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Debifi Secures Funding in Successful Seed RoundToday, Dec. 6, is the anniversary of the Polytechnique massacre and the National Day of Remembrance and Action on Violence Against Women. Port Moody–Coquitlam NDP MP Bonita Zarrillo delivered a blunt speech on the topic in the House of Commons. "It has been 35 years since Barbara Kuchnik-Vijadavich, Annie Turcotte, Annie St-Arneault, Michèle Richard, Sonia Pelletier, Anne-Marie Lemay, Maryse Leclair, Maryse Laganière, Maud Haviernick, Anne-Marie Edward, Barbara Dayneault, Nathalie Croteau, Hélène Colgan and Geneviève Bergeron were murdered for being a woman. New Democrats will always remember the women of Polytechnique Montreal as they lost their lives to patriarchy and white privilege. This deadly combination continues, with the upholding of male supremacy across the globe. It is called misogyny: an ingrained prejudice and contempt for women. It is misogyny that has kept women excluded from the hallways of power. It is what has limited their job opportunities, income, ability to move freely in community, be safe from violence or to even have the healthcare they need. And, for Indigenous women in Canada, the impacts are even more deadly. Indigenous women are killed at seven times the rate of non-Indigenous women in Canada. This is a recognized genocide that has become so normalized in this country that when an Indigenous woman, girl or two-spirit individual goes missing or is killed, it barely makes the news. That reality is happening right now in Winnipeg where murdered Indigenous women have been abandoned in a landfill. And it was not a given that the hallways of power would offer dignity to these women and search for them wherever they were. No, it took the pressure of sisters to get it done and I take a moment here to recognize the power of the NDP member from Winnipeg Centre, who fought alongside Indigenous women and their families and created a red-dress alert system to find and protect Indigenous women, girls and two-spirit people. This is what action on violence against women looks like. It is shameful that women and diverse-gender people in this country need to stand on guard because, in 35 years, misogyny has not dissipated; in fact, it has increased. With the reach of online gaming and social media, misogyny now has a new name: manospheres. These are clubs, podcasts, books and influencers who use these platforms to radicalize young males through a combination of algorithmic design, social dynamics and exposure to extremist ideologies. Remember these words: Algorithmic Amplification, Gamification of Hate, Normalization of Misogyny, Recruitment of Vulnerability men, and lack of Counter-Messaging. These are all enemies of human rights and are the new wave of violence against women and diverse genders. Right now, the Winnipeg Human Rights Museum draws the country’s attention to the fact, and I quote from their website, "that a growing number of men spread hateful ideas about women, trans and non-binary people online. Some internet communities even encourage and celebrate gender-based violence. Researchers have called for a variety of regulatory and technical improvements to reduce the reach and harmfulness of radical, hateful internet content. Simply banning users who engage in hate speech — deplatforming them — has been shown to reduce their reach. Legislatures must take action on this immediately as the internet giants will not because they are financially benefiting from hate. So, this is where Canada is at 35 years after 14 aspiring engineers were killed for being women, and bravely stepping into the manosphere. Today, and every day, New Democrats honour the women who lost their lives at École Polytechnique, and to every victim of gender-based violence. And we call on the government and the Opposition to stop fuelling hate, take immediately action to end the amplification of misogyny and end decades of government’s systemic failures to protect the fundamental human rights of women and gender-diverse people in this country." 📣 Got an opinion on this story or any others in the Tri-Cities? Send us a letter or email your thoughts or story tips to [email protected] . 📲 Want to stay updated on Coquitlam, Port Coquitlam, Port Moody, Anmore and Belcarra news? Sign up for our free daily newsletter . 💬 Words missing in an article? Your adblocker might be preventing hyperlinked text from appearing.TPG Eyes Acquisition of Altus Power Amid Clean Energy BoomAmerican consumers are feeling less confident about the economy just weeks before 's return to office, according to new data. measuring US consumers' sentiments dropped 8.1 points to 104.7 in December, coming in under consensus expectations for an increase, the nonprofit think tank said on Monday. The index seeks to capture consumers' assessments of the current business and labor market and their views on where things could be headed in the coming months. The latter weighed heavily on this month's decline, with the so-called expectations index—which measures consumers' short-term outlook on income, business, and the labor market—falling 12.6 points to a five-month low of 81.1, the organization said. That's close to a threshold of 80 that typically signals a , the Conference Board said in a press release. The data marks a steep turnaround after two months of growing consumer optimism. "While weaker consumer assessments of the present situation and expectations contributed to the decline, the expectations component