What's new in business news: June 19, 2014

What's new in business news: June 19, 2014

World Cup fashion fever, NBTC set to lose grip on TV auction riches & 2015 infrastructure projects could run to B100bn.

Sportswear for the whole family featuring the colours of favourite teams are popular this World Cup season.

FASHION

World Cup fashion fever

World Cup fever has struck Thailand and even people who do not watch football matches are in a party mood, and all kinds of businesses — clothes, food, home décor and even beauty products have jumped on the happy bandwagon. You have numerous fashion options you can pick to show off your World Cup spirit. Attire from Bossini’s Summer 2014 collection (See photo on top) features symbols of leading World Cup teams such as England, Spain, Germany, Brazil, Italy and Portugal. The collection includes menswear, womenswear and childrenswear to outfit the whole family.

Comfy footwear brand Crocs has introduced a line of sandals (formal word) or flip flops (informal word) named Crocband Flag Clog (1,390 baht) printed with national flags of five favourite teams, including Brazil, Argentina, Spain, Germany and the Netherlands. Another option is Crocsband Flag Flip (990 baht) in both adults and kids sizes, featuring the same five flags. Havaianas has launched another collection Teams II for the World Cup season with a signature design with the colour of the flags from more than 20 countries, with the number 10 that only the superstar player of a team can wear. Versace has created a special T-shirt using the colours of a Brazilian carnival (see photo), decorated with repeated images of footballs and flowers with gold chains and leopard print for added luxury. At the heart of the T-shirt is the iconic Medusa head. The T-shirt, in silk satin for her and cotton jersey for him, is now available in select boutiques. Armani Jeans also offers a collection of themed T-shirts with the classic signature logo re-mastered in the eight major countries' home colours — Italy, Germany, Brazil, France, Spain, Argentina, USA and England.

Women can also express their world cup fever in other creative ways including painting their fingernails in symbolic colours, such as yellow and green for Brazil fans. Peel off nail stickers are also available at many beauty stores. Recommended nail salons where you can get nail art done or just a good manicure include @TheNailTrail, @OhMyGoshPolish, @SeizeTheNail and @NailDecor to get cool inspirations and ideas, and ask your nail artist to work his or her magic on your nails.  Or if fancy make-up is your thing, invest in a multicolour eye palette and use your eye make-up to represent your Fifa spirit. You can also use longwear eyeliner in funky colours to draw art on your cheeks which is safer and skin-friendlier than plain face paint. Eyeshadow also makes great face paint. Simply use damp cotton buds and dip them in the make-up palette (try Color My Life Makeup Palette from Sephora, 1,690 baht) to create your own skin art. Dip-dyed hair is another fun option to consider. Of course, you probably wouldn’t want to spend months with, say, blue and white hair. That’s where temporary DIY dip dye comes in handy. Mix hair gel and eye shadow in a bowl and paint your hair with that mixture. Cheaper eye shadow works as well, and might actually be a wiser choice since you will need to use a lot of it.

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TELECOMMUNICATIONS

NBTC set to lose grip on TV auction riches

The National Council for Peace and Order (NCPO) is planning to order the national broadcasting and telecom regulator, the National Broadcasting and Telecommunications Commission (NBTC), to hand over to the central government the tens of billions of baht in revenue it obtained from the auction of digital TV spectrum. The move follows the Office of the Attorney-General's (OAG's) finding that the NBTC is unable to manage the money efficiently under the law. The NCPO wants to overhaul the NBTC's budget and revenue structure to improve transparency and public accountability.

According to the OAG probe, the massive sum of money, particularly the revenue from the auction of digital TV frequencies worth 50.8 billion baht, is managed on an off-budget basis which is not in line with the spirit of the constitution. The NBTC independently manages the proceeds without any scrutiny by state experts such as the Budget Bureau and the National Economic and Social Development Board (NESDB). The state auditing agency also questioned the criteria and qualifications which the NBTC uses in recruiting its board members, which has raised questions over whether these people are qualified to manage the money or oversee telecommunications and broadcasting affairs

The military junta also looks set to revamp some sections of the 2010 Frequency Allocation Act (FAA) to help TOT Plc regain its concession revenue to help the state telecom enterprise's ailing financial status, and eliminate loopholes in the law. Another important legal loophole which needs amending is Section 84 of the FAA, which stipulates that TOT, which is a state telecom enterprise, cannot book any revenue related to concessions in its financial statements. The law has required the state firm to pass this revenue to state coffers since Dec 20, 2013. This rule has hurt TOT's financial status as the state enterprise is bracing for a hefty operating loss of 10 billion baht this year after reporting a profit of 4.3 billion baht in 2013.

