“The company is also seeking investment support from the Board of Investment,” he said, adding that this investment was inspired by the government’s move to promote the use and production of EVs in the country. The government is offering many incentives, subsidies and tax breaks to EV manufacturers, with the aim of matching one imported EV with a locally manufactured one by the end of 2024.

SCB 10X, (https://scb10x.com/), the digital technology investment and venture building arm of SCBX, announced the appointment of Mukaya (Tai) Panich as its new CEO, succeeding former CEO, Arak Sutivong. She will continue to hold the position of Chief Venture and Investment Officer, along with the newly appointed CEO position. SCB 10X also announced the promotion of Pailin (Pie) Vichakul, SCB 10X’s Partner & Head of Strategic Planning to Chief Operating Officer, who will report directly to Tai. Tai will lead SCB 10X’s initiatives to invest in and build the ecosystem of disruptive technologies in Southeast Asia and continue growing the SCB 10X team to achieve their moonshot mission. The appointment of Tai as the CEO of one of Southeast Asia’s most active venture firms is a historic moment for women in finance.

Illegal collapsible fishing traps, called ai ngo by local residents, are loaded onto a longtailed boat on Saturday in in Pak Phanang Bay off Nakhon Si Thammarat. (Photo: Nujaree Rakrun)NAKHON SI THAMMARAT: More than 300 illegal fishing traps were seized in Pak Phanang Bay in this southern province on Saturday, raising concerns about the depletion of marine resources. During a five-hour operation that lasted until 5am on Saturday, the team seized more than 300 of the collapsible traps, which are classified as destructive fishing gear. Local fishermen were earning more income, and the number of illegal fishing boats had dropped to about 500, said Mr Pornsak. However, the number of unlicensed fishing boats has since risen to 2,000 and many of them were fitted with illegal traps, he said.

(Reuters Photo)PHNOM PENH: A lack of trust and political will is stifling Myanmar’s peace process and Asean will continue to shun its ruling generals, unless they engage opponents and make concrete progress, the group's special envoy said on Saturday. Prak Sokhonn, who is also Cambodia’s deputy prime minister and foreign minister, said he would not give up on Myanmar, even though he had seen no willingness from any party to give up their fight. The Myanmar junta has become an international outcast due to its fierce crackdown on its opponents. Asean has barred the military from representing Myanmar at international meetings until starts to implement the peace plan. It said the military had always been clear that its commitment to the peace process would be determined by developments on the ground.

Mobilising fighter planes, helicopters and even warships, the drills aim to simulate a blockade of Taiwan and include practising an “attack on targets at sea”, according to state news agency Xinhua. It is the first time Chinese exercises have taken place so close to Taiwan, with some of the drills happening less than 20 kilometres from the island’s coast. China sees Taiwan as part of its territory and has vowed to one day take it, by force if necessary. The Chinese military “obviously has all the capabilities to impose such a blockade”, Song Zhongping, an independent Chinese military commentator, told AFP. American caution is also rooted in the fact that China has greatly increased its military capabilities since 1996, when it was unable to deny the US Navy access to the area.

One of the less-explored parts of India showcased its beauty and art at the 2nd Northeast India Festival in Bangkok with the aim of welcoming more tourists from Thailand.

Asian shares advance as oil prices retreatRECAP: Asian equities mostly rose yesterday as a drop in oil prices to pre-Ukraine war levels stirred hopes of a slowdown in inflation and bank interest-rate hikes. Institutional investors were net sellers of 13.55 billion baht while brokerage firms bought 1.05 billion baht. Foreign investors bought 8.84 billion baht and retail investors bought 3.65 billion baht worth of shares. NEWSMAKERS: Oil prices headed for the biggest weekly decline since early April on increasing evidence that a global economic slowdown is weakening demand, with prices near a six-month low. First, firms that will benefit from the slowdown in oil prices such as SCGP, GPSC, BGRIM, BCPG, CBG, SCC, TOA, EPG and GULF.

In parallel to producing its own original slate of films and series, Night Edge Pictures will start with what it calls “future cult favorites”, starting with You are not my Mother, Official Selection at Midnight Madness in the 2021 Toronto International Film Festival. Ingeniously marketed in Thailand with a Mother’s Day release date during the August 11 weekend, this directorial debut from Kate Dolan, award-winning Dublin International Film Festival and Gérardmer Film Festival writer-director, seamlessly blends Irish folklore and psychological illness in a deliciously baked cake. For the rest of 2022, Night Edge Pictures is set to release XYZ Films’ Nocebo starring Eva Green and Mark Strong as well as Official Fantasia Festival Selection Moloch, and Trustnordisk’s multi-awarded thriller Speak No Evil. With a combined tenure of almost two decades in advertising, marketing, film, TV, PR and luxury retail, Hans hails from the independent film scene. For more information about Night Edge Pictures, visit nightedgepictures.com or follow @nightedgepictures on Facebook, Instagram and Twitter.