saw the sharpest drop," The Conference Board's chief economist Dana M. Peterson said in a press release, adding, "Compared to last month, consumers in December were substantially less optimistic about future business conditions and incomes." The survey's write-in responses suggest that concerns about "politics," including the results of the November elections, and could be fueling consumers' concerns, the press release said. A special question on this month's survey saw 46% of consumers saying they expect tariffs to raise the cost of living, consistent with a University of Michigan poll that found more consumers are looking to make big purchases to avoid in the future, in part due to tariffs' upward pressure on . The potential for tariffs to boost US jobs, one of Trump's main selling points, doesn't appear to be helping consumers feel more optimistic. Just 21% said they expect tariffs to create more US jobs, The Conference Board said. "Pessimism about future employment prospects returned after cautious optimism prevailed in October and November," Peterson said. Trump has floated 25% tariffs on imports from Canada, China, and Mexico, and recently threatened 100% tariffs on the group of emerging market countries. 's stock, often seen as a bellwether for consumer health, tumbled after the survey's release, down 3% as of Monday midday. As a cheap retailer popular among low-income consumers, Walmart is typically a defensive play, seeing an influx of investors when the economy is in bad shape. It's had a blockbuster year despite relatively high sentiment, though, surging 70% year-to-date to outperform the S&P Global Luxury Index. Strategist Jim Paulsen has warned that this seeming contradictory stock play could be a sign of a bubbling recession. "It's odd when so many signals currently indicate stock market optimism, that investors are favoring the quintessential 'defensive' retailer (which relatively would do best if a recession was imminent) over the most aggressive luxury stocks," Paulsen wrote on Substack earlier this month. Read the original article onebet sport betting 。

SWI swissinfo.ch: What’s your overall view on Sunday’s vote results? Martina Mousson: I was impressed by the battle around the two changes to Swiss tenancy law, which remained very close for a very long time. Results which are so tight suggest a strong polarisation in society; we can see that in three of the four proposals that were decided this Sunday. SWI: Close results risk leading to more contentious debate and interpretation after the vote... M.M.: Yes, that’s exactly what’s likely to happen with the motorway expansion plan, because the funds earmarked for road traffic have already been decided. The question is already being asked: what should be done with the billions of francs [which were budgeted]? The controversy has begun and will continue. SWI: Why did the motorway expansion project, which was ahead in the polls, fail to win out? Is it impossible for car drivers to win over Swiss voters? M.M.: I wouldn’t say that. Most Swiss people own a car, and the majority of the inhabitants also commute by public transport. Then there’s the fact that the money is there. It’s committed to a fund. So it has to be used, but perhaps not in the way that this project proposed. For voters, a more sustainable transport policy seems to be more important. SWI: Were the planned motorway expansion projects not sufficiently distributed across the country? M.M.: The project was the result of parliamentary debate. It deliberately included a project in French-speaking Switzerland. The weakness lay more in the fact that, in the eyes of voters, the proposed solution did not solve the overall problem, but merely shifted it to the next hotspot. SWI: Transport Minister Albert Rösti defended the project. Up until now, he was always successful with federal votes. How difficult will this defeat be for him? M.M.: It shouldn’t be underestimated. It occurred in an area [transport] where he has been heavily involved in the past. He’ll have to critically evaluate this result. SWI: The government has now lost three important votes this year – on motorways, the 13th old age pension payment and reform of the occupational pension scheme. Is there a lack of public trust? M.M.: In our polls, we have seen that the government is losing trust among the population. For the first time, we even have a relative majority who say they don’t trust the government. But the question is what happened first? Did the defeats on important issues lead to this loss of confidence? Or did the loss of confidence lead to the defeats? In any case, it’s a vicious circle. The government is perceived as weak because it loses, which in turn weakens it. SWI: Environmental issues have been in trouble recently and the Greens lost a lot of ground in elections. Is the no vote on motorway widening also a victory for the Greens? M.M.: Yes, it’s a result that runs counter to the anti-green spirit that prevails beyond Switzerland’s borders. It’s fair to say that after the shift to the right in the 2023 elections, the pendulum is swinging back in the opposite direction when it comes to referendums. The left and trade unions have also shown their strength in winning referendums this year. SWI: Their victories on the two tenancy law issues were close, but the left-wing domination on the campaign trail continues. How do they do it? M.M.: They’re clearly not taking the traditional route. If you look at their adverts in print media, you can see they had little presence