Four people were killed, and two were severely injured, when a grenade went off during a dinner gathering in Nam Bak district, Luang Prabang Province on Wednesday.
OctaFX: Most crucial economic events in the second half of 2023 – Part 1
In this article, OctaFX experts describe three events investors and traders should be aware of. Also, they talk about the impact of Fed decisions on the U.S. dollar exchange rate, the early onset of U.S. presidential election mania, and how India’s wedding season could accelerate the gold price.
KUALA LUMPUR, MALAYSIA – Media OutReach – 14 September 2023 – With the global economy weakening, you may wonder what will impact capital markets in the second half of 2023. Will the U.S. Federal Reserve stop raising rates? What factors will influence dollar and gold prices? What will be the key themes of the year ahead? Several vital stories in the remainder of 2023 are worth considering when investing in global markets.
Fed is expected to slow or pause rate hikes in the remaining 2023
The Fed has raised interest rates 11 times since March 2022 to control runaway inflation, raising its key lending rate in July to the highest level in 22 years. This caused a decline in the U.S. stock market, a rise in Treasury yields, a banking crisis, and a strengthening of the U.S. dollar.
In the first half of September, U.S. Federal Reserve officials said the U.S. central bank can afford to sit tight for now but do not rule out the possibility of another rate hike to fight inflation. According to the CME FedWatch Tool, the probability of a pause at the upcoming FOMC meetings is high, with a 93% probability of holding at the end of the September 2023 meeting and a 58% probability of pause at the end of the December 2023 FOMC meeting.
Investors should keep in mind that business cycles usually outpace economic cycles. Therefore, if a pause is announced at the September FOMC meeting on 19 – 20 September, the U.S. dollar will likely weaken, and stock market prices will rise.
Early onset of U.S. presidential election mania
The next 60th presidential election is scheduled for 5 November 2024. On 15 November 2022, Donald Trump announced the launch of his campaign. On 25 April 2023, incumbent U.S. President Joe Biden announced his candidacy.
Suppose we superficially characterise the two sides of the upcoming election. In that case, it comes out that Donald Trump and the Republicans are committed to traditional values, including being in favour of lowering the tax burden and doing away with non-performing subsidies. At the same time, Joe Biden and the Democrats welcome immigration, equality, and increasing the tax burden on the rich.
Both candidates have already launched their campaigns, meaning the number of political commentaries will increase even before the primary elections in early 2024. In the current situation, the Republicans’ preponderance of votes is perceived as a positive signal for the markets—stock market growth. At the same time, the preponderance of votes favouring the Democrats is perceived as a negative signal—strengthening of the U.S. dollar. Investors should listen to the early signs coming from the U.S. media regarding the presidential election and adjust their investment strategy depending on the emerging early signals.
India’s wedding season could accelerate the gold price
Seasonality strongly influences gold performance throughout the year, particularly with major consumers in India and China who use it for cultural and religious purposes. The period from November to February is a particularly favourable time for the precious metal, which falls in the middle of the wedding season in India. More than half of all gold demand in India is for weddings, which require a massive amount of jewellery, and gold is often seen as a sign of wealth and status among Indians.
With the U.S. Federal Reserve signalling a pause in key rate hikes, the effect of the wedding season could be synergistic—rising demand for gold against a weak dollar will boost gold prices from November 2023 onwards.
We live in an unstable economic and political environment of challenge and turmoil. However, amidst the challenges, there are opportunities for those investors who keep their finger on the pulse of the action. From September 2023 onwards, there will be many opportunities, starting with the U.S. Federal Reserve’s interest rate decision and the wedding season in India. If you want to know more, read the rest of the article in part two.
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About OctaFX
OctaFX is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services already utilised by clients from 180 countries with more than 42 million trading accounts. Free educational webinars, articles, and analytical tools they provide help clients reach their investment goals.
The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.
OctaFX has also won more than 60 awards since its foundation, including the ‘Best Online Broker Global 2022’ award from World Business Outlook and the ‘Best Global Broker Asia 2022’ award from International Business Magazine.
Oudomxay Court Sentences Four Men to Death for Drug Trafficking

