BoT preps measures for household debt
BoT preps measures for household debtThe atmosphere at Money Expo 2022, which kicked off on Thursday and runs until Sunday at Impact Muang Thong Thani. (Photo: Nutthawat Wicheanbut)The Bank of Thailand plans to implement new measures to ease household debt, focusing on lower-income borrowers. The low income and high debt burden for vulnerable groups is a key reason for the county's swelling household debt. Data sharing from all related parties is one method to help deal with the country's household debt, said the central bank. Adequate information should help both regulators and financial institutions to stipulate targeted measures helping borrowers better manage debt, he said.
Source:Bangkok Post
May 13, 2022 09:33 UTC
Rugby opens new frontier by picking US as World Cup hosts
Rugby opens new frontier by picking US as World Cup hostsSouth Africa won the 2019 Rugby World CupLONDON: The Rugby World Cup will be staged in the United States for the first time in 2031 after the game's governing body named the host nations for five men's and women's tournaments. "Today, we have approved three exceptional Rugby World Cup host nations -- England, Australia and USA -- providing unprecedented certainty and an unparallelled opportunity to accelerate the growth and impact of rugby globally," said World Rugby chairman Bill Beaumont. Japan reached the last eight of their home World Cup three years ago in a tournament won by South Africa. "We're beyond thrilled to be welcoming not one, but two Rugby World Cups to our shores," said Rugby Australia chairman Hamish McLennan. "As we have seen from other home World Cups in cricket, hockey and netball, a World Cup will further advance all women's sport."
Source:Bangkok Post
May 13, 2022 09:05 UTC
Plugging into the future with EV mobility
In response to the government policy, the EV committee last year formulated a bold roadmap for EV adoption with a target for ZEV production of 725,000 EV cars and pick-ups plus 675,000 EV motorcycles, and 34,000 buses and trucks. Moreover, Thailand is competing with Indonesia to become an EV production and export hub. EV use is targeted to be 1.50 million in 2025, 5.41 million in 2030 and15.58 million in 2035. Factors driving EV growthThailand’s EV demand started to gain momentum when Chinese car makers entered the Thai market with low prices. BMW Group (Thailand) could be the pioneer in developing a public EV charging station.
Source:The Nation Bangkok
May 13, 2022 07:20 UTC
Sugar cane output sees hike
"One tonne of sugar cane can make around 110kg of sugar. This also shows sugar cane is of good quality," Chalush Chinthammit, chairman of the FTI's Sugar Industry Club, said. Crushed sugar cane has a commercial cane sugar (CCS) sweetness level of 12.7 as farmers supplied fresh sugar cane to factories, he said. Since December last year, 57 sugar factories have begun to receive sugar cane from farmers. "We still expect sugar cane output to reach 100 million tonnes in the full crop year of 2022-23," he said.
Source:Bangkok Post
May 13, 2022 04:14 UTC
Food security, free trade on agenda of Apec ministers meeting in Bangkok
He added that digital transformation and further consideration of a free trade area are also needed in the discussion. Digitalisation would sustain growth while more fairness and openness of FTA would support the flow of trade and people. This is a desperate need in the current situation after being severely impacted by the Covid-19 pandemic, he said. “As a collective force representing the leading growth drivers from 21 economies of the region, the ABAC is committed to upholding not only our own respective businesses but also the business of those people for whom our businesses exist. “Having been at the receiving end of serious challenges brought about by the global pandemic and other events that affected business operations worldwide, people’s lifestyle, and the sustainable, inclusive and resilient growth of Asia-Pacific, we consider it an opportune time to work together to draft key recommendations that truly represent the voice of the people to the Apec economic leaders in an annual dialogue towards the end of 2022,” said Suphant.
Source:The Nation Bangkok
May 13, 2022 03:55 UTC
Three expressways toll-free on Friday as long weekend begins
From 0.01am until midnight on Friday, vehicles can zip through all toll booths of the Chalerm Maha Nakhon, Sirat and Udon Ratthaya expressways free of charge, the Expressway Authority of Thailand (Exat) said. The authority expects more people to travel on Friday as it forms a four-day long weekend, which kicks off with Royal Ploughing Day. The break will extend into Monday, which is a compensation holiday for Visakha Bucha Day on Sunday (May 15). The national holiday on Friday marks the Royal Ploughing Ceremony, an ancient tradition observed in Thailand every year to mark the start of the rice-growing season. Brahmin priests and court astrologers then interpret what the oxen eat to forecast whether the country’s coming harvest will be plentiful or not.
Source:The Nation Bangkok
May 13, 2022 03:19 UTC
Hong Kong looks to boost tourism with new campaign
As the fifth wave of Covid-19 fades and life returns to normal, the Hong Kong Tourism Board (HKTB) recently unveiled a revitalisation strategy to highlight Hong Kong's fresh views and open the door to travellers. "The HKTB has conducted extensive research in 16 markets and found Hong Kong is still well-loved by travellers worldwide. The HKTB will then launch extensive promotions, including the tactical 'Open House Hong Kong' campaign, to welcome back visitors when the time is right. The contemporary art museum M+ opened last year and the Hong Kong Palace Museum will welcome its first visitors this summer. Hong Kong International Airport will transform itself into an Airport City to enhance travel experiences with a variety of shopping, dining, entertainment and leisure options.
