Short-term boost likely for gold demand in Thailand
Andrew Naylor, regional CEO, Asia Pacific (ex-China) of the council, said during an online press conference on Wednesday morning that due to the economic slowdown and uncertainty factors, gold remains a preferable alternative for Thai people. He said consumer demand for gold during the second quarter this year had already increased 14 per cent, from 7.5 tons in the same quarter last year to 8.5 tons this year. The council pointed out that the demand was supported by a 10 per cent year-on-year increase in demand for jewellery from 1.7 tons in the second quarter of 2021 to 1.9 tons in the second quarter of this year and a 15 per cent year-on-year increase in bar and coin demand. Jewellery consumption has been supported by the economic recovery, emergence from Covid restrictions and a rebound in tourism. “This is the sixth consecutive quarter that we’ve seen a year-on-year rise in jewellery consumption in Thailand, owing to lower gold prices as well as higher safe-haven demand for gold amid a weaker local currency and inflationary concerns," Naylor saidHowever, global jewellery fabrication outperformed consumption as demand remains well below pre-pandemic levels, he added.
Source:The Nation Bangkok
August 03, 2022 09:32 UTC
Covid patients to be handed Molnupiravir
NHSO secretary-general Jadet Thammathataree said Covid patients have been allowed to request antiviral drugs via the office’s 1330 call centre since July 23. The NHSO delivered Favipiravir to 1,941 eligible patients from July 23 to 30, he said. “However, the NHSO had failed to deliver antiviral drugs to 25 patients because their houses or companies were closed, officials failed to contact recipients or the recipients refused to take delivery,” Jadet said.
Source:The Nation Bangkok
August 03, 2022 05:18 UTC
Arbitral tribunal delays ruling
Arbitral tribunal delays rulingChatree, a gold mine previously operated by Akara Resources Plc in Phichit province. (Photo: Sitthipoj Kebui)The international arbitral tribunal has postponed till Dec 31 its decision on a dispute between the government and Australia's Kingsgate Consolidated Ltd over the Chatree gold mines, during which time negotiations between the two parties are expected to have wrapped up. "Considering all these developments, the mines are expected to restart between late this year and early next year,'' the source added. The company has demanded 30 billion baht in compensation. The tribunal completed its arbitration hearings on Feb 12, 2020, but has yet to make its decision known while urging both parties to negotiate.
Source:Bangkok Post
August 03, 2022 04:37 UTC
PTT sells coal business to Indonesia's Astrindo for $471m
PTT sells coal business to Indonesia's Astrindo for $471mThe Sebuku coal mine operated by PTT Mining in Indonesia. (Photo: PTT)State-owned energy firm PTT Plc said on Tuesday it had agreed to sell its coal unit to Indonesia's PT Astrindo Nusantara Infrastruktur Tbk for $471 million, as the company moves out of the coal business entirely. The announcement came as global coal demand is set to match a record high reached nearly a decade ago. Astrindo said the deal, which includes coal concessions in Brunei Darussalam, Madagascar and three mines in Kalimantan, Indonesia, will have a "substantial" impact for the company. "Our financial performance in 2022 will show a significant jump given the current price of coal," Astrindo Director Michael Wong said.
Source:Bangkok Post
August 02, 2022 10:27 UTC
PTTEP suspends gas delivery as Zawtika pipe springs a leak
Hence, the company has isolated the pipe and temporarily suspended the delivery of gas to Thailand from the Zawtika field. Initial investigation shows little or no possibility of an explosion or fire, PTTEP said. Meanwhile, PTTEPI is investigating the cause of the leak and expects to have it repaired within two weeks. The Zawtika Project in Myanmar can produce up to 300 million cubic feet of gas daily, 80 per cent of which is transported to Thailand and the remainder to Myanmar.
Source:The Nation Bangkok
August 02, 2022 09:10 UTC
Nok Air captain needs to 'defend' decision after crash
Nok Air captain needs to 'defend' decision after crashThe captain of a Nok Air aircraft that slid off the runway at Chiang Rai airport will be summoned by regulators to explain why passengers were kept on board for about an hour after the accident. "The rationale behind the decision is what the CAAT needs to hear from the captain," Mr Suttipong told the Inside Thailand news programme. The captain turned off the engines of the 737-800 Boeing aircraft after the accident, leaving the passenger cabin in darkness and without air conditioning. "The captain is the one who makes the decision on evacuation after assessing the situation, including external factors," Mr Suttipong said. The CAAT chief also said passengers were allowed to stand on runways in case of emergency, although they were off limits in normal circumstances.
Source:Bangkok Post
August 02, 2022 03:18 UTC
Baht to remain stable as few factors backing greenback
He said the market is being cautious and may pressure the baht to weaken, especially if foreign investors sell Thai stocks for profits. However, the baht will not weaken much as there are no factors strengthening the dollar. Moreover, the baht is supported by gold-selling transactions. In the short term, the baht’s key support level is at 36 to the dollar as some importers and Japanese multinational corporations bought the dollar and Japanese yen recently. Meanwhile, most exporters are waiting to sell the dollar at 36.40, the baht’s resistance level.
Source:The Nation Bangkok
August 02, 2022 02:31 UTC
First vaccine batch due later this month
First vaccine batch due later this monthThailand's first batch of 1,000 monkeypox vaccine doses is expected to arrive later this month, but the authorities have yet to decide who should get them first, according to the Department of Disease Control (DDC). "It should be provided to bisexual men or people living with low immunity." "We are not sure if [bisexual men] will come to get the vaccine." The department's academic committee will make the final decision on who should get the vaccine first, he said. The vaccine is not necessary for everyone because the side effects can be severe, he said.
