Organisers promise best IT&CMA and CTW in its 10 year run in Thailand


ITCMA and CTW will have much to celebrate as this international business event commemorates its 10th year in Thailand. This 2011, Asia’s Only Doublebill Event In MICE and Corporate Travel will present an exceptionally strong exhibitor showcase, new and innovative sponsored activities to engage delegates and an enviable buyer profile that includes some of the industry’s mega buying houses.

Exhibitors Choose To Invest At ITCMA and CTW 2011
– Up and coming MICE destinations Cambodia and Vietnam have chosen ITCMA and CTW as their debut business platform to the MICE and Corporate Travel industry. With the objective of promoting and increasing awareness of their capabilities as a MICE Destination, Ministry of Tourism, Cambodia and Vietnam MICE Club are making a powerful inaugural statement with a 36sqm and 48sqm booth respectively. This achievement also represents the event’s first major break-through in the Indochina region.
– Returning exhibitors are making larger investments in ITCMA and CTW as evidenced through the increase in booth sizes. Pattaya MICE City has more than tripled their exhibition space from 18sqm to a whopping 60sqm. Sri Lanka Convention City has also increased their space from 18sqm to 24sqm.
– National States such as Hyderabad CVB and Seoul Sabah, have emerged from their country pavilions to participate as individual entities. This is due to the event’s growing reputation, consistent delivery of ROI and strong industry confidence.
– In total, ITCMA and CTW will see a 10% leap to some 335 exhibiting companies this year, closely matching its previous high in 2009.

Said Mr Darren Ng, Managing Director of TTG Asia Media – event organiser of ITCMA and CTW, “Despite the good showing in terms of exhibitor numbers, the show is looking to re-emphasize its ability to deliver a quality exhibition showcase of international MICE and Corporate Travel suppliers. We want to position ITCMA and CTW as a powerful international platform for suppliers around the world to achieve their diverse business objectives.”

New and Innovative Activities To Engage MICE Corporate Travel Delegates, Is A Hit With Sponsors
– Busan is sponsoring a 108sqm the event’s first-ever Hosted Delegate Lounge. Located on the exhibition floor, this lounge will be the perfect way for hosted buyers (MICE and Corporate Travel Managers) and media to catch up on business without having to miss the other goings-on at the event.
– Another first at ITCMA and CTW is Intercontinental Hotels and Resorts’ Roving Polaroid Pictures to allow delegates to capture memories of the event, as they happen.

This slew of new sponsorship ideas has created fresh and exciting opportunities for exhibitors to enhance their presence at ITCMA and CTW, while value-adding to delegates’ experience at the event. Meanwhile, sponsorship of delegate bags, escalator wraps, tee-shirts, lanyards and badges has been snapped up by long time partner, Thailand Convention and Exhibitions Board (TCEB), while Meetings and Exhibitions Hong Kong will be engaging delegates with an informal sun-downer at the end of the business day.

Improved Buyer Validation and Acquisition Process Results In Quality MICE Corporate Travel Buyers With Spending Power
– Exhibitors looking for buyers with deep pockets will be satisfied to meet representatives from organisations with annual budgets for Asia ranging from USD 250,000 to USD 2,000,000. This includes Stella Travel Services – Australia, Web Applications Society @WAS-Austria, China International Travel Agency (CITS) – Shanghai, Centre Formation ESKA – France, Next Generation Ltd – Greece, Delta Travel Group – Hungary, International League Against Epilepsy – Ireland, PRM Events/ PRM Brokers Limited – United Kingdom, and many more.
– This 2011, the event will also welcome first-time MICE buyers from eight new countries: Argentina, Bangladesh, Cambodia, Denmark, Latvia, Lebanon, Macedonia and Saudi Arabia; all with a keen interest in buying into Asia.
– The specially formed TTG Advisory Committee’s concentrated efforts to increase participation from Corporate Travel Managers this year continues to yield results. Along with a record 125 Corporate Travel Managers to date, the show will see representation from three new countries: Taiwan, Italy and United Kingdom.
– Quality of Corporate Travel Manager profiles continue to remain high with the largest contingent of travel managers belong to leading MNCs in the Engineering, Energy, Petroleum, Chemicals and Manufacturing industries.
– Meanwhile, Corporate Travel demand from China, Thailand and United States have surged with travel managers from these territories almost tripling this year.

