What's new in business news: October 14, 2013 | Bangkok Post: learning

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What's new in business news: October 14, 2013

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Thai-Chinese agreements on high-speed rail and energy cooperation & Chinese govt to purchase 200,000 tonnes of rice and rubber a year.

TRANSPORTATION 

Thai-Chinese agreement on high-speed rail cooperation 

Thailand and China have agreed to cooperate in developing a high-speed train system linking the two countries. The two leaders presided over the signing of six agreements at Government House on the barter trade of agriculture products for infrastructure development, investment promotion, energy cooperation, science cooperation, maritime operation cooperation, and cultural exchange.

Ms Yingluck said the government agreed that Beijing would help connect regions in Thailand with China through high-speed train projects in which Thailand was willing to work on a government-to-government basis. China has proposed that Thailand act as a clearing house for Chinese currency-based transactions. Central banks from both sides will discuss the details.

Opposition leader Abhisit Vejjajiva, meanwhile, said the government had failed to provide accurate information to the public declaring that the government needed to stop misleading the public and should make clear that its planned 2-trillion-baht infrastructure loan would only cover the costs of the high-speed train route from Bangkok to Nakhon Ratchasima in the seven-year period and not to Nong Khai.

[Read full story here and here ]

AGRICULTURE 

Chinese govt to purchase 200,000 tonnes of rice and rubber a year   

The China National Cereals, Oils and Foodstuffs Corporation (Cofco), a Chinese state-owned food conglomerate, signed a memorandum of understanding (MoU) with Thai rice exporters to buy 200,000 tonnes of Thai rice per year over five years for a total of 1 million tonnes along with 200,000 tonnes of Thai rubber per year. 

A requirement that purchases must be new grains is part of the agreement and the government is willing to allow Cofco and any foreign agencies to inspect the quality of rice in the government's stocks to ensure confidence.

Normally, China has bought Thai rice from the private sector through private companies. Sales through government-to-government contracts may be as high as 60% of rice shipments abroad next year. It is still unclear whether the rice Cofco wants to buy as stated in the MoU includes the amount that China already buys annually from Thailand which is about 300,000 tonnes of Thai rice per year. 

[Read full story here ]

ENERGY

Energy cooperation agreement with China

Thailand and China will join hands in pursuing energy projects in the Greater Mekong Subregion (GMS) countries . Under a memorandum of understanding (MoU) the two countries have agreed to cooperate on technology development in the areas of oil and gas, power grids, energy conservation and energy efficiency. Thailand expressed interest in exchanging the technology and human resource management of nuclear power plants.

Because Thailand's policy on building new power plants remains unclear, it wants to buy power from China to contribute to price and supply stability. In June, the Electricity Generating Authority of Thailand (Egat) signed an MoU to buy 3,000 megawatts of electricity from China Southern Power Grid Co (CSG). The pact was developed from the one signed in 1998 for Thailand to buy 3,000 MW. There are plans for a transmission line linking Yunnan province in southwestern China via Laos to Thailand. Egat earlier negotiated potential power purchases from several companies in China but failed to reach an agreement on pricing.

[Read full story here ]

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Vocabulary:

accurate : correct, exact and without any mistakes - ถูกต้อง, แม่นยำ

agriculture : the science or practice of farming - เกษตรกรรม, การเกษตร

annually : happening every year - ทุกๆปีด

barter : to exchange goods, property, services, etc. for other goods, etc. without using money - แลกเปลี่ยนสิ่งของต่อสิ่งของ

basis : the important facts, ideas or events that support something; the reason why people take a particular action - รากฐาน, หลักพื้นฐาน, หลัก

central bank (noun): the main government bank in a country that controls the supply of loans (credit) and the supply of money in the country and provides financial services to the government and other banks - ธนาคารแห่งชาติ

cereal (noun): food made from the grain of cereals, often eaten for breakfast with milk - อาหารเช้าที่ทำจากธัญพืช (มักจะรับประทานโดยใส่นม)

clearing house : an organization that exchanges payments between customers of different banks - สำนักงานหักบัญชี; หน่วยงานแลกเปลี่ยนเอกสารการเงินหรือหักบัญชีกัน,หน่วยงานแลกเปลี่ยนข่าวกรอง

