Global growth engines sputtering
Global growth engines sputteringThe International Monetary Fund's revised World Economic Outlook (WEO) is sobering. It is rare for the organisation to revise down sharply its projections for economic growth just one quarter into the calendar year. Yet in this case, it has done so for 86% of its 190 member countries, resulting in a decline of almost one percentage point in global growth for 2022 -- from 4.4% to 3.6%. The IMF does not expect its significant downward revision in global economic growth for 2022 to be offset in 2023. The IMF's report offers an important reminder to policymakers that they need to focus much more attention on generating innovation, improving productivity, and strengthening the other drivers of robust, inclusive economic growth.
Source:Bangkok Post
April 26, 2022 09:54 UTC
Ex-MP blames faulty construction for flooding in Parliament complex
Former Democrat Party MP Watchara Petthong said on Tuesday that the incident took place at 5pm, adding that the complex could get flooded even without rains. He blamed the flooding on defective construction, and warned that such incidents would expose people to risk of electrocution.
Source:The Nation Bangkok
April 26, 2022 09:35 UTC
Investigators wrap up mystery of Tangmo’s death, suspects out on bail
Tanupat "Por" Lerttaweewit• Negligence causing death in violation of Section 291 of the Criminal Code. • Violating Section 172 of the Criminal Code by providing false testimony to the police. • Violating navigation law by driving a boat without a licence. Nitas "Job" Kiratisoothisathorn• Violating Section 184 of the Criminal Code by helping others to escape the criminal penalty and destroying evidence. Idsarin "Gatick" Juthasuksawat• Violating Section 184 of the Criminal Code by helping others escape the criminal penalty or destroying evidence.
Source:The Nation Bangkok
April 26, 2022 09:35 UTC
Slumping baht under pressure after breaching 34/dollar mark
Poon said the risk-averse market and Covid-19 situation in China could add more downward pressure on the baht. He projected a key resistance level at 34.15 to 34.20 per dollar. If the baht weakens past 34.20, importers might scramble to buy dollars which would trigger significant further weakening of the Thai currency, he added. Poon advised close monitoring of foreign investors amid a lull in foreign outflows after sell-offs of Thai assets were triggered by heavy increases in the US and Thai 10-year bond yields. He advised businesses to use hedging tools such as options to manage risks in the highly volatile currency market.
Source:The Nation Bangkok
April 26, 2022 03:55 UTC
Calls for over-the-top video industry to be self-regulating
Calls for over-the-top video industry to be self-regulatingThe economic impact of employment in the OTT video industry is valued at 27 billion baht, or 0.17% of Thailand's total GDP. The economic impact of employment in the OTT video industry is valued at 27 billion baht, or 0.17% of Thailand's total GDP. Unlike traditional media that has limited time for advertising and limits consumer choice, OTT video platforms give viewers the option to watch adverts. "OTT video services should not be regulated under the traditional law due to the different business models," said Mr Suthikorn. "If Thailand adopts such an approach to oversee the OTT video industry, it is necessary to address these issues in order to have more effective governance," he added.
Source:Bangkok Post
April 26, 2022 02:24 UTC
Opposition gives censure plan timeline
Dr Cholnan said opposition parties will meet today to finalise the strategy for the censure debate and whether to target the entire cabinet or individual ministers. He said he expects the no-confidence debate will prompt some 30 government MPs to cross floor and cast a vote of no-confidence. Meanwhile, Prime Minister Prayut Chan-o-cha on Monday pledged to try and resolve problems for people during a visit to Songkhla and Phatthalung. The prime minister received a warm welcome from Songkhla residents with many of them pledging to support him returning as prime minister after the next election. Gen Prayut also urged voters to make the right choice at the polls, noting that when people elect MPs, they are also voting for a prime minister because a prime minister must receive the endorsement of MPs in parliament.
Source:Bangkok Post
April 26, 2022 02:20 UTC
Bitkub announces BKC Oracle an official project for blockchain development
BKC Oracle is an important tool for developing smart contracts or dApps that bridges the data from off-chain to on-chain via smart contracts. This allows blockchain developers to connect the secure and up-to-date data on Bitkub Chain infrastructure more easily. Furthermore, BKC Oracle is a project developed by Loremboard team via the support from Bitkub Venture, a venture capital company under Bitkub Capital Group Holdings Co., Ltd.BKC Oracle will be the main infrastructure on Bitkub Chain connected the data from the real world to blockchain that supports blockchain developers to use the tools and platform more efficiently. The prominent usage example is “Data Feeds”, the leading feature on BKC Oracle that can extract cryptocurrency price data from off-chain in a real time within a couple minutes. In addition, BKC Oracle has a highly secure and flexible infrastructure to facilitate blockchain developers on Bitkub Chain’s ecosystem with the following features:Reliable and secure - BKC Oracle can securely connect the data from Bitkub Exchange to smart contract by trusted nodes, data and cryptographic proofs High speed transaction - BKC Oracle provides high data extraction throughput rate (an update for only per 1 to 2 minutes) Stability and safeguard backup - BKC Oracle can provide the steadiness of data extraction on the system with supporting backupFor latest updates on Bitkub Chain visit https://www.bitkubchain.com/ or Facebook @bitkubchainofficial
Source:The Nation Bangkok
April 26, 2022 02:20 UTC
Police motorcyclist gets 1 year, 15 days jail for killing 'Mor Kratai'
Motorcyclist Pol L/Cpl Norawich Buadok (masked), a riot control policeman, at the Office of the Attorney-General to hear the prosecutors’ decision to indict him on Feb 22. Pol L/Cpl Norawich was found to be driving at 108-128 kilometres per hour, well above the 80kph speed limit. He was jailed for 15 days for speeding and for driving without due regard for safety. The sentences were commuted to one year and 15 days in prison and 4,000 baht in fines because he confessed. They charge that Pol L/Cpl Norawich was on duty at the time and the Royal Thai Police Office is therefore responsible.
