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Thailand Targets New Crypto Taxes While Others Move to Ease Burdens

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An increasing number of countries are looking at the cryptocurrency space, with three national governments launching efforts to regulate and examine projects in the last two weeks. – with a particular focus on tax policy. As might be expected, some jurisdictions – especially in the Asian market – have moved to clarify the rules that crypto-traders must follow when reporting ... Read More »

Airbus And THAI Sign Joint Venture MRO In U-Tapao

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Airbus and Thai Airways International (THAI) have signed an agreement to establish a new joint venture maintenance and overhaul (MRO) facility at U-Tapao International Airport near Bangkok. The accord was signed today at Airbus headquarters in Toulouse by Usanee Sangsingkeo, Acting President, THAI; and Eric Schulz, Chief Commercial Officer, Airbus, in the presence of Prayut Chan-o-cha, Prime Minister of Thailand ... Read More »

Bangkok Bank Confident On Asean Growth Despite Trade Tensions

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The President of Bangkok Bank spoke today at the AEC Business Forum 2018, expressing confidence in the ASEAN economy despite the escalating trade war between the United States and China. Bangkok Bank President Chartsiri Sophonpanich spoke of the economic potential of ASEAN, despite concerns over the trade dispute between the US and China. He believes the dispute won’t affect ASEAN, ... Read More »

World Bank Raises Thai Growth Forecast To 4.1 Per Cent

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The World Bank has revised up Thailand’s economy growth this year to 4.1 per cent from its previous estimate of 3.6 per cent given the country’s robust performance. The bank has also revised up its forecast of Thailand’s economy in the year 2019 and 2020 to 3.8 per cent for both years, up from its previous estimate of 3.5 per ... Read More »

Thailand ‘must prepare ground for challenges ahead’

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THAILAND faces many challenges ahead as it seeks to transition the country to succeed in the era of automation and digitalisation with the 4.0 initiative. The country needs to prepare itself to meet Thailand 4.0’s manufacturing environment as well as respond to the expansion of Chinese investments and those from global investors into the Kingdom, said Markus Lorenzini, president and ... Read More »

World Bank Raises Thai Growth Forecast To 4.1 Per Cent

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Thailand’s economy is expected to grow by 4.1 percent in 2018, the fastest pace since 2012, says the latest edition of the World Bank’s Thailand Economic Monitor The World Bank has revised up Thailand’s economy growth this year to 4.1 per cent from its previous estimate of 3.6 per cent given the country’s robust performance. The bank has also revised ... Read More »

Thailand’s Economy Remained Strong In Q1 2018

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Thailand’s economy has recovered strongly in the first quarter of 2018 supported by healthy growths in the export and tourism sector. Exports in the first three months have jumped up 11.3 percent year on year, representing a seven-year high and it remains a driving force of the economy this year, said Pornpen Sodsrichai, director of macro economy department of Bank ... Read More »

Airports of Thailand to invest US$3.9b in new airports, handle more passengers

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[BANGKOK] Airports of Thailand PCL , a major beneficiary of the country’s tourism boom, is adding new airports to its portfolio to ease demand, President Nitinai Sirismatthakarn told Reuters on Monday. The influx of tourists has lifted revenue and the share price, but is putting pressure on infrastructure and services. “Demand is outpacing supply,” Mr Nitinai said adding that AOT ... Read More »

Thai Banks Increased Operating Profit In Q1 2018

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Loans by commercial banks continued a growth trend of 4.4 percent last year to 4.7 percent in the first quarter. The growth was mainly due to an expansion in SMEs to include more business types with loans to large corporations excluding financial institutions contracting slightly as several began repaying their loans and some sought other means of amassing capital. In ... Read More »

Fuel surges induce consumer price watch by authorities

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Authorities are keeping a close watch on the prices of consumer products and food after diesel and liquefied petroleum gas (LPG) prices gained. Boonyarit Kalayanamit, director-general of the Internal… Trade Department, said Tuesday the department’s officials have been assigned to closely monitor and inspect food and consumer product prices in markets. He said it will be considered unreasonable if food… ... Read More »