there. They explored other avenues and are particularly active on social networks. They are also adopting a new tone. Some people talk about left-wing populism, as opposed to right-wing populism. SWI: Opponents criticised the two tenancy law referendums as a single issue. But the electorate clearly had a more nuanced view on them. What happened exactly? M.M.: The opponents’ tactic of referring to the two bills as a single “attack on tenant protection” was successful. The difference lies in the individual interests of voters. The issue of subletting also targeted commercial subletting, which was seen as a problem and a factor in price rises, particularly in cities. This issue was thus probably a little closer to the world of tenants than the one on landlords’ own needs. SWI: The healthcare financing project was seen as a small step towards a larger reform of the healthcare sector. It seems to have worked. Is this a recipe for reform in Switzerland? The smaller the steps, the more likely success? M.M.: I’d rather say that the broader the alliance behind a project, the more likely it is that reform is possible. What’s true is that there haven’t been any big successes in Switzerland recently. SWI: The complexity of the health project did not mean its rejection, as is often the case with complex projects. What worked? M.M.: The most frequently used argument, on both sides, was that of rising health insurance premiums. SWI: The city of Zurich voted in favour of gender-neutral language use by the authorities. This is believed to be the first vote in the world on this subject. Is this typically Swiss? M.M.: Yes, it’s typically Swiss. Generally speaking, the fact that opponents lose at the ballot box helps to anchor changes in society. We saw this clearly during the Covid-19 referendum. The more people voted on this issue, the less wind the opponents had in their sails. After a while, you can no longer say that what you’re opposing is simply an order coming from on high. SWI: In Basel, conservative circles forced a referendum to try to stop the 2025 Eurovision Song Contest being organised. But their proposal was rejected by 66.6% of voters. Such ballots can provide an opportunity to debate controversial issues. But in this case, calm reigned, why? M.M.: The opposition was limited to a small circle. Nevertheless, it was important that the discussion took place. That’s the integrating effect of direct democracy. In critical circles, the mood won’t much change, but they’ll see that they don’t have wider support. Edited by Mark Livingston/adapted from German by Simon Bradley

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Christopher Nolan's Next Film Is Officially The Odyssey, a 'Mythic Action Epic Shot Across the World'

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AP Business SummaryBrief at 2:31 p.m. ESTJapan has initiated an ambitious project wherein it plans to use AI techniques to keep an eye on sites that offer pirated versions of anime and manga, reported. With the rising popularity of manga, there has also been a spurt in piracy of manga and anime content that is believed to cost the industry billions of dollars every year. As some publishers have claimed, there are about a thousand websites currently in operation that are engaged in manga piracy. They allow users to download manga, usually, the ones that are most in demand globally, completely free of cost. Needless to say, this deprives the original content creators of their rightful share of the revenue that they deserve for their creativity. The publishers also stated the majority of such websites, or 70 percent to be precise, that are in the business of offering pirated manga and anime content operate in foreign languages such as English, Chinese, and Vietnamese. With manga popularity ever on the rise, there are always those who would like to snag the latest copy of popular manga titles for free. However, keeping a tab on the websites manually is a huge endeavor, one that takes a lot of time and effort to make it feasible. This is where AI comes into the picture. The Cultural Affairs Agency in Japan has earmarked a budget of ¥300 million or $2 million in a project that aims to detect illegal content using image and text detection algorithms. All of this, Japan feels will help it achieve its target of exporting cultural assets such as manga and anime worth ¥20 trillion by 2033. This forms part of the “Cool Japan” strategy that the government had revealed earlier in June. Earlier in 2022, the segment’s exports had reached ¥4.7 trillion. With a keen interest in tech, I make it a point to keep myself updated on the latest developments in technology and gadgets. That includes smartphones or tablet devices but stretches to even AI and self-driven automobiles, the latter being my latest fad. Besides writing, I like watching videos, reading, listening to music, or experimenting with different recipes. The motion picture is another aspect that interests me a lot, and I'll likely make a film sometime in the future.After three straight losses, including back-to-back blowouts, the San Francisco 49ers needed a get-right game. The Chicago Bears helped provide just that. Brock Purdy carved up Chicago's defense to lead San Francisco to its best offensive output of the season and the defense dominated the Bears in a 38-13 win Sunday that looked a lot more like the team that went to the Super Bowl last season than the one that has struggled in 2024. "I think just the biggest thing was just getting some energy and