With one billion people worldwide – and 78 per cent of Thais – connecting with a business account across Meta’s messaging services every week, it said the volume of daily conversations between people and businesses grew 50 per cent year on year. “Even before the beginning of the pandemic, we have seen businesses in Thailand and the region leading the way when it comes to business messaging," said Ankur Prasad, director of business messaging for Facebook and Instagram, Meta. "In fact, a lot of the features we have built are inspired by how businesses in Asia Pacific are using our platforms to find and connect with customers in a personal, timely, and relevant way." He added that the company will continue to invest in features that create seamless discovery and messaging experiences for Thai business and consumers to meaningfully connect.

Cobra Gold military drills back to full scale next yearUnited States Secretary of Defence Lloyd Austin and Prime Minister and Defence Minister Prayut Chan-o-cha walk past an honour guard before their meeting at the Defence Ministry on Monday. (Photo: Apichart Jinakul)The US-Thai Cobra Gold military exercise will be held as a full-scale drill next year after it was scaled back due to the pandemic, said Defence Ministry spokesman Gen Kongcheep Tantravanich on Monday. Gen Kongcheep also disclosed the outcome of the talks between US Defence Secretary Lloyd Austin and Prime Minister and Defence Minister Prayut Chan-o-cha on Monday. The prime minister also met Gen Austin in Washington, DC last month. Meanwhile, Gen Austin affirmed the US will constantly strengthen Thailand's military with technology, training, weapons and defence industry development, Gen Kongcheep said.

The country’s total caseload from Covid-19 stands at 4,488,497 – 4,436,684 of whom have recovered, 21,445 are still in hospitals and 30,368 have died. Separately, another 1,759 people were given their first Covid-19 shot in the last 24 hours, 2,742 their second shot and 10,849 a booster, bringing the total number of Covid-19 vaccine doses administered nationwide to 138,697,935.

The TAT is targeting a total of at least 7 million foreign arrivals this year but that figure could be boosted to 10 million with more budget for tourism promotion, he added. As such, the TAT would submit a request to the government’s Economic Situation Administration Centre for a budget of around 100 million baht. The focus of the budget would be joint marketing with airlines to increase flights to Thailand from Asia, Europe and Australia, he said. Total revenue from Thai and foreign tourists is projected at 1.5 trillion baht this year. The TAT expects that figure to rise to 2.4 trillion baht next year – 80 per cent of pre-Covid tourism revenue – with some 20 million foreign visitors.

Diesel price up again on TuesdayAn attendant refuels a pickup truck with diesel in Bangkok on June 6. (Photo: Varuth Hirunyatheb)The board of the Oil Fuel Fund has raised the price cap on standard diesel by one baht, from 33.94 baht to 34.94 baht per litre, effective on Tuesday morning. Director Wisak Wattanasap said Monday's weekly board meeting fixed the diesel price for the week June 14-21, based on the global oil price. Under government policy to give a 50% subsidy for diesel from April-June, the ceiling price of standard diesel is fixed at 35 baht per litre. There is no subsidy on premium diesel, which was 46.36 baht at the pump in Bangkok on Monday.

BoT: Rate rises will be gradualBank of Thailand Governor Sethaput Suthiwartnarueput (Reuters photo)The central bank governor said on Monday that delaying an interest rate hike too long would not be good as inflation continues to rise. But any hikes will be gradual as concerns remain about a recovery in the vital tourism sector, he said. Last week, the Monetary Policy Committee left its key rate unchanged at a record low of 0.5%. The BoT will next review policy in August, when economists expect a rate increase. A weak baht at five-year lows against the dollar has not accelerated inflation much, he said, adding the BoT would not be complacent and would closely monitor.

