Prayut invites Japanese businesses to invest in EEC
Prayut also thanked the Japanese government and businessmen for believing in Thailand’s potential and for supporting the country’s economic and social development. The premier said Asian nations must support multilateral trade, with the World Trade Organisation serving as the moderator of rules. He promised that Thailand would develop its business environment to facilitate international trade and investment and support foreign businesses. Prayut went on to say that Thailand would firmly support multilateral trade, especially the idea of the Free Trade Area of the Asia-Pacific (FTAAP). Prayut added that Thailand has now started its transition to clean energy by supporting and boosting the electric vehicle industry.
Source:The Nation Bangkok
May 26, 2022 09:53 UTC
Thailand seeks cooperation from Vietnam to boost rice price
He said his ministry would seek cooperation from the Thai agriculture ministry on five issues:- Food security cooperation to increase value of crops- Cooperation to boost the strength of farmers. - Cooperation to help Vietnamese farmers transition to farm machines- Training in agricultural knowledge- Cooperation on sanitary and phytosanitary (SPS) measures. Alongkorn said Thailand and Vietnam have a joint committee to function as a mechanism to facilitate agricultural and SPS cooperation between the two countries. • The Thai side will ask Vietnam to allocate quota for Thai trucks to transport fruits vie Vietnam to China to reduce the chances of Thai fruits going rotten. • Thailand will ask Vietnam to inform the name of its contact point as soon as possible before the next SPS can be held.
Source:The Nation Bangkok
May 26, 2022 08:02 UTC
OR seeks partners to grow non-oil projects
Petrol stations, convenience stores and other non-oil businesses operate on a brick-and-mortar model in Thailand and 10 Asian countries. The new partnership aims to generate revenue for 13,000 SMEs and startups and create 145,000 new jobs by 2030, said Ms Jiraphon. OR wants startups and SMEs to join the company to increase overseas sales, covering 100 countries. Under OR's inclusive growth concept, the company aims to help startups and SMEs overcome hindrances and enjoy good business outcomes together. OR aims to rack up 40 billion baht in earnings before interest, taxes, depreciation and amortisation in the next decade, up from 20 billion last year, said Ms Jiraphon.
Source:Bangkok Post
May 26, 2022 07:39 UTC
Collection surpasses target in first 7 months
Collection surpasses target in first 7 monthsThe government's revenue collection in the first seven months of fiscal 2022 surpassed its target by 3.7% as a result of the expansion of product import volume, in line with the economic recovery, says Pornchai Thiraveja, director-general of the Fiscal Policy Office. He said the Revenue Department's collection during the period exceeded the target because of higher collection from personal and corporate income tax. The government's net revenue collection in the first seven months of fiscal 2022 stood at 1.27 trillion baht, exceeding the target by 45.8 billion baht or 3.7%. The Excise Department collected 320 billion baht, down 3.3% year-on-year or 11.1 billion baht, while the Customs Department collected revenue of 61.7 billion baht, up 4.8% year-on-year or 2.83 billion baht. The government projected expenses of 3.1 trillion baht in fiscal 2022, with a revenue target of 2.4 trillion baht.
Source:Bangkok Post
May 26, 2022 07:39 UTC
Cryptocurrency, digital token transfers exempted from VAT
According to Royal Decrees published on the Royal Gazette website on Tuesday, the transfer of cryptocurrencies or digital tokens at digital asset exchanges under the laws has been exempted from VAT collection.
Source:The Nation Bangkok
May 25, 2022 09:41 UTC
People in some areas won't need to wear face masks while outdoors from mid-June
The Covid-19 situation in the country is improving quickly and faster than expected, Kiattiphum said. He believed Thailand would enter endemic transition in July as planned. In this regard, public health agencies must prepare activities to encourage people to coexist safely with Covid-19, he said.
Source:The Nation Bangkok
May 25, 2022 06:16 UTC
Oil, gas firms use Ukraine war to resist climate efforts: report
Oil, gas firms use Ukraine war to resist climate efforts: reportUS oil and gas companies spread the misleading message that US climate change policies were to blame for rising energy pricesPARIS - US oil and gas firms took advantage of energy worries over the Ukraine war to push their fossil fuel products and resist climate change regulatory measures, an analysis showed on Wednesday. It said the companies spread the misleading message that US climate change policies were to blame for rising energy prices and that more US-produced oil and gas was the solution. They pushed "long-standing policy asks relating to the continued expansion of oil and gas," despite the widely-documented role such operations play in driving deadly global climate change, InfluenceMap said. It also analysed public statements by oil and gas executives, finding that several of them publicly blamed climate change policies or promoted US-produced energy as part of the solution to the energy crisis. But analysts told AFP in March that swings in energy prices in 2022 were due to a variety of factors, including a rebound in economic activity following the Covid-19 pandemic.
Source:Bangkok Post
May 25, 2022 05:52 UTC
Bt50m worth of fake goods confiscated in Saraburi
The counterfeits were smuggled in from China and stored at the houseware for retail distribution nationwide. The impounded lots, worth a total of Bt50 million, mostly included glasses, hats, and buckles, said DSI official, adding that a sum of Bt300 million was also sieged. Representatives of the brands' right holders were present at the announcement. Thailand has been stepping up the crackdown on fake brand products as they have a direct impact on the Thai economy, DSI Director-General Paisit Wongmuang.
