Pattaya July 2020

INDONESIA CUTS
INTEREST RATES FOR
THE THIRD TIME
THIS YEAR
Indonesia's central bank made
its third interest rate cut this year
in order to spur economic growth.
The country’s economy, which
has been hard hit by Covid-19,
was seen as needing further support.
The 0.25 per cent interest rate
cut took the benchmark rate down
to 4.25 per cent, its lowest level
for two years. The two previous
rate cuts this year were also 0.25
per cent each.
Eleven out of 30 analysts who
took part in a Reuter’s poll expected
no change, whilst eighteen
expected the cut to go ahead.
One analysis expected a larger
cut than 0.25 basis points.
In 2019 there were no less
than four other interest rate cuts
each of 0.25 per cent that saw the
benchmark rate fall by 100 basis
points during that year.
BUSINESS SUPPLEMENT
AROUND THE ASIAN REGION
LEADING CHINESE
E-COMMERCE COMPANY
JD.COM SEES
SUCCESSFUL IPO IN
HONG KONG
JD.com, China’s second
largest e-commerce company
saw its shares surge by six per
cent on the first day of its listing.
The IPO took place on the
Hong Kong stock exchange at a
time when Chinese companies
are facing difficulties listing in
the U.S. This follows the crash
of Luckin Coffee’s share price in
the U.S. due to an accounting
scandal.
Interestingly, JD.com is already
listed on the Nasdaq in
the United States and has been
since 2014. Yet the decision to
raise nearly US$4 billion
on the Hong Kong market will
have been welcomed by the
Hong Kong stock exchange.
JD's Retail Chief Executive
Officer Xu Lei, was quoted as
saying, “We have come to Hong
Kong not just because we want
to share our promise and development
with more clients... but
because we have absolute confidence
in China and the future
of China's economy,” adding,
“If JD wants to become a truly
global business, it needs more
international capital and not restrict
itself to a single country or
region.”
It is expected that other Chinese
companies will look to
Hong Kong for their listings and
not be too fazed about an inability
to list in the U.S.
TAIWAN AND OTHER
COUNTRIES IN ASIA
READY TO RECEIVE THAI
WORKERS
With both Taiwan and Thailand
both having seen Covid-19
virtually eliminated, The Labor
Ministry has approved a plan for
thousands of Thai workers to go
to Taiwan.
Minister, Chatu Mongol Sonakul,
was quoted as saying, "The
ministry made a decision based
on the health of workers. Taiwan
has not had Covid-19 cases for
a long while and it has respected
preventive measures.”
Ambassadors of other countries
have also approached
Thailand to seek approval for
Thai workers to go to their nations.
Chatu Mongol Sonakul, was
also quoted as saying, "These
countries see Thai laborers
as hard-working, honest and
strong. The government will
make a decision taking into account
the workers' health and
safety.”
The Department of Employment
expects to send up to
50,000 workers to countries
such as Japan, Israel, Singapore,
South Korea, Malaysia
and Taiwan over the next three
months.
: joykobeautysalon
Hair Design
JOYKO
Beauty Nail’s Salon
VC. Hotel Pattaya
Please contact
JOYKO BEAUTY SALON
to this number
Tel. (038) 713 192
JOYKO
BEAUTY SALON
Bangkok Bank
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at the VC car park
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