SET to launch digital asset exchangeAn investor explores investment options with the SET. (Photo: Somchai Poomlard)The Stock Exchange of Thailand (SET) is launching Thai Digital Exchange (TDX), its own bourse for digital assets, in the third quarter of next year with asset-backed investment tokens as the first product. The SET is applying for a digital exchange licence from the Securities and Exchange Commission. He said the SET is not the first traditional stock exchange to be interested in launching its own digital assets. Many global exchanges have begun experimenting with the same model, such as the Swiss bourse that won regulatory approval to launch SIX Digital Exchange (SDX) in September.

New firm registration to rise 14%The Commerce Ministry is upbeat about new business registrations this year, driven by e-commerce, herbal businesses, delivery services, and businesses related to computers as consumers change their behaviour and more people work from home. Sorada Lertharpachit, deputy director-general of the Business Development Department, said new business registrations this year are expected to grow by 13.7% to 72,000, outstripping the 63,340 last year and the department target of 65,000 to 70,000 for this year. The department reported yesterday new business registrations rose 15% year-on-year in the first 11 months this year to 69,253, with combined registered capital worth 212 billion baht, up by 2%. Some 13,617 firms ceased operation, down by 9% year-on-year, with a combined registered capital of 362 billion baht, up 382%. In November, new business registration rose 26% year-on-year to 5,642, with registered capital worth 17 billion baht, up 9%.

Virus beats weak systemThe latest news about the police frantically searching for a tourist who evaded Covid-19 regulations is deeply worrying, but hardly a surprise. What is unsettling is the system our authorities depend on to track and trace groups that pose a high risk of having or spreading Covid. More worrying still is whether the authority has any plan or system to trace high-risk groups at all. The system is handled by the ministry so that medical officials can keep track of people's movements across Thailand. It is shocking that after two years of living with Covid, the government has still not established a well-tested system to trace and track high-risk Covid groups.

GDP growth of 4% still possible next year despite Omicron - FinMinThailand's economy should still be able to achieve growth of 4% next year, despite uncertainty over the spread of the Omicron coronavirus variant, the finance minister said on Thursday. We'll have to wait and see," Mr Arkhom told reporters later on Thursday, adding the government was still supporting economic activity. The economy remains in the recovery phase, and growth of "4% is still possible" in 2022, also helped by investment in an eastern economic zone and increased exports, he said. "It's not yet known whether the Omicron impact will be as severe as expected by the central bank," Arkhom said. On Wednesday, the Bank of Thailand cut its 2022 economic growth forecast to 3.4% from 3.9%, citing Omicron as a key risk to the growth outlook.

China cements rare-earths dominance with new global giantReutersNEW YORK: China has approved a merger of key rare-earths companies, creating a behemoth that will strengthen its control over the global sector it has dominated for decades. The entity will be formed through merging rare-earth units of government-owned companies including China Minmetals Corp, Aluminum Corp of China and Ganzhou Rare Earth Group Co, according to a stock exchange filing from China Minmetals Rare Earth Co. The government also controls production, granting annual quotas to the firms. Rare earth prices have surged this year as demand outpaced supply, while a power shortage exacerbated disruptions and a broad rally in commodity prices increased production costs. Neodymium and praseodymium -- two elements used in permanent magnets -- have surged to the highest in a decade.

'High heels mob' wants wage relief from stateA group of night entertainment workers led by the Empower Foundation protest outside Government House on Wednesday. The workers, led by the Empower Foundation, said their sector has suffered from lockdown measures, but no relief measures have been provided. Further, they said they were not included in any government Covid-19 relief measures, even after they pleaded for help. "However, there are no government relief measures, as most of the workers are not insured under the social security scheme," Ms Thanta said. Those who are eligible for funds have to be Thai nationals working in nightspots who are already insured under the Social Security Act.

Entry via the Phuket airport through the sandbox programme is another option, requiring at least a seven-day stay on the island. Of those numbers, 156,807 were approved via Test & Go applications, while sandbox and quarantine travellers were 21,646 and 4,125, respectively. The CCSA decision to allow Phuket to continue as a sandbox destination delighted tourism operators in the province as they can have direct flights as usual. He said tourism operators acknowledged the recent CCSA measures are necessary, even though they might receive fewer travellers. Tourism operators also agreed to follow government advice, particularly regarding New Year events, as more people are concerned about the new variant.

Palang Pracharath Party MP Sira Jenjaka in parliament during the censure debate on Feb 19, 2021. (Photo: Pornprom Satrabhaya)Government MP Sira Jenjaka, Palang Pracharath member for Bangkok's constituency 4, lost his seat when the Constitutional Court on Wednesday ruled him unsuited for the House of Representatives because he had been convicted of fraud in a criminal case. The court accepted the petition for consideration under Section 88 of the constitution, but rejected a request at the time to suspend Mr Sira from the House. The petition said Mr Sira was convicted of fraud by Pathumwan District Court in 1995. On Wednesday, the court ruled that Mr Sira was unqualified to serve as an MP, citing Section 98 (10) of the constitution which prohibits a person convicted in a criminal case from standing for election to the House of Representatives.

