What's new in business news: September 13, 2013 | Bangkok Post: learning

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What's new in business news: September 13, 2013

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Bangkok flood tunnel contract signed, growth in G20 countries accelerates & export growth strategy must go, says UN report. 

MR Sukhumbhand stands in the new Rama IX-Ramkhamhaeng water drainage tunnel which was officially opened in February 2011 and channels flood water from Saen Saep and Lat Phrao canals into the Chao Phraya River. Photo by Somchai Poomlard

FLOOD MANAGEMENT 

Bangkok flood tunnel contract signed

The Bangkok Metropolitan Administration (BMA) has signed 2.4 billion baht in contracts for the building of a huge new drainage tunnel to help end flooding in the six inner districts of Bangkok. The contract signing was presided over by Bangkok Governor MR Sukhumbhand Paribatra. The construction will take about three years with the earliest date for completion September 2016.

The 6.4km Ratchada-Bang Sue flood tunnel will have a width of five metres and be 20m underground and drain water from major roads in six districts -- Huay Khwang, Din Daeng, Chatuchak, PhayaThai, Dusit and Bang Sue. The tunnel will improve drainage from low-lying areas where there is only limited capacity to release flood water into the Chao Phraya River and will run from Ratchadapisek Road to Lat Phrao canal, then run along Bang Sue canal and meet the Chao Phraya River at Wat Kaew Fah in Dusit district.

The BMA has also planned to construct two other large drainage tunnels -  a 9.4km tunnel in Nong Bon Pond for the East of Bangkok and a 13.5km tunnel on Prem Prachakorn canal in the West of Bangkok.

[Read full story here ]

ECONOMY 

Growth in G20 countries accelerates

12/09/2013

Growth in the Group of 20 emerging and advanced economies accelerated in the second quarter of this year to 0.9% from 0.6% in the previous three month period. Most G20 members saw growth pick up momentum in April through May. 

Turkey posted the highest quarter-on-quarter expansion of 2.1%. China had a marginal increase to 1.7% growth, Brazil followed at 1.5%. Developed nations Britain, Germany and the United States all saw growth rise to 0.7%, while France exited recession with 0.5% growth. Growth slowed marginally in Japan to 0.9% and in Canada to 0.4%. Italy's contraction narrowed to 0.3%, while Mexico went from a flat reading in the first quarter to a 0.7% contraction.

[Read full story accelerates" >here ]

INVESTMENTS

Global economy cannot support export strategy

An export-led economy is no longer a viable strategy for developing nations such as Thailand, says this year's Trade and Development Report from the UN Conference on Trade and Development (Unctad).

The global economy can no longer support pre-2008 growth strategies, so policymakers in developing countries should move away from wage and export competition. Instead, they should focus on strengthening domestic and regional demand.

Domestic demand must be spurred by boosting the number of middle-class consumers and their purchasing power without increasing household debt. The report advocated an enhanced central bank role through support for productive investment in infrastructure and industries. Small and medium-sized enterprises (SMEs) and new businesses should be supported, as these play a major role in boosting employment and productivity. In the long run, this will simultaneously raise household purchasing power and productivity.

The report also cautioned against excessive reliance on foreign investment inflows since this leads to consumption and speculative investment which in turn leads to a bubble which eventually bursts and affects the whole economy.

The direction of global trade is shifting towards intra-regional trade. Countries with smaller populations such as Thailand need Asean more than ever to boost regional trade.

[Read full story here ]

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Vocabulary:

accelerate: to happen or make something happen at a faster rate - เร่ง, เร่งความเร็ว, เพิ่มความเร็ว

administration: government - รัฐบาล

advocate: to publicly support - สนับสนุน

boost: to increase - เพิ่ม

boost: to increase; to strengthen - เพิ่ม; ทำให้มีกำลังมากขึ้น

bubble: bubble - economic bubble; an economic situation in which prices of stocks or real estate rise very quickly and many people make a lot of money and then lose money when the "bubble bursts" - เศรษฐกิจฟองสบู่

burst: to break open suddenly because there is too much pressure inside or against - โพล่ง, แตก, ระเบิด

canal: a waterway, a long hole in the ground made to send water from one place to another - คลอง

capacity: the total amount or number that can be handled or contained - ปริมาณสูงสุดที่จะรับได้

caution: to warn; to tell someone about a danger or problem that they need to know about or avoid - เตือน

central bank: the main government bank in a country that controls the supply of loans (credit) and the supply of money in the country and provides financial services to the government and other banks - ธนาคารแห่งชาติ

channel: a passage that water can flow along, especially in the ground, on the bottom of a river, etc - ร่องน้ำ, ช่องทาง

channel: to carry or send water, light, etc. through a passage - ทำให้ไหลไปตามช่อง

competition: a situation in which people or organizations compete, i.e., try to be more successful or better than somebody else who is trying to do the same as you - การแข่งขัน

completion: finishing something; bringing some project to an end after having done everything successfully - การทำเสร็จ, การทำให้สมบูรณ์

construct: to build or make something, especially buildings, bridges, etc. - สร้าง

