Business

Bars and Nightlife Venues to Finally Reopen in Thailand

There are some agencies that insist on reopening entertainment venues to liven up the Bangkok nightlife as long as they get subjected to very strict safety measures.

The recent pandemic has halted the very active bars and nightlife of Thailand. Since international travel is banned in most countries and there are numerous restrictions in terms of movements and socialization. It has also gravely affected the busiest districts including the capital city of Bangkok.

One of the industries hit hard is the bars and other nightlife establishments because they heavily rely on human interaction and contact. Since nonessential activities are heavily monitored and establishments made to shut down, they do not have any much choice but to comply and make the party stop indefinitely.

With the possibility of the entertainment venues to be allowed to open again, most of the business owners and night workers are bracing themselves in anticipation of the changes that the pandemic has brought. Still, many are excited to get back out there and experience the shine of Thailand and its glam night once again.

Bars and Nightlife Movement Restrictions

The government of Thailand is slowly lifting some movement restrictions it has initially imposed at the early onsets of Covid-19. This is after infections rose to over 3,000 and almost 60 deaths, the government was able to slow the transmission of the virus so it has never seen a spike in reported cases.

The economy is slowly opening again with some of the most essential industries and businesses allowed to open but still need to follow protocols and restrictions. Tourism is seen to resume as they open their doors for people who would like to visit the country again. Although this is good news, the health ministry deems the nightlife industry to be among the last ones to open given the nature of its operations.

And even if both regular customers and workers are looking forward to this, they cannot do much given the situation that the whole world is facing. Most are saying that they are doing their best to practice and better their performances in preparation for their much-awaited comeback. Some are even accepting bookings for the future because of the still-growing tourist demand to visit the country.

Hygiene and Health Practices

The reality of the virus far from over is still at the back of people’s minds. A lot of business establishments are preparing for reopening by creating a better-equipped environment that will not compromise the health of their customers. Most areas are guaranteed to be cleaned and disinfected and more people are seen to carry their own hygiene kits which include their sets of sanitizers, alcohol, wipes, face mask, and so many others.

Many workers and entertainers alike are tasked to make a way on how they can do their job safely as well as protect themselves from the virus itself. Health restrictions are going to be imposed and people who are working in the nightlife industry are supposed to work around these rules.

The concern of most people is their own safety that they are seen to become more conservative in their activities even when normal operations will resume. It might be a slow start for the different bars and establishments, but it will surely improve as the new cases drop and medicine and vaccines will be created.

Changes in the Bangkok Nightlife Scene

A lot of places, including Pattaya and Phuket, have aired their grievances on how much the recent events have shuttered their once-thriving nightlife. A lot of people became unemployed and laid off. There has been a growing protest in reopening the business establishments because the new cases have been low in the past weeks.

Most experts are saying that problems may arise when parties become underground, attracting people who are craving to go back to their normal social activities. There are some agencies that insist on reopening entertainment venues to liven up the Bangkok nightlife as long as they get subjected to very strict safety measures.

This can be done by a constant meeting of the different agencies in order to assess the situation and address concerns as they happen. One of these is the mandatory wearing of safety facial masks and the checking of body temperatures for each customer. Additionally, face shields and gloves are required for all staff and workers. There will also be an imposed limit on how many customers can be admitted to each venue.

Changes in the Tourism Industry

The bars and nightlife of Thailand thrive on the consistent arrival of tourists from all over the world. And though the government is seen to ease its restrictions and allow for the resumption of their operations soon, the former crowded areas might not be as it was. This is due to the restrictions of other countries that prohibit the travel of their citizens to other countries for pleasure or vacation. They are more likely to rely on local tourism for now until more palpable solutions can be made. Tourism is expected to boom again once the cure is found and people are not afraid to interact and party anymore.

The Fight for Survival

Most of the business in the busiest night scenes around Thailand has been protesting about when they can reopen for the sake of their displaced workers and threats of bankruptcy to their business. The three months lockdown has forced a lot of people to strive for their survival and a lot of them are eager to come back to work for a chance to earn an income to support themselves and their families.

The reopening is seen to help with the economy and not really because things have become better. The Thai government is still firm in its decision not to risk a second wave even when the call for reopening is loud and very much needed.

There is still a lot of clamor for the reopening of the busy streets of Thailand, especially the areas with the lively nightlife. And though it is seen to be one of the sectors to reopen last, this industry is still very promising given how much demand it has on normal days. For now, your parties can wait and this is for the safety of you and the people who are working in the industry.

Business

PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

Business

Old National Bank And Infosys Broaden Their Strategic Partnership.

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL

Business

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

The largest regulated water and wastewater utility company in the United States stated Monday that it had been the target of a cyberattack, forcing the company to halt invoicing to consumers.

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

American Water, based in New Jersey and serving over 14 million people in 14 states and 18 military facilities, said it learned of the unauthorized activity on Thursday and quickly took precautions, including shutting down certain systems. The business does not believe the attack had an impact on its facilities or operations and said employees were working “around the clock” to determine the origin and scale of the attack.

water

The corporation stated that it has alerted legal enforcement and is cooperating with them. It also stated that consumers will not be charged late fees while its systems are unavailable.

According to their website, American Water operates over 500 water and wastewater systems in around 1,700 communities across California, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Missouri, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.

SOURCE | AP