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GOVERNMENT INVESTMENT

2015 infrastructure projects could run to B100bn

The first-year investment budget for the 2.4-trillion-baht infrastructure plan to be proposed today by the transport strategy committee is expected to reach 100 billion baht. The seven-year plan, starting in 2015 and ending in 2022, is likely to get the go-ahead, although some details and budgets could be further revised. Most railway projects will be financed by the fiscal budget and loans, while most road projects will be funded by the fiscal budget and public-private partnerships (PPPs). The revised plan has shelved high-speed train projects worth about 780 billion baht and added aviation improvements, motorways connecting Bangkok to adjacent cities and dredging projects for a combined 1 trillion baht. During the first year of the plan, investment is projected to fall within 100 billion baht, with the greater part spent on construction design, environmental studies and appropriation (but not construction costs). One stumbling block was that investment through PPPs could turn off investors who recalled the state's past broken promises and adjustments to fees already agreed in contracts.

Projects ready to be carried out include four-lane roads, some dual-track rail and three electric train lines: the Orange Line from Thailand Cultural Centre to Min Buri, the Pink Line from Kaerai to Min Buri, and the Yellow Line from Lat Phrao to Samut Prakan. Experts say a restructuring of the State Railway of Thailand (SRT) is needed before railway projects proceeded because the efficiency and ability of the state enterprise SRT may not be sufficient to run these projects. Another option is for the SRT to rent out its rail networks and let a private enterprise operate them. Feasibility studies were done and environmental impact assessments should be completed before projects begin. Fair compensation should also be paid to land owners to compensate for appropriated land. Compensation tends to be much lower than the actual market price. Those benefiting from land sales should be taxed for their additional gains and those land owners whose lands are expropriated should get just compensation from the government. In the past most projects historically have been centred on Bangkok. A master plan for long-term development of all regions including infrastructure projects, instead of a focus solely on Bangkok alone would be an effective way to narrow the gap between Bangkokians and people living outside this developed city.

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World Cup themed designer shirts.

World Cup sandals.

