Government warned over dangers of deficits
Government warned over dangers of deficitsMr Srettha, top right, delivers the government's policy statement to parliament on Sept 11. The budget deficit framework was also enlarged for future years. This differs from previous planning efforts in which the deficit was gradually reduced to create a balanced fiscal budget over the long run. A higher fiscal deficit as a result of power tariff and energy price subsidies would also worsen the country's current account deficit and consequently affect exchange rates. "Maybe this is one of the reasons why the prime minister should not hold the position of finance minister -- because the finance minister can control government expenditure.
Source:Bangkok Post
September 16, 2023 22:18 UTC
Airline price war unlikely amid high operational costs
Airline price war unlikely amid high operational costsPassengers check in for flights at Don Mueang Airport, Bangkok. (File Photo)Airlines in Thailand are not expected to start another price war in the near future, while the Civil Aviation Authority of Thailand (CAAT) plans to maintain ceiling ticket prices despite higher operational costs. This means the ceiling price regulated by the authority would remain the same for at least three years, he said. After airlines were stung by the pandemic, a price war is unsustainable for their businesses and the aviation ecosystem, he said. Mr Puttipong, also president of Bangkok Airways, said the training cost for each pilot starts at 2.5 million baht.
Source:Bangkok Post
September 16, 2023 19:16 UTC
CCTV footage shows 'conflicting accounts' of officer's killing
CCTV footage shows 'conflicting accounts' of officer's killingFiles retrieved from a CCTV server previously installed at the house of tambon Takong chief Praween Chankhlai in Nakhon Pathom show individuals present at a dinner party on Sept 6, which resulted in the death of a police officer, have given conflicting accounts. Pol Gen Surachate Hakparn, deputy national police chief, on Thursday said there were 15 security cameras installed at Mr Praween's house. After the shooting, two CCTV servers were removed and dumped into a canal behind a temple in tambon Takong in an apparent attempt to destroy evidence, he said. Pol Gen Surachate said the servers were retrieved and forensic police managed to salvage files related to 13 security cameras. Pol Gen Surachate said more than 56 individuals, including police and civilians, were at the party.
Source:Bangkok Post
September 16, 2023 02:52 UTC
MFP takes aim at minister for 'Boss' help
MFP takes aim at minister for 'Boss' helpEducation Minister Pol Gen Permpoon Chidchob gives his policies to educational executives and officials during a meeting on Thursday. (Photo: Education Minister Newsline Facebook)The Move Forward Party (MFP) called for the prime minister to reconsider the recent appointment of Education Minister Pol Gen Permpoon Chidchob due to allegations he helped Vorayuth "Boss" Yoovidhya, the scion of the family behind the Red Bull empire, escape prosecution. One of them is Pol Gen Permpoon, who was an assistant to the then-national police chief Pol Gen Somyot Poompunmuang. Instead of stopping to help the victim, Mr Vorayuth, then in his early 20s, drove off, dragging the victim's body 200 metres from the accident scene. He will be expected to consider the suitability of Pol Gen Permpoon for the education portfolio.
Source:Bangkok Post
September 16, 2023 01:29 UTC
MFP to elect new leader, executives Sept 23
(Photo: Chanat Katanyu)The Move Forward Party will hold a general assembly on Sept 23 to elect a new executive committee following the resignation of Pita Limjaroenrat as the party leader. Mr Pita’s resignation on Friday has left all executive committee members, including the party leader, in caretaking positions. Mr Pita, after consulting with the executive committee, decided to resign to make way for the party to elect a new leader, who could then take up the post of opposition leader, said Chaithawat Tulathon, the caretaker party secretary-general. The general assembly on Sept 23 will be held at the Thai Summit building, the party headquarters, in Huai Khwang district of Bangkok. About 500 representatives of party branches from across the country are expected to attend the meeting to elect the new leader and new executive committee.