Source:The Nation Bangkok
May 25, 2022 05:39 UTC
Top 50 Richest People Have Lost More Than Half a Trillion Dollars This Year
The drop comes as the stock market flirts with its first bear market since the beginning of the pandemic. Mr. Musk, Tesla Inc chief executive and the world's richest man, currently has a net worth of $201 billion. On paper, he has lost $69.1 billion so far this year, the most of any billionaire currently on the top 50 list, according to the index. Mr. Bezos still has a net worth of $131 billion and Mr. Arnault is worth $123 billion. Microsoft Corp co-founder Bill Gates is currently worth $116 billion but has lost $21.7 billion in wealth this year.
Source:Bangkok Post
May 25, 2022 04:50 UTC
Cabinet approves 'We Travel Together' extension
Cabinet approves 'We Travel Together' extensionฺBang Saen beach in Chon Buri is crowded with tourists during the Songkran holiday in April. (Photo: Pattarapong Chatpattarasill)The cabinet on Tuesday approved the extension of the "Rao Tiew Duay Kan’" (We Travel Together) tourism stimulus campaign to cover an additional 1.5 million people. The cabinet meeting, chaired by Prime Minister Prayut Chan-o-cha, approved the fourth-phase extension of the stimulus package, with the deadline extended from May 31 to Sept 30, government spokesman Thanakorn Wangboonkongchana said. Before the cabinet meeting, Gen Prayut said the Finance Ministry and the National Economic and Social Development Council (NESDC) were considering extending the We Travel Together scheme. Total expenditure from this phase was 8.4 billion baht, of which 7.1 billion baht was for hotel rooms, 1.25 billion baht for food and drink via vouchers, and the remainder for air tickets.
Source:Bangkok Post
May 25, 2022 00:26 UTC
India to limit sugar exports in new risk to global food prices
India to limit sugar exports in new risk to global food pricesFILE PHOTO: Vendors load sugarcane onto a vehicle at a wholesale market in Kolkata, India, Oct 9, 2018. India is expected to produce 35 million tons this season and consume 27 million tons, according to the Indian Sugar Mills Association. An export halt is likely to have a significant impact on the global sugar market given India is a major producer and exporter. Once shipments hit 9 million tons, exporters will have to apply for permits to send the remaining 1 million tons, the person said. An estimated 7.1 million tons have been shipped as of end-April, and another 800,000 to 1 million tons are likely to be exported in May, the industry group said last week.
Source:Bangkok Post
May 24, 2022 21:26 UTC
Minor reaches agreement to open new Saudi hotel
Minor reaches agreement to open new Saudi hotelMinor Hotels is planning a new hotel in Saudi Arabia after reaching an agreement with the Diriyah Gate Development Authority (DGDA) to open an Anantara Hotel in Diriyah. William Heinecke, chairman and founder of Minor International, the parent company of Minor Hotels, said the hotel will be a part of Diriyah Gate, a large project in terms of scale and luxury which focuses on local residents and international tourists. Minor Hotels, a hotel owner, operator and investor, currently has 529 hotels and resorts in 56 countries across Asia-Pacific, the Middle East, Europe, the Americas, Africa and the Indian Ocean. It has signed a memorandum of understanding with DGDA to develop the hotel under its luxury Anantara brand. The project will include 38 hotel brands, over 100 restaurants, and more than 400 luxury retail brands and souk offerings.
Source:Bangkok Post
May 24, 2022 10:51 UTC
GSB ready to assist THAI, Oil Fuel Fund
GSB ready to assist THAI, Oil Fuel FundA Thai Airways International Boeing 777-300ER aircraft is seen parked at Suvarnabhumi airport. The Government Savings Bank (GSB) stands ready to extend loans to Thai Airways International (THAI) and the Oil Fuel Fund to boost their liquidity if the government adopts a policy for it to do so, said GSB chairman Prapas Kong-Ied. He added that the Oil Fuel Fund has yet to ask for a loan from GSB. As in the case of THAI, the bank would consider extending a loan to the fund if it were government policy. The fund is in talks with state-owned banks for loans worth 30-40 billion baht to boost liquidity, enabling it to subsidise the domestic oil price.
Source:Bangkok Post
May 24, 2022 09:23 UTC
PTG reports Q1 sales revenue rise of nearly 21%
PTG Energy Plc reported first-quarter revenue from sales and services of 39 billion baht, up 20.8 per cent from a year earlier. Meanwhile, revenue from the firm’s non-oil business rose 44.1 per cent year-on-year to 1.8 billion baht, accounting for 4.6 per cent of total revenue. The first quarter saw EBITDA (earnings before interest, taxes, depreciation, and amortisation) at 1.26 billion baht and net profit of 163 million baht, a fall of 368 million baht YoY. PTG sold 1.264 million litres of diesel in Q1/2022 – a drop of 5.5 per cent YoY – but still maintained the second-highest market share. Meanwhile, PTG sales of LPG rose 69.2 per cent to 106 million litres.
Source:The Nation Bangkok
May 24, 2022 07:19 UTC
Sappe eyes B1bn expansion
The investment excludes the company's annual capital expenditure of 100 million baht. Ms Piyajit said Sappe plans to increase its sales to 10 billion baht by 2026 through essential business strategies including domestic and international expansion, mergers and acquisitions (M&A), and an aggressive business expansion of its All Coco drink brand. In terms of international business, Sappe has an average growth target of 15-20%, mainly through the expansion of sales distribution channels to be more comprehensive and cover more areas. The company aims to increase sales of its All Coco drink brand to 800 million baht in 2026, from 316 million baht last year. It will open new All Coco cafés in Bali, Indonesia, and increase sales points worldwide.
Source:Bangkok Post
May 24, 2022 04:55 UTC