SEC proposes tighter rules for digital asset businessesThe Securities and Exchange Commission yesterday began a public hearing to seek public comments on the proposed amendments to the regulations on the custody of clients' assets by digital asset business operators. The SEC began a public hearing on Wednesday to seek public comments on the proposed amendments to the regulations on the custody of clients' assets by digital asset business operators. The new rules will require digital asset businesses to deposit the client's fiat money with commercial banks or other banks established by specific laws and clearly stated in the deposit account that it is operated by digital asset operators for the benefit of clients only. In this regard, digital asset business operators and the clients may agree on an interest rate not exceeding the actual rate the business operators receive from the commercial bank. In the case of digital assets, seeking benefits for clients will also be prohibited, including in the form of digital asset lending to other persons.

eBay reveals trends in online commerceCaption caption. This has pushed up the exponential growth of the global e-commerce market," said Rinlita Srirojpinyo, head of marketing of eBay Thailand, during the event. She said the company has become aware of three trends in online retail commerce. They are willing to pay higher prices for express delivery, compared with before the pandemic when they focussed more on low-cost delivery. This year, eBay will attach more importance to customer services, product category expansion and eBay Managed Payment (MP), she said.

Zen to expand through more acquisitionsZen Corporation Plc, the operator of Zen and Tummour restaurant chains, vows to continue acquiring food and food-related businesses and expand its street food models to balance business risk. "We are still focussing on the street food business because it is not affected by the pandemic. According to Mr Boonyong, due to street food stores being located outside malls, it is a perfect model that has good sales be it dine-in, delivery or takeaway. Zen reported total revenues of 1.11 billion baht in the first half of the year, up by 14% over the same period last year. However, it posted a net loss of 38.6 million baht for the first half, improving on a 125 million baht net loss in the same period last year.

Project a boon for high techMr Suriya co-chaired the Thailand-Guangdong High-Level Cooperation Conference to promote high-tech industries in the EEC area. Thai and Chinese authorities have agreed to launch the Thailand-Guangdong cooperation project to promote high-tech industries, including electric vehicles (EVs), as well as the green economy in the Eastern Economic Corridor (EEC) area. The project, which also covers digital and 5G wireless technology, healthcare and smart city development, is expected to boost investment and take Thai industries to the next level. "It is a collaboration between EEC and China's Greater Bay Area [GBA] which includes Guangdong, Hong Kong and Macao," said Industry Minister Suriya Jungrungreangkit. Third is a connection between laws to reduce trade and investment obstacles, notably non-tariff barriers, between the two countries.

Osaka defends US Open crown with Barty leading top rivalsJapan's Naomi Osaka hopes to celebrate her third title in four attempts at this year's US Open, which starts Monday in New York. NEW YORK: Defending champion Naomi Osaka seeks her third US Open title in four tries as the year's final Grand Slam begins Monday with top-ranked Wimbledon winner Ashleigh Barty leading a host of rivals. Osaka pulled out of the French Open after being fined for not talking to reporters after her first match, saying it hurt her mental health. Barty won her first major title at the 2019 French Open and her second trophy in London put her halfway to a career Grand Slam. Williams, who turns 40 next month, remains one shy of Margaret Court's all-time record of 24 Grand Slam singles titles.

Investment in Tidlor to benefit MSMEsMr Piyasak says the investment by IFC will allow Tidlor to improve its balance sheet. The International Finance Corporation (IFC) has invested up to US$100 million in Ngern Tid Lor Plc (Tidlor), a Thai non-banking financial institution (NBFI). The financing package will allow Tidlor to increase its lending to micro, small, and medium enterprises (MSMEs) in the country. Yet, even before Covid-19, MSMEs in Thailand had an estimated financing gap of $41 billion, accounting for 10.3% of the country's GDP. "In the face of an ongoing crisis, IFC's investment will allow Tidlor -- an affiliate of Bank of Ayudhya -- to strengthen our balance sheet as we execute on our strategy to promote financial inclusion with a digital- and data-driven approach," said Piyasak Ukritnukun, managing director of Tidlor.

Some sectors boosted by digitalisationAs the pandemic has driven businesses in many industries to accelerate digitalisation, the most attractive investment trends for the post-pandemic era are innovation, technology, digital health, smart logistics and environmental social governance (ESG), Pakorn Peetathawatchai, Stock Exchange of Thailand (SET) president, said at the Thailand Focus 2021 virtual conference yesterday. Mr Pakorn said that in line with the changing demand for investments, the SET revised its listing rules two months ago to help new S-curve industries access more funds in the stock market. In doing so, the SET has adopted the market cap listing rules which allow these companies to list on the bourse without having to provide a track record of profits which is required by the general listing rules. Manpong Senanarong, the SET's executive vice-president, said under the new criteria of listing rules, many new S-curve companies are expected to be listed on the market later this year and next year. If the target is achieved, Thailand can expect to attract 10 million tourists next year.

