What's new in business news: August 28, 2013 | Bangkok Post: learning

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What's new in business news: August 28, 2013

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Stocks continue to fall as foreign investors pull money out, alcohol tax increase & ecocar oversupply looming. 

FINANCIAL MARKETS 

Stocks & baht continue to fall

The Stock Exchange of Thailand (SET) retreated for a ninth straight trading day.

The main stock index has lost 7.39% this year, sliding 21.6% from the year's peak in May. The baht weakened to 32.15/20 to the US dollar.

Stock exchanges in Philippines, Indonesia, India, the Middle East and Europe also fell. 

Foreign investors have pulled US$2.2 billion from equity markets in India, Indonesia, Thailand and the Philippines this month.

Panic sales came after the Barack Obama administration vowed to hold Syria's government responsible for using chemical weapons, as its allies moved closer to a decision on retaliatory military strikes.

[Read full story here and here ]

TAXES & ALCOHOLIC BEVERAGES

Cabinet backs rise in alcoholic beverages tax ceiling

The cabinet on Tuesday approved a sharp increase in the alcohol beverage tax ceiling.

The govt also proposed to change the method of calculating excise tax for alcoholic beverages, using retail prices or wholesale prices at the last step in the supply chain as the basis for its calculation. Currently, the Excise Department calculates taxes for locally made alcohol beverages based on ex-factory prices and for imported beverages based on CIF (cost, insurance and freight) prices. The change to retail prices to calculate the taxes would result in much higher tax collections.

A special fund will receive 1.5-2% of the total alcohol excise tax take and this fund will support the disabled, help pay for education, and finance other activities of the Excise Department. The initial amount of the fund is expected to be one billion baht.

[Read full story beverages" >here ]

AUTOMOBILES

Surplus of eco-cars a new concern

Car makers are wary of an oversupply in the Thai market as the government commits to going ahead with the second phase of the eco-car programme. Manufacturers who were awarded a licence to make eco-cars in the first phase are required to increase annual production to 100,000 vehicles in the fifth year, churning out a huge supply of eco-cars.

Mitsubishi, Honda, Toyota, Nissan and Suzuki joined the first phase, with combined annual capacity of 585,000 cars with seven different models. Nissan began eco-car production in 2010, Honda in 2011, Mitsubishi and Suzuki last year and Toyota this year. 

An eco-car can emit no more than 100 grammes of carbon dioxide per kilometre compared with 120 grammes for existing models. Excise tax for an eco-car is 14% compared with the normal 17% rate, while those compatible with E85 enjoy a 12% rate.

[Read full story concern" >here ]

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Vocabulary:

administration: the government of a country - รัฐบาล

alcoholic beverage: a drink containing alcohol - สุรา

ally: a person who helps and supports somebody who is in a difficult situation, especially a politician - คนหรือประเทศที่อยู่ในกลุ่มเดียวกัน, พันธมิตร

annual: happening every year - ทุกๆปีด, ประจำปี

approve: to give official permission - อนุมัต

award: to officially give someone a contract - ได้รับ

back: to support - สนับสนุน

basis: the important ideas, facts, or actions from which something can develop - รากฐาน, หลักพื้นฐาน, หลัก

beverage: a drink of any type - เครื่องดื่ม

cabinet: the group of government ministers who make and approve government policy - คณะรัฐมนตรี

calculate: to discover a number or amount using  mathematics - คำนวน

calculation: the act or process of using numbers to find out an amount - การคาดการณ์

capacity: the amount of something that can be produced - ความสามารถในการ (ผลิต)

ceiling: an upper limit - เพดาน ขีดจำกัด

chemical weapons: weapons that use poisonous chemicals to kill people - อาวุธเคมี หมายถึง อาวุธที่ใช้สารเคมีในการทำลายล้า

churn out: to produce large amounts of something -

CIF: cost, insurance and freight; a term in trade that means that the seller pays for the goods to be transported by ship and pays for insurance of the goods while they are on the ship -

combined: mixed or put together - รวมกัน

commit: to promise to do something - ให้คำมั่นสัญญา

compatible: able to exist or be used together without causing problems - ซึ่งสอดคล้องกัน,ซึ่งเข้ากันได้,ซึ่งอยู่ด้วยกันได้

concern: a worry - ความกังวล

currently: at this time; now - ในปัจจุบัน

disabled: someone who has a condition, especially a physical one, that limits their activities in some way - คนพิการ

