- Business News
AI’s impact on jobs raises concerns, experts urge preparedness
Concerns are rising across various sectors about the potential displacement of jobs due to the increasing adoption of artificial intelligence (AI), with experts advising organisations and individuals to prepare for the inevitable impact. A recent blog post by Kristalina Georgieva, chief of the International Monetary Fund (IMF), suggested that AI would affect nearly 40% of global jobs, replacing some and…
- Business News
Thai government aims to boost cross-border trade despite 2023 contraction
The Thai government is aiming to reinvigorate its cross-border trade, including transit trade, this year following a 2.6% contraction in 2023, which saw the value fall to 1.7 trillion baht (US$48 billion). The Foreign Trade Department’s director-general, Ronnarong Phoolpipat, stated that the Commerce Ministry would expedite cross-border and transit trade according to the government’s investment promotion strategy for 2024-27. To…
- Transport News
Automakers’ ties to forced labour in China under scrutiny, says HRW report
Five prominent automakers, including Toyota, General Motors, Volkswagen, Tesla, and China’s BYD, have questionable ties to forced labour in China’s Xinjiang region, as identified by a report by Human Rights Watch (HRW). Xinjiang, an important aluminium producer contributing to approximately 9% of the global supply, has been linked to state-sponsored labour transfer programs accused of coercing Muslim minorities into forced…
- Business News
China surpasses Japan as world’s largest car exporter in 2023
China has seized the title of the world’s largest car exporter in 2023, according to recent industry figures. This marks a significant shift, seeing Japan’s reign topple for the first time since Germany’s lead in 2016. This new data, released yesterday, January 31, by a Japanese trade organisation, indicates a 16% increase in Japan’s car exports from the previous year,…
- Business News
Thailand’s steel industry suffers as cheap imports from China flood market
Steel industry capacity utilisation in Thailand is on a downward spiral, with Tata Steel Thailand Plc (TSTH), a subsidiary of India’s largest steelmaker, attributing this trend to the sluggish economic recovery and the influx of inexpensive steel from China. The postponement of the fiscal 2024 state budget planning as a consequence of the 2023 general elections and the protracted process…
- Business News
Thailand’s manufacturing sector set to rebound by 2024 despite 2023 contraction
Despite the economic slowdown causing a 5.1% contraction in Thailand’s Manufacturing Production Index (MPI) last year, it is expected to rebound in 2024. The forecasted improvement comes in response to an increase in the export of industrial products, which grew by 3.22% in December, marking the third consecutive month of growth, according to Warawan Chitaroon, the director-general of the Office…