Some 120 international and local Thai media will be providing international coverage to ITCMA and CTW 2011. Thanks to the support of its four TTG Official Media and 28 international Media Affiliates, the event has already received considerable global exposure in the run up to the event.


Organisers promise best IT&CMA and CTW in its 10 year run in Thailand


ITCMA and CTW will have much to celebrate as this international business event commemorates its 10th year in Thailand. This 2011, Asia’s Only Doublebill Event In MICE and Corporate Travel will present an exceptionally strong exhibitor showcase, new and innovative sponsored activities to engage delegates and an enviable buyer profile that includes some of the industry’s mega buying houses.

Exhibitors Choose To Invest At ITCMA and CTW 2011
– Up and coming MICE destinations Cambodia and Vietnam have chosen ITCMA and CTW as their debut business platform to the MICE and Corporate Travel industry. With the objective of promoting and increasing awareness of their capabilities as a MICE Destination, Ministry of Tourism, Cambodia and Vietnam MICE Club are making a powerful inaugural statement with a 36sqm and 48sqm booth respectively. This achievement also represents the event’s first major break-through in the Indochina region.
– Returning exhibitors are making larger investments in ITCMA and CTW as evidenced through the increase in booth sizes. Pattaya MICE City has more than tripled their exhibition space from 18sqm to a whopping 60sqm. Sri Lanka Convention City has also increased their space from 18sqm to 24sqm.
– National States such as Hyderabad CVB and Seoul Sabah, have emerged from their country pavilions to participate as individual entities. This is due to the event’s growing reputation, consistent delivery of ROI and strong industry confidence.
– In total, ITCMA and CTW will see a 10% leap to some 335 exhibiting companies this year, closely matching its previous high in 2009.

Said Mr Darren Ng, Managing Director of TTG Asia Media – event organiser of ITCMA and CTW, “Despite the good showing in terms of exhibitor numbers, the show is looking to re-emphasize its ability to deliver a quality exhibition showcase of international MICE and Corporate Travel suppliers. We want to position ITCMA and CTW as a powerful international platform for suppliers around the world to achieve their diverse business objectives.”

New and Innovative Activities To Engage MICE Corporate Travel Delegates, Is A Hit With Sponsors
– Busan is sponsoring a 108sqm the event’s first-ever Hosted Delegate Lounge. Located on the exhibition floor, this lounge will be the perfect way for hosted buyers (MICE and Corporate Travel Managers) and media to catch up on business without having to miss the other goings-on at the event.
– Another first at ITCMA and CTW is Intercontinental Hotels and Resorts’ Roving Polaroid Pictures to allow delegates to capture memories of the event, as they happen.

This slew of new sponsorship ideas has created fresh and exciting opportunities for exhibitors to enhance their presence at ITCMA and CTW, while value-adding to delegates’ experience at the event. Meanwhile, sponsorship of delegate bags, escalator wraps, tee-shirts, lanyards and badges has been snapped up by long time partner, Thailand Convention and Exhibitions Board (TCEB), while Meetings and Exhibitions Hong Kong will be engaging delegates with an informal sun-downer at the end of the business day.

Improved Buyer Validation and Acquisition Process Results In Quality MICE Corporate Travel Buyers With Spending Power
– Exhibitors looking for buyers with deep pockets will be satisfied to meet representatives from organisations with annual budgets for Asia ranging from USD 250,000 to USD 2,000,000. This includes Stella Travel Services – Australia, Web Applications Society @WAS-Austria, China International Travel Agency (CITS) – Shanghai, Centre Formation ESKA – France, Next Generation Ltd – Greece, Delta Travel Group – Hungary, International League Against Epilepsy – Ireland, PRM Events/ PRM Brokers Limited – United Kingdom, and many more.
– This 2011, the event will also welcome first-time MICE buyers from eight new countries: Argentina, Bangladesh, Cambodia, Denmark, Latvia, Lebanon, Macedonia and Saudi Arabia; all with a keen interest in buying into Asia.
– The specially formed TTG Advisory Committee’s concentrated efforts to increase participation from Corporate Travel Managers this year continues to yield results. Along with a record 125 Corporate Travel Managers to date, the show will see representation from three new countries: Taiwan, Italy and United Kingdom.
– Quality of Corporate Travel Manager profiles continue to remain high with the largest contingent of travel managers belong to leading MNCs in the Engineering, Energy, Petroleum, Chemicals and Manufacturing industries.
– Meanwhile, Corporate Travel demand from China, Thailand and United States have surged with travel managers from these territories almost tripling this year.

