What's new in business news: September 3, 2013 | Bangkok Post: learning

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What's new in business news: September 3, 2013

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Water sports to replace drinking & drugs at Full Moon party, inflation falls before price hikes & immediate VAT refund to help small cross-border traders. 

As concerns grow about the soaring cost of living following price rises for cooking gas, electricity and expressway tolls, some restaurants and market vendors are managing to keep food prices unchanged in a bid to keep their customers amid anaemic domestic consumption. THITI WANNAMONTHA


Plans for govt 'Water fun' for Full Moon party on Koh Phangan 

The Ministry of Tourism and Sports will introduce new water sports activities to the Full Moon party on Koh Phangan in Surat Thani, as well as boosting security.

The party, held every month on Hat Rin beach near or on the full moon, draws between 6,000 and 14,000 visitors, mostly Western tourists.

However, Minister Somsak Pureesrisak said on Monday the gathering - normally featuring excessive drinking, dancing and drugs - was not in line with local culture.

Mr Somsak said he wanted to include water sport competitions as part of the party and give prizes to the winners. 

These activities will help give the party a different atmosphere for party-goers.

Additional security measures would be provided to help ensure safety for tourists at night.

Mr Somsak said the changes would start next month, at the start of the tourist high season.

[Read full story here ]


Inflation falls before price hikes on weakening demand

Inflation hit a 45-month low in August on falling retail prices of certain fuels, coupled with stable fresh meat prices, cheaper vegetables and sales campaigns by retailers.

Commerce Ministry figures showed inflation based on 450 consumer items slowed for an eighth straight month in August, registering 1.59% year-on-year against 2% in July, 2.25% in June, 2.3% in May and 2.4% in April.

The reading was well down from 3.6% last December, when the rate was its highest since November 2011.

The easing of inflation in August was not a surprise, given steady fuel prices.

The subdued inflation could reflect muted demand pressure and somewhat weaker domestic demand. Thailand's economic growth is losing momentum as a result of tepid demand at home and overseas. The economy slipped into a mild recession in the first half of 2013.

[Read full story hikes" >here ]


Immediate VAT refund to help small cross-border traders 

The government allows exporters to reclaim value-added tax after they ship products overseas, but the process takes about 90 days. Traders who import materials into Thailand are also allowed to reclaim VAT.

An immediate VAT exemption in a "free zone" at the border instead of waiting to reclaim VAT makes doing business easier for cross-border traders.  

"Free zones" have been set up for eligible exporters to declare tax payments and to import materials into Thailand with a VAT exemption instead of waiting to reclaim VAT.

Local exporters and cross-border traders include big corporations as well as smaller firms, but the free zones are limited to bigger exporters eligible under Customs Department criteria, which include standardised production sites, quality control and accounting standards. Small and medium-sized businesses do not usually meet the stringent criteria

Full-year cross-border trade is forecast at 1 trillion baht, up from last year's 900 billion baht. Food and consumer goods are the key products exported to regional markets.

Free zones support Asean expansion at a time of depressed export demand.

[Read full story here ]

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accounting: the preparation of financial records for a company, organisation or person - การบัญชี

activity: a thing that you do for interest or pleasure, or in order to achieve a particular aim - กิจกรรม

additional: more; more than was first mentioned or is usual - ที่เพิ่มขึ้น

amid: during the time when something else is happening - ท่ามกลาง

anaemic: weak - อ่อนแอ

atmosphere: the mood or feeling that exists in a place - บรรยากาศ

base: to use an idea, a fact, a situation, etc. as the point from which something can be developed - วางรากฐาน

bid: an offer to buy or provide something at a specific price - การประมูล, การให้ราคา, การเสนอราคา

boost: to increase - เพิ่ม

border: the official line separating two areas, regions or countries - เขตแดน อาณาเขต

campaign: a planned group of especially political, business or military activities which are intended to achieve a particular aim - การรณรงค์

competition: an organised event in which people try to win prizes by being better than other people - การแข่งขัน

concern: a worry - ความกังวล

consumer: someone who buys and uses goods and services - ผู้บริโภค

consumer goods: goods such as food, clothing, etc. bought and used by individual customers - เครื่องอุปโภคบริโภค, ของกินของใช้

consumption: the act of using energy, food or materials; the amount used - การบริโภคพลังงาน, การใช้หมดไป

corporation: a large business company - บริษัท

cost of living: the amount of money that people need to pay for ordinary goods and services such as food, clothing and a place to live - ค่าครองชีพ

coupled with: combined with and producing a particular effect - ประกอบกับ

criteria: a standard that is used for judging something or for making a decision about something - บรรทัดฐาน

cross: to go across; to pass or stretch from one side to the other - ข้าม

culture: the customs and beliefs, art, way of life and social organization of a particular country or group - วัฒนธรรม

declare: to tell customs officers (= at the border of a country) the kind of goods you are carrying - แจ้ง, เปิดเผย

demand: the need and desire of people to buy goods - อุปสงค์

depress: reduce, decrease, make lower -

domestic: inside the country being talked about - ภายในประเทศ

domestic: relating to a person's own country - ภายในประเทศ

draw: to attract or interest somebody, often to cause them to go somewhere - ดึงดูดความสนใจ

ease: to make a problem, situation or pain less severe or serious - บรรเทา

ease: to make or become less severe, difficult, unpleasant, painful, etc - ทำให้ง่าย

eligible: allowed by rules or laws to do something or to receive something - มีสิทธิ

