TISI decreases for first time in 7 months
The Thailand Industry Sentiment Index (TISI) decreased for the first time in seven months to 92.6 points during the festive month of December last year, says the Federation of Thai Industries (FTI). The December TISI was based on a survey of 1,303 enterprises across 45 industries under the FTI. The FTI is concerned economic contraction, especially in Europe, will affect Thai shipments and economic growth this year. The World Bank has already warned of a global recession in 2023 after central banks raised interest rates in response to high inflation. Global crude oil prices came first, accounting for 54.4% of the vote, followed by domestic politics (40.2%) and the domestic economy (37.7%).
Source:Bangkok Post
January 18, 2023 03:55 UTC
Thailand's untouchables
(Police Photo)Pol Maj Gen Jaroonkiat Pankaew, commander of the Anti-Corruption Division (ACD), has vowed to turn the agency into a high-calibre unit combatting corruption. In the past, the ACD was dubbed "the graveyard" as officers who committed offences were banished there as a punishment, according to Pol Maj Gen Jaroonkiat. Some officers worked here because they wanted to add to their job credentials and then sought transfers to other units,'' Pol Maj Gen Jaroonkiat said. As such, the level of efficiency was low," Pol Maj Gen Jaroonkiat said. Even though he has brought many perpetrators to justice, Pol Maj Gen Jaroonkiat said he is still not happy with his performance.
Source:Bangkok Post
January 18, 2023 03:46 UTC
PTTEP exits Brazil with new focus on Asia
PTTEP exits Brazil with new focus on AsiaThe Erawan gas field in the Gulf of Thailand. PTT Exploration and Production Plc (PTTEP) has exited its petroleum exploration and production business in Brazil by dissolving its subsidiary Participations and Explorations Corporation (PEC), as the company aims to focus more on investments in Asia. PEC halted its business operations last month after PTTEP decided last September to sell another subsidiary – PTTEP Brazil Investment BV – and all its other investments in Brazil. PTTEP Brazil Investment owns a 25% share in the offshore Barreirinhas AP1 crude oil exploration and production project as well as a 20% share in the BM-ES-23 project. The divestment marks the withdrawal of all of PTTEP's investments from Angola.
Source:Bangkok Post
January 17, 2023 21:29 UTC
PM tells people to vote wisely
PM tells people to vote wiselyPrime Minister Gen Prayut Chan-o-cha casts his votes for the Bangkok governor and city councillor at a polling station in Soi Pradiphat 5, Phaya Thai district, on May 22, 2022. (Photo: Nutthawat Wicheanbut)Prime Minister Prayut Chan-o-cha has expressed concern about the next general election and called on people to vote wisely when casting their ballots. It's not my place to say who is good or bad," Gen Prayut said. "But it is most important to act in a way that contributes to the country's strength and stability," the prime minister said. However, Mr Seree said he believed most senators would eventually vote for a single candidate.
Source:Bangkok Post
January 17, 2023 13:11 UTC
Tough penalties for foreign nominees
Tough penalties for foreign nomineesThe Department of Business Development is warning Thai citizens who are acting as nominees for Chinese-owned businesses along Yaowarat Road that they face up to three years in prison and/or fines of up to one million baht. Thosapone Dansuputra, director-general of the department, yesterday reminded the public of the penalties for violating restrictions on foreign-run businesses in Thailand. Officials from the Department of Business Development and Labour Ministry regularly inspect foreign-owned businesses to ensure their compliance with the regulation, Mr Thosapone said. "Thai citizens who are foreigners' nominees and act as co-investors without any actual investment are liable to a jail term of up to three years and/or a fine of 100,000-1 million baht. Last year, Yaowarat Road was ranked eight on the list of the world's "coolest" streets by Time Out magazine for its charming mix of history, food and local activities.
Source:Bangkok Post
January 16, 2023 14:52 UTC
Chuan backs earlier last debate
Chuan backs earlier last debateChuan: Admitsquorum an issueHouse Speaker Chuan Leekpai disagrees with a government plan to hold a general debate after Feb 15, saying the debate should be held early next month, as per the opposition's request. Under the government's plan, the debate is expected to be held either on Feb 15–16 or Feb 23–24, but Mr Chuan yesterday said the debate should take place next month. "The opposition has argued the schedule proposed by the government is too far off, as the opposition tabled a motion for a general debate in December," he said. "The debate -- under Section 152 of the constitution -- is held without a vote." Regarding frequent cancellations due to the lack of quorum, Mr Chuan admitted the government is struggling to control MP defections.
Source:Bangkok Post
January 16, 2023 04:03 UTC
Evaluating the China effect
"The Chinese economy already bottomed out in the second half of 2022 because of their zero-Covid policy," he told the Bangkok Post. The People's Bank of China is also projected to implement measures that provide support for specific businesses, especially vulnerable enterprises. "In 2023, we believe China reopening for domestic and international travel is the most important easing measure that will likely benefit the Thai economy," he said. "After reopening, China will return to competing with other countries," said Mr Kriengkrai. J.P. Morgan analysts are more optimistic about the Chinese economy, upgrading its growth forecast this year to 5.4% from 4.7-4.8%.
Source:Bangkok Post
January 16, 2023 03:59 UTC
House paves way for first Thai casino
The House of Representatives on Thursday approved a full report of the proposal to set up a casino-entertainment zone in Thailand following a three-hour meeting to discuss the matter. Sanhapot Suksrimuang, a committee member from the Palang Pracharath Party (PPRP), told the House the study took 240 days and its report was comprehensive. The MPs spent about two and a half hours making observations and suggestions before endorsing the report. Meanwhile, Thanakorn Komkrit, secretary-general of the Stop Gambling Foundation, criticised the committee report as lopsided, saying it hardly touched on how to prevent illegal gambling dens and widespread online gambling. Despite spending eight months studying the issue, the committee also failed to look into the exploitation of casinos by criminal gangs to launder dirty money, he said.
