Thailand to issue 20 billion THB in sustainable bond sales
Thailand’s Public Debt Management Office (PDMO) is set to issue 20 billion THB (540 million USD) in sustainable bonds to institutional investors this year. Thailand’s Public Debt Management Office (PDMO) (Photo: bangkokpost.com)Bangkok (VNA) – Thailand’s Public Debt Management Office (PDMO) is set to issue 20 billion THB (540 million USD) in sustainable bonds to institutional investors this year. Sustainable bonds are a subset of ESG bonds, and the PDMO currently has 467 billion THB in outstanding ESG bonds, accounting for 5.6% of its total bond portfolio. Jindarat confirmed that the PDMO aims to issue ESG bonds annually to establish a benchmark for this type of financial instrument. The Thai Bond Market Association classifies ESG bonds into four categories: green bonds, social bonds, sustainability bonds, and sustainability-linked bonds./.
Source:Bangkok Post
June 24, 2024 13:55 UTC
Key suspect in Stark fraud arrives in Bangkok after Dubai deportation
Key suspect in Stark fraud arrives in Bangkok after Dubai deportationChanin Yensudchai, the former CEO of scandal-hit Stark Corp, is being questioned by the Department of Special Investigation after he arrived back in Thailand on Sunday. (TV screen capture)Chanin Yensudchai, one of the key suspects in the Stark Corporation embezzlement scandal, arrived in Bangkok on Sunday after he was deported from Dubai. United Arab Emirates authorities handed over Mr Chanin to their Thai counterparts in Dubai on Saturday to bring him back to Thailand. The five companies were Stark and its subsidiaries: Phelps Dodge International (Thailand), Thai Cable International, Adisorn Songkhla Co and Asia Pacific Drilling Engineering. The accounting and embezzlement scandal at SET-listed Stark was one of the country’s largest corporate frauds in recent years.
Source:Bangkok Post
June 23, 2024 10:36 UTC
Billboard comparing Trump to Fidel Castro sparks debate
A billboard featuring Republican presidential candidate Donald Trump and Fidel Castro has generated significant debate in Miami, Florida. Installed by Mad Dog PAC, the Spanish-language billboard is part of a campaign targeting battleground states to raise concerns about potential dictatorship.
Source:Bangkok Post
June 23, 2024 09:47 UTC
Hemp's potential goes up in smoke
Hemp's potential goes up in smokeSince the legalisation of marijuana, or ganja, in 2022, the total lack of regulatory control has sparked a public outcry, prompting the Srettha administration to criminalise ganja again. In Thailand, hemp has long been used in the traditional textiles of the Hmong highlanders, both for their cultural rites from birth to death and for the markets. Yet the Public Health Ministry wants to include the non-psychoactive hemp in the narcotics list along with ganja. Following his directive on May 8, 2024, the Public Health Ministry issued a new regulation that will come into effect on Jan 1, 2025. Since hemp is not a drug, any law concerning narcotics should not include hemp at all, they insist.
Source:Bangkok Post
June 22, 2024 23:10 UTC
Namibian court overturns anti-gay laws
(Photo: Reuters)WINDHOEK, Namibia - The High Court in Namibia has declared two colonial-era laws that criminalised same-sex acts between men unconstitutional, in a landmark win for the LGBTQ community in the southern African country. The case was brought by Namibian activist Friedel Dausab with the support of the British-based non-governmental organisation Human Dignity Trust. John Nakuta, a law professor at the University of Namibia, said the court’s order can be appealed by the Namibian government within 21 days. Namibia inherited the laws when it gained independence from South Africa in 1990, though same-sex acts between men were initially criminalised under colonial rule. The latter measure is being challenged in court and the country’s president has yet to assent to it.
Source:Bangkok Post
June 22, 2024 19:36 UTC
Cheap imports levied VAT from July
Under the current VAT regime, in effect since 2018, only imported goods valued at more than 1,500 baht are subject to VAT collection. The Royal Gazette has announced the Finance Ministry will begin collecting value-added tax (VAT) on all imported goods, including those priced below 1,500 baht, effective from July 5. The reason for collecting VAT on imported goods priced from 1 baht to 1,500 baht is the government's policy to address unfair competition from cheap imported consumer goods, which are not subject to VAT. The measure aims to prevent an influx of cheap imported goods, particularly from China, from flooding the domestic market. Under the current VAT regime, in effect since 2018, only imported goods valued at more than 1,500 baht are subject to VAT collection.
Source:Bangkok Post
June 22, 2024 14:26 UTC
The bigger game: Israel and Saudi Arabia vs Iran
Israel has no oil, and the Palestinians have nothing worth stealing except their land. Iran and Saudi Arabia are much bigger, but they would be no more important in strategic and economic terms than Thailand and South Africa if they weren't jointly sitting on 29% of the world's oil reserves. And the US still cares about Middle Eastern oil, too, even though it no longer imports much itself. America's major ally in the Gulf for 50 years now has been Saudi Arabia. It was the "Abraham accords", which would effectively tie Israel, Saudi Arabia and the United States together in an anti-Iranian alliance -- and entirely ignore the Palestinians.
