What's new in business news: October 31, 2013 | Bangkok Post: learning

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What's new in business news: October 31, 2013

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Compact SUVs from Nissan, Ford next month, credit card interest only on overdue amount & political tensions spook investors. 

The Nissan Juke, to be unveiled in Thailand next month, has a 117-hp, 1.6-litre engine and a CVT gearbox.

AUTOMOTIVE INDUSTRY 

Compact SUVs from Nissan & Ford next month

Nissan will join Ford in opening a new "compact SUV" segment in the Thai car market with public launches at next month's motor expo. The Nissan Juke and Ford Ecosport B-segment crossovers will create a new class below compact sport-utility vehicles (SUVs) such as the Honda CR-V and Mazda CX-5.

Official sales of the Ecosport will start at the 30th Thailand International Motor Expo at Impact Muang Thong Thani from Nov 28-Dec 10. Prices have yet to be revealed but insiders have hinted of prices less than 900,000 baht.

Ford is building the Ecosport at its factory in Rayong, while Nissan is using Asean Free Trade Agreement benefits to import the Juke from Indonesia. The Juke has been sold globally for three years now. Honda is planning to build a rival to these SUVs next year at its new factory in Prachin Buri province. The Ecosport comes with a 110-horsepower, 1.5-litre petrol engine and six-speed automatic transmission, while the Juke gets a bigger 117-hp, 1.6-litre engine and a CVT gearbox.

[Read full story here ]

CREDIT CARDS

Credit card interest only on overdue amounts according to new law 

Under the new Credit Card Business Act, expected to take effect in July or August next year, credit card issuers can only start charging interest on the overdue amount after the repayment date, while now they can charge immediately after a cardholder has bought products or services. Typically, credit card lenders set the billing cycle at 45 days.

The new law will shorten the interest calculation period and reduce the interest income of lenders, so lenders are promoting card spending to maintain revenue. Kasikornbank forecasts the new law will shave 300-500 million baht in income off its revenue.  The bank has outstanding credit card loans of 50-60 billion baht, with half contributing to interest income.

Thailand's outstanding credit card loans total 260-270 billion baht, with 130 billion or 50% revolving balances.

[Read full story rule" >here ]

ECONOMIC SENTIMENT

Political tensions spook investors

Renewed protests against an effort to pass the controversial amnesty bill are worrying business operators, who fear clashes will damage the economy. Heightening political tensions are spooking investors, with the SET index tumbling 1.7% yesterday.

A mass rally is expected after the opposition Democrat Party decided to call nationwide protests to oppose the bill, which is aimed at giving amnesty to people convicted of crimes linked to political incidents since the 2006 coup that ousted Thaksin Shinawatra. Anti-government groups are concerned it could return Thaksin home a free man. The International Court of Justice' s ruling on the border dispute between Thailand and Cambodia over the ancient Preah Vihear Temple, set for Nov 11, could be another political threat.

If the situation escalates, it might worsen confidence in the industrial sector, which has already been slow. The Thai Industries Sentiment Index dropped to its lowest level in 23 months in September at 90.4 points. The tourism sector, the only one that is performing well, might also be hit hard. Bad news regarding protests could trigger a panic that might lead to foreigners cancelling their trips to Thailand during the festive season which is arriving soon. There is also a concern that conflicts will delay infrastructure development projects.

According to retail experts, peaceful marches will have no effect since Thais are familiar with political rallies, but if anyone is injured, the shopping atmosphere will be affected immediately. If crowds march in Bangkok's central area, it will immediately affect public lives, business activities and spending power. Inner Bangkok is a shopping destination for foreign tourists, whose spending accounts for 40-60% of sales at a time of low spending power for Thai customers.

[Read full story investors" >here ]

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Vocabulary:

account for: to be a particular amount or part of something -

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

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

amnesty: a situation in which a government agrees not to punish people who have committed a crime - การนิรโทษกรรม

ancient: very old - ที่เก่าแก่ ที่โบราณ

anti: against - ตรงกันข้าม, ต้าน

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

benefit: an advantage you get from a situation; a helpful or good effect, or something intended to help - ผลประโยชน์, ข้อได้เปรียบ, ผลดี

bill: a proposal for a law - ร่างกฎหมาย

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

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

call: a request, an order or a demand for somebody to do something or to go somewhere - ข้อเรียกร้อง

cancellation: a decision to stop something that has been arranged from taking place - การยกเลิก

charge: a payment or fee for something - ค่า

clash: a fight between groups of people - การปะทะกันสองฝ่าย

class: a group of people, animals or things that have similar characteristics or qualities - ประเภทหรือชนิด

compact: using or filling only a small amount of space; smaller than is usual for things of the same kind - ที่ใช้เนื้อที่น้อย, ที่อัดแน่น

concern: a worry - ความกังวล

concerned: worried about something   - มีความกังวล

confidence: being certain of your abilities or of having trust in people, plans, or the future - ความมั่นใจ

conflict: an angry disagreement between people or groups - ความขัดแย้ง

contribution: an action or a service that helps to cause or increase something -

controversial: causing disagreement or disapproval - ความไม่ลงรอยกัน

convict: to prove in a court of law that someone is guilty of a crime - พิสูจน์ว่าผิดกฎหมาย

coup: the seizure of power in a country by a group of people, usually members of the armed forces - รัฐประหาร

