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.

Worachat Luxkanalode, Executive Director of Grab Thailand, said, "Access to knowledge, education, and essential skill development are keys to the growth and betterment of our society. At the core of our GrabForGood mission, we strive to utilise technology to make a positive impact on people. Grab Thailand has started a number of initiatives to promote and support all partners in the ecosystem such as 'GrabAcademy' – to upskill and enhance knowledge of Grab driver- and merchant partners as well as 'Grab The Future' – to provide scholarships to the children of our partners. "To continue our commitment to creating a wider impact, this year we have launched GrabCampus – a new initiative aimed to support and enhance the potential of university students. The young generation is the main driving force in bettering our society and we are proud to be able to provide a platform and opportunity for them to showcase their talent, get hands-on experience with the team of professionals, and guide them on how to cultivate shared values when conducting business in the society."

MNRE plans to defend park chiefChaiwat: Glad for grace periodThe Ministry of Natural Resources and Environment (MNRE) plans to appeal a court decision to remove the former chief of Kaeng Krachan National Park from his post due to the forceful removal of Karen villagers a decade ago. But MNRE permanent secretary Jatuporn Buruspat said the Phetchaburi Provincial Court gave Mr Chaiwat a stay of execution on July 27. Mr Chaiwat said he was glad to have been granted the grace period. The court also ruled that his offence was related to an alleged dispute against the Karen villagers in the park, rather than being a case of corruption. The Public Sector Anti-Corruption Commission (PACC) had recommended the MNRE dismiss Mr Chaiwat and five other park officials due to the burning of about 100 Karen residential homes there in 2011.

Trairat said the NBTC on Wednesday considered the request for the merger by the second and third-largest mobile phone operators in terms of number of customers. He said the five commissioners on Wednesday considered five categories of information:- Studies by four subcommittees on the merger deal- Results of public hearings of three focus groups- A report on possible economic impact from the merger from the NBTC Office- A study by Chulalongkorn University on the impact of the merger- Opinion from an independent adviser, Finansa Securities Ltd.

Andrew Naylor, regional CEO, Asia Pacific (ex-China) of the council, said during an online press conference on Wednesday morning that due to the economic slowdown and uncertainty factors, gold remains a preferable alternative for Thai people. He said consumer demand for gold during the second quarter this year had already increased 14 per cent, from 7.5 tons in the same quarter last year to 8.5 tons this year. The council pointed out that the demand was supported by a 10 per cent year-on-year increase in demand for jewellery from 1.7 tons in the second quarter of 2021 to 1.9 tons in the second quarter of this year and a 15 per cent year-on-year increase in bar and coin demand. Jewellery consumption has been supported by the economic recovery, emergence from Covid restrictions and a rebound in tourism. “This is the sixth consecutive quarter that we’ve seen a year-on-year rise in jewellery consumption in Thailand, owing to lower gold prices as well as higher safe-haven demand for gold amid a weaker local currency and inflationary concerns," Naylor saidHowever, global jewellery fabrication outperformed consumption as demand remains well below pre-pandemic levels, he added.

NHSO secretary-general Jadet Thammathataree said Covid patients have been allowed to request antiviral drugs via the office’s 1330 call centre since July 23. The NHSO delivered Favipiravir to 1,941 eligible patients from July 23 to 30, he said. “However, the NHSO had failed to deliver antiviral drugs to 25 patients because their houses or companies were closed, officials failed to contact recipients or the recipients refused to take delivery,” Jadet said.

Arbitral tribunal delays rulingChatree, a gold mine previously operated by Akara Resources Plc in Phichit province. (Photo: Sitthipoj Kebui)The international arbitral tribunal has postponed till Dec 31 its decision on a dispute between the government and Australia's Kingsgate Consolidated Ltd over the Chatree gold mines, during which time negotiations between the two parties are expected to have wrapped up. "Considering all these developments, the mines are expected to restart between late this year and early next year,'' the source added. The company has demanded 30 billion baht in compensation. The tribunal completed its arbitration hearings on Feb 12, 2020, but has yet to make its decision known while urging both parties to negotiate.