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Vocabulary

  • accountability: a situation where people have the right to ask you about or criticise you for something that has happened - ความน่าเชื่อถือ
  • adjacent: very near, next to, or touching - ติดกัน
  • adjustment: a change in something that makes it better, more accurate, or more effective - การปรับเปลี่ยน
  • affairs: political, social, and economic events that are happening now - กรณียกิจ, กิจธุระ, การเมือง
  • agency (noun): a government department that provides a particular service - หน่วยงานราชการ
  • ailing: experiencing difficulty and problems -
  • appropriation: to take something legally - การจัดสรรไว้
  • attire (noun): clothes - เครื่องแต่งกาย, เครื่องแต่งตัว
  • auction: a usually public sale of goods or property, where people make higher and higher bids (= offers of money) for each thing, until the thing is sold to the person who will pay most - การขายโดยการประมูล, การขายทอดตลาด
  • audit: to officially examine the financial records of a company, organisation, or person to see that they are accurate - สอบบัญชี
  • available: that you can get, use, find or buy - มีอยู่, หาได้
  • aviation: the flying of aircraft - การบิน
  • bandwagon (noun): an activity that more and more people are becoming involved in - กิจกรรมที่มีคนจำนวนมากเข้าร่วม
  • basis (noun): the idea or system that something is "based" on - พื้นฐาน,รากฐาน,หลักสำคัญ
  • board: a group of people who have the responsibility of managing important business or government activities - คณะกรรมการ
  • book revenue: record revenue in accounting system and financial reports of a company -
  • boutique: (of a business) small and offering products or services of a high quality to a small number of customers - ร้านเล็กๆ ที่ขายสินค้าหรือบริการที่เฉพาะเจาะจง เช่น ร้านขายสินค้านำเข้า
  • brace: to get ready for something unpleasant - เตรียมใจ
  • brand: a type of product made by a particular company - ตรา, ยี่ห้อ
  • broadcasting (noun): the sending out of a programme on television or radio - กระจายเสียง,กระจายข่าว
  • broken promises: promises that were not kept; someone made a promise but did not do what they promised to do -
  • budget: an amount of money able to be spent on something - งบประมาณ
  • carnival: an outdoor entertainment at which people can play games to win prizes, buy food and drink, etc, usually arranged to make money for a special purpose; a public festival, usually one that happens at a regular time each year, that involves music and dancing in the streets, for which people wear brightly coloured clothes - งานรื่นเริง, งานเฉลิมฉลองของมวลชน, เทศกาลสนุกสนาน
  • chain (noun): a series of connected metal rings, used for pulling or fastening things; a length of chain used for a particular purpose - โซ่
  • cheek: on of the soft parts of your face below your eye and between your mouth and ear - แก้ม
  • classic: a book, film/movie or song which is well known and considered to be of very high quality - งานทางศิลปะแบบคลาสสิค
  • coffer: a place where money is kept -
  • collection (noun): a group of objects, often of the same sort, that have been collected (gathered together over period of time) - สิ่งของที่รวบรวมไว้, การสะสม การเก็บรวบรวม
  • combined (verb): mixed or put together; done together - รวมกัน
  • comfy: (informal) very comfortable - สะดวกสบาย (คำไม่เป็นทางการ)
  • committee: a group of people who are chosen, usually by a larger group, to make decisions or to deal with a particular subject - คณะกรรมการ
  • concession: a right that is given to a person or group to do a particular activity - สัมปทาน
  • constitution: the set of laws and basic principles that a country in governed by - รัฐธรรมนูญ
  • construction: the work of building or making something, especially buildings, bridges, etc. - การก่อสร้าง
  • contract: an official written agreement - สัญญา
  • cool: used to show that you really like something because it is fashionable, attractive and often different - ดีเลิศ (คำสแลง)
  • cotton (noun): a plant grown in warm countries for the soft white hairs around its seeds that are used to make cloth and thread - ฝ้าย, ต้นฝ้าย
  • creative: involving a lot of imagination and new ideas - ซึ่งมีความคิดริเริ่ม, ซึ่งมีความคิดสร้างสรรค์
  • criteria: a standard that is used for judging something or for making a decision about something - บรรทัดฐาน
  • decor: things and decoration used to make the inside and outside of a place nice to see and be in - การตกแต่ง, การประดับประดา
  • decorate: to make something look more attractive by putting nice things on it or in it - ประดับ, ตกแต่ง
  • dip: to lower something, usually into a liquid, for a moment before taking it back out again - จุ่ม
  • dredge: to remove unwanted things from the bottom of a river, canal, lake, etc. using a sucking or other device - ขุดลอก
  • efficiently: done in an effective, organised way - อย่างมีประสิทธิภาพ
  • eliminate: to get rid of completely - กำจัดหรือขจัดให้หมดไป
  • enterprise: an organisation, especially a business - กิจการ, บริษัท,อุตสาหกิจ,วิสาหกิจ
  • environmental: involving the place in which people live and work, including all the physical conditions that affect them - เกี่ยวกับสภาพแวดล้อม, สิ่งแวดล้อม
