What's new in business news: November 5, 2013 | Bangkok Post: learning

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What's new in business news: November 5, 2013

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DTAC offers e-books & reader app, global oil prices falling & Krungthai Bank seeks to reduce non-performing loans (NPLs). 

DTAC's Readever e-book reader provides 1,000 titles from 30 book publishers for iOS devices, with plans for Android in the near future.

TECHNOLOGY

DTAC offers e-books & e-book reader app 

As third-generation (3G) commercial services and tablets grow more popular, sales of e-books in Thailand are expected to grow. e-book sales will account for up to 4% of Thailand's conventional book market in 2014, up from 0.5% of a market worth 2.4 billion baht now. In  Japan e-books makes up 35% and in South Korea 25% of the book market already.

Total Access Communication (DTAC), the country's second-largest mobile operator, is introducing a digital reading application called Readever. Readever will provide 1,000 titles from 30 book publishers for iOS devices, with plans to include Android devices in the near future. The app allows users to create their own reading community and write their own e-books on the app. Book owners will receive 70% of the e-book cost while the remaining 30% will go to Apple's App Store. 

[Read full story here ]

ENERGY & OIL 

Global oil prices on downward trend

Opec is expected to produce one-third of the world oil supply next year with new supply from non-Opec members such as the US, Mexico and Brazil causing a slight decline in price next year. The Dubai crude oil benchmark price is expected to fall from $105 to US$104 per barrel

In an extreme bullish scenario, if the world economy expands by 3.6%, Opec does not pump more oil while political conflicts in the Middle East and North Africa prolong, crude oil could reach $112.  In the bearish case, the price might fall to $90 if the global economy grows by less than 3.6% and global demand surges by only 800,000 barrels per day. If Iran could resume crude oil production, it would be also another factor affecting the supply and price.

China will replace the US as the world's largest importer of crude oil next year while demand from Asia will continue to grow substantially due to its economic growth. Many Asian countries are beginning to cut energy price subsidies, including China, India and some Southeast Asian countries which should slow demand growth in the global market.

Shale oil and shale gas supplies from North America would be another major factor affecting the price over the next several years. Oil and gas supply from Africa might have to find new export markets because they are of the same grade as shale oil and gas.

[Read full story supply" >here ]

BANKING

Krungthai Bank seeks to reduce non-performing loans (NPLs)

Krungthai Bank (KTB) is slowing down its microfinance business in a bid to curb non-performing loans (NPLs).  After offering microfinance loans for two years, bad debt has increased to about 4% of outstanding loans of 1.5 billion baht. The new target is to limit non-performing loans to 2% of loans.

The bank attributed the poor performance to its own weak debt-collecting system.  The bank has changed its policy by separating debt collection from sales. Having the same staff both collect debts and seek new microfinance borrowers caused problems in the past.

Wet-market vendors, who have no financial records, form the key microfinance customer base. Personal guarantees are often used to manage risk. The bank aims to expand microfinance loans to 500 markets across the country, up from about 100 markets now.

The credit line for a customer is up to 200,000 baht. The highest interest rate is 1.25% monthly or 15% a year, lower than the rate for personal loans. The ceiling rate for personal loans under the central bank's regulation is 28% a year.

[Read full story debt" >here ]

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Vocabulary:

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

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

attribute to: to believe that something is the result of a particular situation, event, or person’s actions - ถือว่าเป็นของ

barrel: a large round container, usually made of wood or metal, with flat ends and, usually, curved sides - ถังใส่ของเหลว

base: a group of people on which someone's power depends -

benchmark: a standard that other things can be compared to, for example, to calculate prices - ตัวเปรียบเทียบ; การวัดเปรียบเทียบสมรรถนะเกณฑ์มาตรฐานหมายถึง การทดสอบเพื่อวัดความสามารถในการประมวลผล หรือการทำงานของ โปรแกรมใดโปรแกรมหนึ่ง หรืออุปกรณ์คอมพิวเตอร์ชนิดใดชนิดหนึ่ง โดยเทียบเคียงกับเกณฑ์มาตรฐาน