Some 120 international and local Thai media will be providing international coverage to ITCMA and CTW 2011. Thanks to the support of its four TTG Official Media and 28 international Media Affiliates, the event has already received considerable global exposure in the run up to the event.


Eurozone: Trim The Fat, Roast The PIIGS

“Wisdom is nothing more than healed pain.”

Robert E. Lee

The euro situation is going from bad to worse, and the effects are spilling over to the U.S. and the rest of the world. The EU’s inability – or lack of desire – to address the issues at hand when they had the chance has contributed to this mess. Instead of coming up with a concrete solid plan, they opted for short term fixes and kicked the proverbial can of worms further down the road, hoping that by some good fortune/ingenuity, the situation would remedy itself. This proved to be wishful thinking, and now the can is so heavy that the mightiest kick barely has any effect. D-Day is fast approaching, and the ECB and top members of the EU are no closer to a solid plan than they were two years ago.

Greece is struggling to convince the world that it has its debt under control, but hardly anyone seems to be buying this line. It is now estimated that Greece’s chance of a default is 98%; no amount of reassuring seems to have any effect on the markets. The cost of insuring $10 million of Greek debt has soared to a new record of $5.8 million.

Greece‘s stock market has shed over 33% in the past 7 weeks, and the yield on its 2 year note is now at a whopping 70%. In response to this, the euro is trading at new seven month lows against the dollar and it hit a 10-year low against the yen.

Some of the top members of the EU, like Germany, are reluctant to release additional funds because Greece is having a hard time meeting the deficit requirements that were set. This is something they should have woken up to right at the beginning; instead they sought to throw good money into a black hole, in the hopes that Greece would get its act together, despite knowing otherwise. Once the debt to GDP ratio exceeds 100%, very few nations have the capacity to swing back to the black. With a GDP to debt ratio in excess of 140, Greece is toast.

Now German officials are hinting that Greece might have to endure a so called “orderly bankruptcy” to put an end to this crisis. Is there such a thing as an orderly bankruptcy? A default will most likely make the euro look less attractive and put more upward pressure on safe haven currencies such as the Swiss franc and Japanese yen. This, in turn, will force these nations to intervene in the currency markets to stem the rise of their currencies, propelling the currency wars to the next level. Eventually, it could push one of these nations (Japan is the prime candidate) to peg their currency to a weaker currency. Taking the high road no longer pays as these nations are discovering, for all the leading economies are overtly manipulating their currencies – the lead player in this case being the U.S.A.

Without these emergency loans/handouts, Greece will soon run out of money. The Greek prime minister has stated that they have enough money to pay their debts until October; other experts state that they could run out of money before the end of the month. The whole bail out process was nothing but a bank rescue operation in disguise, and the disguise was rather pathetic. No one bails out the little investor when he makes a mistake, and the same should hold true for these banks. Why are they paying their analysts in the millions if they cannot distinguish a bad investment from a good one? French and German banks have the largest exposure to Greek debt as shares of their big banks shed in excess of 10% on Monday. Greece is the Fannie Mae of Europe – an investment whose only function is to lose money.

All of a sudden, the much hated U.S. dollar has become a safe haven currency; the dollar has exploded upwards in the past few days. Yields on 10-year notes continue to drop to new lows; the current yield is 1.93. The Treasury sold $32 billion of 3-year notes at a record-low yield due to concerns that Greece is moving closer to a default. The 3-year note is yielding 0.33% (negative yield when inflation is taken into consideration), and the 30-year bond has a yield of 3.24%. The bond market is a bubble waiting to pop as such yields are simply unsustainable.

Chancellor Merkel seems to have little faith that Greece can avoid a default, stating yesterday that decisions taken in July by European leaders “won’t suffice” to save Greece from missing a payment on its debt.