momentum," Purdy said. "This league is hard. It's tough. If you don't have momentum or energy and belief within a building, it can be really tough." The problem for San Francisco (6-7) is it might be too late to salvage its playoff hopes. Three blown fourth-quarter leads to division rivals and the lopsided losses at Green Bay and Buffalo the previous two weeks leave the Niners two games out of the playoffs with only four games to go. They might need to win out to get back to the postseason for a fourth straight season, and even then they could need some help because their three division losses will make it tough to win any tiebreakers in the tightly packed NFC West. "If we win every single game, I think we've put ourselves in a very good position to either win the division or somehow sneak our way into playoff contention," tight end George Kittle said. "I thought everyone's focused on this one week. ... Forget the whole season whether you've played like crap the entire season, whether you've had missed opportunities, or whether you have a bunch of touchdowns. Whatever it is, flush all that and just focus on this one game." Big plays. The Niners repeatedly gashed the Bears for big plays as the passing game looked as good as it has all season. Purdy had eight completions go for at least 20 yards — tied for the most in any game for the 49ers since at least 1991 — with Kittle catching four of them, Isaac Guerendo two and one each for Deebo Samuel and Jauan Jennings. Kickoffs. Jake Moody attempted two line-drive kicks as San Francisco tried to pin Chicago deep instead of allowing a touchback. But both kicks landed shy of the landing zone at the 20, giving the Bears the ball at the 40. DL Yetur Gross-Matos. The Niners have been struggling to generate a pass rush with Nick Bosa sidelined, but Gross-Matos made a big impact on Sunday. He had a career-high three sacks in the game after coming into the game with just one this season. S Ji'Ayir Brown. The second-year safety lost his starting job with the return of Talanoa Hufanga from a wrist injury. Brown played 15 defensive snaps in a spot role and was beat on a TD pass to Rome Odunze in his limited action. Guerendo has a sprained foot and will be evaluated later this week to see if he can play. ... OL Ben Bartch will likely go on IR after suffering a high ankle sprain Sunday. ... LB Dre Greenlaw could return this week for the first time since tearing his Achilles tendon in the Super Bowl. ... DL Nick Bosa (hip, oblique) and LT Trent Williams (ankle) will be evaluated this week but there is no timeline on when they will return. ... LG Aaron Banks cleared the concussion protocol and should play this week. ... LB Dee Winters (ankle), S Malik Mustapha (chest, shoulder) and LB Demetrius Flannigan-Fowles are day-to-day. 305 — The 49ers outgained the Bears by 305 yards in the first half for the ninth best advantage in a first half since at least 1991. The 319 yards for San Francisco were the most by any team in a first half this season and the 4 yards allowed were the fewest. The 49ers host the Los Angeles Rams on Thursday night.

As 2024 approaches its close, many stories that created headlines this year remain unresolved, leaving concerns, hopes and doubts among both the government and business community. The Bangkok Post has selected five news stories that have generated heated debate this year and have had a significant impact on the financial, manufacturing, property, automotive and tourism sectors in the form of a year-end review. Whether it be the appointment of a new chairman of the Bank of Thailand board, the deluge of low cost imports from China, the reduction in headcounts among car manufacturers, changes to the country's land ownership laws, or targets for foreign tourist arrivals -- all these topics still require the close attention of the authorities and entrepreneurs. New BoT chair yet to be resolved The selection process for a new board chairman of the Bank of Thailand has been marked by delays and controversy. Scheduled meetings were postponed amid rising concerns over potential political interference after reports suggested the government intended to propose its own candidate to succeed Porametee Vimolsiri, whose term ends next October. Former commerce minister Kittiratt Na-Ranong is widely regarded as a leading contender for the position. Mr Kittiratt previously served as deputy leader and chief economic strategist for the Pheu Thai Party. He has been critical of the central bank’s interest rate policy and its regulatory independence. Mr Kittiratt was previously nominated as an advisor to former premier Srettha Thavisin. Several groups, including the Economics for Society Group — comprising 227 economists and four former Bank of Thailand governors (Pridiyathorn Devakula, Tarisa Watanagase, Prasarn Trairatvorakul, and Veerathai Santiprabhob) — in late October had expressed their opposition to Mr Kittiratt’s appointment. They argue that the board chairman of the central bank should remain independent of political influence. Protesters, including supporters of the late revered monk Luangta Maha Bua Yannasampanno, gathered in November outside the Bank of Thailand’s headquarters to submit letters opposing what they viewed as political interference in the central bank. The selection committee, chaired by Satit Limpongpan, had to postpone its meetings to choose the new chairman three times, starting on Oct 8. The process culminated in the final meeting on Nov 11, which ironically concluded without revealing the name