Ratchaporn Poolsawadee, president of the Tourism Association of Koh Samui, said each RT-PCR test in Koh Samui costs 2,200 baht. "When the viral situation is under control in 1-2 months, the government should relax the rule by requiring just one RT-PCR test and allowing an ATK for the second test," said Mr Ratchaporn. He said a RT-PCR test in Pattaya costs around 1,600 baht. Moreover, the back-end systems of tracking apps like MorChana and COSTE have to be fully synchronised to effectively alert tourists to take the second test, he said. Assuming Test & Go resumes next month, TAT predicts in the first quarter Thailand will earn 26 billion baht from 338,645 international tourists.

State vows to maintain price controlsThe government has pledged to cap the prices of diesel and cooking gas for as long as possible to stabilise the costs of consumer goods. The government is considering finding an additional budget to shore up the state Oil Fund used to subsidise retail diesel prices." The Energy Ministry reported that as of Jan 16, the state Oil Fund was 8.7 billion baht in the red. The borrowing is used to subsidise retail diesel prices, which are now capped at 30 baht per litre. Mr Supattanapong said earlier the government expects the first batch of 20 billion baht to help cap diesel prices for a period of only four months.

Central bank to issue 20-baht polymer banknotes in MarchThe Bank of Thailand plans to start issuing 20-baht polymer banknotes on March 24. The Bank of Thailand plans to start issuing 20-baht polymer banknotes on March 24. This allows polymer banknotes to last significantly longer than paper banknotes. Advanced anti-counterfeit technologies are being used to ensure fake polymer banknotes would be difficult to produce, said the central bank. The central bank prints about 1.8 billion banknotes each year, of which 600 million are 20-baht banknotes.

New contracts have AGE keen on revenueTransport service is projected to help AGE earn more revenue this year. SET-listed coal trader Asia Green Energy (AGE) expects to double its logistics revenue in 2022 after being awarded contracts worth 550 million baht to transport cement and silica sand for three years. AGE recently signed contracts to transport the two products, amounting to 3.2 million tonnes in total. The company also plans to offer a logistics service in the agricultural sector through its subsidiary AGE Agri Trading Co. The company's coal trade volume is predicted to be 6.5 million tonnes this year, up from 5 million tonnes in 2021, he said.

Move Forward was allocated Bt30,145,874.86 from the fund, which comes from taxpayers. The party’s secretary-general, Chaithawat Tulathon, on Friday thanked taxpayers who donated to Move Forward and promised the party would spend the subsidy efficiently for its development as a political institution. When filling in their annual income tax forms, taxpayers have an option to donate a portion of their tax money (up to Bt500) to a political party of their choice.

Death toll increased by 13, while 8,641 patients were cured and allowed to leave hospitals. The country’s total caseload from Covid-19 stands at 2,361,702 – 2,256,982 of whom have recovered, 82,720 are still in hospitals and 22,000 have died. Separately, another 46,078 people were given their first Covid-19 shot in the last 24 hours, 110,971 their second shot and 366,041 a booster, bringing the total number of Covid-19 vaccine doses administered nationwide to 111,323,026. According to Worldometer, confirmed cases globally had risen to 343.27 million on Friday, 276.42 million of whom have recovered, 61.26 million are active cases (95,913 in severe condition) and 5.59 million have died (up by 9,084).

Thai GDP expected to grow 3.5%-4.5% in 2022 despite Omicron - FinMinFILE PHOTO: Finance Minister Arkhom Termpittayapaisith speaks at the "Bangkok Post International Forum 2021: Unleashing the Future: A Glimpse into 2022 and Beyond” on Dec 2, 2021. (Bangkok Post photo)The economy is still expected to grow 3.5%-4.5% this year driven by fiscal policy, exports and investment, despite an outbreak of the Omicron coronavirus variant remaining a challenge, the finance minister said on Thursday. After earlier 1.5 trillion baht borrowing plans, the government can still borrow a further 10% of gross domestic product (GDP) if needed, he said. With the price of goods rising, he said the government would try to keep inflation within its 1%-3% target range. The BoT sees inflation at 1.7% in 2022 and 1.4% next year.

Tourism trade wants test price cutA medical worker performs a nasal swab test on a boy. All entrants enrolling in this scheme, including Thais and expats, must prebook two RT-PCR tests and two hotel rooms on arrival and day 5. “When the viral situation is under control in the next 1-2 months, the government should relax the rule by requiring just one RT-PCR test and allowing an ATK for the second test to see more pickup,” said Mr Ratchaporn. Thanet Supornsahasrungsi, acting president of the Chon Buri Tourism Council, said the government must control the price of RT-PCR tests at 1,300 baht which is the same rate the authority currently helps subsidise the second test for Test & Go registrants before the programme was suspended. Moreover, tracking apps, like MorChana and COSTE back-end system, must be fully synchronised to effectively alert tourists to undergo the second test.