Greek Default.com notes that the General Secretariat for Information Systems (GSIS) has just published a detailed list of the corporate entities that owe more than €150,000 in tax arrears. There are 6,000 companies on the list with arrears of €30.9 bn. 10 companies alone owe €4.4 bn, with train company OSE leading the way; the top 100 companies owe €11.7 bn. Of the 6,000 companies with arrears, 212 make up 50% of the total.

The publication of this list will certainly create pressure, but with tax collectors on strike it remains to be seen if the publication of this list will help with the collection of taxes. The Wall Street Journal states that thousands of Greek tax collectors and customs officials walked off the job Monday in the first day of a two-day strike over plans to cut civil service salaries, the latest in a string of protests over Greek government reforms. They were joined by taxi owners, who have called their own two-day walk over plans to liberalize taxi services, and garbage collectors in the capital, Athens, who are staging a separate 48 hour strike over local government cutbacks. “The participation rate in the strike is over 90%,” said Yiannis Grivas, head of the tax collectors’ union, or POE-DOY. “The workers are striking to protest the looting of their income.”

Increasingly, it appears that Greece is Europe’s Lehman brothers and just as the Feds let Lehman sink, the Europeans are increasingly eying this possibility. With yields on two year notes at an astronomical 70%, a shrinking economy and tax collectors on strike, the odds are slim to none that Greece is going to be able to pay of its debt. The repercussions could be huge, because banks will instantly have to write off these losses. If not handled properly, this could lead to a run on the banks and could also impact funds in the U.S., which hold European debt.

Inadvertently, the ECB might/could find itself in the position of having to guarantee French, Belgian, Spanish and, possibly, German debt. If handled properly, such a dire outcome could be avoided. However, this is a topic for another article. One possibility would be for the ECB to guarantee virtually every part of the financial market like the Feds did back in 2008. The Fed, Treasury and the FDIC guaranteed everything commercial paper, money-market funds, bank deposits, asset-backed securities, etc.

The situation is not that rosy in the USA. The US is broke, instead of allocating money to create new jobs via new infrastructure projects. Trillions have been spent on propping up the stock market. The quality of life for the average American has not improved in the past two years and the job market remains as tough as ever. The situation in Europe could spill over here and the US could also soon be singing the blues. Economists have already dropped their growth forecasts for 2011 and 2012.

In their latest forecast, top economists with the National Association for Business Economics predict that the economy will grow 1.7 percent this year — down from the group’s May prediction of 2.8 percent expansion. For 2012, the group is forecasting growth of 2.3 percent, compared to a May forecast of 3.2 percent growth. “A wide variety of factors were seen as restraining growth, including low consumer and business confidence,” said Gene Huang, the president-elect of NABE and one of 52 professional forecasters who participated in the survey. “Panelists are very concerned about high unemployment, federal deficits and the European sovereign debt crisis,” said Huang, who is chief economist at FedEx Corp (FDX).

Bank of America (BAC) has stated that it’s going to slash its workforce by 10%, eliminating 30,000 jobs. This is only going to increase the number of unemployed and make it even harder for those already seeking work to land new jobs.

Conclusion

The EU is between a hard place and a rock; they cannot simply continue to pour money down a black hole. 90% of Germans are completely against any future bailouts/handouts and 85% think that banks should be allowed to bite the bullet for their foolish investments. Allowing Greece to go through a so called “orderly default” might not be the best option. Throwing them out of the EU might be a better option.

The initial reaction will be extremely negative and there will be a huge dose of pain, but at least a strong message will be sent out to the future would-be defaulters – that they need to either get their house in order or risk the same fate. There is no easy way out and taking a half-baked approach might end up causing even more pain down the line.

In an illustration of how dreadful the situation is, U.S. Treasury Secretary Timothy Geithner will travel to Poland to attend a meeting of eurozone finance ministers later this week. It will mark the first time in history that a U.S. Treasury secretary has attended such a meeting. The sudden resignation of Juergen Stark, Chief economist of the European Central Bank, came as another shock to the markets. Shares in Societe Generale (SCGLY.PK), BNP Paribas (BNP) and Credit Agricole (CRARF.PK) were hammered again due to expectations that Moody’s would downgrade all of them as a result of their exposure to Greek bonds.

