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The bumpy recovery road of Southeast Asia's tourism industry

 The bumpy recovery road of Southeast Asia's tourism industry Hotel and restaurant owners in the area are fed up with the lack of Chinese visitors, the frequently changing entry rules and the shortage of workers. Previously, the famous tourist island of Koh Samui of Thailand had a lot of foreign tourists. But this year, it's "like a graveyard," as Virach Pongchababnapa, a local hotelier, describes it. Tourists have disappeared. Hotels and restaurants are closed. "No life, no movement," sighed Mr. Virach. 2022 is said to be the year that Southeast Asia's tourism industry begins to recover. However, the Omicron variant delayed this process. Late last year, several countries began accepting tourists for the first time in nearly two years, but closed when Omicron appeared. This month, the borders begin to open up again. Visitors who have completed all the injections will not need to be isolated when entering Thailand from February 1 and the Philippines from ...
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Gold price may move sideways this week

 Gold price may move sideways this week Analysts hesitated in their near-term gold forecasts, while retail investors remained optimistic as the precious metal held near two-week highs. The results of Kitco News' weekly gold price survey show a sharp divergence in sentiment on Wall Street. Some analysts do not believe that gold remains an attractive asset, but retail investors still put their faith in the precious metal due to inflation concerns. On February 11, the University of Michigan (USA) said that consumer sentiment has dropped to a 10-year low. The report notes that consumers expect inflation to remain at 5% for 2022 and this becomes a major drag on their sentiment. This week, of the 15 Wall Street analysts who participated in the gold price survey, only 40% forecast gold prices to rise next week. Four analysts (27% respectively) forecast a decline in gold prices, while five (33%) hold a neutral view on gold. Meanwhile, out of nearly 600 retail investors surveyed, 62% expect...
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How does the price of oil approaching 100 USD affect the world?

 How does the price of oil approaching 100 USD affect the world? Rising oil prices inflate the budgets of producing countries, but increase costs for businesses and people, dragging down global growth. The recent Russia-Ukraine tension dragged WTI and Brent crude oil prices to $94 and $95 a barrel. This is the first time since 2014 that the world crude oil price has moved closer to $100 a barrel, threatening growth prospects and raising global inflation. This combination is worrisome for the US Federal Reserve and other central banks, as they must contain their strongest inflationary pressures in decades without dragging on the recovery in recent months. epidemic. A group of 20 financial officials from the world's top economies will meet this week, with the biggest concern being inflation. While fuel exporting countries could benefit from this price increase, the rest of the world will be hit hard. Costs to businesses and consumers will rise. Food, transportation and heating prices...
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Gold price in the world reached the highest level in 3 months

 Gold price in the world reached the highest level in 3 months Fear of Russia-Ukraine conflict raised the demand to buy gold for shelter yesterday. Closing the session on February 14, each ounce of world gold for immediate delivery increased by 12.3 USD to 1,871 USD. During the session, the gold price at one point climbed to $1,874, the highest since mid-November. "We see buying in shelter at the moment, as stocks sell off. Lots of big economic data this week will also be released. Focus will be on inflation," Bob Haberkorn – said senior market strategist at RJO Futures. Tensions between Russia and Ukraine have continuously pulled gold prices up. Gold price in the world reached the highest level in 3 months The main indexes on the US stock market continued to fall yesterday on worries around interest rate hikes and the US warning that Russia could attack Ukraine at any time. The DJIA yesterday lost 0.49%. The S&P 500 fell 0.38%. "We believe that any escalation will c...
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Low-income Americans 'turn on survival mode' because of inflation

 Low-income Americans 'turn on survival mode' because of inflation Jacqueline Rodriguez no longer buys fresh fruit at the supermarket, and Jorge Nuñez sells his car to walk to work, and eats more vegetables instead of meat. After 15 years, Jacqueline Rodriguez has almost saved up enough money to buy a house upfront. Then the pandemic hit. She was fired, and had to use her savings to pay for everything that was becoming increasingly expensive, including the textbooks for her 18-year-old son. If Rodriguez could buy a house and only pay monthly installments, she would avoid the highest inflation of her life. But now, the landlord has raised her monthly rent from $1,200 to $1,500. After draining all her savings, Rodriguez even had to collect $50 to fuel her car and drive to Miami International Airport, where she was paid $13.8 an hour as a cashier at Wendy's. Jacqueline Rodriguez outside her rented Miami home. Photo: Washington Post Jacqueline Rodriguez outside her rented Miami...
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Elon Musk donates nearly $6 billion in Tesla shares

 Elon Musk donates nearly $6 billion in Tesla shares The world's richest man said he gave away more than 5 million Tesla shares in November last year. According to documents filed with the US Securities and Exchange Commission (SEC), Tesla CEO Elon Musk donated more than 5 million Tesla shares between November 19 and November 29. The shares are worth $5.7 billion, based on the average price for that period. This is one of the largest charitable donations in history. The name of the charity receiving the number was not disclosed. Tesla CEO Elon Musk. Photo: Bloomberg Tesla CEO Elon Musk. Photo: Bloomberg The donation comes amid Musk's war of words with American politicians over income inequality and wealth taxes. At that time, Musk announced that he would sell shares if the United Nations could prove it could solve global hunger after David Beasley - director of the World Food Program (WFP) under the United Nations. suggests billionaires like Musk can "donate now and just o...
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China's 'value for money' Olympic Games

 China's 'value for money' Olympic Games Despite the absence of international visitors, the Olympic Games are still considered a worthy investment by China to develop infrastructure and stimulate consumption. Hosting the Winter Olympics is costing China billions of dollars. The large scale of spending makes this event less attractive to many cities around the world in recent years. A growing number of countries consider spending a fortune to host the Olympics is not worth it, when the tourism benefits are less than expected. However, China has a different calculation. Beijing has long relied on massive investments in the construction of railways, highways and other infrastructure to create millions of jobs and reduce transportation costs. With the 2022 Olympics, they also hope the event will foster a love for skiing, billiards, ice hockey and other winter sports, thereby stimulating people's spending, especially in the cold and economically difficult northeast. Zhangjia...
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