Source:Bangkok Post
September 15, 2023 21:51 UTC
Royal Thai Navy denies nepotism claim by MFP MP
Royal Thai Navy denies nepotism claim by MFP MPA lack of sufficient documents from bidders is the reason the Royal Thai Navy is scrapping its first auction to salvage HTMS Sukhothai, according to Royal Thai Navy (RTN) spokesman Adm Pokkrong Monthatphalin. According to Mr Jirat, the RTN had approved a 200-million-baht budget to salvage the ship and organised an auction in August. About 15 bidders submitted documents on Aug 25 as required in the terms of service, but a "controversial" company submitted its bid three days later and received approval to participate, he said. He said the Royal Thai Fleet Division is assigned to supervise the ship salvage, adding it has set up a committee for the bidding process. "I would like to assure [the public] that the hiring of a ship salvage company and the acquisition of rescue equipment by the RTN are being processed with transparency."
Source:Bangkok Post
September 15, 2023 11:23 UTC
Asian markets join global rally as China data beats forecasts
Asian markets join global rally as China data beats forecastsTraders welcomed data showing Chinese retail sales grew more than expected last month, boosting hopes the economy is stabilising after an extended slowdown. (Photo: AFP)HONG KONG - Asian markets rallied Friday as forecast-busting Chinese data boosted hopes the world's number-two economy may be stabilising after an extended slowdown. The news out of Beijing, which followed a recent batch of encouraging figures, came a day after authorities further eased restrictions on banks in a bid to kickstart growth. Hong Kong and Shanghai led the Asian charge Friday after data showed Chinese retail sales and industrial production jumped more than expected last month. The figures were the latest suggesting the economy could be stabilising, with inflation, trade and services all showing a marked improvement in recent weeks.
Source:Bangkok Post
September 15, 2023 11:21 UTC
Revised fiscal deficit 14% higher than before
The deficit would be 100 billion baht, or 14%, higher than the 593 billon projected in the fiscal 2024 budget approved earlier by the Prayut Chan-o-cha government. That budget called for a 5.2% rise in spending to 3.35 trillion baht, including 717 billion baht for investment. The projected deficit represented a 14.7% drop from fiscal 2023 that ends on Sept 30. Public debt under the revised spending plan is expected to reach 64% of GDP by the end of the 2024 fiscal year, the government statement said. The government expects gross domestic product (GDP) growth of 3.2% next year, the statement said.
Source:Bangkok Post
September 14, 2023 17:20 UTC
ECB says high rates will last longer
Christine Lagarde, president of the European Central Bank (ECB), addresses a briefing after the bank’s interest-rate decision on Thursday in Frankfurt. (Photo: Bloomberg)FRANKFURT - The European Central Bank raised interest rates for the 10th consecutive time as President Christine Lagarde signalled a shift in gear towards keeping them high to choke inflation out of the economy. The Governing Council repeated language that it will keep rates at “sufficiently restrictive levels for as long as necessary”. The ECB decision is the first of several across developed economies over the coming days. The Bank of England, the Swiss National Bank and central banks in Sweden and Norway will review their policy rates on Sept 21.
Source:Bangkok Post
September 14, 2023 15:08 UTC
Mafia blitz spurs gun amnesty
Mafia blitz spurs gun amnestyPolice display weapons seized in a crackdown on illegal firearms across the country at the police training centre in Muang Thong Thani, Nonthaburi, in July. Mr Srettha has assigned Deputy Prime Minister and Interior Minister Anutin Charnvirakul to form a special team to implement the month-long amnesty, said Chai Wacharonke, government spokesman. The operation was ordered by Mr Anutin in response to the murder of Pol Maj Sivakorn Saibua, an officer of Highway Police Division 2, in Nakhon Pathom. Pol Maj Sivakorn reportedly refused to agree to Mr Praween's request before a gunman killed him. Deputy national police chief Pol Gen Surachate Hakparn said two cars believed to be used by the suspects when fleeing the scene were found at a firm linked with Mr Praween.
