Friday , May 25 2018
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Thailand

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 »

Thailand Offers Food Innovators Ingredients To Thrive

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BANGKOK: Thailand’s food industry is poised to seize an even greater global market share in 2018 on multiple fronts including agricultural production, food innovation, and halal foods — and many of the industry’s most powerful global companies are already taking note. The only net food exporter in Asia, Thailand’s year-round growing season, abundant natural resources and geographic location grant it ... Read More »

Thai Government partners with Chinese tech giant to boost digital trade

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BANG KOK: Thailand (EECO) and other Thai Government entities signed Memorandums of Understanding (MOU) with Alibaba Group covering four areas of collaboration, including investment in a Smart Digital Hub to boost regional and global trade through E-commerce. The Thai Government is promoting the Eastern Economic Corridor (EEC) development plan as one of the key measures to realise the Thailand 4.0 vision, which aims to help ... Read More »

Thai March export growth seen slowing to 8pc y/y

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BANGKOK: Thailand’s customs-cleared annual exports likely rose again in March but at a slower pace than in the previous month, a Reuters poll showed, partly due to a high comparative base last year. The poll’s median forecast was a for exports to grow 8.0 percent in March from a year earlier. Exports, a key driver of economic growth in Thailand, ... Read More »

Thailand approves tax incentive plan to encourage bank mergers

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BANGKOK:  Thailand’s Cabinet approved a plan on Tuesday to offer tax incentives to encourage mergers among the country’s commercial banks, a move that will help them better compete with their larger regional rivals. Tax exemptions will be granted to shareholders of commercial banks that have merged including corporate income tax and personal tax.” Thailand’s five biggest lenders are Bangkok Bank, ... Read More »

Authorities keeping a close eye on economy security following the strikes on Syria.

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BANGKOK: Thai stock market, the overall economy and other national interests, Thailand’s national security agency said yesterday that the country was on alert to prevent other, unexpected consequences. The United States and its French and British allies launched one-off strikes at three alleged chemical weapons facilities in Syria early on Saturday, after which President Donald Trump announced “mission accomplished” without ... Read More »

Philippine economy experiencing golden age but risks remain

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MANILA:  The Philippine economy is going through a “golden age,” the Asian Development Bank said on Wednesday, with the country’s growth seen outpacing its peers in the region on the back of strong investment and domestic consumption. “I think I would call it a golden age for the Philippines because it is growing in a very sound macroeconomic policy framework,” ... Read More »

Customs foils attempt to smuggle meth worth RM3.85mil from Thailand

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BANGKOK: Customs director-general Datuk Seri Subromaniam Tholasy said the suspect, a Malaysian man aged 47, was nabbed as he was driving from Thailand at the border security post at about 9.30am. “Customs officers suspected something amiss and asked the driver to open the car boot. “Officers conducted a thorough inspection and found a secret compartment there,” he told a press ... Read More »

Thailand Expected to Post 4.1% Growth in 2018

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BANGKOK: 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. Thailand’s economic recovery is broadening in 2018. While rapid export growth continues fueling the economy, an increase in capacity utilization and acceleration in capital goods imports suggest a nascent domestic demand recovery ... Read More »

Thai commerce min sees opportunities in Us China trade war

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BANGKOK: Minister of Commerce Sonthirat Sonthijirawong, has disclosed that Deputy Prime Minister for Economic Affairs Somkid Jatusripitak, recently called a meeting of the government’s economic team, comprised of the Ministries of Finance and Commerce, the Bank of Thailand and the Stock Exchange of Thailand, to discuss the effects of the US-China situation. At the meeting, the Ministry of Commerce emphasised ... Read More »