Source:Bangkok Post
January 14, 2023 15:23 UTC
'Tuhao' case report sent to prosecutors
'Tuhao' case report sent to prosecutorsChinese businessman Chaiyanat "Tuhao" Kornchayanant, 40, in police custody on Nov 23, 2022. (Photo: Pornprom Satrabhaya)Police forwarded their investigation report to prosecutors on Friday concerning a narcotics and money laundering case brought against businessman and suspected crime boss Chaiyanat "Tuhao" Kornchayanant and scores of other suspects. Afterward, the court approved a police request for an arrest warrant for Mr Chaiyanat, one of the prime suspects in the case. He was later charged with money laundering and for his alleged involvement with a Chinese transnational criminal gang, said Pol Gen Damrongsak. "I'm very confident the report contains solid evidence to prove all of the suspects guilty in court," Pol Gen Damrongsak added.
Source:Bangkok Post
January 14, 2023 03:39 UTC
Covid-jab rules for travellers confirmed
(Photo: AFP)The requirement that all international travellers show proof of full Covid-19 vaccination before boarding flights to Thailand will take effect from Sunday, the Civil Aviation Authority of Thailand (CAAT) said on Saturday. The aviation regulator has formally notified all parties about the change to arrival rules for international travellers aged 18 and over. The vaccination requirement was scrapped last October but it has been revived as travel from China is about to resume worldwide on a large scale. Public Health Minister Anutin Charnvirakul has said that any rules adopted in Thailand must not discriminate against any particular country. Thai passport holders or travellers in transit are not required to submit proof of vaccination or hold a Covid-19 insurance policy.
Source:Bangkok Post
January 08, 2023 03:27 UTC
Proof of Covid jabs for all visitors revived
As well, visitors who will be travelling onward from Thailand to a country that requires a negative RT-PCR test result must provide proof of insurance. India this week imposed a similar mandate for visitors from five countries: Thailand, China (including Hong Kong), South Korea, Japan and Singapore. Thailand last October scrapped the requirement for proof of vaccination and antigen test results as well as health insurance. Visitors who will be travelling to countries that require proof of a negative PCR test should stay at hotels with standard disease control measures and Covid-19 test services, he added. Health authorities, he said, would continue monitoring the local Covid situation and could adjust measures to cope with changing risks.
Source:Bangkok Post
January 06, 2023 02:50 UTC
Gulf eyes indirect route to taking over AIS
Gulf completed its tender offer for a stake in InTouch in 2021, becoming the biggest shareholder in the tech and telecom-oriented holding company. In December 2022, Gulf, through its subsidiary Gulf Ventures, acquired a 41.1% stake in SET-listed satellite service provider Thaicom from InTouch. So, the alternative for Gulf is to purchase more shares of InTouch -- the biggest shareholder of AIS -- from Singtel, which owns around 27% of InTouch's shares, he said. Following such a move, Gulf may pursue a share swap to become the direct major shareholder of AIS while delisting InTouch from the Stock Exchange of Thailand (SET). Mr Pisut said Gulf is unlikely to grab additional shares in the tender offer as the market price of Thaicom shares is now higher than 9.92 baht.
Source:Bangkok Post
January 05, 2023 09:47 UTC
Search continues for 5 seamen from sunken navy ship HTMS Sukhothai
Search continues for 5 seamen from sunken navy ship HTMS SukhothaiA rubber boat with navy soldiers on board searches around an island off Chumphon province for the missing crew members from the sunken HTMS Sukhothai. (Photo supplied)The Royal Thai Navy is continuing with the search by air and sea for the five crew members of the sunken warship HTMS Sukhothai still missing at sea, navy spokesman Adm Pokkrong Monthatpalin said on Sunday. By sea, special operation teams of navy SEALs - with a speed boat and four rubber boats - were scouring Chumphon's Klaeb, Yung, Noo, Maew and Kula islands. HTMS Sukhothai with 105 crew on board sank in a storm off Bang Saphan district, Prachuap Khiri Khan province, on Dec 18. Five crew members were still missing as no more bodies had been recovered since Thursday.
Source:Bangkok Post
January 01, 2023 10:51 UTC
Tiptoeing through the minefield
Tiptoeing through the minefield2023 should be the first time in three years Thailand can fully return to normal practices after Covid-19 was downgraded to endemic in October 2022. In 2023, both deposit and loan rates will continue to increase in accordance with the policy rate hike. Banks have raised the minimum retail rate at a lower level, compared with the minimum loan rate and minimum overdraft rate. Inflation and recessionCentral banks across the world have simultaneously hiked interest rates to tame runaway inflation in 2022. It will be at a slower rate from 2022, which had an average of 6.1% over the 11 months.
Source:Bangkok Post
December 31, 2022 12:26 UTC
Vietnam pulls off Asia's fastest growth
Vietnam pulls off Asia's fastest growthA vendor walks past a shop selling Christmas decorations in downtown Hanoi, Vietnam, on Dec 13, 2022. Manufacturing, which grew 8.1% during the year, was the main driver of economic growth, according to Nguyen Thi Huong, head of Vietnam's General Statistics Office. ADB forecasts Vietnam's 2023 growth to be 6.3% as major trade partners see a slowdown. The weakness was already evident in the headline trade data. Vietnam will struggle to keep inflation in check next year, according to Bui Thuy Hang, the central bank's deputy head of monetary policy department.
Source:Bangkok Post
December 31, 2022 03:25 UTC