of the selected candidate. Although the committee has not officially disclosed the name of the new chair, Mr Kittiratt remains highly likely to be appointed as expected. There were three candidates for the position. The Finance Ministry proposed Mr Kittiratt, while the central bank nominated Kulit Sombatsiri, a former energy permanent secretary, and Surapon Nitikraipot, president of the Thammasat University Council and an independent director of PTT Plc. Finance Minister Pichai Chunhavajira recently said he had already received the list of candidates from the selection committee and insisted they were still being reviewed by the Finance Ministry for compliance with the qualifications. The review process adheres strictly to the criteria outlined in the regulations and does not consider public opinion, which may be against the nomination, said Mr Pichai. According to the 2008 regulations governing the selection process for qualified individuals to serve as the chairman or board members of the Bank of Thailand, Section 16 outlines eight prohibitive qualifications. These include: being incapacitated or quasi-incapacitated; being bankrupt or having been declared bankrupt; having been sentenced to prison by a final court decision (except for negligence or minor offences); and holding or having held a political position, unless they have been out of office for at least a year. New measures reshape property landscape The government’s proposal to extend land leases to 99 years and increase the foreign ownership quota in condos from 49% to 75% has emerged as one of the hottest issues in the real estate sector in 2024. This ambitious move is expected to have profound implications for the property market, foreign investment and the overall economic landscape, including resistance from many Thai people who are concerned that Thai citizens may no longer be able to afford property. Currently, foreigners are allowed to own only up to 49% of a condo building, with the rest reserved for Thai nationals. The proposed increase in the foreign ownership limit to 75% would significantly open up opportunities for foreign buyers. This change aims to attract international investment, which could draw much-needed capital into the real estate sector, where local demand remains weak due to the challenging economic conditions and difficulties in securing home loans. The proposed 99-year land lease extension is another significant shift in policy. Under the current law, land in Thailand can be leased for a maximum period of 30 years, with the possible renewal for an additional term of 30 years. This limitation has long been a barrier for both Thai and foreign investors, especially those looking to build long-term investments, such as residential and commercial properties. By extending the lease period to 99 years, the government is aiming to provide greater security to investors, particularly from overseas, and encourage long-term investments in the country. The proposal is seen as a direct response to changing dynamics in the global economy. Geopolitical shifts and tensions between several countries have prompted foreign investors to seek safer alternatives in Southeast Asia, with Thailand emerging as an attractive option due to its appeal. By allowing greater foreign involvement in the real estate sector, the government anticipates to bolster the economy and position Thailand as a leading destination for international investors. For the Thai property market, these measures could drive demand, particularly in prime locations in cities like Bangkok and Phuket, which are already experiencing strong foreign interest. The potential increase in foreign investment could stimulate growth in both residential and commercial properties, leading to job creation and infrastructure development. However, critics of the proposal have raised concerns about the potential impact on local buyers, fearing that an influx of foreign buyers could drive up property prices. The government will need to carefully balance the interests of both local and foreign investors to ensure sustainable growth in the real estate sector. In 2024, these proposed changes have generated intense debate, with both real estate professionals and the public closely watching the government’s next move. If approved, these reforms could reshape the Thai property market for years to come. Tourism revenue misses target despite state initiatives Despite being regarded as a key driver for economic growth, in 2024 the tourism industry missed its target with weaker revenue than projected. The “Ignite Thailand Tourism” campaign was the government’s flagship policy this year, but Tourism and Sports Minister Sorawong Thienthong admitted that Thailand will likely miss the 3-trillion-baht target. The government started many initiatives to facilitate tourist flows, notably the visa-free scheme for visitors from 93 countries, launching a Destination Thailand Visa, and exempting the use of TM6 forms at land borders. The administration also pledged to attract more festivals, extending the Songkran celebration to a month, before closing the year with the Winter Festival, a series of celebrations during November and December. Unfortunately, such efforts were not enough to fully resume travel sentiment as tourism expenditure was severely hit by numerous factors, particularly among domestic tourists and key markets like China and Japan. The flow of tourists was also disrupted by the Northern floods in September and the recent Southern floods, which started in