Eight more Chinese cities join scheme to allow solo travellers to visit territoryTourists take photos in front of Victoria Harbour in Hong Kong on April 29. (Photo: Reuters)HONG KONG - Eight more Chinese cities have joined a scheme allowing their residents to travel to Hong Kong on their own, rather than as part of a tour group, as part of efforts to boost Hong Kong’s economy. Fifty-one cities have already joined the programme and will be joined by Taiyuan in Shanxi, Hohhot in Inner Mongolia Autonomous Region, Harbin in Heilongjiang, Lhasa in Tibet Autonomous Region, Lanzhou in Gansu, Xining in Qinghai, Yinchuan in Ningxia Hui Autonomous Region and Urumqi in Xinjiang Uygur Autonomous Region. “These eight cities are all provincial capital cities with large populations, significant economic growth and high spending power,” said Hong Kong Chief Executive John Lee. The Hong Kong and Chinese governments have repeatedly said the security laws have brought stability.

Retailers promote AI-enabled PCs in the second halfA display of notebooks and PCs on sale at a recent edition of the Commart fair. Leading IT retail chains are capitalising on artificial intelligence (AI)-embedded PCs to increase sales growth in the second half of 2024. Meanwhile, Advice IT Infinite Plc is demonstrating to consumers how AI PCs differ from conventional units. "AI PCs are not for everyone, but we can demonstrate how AI-based PCs and regular PCs differ," said Mr Nath. The company is demonstrating how AI-based PCs can outperform regular PCs at booths and IT retail outlets, he said.

Ploughing ceremony predicts abundance, prosperityHis Majesty the King, accompanied by Her Majesty the Queen, presides over the Royal Ploughing Ceremony at Sanam Luang yesterday. (Photo: Royal Household Bureau)Abundant food and water, growth in foreign trade and a prosperous economy were predicted during the Royal Ploughing Ceremony at Sanam Luang in Bangkok yesterday morning. This year, the sacred oxen chose to feed on grass and water, reflecting the prediction of abundant water. This is interpreted as transportation being improved and better foreign trade, leading to a prosperous economy in 2024. Two sacred oxen feast on grass, water and liquor during the Royal Ploughing Ceremony, prompting a prophecy of abundant water and food as well as a prosperous economy.

PORCELA witnesses rising sales of eco-friendly tiles, in line with the sustainable development trend. The company continues to uplift the Thai real estate industry towards an innovative society following the Architect Expo 2024. This response has led to significant growth in the sales of eco-friendly tiles under the PORCELA brand. The popular eco-friendly and innovative tiles at the Architect Expo 2024 spanned various segments, including anti-slip tiles, anti-bacterial tiles, energy-saving tiles, and tiles made from natural material substitutes. Other popular tiles at the event included granito tiles, ceramic tiles, mosaic tiles, swimming pool tiles, and vinyl tiles.

The risk of default on credit card loans rose significantly in the first quarter this year in Thailand, driven by the Bank of Thailand (BoT)'s mandate for a higher minimum payment rate. Thailand faces credit card default risks (Photo:bangkokpost.com)Bangkok (VNA) – The risk of default on credit card loans rose significantly in the first quarter this year in Thailand, driven by the Bank of Thailand (BoT)'s mandate for a higher minimum payment rate. During the pandemic, the central bank temporarily reduced the minimum payment requirement to 5% to alleviate the debt burden on borrowers. Surapol affirmed that with the notable surge in SMs for credit card loans, there is mounting pressure for higher NPLs in the country’s economy. Concurrently, more young people are applying for credit cards over the past few yearsNCB data revealed roughly 36,000 new credit cards were issued in the last two years, with 23,000 held by millennials aged between 27 and 44.

Thai food exports expected to see 2% growth this yearPeople examine plant-based food at a previous edition of THAIFEX-Anuga Asia. Thailand expects to stimulate food export growth of 2% this year as it prepares for THAIFEX-Anuga Asia 2024, Asia's leading food and beverage trade show. Phusit Ratanakul Sereroengrit, director-general of the Department of International Trade Promotion (DITP), said the food industry is one of the most important sectors contributing to exports. In 2024, it is expected that food exports will increase by around 2%, worth $40.6 billion or more than 1.4 trillion baht. THAIFEX-Anuga Asia 2024 is scheduled to take place from May 28 to June 1 at Impact Muang Thong Thani.