bid: an attempt to do something - ความพยายาม 

borrower: a person who takes money from a person or bank and agrees to pay it back to them at a later time - ผู้ขอยืม

ceiling: an upper limit - เพดาน ขีดจำกัด

community: a group of people who share the same job, interests, religion, etc - สังคม

conflict: an angry disagreement between people or groups - ความขัดแย้ง

conventional: usual or normal - ธรรมดา

credit line: money that can be borrowed if needed; already approved - เพดานสินเชื่อ; วงเงินสินเชื่อ

crude oil: oil that is still in its natural state (crude) before processed in a refinery and made into chemicals - น้ำมันดิบ

curb: to control or limit something that is harmful - จำกัดขอบเขต

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

debt collection: the process of getting money from people who stopped paying back their loans -

debt collector: a person who collects money that people have borrowed from a bank, company, or person -

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

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

digital: using a system of receiving and sending information as a series of the numbers one and zero, showing that an electronic signal is there or is not there - ซึ่งรับส่งข้อมูลด้วยการใช้ตัวเลข

expand: to make or become larger - ขยาย เพิ่ม

extreme: much more severe or serious than usual - ที่รุนแรงที่สุด

factor: a fact or situation which influences the result of something - ปัจจัย

financial: involving money - เกี่ยวกับเงิน, ทางการเงิน

global: throughout the world - ทั่วโลก

grade: a level of quality of importance; class, rank, standard - ระดับ, ระดับคะแนน, เกรด

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

guaranteed loan: guaranteed loan; when someone such as a the government agrees to pay back your loan if you cannot pay it back -

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

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

key: very important - ที่สำคัญ

limit: to stop something from increasing beyond a particular amount or level - จำกัด

loan: an amount of money that a person, business, or country borrows, especially from a bank - เงินกู้

major: very large or important - สำคัญมาก

make up: to be part of something, to consist of - Chinese make up 50% of the city's residents

microfinance: the activity of providing loans to poor people and their small businesses that cannot get loans from banks - การเงินรายย่อย

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

non-performing loan (NPL): a loan that is not being paid back as arranged and may never be paid back; a non-performing loan (NPL), bad debt - หนี้เสีย, หนี้สูญ, หนี้ที่ลูกหนี้ไม่ยอมชำระตามกำหนด

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

outstanding: existing -

performance: how well someone does some task or activity; how well they achieve their goals - การปฏิบัติงาน, การทำให้บรรลุผลสำเร็จ

personal loan: a loan for an individual person or people, not a company -

popular: a situation in which someone or something is liked by many people - เป็นที่นิยม, เป็นที่ชื่นชอบ

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

prolong: to cause to continue for a long time - ยืดเวลาออกไป

publisher: a person or company that prepares and prints books, magazines, newspapers or electronic products and makes them available to the public - ผู้จัดพิมพ์

pump: a piece of equipment for making a liquid or gas move into or out of something - เครื่องสูบ(น้ำ etc.)

record: a written account of something that is kept so that it can be looked at and used in the future - การบันทึก, รายงาน

regulation: an official rule that controls the way that things are done - กฎระเบียบ

resume: to begin again after stopping for a period of time - เริ่มอีกครั้ง, กลับมาอีกครั้ง

risk: the possibility that something dangerous or unpleasant might happen - ความเสี่ยง

scenario: a description of possible actions or events in the future - การสมมติสภาพที่เลวร้ายที่เป็นไปได้

slight: small in size or amount - เล็กน้อย

staff: workers employed by a person or organisation considered as a group - คณะผู้ทำงาน, คนงาน

substantially: very much; a lot; in a significant way - อย่างมาก

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

surge: a sudden increase in something - การเพิ่มขึ้นอย่างรวดเร็ว

tablet computer: a small light-weight computer device shaped like a book; e.g, iPad, Galaxy Tab, etc. -

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

title: a name, especially of a book, a move, an event or award - ชื่อเรื่อง, ชื่อหนังสือ, ชื่อเรียก

trend: a gradual change or development that produces a particular result   - ทิศทาง แนวโน้ม

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

wet market: the old style outdoor market - ตลาดสด, ตลาดที่ซื้อขายของสด

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