- April 23, 2024
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Kasikorn Trading Room reveals that the baht has depreciated the most in 6 months due to a fall in gold prices. The dollar strengthens Dividend payment season
Date: April 23, 2024 Mr Kobsit Silpachai, Executive Officer of Economic and Capital Market Research Kasikorn Bank revealed that the Thai baht was the weakest since October 2023 at 37.06 baht / US dollar this morning due to the sudden drop in prices gold (-2.4% yesterday), while the US dollar is still very strong. Amidst the support of being a safe asset and the United States Federal Reserve (Fed), which is likely to maintain interest rates longer than originally expected.
In addition, the baht is also under pressure from currencies in the same region that are continuously depreciating, such as the yen (1 54.78 yen / US dollar), which is the weakest in 34 years, and the yuan (7.24 yuan / US dollar). ) ) that is the weakest since mid-November 2023,
Thirty Years Of Democracy In South Africa: A…
2024-04-22 22:09:03
At the end of April, South Africa is celebrating 30 years of the first multiracial elections and the advent of democracy. On April 27, 1994, after a historic election, Nelson Mandela was elected president, and the country turned the page on the apartheid years. Since then, the ANC has remained in power. The economy has continued to develop, and the country is now one of the most industrialized on the continent, but the results are rather mixed.
From our correspondent in Johannesburg,
For economist Azar Jammine, the country has in fact experienced two periods since 1994: before and after the presidency of Jacob Zuma, marked by corruption. “ The first fifteen years were quite successful. The country experienced an average growth of 3% per year, between 1994 and 2001. And then, almost 5% per year between 2001 and 2007. It must be said that this coincided with a boom in commodity prices, so everything was fine . But as of 2012, the South African economy has made very little progress, with a significant decline in growth », he explains.
The IMF now forecasts growth of 0.9% in 2024 for the country.
Verdict: BNSF Railway Found Liable For Fatalities In…
Montana Town Holds BNSF Railway Accountable for Asbestos-Related Deaths
A recent federal jury ruling in Montana found BNSF Railway responsible for the deaths of two individuals due to asbestos exposure from tainted mining material that passed through a town in Montana. The jury awarded $4 million each in compensatory damages to the estates of the deceased plaintiffs, who succumbed to illnesses linked to asbestos exposure.
Background of the Case
The contaminated vermiculite from Libby, Montana, known for its high concentrations of asbestos, was utilized in insulation and various commercial applications across the United States. The material, mined from a mountaintop near the town, was transported via rail cars, leading to spills in the Libby rail yard. Residents reported witnessing piles of vermiculite in the yard and dust from the facility spreading through downtown Libby.
Legal Proceedings and Accountability
While the jury did not attribute intentional or indifferent behavior to BNSF, no punitive damages were awarded. The estates of the victims argued that the railroad was aware of the dangers posed by the asbestos-laden vermiculite but failed to address the issue. Both victims lived in close proximity to the rail yard and later died from mesothelioma, a form of lung cancer associated with asbestos exposure.
Force Majeure Notice To Pakistan By Chinese Company…
Almost two weeks after the terrorist attack on Chinese engineers in Shangla, the Chinese company working on the Dasu Hydropower Project has issued a ‘force majeure’ notice to Pakistan.
This notice is a big blow for Pakistan.
A force majeure notice is usually issued after a natural disaster and means that an event has occurred that was beyond the control of the contracting parties and has resulted in the work not being completed or not being completed on time. The party concerned cannot be held responsible.
On March 26, a suicide bomber rammed a convoy of Chinese engineers traveling from Islamabad to Dasu, killing five Chinese engineers and their Pakistani driver.
The Chinese Foreign Ministry demanded a comprehensive investigation from Pakistan and punishment of those responsible for the attack, besides ensuring the security of Chinese citizens.
The Chinese company is laying a 765 kV transmission line. Sources say the project is already behind the World Bank deadline and the new notice may increase its cost.
Following the Chinese company’s notice, Daso’s chief engineer has sought guidance from NTDC’s chief law officer.
He said that the Chinese company says that the work has been affected after the attack,
Managem Successfully Closes Its Capital Increase
As part of this operation, 1,873,368 shares were allocated, for a total amount of 2,997,388,800 dirhams, which is equivalent to a subscription price of 1,600 dirhams per share, Managem indicates in a press release. Furthermore, the subscription rate for the capital increase reached 112.4%, which represents a total amount of subscriptions received of around 3,369,464,000 dirhams, or a number of 2,105,915 subscribed shares received. at the price of 1,600 dirhams. The total number of subscribers is 399.