Source:Bangkok Post
August 01, 2022 22:58 UTC
Prawit's close aide now leads another small party
Prawit's close aide now leads another small partyGen Wit Devhastin na Ayudhya, right, at the special general meeting of the Thailand Together Party at Rama Gardens Hotel in Bangkok on Monday, when he was elected party leader. (Photo: Pattarapong Chatpattarasill)Gen Wit Devahastin na Ayudhya on Monday became the leader of a small party now renamed the Thailand Together Party. The party, formerly known as the Thai Nation Power Party, held a special general meeting at Rama Gardens Hotel on Monday. He had to return to politics because he had to find a new party for the politicians who followed him out of the Setthakij Thai Party. Gen Wit was considered a close aide of Deputy Prime Minister and PPRP leader Prawit Wongsuwan and was forced to resign as the leader of Setthakij Thai.
Source:Bangkok Post
August 01, 2022 20:28 UTC
Pilot must explain why passengers were kept aboard damaged plane
Pilot must explain why passengers were kept aboard damaged planeRescuers and medics help passengers leave the crashed Nok Air plane after it slid off the runway at Mae Fah Luang international airport in Chiang Rai on Saturday. Under international aviation protocols, all passengers must be evacuated from the aircraft within 90 seconds of a serious incident, according to the CAAT chief. But the evacuation rules were also flexible, depending on the circumstances and safety of the passengers and aircraft, he said. The CAAT chief also said passengers were allowed to stand on runways in case of emergency, although they were off limits in normal circumstances. Mr Suttipong said the aviation regulator would not be quick to blame the chief pilot for the slow evacuation that kept most passengers inside the aircraft without sufficient air to breathe.
Source:Bangkok Post
August 01, 2022 09:03 UTC
PTTEP announces significant gas discovery from its first exploration well in UAE
Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), disclosed that Eni Abu Dhabi B.V., the operator, and PTTEP MENA Limited, PTTEP’s subsidiary as the partner, have made another significant gas discovery, in a deeper zone, of the first exploration well XF-002 in Abu Dhabi Offshore Block 2. After this well, PTTEP and Eni will continue drilling nearby prospects to further evaluate potential of the block. “We are delighted to announce another gas discovery in the UAE, which is one of the major discoveries that we have made in the most recent years. Abu Dhabi Offshore Block 2, located in the northwest of Abu Dhabi, covers an area of 4,033 square kilometres. Eni Abu Dhabi B.V. is the operator of the project with 70% participating interest.
Source:The Nation Bangkok
August 01, 2022 07:24 UTC
2,108 new Covid patients, 19 deaths
2,108 new Covid patients, 19 deathsPeople wait for Covid-19 vaccination at Bang Sue Grand Station in Bangkok. There were 19 more Covid-19 fatalities and 2,108 new cases admitted to hospitals on Sunday, the Ministry of Public Health reported on Monday. This compared with 26 coronavirus-related fatalities and 1,664 cases admitted to hospitals on Saturday, as reported on Sunday. Of the 2,108 new cases admitted to hospitals over the 24 hours, there were 2,107 cases in the general population and one imported case. Since the pandemic started in early 2020, there have been 4,592,284 Covid-19 cases, including 2,368,849 this year, with 4,538,170 complete recoveries to date.
Source:Bangkok Post
August 01, 2022 07:09 UTC
Why Bangladesh won't face a Sri Lanka-style crisis
Why Bangladesh won't face a Sri Lanka-style crisisThe economic and political disaster in Sri Lanka has been a hot topic in recent months, with commentators looking around for signs of similar trouble in other emerging market economies. Some of these economies, such as Bangladesh, tend to get unfairly lumped in with others that could potentially face a debt crisis or worse. But the Awami League government has pointed out that the economies of Sri Lanka and Bangladesh are vastly different. Development aid organisations in Bangladesh have also said repeatedly that there is no logical reason for the situation in Bangladesh to be compared to that of Sri Lanka. In Sri Lanka, widespread corruption among key members of the Rajapaksa regime was another big cause of public anger.
Source:Bangkok Post
August 01, 2022 03:26 UTC
Fighting Thailand's energy price wars
Electricity bills keep soaring amid the global oil price surge. The government shouldered these heavy financial burdens even when global oil prices were at their lowest levels in 2020. Oil prices tumbled when Saudi Arabia significantly hiked production to punish Russia for not agreeing to production cuts. The tug-of-war took place at the same time as the pandemic caused global oil demand to plummet. The current size of the losses was released by the Oil Fuel Fund Office on July 25.
Source:Bangkok Post
July 31, 2022 22:51 UTC
Vietnamese mother, daughter drown off Phuket's Naithon beach
Vietnamese mother, daughter drown off Phuket's Naithon beachPolice are seen at Naithon beach in Phuket after two Vietnamese tourists drowned on Sunday. (Photo: Achadtaya Chuenniran)PHUKET: Two tourists from Vietnam - a woman and her daughter - drowned while swimming in the sea off Naithon beach in Thalang district on Sunday morning. Police went to the scene to investigate and learned that three Vietnamese tourists, who were staying at the Pullman Phuket Arcadia Naithon Beach, went swimming off Naithon beach, ignoring the red flags. The woman was later identified as Hoang Hai Van, 52, and her daughter as Nguyen Chuc An, 16. Police sent their bodies to Vachira Phuket Hospital for an autopsy and notified the Vietnamese embassy of the incident.
Source:Bangkok Post
July 31, 2022 13:21 UTC