Flash floods kill over 500 people in PakistanAn army doctor checks a woman at a makeshift hospital in the flood-affected Rajanpur district, in the Punjab province of Pakistan, on Tuesday. (Photo: AFP)ISLAMABAD: Flash floods caused by abnormally heavy monsoon rains killed at least 549 people in Pakistan over the past month, with remote communities in the impoverished southwestern province of Balochistan among the worst hit, a government agency said. Aside from the fatalities, the flooding had damaged more than 46,200 houses, the National Disaster Management Authority (NDMA) said on Friday. The past month was the wettest in three decades, with 133% more rain than the average for the past 30 years, the NDMA said. Balochistan, which borders Iran and Afghanistan, received 305% more rain than the annual average, the disaster agency said.

The company aims to play a leading role in steering the country towards the global mega-trend of being environmentally friendly. The disclosure at Thursday's online press conference also comes at a time when the company is preparing to list on the Stock Exchange of Thailand and launch its first initial public offering (IPO) next week. The firm's earnings at present are derived from three biomass power generation plants in Surat Thani province. To generate electricity, the plants burned agricultural waste such as palm leaves and wood chips from rubber farms. The biomass power plants have a total capacity of 29.7 megawatts.

The Ministry of Digital Economy and the National Cyber Security Agency has jointly signed a Memorandum of Understanding (MoU) on cybersecurity cooperation with Huawei Technologies (Thailand) Co., Ltd., the leading global ICT infrastructure and IT solutions provider. Chaiwut Thanakamanusorn, Minister of Digital Economy and Society (MDES), spoke on Thailand's current cybersecurity situation and the cooperation with Huawei: "As data breaches and cyberattacks get increasingly more sophisticated and frequent, gaps in knowledge and cyber skills are impacting organizations more acutely than ever before. That is why the MDES is collaborating with Huawei, a leading digital innovator, to address this challenge by sharing their knowledge on cybersecurity and best practices across industries in order to upskill overall digital capabilities and offer improved educational resources. This collaboration will further encourage public and private organizations to adopt and implement key principles, with the aim of laying a robust talent foundation for Thailand, helping drive Thailand towards a safe and secure digital future."

"We still need to closely monitor whether the tensions will intensify, but each party is believed to see the serious impact to the world's economy from the ongoing Russia-Ukraine crisis," he said. He added that the tensions may prompt Taiwanese firms to relocate their electronics production bases to other countries to stave off risks. GOOD AND BAD EFFECTSThough Thailand may gain some economic benefits from the China-Taiwan crisis, the problem may worsen the ongoing global shortage of semiconductors, said Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI). He echoed the belief that the tensions may also benefit Thailand's exports of agricultural products and food to China. Beijing has decided to ban the import of some fruits and fish products from Taiwan, according to media reports.

PTTEP to bid for new licences in the GulfThe Erawan gas field in the Gulf of Thailand. PTT Exploration and Production Plc (PTTEP) is preparing to join a new auction for petroleum exploration and production licences in the Gulf of Thailand, part of the government's efforts to increase the domestic gas supply. The licences, to be granted under the 24th round of auctions covering three offshore areas, does not include the Erawan and Bongkot gas blocks, currently operated by PTTEP. The largest portion of the money will go to ongoing development of oil and gas production projects across Asia and the Middle East. In another development, PTTEP is investigating a leakage at an onshore gas pipeline from the Zawtika gas field in Myanmar.

Zipmex had announced that its clients who deposited coins in partner Zipmex Global’s ZipUp+ saw their deposits frozen because Zipmex Global lost the coins to two crypto lenders that were hit by losses. But Zipmex Thailand said it would gradually return the coins to its clients once it received fresh funds. BAY pointed out that the investment in Zipmex Thailand constituted only 3 per cent of all investments by Krungsri Finnovate. As of June 30, the value of Krungsri Finnovate’s investment in Zipmex Thailand was a mere 0.0028 per cent of BAY’s total assets, the bank added.

Half budget approved for 2 US F-35 fightersThe House committee vetting the 2023 budget bill on Wednesday approved 369 million baht out of 738 million baht sought by the Royal Thai Air Force (RTAF) for its planned purchase of two F-35A fighter jets from the US. The air force lodged an appeal but agreed to have the budget slashed by 50%. "If the US Congress doesn't approve the sale, the air force will return the sum to the state coffers," said ACM Napadej. The House committee voted 45:22 with one abstention to approve 369 million baht for the scheme which would cost about 7.4 billion baht with funds to be allocated over the next four fiscal years. Pheu Thai Party MP Yuttapong Charasathien said minority members would raise their objection to the fighter jet purchase programme again during the second and third readings of the budget bill.