  • expert: someone who has a particular skill or who knows a lot about a particular subject - ผู้เชี่ยวชาญ
  • fan (noun): a person who likes something very much such as a famous singer or TV show - คนคลั่งในสิ่งหนึ่งสิ่งใด,คนคลั่ง
  • fancy: unusually complicated; intended to impress other people - ไม่ธรรมดา, งดงาม, วิเศษ
  • favourite (adj): something/someone you like the best of all similar things - ที่ชอบมากที่สุด, ที่โปรดปราน, ของโปรด
  • feature: to include someone or something as an important part - มีบทบาทสำคัญใน
  • fee: an amount of money that someone pays to be allowed to do something, or in this case, to hire someone - ค่าธรรมเนียม, ค่าจ้าง
  • fever: great interest or excitement about something - ความตื่นเต้น
  • finance: to provide money for something - จัดหาเงินทุนให้
  • financial: involving money - เกี่ยวกับเงิน, ทางการเงิน
  • financial statements: the official statement of business operations for a period of time such as a year, that shows a profit and loss statement and balance sheet describing assets, liabilities and net worth - งบการเงิน
  • fingernail: the hard covering at the end of people's fingers - เล็บมือ
  • firm: a business or company - บริษัท
  • fiscal (adj.): connected with a budget; connected with the government budget, i.e., public money - เกี่ยวกับงบประมาณ
  • flag (noun): a piece of cloth with a special coloured design on it that may be the symbol of a particular country or organization, or may have a particular meaning. A flag can be attached to a pole or held in the hand - ธง
  • footwear: shoes, sandals, flip flops and other things you wear on the feet -
  • formal: very correct and suitable for official or important occasions - เป็นพิธีการ
  • frequency: the number of times that a wave, especially a sound or radio wave, is produced within a particular period, especially one second - ความถี่
  • fund: to provide money for something - ให้เงินทุน
  • go-ahead (noun): permission to do something; being allowed to do something - การอนุญาต,การอนุมัติ
  • hefty: large; expensive - หนัก,ใหญ่, แพง
  • iconic: well known and acting as a sign or symbol of something - มีชื่อเสียงและเป็นสัญลักษณ์แทนบาง
  • image: a photograph, painting, or other work of art that represents a person or thing - รูปภาพ
  • improve: to make better - ทำให้ดีขึ้น
  • improvement: when something gets better or when you make it better - การปรับปรุง, การทำให้ดีขึ้น
  • in line with: following a rule or system; also in accordance with and consistent with - สอดคล้องกับ
  • independently: without help from others - พึ่งตนเอง
  • informal: relaxed and friendly - กันเอง, ไม่เป็นทางการ, ไม่เคร่งครัด
  • inspiration: someone or something that gives you new ideas or enthusiasm to do something - แรงบันดาลใจ
  • invest: to spend money on something in order to make it better or more successful - ลงทุน
  • investment (noun): the act of investing money in something - การลงทุน
  • 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
  • jersey: a sports shirt with the design a team on it -
  • launch: an event held to announce or start selling a new product or service to the public - การเริ่มปฏิบัติการ, การออกตัวของสินค้า, การเริ่มวางขาย
  • leading (adjective): among the first and most important in a group - ชั้นหนึ่ง, ชั้นแนวหน้า, ชั้นนำ
  • legal: relating to the law or lawyers - เกี่ยวกับกฎหมาย
  • loan: an amount of money that a person, business, or country borrows, especially from a bank - เงินกู้
  • logo: a printed design or symbol that a company or an organization uses as its special sign - โลโก้, เครื่องหมาย
  • loophole: a small mistake in an agreement or law which gives someone the chance to avoid having to do something - ช่องโหว่ในกฎหมาย, จุดอ่อน, ข้อบกพร่อง
  • luxury: the best and most expensive of something - ที่หรูหรา 
  • make-up (noun): the different things, people, etc. that combine to form something; the way in which they combine; composition - ลักษณะ, การจัดวางองค์ประกอบ
  • manicure: the care and treatment of a person's hands and nails - การตกแต่งเล็บและมือ (การเสริมสวย)
  • massive: very large in size, amount or number - ใหญ่โต
  • match: a sports competition - การแข่งขัน
  • member: a person, a country or an organization that has joined a particular group, club or team - สมาชิก
  • menswear: clothes that men wear -
  • mixture: a combination of different things - การผสม
  • mood: the way you feel at a particular time - อารมณ์
  • multi-: more than one; many - มาก, หลาย
  • nail: fingernail -
  • national (adjective): for the whole country - แห่งชาติ, ของชาติ
  • numerous: many - มากมาย
  • obtain: to get something that you want or need, especially by going through a process that is difficult - ได้มา, ได้รับ
  • option: a choice; something that you can choose in a particular situation - ทางเลือก
  • outfit: to provide somebody/something with equipment or clothes for a special purpose - ติดตั้งเครื่องมือ,จัดสัมภาระ
  • overhaul: to improve something so that every part of it works properly - ปรับปรุงใหม่
  • oversee (verb): (past form: oversaw) to watch or organise a job or an activity to make certain that it is being done correctly - คุมงาน,ควบคุม
  • palette: a range of colours -