At this event, there were several blockchain specialists and special guests speakers to discuss blockchain technologyAt this event, Mr. Passakorn Pannok, CEO of Bitkub Blockchain Technology discussed Bitkub Chain’s ecosystem by starting with Bitkub Chain’s vision and mission which is to democratize opportunities for everyone to have real ownership without consent from any single entity. Moreover, Bitkub Chain has already completely supported several technical tools to enhance the efficiency of the blockchain network under the blockchain network protocol called “Proof-of-Staked-Authority (PoSA)” by supporting from 21 node validators after radical changes called “Erawan Hardfork”. Mr. Passakorn also discussed about Bitkub NEXT, a digital asset wallet together with Bitkub NFT, the primary non-fungible token (NFT) platform in Thailand. In addition, Bitkub Blockchain Technology along with Finstable and Prince of Songkla University together signed a memorandum of understanding (MOU) at Block on the Beach to strengthen the blockchain industry and provide financial knowledge to Thai educational institutions.

“In 2021, Huawei increased R&D investment to 142.7 billion yuan. In 2021, Huawei ranked fifth in terms of new grantings, totalling 20,000 patents in the United States. The number of patent applications by Huawei’s local R&D teams has been on the rise every year. The new Intellectual Property system should be anchored in innovation, from innovation to novation. The Intellectual Property system should assure that these creations get the merited protection because they are the ones that bring actual value.

The OFFO reported the Oil Fuel Fund is 91 billion baht in debt — 54 billion baht from subsidising diesel and 36.5 billion baht from subsidising LPG. The fund has around 11 baht billion of liquidity left and is seeking to borrow 30 billion baht to improve that position.

The five-year multiple-step-up bonds’ annual interest will increase from 2.50 per cent in the first two years to 3.00 per cent in the third and fourth years, and 3.50 per cent in the fifth year. The 10-year multiple-step-up bonds' annual interest will increase from 2.50 per cent in the first two years to 3.50 per cent from the third to sixth years, 4.00 per cent in the seventh and eighth years, and 4.50 per cent in the ninth and 10th years.

The government forecast fiscal 2023 net revenue of 2.49 trillion baht, up from an outlook of 2.4 trillion baht in fiscal 2022. Mr Pornchai said the Revenue Department, Customs Department and state enterprises all expect higher revenue next year, in line with the improving economy and growing trade. The government set next year's expenditure at 3.18 trillion baht, with a deficit of 695 billion baht. The Revenue Department's revenue collection in the period was 117 billion baht higher than its target, which offset the Excise Department's lower than expected collection. The Customs Department's revenue collection in the same period surpassed its target by 5%, or 2.92 billion baht, while state enterprises' revenue surpassed their target by 3%, or 2.68 billion baht.

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"Venezuela has shown exemplary resistance against sanctions and threats from enemies and Imperialists," Iran's Raisi said. "The 20-year cooperation document is testimony to the will of the two countries to develop ties in specific fields." Iran and Venezuela have expanded cooperation since 2020, particularly in energy projects and oil swaps. Defying U.S. pressures, Iran has sent several cargos of fuel to Venezuela and helped in refinery repairs. Last month, Venezuela began importing Iranian heavy crude, widening a swap agreement signed last year to exchange Iranian condensate for Venezuelan heavy crude.

Explainer: Everything you need to know about proposed ban on CBD products in Hong KongHong Kong authorities have proposed a ban on cannabis products. (South China Morning Post photo)HONG KONG: Hong Kong's law enforcement authorities have proposed outlawing CBD products this year, as cannabis-derived wellness items have gained popularity in the city recently. Most of the CBD products sold in Hong Kong are imported from overseas, including the United States, Britain and Europe. In the US, the federal legal limit for THC in CBD products is 0.3%. In Hong Kong, possession of a dangerous drug is punishable by imprisonment for up to seven years and a HK$1 million fine.

When police arrived, the bar was rocking, with stage music and some 195 patrons still drinking and dancing. Police found packets of drugs scattered on the floor, including 41 zip-lock bags of ketamine weighing 29 grams in total, 20 ecstasy pills and 12 zip-lock bags of “ice” or crystal methamphetamine weighing 13g in total. Of the patrons, 26 men and 57 women tested positive and three zip-lock bags of ketamine were found on two of them.