Source:Bangkok Post
June 22, 2024 10:40 UTC
Fitch slashes assessment for banking sector to neutral
Fitch slashes assessment for banking sector to neutralFitch Ratings has downgraded the outlook for the Thai banking sector to neutral from improving, citing a subdued pace of economic recovery that is likely to constrain earnings growth. The Thai banking system's operating profit to risk-weighted assets ratio increased to 1.9% in 2023 from a pandemic low of 1.2% in 2020, driven by rising interest rates and reduced credit costs. Hence, rating downside would depend on changes in our assessment of extraordinary support prospects," said Fitch Ratings. Fitch expects Thai banking groups to increasingly seek other business opportunities, such as in non-bank financial institutions or overseas expansion, which could impact their risk profiles. Thai banks have been bolstering their defences in anticipation of a likely rise in non-performing loans.
Source:Bangkok Post
June 21, 2024 11:02 UTC
Alibaba rumoured to dump Lazada
Lazada Thailand posted a profit for a third consecutive year in 2023. Lazada Thailand reached profitability in 2021, tallying 226 million baht after operating for a decade and posting a loss of 3.9 billion baht in 2020. In 2022, Shopee Thailand recorded a profit of 2.3 billion baht, compared with a loss of 4.9 billion baht in 2021. In 2023, TikTok Shop (Thailand) reported a loss of 290,000 baht and assets of 5 million baht, with registered capital of 50 million baht. However, Shopee Thailand has a higher profit than Lazada Thailand, as the former restructured its operations in early 2023.
Source:Bangkok Post
June 20, 2024 14:13 UTC
Thai LGBT community celebrates marriage equality bill
People from the LGBTQ community gathered in Bangkok on Tuesday (June 18) to celebrate the passing of a marriage equality law. Waaddao Chumaporn, a member of the Civil Society Commission, said it was a "relief" that the community can now use the new law in their lives.
Source:Bangkok Post
June 19, 2024 15:42 UTC
Friend mourns death of US tourist amid high temperatures in Greece
Christos Katechis, the friend of a U.S. tourist who was found dead in Greece amid high temperatures, said the man "came to Mathraki only because we had told him that it was very quiet, calm." Police on Monday (June 17) said a 55-year old man from the United States was found dead on Sunday on a remote beach, the third tourist death in a week.
Source:Bangkok Post
June 19, 2024 15:42 UTC
PTTGC to turn Thailand into petrochemicals hub
PTTGC to turn Thailand into petrochemicals hubPTT Global Chemical (PTTGC), the largest petrochemical producer in Thailand by capacity, aims to jump-start a downbeat industry by transforming the country into a high-value speciality petrochemical production hub in Southeast Asia. To develop as a regional speciality petrochemical hub, PTTGC will produce more high-value products from a manufacturing process with low carbon dioxide emissions, said Narongsak Jivakanun, the company's new chief executive. Allnex and Natureworks will help PTTGC develop high-value petrochemical products in the industrial coating and PLA categories, said Mr Narongsak. PTTGC plans to use Allnex's technical know-how to develop its petrochemical factory in the Map Ta Phut area. Plants in Map Ta Phut and Nakhon Sawan will play a key role in helping Thailand become a speciality petrochemical production hub.
Source:Bangkok Post
June 19, 2024 11:38 UTC
China's next-gen sexbots powered by AI to hit the shelves
BEIJING - Chinese scientists and engineers are applying ChatGPT-like technology to sex robots, aiming to create interactive, artificial intelligence (AI)-powered companions in the face of technical and ethical challenges. In Shenzhen, Starpery Technology, a major producer of sex dolls, is now training its own large language model to enhance its product with AI. These sex dolls with unprecedented capabilities - available in male or female forms - will soon be hitting the shelves. (Photo: Reuters)In the past year, large language models have significantly advanced various sectors, notably transforming the humanoid robot industry. AI-driven sex robots could blur ethical boundaries and reinforce harmful attitudes regarding consent and negative gender stereotypes.
Source:Bangkok Post
June 18, 2024 18:07 UTC
Maritime route to link Trat islands with Cambodia, Vietnam
Maritime route to link Trat islands with Cambodia, VietnamLong beaches are seen during low tide on Koh Mak in Trat province. (File photo: Karnjana Karnjanatawe)Thailand, Cambodia and Vietnam are looking to join hands to establish a maritime route that links the islands near Trat province with Cambodia’s Sihanoukville province and Vietnam’s Kiên Giang. “The maritime route will not only function as a modern-day economic route, but it will also be a charming tourism route, with beautiful nature and culture along the way,” Mr Chamnan said. The meeting, he said, developed a plan to boost tourism and the Mice industry on the maritime route to make more progress on the initiative. Wiyada Suang, vice president of the Tourism Council of Trat province, said the maritime tourism route will open during this year’s high season in November.
Source:Bangkok Post
June 16, 2024 16:02 UTC