Four people arrested in November 2020 on drug trafficking charges, were handed a death sentence by the People’s Court of Oudomxay Province earlier this month.
DBS and RESET Carbon partner to scale up decarbonisation solutions in Asia’s manufacturing supply chain
MOU signed to facilitate opportunities for sustainable finance
According to the United Nations Environment Programme, the trillion-dollar fashion industry accounts for up to 8% of global carbon emissions[1]. Of this, upstream activities within the supply chain including materials production, preparation and processing, account for an estimated 80% of emissions[2]. While apparel brands have made strides to reduce emissions[3] in their own operations to be in line with their commitments, decarbonising supply chains continues to be a hurdle.
To enable and accelerate sustainable growth in the AFT sector, DBS and RESET aim to work with both buyers and suppliers, including small and medium enterprises, in Asia’s manufacturing supply chain. AFT brands can access RESET’s advisory services and technical support to drive carbon reductions in their supply chains, set science-based carbon targets, as well as strengthen in-house capabilities. DBS will provide financing solutions to suppliers to invest in cost-effective technologies that enable meaningful reductions in their factory emissions, water use and waste.
In addition, companies can participate in the Carbon Leadership Program (CLP) developed by RESET and the Apparel Impact Institute (Aii). The three-year-old program is designed to help apparel brands and their suppliers set science-based carbon reduction targets. Action plans are then developed through benchmarking and assessments, using a set of standardised tools and collaborative processes.
To date, over 20 of some of the world’s largest apparel brands have participated in the program – representing up to three million tonnes of CO2 avoided per year, if the action plans are fully implemented.
Yulanda Chung, Managing Director, Head of Sustainability, Institutional Banking Group at DBS, said, “Joining forces with an experienced industry practitioner like RESET is a signal that we mean to effect changes in the real economy rather than offering soundbites. The apparel sector is looking for solutions, in both finance and resource efficiency advisory, to mitigate the harmful impacts of fast-changing fashion. This partnership brings together DBS’ extensive Asia network, expertise in sustainable finance with RESET’s successful Carbon Leadership Program.”
Liam Salter, CEO of RESET said, “RESET’s mission is to drive significant carbon reductions in our customers’ value chains. With financing increasingly seen as an integral part of the solution, we are excited to partner with DBS who we view as the most innovative bank in the region to develop new solutions for our collective customers.”
Named World’s Best Bank for Corporate Responsibility[4], DBS offers support to corporate and institutional clients through a range of sustainable finance solutions, from renewable energy financing, green loans, sustainability-linked loans, ESG bonds, green and sustainable trade financing.
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About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “
World’s Best Bank” by Euromoney and “
Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “
World’s Best Digital Bank” by Euromoney and the world’s “
Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “
Safest Bank in Asia” award by Global Finance for 14 consecutive years from 2009 to 2022.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About RESET Carbon
For over 14 years, RESET Carbon has been working with companies and institutions across Asia to resolve the environmental crisis by making meaningful reductions in their carbon, water and waste footprint.
Headquartered in Hong Kong, with offices in Shanghai, Shenzhen, Taipei, Ho Chi Minh City, Chennai, and Munich, RESET delivers end-to-end carbon management and corporate renewable energy services for customers in the real estate, manufacturing, and retail sectors. Their services include strategy development, target setting, roadmap and carbon inventory development, renewable energy procurement, decarbonization programs and more. For more information please visit: www.resetcarbon.com
Laos Sends Delegation to 11th Meeting of State Parties to Convention on Cluster Munitions

A delegation of high-level government representatives from Laos, Deputy Minister of Foreign Affairs, Mr. Phoxay Khaykhamphithoune, shared Laos’ achievements and challenges regarding the issue of Unexploded Ordnance (UXO) at the 11th Meeting of States Parties of the Convention on Cluster Munitions (CCM) from 11 to 14 September 2023 in Geneva, Switzerland.
Thailand’s Government, Seeking Return of Tourists From China, Approves Visa-Free Entry for 5 Months

BANGKOK (AP) — Thailand’s new government Wednesday approved a measure granting temporary visa-free entry to Chinese tourists, signaling that the recovery of the country’s tourism industry is a top economic priority.
DHL delivers Formula 1® to Singapore, the first race in Asia of the 2023 season
- First DHL x Formula 1® co-branded Boeing 777 made its maiden flight to Singapore for this weekend’s race
- DHL helps Formula 1 reduce its ecological footprint by providing environmentally-friendly transport services as Official Logistics Partner
- A Formula 1 and DHL-branded race car is displayed at the Raffles City Mall for a fundraising activity with the Singapore Red Cross
SINGAPORE – Media OutReach – 14 September 2023 – DHL, the Official Logistics Partner for Formula 1® since 2004, delivered this weekend’s event in Singapore, the first race in Asia of the 2023 FIA Formula One World Championship. The event in Singapore signals the first flight for the new DHL x Formula 1® co-branded Boeing 777, arriving in Changi Airport.

As the longest-standing global partner of Formula 1® and industry leader in green logistics, DHL plays an important role in helping Formula 1 achieve its journey towards Net Zero by 2030. In addition to the Boeing 777, whose fuel-efficient technology reduces carbon emissions by 18% over legacy aircraft, DHL uses multi-modal transport solutions, including overland and ocean freight. Moreover, DHL trucks are equipped with GPS to monitor fuel consumption and optimize routes.
“DHL and Formula 1 are committed in working together to reduce its impact on the environment, whilst continuing to provide a safe and enjoyable event for fans,” says Arjan Sissing, Head of Global Brand Marketing at DHL Group.
This year marked a significant milestone as DHL and F1 took green logistics to the next level by introducing 18 new biofuel-powered trucks specifically for the European leg of the season over the summer. The new trucks run on HVO100 drop-in fuel (hydrotreated vegetable oil), where each truck can reduce an average reduction of 83% in carbon emissions compared to standard fuels. DHL and F1 are continuously exploring new solutions to further reduce Formula 1’s carbon footprint, including plans to incorporate sustainable fuels.
This season, the DHL Motorsports team will cover up to 150,000km, including six double headers, two triple headers, and an inaugural race in Las Vegas. DHL helps transport broadcast equipment, car and team equipment, hospitality equipment, fuel and tires.
As part of the Formula 1® festivities in Singapore, DHL will display a DHL-branded race car at Raffles Shopping Centre from 11-18 September. DHL will also partner with its long-standing charity partner, the Singapore Red Cross (SRC), for a fundraising activity from 15-17 September. Members of the public who are interested in donating can visit the display at the shopping mall, make a donation and stand a chance to win some DHL and Red Cross merchandise. All proceeds from the event will go to SRC to help vulnerable communities. This would include the isolated elderly, persons with severe disabilities and families in need.
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About DHL Group
DHL – Excellence. Simply delivered.
DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 395,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.
DHL is part of DHL Group. The Group generated revenues of more than 94 billion euros in 2022. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. DHL Group aims to achieve net-zero emissions logistics by 2050.
Luang Prabang Arts Centre to Host Exhibit on Misappropriation of Traditional Designs by Fashion Brands

The Traditional Arts and Ethnology Centre (TAEC) in Laos will be showcasing a new exhibition from 26 September in Luang Prabang, highlighting the issue of renowned designers “claiming inspiration” from ethnic artisans.