Collection surpasses target in first 7 months
Collection surpasses target in first 7 monthsThe government's revenue collection in the first seven months of fiscal 2022 surpassed its target by 3.7% as a result of the expansion of product import volume, in line with the economic recovery, says Pornchai Thiraveja, director-general of the Fiscal Policy Office. He said the Revenue Department's collection during the period exceeded the target because of higher collection from personal and corporate income tax. The government's net revenue collection in the first seven months of fiscal 2022 stood at 1.27 trillion baht, exceeding the target by 45.8 billion baht or 3.7%. The Excise Department collected 320 billion baht, down 3.3% year-on-year or 11.1 billion baht, while the Customs Department collected revenue of 61.7 billion baht, up 4.8% year-on-year or 2.83 billion baht. The government projected expenses of 3.1 trillion baht in fiscal 2022, with a revenue target of 2.4 trillion baht.
Source:Bangkok Post
May 26, 2022 07:39 UTC
Cryptocurrency, digital token transfers exempted from VAT
According to Royal Decrees published on the Royal Gazette website on Tuesday, the transfer of cryptocurrencies or digital tokens at digital asset exchanges under the laws has been exempted from VAT collection.
Source:The Nation Bangkok
May 25, 2022 09:41 UTC
People in some areas won't need to wear face masks while outdoors from mid-June
The Covid-19 situation in the country is improving quickly and faster than expected, Kiattiphum said. He believed Thailand would enter endemic transition in July as planned. In this regard, public health agencies must prepare activities to encourage people to coexist safely with Covid-19, he said.
Source:The Nation Bangkok
May 25, 2022 06:16 UTC
Oil, gas firms use Ukraine war to resist climate efforts: report
Oil, gas firms use Ukraine war to resist climate efforts: reportUS oil and gas companies spread the misleading message that US climate change policies were to blame for rising energy pricesPARIS - US oil and gas firms took advantage of energy worries over the Ukraine war to push their fossil fuel products and resist climate change regulatory measures, an analysis showed on Wednesday. It said the companies spread the misleading message that US climate change policies were to blame for rising energy prices and that more US-produced oil and gas was the solution. They pushed "long-standing policy asks relating to the continued expansion of oil and gas," despite the widely-documented role such operations play in driving deadly global climate change, InfluenceMap said. It also analysed public statements by oil and gas executives, finding that several of them publicly blamed climate change policies or promoted US-produced energy as part of the solution to the energy crisis. But analysts told AFP in March that swings in energy prices in 2022 were due to a variety of factors, including a rebound in economic activity following the Covid-19 pandemic.
Source:Bangkok Post
May 25, 2022 05:52 UTC
Bt50m worth of fake goods confiscated in Saraburi
The counterfeits were smuggled in from China and stored at the houseware for retail distribution nationwide. The impounded lots, worth a total of Bt50 million, mostly included glasses, hats, and buckles, said DSI official, adding that a sum of Bt300 million was also sieged. Representatives of the brands' right holders were present at the announcement. Thailand has been stepping up the crackdown on fake brand products as they have a direct impact on the Thai economy, DSI Director-General Paisit Wongmuang.
Source:The Nation Bangkok
May 25, 2022 05:39 UTC
Top 50 Richest People Have Lost More Than Half a Trillion Dollars This Year
The drop comes as the stock market flirts with its first bear market since the beginning of the pandemic. Mr. Musk, Tesla Inc chief executive and the world's richest man, currently has a net worth of $201 billion. On paper, he has lost $69.1 billion so far this year, the most of any billionaire currently on the top 50 list, according to the index. Mr. Bezos still has a net worth of $131 billion and Mr. Arnault is worth $123 billion. Microsoft Corp co-founder Bill Gates is currently worth $116 billion but has lost $21.7 billion in wealth this year.
Source:Bangkok Post
May 25, 2022 04:50 UTC
Cabinet approves 'We Travel Together' extension
Cabinet approves 'We Travel Together' extensionฺBang Saen beach in Chon Buri is crowded with tourists during the Songkran holiday in April. (Photo: Pattarapong Chatpattarasill)The cabinet on Tuesday approved the extension of the "Rao Tiew Duay Kan’" (We Travel Together) tourism stimulus campaign to cover an additional 1.5 million people. The cabinet meeting, chaired by Prime Minister Prayut Chan-o-cha, approved the fourth-phase extension of the stimulus package, with the deadline extended from May 31 to Sept 30, government spokesman Thanakorn Wangboonkongchana said. Before the cabinet meeting, Gen Prayut said the Finance Ministry and the National Economic and Social Development Council (NESDC) were considering extending the We Travel Together scheme. Total expenditure from this phase was 8.4 billion baht, of which 7.1 billion baht was for hotel rooms, 1.25 billion baht for food and drink via vouchers, and the remainder for air tickets.
Source:Bangkok Post
May 25, 2022 00:26 UTC
India to limit sugar exports in new risk to global food prices
India to limit sugar exports in new risk to global food pricesFILE PHOTO: Vendors load sugarcane onto a vehicle at a wholesale market in Kolkata, India, Oct 9, 2018. India is expected to produce 35 million tons this season and consume 27 million tons, according to the Indian Sugar Mills Association. An export halt is likely to have a significant impact on the global sugar market given India is a major producer and exporter. Once shipments hit 9 million tons, exporters will have to apply for permits to send the remaining 1 million tons, the person said. An estimated 7.1 million tons have been shipped as of end-April, and another 800,000 to 1 million tons are likely to be exported in May, the industry group said last week.