crowded: packed; full of people or things - แน่น

delay: causing to happen at a later time; happening at a later time than expected - การเลื่อน, ช้ากว่าปกติ

destination: the place where someone or something is going - จุดหมายปลายทาง

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

dispute: a serious disagreement - การโต้เถียง, ความขัดแย้ง

effect: a change that somebody/something causes in somebody/something else; a result - ผลกระทบ

effort: an attempt to do something - ความพยายาม

escalate: to become much more serious or much worse - ทำให้เพิ่มขึ้น, ทำให้มากขึ้น

expert: someone who has a particular skill or who knows a lot about a particular subject - ผู้เชี่ยวชาญ

expo: a fair where things are displayed for people to see such as new products; an exposition - งาน

familiar: well known to you, or easily recognised by you - คุ้นเคย

festive: connected with a festival or celebration - รื่นเริง, เกี่ยวกับเทศกาล

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

Free Trade Agreement (FTA): an agreement between countries to create "free trade" for some or all goods - เขตการค้าเสรี

globally: throughout the world - ทั่วโลก

hint: to say or do something that shows, but not directly, what is meant - แย้ม

immediately: happening right after something else with no delay; right away - ทันที

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

incident: something that happens, usually something bad - เหตุการณ์

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

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

industrial sector: the part of the country’s economic activity that involves industry - ภาคอุตสาหกรรม

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

injure: to hurt or cause physical harm to a person or animal - ทำให้บาดเจ็บ, ทำร้าย

interest: the money that a bank or other financial company charges you when you borrow money, or the money it pays you when you keep money in an account - ดอกเบี้ย

international: connected with or involving two or more countries - นานาชาติ, สากล, ระหว่างประเทศ

International Court of Justice: the World Court; the main judicial body of the United Nataions - ศาลยุติธรรมระหว่างประเทศ

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

issuer: a person, company or organization that "issues" or gives out something -

launch: an event held to start selling a new product or service to the public - การเริ่มวางขาย

lender: someone or something that lends (allows to be borrowed) money, especially a large financial organization such as a bank - ผู้ให้ยืม,ผู้ให้กู้

link: to connect - เชื่อม

maintain: to keep something at the same level or state and not change it -

march: a walk by a large group of people to a place to protest about something - เดินแถว, เดินขบวน

market segment: products produced for a group of customers that have many things in common such as income or family size or age or location - ส่วนตลาด

mass: large numbers - จำนวนมาก

nationwide: throughout a whole country - ทั่วทั้งประเทศ

official: done by people in authority or decided by the government; announced publicly - เป็นทางการ

operator: a person or company that runs a business - ผู้ดำเนินกิจการทางธุรกิจ, ผู้ประกอบธุรกิจ

oppose: to disagree with or not approve of a plan or policy - คัดค้าน

opposition party: a political party that is not part of the government or a group which is against the government - พรรคฝ่ายค้าน  

ousted: forced out of a position of power - ขับออกจากอำนาจ

outstanding: not yet paid, done, solved, etc - ค้าง

overdue: of something that should have been done earlier, e.g., a payment that should have been paid before now - พ้นกำหนด, ที่เลยกำหนดเวลา

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

party: an organized group of people who have similar ideas about the way in which a country should be governed, and who work together to try to persuade people to vote for them in elections - พรรค การเมือง

pass a law: when most of parliament votes for a proposed law (bill) and makes it into a law -

peaceful: calm and quiet and not involving any violence - สงบ, ซึ่งมีระเบียบ, เงียบสงบ

perform a duty: to do what your job requires - ปฏิบัติหน้าที่

period: a particular length of time - ระยะเวลา

project: a planned piece of work that is designed to find information about something, to produce something new, or to improve something - โครงการ

promote: to encourage or support something - สนับสนุน

protest: a meeting or rally, sometimes forceful or violent, of people who strongly disagree with something - ชุมนุมประท้วง

province: on of many divisions of the government of a country into smaller parts - จังหวัด

public: open to people in general - สาธารณะ

public: provided, especially by the government, for the use of people in general - ของสาธารณะ

rally: a large public gathering of people to support someone or to protest against something - การชุมนุม

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

reveal: to let something become known - เปิดเผย

revenue: income from taxes or business activities - รายได้

revolving balance: the amount of money that people do not pay off on their credit card from month to month -

rival: a person, group, team or business that competes with another - คู่ต่อสู้, คู่ปรับ, คู่แข่ง

rule: (of a court or other group with similar authority) to make and announce a decision - ตัดสิน, พิพากษา, ชี้ขาด

season: a period of time during the year - ช่วงเวลา, ระยะเวลา, ฤดูกาล

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

sentiment: a thought, opinion or idea based on a feeling about a situation, or a way of thinking about something - กระแส, แนวความคิด, ความคิดเห็น

shave: reduce by a small amount -

situation: all the circumstances and things that are happening at a particular time and in a particular place - สถานการณ์

spook: to make someone suddenly feel frightened or nervous - ทำให้ตกใจ, ทำให้กลัว

take effect: to begin to be used or required - ส่งผล

tension: the feeling caused by a lack of trust between people, groups or countries - ความตึงเครียด

threat: a danger - อันตราย

trigger: to cause - ก่อให้เกิด กระตุ้น

tumble: to fall down - ล้ม,ล้มลง,ตกลง,หกคะเมน

typically: usually; normally - อย่างเป็นแบบฉบับ

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