Thailand Inches Closer to Cryptocurrency Taxation

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BANGKOK: Thailand has moved one step closer to enacting taxes on cryptocurrencies. Investors trading cryptos in the country are expected to face a 7 percent value added tax (VAT) for all trades in addition to a 15 percent tax on capital gains, according to a report by Nikkei Asian Review on Friday. The move marks the latest effort to regulate cryptocurrencies in ... Read More »

BBL credit card spending nearly twice industry rate

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Bangkok Bank’s (BBL) credit card spending for the first three months of this year recorded stellar growth, nearly doubling the industry rate thanks to the solid purchasing power of its upper-income cardholders. Spending via the bank’s credit cards surged 14% year-on-year for the first quarter, compared with 8% growth in the industry, said Shoke Na Ranong, executive vice-president and manager ... Read More »

Thai activists drop protests, vow to resume if deal with junta fails

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BANGKOK: A Thai anti-government movement vowed on Sunday to resume its protests unless the ruling junta keeps the promises it made in return for the group agreeing to end more than a week of demonstrations ahead of a coup anniversary later this month. The People’s Movement for a Just Society, or P-Move, a network that represents farmers, the urban poor ... Read More »

Two Pattaya drug suspects nabbed with 50,400 meth pills

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CHON BURI: Two men have been arrested for possession of 50,400 methamphetamine pills that they intended to sell to customers in Pattaya, police said. Pol Col Apichai Krobphet, the Pattaya police chief,… Pol Col Apichai Krobphet, the Pattaya police chief, said at a press conference that Wiwat Buapha, 30, of Loei province, was arrested at a petrol station on Kanchanapisek ... Read More »

Gun violence in Thailand: A problem that can’t be solved?

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BANGKOK: When Sunantha Ratchawat was hit, her body went numb. It was dark inside the bar, popular with young Thais drinking and dancing and on this night, it was crowded. Music – American hip hop – was blasting through the venue’s speakers. Sunantha, who goes by the name of Pam, was in her early 20s and on a casual night ... Read More »

Thai police arrest suspected wildlife trafficking kingpin

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Thai police have arrested a suspected kingpin of wildlife trafficking who allegedly fuelled much of Asia’s illegal trade for over a decade. Police say Boonchai Bach, a 40-year-old Thai of Vietnamese descent, was arrested in a north-eastern border province in connection with the smuggling of 14 rhino horns worth more than $1m (£810,000) from Africa into Thailand last month, in ... Read More »

Convicted Norwegian child molester arrested for watching child porn in Thailand

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Police yesterday arrested a 57-year-old Norwegian man for watching child pornography at his home in the rural province of Chaiyaphum, where he had lived with a local wife. The raid of Stig Kvale’s home was carried out following an alert from the Nordic Police and Customs Cooperation that he had previously been convicted on 11 counts of child molestation in ... Read More »

Malware attacks prompt ministry call for remedial action

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BANGKOK: The ministry’s move follows reports of a group of hackers with links to the North Korean government using servers in the Kingdom to carry out large-scale cyber-espionage and malware attacks. According to McAfee Advanced Threat Research, it was discovered that a global data reconnaissance campaign called “Operation GhostSecret” had affected implants, tools and malware variants which it said are ... Read More »

Mar crude condensate imports up 9.7% on year to 1.09m

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BANGKOK: Thailand imported 1.09 million b/d of crude and condensate in March, an increase of 9.7% year on year, Customs Department data released Tuesday showed. The country’s crude imports rose 10.6% year on year to 1.06 million b/d in March, from 957,407 b/d a year ago. Key suppliers of crude oil to Thailand last month included UAE, Saudi Arabia and ... Read More »

Thailand aims to join TPP trade deal

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BANGKOK: Thailand intends to join the new 11-member Trans-Pacific Partnership free trade deal, The Yomiuri Shimbun has learned. Thailand is preparing to join the deal, which counts Japan and Australia among its members, after it takes effect. The existing 11 member countries are seeking to have it take effect this year. Thailand would be the first additional country to join ... Read More »