Source:Bangkok Post
September 14, 2023 13:59 UTC
Tourism ‘restart’ to bring 40m arrivals next year
(Photo: Apichart Jinakul)The government has measures in place to “restart tourism” and expects 40 million visitors and 3.1 trillion baht in tourism-related revenue next year, according to a spokesman. “Tourism is the only economic engine that can still run and is expected to generate substantial revenue for the country,” Mr Chai said. Total tourism revenue last year was 600 billion baht as the country was closed to foreign travellers for several months because of Covid restrictions. “This year the expected revenue from tourism will account for 80% of the figure in 2019 when tourism-related revenue peaked before the Covid-19 pandemic,” Mr Chai said. “These are the 10 measures to restart Thai tourism and make it a revenue engine that generates a quick win and new income for economic recovery,” Mr Chai said.
Source:Bangkok Post
September 14, 2023 06:13 UTC
Cabinet approves economic stimuli, including visa-free scheme
Cabinet approves economic stimuli, including visa-free schemePrime Minister Srettha Thavisin announces key resolutions from the first meeting of his cabinet at Government House on Wednesday. After the meeting at Government House, Prime Minister Srettha Thavisin said the visa-free scheme would operate from Sept 25 to Feb 29 next year for visitors from China and Kazakhstan. The scheme will be temporary, so its impact can be assessed," the prime minister said. The cabinet resolved to reduce the power tariff from 4.45 baht per unit to 4.10 baht from this month onwards. "I think the decrease is bigger than expected," the prime minister said.
Source:Bangkok Post
September 13, 2023 17:46 UTC
Organisers call gem fair a huge success
Organisers call gem fair a huge successThe results of the 68th Bangkok Gems and Jewelry Fair exceeded expectations, with nearly 40,000 visitors from 117 countries, Phusit Ratanakul Sereroengrit, director-general of the Department of International Trade Promotion (DITP), said yesterday. “Bangkok Gems is not just Asia’s most comprehensive gems and jewellery trade show but also a platform for international trade networks," he said. “The success of this event underscores the significance of Bangkok Gems and Thailand as a global hub for the gem and jewellery trade and manufacturing,” he said. The two organisers also spoke about their readiness for the next editions, disclosing that the Bangkok Gems & Jewelry Fair will be held twice during 2024. Those interested are encouraged to reserve their spots promptly to ensure they don’t miss out on the next event, organisers said.
Source:Bangkok Post
September 13, 2023 08:13 UTC
TAP Marks 28th Anniversary with Eco-friendly Initiative
Thai Asia Pacific Brewery Co., Ltd., or TAP, is driving its business while advancing towards sustainability and responsibility in areas that go beyond traditional businesses. Most recently, TAP has set an important milestone for environmental sustainability in Nonthaburi Province through the launch of the "Yellow Pridiyathorn Garden" Project. TAP is celebrating its 28th anniversary by honouring the project's name as a token of gratitude towards M.R. Aligning with Heineken®'s global sustainability mission "Brew a Better World," this year, TAP has initiated numerous projects to support the local communities. With TAP's commitment to sustainability, the business was awarded the "Green Industry Level 4" from the Ministry of Industry.
Source:Bangkok Post
September 12, 2023 14:56 UTC
Dead police officer blamed himself for subordinate's murder
Dead police officer blamed himself for subordinate's murderPolice in front of the house in Lam Luk Ka district, Pathum Thani, where Pol Col Vachira Yaothaisong, commander of Highway Police sub-division 2, was found dead with a gunshot wound on Monday. Pol Col Vachira appeared stressed out and said he could not sleep, Pol Maj Gen Jaroonkiat said. He had advised Pol Col Vachira to get plenty of rest, and try to sleep. A police friend later took Pol Col Vachira for a meal and then to sleep at a hotel in Muang Thong Thani. Pol Maj Gen Jaroonkiat said he had instructed Pol Col Vachira not to answer any phone calls.
Source:Bangkok Post
September 12, 2023 09:50 UTC