A delay is unwanted as the government cannot afford to let the decision-making vacuum at the existing NBTC board continue, according to an applicant who requested anonymity. Each NBTC board member represents each field. However, a source in the telecom industry who requested anonymity said the selection of the new NBTC board members may not be easy this time due to the new conditions in the amended NBTC Act. First, each of the seven candidates must obtain approval from at least five out of a total of seven members of the selection committee to qualify. Second, the list of seven names will then be forwarded to the Senate and each of them must obtain votes from at least half of the senators to qualify as NBTC board members.

Indigenous protest as Brazil high court hears land caseIndigenous men are seen during a protest outside the Supreme Court building in Brasilia, on August 24, 2021BRASíLIA - Thousands of indigenous protesters marched through Brazil's capital Wednesday, dancing to the beat of pounding drums, as the Supreme Court prepared to take up a case that could eliminate reservations on their ancestral lands. "The Supreme Court needs to listen to the concerns of indigenous peoples and protect our constitutional rights," said Jatota Wajapi, 32, of the Wajapi people in the northern state of Amapa. A similar protest in June erupted into clashes, with three indigenous demonstrators injured and three police wounded by arrows. The court case revolves around the Brazilian constitution's protection of indigenous lands. Bolsonaro has vowed in the past that "not one centimeter" of new indigenous reservations will be created in Brazil.

Total car sales in Thailand fell to 52,442 units, a drop of 15.08% from June after the government imposed a harsher lockdown in mid-July to contain the spread of the virus. The prolonged semiconductor shortage will also affect car supply as many automakers are considering reducing their car production this year. This announcement is expected to also affect the manufacturing of Toyota Motor Thailand, said Suparat Sirisuwanangkura, honorary chairman of FTI's automotive club. The federation earlier expected 2021 car production to reach 1.55-1.6 million units, with 800,000-850,000 units to be exported. From January to July, domestic car production rose by 30.08% year-on-year to 342,180 units.

Asian quartet earn spots at BMW C'shipBaltimore: South Korea's Im Sung-Jae enjoyed his best finish at the Northern Trust in a share of 16th place on Monday as he led three other Asian stars into the second FedEx Cup event, the BMW Championship which begins today. He rose from 30th position to 25th on the FedEx Cup standings following his 14th top-25 finish of the PGA Tour 2020-21 Season. He dropped two rungs to 16th place on the FedEx Cup standings. Since the FedEx Cup was inaugurated in 2007, no more than two Asians have featured at the same time at the Tour Championship. Needing a top-10 finish to have any hopes of advancing, India's Anirban Lahiri settled for a share of 56th position.

The Afghan Taliban, on the one hand, emphasised its willingness to "grow sound relations with China" while also promising not to pose any threat to its powerful neighbour. So far, Japan and South Korea have not made any response to the cordial gestures made between China and the Afghan Taliban. Over the previous two decades, both Japan and South Korea had made significant contributions to Afghanistan's development. Legitimising the Afghan Taliban's return to power is more egregious than submitting to authoritarians in Southeast Asia. No matter how strongly they deny it, the Afghan Taliban is a terrorist organisation.

GIZWe no longer have the luxury of time to debate climate change or stall on taking action. This was made crystal clear in the latest report by the Intergovernmental Panel on Climate Change (IPCC). It has also made clear that every action we take today contributes to reducing the effects of climate change tomorrow and that we will pay dearly for every climate action we fail to take now. How can Thailand avoid the mistakes it made in its Covid-19 response and what elements of its response are useful in dealing with climate change? Climate change is a crisis that we have seen coming for the past 20 years.

Beware the 'third hand' in Thai conflictThe use of live ammunition against protesters demanding the resignation of the Prayut Chan-o-cha government is an ominous sign that the protests will escalate into prolonged bloodletting. On the evening of Aug 16, three anti-government protesters were shot at Din Daeng intersection. This does not just fuel angry and hatred between the parties to a conflict, but the faceless gunman -- often described as "the third hand" -- has been used to justify the use of violence. Ninety-nine people, including six soldiers, died, and thousands were injured during the state crackdown on red shirt protesters between April and May 2010, under Abhisit Vejjajiva's premiership. The Gen Prayut government must avoid taking the same path if it wants to avoid such losses which only deepen the chasms in Thai society.

Mother-daughter duo busted over romance scamsThe Crime Suppression Division (CSD) has arrested a mother and a daughter in Saraburi for cheating their victims out of almost 3 million baht in romance scams. Pol Col Wiwat Chitsophakun, superintendent of CSD's sub-division 3, yesterday said the suspects, Sunantinee Sakaethong, 33, and Ratchanee Sakunaue, 63, were arrested after a team was deployed to search five locations across Nong Khae district. The arrest followed a complaint lodged with the CSD by a victim, who lost almost all of his retirement savings over the scam. The scammers, Pol Col Wiwat said, used a fake Facebook profile under the name "Chrysilla Celandina Celia", which featured pictures of celebrities as its profile picture. The victim who filed a report with CSD lost millions of baht to the pair, Pol Col Wiwat said.