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

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

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

contract: an official written agreement - สัญญา

contraction: economic contraction, when economic activity and the economy becomes smaller than it could be; shrinkage - การหด การลด

debt: an amount of money that you owe - หนี้, นี้สิน

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

developed country: a rich industrialized country - ประเทศพัฒนา

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

direction: the general way in which a person or thing develops - ทิศทาง, การชี้ทาง

domestic: inside the country being talked about - ภายในประเทศ

drainage: the system of water or waste liquids flowing away from somewhere into the ground or down pipes - การระบายน้ำ

economy: the relationship between production, trade and the supply of money in a particular country or region - เศรษฐกิจ

emerge: to appear or to become recognised - โผล่ออกมา

employment: when a person has work that earns them money - การจ้างงาน, การงาน

enhance: to increase or further improve the good quality, value or status of someone/something - เสริม ยกระดับ เพิ่มทวี

enterprise: an organization, especially a business - กิจการ, บริษัท,อุตสาหกิจ,วิสาหกิจ

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

exit: to leave - ออกจาก

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

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

flat: having a level surface, not curved or sloping - ราบ (พื้นดิน), ราบเรียบ

focus: the thing or person that people are most interested in - จุดสนใจ, จุดสำคัญ, จุดหลัก

focus: to give attention, effort, etc. to one particular subject, situation or person rather than another - เพ่งความสนใจ

G20: "a group of finance ministers and central bank governors from 20 major economies: 19 countries plus the European Union who have met at summits since 2008, the G-20 economies account for approximately 80 percent of the gross world product (GWP), 80 percent of world trade (including EU intra-trade), and two-thirds of the world population, the G20 countries are: Australia,India, Argentina, France, China, Canada, Russia, Brazil, Germany, Indonesia, Saudi Arabia, South Africa, Mexico, Italy, Japan, United States, Turkey, United Kingdom, South Korea" - กลุ่มประเทศจี 20 = กลุ่มประเทศ G 20

global: throughout the world - ทั่วโลก

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

household: a group of people, often a family, who live together - ครัวเรือน

in turn: one after the other in a particular order; as a result of something in a series of events - ตามลำดับ

inflow: the movement of a liquid or of air into a place from somewhere else - การไหลเข้า, กระแสที่ไหลเข้ามา

infrastructure: a set of systems within a place or organisation that affect how well it operates, e.g., the telephone and transport systems in a country or the system of train tracks that a railway uses - สาธารณูปโภค

intra: within, inside - ภายใน

investment: the act of investing money in something - การลงทุน

limited: stopped from increasing beyond a particular amount or level - ถูกจำกัด

major: very large or important - สำคัญมาก

marginal: by a small amount - เล็กและไม่สำคัญ, เล็กน้อย

metropolitan: relating to a large city - เกี่ยวกับเมืองใหญ่

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

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

narrow: to make less wide - ทำให้แคบลง

nation: a country considered as a group of people with the same language, culture and history, who live in a particular area under one government; all the people in a country - ประเทศ, คนในประเทศ

officially: publicly and by somebody who is in a position of authority - อย่างเป็นทางการ

pick up: to gain in strength , go faster -

population: a particular group of people or animals living in a particular area - กลุ่มที่อาศัยอยู่ในที่เดียวกัน

post: to put a notice, etc. in a public place so that people can see it - ปิดประกาศ

preside: to be in charge of a ceremony, official meeting, or other event - ทรง) เป็นประธานในพิธี 

previous: happening or existing before the event or object that you are talking about - แต่ก่อน, เมื่อก่อน

productive: achieving good results - ที่ก่อให้เกิดผล

productivity: the rate at which a worker, company or whole country produces goods compared with the resources or inputs needed to produce them such as labour, capital, machines and equipment needed to produce them - ผลิตภาพ; การเพิ่มผลผลิต; ความสามารถในการผลิต

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

quarter: three months of the year on the official calendar of the government or companies -

quarter-on-quarter: a statistic or amount for a three month period (quarter) this year compared to the same period last year -

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

regional: of or relating to a region - เกี่ยวกับภูมิภาค

release: to let something move freely; to allow a substance to flow out from somewhere - ปล่อย

reliance: the state of needing somebody/something in order to survive, be successful, etc; the fact of being able to rely on somebody/something - การพึ่งพาอาศัยกัน

role: the position or purpose that someone or something has in a situation, organisation, society or relationship - บทบาท

shift: a change in something - การเปลี่ยน

sign a contract: agree to do something in exchange for something such as money - เซ็นสัญญา

simultaneously: happening at the same time - ในเวลาเดียวกัน,ที่พร้อมกัน

speculative: having to do with speculation or risking your money to gain more money - เกี่ยวกับการเสี่ยงโชค

spur: to cause something to happen - ก่อให้เกิด 

strategy: a plan or method for achieving something, especially over a long period of time - ยุทธวิธี, แผนการ  

support: preventing something from falling down or decreasing -

trade: the buying and selling of goods and services - การค้าขาย

tunnel: an underground passage - อุโมงค์

viable: able to work as intended or able to succeed - ซึ่งใช้การได้ (แผนการ, คำแนะนำ) ซึ่งประสบผลสำเร็จได้

wage: an amount of money that you earn for working, usually according to how many hours or days you work each week or month - ค่าจ้าง

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