ensure: to make certain that something happens or is done - ให้การยืนยัน, รับรอง, ให้ความมั่นใจ

excessive: much greater than is usual; too much of something   - มากเกินปริมาณที่พอดี

exemption: permission to not have to do something, such as making a payment, following a rule, etc. - ข้อยกเว้น

expansion: when something increases in size, number or importance - การขยายออก

export: the selling and transporting of goods to another country - สินค้าออก, การส่งสินค้าออกไปต่างประเทศ

feature: to include someone or something as an important part - มีบทบาทสำคัญใน

figure: a number representing a particular amount, especially one given in official information - ตัวเลข, จำนวนเลข

forecast: a statement about what will happen in the future based on information available now - การพยากรณ์, การคาดการณ์

free: not having something -

fresh: new; made or experienced recently - ใหม่, เมื่อเร็วๆนี้, สดๆ ร้อนๆ

fuel: any material that produces heat or power, usually when it is burnt - เชื้อเพลิง

full moon: when the moon is big and looks like a circle - เดือนเพ็ญ, พระจันทร์เต็มดวง

gathering: a party or a meeting when many people come together as a group - การรวมตัว, การประชุม

growth: economic growth, an increase in economic activity - การเติบโต

high season: the time of year when demand is highest for something such as tourism in an area -

hike: an increase - การเพิ่มสูงขึ้น

hiked their prices: increased their prices - ขึ้นราคา

immediate: happening or done now, without any delay - ทันทีทันใด

import: to buy or bring in products from another country - นำเข้า

importer: a person, company, or country that brings goods into their country in order to sell them - ผู้นำเข้า

in line with: similar to or corresponding with another thing - สอดคล้องกับ

inflation: a general rise in the prices of services and goods in a particular country, resulting in a fall in the value of money - เงินเฟ้อ

key: most important - ที่สำคัญ

local: in or related to the area that you live, or to the particular area that you are talking about - ท้องถิ่น

measure: a firm action taken to solve a problem or stop a dangerous unpleasant situation - มาตราการ

mild: not strong - เบา, ไม่หนัก, ไม่รุนแรง

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

momentum: progress or development that is becoming faster or stronger - แรงผลักดัน

muted: quietly, without much energy or strength; subdued -

normally: usually; in normal circumstances - โดยปกติ, ตามปกติ

overseas: in another country - ต่างประเทศ

pressure: (of a force) to press against something - กดดัน, อัด, บีบ

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

quality control (QC): the process of checking that goods produced in a factory meet a high standard of quality - การควบคุมคุณภาพ; การรักษาคุณภาพผลผลิตหรือการให้บริการอย่าง น้อยต้องไม่ต่ำกว่าเกณฑ์มาตรฐานขั้นต่ำสุด [สิ่งแวดล้อม]

rate: the level or speed at which something happens or changes, or the amount or number of times it happens or changes in a particular period - อัตรา

reading: taking a measurement of something - จำนวนตัวเลขที่อ่านได้จากอุปกรณ์ (เช่นจากปรอทวัดอุณหภูมิ)

recession: a period when trade and industry are not successful and there is a lot of unemployment - ภาวะเศรษฐกิจถดถอย

reclaim: to take back something that was yours - เรียกกลับคืน, เอากลับ

reflect: to show - สะท้อน แสดงถึง

refund: a reimbursement; an amount of money that is given back to you - เงินที่คืนให้

regional: of or relating to a region - เกี่ยวกับภูมิภาค

register: to be officially recorded as ... -

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

retailer: a person or company that sells goods directly to the public for their own use - ผู้ขายปลีก

security: protection; safety from attack, harm, or damage - ความมั่นคง, ระบบรักษาความปลอดภั, ความปลอดภัย

set up: to create something or start it - ตั้งขึ้น

shipment: a load of goods that are sent from one place to another - ปริมาณสินค้าที่ขนส่งในครั้งหนึ่ง ๆ

slipping: falling; getting worse -

soar: to rise very quickly to a high level - มีความหวังสูง,พุ่งพรวดขึ้น

stable: firmly fixed; not likely to move, change or fail - มั่นคง

standardise: to make objects or activities of the same type have the same features or qualities; to make something standard - วางมาตรฐาน, ปรับเข้ามาตรฐาน

standards: a level of quality that is normal or acceptable for a particular person or in a particular situation - มาตรฐาน, บรรทัดฐาน

standards: rules for behaving which should be obeyed - มาตรฐาน, บรรทัดฐาน, กฎเกณฑ์, กรอบ

steady: staying at the same level, speed, value etc - ไม่เปลี่ยนแปลง, สม่ำเสมอ

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

stringent: (of a rule, law, etc.) very strict and that must be obeyed - เข้มงวด

subdued: not very loud or bright - เงียบ, เงียบสงบ

tepid: warm when it should be hot; not very excited or enthusiastic when it should be -

toll: the amount of money that a person must pay to travel on a special road or "tollway". -

tollway: a long wide road that you have to pay to drive on - โทลล์เวย์, ทางด่วน

trader: someone who buys and sells things - ผู้ค้า

value-added tax: a tax that is added to the price of goods and services - ภาษีมูลค่าเพิ่ม

VAT: a tax that is added to the price of many goods and services - ภาษีมูลค่าเพิ่ม

vendors: people who sell things, e.g., food or newspapers, usually outside on the street - พ่อค้าแม่่ค้าหาบแร่แผงลอย

well: very much so -

zone: an area that has an important or typical feature; an area where a particular activity is allowed or not allowed - พื้นที่, บริเวณ, เขต

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