What's new in business news: November 19, 2013 | Bangkok Post: learning

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What's new in business news: November 19, 2013

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Japan to finance Lao airport plan, income gap widens despite populist outpouring & debate over borrowing outside of parliamentary budget process. 

TRANSPORTATION 

Japan to finance Lao airport plan

In talks between the Japanese Prime Minister Shinzo Abe and Lao Prime Minister Thongsing Thammawong in the Lao capital on Sunday, Abe pledged financial support for a plan to expand the international airport in Vientiane, Laos. The talks covered a wide range of issues from education to infrastructure development assistance.

The Lao government announced a plan to upgrade the airport in April, including the expansion of the international terminal and the construction of a new domestic terminal. The expansion is needed to service higher numbers of visitors coming to Laos. Around 900,000 passengers used the airport in 2012, up from 500,000 in 2010. Japan will loan Laos money to expand the international terminal at the airport.

[Read full story here ]

INCOME INEQUALITY

TDRI: Income gap widens despite populist outpouring

Thailand's current fiscal policies have failed to address income inequality and should be redirected from populist schemes to improving social welfare for the poor, says the Thailand Development Research Institute (TDRI).

The gap between rich and poor in Thailand is bigger than in similar-sized economies such as Colombia, Brazil, Malaysia and Indonesia. In fact, Thailand is the only one of these countries to see an increase in inequality in recent years, whereas the other countries saw a narrowing of the gap between the rich and the poor. Thailand is among the top countries in the world in terms of income disparity, with money concentrated in the hands of a small, wealthy group.

One problem is the misconception that all farmers are poor, resulting in policies catered to the wrong people. According to TDRI research in 2011, out of 17.6 million farmers, only 7.7 million were considered poor. Since then, only 35 billion baht from the current government's rice-pledging scheme has benefited poor farmers, while 85 billion went to rice mills, exporters, politicians and large farms. Instead of subsidies, the budget could go to poor students, the elderly, children, worker training and increased social security benefits.

Populist policies, which are often seen in countries with high income inequality, are an obstacle to escaping the middle-income trap. Though policies such as 30-baht health care and the village fund were effective, the first-car scheme and rice pledging were not. The TDRI yesterday proposed a new economic model based on improving innovation, technology, education and labour skills.

[Read full story outpouring" >here ]

GOVERNMENT 

Debate over borrowing outside of normal parliamentary budget process

The Senate on Monday night voted to maintain the government's version of Section 3 of the two-trillion-baht borrowing bill. The section states the government is not required to specify the projects that will be funded by the loan. The Senate spent over 10 hours debating the bill in its second reading yesterday and managed to pass only three sections of the 18-section bill. The Senate committee changed Section 6 to make it clear the loans must be disbursed through the normal budget process instead of a special process written in the government's version.

Transport Minister Chadchart Sittipunt said about 100 billion baht from the 2-trillion-baht infrastructure plan will be allocated next year. These funds will be spent expanding and repairing Phetkasem and Vibhavadi Rangsit Roads as well as developing dual-track railways between Bangkok and Phitsanulok.

Deputy opposition leader Korn Chatikavanij said the Democrat Party will ask the Constitution Court to rule on the constitutionality of the borrowing bill as soon as it passes the Senate' s deliberation. Mr Korn claims this scale of borrowing, which falls outside the normal budget scope, is unlawful.

[Read full story here ]

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Vocabulary:

address: to deal with a problem - จัดการปัญหา

address: to try to deal with a problem or question - จัดการกับปัญหา

allocate: to officially give out an amount of or share of something - แบ่งส่วน

announce: to tell people something officially, especially about a decision, plans, etc - ประกาศ, แจ้ง, แจ้งให้ทราบ

assistance: help; aid - ความช่วยเหลือ

benefit: money provided by the government to people who need financial help because they are unemployed, ill/sick, etc - เงินสงเคราะห์

bill: a proposal for a law - ร่างกฎหมาย

borrow: to take money from a bank, financial organisation, person, etc. and pay it back over a period of time - ยืม

budget: an amount of money able to be spent on something - งบประมาณ

capital: the most important town or city of a country, usually where the central government operates from - เมืองหลวง

cater to: to try to satisfy a need - จัดหามาเพื่อคนใดคนหนึ่งหรือคนกลุ่มหนึ่ง

committee: a group of people who are chosen, usually by a larger group, to make decisions or to deal with a particular subject - คณะกรรมการ

concentration: a lot of something in one place - แหล่งชุมนุม  หรือ ศูนย์รวม

consider: to regard as; to think of as - ถือว่า

Constitution Court: the court that decides whether or not laws follow the constitution - ศาลรัฐธรรมนูญ

constitutionality: whether or not a law, activity, etc. follows what is allowed in the constitution - การเห็นชอบตามรัฐธรรมนูญ

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

current: of the present time - ปัจจุบัน

debate: a discussion in which people or groups state different opinions about a subject - การอภิปราย, การโต้วาที, การถกเถียง

deliberation: considering or discussing something - การปรึกษาหารือ

deputy: a person who is given the power to do something instead of another person, or the person whose rank is immediately below that of the leader of an organisation - รอง, ตัวแทน,ผู้รักษาการแทน

despite: used to show that something happened or is true although something else might have happened to prevent it; used to show that somebody did not intend to do the thing mentioned - ถึงอย่างไรก็ตาม, ทั้ง ๆ ที่

develop: to think of or produce a new idea, product, etc. and make it successful; to build new houses, factories, etc. on an area of land, especially land that was not being used effectively before - พัฒนา