PTT sells coal business to Indonesia's Astrindo for $471mThe Sebuku coal mine operated by PTT Mining in Indonesia. (Photo: PTT)State-owned energy firm PTT Plc said on Tuesday it had agreed to sell its coal unit to Indonesia's PT Astrindo Nusantara Infrastruktur Tbk for $471 million, as the company moves out of the coal business entirely. The announcement came as global coal demand is set to match a record high reached nearly a decade ago. Astrindo said the deal, which includes coal concessions in Brunei Darussalam, Madagascar and three mines in Kalimantan, Indonesia, will have a "substantial" impact for the company. "Our financial performance in 2022 will show a significant jump given the current price of coal," Astrindo Director Michael Wong said.

Hence, the company has isolated the pipe and temporarily suspended the delivery of gas to Thailand from the Zawtika field. Initial investigation shows little or no possibility of an explosion or fire, PTTEP said. Meanwhile, PTTEPI is investigating the cause of the leak and expects to have it repaired within two weeks. The Zawtika Project in Myanmar can produce up to 300 million cubic feet of gas daily, 80 per cent of which is transported to Thailand and the remainder to Myanmar.

Nok Air captain needs to 'defend' decision after crashThe captain of a Nok Air aircraft that slid off the runway at Chiang Rai airport will be summoned by regulators to explain why passengers were kept on board for about an hour after the accident. "The rationale behind the decision is what the CAAT needs to hear from the captain," Mr Suttipong told the Inside Thailand news programme. The captain turned off the engines of the 737-800 Boeing aircraft after the accident, leaving the passenger cabin in darkness and without air conditioning. "The captain is the one who makes the decision on evacuation after assessing the situation, including external factors," Mr Suttipong said. The CAAT chief also said passengers were allowed to stand on runways in case of emergency, although they were off limits in normal circumstances.

He said the market is being cautious and may pressure the baht to weaken, especially if foreign investors sell Thai stocks for profits. However, the baht will not weaken much as there are no factors strengthening the dollar. Moreover, the baht is supported by gold-selling transactions. In the short term, the baht’s key support level is at 36 to the dollar as some importers and Japanese multinational corporations bought the dollar and Japanese yen recently. Meanwhile, most exporters are waiting to sell the dollar at 36.40, the baht’s resistance level.

First vaccine batch due later this monthThailand's first batch of 1,000 monkeypox vaccine doses is expected to arrive later this month, but the authorities have yet to decide who should get them first, according to the Department of Disease Control (DDC). "It should be provided to bisexual men or people living with low immunity." "We are not sure if [bisexual men] will come to get the vaccine." The department's academic committee will make the final decision on who should get the vaccine first, he said. The vaccine is not necessary for everyone because the side effects can be severe, he said.

Prawit's close aide now leads another small partyGen Wit Devhastin na Ayudhya, right, at the special general meeting of the Thailand Together Party at Rama Gardens Hotel in Bangkok on Monday, when he was elected party leader. (Photo: Pattarapong Chatpattarasill)Gen Wit Devahastin na Ayudhya on Monday became the leader of a small party now renamed the Thailand Together Party. The party, formerly known as the Thai Nation Power Party, held a special general meeting at Rama Gardens Hotel on Monday. He had to return to politics because he had to find a new party for the politicians who followed him out of the Setthakij Thai Party. Gen Wit was considered a close aide of Deputy Prime Minister and PPRP leader Prawit Wongsuwan and was forced to resign as the leader of Setthakij Thai.

Pilot must explain why passengers were kept aboard damaged planeRescuers and medics help passengers leave the crashed Nok Air plane after it slid off the runway at Mae Fah Luang international airport in Chiang Rai on Saturday. Under international aviation protocols, all passengers must be evacuated from the aircraft within 90 seconds of a serious incident, according to the CAAT chief. But the evacuation rules were also flexible, depending on the circumstances and safety of the passengers and aircraft, he said. The CAAT chief also said passengers were allowed to stand on runways in case of emergency, although they were off limits in normal circumstances. Mr Suttipong said the aviation regulator would not be quick to blame the chief pilot for the slow evacuation that kept most passengers inside the aircraft without sufficient air to breathe.