What's new in business news: September 4, 2013 | Bangkok Post: learning

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What's new in business news: September 4, 2013

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Microsoft buys Nokia & plans shift to mobile devices, Central Group to develop 30 malls in 3 countries & proposal for higher retirement age. 

An architect' s drawing of CentralPlaza i-City Malls Malaysia.

TECHNOLOGY

Microsoft buys Nokia as part of shift to mobile devices and services 

AFP News agency

After missing out on the tech sector' s shift to mobile, Microsoft is making a bold, risky bet to gain market share in the smartphone market by purchasing Nokia.

The deal worth $7.2 billion (5.44 billion euros) gives Microsoft Nokia's mobile phone operations along with an array of patents and licenses to help compete with rival platforms from Google and Apple, and manufacturers such as Samsung.

Windows-based smartphones saw a 78 percent jump in the past year, but still held just 3.7 percent of the global market. Google's Android has 79.3 percent of the global market and Apple has 13.2 percent.

Microsoft is aiming to increase their market share to 15 percent and on July 11 the company unveiled a reorganization plan to concentrate on devices and services.

Microsoft and Nokia already have a partnership. The acquisition could help create a more unified marketing effort and also by integrating Nokia, Microsoft will have everything from hardware to software to applications to services under one roof.

The deal also moves Nokia chief executive Stephen Elop, who was hired from Microsoft in 2010 to turn the company around, back to his former firm, and makes him a likely candidate to succeed Ballmer when he retires.

[Read full story deal" >here ]

RETAIL 

Central Group to develop 30 malls in 3 countries

Central Pattana Plc (CPN), the SET-listed property arm of Central Group, has earmarked 120 billion baht to develop 30 shopping centres in Malaysia, Indonesia and Vietnam over the next 15 years (2014-28).

The move is part of plans to become a regional retail developer ahead of two major regional rivals - CapitaMalls Asia Ltd in Singapore and SM Prime Holdings Inc in the Philippines.

For its first regional mall, the company will start construction on a CentralPlaza shopping complex in Malaysia next year for a 2016 opening, targeting middle- and upper-class customers. CPN will own 60% and its Malaysian partner the rest. 

Malaysia has higher purchasing power than Thailand, with a per capita income (332,800 baht) almost twice as high as  Thailand's (at 176,000  baht) and is on track to achieve developed-country status by 2020. 

[Read full story here ]

LABOUR

Higher retirement age receives chamber of commerce backing

The labour shortage is becoming more severe in Thailand, prompting businesses to call on the government to extend the mandatory retirement age to 65 years from 60. A study of the proposal is expected to take six months before being tabled for government consideration.

Thailand's unemployment rate is very low, at 0.4% in June, a rate we could almost call full employment and Thailand is estimated to be short of 1 million workers. There were 289,491 unemployed working age Thais out of a total workforce of 39.5 million.

The construction industry is the hardest hit sector for unskilled labour, followed by fisheries. Skilled labour is in short supply in the automobile, tourism and service sectors.

[Read full story backing" >here ]

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Vocabulary:

acquisition: the process of buying something; something that has been bought - การซื้อ, การได้มาซึ่งการเข้าถือสิทธิ์

aim: to have as your purpose or goal - มีเป้าหมาย มีจุดมุ่งหมาย

application (app): a program designed to do a particular job; a piece of software - โปรแกรมใช้งาน, โปรแกรมคอมพิวเตอร์

architect: a person whose job is to design new buildings and make certain that they are built correctly - สถาปนิก

array: a group or collection of things or people, often one that is large or impressive - การจัดเรียง, ขบวน

back: to support - ให้การสนับสนุน

bet: to risk money on a race or an event by trying to predict the result - พนัน

bold: involving a risk; confident and unafraid - กล้า ท้าทาย

call on: request or ask someone to do something - ขอ, ขอร้อง, เรียกร้อง

candidate: one of the people being considered for a job - ตัวแทนที่ส่งเข้ารับตำแหน่ง

chamber of commerce: a group of local business people who work together to help business and trade in a particular town - หอการค้า

chief executive: the person with the highest rank in a company or an organisation - ผู้บริหารสูงสุด

compete: to try to be more successful or better than somebody else who is trying to do the same as you - แข่งขัน

complex: a large building with various connected rooms or a related group of buildings -

complex: an area that has several parts - พื้นที่ประกอบด้วยส่วนต่าง ๆ

concentrate: to give most of your attention to one aim or activity - เพ่งความสนใจไปยัง  มุ่งไปที่

consideration: giving careful thought to something before making a decision - การคิดพิจารณา

construction: the work of building or making something, especially buildings, bridges, etc. - การก่อสร้าง

deal: a formal agreement, especially in business or politics - ข้อตกลง, การตกลงซื้อขาย, การซื้อขาย

develop: the gradual growth and improvement of something so that it becomes more advanced, stronger and successful - พัฒนา

developed country: a rich industrialized country - ประเทศพัฒนา

developer: real estate developer, a person or company that builds new "real estate developments" including buildings, houses, shopping centers, etc - นักพัฒนาที่ดิน

developing country: a country that is still growing and industrializing and is not yet a rich country - ประเทศกำลังพัฒนา