E85: a fuel used for cars that is a mixture of 85% ethanol fuel and 15% gasoline (Source: Wikipedia) -

eco-car: "a green vehicle or environmentally friendly vehicle is a road motor vehicle that produces less harmful impacts to the environment than ... vehicles running on gasoline or diesel" (Source: Wikipedia) -

emit: to send something out into the air - ปล่อยออกมา, แพร่กระจาย

equity: stock shares - หุ้นทุน

ex: out of -

excise tax: a tax made by a government on some types of goods made, used sold within their own country - ภาษีสรรพสามิต, ภาษีสำหรับสินค้าในประเทศ

exist: to be real; to be present in a place or situation - มีอยู่

finance: to provide money for something - จัดหาเงินทุนให้

freight: goods, but not passengers, that are carried from one place to another, by ship, aircraft, train or truck, or the system of transporting these goods - สินค้าที่ขนส่ง

fund: money provided for something - เงินทุน กองทุน

go ahead with: decide to do something that you planned to do -

huge: very large - ใหญ่โต

index: a number that shows the price, value, or level of something compared with something else - ดัชนี

initial: happening at the beginning of a process - ในเบื้องต้น

insurance: an arrangement in which you regularly pay an insurance company an amount of money so that they will give you money if something you own is damaged, lost, or stolen, or if you die or are ill or injured - การประกัน

investor: a person or organization that invests money, i.e., uses money with the aim of making a profit from it, for example by buying property or buying shares in a company - นักลงทุน

licence: an official document that gives someone permission to do or use something - ใบอนุญาต

manufacturer: a person or company that manufactures a product - ผู้ผลิต

method: a particular way of doing something - วิธีการ,วิธีดำเนินการ

military: connected with soldiers or the armed forces - ในทางทหาร,เกี่ยวกับทหาร

ministry: a government department that has a particular area of responsibility - กระทรวง

model: a version of a product sold during a certain period of time, a generation of technology or the product - รุ่น

panic: a sudden strong feeling of fear or worry that causes you to be unable to think clearly or calmly - ความตื่นตกใจ

phase: a particular period of time during the development of something - ตอน, ขั้นตอน, ช่วง, ระยะ

production: the process of growing or making food, goods or materials, especially large quantities - การผลิต

proposed: suggested as an idea for a group to consider - ถูกเสนอ

responsible: deserving to be blamed for something that has happened - มีความรับผิดชอบ

retail: to sell directly to the public for their own use - ขายปลีก

retaliate: to do something harmful or unpleasant to someone because they have done something harmful or unpleasant to you - ตอบโต้ แก้แค้น

retreat: to move back or away - ถอยกลับ

sharp: sudden and rapid, especially of a change in something - ฉับพลัน, กะทันหัน

stock exchange: a place where shares in companies are bought and sold; all of the business activity involved in doing this - ตลาดหลักทรัพย์

Stock Exchange of Thailand: the main institution in Thailand where shares in companies are bought and sold - ตลาดหลักทรัพย์แห่งประเทศไทย

straight: consecutive; happening one after the other, without interruption - ต่อเนื่อง

strike: a sudden attack - การโจมตี

supply: an amount or quantity of something that is available to buy or use; use the amount of a good available in a market to buy - อุปทาน

supply chain: the series of processes involved in supplying a product to someone, including the companies that manufacture all the parts going into a product - โซ่อุปทาน, สายโซ่อาหาร, ห่วงโซ่อุปทาน

surplus: more than is needed - เหลือเกิน, ส่วนที่เกิน

take: the amount and portion of money that you get from some activity - the house take from running gambling operations is substantial

tax collection: the process of the government getting money from people and businesses required to pay tax and the amount of tax the government gets from this activity -

vehicle: a machine that you travel in or on, especially one with an engine that travels on roads, e.g., a car, bus, van, truck, etc. - ยานพาหนะ

vow: to make a formal and serious promise to do something - สาบาน, ปฏิญาณ

wary: careful or nervous about someone or something because you think they might cause a problem - ระมัดระวัง

wholesale: relating to the business of selling large quantities of goods, especially to people who are going to sell them in a shop - ขายส่ง

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