Source:Bangkok Post
May 13, 2022 03:09 UTC
FDA approves Covovax and Moderna’s Spikevax for children
Covovax, developed by the Serum Institute of India in partnership with US-based Novavax, can be given to children aged 12-17, expanding from the FDA’s previous approval that allowed the vaccine to be administered to recipients aged over 18. The vaccine must be administered in two doses of 0.5 millilitres each, at an interval of three weeks, just like for adults. Meanwhile, Moderna’s Spikevax can be given to children aged 6-11, expanding from the previous limit of 12 and over. The vaccine must be administered in two doses of 0.25ml each – or half the dosage for adults –at an interval of four weeks. The Public Health Ministry reported that so far 54 per cent of children aged 5-11 have received their first dose of Covid-19 vaccine and 17 per cent have got the second.
Source:The Nation Bangkok
May 12, 2022 12:43 UTC
Depa unveils national food delivery app
eatsHUB, which is now available for download through both Android and iOS systems, has been touted as the country's first national food delivery platform. The Digital Economy Promotion Agency (Depa) has launched food delivery platform eatsHUB to help small and medium-sized eateries boost their earnings through digital channels. Touted as Thailand's first national food delivery platform, eatsHub charges vendors a commission fee, known as gross profit (GP), at a low rate of 8%, compared with the standard 30% collected by other major operators. "This is why the food delivery platform business has seen strong growth over the past two years." He said competition in food delivery services is intense, with the participation of various foreign operators.
Source:Bangkok Post
May 12, 2022 11:40 UTC
Government urged to scrap workplace accident campaign
Government urged to scrap workplace accident campaignSawit: Bosses pay lip serviceLabour groups have asked the government to scrap a campaign to reduce workplace accidents as many employers allegedly dodge the obligation to contribute to the Zero Accident fund. That means their employees must also refrain from using the Zero Accident fund. By not using the Zero Accident fund, the workers are deprived of welfare and benefits to which they are entitled. Boonsom Sikamdokkae, chairwoman of the network caring for workplace accident sufferers, said there remains a critical shortage of specialists in occupational health, considering there are more than 400,000 factories nationwide. The Zero Accident fund should look into whether the hospitals overcharged the workers, she said.
Source:Bangkok Post
May 12, 2022 09:57 UTC
Thailand enters rainy season on Friday
The department also forecast that this year’s rainy season, which normally ends around mid-October for upper Thailand and mid-January for the South’s east coast, will see 3 per cent more rainfall than normal, but overall rainfall will be slightly lower than last year’s. The department warned that a dry spell could occur from mid-June to mid-July, whereas August and September would see the most frequent rainfall. During August and September there is a high probability of tropical cyclones moving past upper Thailand, bringing heavy to very heavy rain in several areas. People in upper parts of the country are warned to expect flash floods, water runoff and bank overflows during this period. In addition, tropical cyclone Asani over the central Indian coast will not directly affect Thailand but cause moderate winds across the country, the Gulf and the Andaman Sea.
Source:The Nation Bangkok
May 12, 2022 03:22 UTC
Sri Lanka's economy on brink of collapse as troops quell unrest
Sri Lanka's economy on brink of collapse as troops quell unrestSri Lankan police have been ordered to go on the offensive and use live ammunition to stop rioting, a top official told AFP. COLOMBO: Sri Lanka's economy will "collapse" unless a new government is urgently appointed, the central bank chief warned Wednesday, as security forces fanned out on the streets to restore order after spasms of mob violence. He said political stability was vital to implement the reforms needed to address Sri Lanka's snowballing debt crisis and the acute shortage of foreign exchange to import essentials. With armoured personnel carriers and a heavy security presence, Sri Lanka's military chief addressed a press conference to deny speculation of a looming coup. "Don't ever think that we are trying to capture power," said Kamal Gunaratne, the secretary of Sri Lanka's defence ministry.
Source:Bangkok Post
May 11, 2022 23:06 UTC
Malaysia c.bank raises interest rate in surprise move
Malaysia c.bank raises interest rate in surprise moveTourists choose what to buy during a shopping spree along Khao San Road, a popular spot for foreign visitors in Bangkok, on May 5, 2022. (Photo: Nutthawat Wicheanbut)KUALA LUMPUR: Malaysia's central bank unexpectedly raised its benchmark interest rate from a historical low on Wednesday, as rising commodity prices, strained supply chains and strong demand conditions fanned inflationary pressures. Bank Negara Malaysia (BNM) raised its overnight policy rate to 2% from the record low of 1.75%. It was the first hike since July 2020, when rates were slashed to a historic low to combat the impact of the Covid-19 pandemic. A Reuters poll of 18 economists had expected rates to remain unchanged this week, with the central bank likely to start tightening next quarter to avert rising inflationary pressures.
Source:Bangkok Post
May 11, 2022 20:21 UTC
Ceramic tile makers set out expansion plans
Two large producers of ceramic tiles -- SCG Ceramics Plc and Dynasty Ceramic Plc -- will open new stores and expand existing outlets nationwide as domestic demand recovers, following the country's reopening. "The ceramic business may not grow at a fast pace, but construction in the tourism sector will gradually resume in the medium to long term." In the first quarter of 2022, SCG Ceramics had year-on-year growth of 13% and quarter-on-quarter growth of 23% in sales of ceramic tiles, with a total volume of 20.1 million square metres. Maruth Saengsastra, chief executive of Dynasty Ceramic Plc, said exports to Myanmar doubled in the first quarter of this year as demand recovered. In the first quarter of 2022, Dynasty's average tile price rose by 5% to 151 baht per sq m, from 144 baht in the fourth quarter last year.
Source:Bangkok Post
May 11, 2022 10:22 UTC