TCP Group, the manufacturer and distributor of Krating Daeng (Red Bull), views the foreign market as having high growth potential as it monitors rising costs. "The energy drink market grew only 4-5% in the first quarter this year as a result of the stagnant economy," said Saravoot Yoovidhya, chief executive of TCP Group. He said the Thai energy drink market competed mainly on cost differentiation as many new brands were launched on the market. In contrast, the overseas energy drink market has seen a minimal price war compared to the domestic market. "Vietnam is considered one of the markets with high growth potential," Mr Saravoot said.

Pursuing an independent monetary policy is vital for the country’s economic stability as it prevents the misuse of monetary policy for short-term political goals while keeping inflation in check, the Economic Society of Thailand said in a statement. That sparked speculation that the ruling coalition may seek to amend the central bank law guaranteeing autonomy. He also maintains that the country’s economic problems are structural in nature and stimulus alone will not achieve much. “Politicians shouldn’t act to threaten or put pressure on the central bank independence in public,” Nipon Poapongsakorn, head of the group of economists and distinguished fellow at the Thailand Development Research Institute, said in the statement. The central bank has kept borrowing costs at a decade high 2.5% since September.

(Photo: Royal Thai Navy)A Chinese delegation, including military officials, will visit Thailand next Wednesday for a new round of negotiations in a bid to resolve a long overdue submarine purchase deal. Defence Minister Sutin Klungsang said on Wednesday there are only two options left to discuss during the negotiations with the delegation. The other option is China's proposal to substitute the initially required German-made submarine engine with a Chinese-made engine and ask for a better compensation deal. China Shipbuilding & Offshore International Co (CSOC), the contracted submarine maker, earlier offered to fit Chinese engines on the submarines. The RTN initially rejected this offer but later agreed to the change and wanted the submarine procurement to continue.

Truck hits clearance bar, causes traffic congestionDebris from a truck and a height clearance bar are scattered on Si Ayutthaya Road in Ratchathewi district, Bangkok, on Thursday. (Photos: Traffic Police Division)Traffic was nearly paralysed after a truck hit a height clearance bar at Phaya Thai intersection in Ratchathewi district of Bangkok on Thursday morning. Traffic police said the accident happened at 5.30am when a truck transporting tyres struck the bar situated in front of a flyover on Si Ayutthaya Road. The incident blocked two traffic lanes, and workers and police took several hours to clear the road. According to reports, the accident led to severe congestion spanning several kilometres from Phaya Thai intersection to Ramkhamhaeng Road.

Muay Thai coach Peter Denman, a former Thai-Brit TV actor who turned down 50 million baht to star in films in China, discusses his career change, the charm of boxing, his students and his charity punching challenge.

REUTERSThe row between the government and the Bank of Thailand (BoT) over its "high" interest rate is all over the news. Prime Minister Srettha Thavisin goes so far as to say that a "high" interest rate hinders economic development. Let me add that the US Fed's policy interest rate is 5.25%-5.5%; the UK's policy interest rate is 5.25%; and the EU's policy interest rate is 4.5%. By the way, the "high" interest policy rate in Türkiye at that time was 24.0%, not 2.5%. The public and even governments do not understand the job of a central bank and, more importantly, how a central bank manages the monetary system.

A Rio de Janeiro museum that was engulfed by fire has received a massive donation of fossils. Burkhard Pohl says the donation was to help the centuries-old museum rebuild its collection.

The government has been pushing the Bank of Thailand for months to cut interest rates. Even if the central bank cuts the rate, any reduction would be gradual and have a minimal impact on pumping up the economy, said Mr Kiatanantha. He said removal of the central bank governor could occur if his policies or mistakes caused a severe impact to the economy. BMI, a unit of New York-based Fitch Solutions, said rate cuts will do little to alleviate the current Thai economic issues. Amonthep Chawla, chief economist at CIMB Thai Bank, reiterated the importance of the central bank maintaining independence from political influence.

SpaceX CEO Elon Musk on Monday (May 6) said he sees great potential for artificial intelligence (AI) to enhance human civilization, but not when it comes to space travel.