Hoteliers want 90% tax cut extendedA staff member cleans the pool at a Bangkok hotel. The hotel industry is facing a slowdown because of the temporary suspension of the Test & Go scheme. AFPHoteliers are urging the government to extend the 90% reduction of the land and buildings tax for another two years or collect a new levy of 20-30% instead as the tourism industry is far from recovering. To cushion the impact of the pandemic in June 2020 the cabinet offered a cut of 90% on the land and buildings tax. Their financial woes mean hoteliers are not prepared to pay the full rate of the tax this year or next year, said Mrs Marisa.

PTC readies IPO amid rail expansion planMr Weerawat expects the company's initial public offering and share trading to begin during the first quarter this year. Premier Tank Corporation Plc (PTC) is preparing to be the first fuel tank storage provider in Thailand to raise funds on the Market for Alternative Investment (MAI). The rail transport extension project is expected to require a budget of 110-120 million baht. Its total revenue in the three years from 2018 to 2020 stood at 162 million baht, 176 million and 253 million respectively, with net profit recorded at 75 million baht, 54 million and 111 million respectively, according to the company. Revenue in the first nine months of last year dropped by 11% to 166 million baht from the same period in 2020.

Egypt make Cup of Nations last 16 as six teams advanceMohamed Salah (centre) celebrates after Egypt scored against SudanYAOUNDE: Seven-time champions Egypt clinched a place in the Africa Cup of Nations last 16 on Wednesday by defeating neighbours Sudan 1-0, a result which sent five other countries including Ivory Coast through as well. Mohamed Abdelmonem's header at a corner 10 minutes before half-time in Yaounde sent the Pharaohs through and eliminated Sudan, and also saw Ivory Coast, Mali, Gambia, Malawi and Cape Verde qualify without kicking a ball. "I think Egypt deserved to win this game without any doubt given the opportunities we created and the football we played," said Egypt coach Carlos Queiroz. Ivory Coast lead Group E with four points and can finish no lower than third regardless of their result Thursday against reigning champions Algeria. The Carthage Eagles, the 2004 winners, will qualify for the last 16 unless they suffer a defeat by six goals or more.

Finance Minister Hong Nam-ki also stressed the need to run the economic policy in a delicate manner in a bid to pursue the harmonized operation with the monetary policy. "The South Korean economy faces complicated conditions at home and abroad that could constrain its growth," Hong said at a government meeting on the economy. He cited virus situations, external economic risks and fiscal conditions as major factors that could weigh on the economic growth. The minister raised the need to meet many policy goals via a "policy mix" under which the government supports vulnerable people while the central bank tightens monetary policy. The finance ministry plans to propose an extra budget of some 14 trillion won ($11.8 billion) to support pandemic-hit small merchants.

The indulgent desserts of Smile Menu are Orange marmalade cake, Lemon poppy seed cake, Thai style fried banana cake and Chocolate tahini brownie. The desserts will be available on all domestic and international routes (except WE419/420) from December 25, 2019 to January 1, 2020, or until the patisseries run out.

Digital lenders focusing on risk controlDigital loan providers are emphasising risk control because of economic uncertainties, the continued outbreak and tougher competition from new players. Monix Co Ltd, a digital loan provider under Siam Commercial Bank (SCB), also plans to expand prudently, balancing loan growth and asset quality. Krungthai Bank (KTB) has been testing digital loan service through its mobile banking app, Krungthai Next. KTB offered the digital loans to all segments of Pao Tang and Tung Ngern users as a pilot project. Given the new service and client base, the bank plans to gradually explore the market using strong risk control, said Krairit Euchukanonchai, KTB vice-chairman.

Binance entry set to change industryGulf Energy Development teams up with Binance to study a digital asset exchange in Thailand. (Photo captured from Gulf Energy Development Plc website)Binance's entry into the Thai digital asset industry should increase competition, decrease trading fees and encourage productivity and improvements in service quality, according to leading market participants. Once it gains 30-40% of the market share in each industry, it looks to invest in other businesses, he said. With cooperation from Binance, Gulf has a chance of becoming the largest player in the Thai digital asset industry as well, he said. According to CoinGecko.com, Binance ranked first among 500 cryptocurrency trading platforms in terms of trading volume at US$13.9 billion per day.

DSI submits extra info on 'Billy' casePinnapa Prueksapan and DSI chief Triyarith Temahivong discuss the probe into the disappearance of her husband, Porlajee 'Billy' Rakchongcharoen, at the DSI headquarters in Bangkok on Tuesday. (Photo: Apichit Jinakul)The Department of Special Investigation (DSI) has submitted additional information relating to the disappearance of Karen rights activist Porlajee "Billy" Rakchongcharoen to the Office of the Attorney-General (OAG), which the office needs for further legal action. DSI director-general Triyarith Temahivong said investigators have questioned seven witnesses about four issues as requested by prosecutors, in addition to questioning more forensic experts and examining all evidence related to the case. "The DSI will deliver justice to Porlajee's family," said Mr Triyarith. Surapong Kongchantuk, president of the Cross-Cultural Foundation, said that on Sept 9 last year, the OAG asked the DSI to provide more information.