  • palette: a range of colours - แผ่นผสมสี
  • particularly: especially, or more than usual - โดยเฉพาะ
  • peel off (verb): to remove the outer layer of something - ลอกออก
  • plain: ordinary; with nothing added - ธรรมดา
  • probe: an investigation - การสอบสวน
  • proceeds (noun): money gained from some activity - รายได้
  • profit: money that you make from selling goods and services after all your costs have been paid - กำไร
  • projected: calculated based on information already known - คาดคะเน, ประเมิน
  • propose: to suggest an idea for a group to consider - เสนอ
  • public: the public; all people; the people in general - มหาชน, ประชาชน
  • public (adj): belonging to the government -
  • public-private partnership (noun): a project financed and operated through a partnership of government and private sector companies, a contract in which the company provides a public service or project and assumes substantial financial, technical and operational risk in the project, also called PPP, P3 or P3 (Source: Wikipedia) -
  • qualification (noun): a skill or type of experience that you need for a particular job or activity; an exam that you have passed or a course of study that you have successfully completed - คุณวุฒิ, คุณสมบัติ
  • qualified (adj): able to do something, because you have the knowledge, skill, or experience that is needed - มีคุณวุฒิเหมาะสม, มีคุณสมบัติ
  • question: to have or express doubts or suspicions about something - สงสัย
  • recall: to remember - จำได้ นึกทบทวน
  • recommended: suggested; saying that something is very good or useful - เป็นที่แนะนำ
  • recruit: to get someone to work in a company or join an organisation - จ้างงาน  จัดหาเจ้าหน้าที่หรือบุคคลากร
  • regain: to get back something that was lost or taken away - ได้กลับมา
  • repeat: something that happens again, i.e., which is very similar to a previous happening - การกระทำซ้ำ
  • revamp: to make a major change or revision to something - ปรับปรุงใหม่
  • revenue: income from taxes or business activities - รายได้
  • revise: to change, improve, or make additions to something - แก้ไข
  • salon: beauty salon - ร้านเสริมสวย
  • sandal: a light shoe that is partly open on top and does not cover your heel or toes - รองเท้าแตะ
  • satin: a type of cloth with a smooth shiny surface - ผ้าต่วน, ผ้าแพรต่วน, ผ้าซาติน
  • scrutiny: careful and thorough examination - การตรวจสอบอย่างละเอียด
  • season (noun): a period of time during the year - ฤดูกาล, ช่วงเวลา, ระยะเวลา
  • section: any of the parts into which something is divided - ส่วน
  • select (adj): specially chosen - ถูกคัดเลือก
  • shelve: to decide not to use something such as a plan or suggestion now, although you may use it later - เลื่อนไปก่อน
  • show off: to behave in a way that is intended to attract people’s attention and make them admire you - อวดตัว
  • signature (adj): something special or unique about someone or something; a particular quality that makes something different from other similar things and makes it easy to recognise - สัญลักษณ์
  • silk: a type of fine smooth cloth made from silk thread - ผ้าไหม
  • spectrum (noun): a range of something, in this case, frequencies available to telecommunications businesses - สเปกตรัม
  • spirit: courage, determination or energy - เจตนา, ความมุ่งมั่น
  • spirit: the real or intended meaning or purpose of something; the typical or most important quality or mood of something - เจตนา
  • state: government - รัฐบาล
  • status: position - สถานภาพ
  • sticker: a sticky label (paper, plastic, etc.) with a picture or message on it, that you stick onto something - สติ๊กเกอร์
  • stipulate: to state exactly how something must be or must be done - ระบุ, ระบุเงื่อนไข
  • strategy: a plan or method for achieving something, especially over a long period of time - ยุทธวิธี, แผนการ  
  • struck (past of strike): suddenly came into the mind; suddenly created a thought or feeling - ประทับใจ
  • structure: the way in which the parts of something are connected together, arranged or organised - โครงสร้าง
  • stumbling block: an obstacle; a difficulty or problem that prevents you from achieving something - อุปสรรค ขวากหนาม
  • sum: an amount of something, especially money - จำนวนเงิน
  • symbol: someone or something that represents a particular idea or quality - สัญลักษณ์
  • symbolic: representing something important, but in this case, not the real thing - เป็นสัญญาณ เป็นสัญลักษณ์
  • telecom: a business in the telecommunications industry - โทรคมนาคม)
  • telecommunications: the science and technology of sending information by telephone, radio, or television - โทรคมนาคม
  • temporary: done or used for only a limited period of time, i.e., not permanent - ชั่วคราว
  • theme: the main subject of something - ใจความสำคัญ, ประเด็นหลัก
  • transparency: an honest way of doing things that allows other people to know exactly what you are doing - ความโปร่งใส
  • transport: moving people or things from one place to another - การขนส่ง
  • turn off: make people not interested in something -
  • whole (adjective): all of something - ทั้งหมด
  • womenswear: the clothes that women wear -
  • worth: having a value in money, etc - มีค่า, มีมูลค่า
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