late November. Chamnan Srisawat, president of the Tourism Council of Thailand (TCT), said the sluggish economy and high household debt had impacted domestic travel, while those with sufficient funds had preferred to take overseas trips instead, especially to Japan and China, which offer visa-free entry for Thais. Meanwhile, inconsistent politics, as witnessed by cabinet changes under two prime ministers and three tourism ministers, also hampered the economic sentiment. Mr Chamnan said the government’s desire to boost tourism in second-tier cities has not yet been successful, as most of them are promoted via seasonal events without new manmade and facilities development to sustain the growth in the long run. On the supply side, foreign nominees reaping the benefits of tourism growth and illegal accommodation have also been an ongoing problem, preventing the local economy from prospering. TCT hopes the situation will improve next year, thanks to more economic stimulus schemes, increasing numbers of flights, and the anticipated We Travel Together scheme that could boost domestic tourism. Mr Chamnan also urged the government to fulfil its promise to develop and upgrade tourism supply, starting construction of new attractions and entertainment complexes, and not only holding world-class festivals. Producers struggle as Chinese goods flood the market Thailand not only faced severe flooding in 2024, but was also flooded with cheap imports, leaving many local manufacturers struggling to keep their businesses afloat. The Office of Industrial Economics attributed the tougher competition to foreign sellers who increasingly gained market share in the country. Combined with weak consumer purchasing power and high household debt, this resulted in a dip in the 2024 Manufacturing Production Index (MPI). Officials estimated the MPI would contract by 1.6% this year, with GDP growth in the industrial sector at -1%. Many people bought cheap imported products rather than locally made items in 2024. The private sector said these low-cost imports mainly come from Chinese entrepreneurs who often sell the items via online platforms. The influx of Chinese products into Southeast Asia is harming Thailand’s trade, reducing its market share in the region and leading to a trade deficit with China, according to the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB). During the first half of 2024, imports of Chinese products increased by 7.12% year-on-year, with a value of US$37.5 billion, leading to a trade deficit of $19.9 billion, a year-on-year increase of 15.6%. In Southeast Asia, the market share of Thai electrical appliances fell to 11.5% in the first quarter of 2024, down from 12.7% year-on-year, while the market share of Thai-made cars fell to 18.7% for the period, dipping from 20.9%. Without government measures to protect Thailand against Chinese products, many local firms are likely to shut down, warned Payong Srivanich, chairman of the Thai Bankers’ Association, a key JSCCIB member. Various state agencies, led by the Commerce Ministry, are addressing the issue. They plan to sign a memorandum of understanding with e-commerce platforms by early 2025 to remove substandard imported products from their platforms. The Customs Department offered help by imposing the 7% value-added tax on imports valued at less than 1,500 baht to slow their sales, while the Thai Industrial Standard Institute increased the monthly inspection of products listed on online platforms. Workforce shrinks amid slump in sales Employment in Thailand’s automotive industry is on the decline, with key automakers announcing plans to reduce their headcounts this year amid sluggish domestic car sales. In November, Japanese manufacturer Nissan Motor said it would cut or transfer 1,000 jobs in the country under a plan to scale down production in Southeast Asia, according to media reports. The Yokohama-based firm needs to improve its work structure for greater efficiency, said Toshihiro Fujiki, president of Nissan Motor (Thailand). Likewise, Suzuki Motor Corporation announced in June it would close its car manufacturing base in Rayong by the end of 2025, opting to import electric cars instead as part of a plan to review the company’s global production structure. The move would reduce the company’s headcount by roughly 1,000 employees, said Wallop Treererkngam, executive vice-president of Suzuki Motor (Thailand). He said more layoffs in the automotive industry are possible if stagnant domestic sales persist. The Federation of Thai Industries (FTI) attributed the significant drop in car sales to banks and finance firms’ stricter criteria in the granting of auto loans for fear of non-performing loans amid concerns over the high level of household debt in the country. Though the Bank of Thailand said total household debt represented 89.8% of GDP in the second quarter of this year, down from 90.8% in the first quarter, the debt-to-GDP ratio remains high. There are 700,000 to 800,000 workers in the automotive, auto parts and electronic component supply chain in Thailand, according to the FTI. In addition to the debt issue, changes in automotive technology are also affecting employment. The shift away from internal combustion engine (ICE)-powered vehicles to electric vehicles has had a negative impact on auto parts manufacturers that are already accustomed to components produced for ICE cars, said Surapong Paisitpatanapong, vice-chairman of the FTI and spokesman for the club.

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