Source:Bangkok Post
May 24, 2022 21:26 UTC
Minor reaches agreement to open new Saudi hotel
Minor reaches agreement to open new Saudi hotelMinor Hotels is planning a new hotel in Saudi Arabia after reaching an agreement with the Diriyah Gate Development Authority (DGDA) to open an Anantara Hotel in Diriyah. William Heinecke, chairman and founder of Minor International, the parent company of Minor Hotels, said the hotel will be a part of Diriyah Gate, a large project in terms of scale and luxury which focuses on local residents and international tourists. Minor Hotels, a hotel owner, operator and investor, currently has 529 hotels and resorts in 56 countries across Asia-Pacific, the Middle East, Europe, the Americas, Africa and the Indian Ocean. It has signed a memorandum of understanding with DGDA to develop the hotel under its luxury Anantara brand. The project will include 38 hotel brands, over 100 restaurants, and more than 400 luxury retail brands and souk offerings.
Source:Bangkok Post
May 24, 2022 10:51 UTC
GSB ready to assist THAI, Oil Fuel Fund
GSB ready to assist THAI, Oil Fuel FundA Thai Airways International Boeing 777-300ER aircraft is seen parked at Suvarnabhumi airport. The Government Savings Bank (GSB) stands ready to extend loans to Thai Airways International (THAI) and the Oil Fuel Fund to boost their liquidity if the government adopts a policy for it to do so, said GSB chairman Prapas Kong-Ied. He added that the Oil Fuel Fund has yet to ask for a loan from GSB. As in the case of THAI, the bank would consider extending a loan to the fund if it were government policy. The fund is in talks with state-owned banks for loans worth 30-40 billion baht to boost liquidity, enabling it to subsidise the domestic oil price.
Source:Bangkok Post
May 24, 2022 09:23 UTC
PTG reports Q1 sales revenue rise of nearly 21%
PTG Energy Plc reported first-quarter revenue from sales and services of 39 billion baht, up 20.8 per cent from a year earlier. Meanwhile, revenue from the firm’s non-oil business rose 44.1 per cent year-on-year to 1.8 billion baht, accounting for 4.6 per cent of total revenue. The first quarter saw EBITDA (earnings before interest, taxes, depreciation, and amortisation) at 1.26 billion baht and net profit of 163 million baht, a fall of 368 million baht YoY. PTG sold 1.264 million litres of diesel in Q1/2022 – a drop of 5.5 per cent YoY – but still maintained the second-highest market share. Meanwhile, PTG sales of LPG rose 69.2 per cent to 106 million litres.
Source:The Nation Bangkok
May 24, 2022 07:19 UTC
Sappe eyes B1bn expansion
The investment excludes the company's annual capital expenditure of 100 million baht. Ms Piyajit said Sappe plans to increase its sales to 10 billion baht by 2026 through essential business strategies including domestic and international expansion, mergers and acquisitions (M&A), and an aggressive business expansion of its All Coco drink brand. In terms of international business, Sappe has an average growth target of 15-20%, mainly through the expansion of sales distribution channels to be more comprehensive and cover more areas. The company aims to increase sales of its All Coco drink brand to 800 million baht in 2026, from 316 million baht last year. It will open new All Coco cafés in Bali, Indonesia, and increase sales points worldwide.
Source:Bangkok Post
May 24, 2022 04:55 UTC
EmQuartier celebrates Japanese culture and food
Published byThe Bangkok PostEmQuartier celebrates Japanese culture and foodpublished : 24 May 2022 at 04:00 newspaper section: [Life](http://search.bangkokpost.com/search/result_advanced?category=news&xNewsSection=Life) “Emporium EmQuartier Japan Remix 2022” is a summer celebration featuring all things Japanese and lifestyle selections, at EmQuartier, Sukhumvit Road, until Sunday. The celebration is divided into three parts. The “Nippon Sweet Paradise By FYI Market” gathers over 30 dessert shops, including Haru Café, Hannari Cafe de Kyoto, Saku Saku, Teyaki, Mahouse Café, Tsujiri and Ichigo Mochi, at the Quartier Gallery…Read More
Source:Bangkok Post
May 24, 2022 00:31 UTC
Diesel price capped at B32 for another week
Diesel price capped at B32 for another weekA motorist waits to refuel at a pump in Bangkok. (Photo: Pornprom Satrabhaya)The Oil Fuel Fund board on Monday decided to continue capping the retail price of standard diesel at 32 baht per litre for another week. The global diesel price was not too high, at $US138 per barrel, and the Oil Fuel Fund Office could still manage its liquidity, he said. The board intends to review the diesel price and its price cap on a weekly basis. The fuel fund's diesel subsidy dropped to 5.37 baht per litre from 9.55 baht per litre a week ago.
Source:Bangkok Post
May 23, 2022 22:33 UTC
Hong Kong cardinal's arrest spotlights secretive Vatican-China deal
Hong Kong cardinal's arrest spotlights secretive Vatican-China dealFILE PHOTO: Retired bishop Cardinal Joseph Zen Ze-kiun attends the episcopal ordination of Bishop Stephen Chow in Hong Kong, Dec 4, 2021. (Reuters)The arrest of a 90-year-old cardinal under Hong Kong's national security law has shocked the city's Catholic community as the Vatican seeks to renew a secretive deal with Beijing. Many underground church supporters resided in Hong Kong, a separate diocese in a city where religious freedom remains, for now. Xia Baolong, a hardliner who led the latter campaign against churches, is now the top Chinese official for Hong Kong policy. But few analysts and observers expect the Vatican to be moved to reassess its rapprochement with Beijing over Zen's arrest.
Source:Bangkok Post
May 23, 2022 21:03 UTC