Exports down 4.5% in OctoberRice farmers harvest in Surin province. The declining export of rice plays a part in the country's 4.5% export drop in October, according to the Commerce Ministry. Crude prices fell nearly 25%, resulting in a 35.4% decline in the value of refined oil exports and a 25.8% fall in the value of oil-related exports, she said on Thursday. In the first 10 months of this year, exports were valued at $207.3 billion, down by 2.3%. For next year, exports would continue to face high risks because the economic slowdown that was expanding to major trading partners of Thailand, low oil prices and the strong baht, Mrs Pimchanok said.
November 21, 2019 09:11 UTC
Strong quake in Laos widely felt, causes damage in NanPart of the roof and ceiling collapsed at the Border Patrol Police 100th year schoool in Bo Klua district of Nan province during the earthquake on Thursday mornning. (Photo by Rarinthorn Petcharoen)An earthquake centred in Laos caused damage in neighbouring Nan province on Thursday morning, with reports of cracks appearing in walls and collapsed roofs, mainly in Bo Klua Bo Klua and Chalerm Prakiat districts. In Laos, employees of the Hongsa Power plant in Xayaboury province were placed on full alert for quake damage, company executive Khathayut Chuphun said. The epicentre was recorded at a depth of 3 kilometres and about 19km southeast of Nam Chang village in tambon Khunnan, Chalerm Prakiat district, in Nan province. He said the tremors were felt in Nan, Phayao, Chiang Mai, Lamphang, Uttaradit, Lamphun, Phrae and Phitsanulok provinces.
November 21, 2019 08:15 UTC
US legislation on Hong Kong: what it doesGraffiti seen on a wall in Hong Kong Polytechnic University on Thursday. A second bill, which the Senate also approved unanimously on Tuesday, would ban the export of certain crowd-control munitions to Hong Kong authorities. Officials responsible for human rights violations in Hong Kong could also be sanctioned under the Hong Kong Human Rights and Democracy Act. The other bill would ban the export to Hong Kong of items such as tear gas, pepper spray, rubber bullets and stun guns. The American Chamber of Commerce in Hong Kong has said that anything that changes the status of Hong Kong "would have a chilling effect not only on US trade and investment in Hong Kong but would send negative signals internationally about Hong Kong's trusted position in the global economy".
November 21, 2019 06:01 UTC
Hong Kong campus stalemate persists as US bill annoys ChinaNumbers inside the PolyU campus have diminished, with some of those who emerged heading for hospital. Beijing did not immediately respond to the passage in Washington of the Hong Kong Human Rights and Democracy Act, which voices strong support for the "democratic aspirations of the Hong Kong people". The troubles have already tipped Hong Kong's economy into recession and the threat of change in trade status brought fresh gloom. Hong Kong is a semi-autonomous Chinese region and US policy treats its economy as separate from the rest of China. Beijing has accused the United States of fuelling Hong Kong's protests, and China's state media made clear the government's anger over the Hong Kong democracy bill.
November 21, 2019 04:48 UTC
Australian PM denies climate link as smoke chokes SydneyThe Sydney Opera House and Harbour Bridge are seen through a smokey haze which blankets Sydney. SYDNEY - Australia's Prime Minister on Thursday denied his climate policies had caused unprecedented bushfires ravaging the country and insisted his government was doing enough to tackle global warming. Scientists, former fire chiefs and residents touched by bushfires have all drawn the link between this season's more intense fires and climate change. In South Australia, the state capital Adelaide was also shrouded in bushfire smoke and residents were being told to stay indoors for health reasons. More than 110 fires are still burning in worst-hit New South Wales and neighbouring Queensland, while in South Australia more than 40 fires broke out during catastrophic fire conditions Wednesday.
November 21, 2019 03:45 UTC
Province to allow encroaching hotels to stay in businessPHETCHABUN: Provincial authorities have agreed to allow hotels proven to be encroaching on public forests to continue operating, to avert a slump in the local economy. The provincial land policy subcommittee, headed by Suebsak Eiam-vicharn, said state agencies will be notified of the subcommittee's decision before it is put to the cabinet for final approval. The decision was taken as the province's local economy has experienced a downturn since the previous government under the National Council for Peace and Order (NCPO) resolved to reclaim public forests from encroachment. In 2016, the NCPO ordered all buildings built on public forests in Phetchabun be demolished. The forests were reserved for Hmong tribes to resettle in, but were later leased to companies which built resorts there.
November 21, 2019 03:22 UTC
Google tightens political ads policy to thwart abuseGoogle says it is changing how it handles online ads to avoid the spread of misinformationSAN FRANCISCO: Google on Wednesday updated how it handles political ads as online platforms remain under pressure to avoid being used to spread misleading information intended to influence voters. The internet company said its rules already ban any advertiser, including those with political messages, from lying in ads. "So we expect that the number of political ads on which we take action will be very limited - but we will continue to do so for clear violations." Google will also limit targeting of political ads to general categories such as age, gender, or postal code level location. Twitter last week said its ban on political ads will exempt "cause-based" messages on topics related to social or environmental issues.