Hoteliers want 90% tax cut extendedA staff member cleans the pool at a Bangkok hotel. The hotel industry is facing a slowdown because of the temporary suspension of the Test & Go scheme. AFPHoteliers are urging the government to extend the 90% reduction of the land and buildings tax for another two years or collect a new levy of 20-30% instead as the tourism industry is far from recovering. To cushion the impact of the pandemic in June 2020 the cabinet offered a cut of 90% on the land and buildings tax. Their financial woes mean hoteliers are not prepared to pay the full rate of the tax this year or next year, said Mrs Marisa.

PTC readies IPO amid rail expansion planMr Weerawat expects the company's initial public offering and share trading to begin during the first quarter this year. Premier Tank Corporation Plc (PTC) is preparing to be the first fuel tank storage provider in Thailand to raise funds on the Market for Alternative Investment (MAI). The rail transport extension project is expected to require a budget of 110-120 million baht. Its total revenue in the three years from 2018 to 2020 stood at 162 million baht, 176 million and 253 million respectively, with net profit recorded at 75 million baht, 54 million and 111 million respectively, according to the company. Revenue in the first nine months of last year dropped by 11% to 166 million baht from the same period in 2020.

Egypt make Cup of Nations last 16 as six teams advanceMohamed Salah (centre) celebrates after Egypt scored against SudanYAOUNDE: Seven-time champions Egypt clinched a place in the Africa Cup of Nations last 16 on Wednesday by defeating neighbours Sudan 1-0, a result which sent five other countries including Ivory Coast through as well. Mohamed Abdelmonem's header at a corner 10 minutes before half-time in Yaounde sent the Pharaohs through and eliminated Sudan, and also saw Ivory Coast, Mali, Gambia, Malawi and Cape Verde qualify without kicking a ball. "I think Egypt deserved to win this game without any doubt given the opportunities we created and the football we played," said Egypt coach Carlos Queiroz. Ivory Coast lead Group E with four points and can finish no lower than third regardless of their result Thursday against reigning champions Algeria. The Carthage Eagles, the 2004 winners, will qualify for the last 16 unless they suffer a defeat by six goals or more.

Finance Minister Hong Nam-ki also stressed the need to run the economic policy in a delicate manner in a bid to pursue the harmonized operation with the monetary policy. "The South Korean economy faces complicated conditions at home and abroad that could constrain its growth," Hong said at a government meeting on the economy. He cited virus situations, external economic risks and fiscal conditions as major factors that could weigh on the economic growth. The minister raised the need to meet many policy goals via a "policy mix" under which the government supports vulnerable people while the central bank tightens monetary policy. The finance ministry plans to propose an extra budget of some 14 trillion won ($11.8 billion) to support pandemic-hit small merchants.

The indulgent desserts of Smile Menu are Orange marmalade cake, Lemon poppy seed cake, Thai style fried banana cake and Chocolate tahini brownie. The desserts will be available on all domestic and international routes (except WE419/420) from December 25, 2019 to January 1, 2020, or until the patisseries run out.

Digital lenders focusing on risk controlDigital loan providers are emphasising risk control because of economic uncertainties, the continued outbreak and tougher competition from new players. Monix Co Ltd, a digital loan provider under Siam Commercial Bank (SCB), also plans to expand prudently, balancing loan growth and asset quality. Krungthai Bank (KTB) has been testing digital loan service through its mobile banking app, Krungthai Next. KTB offered the digital loans to all segments of Pao Tang and Tung Ngern users as a pilot project. Given the new service and client base, the bank plans to gradually explore the market using strong risk control, said Krairit Euchukanonchai, KTB vice-chairman.

Binance entry set to change industryGulf Energy Development teams up with Binance to study a digital asset exchange in Thailand. (Photo captured from Gulf Energy Development Plc website)Binance's entry into the Thai digital asset industry should increase competition, decrease trading fees and encourage productivity and improvements in service quality, according to leading market participants. Once it gains 30-40% of the market share in each industry, it looks to invest in other businesses, he said. With cooperation from Binance, Gulf has a chance of becoming the largest player in the Thai digital asset industry as well, he said. According to CoinGecko.com, Binance ranked first among 500 cryptocurrency trading platforms in terms of trading volume at US$13.9 billion per day.