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Wednesday , April 26 2017
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Thailand

Thai police foils attempt to smuggle drugs into Malaysia

DRUGBUT

BANGKOK: Thai police intercepted a truck carrying a million methamphetamine pills bound for Malaysia. Narcotics Suppression Bureau (NSB) commander Maj-Gen Tanai Aphichartseni said two Thai nationals from Songkla were arrested four days ago in a predawn raid on a 10-wheeler lorry in Mae Chan district, Chiang Rai. “Both of the suspects admitted they were instructed to transport the drugs to ... Read More »

Thailand to import Vredestein tyres from new Apollo factory in Hungary

Flag-Pins-Thailand-Hungary

BUDAPEST: Hungarian Prime Minister Viktor Orban, centre, early this month formally inaugurated Apollo Tyres’ sixth global tyre-manufacturing unit and the second one in Europe. Also present were Onkar S Kanwar, right, chairman, and Neeraj Kanwar, left, vice chairman and managing director, of Apollo Tyres. The company’s board of directors and senior management were also present on the occasion. Located less ... Read More »

Thai Customs nabs smuggler of ‘semen’

arrest

BANGKOK: A Thai man has been arrested and fined nearly $US6,000 ($A7,900) at a checkpoint on the border with Laos for suspected smuggling of semen, a customs officer says. Nithinon Srithaniyanan, 25, was travelling with a nitrogen tank containing six vials of what he said was human semen, said Nimit Saeng-ampai, chief customs officer at the Nong Khai checkpoint between ... Read More »

Thailand increases penalties for tax fraud, evasion

TAX FRAUD

BANGKOK: The Thai Revenue Department announced earlier this month that new legislation effective from April 2 increases penalties for those taxpayers committing tax fraud or evading their tax liability. In a statement accompanying the enactment of the Revenue Code Amendment Act (No.45) B.E. 2560, the Department revealed that such fraudulent activity involving sums in excess of THB10m (USD291,235) will also ... Read More »

Demand for Thai rice in Peru grows

growth in exports

BANGKOK: The Ministry of Commerce is set to launch a marketing scheme aimed at boosting Thai rice exports to Peru following an escalating demand. According to Commerce Minister Apiradee Tantaraporn, Peru consumes 1.8 million tons of rice each year, the largest amount in Latin America. 65% of imported rice is from Uruguay, 22% from Brazil, 9% from Thailand, and the ... Read More »

Thailand ready for changes in US’ trade policy

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BANGKOK: Thai exporters must get ready for all of the US’ policies, including raising import tax and imposing non-tariff barriers on Thai goods, said Chen Namchaisiri, Chairperson of the Federation of Thai Industries, adding that they need to seek new markets. According to experts, the Thai government has taken measures to ensure intelligence property and anti-labour abuse, which will help ... Read More »

Thai exporters urged to prepare for US trade sanctions

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BANGKOK: Representatives from manufacturing, trade and banking sectors discussed on Monday the trade issues with the United States after the US government reviews trade policy with 16 countries which have trade surplus with the US. Chen Namchaisiri, chairman of Federation of Thai Industries, said exporters have to prepare for any actions from the US, since the US government could raise ... Read More »

Alibaba planning to set up trade center in Thailand

People walk at the headquarters of Alibaba in Hangzhou, Zhejiang province, April 23, 2014.    REUTERS/Chance Chan/Files

BANGKOK: Chinese e-commerce giant Alibaba Group is still investing in Thailand, planning to set up a regional electronic-trade centre and logistics system here to link Cambodia, Laos, Myanmar and Vietnam (CLMV) markets, Industry Minister Uttama Savanayana said. In response to China’s biggest e-commerce company also setting its foothold in Malaysia, Uttama insisted that the group was still interested in Thailand ... Read More »

Bank of Thailand expects 3.4% growth in current year

Bank of Thailand in Bangkok

BANGKOK: The Thai economy will continue its steady upward climb, growing by 3.4% this year and 3.6% next year as exports improve, the Bank of Thailand said on Friday. Gross domestic product (GDP) expanded by 3.2% last year and by 2.9% in 2015. Jaturong Jantarangs, a central bank assistant governor, said a steady recovery was being seen in exports of ... Read More »

Thailand, Malaysia sings MoU to enhance banks supervision

Germany-Switzerland sign arbitration agreement for tax disputes

KUALA LUMPUR: The central banks of Malaysia and Thailand signed a Memorandum of Understanding (MoU) to enhance the supervision of banks operating in both countries as well as to improve coordination in key areas. In a joint statement, the central banks of both countries said on Thursday the MoU served as a solid foundation for effective supervision of the banking ... Read More »