November 21, 2019 01:52 UTC
Earthquake shakes Thai-Lao border, sways Bangkok high-risesA school operated by the Border Patrol Police in Bor Kluea district of Nan is damaged after an earthquake in Laos near the Thai border in the northern province. (Photo from @Ruamduay Twitter account)A strong earthquake shook a border area between northern Thailand and northwestern Laos on Thursday morning, swaying Bangkok high-rises. It was centered in northwestern Laos, about 31 kilometers from Chaloem Phrakiat district in Nan province. The red dot shows the location where an earthquake shook the Thai-Lao border. Lights swinging in Bangkok from the earthquake near Laos border #แผ่นดินไหว pic.twitter.com/OqTNJFFOCV — Andy Baird (@andy_engineer) November 21, 2019(Video from @andy_engineer Twitter account)
November 21, 2019 01:00 UTC
Nine firms build networkNine producers and importers of construction materials and equipment have joined forces to build a marketing network and share a customer base exceeding 2,000 as they aim to achieve sales growth of 25-30% next year. Nantarat Tantiwatpanich, an assistant manager at tile maker Kenzai Ceramics Industry Co, said the company and eight other firms will share customer data with one another. "Credibility is significant, as construction materials and equipment have a high value." Kenzai Ceramics and the other construction materials and home equipment firms on Wednesday launched a networking group called Connext. Ms Nantarat said the nine members have combined sales of 3.5 billion baht a year and aim for sales growth of 25-30% in 2020.
November 21, 2019 00:26 UTC
Robert Walters predicts actual salary increases in 2020 to be 15-20% for those switching jobs and 2-7% for those staying at the same job. The salary expectations are stable from last year's survey, which only measured the bottom range of the expected increase at 20%. "These high salary increases can't go on forever as the costs of hiring will become too high," Ms Punyanuch said. "Companies will have to start focusing on internal development and hiring less experienced workers based on potential." Another recent Robert Walters survey found 48% of hiring managers in the country have never hired an applicant that was less experienced based on potential.
November 21, 2019 00:22 UTC
Private sector drafting proposals for state's considerationA group of leading businesses next week is scheduled to bring proposals to the government for stimulating the local economy and offsetting the impact of the global slowdown, the ongoing trade war, the stronger baht and tech disruption. "Only the tourism sector can now help buoy the Thai economy," he said. The Thaitay concept involves solutions to motivate the local economy through the uniqueness of communities, mixing innovation and technology with storytelling. Separately, the University of the Thai Chamber of Commerce (UTCC) yesterday reported its business confidence index, a gauge of nationwide business sentiment. Domestic consumption remained poor, he said, and the business sector saw tighter financial liquidity.
November 21, 2019 00:19 UTC
BBL thriving after Asean pivotDespite fading foreign direct investment in China amid the Sino-US trade war, Bangkok Bank (BBL) says its international banking business is thriving from a shift towards Asean. The bank's international banking business, covering nine of the 10 Asean nations, shows positive signs, mainly due to higher investment in Asean from regional business operators and foreigners, said a source familiar with the issue. Cambodia, Laos, Myanmar, Vietnam and Indonesia are top investment destinations for both Thai business operators and others including Chinese. The positive trend will facilitate BBL's international banking business this year and next, given its extensive network in Asean. BBL is Thailand's largest international banking business network with operations in all Asean countries except Brunei.
November 21, 2019 00:18 UTC
Ratch beefs up IoT with stake purchaseSET-listed Ratch Group Plc has announced the acquisition of a 35% stake in Things on Net Co for 180 million baht as the power producer seeks a foothold in the Internet of Things (IoT). Sigfox provides network services in over 50 countries. Chief executive Kijja Sripatthangkura said Ratch is expanding its infrastructure business through IoT, following the company's long-term growth strategy. The joint venture gives Ratch the right to take part in Things on Net's telecom network installation and IoT services in Thailand, he said. "Ratch has considered the complements of the IoT business in broadening its energy and power-related business, as well as fibre-optic cable network," Mr Kijja said.
November 21, 2019 00:17 UTC
Nishino: We must win all three matchesThailand's Theerathon Bunmathan plays against Vietnam during a World Cup qualifier in Hanoi on Tuesday. Coach Akira Nishino aims to steer Thailand to Asia's final qualifying round for the 2022 World Cup by winning the three remaining matches. The War Elephants arrived home on Wednesday after a scoreless draw with Vietnam in Hanoi on Tuesday night. "We must try to win all the three remaining matches. Theerathon said every player tried very hard but it was his fault that he missed the penalty that cost Thailand a win.
November 21, 2019 00:12 UTC
Regulator mulls protection fund for lossesThe Securities and Exchange Commission has proposed a plan to set up an "investor protection fund" to compensate investors who receive financially damaging advice from brokers and fund managers. These investor protection funds only cover those who lose money from bad advice from parties such as brokers, securities dealers, cryptocurrency exchanges and asset management firms. The fund would have initial capital from the Stock Exchange of Thailand, securities companies and asset management firms, Ms Ruenvadee said. "Today we want to hear from market participants, especially all the fund's supporters who agree and welcome the implementation of the fund, and if the protection fund can help raise investor confidence to increase exposure in capital markets for the long term," Ms Ruenvadee said. Pichet Sithi-Amnuai, chairman of the Association of Securities Companies, called the fund a good idea.
November 21, 2019 00:11 UTC