Thailand has become synonymous with good food. Thai cuisine has an international reputation as good as they get.

As the potential for significant cyberattacks rises globally, the growing intersection of supply chains, connectivity and access to data is creating new vulnerabilities for governments and businesses.

“We view cyber risk as event risk that can have material impact on sectors and individual issuers,”

Moody’s Managing Director Derek Vadala

Banks, securities firms, financial market infrastructures and hospitals, all of which rely heavily on technology for operations, distribution of content or customer engagement are at high risk, says Moody’s Investors Service in a new report.

“Data disclosure and business disruption are the two primary types of cyber event risk that we view as having the potential for material impact on issuers’ financial profiles and business prospects.”

Moody’s Managing Director Derek Vadala

Four sectors with $11.7 trillion in rated debt outstanding have high risk exposure to cyber-attacks

To develop a framework for understanding inherent cyber risk at the sector level, Moody’s focuses on

1) vulnerability to the type of attack or event to which entities in a given sector are exposed, and

2) potential impact of cyber events via disruption of critical businesses processes or negative reputational effects that lead to a loss of revenue as a result of customer attrition, for example.

Moody’s report classifies high-risk, medium-high risk, medium-low risk and low-risk sectors and also quantifies total rated debt outstanding for each classification. In this report, Moody’s has classified 35 total sectors and over $70 trillion total debt outstanding.

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Source link : $11.7 trillion rated debt have high risk exposure to cyber-attacks by Bahar Karaman

The Thai baht has been relentless in its pursuit of the dollar, with the baht set to finish the financial year once again as one of Asia’s strongest performing currencies.

The Thai baht’s climb against the dollar is the most impressive out of all currencies in the past six months; a real fillip for a country that experienced intense financial instability earlier in the decade. 

While the strength of the currency is something to be celebrated from one perspective, others with a more cautious outlook have warned that the baht’s continued growth spells bad news for Thailand’s export markets.

While prospective visitors and investors from overseas might be more inclined to look to Thailand as a result of its dependable currency, there is a growing concern that a strong baht will undermine the country’s export markets. This concern is exacerbated by the fact that around two-thirds of Thailand’s GDP is derived from exporting goods and services.

Exports have already begun to fall in recent months, with Commerce Ministry officials declaring their fear that continued currency strength could hinder Thai exports.

In December, the Bank of Thailand increased the benchmark interest rate by a quarter point to 1.75 percent, the first time it had initiated a rise since 2011.

This increase was instigated with the intention of reducing fiscal risk and normalizing policy, but there’s little that’s normal about the relentless rise of the Thai baht. 

Reasons to be cheerful

While fears of political elections in March causing a period of financial uncertainty are understandable, the United Overseas Bank Ltd has allayed concerns by acknowledging that the two main political parties are predominantly focused on matters of society and infrastructure. This should allow the baht to remain strong throughout February, a month in which the currency has traditionally performed well.

Whoever is in power after the elections in March will not only inherit a strong currency, but also a tourism sector that has begun to flourish once again.

The tourism sector accounts for approximately one-fifth of Thailand’s economy, which makes the industry integral to the nation’s financial prospects. In an analysis of the baht’s history, TopRatedForexBrokers acknowledged how the capital Bangkok and a wide collection of beach resorts are traditionally among the most popular tourist attractions for overseas visitors.

TRFB’s site is also available in Thai, a testament to the nation’s strong position on the global financial stage. The continued growth of the baht will prompt more foreign investors to look with interest towards Thailand.

Leading the financial world

Source link : Relentless rise of Thai baht causes exporting concerns by Chris Green

The Eastern Economic Corridor (EEC) Policy Committee reviewed 86 projects worth 13 billion baht ($420 mln) in a meeting on Friday.

Chaired by Prime Minister Gen Prayut Chan-o-cha, the EEC Policy Committee tabled investment proposals from the Ministry of Education, the Ministry of Labour, the Ministry of Science and Technology, and the Ministry of Natural Resources and the Environment.