Makoto Noji, senior strategist at SMBC Nikko Securities said:

Europe is not just lurching from one crisis to another. It is lurching into a new one before the previous one is solved.

The situation in the US is not much better. Our debt is exploding upwards at an unsustainable rate. Our economy appears to be slowing down. Unemployment remains stubbornly high and so far nothing the government has done has effectively reduced the unemployment rate. At some point, rates are going to have to rise, or we are going to have to implement back-breaking austerity measures; either way, the long-term outlook is far from bright. There is simply no way that rates can remain at such historically low levels indefinitely.

In turbulent time, investors should take out some insurance. Purchase puts as a form of insurance. Better yet, take some money of the table and wait for a better time to redeploy those funds. One good timing indicator is to wait until fear levels hit an extreme; this technique will not get you in at the exact bottom, but it will help you purchase stocks at extremely attractive prices.

Investors searching for high yields can use the list of stocks published in our recent article as a guide. Traders can use strong rallies in the euro to open up positions in EUO and UUP, as the charts are indicating that the euro is going to through a very difficult phase over the next few months.

“The trouble with normal is it always gets worse.”

Bruce Cockburn

Disclosure: I am long EUO. These positions were opened several weeks ago.


Backlash Builds in Greece Against New Cuts

Backlash Builds in Greece Against New Cuts
September 13, 2011

Related articles

Euro at New 10 Year-Low Versus Yen on Greece Woes 1:24pm Sep 12, 2011

Volatility to Remain in Stock Market But Europe to Dictate Pace 9:52pm Aug 21, 2011

Germany Alone at Top of Investment In European Bonds 12:25pm Aug 12, 2011

Markets Braced for Another Shudder 12:54am Aug 11, 2011

Greek Finance Minister Sees Light at End of Debt Tunnel 9:42pm Jul 19, 2011

Post a comment

Please login to post comment

Comments

Be the first to write your opinion!


Athens. Greece faced a new bout of industrial unrest Tuesday over an unexpected fresh round of austerity measures enacted to overcome scepticism by EU-IMF creditors over the country’s halting reform pace.

Taxi owners opposing a liberalization of their sector are to demonstrate outside parliament later in the day after mounting a three-week strike in July that disrupted the travel plans of thousands of tourists.

Tax office and customs staff and hospital doctors began a strike on Monday against salary and budget cuts, while garbage collectors are holding four-hour work stoppages over layoffs.

And millions of home-owners are in arms after the government at the weekend announced a new property tax translating into hundreds of euros on average — just 10 days after a higher sales tax on food at restaurants and hotels came into effect.

Prime Minister George Papandreou has tried to galvanize his embattled government and his dispirited parliamentary majority to approve the fresh measures, warning that Greece’s economic survival is at stake.

“It is time to complete the battle to give Greece safety,” he told the ruling party’s lawmakers on Monday.

“Together we must silence those who doubt us,” Papandreou said.

Greece’s eurozone partners have warned that reform delays and slippage from agreed fiscal targets could cost Athens the timely release of an eight-billion-euro loan slice, part of a 110-billion-euro bailout ($150-billion) contracted last year to forestall a looming Greek bankruptcy.

Reform laws voted months ago have yet to be put into practice, and a crash privatization program has made little tangible progress.

Skepticism towards Greece is gathering pace just as European parliaments are meeting to finalize a new 159-billion-euro bailout agreed in July.

The government this week called on over 150 state-owned companies and utilities to earmark excessive staff for early retirement and transfer to other public sector jobs where there are shortages.

The authorities have promised to reduce the state payroll by 150,000 staff by 2015.

The single currency on Monday fell to a 10-year low against the Japanese yen and German bond yields tumbled as traders sought a safe haven after senior German policymakers raised the spectre of an ignominious Greek eurozone exit.

Markets were already volatile following the shock resignation of the chief economist at the European Central Bank, Juergen Stark, after the German reportedly disagreed with the ECB’s policies to fight the debt crisis.

And analysts feared that a sharper tone from Berlin indicated that Europe’s paymaster was losing patience with Athens and its deficit problems.

Agence France-Presse