Source:Bangkok Post
April 25, 2022 12:17 UTC
Finance minister denies plan to lower subsidy in Khon La Khrueng scheme
Arkhom told reporters on Monday afternoon that the Finance Ministry had not yet decided on whether to launch another phase of the subsidy scheme. “It has to be considered whether those who have regular income and those with daily income will have more income after the economy has improved. This is because when the economy has improved, this kind of stimulus measure will be reduced,” Arkhom said. “It will be Khon La Khrueng Phase 5. I didn’t say Khon La Siew.
Source:The Nation Bangkok
April 25, 2022 10:15 UTC
Pitching a piece of the local EV market
The second is Global X Lithium & Battery Tech ETF (LIT), which invests in the stocks of lithium-ion battery manufacturers. Narongsak Plodmechai, chief executive of SCB Asset Management (SCBAM), said China will account for nearly 50% of global EV sales by 2025. China is already the world's largest EV market with about 1.4 million EVs sold in the country in 2020, accounting for more than 40% of global EV sales. Beijing has extended the country's subsidy programme for clean energy vehicles until 2022. The major obstacle is EVs' battery storage capacity and the inadequate number of charging stations.
Source:Bangkok Post
April 25, 2022 09:42 UTC
Development of Thai hemp industry can be expedited and thriving
Thailand has all it takes to evolve into Asia's leading hemp centre to tap into the US$15.8 billion in global hemp-related businesses estimated over the next five years. At least five nascent supply chains are being spurred by the hemp and cannabis legalisation in Thailand, namely, beverages, food, medicines and supplements, apparel, and personal care products. The plant also presents the kingdom with a significant opportunity to add new impetus to its medical tourism drive, with foreigners and locals seeking out affordable, hemp-cannabis related healthcare treatments. For that reason, the Global Hemp Innovation Collaboration Centre has been established in Thailand to help guiding the country towards achieving that aspiration. More specifically, the centre's mission is to bring science-based know how and experience from abroad to spur short-cut and fast-track development in Thailand, explained Dr. Aimon Kopera, founder and CEO of the US-based Geneomics Global.
Source:The Nation Bangkok
April 25, 2022 09:28 UTC
Wimbledon's Russia ban faces battle of wills
Wimbledon's Russia ban faces battle of willsThe Wimbledon logo on a water feature at the All England ClubPARIS: WTA president Steve Simon warned Wimbledon that they face "strong reactions" to their decision to ban Russian and Belarusian players and the week ahead could see more twists in the controversy which has split tennis. As the Grand Slam tournaments are autonomous, possible sanctions by the ATP and the WTA could include a refusal to award ranking points at the June 27-July 10 Grand Slam tournament. "It's a measure which it seems applies only to tennis players -- other professionals of Russian and Belarusian nationality are able to continue their professional activity on English soil," she said. The ATP and WTA have already described the ban as "unfair" and "very disappointing". Some Ukraine players have not been convinced by opposition to the Wimbledon ban.
Source:Bangkok Post
April 25, 2022 05:52 UTC
Somkid hat in ring for PM
Somkid: Mounting a comebackFormer deputy prime minister Somkid Jatusripitak has accepted an invitation to serve as a prime ministerial candidate of the newly established Sang Anakhot Thai Party (Building Thailand's Future). Party secretary-general Sontirat Sontijirawong said on Sunday Mr Somkid is willing to be the candidate after he was approached for the role. Mr Somkid, who was deputy prime minister at the time, also stepped down from the government, citing health problems. Mr Stithorn said Mr Somkid has established himself as a scholar well-versed in economics and also a well-connected figure with a great deal of clout. "The type of politician like Mr Somkid is rare,'' Mr Stithorn said.
Source:Bangkok Post
April 25, 2022 05:15 UTC
Almost 5.2 million Ukrainians flee war: UN
Almost 5.2 million Ukrainians flee war: UNThe latest figures come as Ukrainians mark Orthodox Easter Sunday in wartime. GENEVA: The number of Ukrainians who have fled the country since Russia's invasion two months ago is approaching 5.2 million, the UN refugee agency said Sunday. More than 1,151,000 Ukrainians have left during April so far, compared with 3.4 million in the month of March alone. Before the war, Poland was home to around 1.5 million Ukrainians, chiefly migrant workers. A total of 433,214 Ukrainians have crossed into the non-EU state, one of the poorest in Europe.
Source:Bangkok Post
April 24, 2022 22:12 UTC
AIS sends cyber police off on hunt for over 1,000 call-centre scammers
“AIS customers can call the AIS Spam Report Centre for free, and thanks to calls received so far, we have learned that more than 1,000 phone numbers belong to gangsters,” said Pratthana Leelapanang, chief of the AIS consumer business department. He said once AIS detects suspicious phone numbers, the AIS Spam Report Centre then informs the owner of the number that their service is either being blocked or suspended. This action is only applicable to AIS subscribers. The numbers are then reported to the Cyber Crime Investigation Bureau, which investigates each case before arresting alleged scammers, he said.
Source:The Nation Bangkok
April 24, 2022 22:07 UTC