The committee was informed of 86 projects being developed along Thailand’s east coast between 2018 and 2021 and a plan to produce as many as one million skilled workers over the next 12 years to meet the demand of industries in the EEC zone and other special economic areas.

The 86 projects require a budget of 13 billion baht. In addition, the committee acknowledged other investment projects including the high-speed rail project connecting three major airports – Suvarnabhumi, Don Mueang, and U-Tapao – as well as phase three of the Laem Chabang Port expansion and the establishment of an aviation maintenance facility in Thailand’s east. National News Bureau Of Thailand

The post EEC committee reviews 86 investment projects worth 13bln baht appeared first on Thailand Business News.

Source link : EEC committee reviews 86 investment projects worth 13bln baht by Thai News ข่าวไทย

Bangkok has now become the second most expensive city to live in within ASEAN, losing only to Singapore.

Phuket, Pattaya, and Chiang Mai have also made their way onto the top 10 list of most expensive cities to live in ASEAN.

Numbeo has reported the list of cities in ASEAN with the highest cost of living in 2019 on January of the year.

Numbeo is the largest database with data contributed from citizens of the world. Numbeo concludes their cost of living information based on housing prices, health care database, average food costs, and more.

The website currently has 4,983,263 prices in 8,819 cities entered by 417,569 contributors from all over the world.   Thailand is known for its cheap food and cheap living expenses, but today this is not so true in Bangkok.

The average cost of living for one person in Bangkok is 21,000 THB, the cost of housing or rent is not included in this number.

For a family of 4 people living in Bangkok, the average is at 75,800 THB, and this number does not include rent or housing costs. Cost of living in Bangkok is the 2nd highest in ASEAN.

The post Bangkok 2nd most expensive city in ASEAN appeared first on Thailand Business News.

Source link : Bangkok 2nd most expensive city in ASEAN by Boris Sullivan

The Ministry of Digital Economy and Society (DE) revealed that Thai e-Commerce grew the most in ASEAN with changes in consumer behaviour in 2018, estimating that the value would shoot up to 3.2 trillion baht.

The number of Internet users in Thailand has grown 4 times over the past 10 years, and many Thai-International platforms have grown to support the number of online shoppers, along with increasing confidence in e-Payment and faster logistics and delivery services.

Service providers have chosen to use Big Data to analyse the behaviour and needs of consumers, while AI is being used to develop the quality of the product and services through uses of Chatbots.

Trends show that growth will continue with the arrival of 5G, creating new innovations that will lift up the quality of life for consumers.

Mrs. Surangkana Wayuparp, the Executive Director and CEO of Electronic Transactions Development Agency (Public Organization) or ETDA, Ministry of Digital Economy and Society (DE) revealed that the results of surveys that value of e-Commerce in Thailand has grown consistently between 8-10% per year. ETDA has been collecting these statistics since 2014.

From 16 to 45 millions Internet users in 10 years

When comparing the number of Internet users over the past 10 years, there were only 16.1 million Internet users in 2008; latest information revealed that in 2017, there were 45.2 million users.

Thai e-Commerce is to develop even further because, statistically, Thailand has over 45 million Internet users (in 2018), 124.8 million mobile subscribers (2019), 44 million people using LINE messenger (2019), 52 million Facebook users (2019), and there is a trend that points to the value of e-Commerce in Thailand reaching up to 3.2 trillion baht (2019)

This reflects the change in consumer behaviour that has come as a result of the changes in technology and communication devices, as well as the reduction of the price of these devices and services, which has resulted in more people having more online access.

This has resulted in the e-Commerce market of Thailand growing as well, including increasing numbers of both buyers and online sellers, which is also in line with the growth of platforms by Thai and international businesses.

The post Thai e-Commerce Shoots up to 3.2 trillion baht in 2018 appeared first on Thailand Business News.

Source link : Thai e-Commerce Shoots up to 3.2 trillion baht in 2018 by Olivier Languepin

WHA invested 1.3 billion Thai baht [41 million USD] in development projects for automation, distribution, and data centers.

The Thai Minister of Industry, Uttama Savanayana, stated that the Chinese e-commerce giant Alibaba and the Thai distribution and industry company, WHA Corporation Plc, have made joint investment plans.

