Analysts expect Bank of Thailand to maintain policy rate at meeting
Analysts expect Bank of Thailand to maintain policy rate at meetingListen to this articleA recovering domestic economy and the likelihood the United States Federal Reserve (Fed) might slow its interest rate cuts if inflation revives should prompt the Bank of Thailand (BoT) to maintain its policy rate at its meeting on Wednesday, say analysts. Kasikorn Securities and Kasikorn Research Center (K-Research) also expect the MPC meeting this week to vote unanimously to maintain the policy rate at 2.50%. However, the MPC is expected to be more accommodative in its monetary policy direction, signalling an opportunity to cut interest rates in the future. The MPC meeting this month is scheduled to publish economic and inflation forecasts, with K-Research projecting the central bank may maintain its projections for the economy and inflation this year. The central bank forecasts the economy to expand 2.6% in 2024, with a headline inflation rate of 0.6%.
Source:Bangkok Post
October 15, 2024 17:22 UTC
Rising culinary stars compete for chance at world finals in Singapore
Young culinary talents showcased their skills and creativity in the “Young Chef Young Waiter Young Mixologist Thailand” competition, held at a Bangkok hotel on Oct 9 this year. The winners will have the chance to represent Thailand at the World Finals in Singapore, competing against teams from other countries for a grand prize of US$15,000.
Source:Bangkok Post
October 15, 2024 09:27 UTC
House to finally debate amnesty for lese majeste cases
House to finally debate amnesty for lese majeste casesListen to this articleA controversial report on whether offences under the lese majeste law should be eligible for amnesty is finally set for a debate in parliament this week after two previous delays, according to the House panel in charge of the study. The report, which contains a proposal for the amnesty of political offenders, is up for debate on Thursday, said Sasinan Thammanithinan, a Bangkok MP for the People's Party and committee spokeswoman. The Chusak committee has discussed three options: offering amnesty to Section 112 offenders, not offering amnesty to lese majeste offenders, and offering conditional amnesty. He said the panel had looked particularly closely at denying amnesty to lese majeste offences of a deliberate nature but possibly granting amnesty to those who broke Section 112 without intending to insult the monarchy. "If parliament allows the committee's findings to stand, a hot potato will land in the government's lap," he said.
Source:Bangkok Post
October 15, 2024 02:08 UTC
17 hurt as tour bus hits truck
17 hurt as tour bus hits truckA Malaysian tour bus collided with a trailer truck in Sadao district in Songkhla on Monday, injuring 17 Malaysian tourists and a Thai tour guide. Police said the driver and the tour guide were trapped inside the bus. Seventeen Malaysian tourists sitting at the front of the bus were also injured, but the remaining passengers were able to exit the bus safely. The Thai tour guide suffered the most serious injuries, the police said. Police were questioning the truck driver and the Malaysian bus driver.
Source:Bangkok Post
October 14, 2024 15:37 UTC
Thai businesses are concerned about effect on oil prices, shipping costs and the local currency
A subsequent surge in global oil prices is expected, and Thailand, a major oil importer, is unlikely to avoid the impact. On Oct 3, Brent crude oil prices rose by 4.8%, closing at US$77.4 per barrel for November delivery, while West Texas Intermediate crude oil prices increased by 5.1% to $73.6 per barrel. Mr Veerapat said the ministry will continue to regulate domestic oil prices through subsidy programmes using the Oil Fuel Fund, which is in the red. In 2022, the Russian invasion of Ukraine caused global oil prices to spike at more than $100 per barrel, plunging the Oil Fuel Fund into a huge loss of 135 billion baht that year. Oil prices could rise substantially higher if Israel's allies, led by the US, decide to attack Iran's oil facilities, said Mr Nattapol.
Source:Bangkok Post
October 14, 2024 12:20 UTC
New cap for private hospital claims
The commitment designed to help avert decisions by many private-run hospitals considering leaving the healthcare scheme by year-end, said Labour Minister Phiphat Ratchakitprakarn. This reimbursement rate has not been adjusted to match inflation for the past five years, while the Private Hospital Association has previously asked the rate be adjusted to 15,000 baht. The association says several of the 97 private hospitals under the social security system were mulling whether they should remain in the system. Sometimes, the promised 12,000 reimbursement rate was reduced later in the year to 8,000 baht, creating a level of uncertainty with which Mr Phiphat said he couldn't agree. Even though the rates offered under the social security system may be lower than those offered under the NHSO's health scheme, the social security system does not impose a reimbursement ceiling.
Source:Bangkok Post
October 14, 2024 11:31 UTC
Balancing geopolitics
Geopolitics has the potential to significantly influence global trade dynamics, particularly as tensions rise and alliances shift among nations. KEY FACTORBenjarong Suwankiri, senior executive vice-president of the Export-Import Bank of Thailand, said geopolitics has become a crucial factor in strategic planning. According to Mr Benjarong, geopolitics is a critical factor in determining how external environments impact Thai businesses and the economy. For example, Thailand exports rubber products and electrical appliances to the US as substitutes for Chinese goods. However, this substitution is limited, as the products the US imports from China are not the same as those Thailand exports.
Source:Bangkok Post
October 14, 2024 00:18 UTC
Vietnam, China sign QR code payment, agriculture deals as leaders meet
Vietnam, China sign QR code payment, agriculture deals as leaders meetListen to this articleHANOI - Vietnam and China signed 10 agreements ranging from agriculture cooperation to cross-border QR code payments on Sunday, during Chinese Premier Li Qiang's three-day visit to Hanoi, as the two neighbours seek to boost ties. The signing ceremony followed Li's meeting with Vietnamese Prime Minister Pham Minh Chinh. The Vietnamese Prime Minister Pham Minh Chinh asked China to boost agricultural trade with Vietnam, open doors to Vietnamese farm produce and enhance customs clearance at borders, state broadcaster Vietnam Television (VTV) reported. Vietnam and China also signed a document on updating progress on cross-border railway links related to site survey. "The Vietnamese prime minister also suggested the two countries cooperate to implement signed documents on railway links, modern railway development effectively," VTV reported.