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

disburse: to pay money to someone from a large amount that has been collected for a purpose - เบิกจ่าย

disparity: a difference between things - ความไม่เหมือนกัน

domestic: inside the country being talked about - ภายในประเทศ

dual: having two parts or aspects - ประกอบด้วยสองส่วน, เป็นคู่

elderly: (of people) old - สูงวัย, อาวุโส, อายุมาก

escape: to get away from a place where you are in danger - หนี

expand: to make or become larger - ขยาย เพิ่ม

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

finance: to provide money for something - จัดหาเงินทุนให้

financial support: help with money - ความช่วยเหลือทางการเงิน

fiscal: connected with a budget; connected with the government budget, i.e., public money - เกี่ยวกับงบประมาณ

fund: money provided for something - เงินทุน กองทุน

fund: to provide money for something - ให้เงินทุน

funded: given money - บริจาค

gap: a large difference between people or groups - ช่องว่าง

in terms of: measured by -

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

inequality: a situation in which people are not equal because some groups have more opportunities, power, money etc than others - ความไม่เสมอภาค

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

innovation: the introduction of new things, ideas or ways of doing something; a new idea, way of doing something, etc. that has been introduced or discovered - นวัตกรรม, การคิดขึ้นใหม่, สิ่งที่นำเข้ามาใหม่

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

issue: a subject that people discuss or argue about - ประเด็น

labour: people whose job involves hard physical work that is not skilled, especially work that is done outdoors - กรรมกร, ผู้ใช้แรงงาน

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

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

managed to: in the end, did do something, but it was difficult and seemed not possible -

mill: a building fitted with machinery for crushing or grinding something - โรงสี

misconception: a belief or an idea that is not based on correct information, or that is not understood by people - ความเข้าใจผิด

model: a simple description of a system, used for explaining how something works or calculating what might happen, etc - แบบจำลอง

narrow: to make less wide - ทำให้แคบลง

normal: typical, usual or ordinary; what you would expect - ปกติ, ภาวะปกติ

obstacle: a difficulty or problem that prevents you from achieving something - อุปสรรค ขวากหนาม

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

outpouring: a strong and sudden expression of feeling - การแสดงความรู้สึกทันที

parliament: the group of people who are elected to make and change the laws of a country; the building where members of parliament meet. - รัฐสภา

pass a bill into law: to make a law proposed in a bill into a law -

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

passenger: someone who travels in a motor vehicle, aircraft, train, or ship but is not the driver or one of the people who works on it - ผู้โดยสาร

pledged: seriously promised to do something - สาบาน

policy: a set of plans or action agreed on by a government, political party, business, or other group - นโยบาย

populist: related to the type of politics that claims to represent the opinions and wishes of ordinary people or to support programmes that will benefit the ordinary people - ประชานิยม

process: a series of actions that you take in order to achieve a result - แนวทางปฏิบัติ, กระบวน, วิธีการ

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

proposed: suggested as an idea for a group to consider - ถูกเสนอ

range: a number of different things that are of the same general type - ขอบข่าย

reading of a bill: one of many times a law is read in front of parliament and voted on and debated, before being passed into law -

recent: happening or starting a short time ago - เร็วๆ นี้

redirect: to divert; to sent in a different direction or route - เปลี่ยนทิศทางใหม่

repair: to fix something that is broken or damaged - ซ่อมบำรุง

research: a careful study of a subject, especially in order to discover new facts or information about it - การวิจัย

result in: cause to happen -

rice pledging scheme: a government programme in which a fixed price, in this case well above the market price, is offered to rice farmers for their harvested rice - การจำนำข้าว

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

scale: the size or extent of something, especially when compared with something else - ขนาด, ระดับ

scheme: a plan that is developed by a government or large organisation in order to provide a particular service for people - แผนการ โครงการ

scope: the things that a particular activity, organisation, subject, etc deals with - ขอบเขต

section: any of the parts into which something is divided - ส่วน, ส่วนที่ตัดออก, ส่วนย่อย

Senate: one of the two groups of politicians who make laws in some countries, for example in the US, Australia, Canada and Thailand - วุฒิสภา

similar: like somebody/something but not exactly the same - คล้ายกัน

skill: the ability to do something well, usually as a result of experience and training - ฝีมือ, ทักษะ

social security: money that the government pays regularly to people who are poor, unemployed, sick, etc - สวัสดิการสังคม,ระบบการประกันสังคม

specify: to explain something in an exact and detailed way - ระบุ  ชี้แจงรายละเอียด

subsidy: an amount of money that a government or organisation pays to help to reduce the cost of a product or service - เงินชดเชยที่รัฐเป็นผู้จ่ายให้

talks: negotiations; when two sides that disagree get together and "talk" to reach some agreement - การเจรจา, การเจรจาต่อรอง

terminal: a large building at an airport where passengers arrive and leave - อาคารผู้โดยสาร

track: the two long metal strips that a train travels along - รางรถไฟ

training: teaching people how to do a certain job or activity - การฝึกอบรม, การฝึก, การอบรม

transport: moving people or things from one place to another - การขนส่ง

transportation: the process of moving people or things from one place to another - การขนส่ง

unlawful: against the law - ไม่ชอบด้วยกฎหมาย, ผิดกฎหมาย

upgrade: to make a project, a piece of machinery, computer system, etc. more powerful and efficient - ยกระดับ

version: a particular form of something which varies slightly from other forms of the same thing - ชุด, เวอร์ชั่น

visitor: a person who goes to a place for a short time; a tourist or guest - นักท่องเที่ยว, ผู้มาเยี่ยม, ผู้มาเยือน

wealthy: having a large amount of money, land, and other valuable things   - ที่มั่งคั่ง ร่ำรวย

welfare: help given, especially by the state or an organization, to people who need it; good care and living conditions - สวัสดิภาพ

whereas: used for comparing two things, people, situations etc and showing that there is an important difference between them - ในทางตรงกันข้าม

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