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The majority of international visitors to Phuket since the beginning of 2022 came from India, but half of the hotels on the island remain closed as they wait for the high season to begin. Even if the number of arrivals doubled by the end of the year, Phuket’s tourist numbers are still falling well short of pre-Covid levels. Between May and June, there were around 52,000 Indian travellers in Phuket, followed by Singaporeans, just under 20,000 travellers during the same time. With direct flights from Thai Smile Airways, Go First Airlines and Indigo Airlines linking Phuket with major cities like New Delhi, Kolkata, Bangalore and Mumbai, the prospect for the Indian market next month still looks promising. The hospitality industry in Phuket is slowly, very slowly, gaining momentum since the beginning of 2022, with the Thai Hotels Association 40% of available hotel rooms booked in May. Most of the visitors are from India, Singapore, Australia and the United Kingdom, according to the … [Read more...] about Majority of international travel to Phuket is from India

G7 leaders gathering for lunch at the Schloss Elmau hotel in Elmau, Germany on Monday (June 27). The G7 leaders have also agreed to take a more coordinated approach to challenging China's 'market-distorting' practices in global trade. (Photo by Susan Walsh/Pool via Reuters) - A + A SCHLOSS ELMAU (June 28): The Group of Seven (G7) economic powers have agreed to explore imposing a ban on transporting Russian oil that has been sold above a certain price, they said on Tuesday. "We invite all like-minded countries to consider joining us in our actions," the G7 leaders said in the communique. The war in Ukraine and its dramatic economic fallout, in particular soaring food and energy inflation, has dominated this year's summit of the group of rich democracies at a castle resort in the Bavarian Alps. The G7 is looking at price caps as a way to prevent Moscow profiting from its invasion of Ukraine, which has sharply raised energy prices, taking the sting out of Western … [Read more...] about G7 agrees to explore cap on Russian oil price — communique

Issues ranging from differences in the nature and availability of data in India and an uncertain global and domestic economic outlook loom as hurdles in the Reserve Bank of India (RBI) adopting a Federal Reserve -style “dot plot,” economists say. The dot plot is a chart that records each Fed official’s projection for the US central bank’s key short-term interest rate. The dots reflect what each thinks will be the appropriate midpoint of the Fed Funds Rate at the end of each calendar year three years into the future should the economy behave as they expect. "The dot plot is a good policy guidance to the market on what lies ahead and hence helps in minimising volatility,” Upasna Bhardwaj, Chief Economist at Kotak Mahindra Bank, said. “However, in this highly uncertain environment when sources of inflation are mostly idiosyncratic and supply-led, a Fed-like guidance of three-to-four years does not seem feasible.” The debate on whether India should adopt a dot plot-like … [Read more...] about Can India adopt a Fed-style dot plot for interest rates? Not yet, say experts

The management of Tata Steel at its 115th Annual General Meeting on June 28, 2022. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Tata Steel Ltd will continue to reduce debt by around $ 1 billion a year but the company does not aim to reduce it to net debt zero levels given its expansion plans, Chairman N Chandrasekaran told shareholders at the company’s 115th Annual General Meeting on June 28. The company aims to spend Rs 10,000 crore-Rs 12,000 crore a year on capital expenditure going ahead, but may spend more if an acquisition opportunity arises, he said. The capex would be focused on India, and the company has no plans to spend more on adding capacity at its overseas plants. “The main thing is to have the right capital structure, and not blindly go for zero debt. Currently our debt to equity ratio and the debt to … [Read more...] about Tata Steel to reduce debt but not aiming zero net debt, future expansion will be India-centric: Chairman

- A + A KUALA LUMPUR (June 28): Poh Huat Resources Holdings Bhd's net profit for the second quarter ended April 30, 2022 (2QFY22) jumped 81.75% to RM23.08 million from RM12.7 million in the same period last year, mainly driven by higher furniture shipments from Malaysia. Quarterly revenue grew 12.57% to RM186.34 million from RM165.53 million, as production activities for both the group's operations in Malaysia and Vietnam continued to do well on the back of sustained orders from its customers in North America. "In particular, our Malaysia operations registered strong growth compared to the previous year's corresponding quarter as we ramped up production to clear order backlogs following the resumption of production after MCO 3.0 (Movement Control Order 3.0). Our Vietnam operations also registered higher shipment, albeit at a more modest level," Poh Huat said. As such, its earnings per share almost doubled to 8.71 sen from 4.79 sen previously, its bourse filing … [Read more...] about After 82% jump in 2Q profit, Poh Huat sees signs of demand slowdown in US amid soaring prices