Source:Bangkok Post
October 13, 2024 18:56 UTC
Thai worker's body stuck in Israel as scared co-workers also stay put
Thai worker's body stuck in Israel as scared co-workers also stay putListen to this articleLabour officials visit and console Phrueksa Meeram, centre, at her house in Krasang district of Thailand's Buri Ram province on Saturday. The family of Nisant Meeram, 42, said they were saddened and worried as they had not been informed of the return of his body from northern Israel. Another Thai workmate who identified himself only as M said via a video call on Sunday that they were among 24 Thai workers in the apple orchard and just before the explosion, four rows of Thai workers were picking up apples. When workers heard an explosion, they ducked and later a worker shouted that Nisant was hit and killed, M said. Soldiers took Nisant’s body from the orchard and no other Thai workers saw the body again, M said.
Source:Bangkok Post
October 13, 2024 15:29 UTC
Super full moon expected over Thailand all Thursday night
Super full moon expected over Thailand all Thursday nightListen to this articleFILE PHOTO: The full moon over the Phra Nakhon Khiri Historical Park in Phetchaburi province in May. (Photo: Chanat Katanyu)People will be able to see an extra-large appearance of the moon throughout Thursday night in Thailand as it reaches its closest point to the Earth this year. Inviting the public to admire the “super full moon”, the National Astronomical Research Institute of Thailand (Narit) said that on Thursday night the moon would be about 357,358 kilometres from the Earth. People can see the super full moon in the east at nightfall and admire it throughout the night until the next morning, Narit said.
Source:Bangkok Post
October 13, 2024 15:09 UTC
Thai celebrity meets police on iCon direct sales controversy
Thai celebrity meets police on iCon direct sales controversyListen to this articleKan Kantathavorn arrives at the Central Investigation Bureau in Bangkok on Sunday. (Police photo)Well-known TV host and actor Kan Kantathavorn met consumer protection police on Sunday morning for interrogation about complaints concerning The iCon Group direct sales company. Mr Kan arrived at the Central Investigation Bureau with his lawyer for questioning by consumer protection police. About 500 people have filed complaints with consumer protection police about losses amounting to about 178 million baht related to their participation in the direct sales business of The iCon Group. Warathaphon Waratyaworrakul, 41, chief executive of the group, met consumer protection police on Saturday and said he was saddened upon learning that people have suffered losses investing in the company’s direct sales business.
Source:Bangkok Post
October 13, 2024 05:30 UTC
'Amazing Thailand' just won't go away
'Amazing Thailand' just won't go awayListen to this articleI must confess to groaning just a little this week upon seeing the headline "Amazing Thailand is back". We were informed that next year we are in for "Amazing Thailand Grand Tourism Year" with the aim to attract more than 40 million visitors to these sunny shores. When the "Amazing Thailand" slogan was first introduced back in the late 1990s it felt a little over the top. At times things can be amazingly confusing or amazingly absurd and on occasions even amazingly amazing. Over the years there have been several similar incidents concerning power poles which have the alarming tendency to fall like dominoes.
Source:Bangkok Post
October 12, 2024 22:47 UTC
Pisal's fate still not known, PTP says
He also added that despite having protection under immunity as an MP, Gen Pisal is required to undergo legal procedures as he had the arrest warrant issued by the Narathiwat Provincial Court. "The absence of Gen Pisal is not related to the party. Mr Phumtham said he was not aware of the fact that Gen Pisal was reportedly granted leave to receive medical treatment overseas. According to an earlier report, Gen Pisal filed a leave of absence from the House until Oct 30, after the statute's expiry. The Tak Bai tragedy occurred on Oct 25, 2004, when security forces dispersed a rally in front of the police station in Tak Bai district.
Source:Bangkok Post
October 12, 2024 03:38 UTC
Warrants sought in iCon case
Warrants sought in iCon caseLawyer Sittra Biabungkerd, left, and Tankhun Jitt-itsara, centre, show copies of luxury watches and celebrities involved with The iCon Group for alleged public fraud and money laundering, at the Central Investigation Bureau's complaint centre yesterday. Royal Thai PoliceThe Royal Thai Police (RTP) plan to ask a criminal court for arrest warrants against all parties involved in The iCon Group case including its owner after receiving complaints from 161 people who lost about 62 million baht to the suspected pyramid scheme. Pol Col Uthane Nuipin, deputy RTP spokesman, gave an update on the progress of the case yesterday, listing the number of victims and the alleged damages. Yesterday morning, the Consumer Protection Police Division (CPPD) and the Office of the Consumer Protection Board (OCPB) searched the company's premises to gather information. An investigation showed the company's annual revenue reached up to 5 billion baht, despite having only 15 products for sale.
Source:Bangkok Post
October 11, 2024 22:36 UTC
South faces heavy rain, flood risk
South faces heavy rain, flood riskVehicles travel through floodwater in Hua Hin district on Wednesday morning. (Photo: Chaiwat Satyaem)People in the South are being warned to brace for torrential rains that started on Wednesday and will continue until Saturday, potentially triggering flash floods. Heavy rain and strong winds have been affecting parts of Phetchaburi since late Tuesday night. In Chai Nat, flooding has improved, with the water level in the Chao Phraya River receding to a level well below the river bank. The situation in Ayutthaya, which was receiving the northern run-off from the Chao Phraya, intensified on Wednesday, with larger areas hit by floods.
Source:Bangkok Post
October 11, 2024 14:59 UTC