Thai frozen chicken exports seems to grow

chicken

BANGKOK: The exports of Thai frozen chicken are likely to increase as demands in Europe and Japan grow. The Poultry Promotion Association of Thailand President, Chaweewan Khampana, revealed that exports of frozen and processed chicken have been on a rise during the first 3 months of this year due to growing demands in Japan and European countries. The recent avian ... Read More »

Thai Stock Exchange up 2.96 points

SET - Stock Exchange of Thailand

BANGKOK: The Stock Exchange of Thailand main index rose 0.19%, or 2.96 points, to 1,583.82 on Tuesday. Total trading value was 37.3 billion baht, with 11.6 billion shares changed hands. SET50 index gained 0.16%, or 1.59 points, to 1,000.98 in trade worth 22.4 billion baht. MAI fell 0.03%, or 0.18 points, to 598.83 in transactions worth 2.3 billion baht. Institutional ... Read More »

Thailand’s inflation rises 0.76%

inflation - 1

BANGKOK: Thailand’s inflation in March rose 0.76 per cent year on year, following a hike in fuel prices, resulting in combined inflation in the first quarter of the year of 1.25 per cent, according to the Commerce Ministry’s report. However, month on month inflation decreased 0.46 per cent from February, due to lower oil prices and a drop in some ... Read More »

Thai imports reach $845m

imports

BANGKOK: Imports from Thailand reached US$845 million by March 10 this fiscal year, US$119 million more than the previous year, a source at the Myawaddy trade camp said. Imports are rising ahead of the Thingyan water festival which falls on April 13. Exports were just US$55 million, up US$14.8 million from last year, compared to the previous year. Exports of ... Read More »

Thai Q1 exports seen up 1-2% yoy

THAILOAN'

BANGKOK: Thailand’s exports are expected to grow 1-2 percent in the first quarter from a year earlier as global demand improves, a group of shipping firms said on Thursday. Exports in March are expected to be stronger than in the previous month and close to those of last March, the Thai National Shippers Council said in a statement. Shipments were ... Read More »

Alibaba plans trade centre in Thailand

People walk at the headquarters of Alibaba in Hangzhou, Zhejiang province, April 23, 2014.    REUTERS/Chance Chan/Files

BANGKOK: E-COMMERCE giant Alibaba Group is still investing in Thailand, planning to set up a regional electronic-trade centre and logistics system here to link Cambodia, Laos, Myanmar and Vietnam (CLMV) markets, Industry Minister Uttama Savanayana said. In response to China’s biggest e-commerce company also setting its foothold in Malaysia, Uttama insisted that the group was still interested in Thailand and ... Read More »

Thai Revenue Department seeking THB16b from ex PM

Thai Revenue Department seeking THB16b from ex PM

BANGKOK: The Revenue Department has sent a letter to former Prime Minister Thaksin Shinawatra demanding 16 billion baht in taxes for the sale of the family’s stake in Shin Corp, a department source said. The letter comes amid growing pressure on the government to find ways to chase after taxes before the statute of limitation lapses. The letter specifies how ... Read More »

Thailand’s company to invest $2b in Philippines in 5 years

Thailand’s company to invest $2b in Philippines in 5 years
Charoen Pokphand Group (CP Group)

BANGKOK: Thailand’s largest agricultural company is set to pour in $2 billion to expand its pork and chicken production in the Philippines in the next five years, Agriculture secretary Emmanuel Piñol said. Charoen Pokphand Group (CP Group) chairman Dhanin Chearavanont said they decided to invest more in the Philippines because of its distinction as the only country in the whole ... Read More »

Nepal Police arrest 4 Thai including nun for currency smuggling

tribhuvan-international-airport

KATHMANDU: Nepal Police arrested four Thai citizens, including a Thai nun, from Tribhuvan International Airport on the charge smuggling foreign currencies. According to DIG Pankaj Shrestha at the TIA, the four Thai citizens were scheduled to fly to Thailand on Thai Airlines flight on Friday. Police has acquired US $ 286,162 and Indian Rupees 273,180 and 46,800 Thai baht from ... Read More »

Thai police nabs a Malaysian, recovered 65kg heroin, 300,000 pills

heroin and yaba pills

BANGKOK: Thai police detained a Malaysian, following three days of surveillance, in connection with the seizure of 65 kilogram of heroin bound for Penang. The heroin was found inside a car the suspect and his Thai accomplice were travelling in, at the Nakhon Si Thammarat province. A police team which intercepted the duo in the Tham Pannara district also stumbled ... Read More »