For foreign dignitaries, Prime Minister Narendra Modi has often chosen gifts that showcase India's rich cultural and artistic traditions, and it was no different this time as he picked a variety of products for the heads of governments at the G7 Summit. It was distinct artistic products identified with different regions of Uttar Pradesh and other states which featured heavily in his choices, with the US president receiving Gulabi Meenakari, a GI-tagged artform of Varanasi, cufflink set and brooch and the German chancellor getting metal marodi-carving matka, considered a masterpiece from Moradabad, official sources said on Tuesday. Modi gifted black pottery pieces, which are from Nizamabad in Uttar Pradesh, to the Japan's prime minister and platinum-painted tea set with work done by hand to his British counterpart, they said. He gifted ittar (perfume derived from natural sources) bottles in zardozi box, crafted in Lucknow, to the French president and marble inlay, roots in … [Read more...] about Gulabi Meenakari, black pottery, ittar, Kashmiri carpet among PM Modi’s gifts for world leaders at G7 meet

Ruturaj Gaikwad was seen pushing a groundsman away while gesturing him to give him some space. (Screengrab from video) While the fifth T20 international between India and South Africa was called off after 3.3 overs due to rain on Sunday in Bengaluru, more than the action on the field, an incident off it grabbed the spotlight. A video clip recorded during the rain break showed Ruturaj Gaikwad sitting in the dugout with two groundsmen when one of them, sitting very close to the cricketer, tried to take a selfie with him. Gaikwad was then seen pushing the man away while gesturing him to give him some space before looking away. The clip went viral on social media with people calling the cricketer's behaviour towards the groundsman disrespectful. Very bad and disrespectful gesture by Ruturaj Gaikwad. Sad to see these groundsmen getting treated like this #RuturajGaikwad pic.twitter.com/jIXWvUdqIX — Arnav (@imarnav_904) June 19, 2022 "Ban him. Groundsmen are … [Read more...] about Ruturaj Gaikwad faces flak for pushing groundsman trying to click selfie | Watch

By ZEKE MILLER and GEIR MOULSON ELMAU, Germany (AP) — Leaders of the world’s biggest developed economies said Tuesday they would explore far-reaching steps to cap Russia’s income from oil sales that are financing its invasion of Ukraine and struck a united stance to support Kyiv for “as long as it takes” as the war grinds on. The final statement from the Group of Seven summit in Germany underlined their intent to impose “severe and immediate economic costs” on Russia. It left out key details on how fossil fuel price caps would work in practice, setting up more discussion in the weeks ahead to “explore … the feasibility” of measures to bar imports of Russian oil above a certain level. That would hit a key Russian source of income and, in theory, help relieve the energy price spikes and inflation afflicting the global economy as a result of the war. “We remain steadfast in our commitment to our unprecedented coordination on sanctions for as long as necessary, acting in … [Read more...] about G-7 leaders united behind Ukraine, aim at Kremlin oil money

BCCI President Sourav Ganguly (Image: Reuters) In cricket, the importance of timing is well documented. And even if most of the current Board of Control for Cricket in India (BCCI) officials haven’t played any first-class match, they are luckily being led by Sourav Ganguly, the president, who, during his playing days, was known for his impeccable timing while batting. The timing of the BCCI email, just after the staggering windfall from the IPL e-auction got over, regarding the increase in monthly pensions of former cricketers and umpires is a classic example. However, this decision is only the first run of a ‘big welfare innings from the BCCI’. Doubtless, there is no sports federation which comes even remotely closer to the BCCI in terms of professionalism and self-sustainable and enviable economic model. Yet, there is still so much to be done by the BCCI itself. With great power and bigger money pool, perhaps, it is not inappropriate to expect a bigger responsibility … [Read more...] about After the IPL windfall at least, will BCCI give a bow to the billion cricket fans?

Share to Twitter Share to Linkedin Food prices are soaring as inflation, product instability, and supply chain delays are causing all sorts of havoc within the food industry. As a result, consumer packaged goods manufacturers and food & beverage companies have to rethink their strategies and offerings and even question how consumers consume as they try to navigate this uncertain time. The consumer packaged goods and food & beverage industries may have taken the hardest hits in recent years, reeling from constant disruptions. The lingering effects of a global pandemic were only the start. Continuing shortages of raw materials from Ukraine and Russia, production and processing delays, and fast-rising oil and gas prices have directly impacted food-related manufacturing, transportation of goods, and agricultural supply chains. Today, the business of producing and distributing food and beverage products is fraught with economic unease and supply chain … [Read more...] about When It Comes To CPG And Food & Beverage Companies – Investing In Purpose-Built Supply Chain Intelligence Matters