HO CHI MINH CITY: When billionaire singer Rihanna posed for an ad campaign by luxury shoemaker Manolo Blahnik, she also made a star out of the little-known Vietnamese designer who made the oversized white shirt she posed in. Designs by a Vietnamese designer, all Vietnamese production, being chosen and worn by Hollywood stars," he told AFP from his glamourous "Cong Tri" boutique in Ho Chi Minh City. He said: "It won't be too far in the future that Vietnam can stake its claim on the world fashion map." "When they were at home, they worked in the rice fields, taking care of their families," he said of the soldiers. Tran Hung, also based in Ho Chi Minh City, has shown off his designs at London Fashion Week, while rising star Tran Phuong My made her New York Fashion Week debut in 2019.

Pop superstar Beyonce and her rapper husband Jay-Z both made the shortlist for the best original song Oscar. LOS ANGELES: Beyonce, Jay-Z and Ariane Grande are all in the running for the best original song Oscar, but French shock-fest "Titane" did not make the shortlist for best foreign film, as the Academy unveiled its annual shortlists Tuesday ahead of the formal nominations. Fifteen contenders were unveiled for the international feature film Academy Award, from among 92 eligible movies. Denmark, which won the foreign film Oscar last year for "Another Round," again has a strong contender in the form of "Flee," which chronicles a gay Afghan refugee's perilous journey to Europe. The animated film was also included in the shortlist for best documentary, which was also unveiled Tuesday.

New court to deal with online fraudThe Office of the Judicial Administration Commission (OJAC) has established an online shopping division to cope with the rising numbers of online fraud cases. According to Digital Economy and Society figures, its hotline received about 2,000 complaints from consumers that related to online fraud each month. The popular channels of online scams are through Facebook and Instagram. To assist victims of online fraud and to protect the rights of consumers, the civil court said it needed to have an online shopping division to handle the glut of scams. Cases that are now pending in the consumer court when the online shopping court division is launched will not be moved into the new jurisdiction.

Govt to spend B35bn on Covid vaccinesA budget of 35 billion baht will be spent on purchasing 90 million doses of Pfizer and AstraZeneca vaccines, according deputy government spokeswoman Rachada Dhnadirek. A total of 35.06 billion baht will finance the vaccine purchase. It forms part of the 35.9 billion baht fund approved by the cabinet at its weekly meeting on Tuesday. The 35.9 billion baht fund will be tapped from the Covid-19 relief loan procured by the government under an executive decree. Of the planned vaccine orders, 30 million doses will be bought from Pfizer and 60 million doses from AstraZeneca, which make up the majority of vaccines available in Thailand.

Over 3 million jobs have been lost in the hospitality & tourism sector in Thailand since the outbreak of Covid-19 in March 2019. Recovery appears to be on the horizon for Thailand’s hospitality & tourism industry. Assuming virus recurrence, slow long-term growth, muted world recovery, and minimal changes to global tourism strategies, Thailand’s hospitality & tourism sector could potentially recover to pre-Covid levels by 2024. However, the US and UK they are having a large crisis finding people to re-enter the hospitality industry after the Covid pandemic. Meanwhile, the UK's hospitality industry is experiencing rising worker shortages, with job vacancies at their highest levels since records began.

Rumours of a change to the 'Test & Go' scheme have tourism operators concerned. (Photo: Varuth Hirunyatheb)Tourism operators are crying foul over a proposal to scrap the "Test & Go" scheme, as an immediate change would affect the international market during the high season. "Thai tourism operators don't want to start over again with a mandatory quarantine," said Marisa Sukosol Nunbhakdi, president of the Thai Hotels Association (THA). "Phuket is really confident about the safety of the entry process we set for the sandbox programme in July. However, if the country maintains the sandbox programme, the impact will not be as critical as quarantine measures.

"There will be no new approvals for the arrival schemes until the situation is reviewed on Jan 4," Gen Prayut said. With the suspension of Test & Go and Sandbox entry options, quarantine would be fully restored for arrivals, he said. The Test & Go entry scheme applies to visitors from specific countries, while the Sandbox scheme is open to all visitors from abroad. Dr Kiatiphum Wongrachit, permanent secretary for public health, said new registration for all Test & Go and Sandbox entries, except the Phuket Sandbox scheme, would be suspended from Dec 21 to Jan 4. Dr Kiatiphum said that the last group of previously approved arrivals via Test & Go and Sandbox would arrive on Jan 10.