WHA is registered in the Stock Exchange Thailand (SET) and recently obtained permission from the development committee for the Easter Economic Corridor (EEC) in Thailand to establish a special e-commerce district.

In concrete terms, WHA purchased an area of 371.2 thousand square meter in Bang Pakong, Chachoengsao, for their special e-commerce district.

WHA also invested 1.3 billion Thai baht [41 million USD] in development projects for automation, distribution, and data centers.

“These two companies have become partners in the e-commerce district project of Chachoengsao. Apart from the company presence on the ground, this project also supports the national distribution system and online trade services.”

Thai Minister of Industry, Uttama Savanayana

“Alibaba plans to construct a distribution center and provide services to the e-commerce market in Southeast Asia,” said Mr. Uttama.

This is according to Mr. Uttama who added that the government encouraged this innovative project to lift the level of technology to new heights. At the same time, Alibaba seeks to invest more in Thailand and expand its business in Southeast Asia.

“The special e-commerce district includes a research and development center, and a development center for small and medium companies.”

Thai Minister of Industry, Uttama Savanayana

He further stated that Alibaba hopes to link the small and medium companies in this area into a supply chain that delivers products for their e-commerce market.

They also hope to attract more Chinese companies to invest in Thailand.

The post Alibaba and WHA Corporation Plc jointly invest in EEC e-commerce project appeared first on Thailand Business News.

Source link : Alibaba and WHA Corporation Plc jointly invest in EEC e-commerce project by Yuan Fang

The Tourism Authority of Thailand (TAT) as announced that the Royal Thai Government has approved the extension of the visa-on-arrival fee waiver for citizens of 20 countries until 30 April.

The decision was announced in the Royal Thai Government Gazette on 11 January, reasoning it as a measure to stimulate and promote tourism as well as to enhance the kingdom’s attractiveness among foreign visitors during the high travel season.

Mr. Yuthasak Supasorn, Governor of the Tourism Authority of Thailand (TAT), said the continuation of the stimulus visa-on-arrival measure came at a perfect time as Thailand is set to celebrate Chinese New Year in February and the Thai New Year (Songkran) in April.

List of countries eligible for the visa-on-arrival fee waiver until 30 April

Citizens of Andora, Bulgaria, Bhutan, China including Taiwan, Cyprus, Ethiopia, Fiji, India, Kazakhstan, Latvia, Lithuania, Maldives, Malta, Mauritius, Papua New Guinea, Romania, San Marino, Saudi Arabia, Ukraine and Uzbekistan will be exempted from the 2,000 Baht visa-on-arrival fee for the purpose of touring in Thailand for not more than 15 days.

Chinese New Year celebrations are huge in Thailand, and this year will mark the 15^th anniversary of cooperation between TAT, the Ministry of Culture and Tourism of the People’s Republic or China, and the Chinese Embassy in organising annual Lunar New Year festivities in Thailand. This year’s date falls on 5 February.

More than 10 million Chinese tourists in 2018

During the summer, and the following months of September and October, the number of tourists from China had dropped significantly, due to a boat tragedy in Phuket which killed more than 45 people, mostly Chinese,

But according to the latest estimations the number of Chinese tourists has picked up and is to be significantly higher than 10 million in 2018, a 7% increase from last year.

Mr. Yuthasak said: “This year, the Chinese New Year official opening ceremony will be held at Siam Square, one of the most popular shopping areas in Bangkok. We aim to attract more of the younger generation to enjoy the traditional performances.”

Every year, China sends over 100 traditional Chinese dancers and musicians, martial artists, Chinese opera performers and acrobats from several cities in a cultural exchange. In addition to the opening ceremony, typically held at Bangkok’s Yaowarat (China Town), performances are also held in key cities around Thailand where Chinese New Year is celebrated in grand style. In return, TAT organises education tours of Thailand for the performers.

For the Thai New Year (Songkran), TAT will continue its strategy to promote Thai traditions and cultural values, the core…

Source link : Thailand extends Free visa-on-arrival until 30 April 2019 by Zhong Li