Business
The Price of Gold in Thailand Surpassed US$2,100 Per Ounce

On Monday morning, the price of gold in Thailand surpassed US$2,100 per ounce, while the price of Bitcoin surpassed $40,000 in response to growing anticipation that the Federal Reserve (Fed) has completed its US interest rate hike and will begin a rate decrease next year.
Gold contracts on the Comex (Commodity Exchange) market for delivery in February of next year increased $16.70, or 0.80%, to $2,106.40 per ounce on Monday morning.
Gold prices jumped substantially on Friday, according to local gold broker Hua Seng Heng, and surged nearly $70 last week after Fed Chairman Jerome Powell signaled that the US central bank may have finished raising interest rates.
The comments led the currency to weaken and US bond yields to fall, which supported gold prices.
This week’s key indicators include US employment numbers, covering private sector employment in November and non-agricultural employment in the same month.
Hua Seng Heng anticipates that gold prices will continue to rise after breaking through a critical barrier level of $2,050 on November 3. The next level of resistance is above 2,100, which would represent an all-time high.
According to Klein Rodda, an analyst at Capital.com, uncertainty regarding the Fed’s interest rate policy has influenced not only gold prices but also Bitcoin prices, which climbed sharply on Monday morning.
Investors will be looking for clarity on the Fed’s rate policy with the release of non-agricultural employment data in the United States on Friday.
While Wall Street Journal questioned analysts, non-agricultural employment in the United States is predicted to reach 190,000 jobs last month, up from 150,000 jobs added in October. In November, the unemployment rate is predicted to remain unchanged at 3.9%.
Analysts also believe that the possibility of a US interest rate cut will keep gold prices up till next year.
Geopolitics, elections in major nations, and the prospect of major economies entering recession are among the concerns for next year. These concerns, they claim, are fueling an appetite for investment in gold, a safe-haven asset.
Gold in Thailand
In Thailand, gold has enormous cultural, social, and economic significance. The Thai people have a long history with gold, and it plays an important role in their culture. Several characteristics of Thai people’s relationship with gold are as follows:
Thailand is a largely Buddhist country, and gold has long been connected with religious and spiritual values. Many Thai Buddhist temples and statues are covered in gold leaf, which represents purity and enlightenment.
Gold is frequently utilized in different ceremonies and rituals, such as weddings and religious gatherings. It is regarded a fortunate metal, representing wealth, success, and good fortune.
Thailand has a long history of trading in gold. People buy and sell gold jewelry, bars, and ornaments in the country’s gold markets. The gold trade has a huge impact on the national economy.
Thai gold jewelry artistry is well-known around the world. The country boasts a thriving goldsmith sector that produces elaborate and gorgeous gold jewelry that represents both heritage and current aesthetics.
Wealth and Social Status:
In Thai society, owning and wearing gold jewelry is seen as a mark of social rank and riches. People may invest in gold to save money and to show their wealth.
Gold is usually presented as a gift on certain occasions, and it is especially important in traditional Thai weddings as part of the dowry.
Many Thais regard gold as a dependable store of value. It is frequently employed to save money and preserve wealth, particularly during times of economic turmoil.
Some people, in addition to jewelry, invest in gold bullion and coins as a tangible asset. The Thai government has also created gold coins, which has contributed to gold’s attractiveness as an investment.
Gold is widely featured in royal ceremonies and celebrations. The Thai monarchy has always employed gold in many forms, and it is especially important in royal rites and regalia.
The Thai people’s relationship with gold is profoundly entwined with cultural, economic, and societal factors. Gold is not simply a precious metal; it is also a symbol that embodies Thai society’s spiritual, social, and economic values.
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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
SEE ALSO:
Old National Bank And Infosys Broaden Their Strategic Partnership.
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
SEE ALSO:
American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack
States Sue TikTok, Claiming Its Platform Is Addictive And Harms The Mental Health Of Children
Qantas Airways Apologizes After R-Rated Film Reportedly Airs On Every Screen During Flight
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.
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
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