Public Health Minister Anutin Charnvirakul presides over an event to promote Thai cannabis at the Department of Medical Sciences in Nonthaburi province in June last year. (Photo: Pattarapong Chatpattarasill)The Public Health Ministry will on Wednesday propose to totally delist cannabis from the narcotics list, paving the way for households to grow the plant legally. The revised narcotic list will take effect after he endorses it. Mr Anutin said the Public Health Ministry has done its part and the revised list is in accordance with the new Narcotics Code which took effect in December last year. The party has been criticised for failing to live up to its promise despite overseeing the Public Health Ministry for three years.

Thai-Chinese joint venture SAIC Motor-CP, the manufacturer and distributor of MG cars, plans to spend 2.5 billion baht developing a factory to produce batteries for battery electric vehicles (BEVs) and start making BEVs domestically next year. "The EV industry is growing faster as new Chinese automakers launch more EVs to meet global demand," he said. SAIC, or Shanghai Automotive Industry Corporation, has invested 10 billion baht in Thailand since 2013. The government is promoting the EV industry as part of its plan to reduce carbon dioxide emissions and cope with harmful levels of PM2.5 ultra-fine dust emitted from ageing oil-powered cars. The National EV Policy Committee announced in March last year a goal to have EVs constitute 50% of locally made vehicles by 2030, part of a plan to make the country a regional EV production hub.

So, while the third wave seems to have achieved its peak in Mumbai, if other districts also implement strict measures to control the virus spread, the national peak may come within 2-3 weeks after the Mumbai peak, the report said. It added that the share of vacant beds has seen an increase at all major centres, indicating India is much well-prepared to tackle the ongoing wave. In Mumbai, case share is maximum in the 30-39 age group, while death count is maximum in the 60-69 age bracket. Active beds to total capacity have also come down from the second wave, the report said.

Govt to lower Covid alert, ease curbs as infections slowTwo boats pass each other on the Chao Phraya River in front of the Bangkok skyline on Monday. (AFP photo)The government will lower the Covid-19 alert level and is considering easing more restrictions to boost the economy, the health minister said on Tuesday, in response to a slower infection rate. Among measures being considered are establishing more "sandbox" areas for tourists, who can skip quarantine if they stay in specified areas for seven days and undergo two Covid-19 tests. Public Health Minister Anutin Charnvirakul told reporters new sandbox areas could include Chiang Mai, Chonburi, Khon Kaen and Samut Prakan provinces. Mr Anutin added that the 'Test and Go' scheme that allows free movement to tourists who pass one Covid test on arrival could be revived as soon as February.

The volcano near Tonga in the Pacific Ocean exploded with huge amounts of gas and steam blasting into the air and having a widespread impact. The impact of the eruption was measured in foreign and local weather stations at the following Thai time:3.42pm: Australia, Springbrook Research Observatory7.50pm: Songkhla, regional observatory7.59pm: Nakhon Ratchasima, regional observatory8.01pm: Chachoengsao, regional observatory8.25pm: Chiang Mai, Princess Sirindhorn AstroPark8.28pm: Chiang Mai, Thai National Observatory on Doi Inthanon8.42pm: China, Gao Mei Gu Astronomical observatoryNARIT said this information can be used to determine the impact of the eruption and a similar system can be used for other natural phenomena, such as working out the impact of an asteroid. More details can be found at http://weather.narit.or.th/

Property developers want tax reductions to be extendedAn aerial view of buildings in Bangkok from Baiyoke Sky Hotel. (Photo: Arnun Chonmahatrakool)Real estate developers are calling for an extension of the 90% reduction in the rate of the land and building tax as the impact on the sector remains severe. "Many people misunderstood that maintaining the land and building tax rates was about a 90% reduction which the government previously offered in 2020. But actually, it means maintaining the rates for tax calculation which ranged from 0.01-0.7%," he said. Mr Issara also suggested the establishment of a committee to review the structure of the land and building tax as the current scheme is unreasonable, impractical and still avoidable if there is good tax planning.

(Reuters photo)The Tourism and Sports Ministry will reduce the budget for the "Tour Teaw Thai" tour package subsidy programme, while slashing the scheme's projected tour packages from a million to 200,000 amid weak demand. As of Jan 17, only 27,277 tour packages had been sold, with 1,972 tour programmes offered on the scheme's website. Some 18,650 tourists had travelled with the scheme since Tour Teaw Thai opened for registration on Oct 8 last year. Thus, the ministry and the National Economic and Social Development Council have discussed returning the Tour Teaw Thai's 4-billion-baht budget and reducing the number of tour packages to 200,000. Mr Thanapol added that the government should promote Tour Teaw Thai to create more recognition among Thais and encourage them to join the scheme.