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

conglomerate : a large company formed by joining together different firms - กลุ่มบริษัทในเครือ

connect : to join together two or more things - เชื่อมต่อ

contract : an official written agreement - สัญญา

contribute : to be a part of a group or an activity and help it to be successful - สนับสนุน

cooperate : to work with other people to achieve a result that is good for everyone involved - ร่วมมือกัน

cooperation : a situation in which people or organisations work together to achieve a result that will benefit all of them - การร่วมมือกัน

cooperation : working together to achieve a result that will benefit all sides - ความร่วมมือ, การทำงานร่วมกัน

cultural (adj.): related to the customs and beliefs, art, way of life and social organization of a particular country or group - วัฒนธรรม

currency (noun): the system of money, usually, but not always, that a country uses - เงินตรา

declare : to announce officially that something is true or happening - ประกาศ ยืนยัน

detail (noun): the small facts or features of something - รายละเอียด, ส่วนเล็กๆ น้อยๆ, ส่วนย่อย

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

efficiency : the ability to work well and produce good results by using the available time, money, supplies etc in the most effective way - ความมีประสิทธิภาพ

energy conservation : the careful use of energy so that it is not wasted -

ensure : to make certain that something happens or is done - ให้การยืนยัน, รับรอง, ให้ความมั่นใจ

exchange (verb): to give one thing and get another - แลกเปลี่ยน

express : to tell someone about a feeling, opinion, or aim by speaking or writing about it - แสดงออก (ทางความคิดหรือความรู้สึก) โดยใช้คำพูดหรือการเขียน, พูดออกมา

grain : the small hard seeds of food plants such as wheat, rice, etc; a single seed of such a plant - เมล็ดข้าว, เมล็ดพืช

Greater Mekong Subregion (GMS) (noun): "a development project formed by the Asian Development Bank in 1992 that brought together the six states of the Mekong River basin, namely Cambodia, Laos, Myanmar, Thailand, Vietnam, and Yunnan Province, China. The GMS is a natural economic area bound together by the Mekong River, covering 2.6 million square kilometers and a combined population of around 326 million" (Source: Wikipedia) -

grid : a system of electric wires for sending power over a large area, or pipes carrying gas - สายไฟฟ้

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

inspect : to look at something carefully - ตรวจสอบ, ตรวจสอบอย่างละเอียด

investment (noun): the act of investing money in something - การลงทุน

join hands : work together on a project -

link : to connect - เชื่อม

maritime : involving ships or the business of moving people and goods in ships - ทางทะเล

meanwhile : at the same time - ในเวลาเดียวกัน

memorandum of understanding (MOU) : a document used to describe a form of a written agreement between two or more groups, countries, etc. The document is not as strong as a contract but outlines a commitment between the two to work together toward the same purpose or goals -

mislead : to make someone believe something that is incorrect or not true - ชักนำไปในทางที่ผิด

operation : a business activity - การดำเนินการทางธุรกิจ

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

pact : an agreement between two or more people or organisations in which they promise to do something - ข้อสัญญา, ข้อตกลง

potential : what is possible - ความเป็นไปได้

preside : to be in charge of an official meeting, ceremony or other event - เป็นประธาน ในพิธี ในที่ประชุม

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

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

promotion : activities done in order to increase the attendance at an event or sales of a product or service - การส่งเสริม

propose : to suggest an idea for a group to consider - เสนอ

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

public : open to people in general; intended to be seen or heard by people in general - อย่างเปิดเผยให้รู้

purchase : to buy something - ซื้อ

pursue : to work at something or carry it out - ทำให้ลุล่วง

quality : the standard of something when it is compared to other things like it; how good or bad something is - คุณภาพ

region : a large area of land or space, usually without exact limits or borders - ภูมิภาค, ขอบเขต, แถบ, บริเวณ

requirement : something that you must have or do in order to do or get something else - ข้อกำหนด, ข้อบังคับ

route : the roads, paths, waterways, etc., used to go from one place to another - เส้นทาง

rubber (noun): a bouncy, elastic material used in car tires and waterproof gloves - กล้ายาง

shipment : a load of goods that are sent from one place to another - ปริมาณสินค้าที่ขนส่งในครั้งหนึ่ง ๆ

sign a contract (verb): agree to do something in exchange for something such as money - เซ็นสัญญา

stability : a situation in which things happen as they should and there are no harmful changes; when something is not likely to move or change - ความมั่นคง, เสถียรภาพ

state : to formally write or say something, especially in a careful and clear way - บอกกล่าว, แถลง, กล่าว

stock : to collect large amounts of things that may be needed - เก็บสะสมไว้ใน

supply (noun): an amount or quantity of something that is available to buy or use - อุปทาน

trade : the amount of goods or services that a business buys and sells - การค้าขาย

transaction : the action or process of buying or selling something - การค้า

transmission lines : the system of wires that send power or energy from one place to another -

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

unclear (adjective): not clear and easy to understand -

willing : to be happy to do something if it is needed - ซึ่งสมัครใจ, ซึ่งมีความตั้งใจ

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