The shares subject to this capital increase have been listed since April 17, 2024 on the main market under the ticker MNG. The Board of Directors of Managem would like to thank all the shareholders who, by largely subscribing to this operation, have shown their confidence in the company, concludes the press release.
FEEI: KV Degree In The Electrical And Electronics…
Vienna (OTS) – After tough and intensive negotiations, employer and employee representatives were able to agree on a solution. Actual wages and salaries will increase by 6.8% as of May 1, 2024. This corresponds to the rolling inflation underlying the negotiations and thus offsets the inflation. KV wages and salaries increase by 7.5%. Apprentices receive an increase of 7.5%. The negotiation results affect over 60,000 employees.
Companies in a tense economic situation have the opportunity to take advantage of the existing service volume regulations.
“This result represents a challenge for the electrical and electronics industry in a global environment,” says FEEI chairman Wolfgang Hesoun. “This agreement made it possible to prevent strikes that were already in the offing, which would have placed an additional burden on companies that were already facing very tough international competition.”
In addition, in order to reduce the shortage of skilled workers, it was agreed to jointly launch a qualification offensive. The collective agreement was concluded for one year.
Diets and allowances are increased by 7.5%. It was agreed to increase the allowance for the second shift from 0.56 to 1 euro per hour. The tax-free employee bonus can be implemented individually.
European Court Of Auditors Destroys Brussels Decision To…
#European #Court #Auditors #destroys #Brussels #decision #diesel #gasoline #cars
The objective of banning the sale of new cars with combustion engines – diesel and gasoline – by 2035 “risks clashing with the industrial policy and economic sovereignty of the European Union (EU), to which are added the issues of acceptance by the public and affordability”.
This is one of the warnings from the European Court of Auditors (ECA), which this Monday promoted a debate on the topic “The future of cars in Europe: the ECA’s point of view”, from its headquarters in Luxembourg.
Those responsible for that institution recall that, in recent years, they have examined various aspects related to this issue, including polluting emissions from cars, batteries manufactured in Europe, the provision of charging stations in EU countries and alternative energy sources, such as biofuels.
One of the TCE’s conclusions indicates that the electric car battery industry in the European Union is lagging behind its global competitors, and European internal capacity is at risk of “running out of current” before reaching maximum charge.
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The TCE report also states that less than 10% of global battery manufacturing is based in Europe,
Roberto De La Tore – The Best Of Roberto De La Tore.
The electoral committee of this process, which elected Roberto De la Tore Aguayo, was chaired by Eduardo Escardo de la Fuente and composed of Carlos Mujica Barreda, Juan Manuel Ostoja Carmelino, Guillermo Grellaud Guzman, Pedro Tomatis Chiappe and Cecilia Tarrillo Aguilar Zaferson of Pearls and Dolores Guevara Pasache of Lavalle.
The Lima Chamber of Commerce (CCL) elected Roberto De la Tore Aguayo as the new president of the institution for the period 2024-2025, replacing Rosa Bueno de Lercari, who served in the position in two successive periods, since April from 2022 until April of this year.
The president-elect, who will be sworn in next Thursday, April 18, has been vice president of the CCL during the periods 2008-2010 and 2018-2019; and currently chairs the Foreign Trade Guild (XCOM) of the Chamber.
De la Tore Aguayo has a bachelor’s degree in Industrial Engineering from the University of Lima, with postgraduate studies at the National Customs School – SUNAT with the title of Customs Agent, as well as in the ESAN Annual International Trade Program. In addition, he attended the Management Development program at the PAD of the School of Management of the University of Piura.
Reconstruction At Migros Migros President: We Have Interested…
Contents
Migros wants to sell several subsidiaries and cut 1,500 jobs: For the first time since the restructuring plans were announced, Migros President Ursula Nold comments on the current situation and announces a social plan.
At Migros, no stone is left unturned: This is the impression conveyed by the renovation plans that the retailer announced a good three months ago. Several businesses such as Hotelplan, Mibelle, SportX and Melectronics are to be sold, and other parts of the company are under scrutiny. The Migros Group itself, which has almost 100,000 employees, will lose up to 1,500 full-time positions – the largest reduction in the cooperative’s almost 100-year history.
To date, it is unclear exactly where jobs will be cut and which employees will be affected. There is great uncertainty among employees, say those affected. In “Eco Talk”, Ursula Nold, President of the Migros Cooperative Association, comments on the current situation.
We will do significantly more than is required by law.
Nold said she was aware that Migros, as one of the country’s largest employers, had a special responsibility. Affected employees would be supported in their job search within or outside the Migros Group.