What's new in business news: January 8, 2014 | Bangkok Post: learning

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What's new in business news: January 8, 2014

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Private sector proposal for political reform, avoiding blackouts during natural gas disruptions & Japan to promote infrastructure technology exports. 

Natural gas platform as found in Myanmar's Yetakun and Yadana blocks. Natural gas flowing to Thailand from these fields will be disrupted from Dec 31 to Jan 14.

POLITICS & BUSINESS 

Private sector proposal for political reform

Seven private sector organisations have proposed the formation of a small reform body of about 25 members to recommend reform strategies and facilitate the process of reform. The seven organisations taking part in Friday's discussion were the Board of Trade (BOT) of Thailand, Federation of Thai Industries (FTI), Thai Bankers Association, Tourism Council of Thailand, Stock Exchange of Thailand (SET), Federation of Thai Capital Market Organisations, and the Thai Listed Companies Association. The  organisations hope to become the mediator in the current political deadlock and have proposed a roadmap to reform.

They agreed there is an urgent need for the establishment of a reform body before the planned Feb 2 election and that it should develop models and mechanisms for needed reforms. Representatives would be nominated from various sectors, including the conflicting parties. If there was no agreement within this body on reform, voters could be asked to choose which reform model they prefer and the new government would adopt a reform agenda with a one-year timeframe.  

[Read full article here ]

ENERGY

Avoiding blackouts during current natural gas disruptions

8/01/2014

Natural gas from Myanmar's Yetakun and Yadana blocks is expected to be disrupted from Dec 31 to Jan 14, with a combined amount of 1.1 billion cubic feet per day, or about a quarter of gas consumption in Thailand. The disruption will affect power plants that generate 4,000 megawatts of electricity, accounting for 14% of the power consumed in the country.

The Energy Regulatory Commission (ERC) expects electricity demand to be high from Jan 8-10 as most manufacturers resume production after the New Year holidays. Then consumption should slow the coming week due to the planned shutdown by anti-government protesters.

Seven large electricity consumers agreed last week to cut power consumption by a total of nearly 100 MW, but another 100 MW cut is required to prevent a possible blackout during the gas disruption. The seven operators comprise Siam Construction Steel Co, Thanakorn Vegetable Oil Products Co, Tesco Lotus, Central Pattana Plc, Siam Discovery and Siam Paragon, Siam Makro and Big C. In April, the gas supply from the Gulf of Thailand will also be disrupted, and in June the supply from the Malaysia-Thailand Joint Development Area will be disrupted.

[Read full article here ]

FOREIGN INVESTMENT 

Japan to promote infrastructure technology exports

Kyodo News News agency

The Japanese government has set a goal of tripling infrastructure exports from the current level to 30 trillion yen by 2020 as part of its growth strategy and is setting up a company in 2014 to support Japanese companies which export infrastructure technology and products. 

Starting with Asian nations, including Malaysia and Thailand, the new company will provide not only construction funds for infrastructure in various fields, such as railways, expressways, ports, airports and housing, but also human resources to operate them. Using some 100 billion yen (32 billion baht) the government aims to promote the business through partnerships with private companies and banks, targeting even high-risk emerging economies.

[Read full article here ]

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Vocabulary:

accounting for: being -

adopt: to accept or to start using something new - นำมาใช้

agenda: a list of aims or possible future achievements - วาระ

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

blackout: a sudden loss of electrical power - ไฟดับ

block: an area of land -

body: a group of people who work or act together, often for an official purpose, or who are connected in some other way - กลุ่มคน, นิติบุคคล

combined: counted together - รวมกัน

commission: a group of people who have been formally chosen to discover information about a problem or examine the reasons why the problem exists - คณะกรรมการ, คณะกรรมาธิการ

comprise: to consist or be made up of two or more things - ประกอบด้วย

conflicting: having serious differences that cannot all be right at the same time - ที่ขัดแย้งกัน

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

consume: to eat, drink or use something - บริโภค

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

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

current: of the present time - ปัจจุบัน

deadlock: a situation in which neither person or group involved in a disagreement is willing to change their opinions or positions - หมดหนทาง ไม่มีทางแก้