development: the process of using an area of land, especially to make a profit by building on it, etc - การพัฒนา

device: a machine or piece of equipment that does a particular job - อุปกรณ์ เครื่องมือ เครื่องจักร

drawing: making a picture of something on paper with pencils or pastels or some other media - รูปวาด, See also: ภาพวาด,

earmark: to decide to use something, especially money, for a particular purpose - ตัดสินใจที่จะใช้สำหรับวัตถุประสงค์เฉพาะ

effort: an attempt to do something - ความพยายาม

estimated: thought to be a particular amount, size, etc. based on a guess or the best information available - ประมาณการ

extend: to make a period of time longer - ขยายออกไป

firm: a business or company - บริษัท

full employment: when everyone who wants to work as work in a country and economy -

global: throughout the world - ทั่วโลก

hardware: the actual computer and computer parts that you can touch, not the software or program that runs the computer -

hire: to pay someone to work for you, especially for a short time - จ้าง

income: money that someone gets from working or from investing money - รายได้

integrate: to combine things of different types in one effective system - รวมเข้าด้วยกัน

labour: work, especially hard physical work - งานที่ใช้พละกำลัง

licensed: having an official document that gives someone permission to do or use something - มีใบอนุญาต

listed firm: a public company, i.e., a company that offers its shares to the public on a stock exchange - บริษัทมหาชน

mandatory: ordered by a law or rule - ตามข้อบังคับ

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

market share: the percentage of sales that a company has in a market or industry compared to total sales - เปอร์เซ็นต์การขายสินค้า, ส่วนแบ่งตลาด

middle-class: families that are not poor or rich but have incomes in the middle, sometimes thought of as educated people with professional jobs - ฐานะปานกลาง, ชนชั้นกลาง

missing out on: losing an opportunity - เสียโอกาส

mobile (technology): of devices, especially telecommunication devices, that can easily be moved around, e.g., mobile phones, tablets, notebook computers - อุปกรณ์ซึ่งเคลื่อนที่ได้ง่าย

move: action -

on track: likely to be successful -

operations: the activity or work done in an area of business or industry - ปฎิบัติการ

partner: one of the people who owns a business and shares the profits, etc or works together with another business in an activity - หุ้นส่วน, ผู้ร่วมมือ,

partnership: when a company owns and runs a business and shares profits, etc or with another company - หุ้นส่วน, ความร่วมมือ, ห้างหุ้นส่วน, ห้างหุ้นส่วนจำกัด

patent: an official document that gives someone who has invented something the legal right to make or sell that invention for a particular period of time, and prevents anyone else from doing so - สิทธิบัตร

per capita: per person, for each person - ต่อคน, รายหัว, ต่อหัว

platform: the type of computer system or the software that is used -

prompt: to cause something to happen or be done - ก่อให้เกิด

proposal: a plan or suggestion for a group to consider - ข้อเสนอ

purchase: to buy something - ซื้อ

purchasing power: buying power; the ability to buy things, i.e., having enough money to buy things - กำลังซื้อ

regional: of or relating to a region - เกี่ยวกับภูมิภาค

reorganization: changing the way a business is organized and run along with the administration of the business - การจัดระเบียบใหม่, การจัดองค์การใหม่ การปรับปรุงราชการบริหาร

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

retire: to stop working because you have reached the age where you are officially too old to work - เกษียณอายุ

retirement: the time when you stop working, especially because of old age - เกษียณอายุ, การอำลาวงการ

risky :  involving the possibility of danger, harm or failure - เสี่ยง, เสี่ยงอันตราย

rival: a person you are competing against or opposing - คู่แข่ง

sector: a part of a country’s economic or business activity - ภาค (เศรษฐกิจ)

shift: a change in something - การเปลี่ยน

shift: to change - เปลี่ยน

short of: not having enough of something - ขาดแคลน

shortage: when there is not enough of something - การขาดแคลน

status: official or legal position - สถานภาพ

study: A setting of the mind or thoughts upon a subject; hence, application of mind to books, arts, or science, or to any subject, for the purpose of acquiring knowledge. - งานวิจัย

succeed: to come next after somebody/something and take their/its place or position - รับช่วงต่อ, ดำเนินต่อ

table: to suggest formally in a meeting - เสนอเรื่องเข้าที่ประชุม

table a bill: to propose a new law (bill) to parliament to consider making into a law -

target: something you want to achieve; a particular number or amount that you want to achieve - เป้าหมาย

turnaround: a situation in which something changes, usually from bad to good - การเปลี่ยนแปลง

under one roof: in one company -

unemployment rate: the percentage of workers in an economy who do not have a job - อัตราการว่างงาน

unified: joined together to form a single unit - มีเอกภาพ, ซึ่งรวมเป็นหนึ่งเดียว,, ซึ่งทำให้เป็นหน่วยเดียวกัน

unveil: to announce something that was not known before - เปิดเผยข้อมูล

upper-class: rich people - ชนชั้นสูง

workforce: all the people who work for a particular company, organization, etc. - แรงงาน, คนทำงาน

worth: having a value in money, etc - มีค่า, มีมูลค่า

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