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

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

discussion: conversation; talk - การสนทนา, การอภิปราย

disrupted: interrupted and prevented from continuing smoothly by creating problems - ขัดขวาง 

disruption: a situation in which something cannot continue because of a problem - การขัดขวาง, การหยุดชะงัก

due to: because of - เนื่องจาก

election (n): the process of choosing a person or a group of person for a position, especially by voting - การเลือกตั้ง

emerging economy: a country that has fast economic growth and is growing rich quickly but is still developing - กลุ่มตลาดเกิดใหม่

establishment: the process of starting or creating something - การสถาปนา, การก่อตั้ง, การจัดตั้ง

export: something sold and transported to another country - สินค้าออก

facilitate: to make it possible or easier for something to happen - ทำให้สะดวกขึ้น

field: an area of specialized knowledge that people work, study, teach and do research in -

formation: the process during which something develops or is created - การสร้าง

fund: money provided for something - เงินทุน กองทุน

generate: to produce - ผลิต, ก่อให้เกิด

goal: aim; purpose - เป้าหมาย จุดมุ่งหมาย

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

gulf: a very large area of sea surrounded on three sides by a coast - อ่าว

high-risk: dangerous; having a high chance of something bad happening - มีความเสี่ยงสูง

human resources: people's skills and abilities, seen as something a company, an organisation, etc. can make use of - กำลังคน, ทรัพยากรมนุษย์

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

level: the amount of something that exists in a particular situation at a particular time - ระดับ

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

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

mechanism: a method or a system for achieving something - กลไก, วิธีการทำงาน, วิธีการ

mediator: a person who talks to two separate people or groups involved in a disagreement to try to help them to agree or find a solution to their problems - ผู้ไกล่เกลี่ย

member: a person, a country or an organization that has joined a particular group, club or team - สมาชิก

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

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

nominated: officially suggested for a job or position - แต่งตั้ง

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

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

party: one of the people or groups of people involved in a situation, an official argument or arrangement - คู่กรณี

plant: a factory that produces power or processes chemicals, etc. - โรงงาน

platform: a structure built high above the ground that you can stand on; a structure built in/above the sea - แท่น

port: an area of water where ships stop, including the buildings around it - ท่าเรือ

power: energy from electricity - พลังงาน, พลังงานกล,พลัง, กำลัง, แรง

prefer: to like or want more than anyone or anything else - ชอบมากกว่า

private: involving groups, businesses or industries that are not owned or controlled by the government - เอกชน

private sector: businesses and industries that are not owned or controlled by the government - ภาคเอกชน

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

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

promote: to encourage or support something - สนับสนุน

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

protester: someone who shows that they disagree with something by standing somewhere, shouting, carrying signs, etc - ผู้ต่อต้าน, ผู้ประท้วง

quarter: one of four equal parts of something; 25 percent - หนึ่งในสี่ส่วน

recommend: to advise someone that they should do something - แนะนำ

reform: a change that is intended to correct a situation that is wrong or unfair - การแก้ไข การปฏิรูป

regulatory: related to "regulations" , official rules on how to do different activities, usually made by the government -

representative: someone who has been chosen or elected by a person or group to vote, give opinions, or make decisions for them - ผู้แทน

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

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

roadmap: plan -

sector: a group that is part of a larger group - ภาค (ทางเศรษฐกิจหรือสังคม)

set up: to create something or start it - ตั้งขึ้น

shutdown: turning something off, so that it is not operating anymore -

steel: A variety of iron intermediate in composition and properties between wrought iron and cast iron (containing between one half of one per cent and one and a half percent of carbon), and consisting of an alloy of iron with an iron carbide. Steel, unlike wrought iron, can be tempered, and retains magnetism. Its malleability decreases, and fusibility increases, with an increase in carbon. - เหล็ก

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

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

take part in: to join and be part of some activity; participate as participant -

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

timeframe: the length of time something is supposed to last - ในกรอบเวลาที่ระบุำไว้

triple: to increase by three times the number or size of something - เพิ่มขึ้นสามเท่า

urgent: needing to be dealt with immediately - ที่เร่งด่วน

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