Thailand Morning News For June 2

Thailand Morning News For June 2

Thailand morning news

PromptPay ‘a big success’
In four months, PromptPay transactions already exceeded the numbers seen in some European countries over two years.
Bangkok Post

IMF: Thailand has policy room to cushion effects of slow growth

Thailand can deploy monetary and fiscal steps to cushion the effects of low inflation and slow economic growth as the country’s recovery remains modest and there are downside risks, the International Monetary Fund (IMF) said.
— The Star

14 million low-income earners request social welfare
As many as 14 million low-income earners have registered with the Ministry of Finance in a social welfare program designed to improve their lives.
– NNT

Bank of Thailand chief: No trace of a bubble
There are no signs of dramatic growth in borrowing for property speculation activities, while banks have been better at managing risks associated with project financing, says Bank of Thailand governor Veerathai Santiprabhob.
Bangkok Post

Thai Tuna industry commends government for solutions to IUU fishing
President of the Thai Tuna Industry Association Chanin Chalitsaraphong has expressed confidence in the government’s measures to tackle the IUU fishing over the past two years. He said the measures will likely cause the EU to issue a “green card” instead of a “yellow card” to Thailand.
– NBT World (VDO)

BSR keen to add to EEC deals
BSR Joint Venture Group has flagged it wants to chase work on all the infrastructure projects in the Eastern Economic Corridor (EEC) after the group won approval to build two monorail routes worth Bt100 billion.
– The Nation

BOI approves further support for investment projects
The Board of Investment (BOI) has extended an investment support program for the border economic development zones to the end of 2018, while supporting digital infrastructure development in order to enhance internet service to the Thai people.
– NNT

Thailand ranks world’s 27th most competitive nation
Thailand has been ranked the world’s 27th most competitive nation, up from last year’s ranking, according to the International Institute of Management Development (IMD).
– NNT

Court blocks NBTC seizure of Thai TV funds
Pending ruling on Thai TV lawsuit halts govt move; case considered important precedent.
— The Nation

BTS eyes investments in Pink and Yellow lines and extension lines
BTS Group Holding Plc will invest about 6 billion baht for the construction of two extension routes of the Pink Line from Chaengwattana to Impact Arena and the Muang Thong Thani lake and of the Yellow Line from the Lat Phrao underground station to the Ratchayothin intersection of the Green Line.
– Thai PBS

Lazada ready to set up E-Commerce Park in EEC
Lazada Thailand, a company within China’s Alibaba Group, is expected to select a location to establish its electronic-commerce park in the Special Economic Zone of the east within the next two months and begin operation in early 2019.
– NBT World (VDO)

Thailand expects cap on sugar content by 2018
Thailand is expected to introduce a sugar cap by next year, according to the national food regulator.
– FoodNavigator-Asia

Thailand government sets up Manufacturing Automation and Robotics Academy in partnership with industry
MARA will support the new engine of growth in 10 selected industries in the Eastern Economic Corridor in four provinces, Chachoengsao, Samut Prakan, Chon Buri and Rayong.
Open Gov

Debt Clinic sees overwhelming demand
Debt Clinic, a centre to pool unsecured soured loans of 16 local and foreign commercial banks with the aim of turning them into performing assets, has received a stronger than expected response from borrowers.
— Bangkok Post

Torture victim sues Thai police
After almost 8 years of legal battle, a torture victim wrongfully arrested as a theft suspect has lodged a civil lawsuit against the Thai police.
– Prachatai English

Submarine deal shows Thailand’s growing reliance on China
The Royal Thai Navy’s purchase on a Chinese submarine contributes to Thailand’s increasing dependency on the eastern country as well as the military’s growing budget trend, a security expert said on Wednesday.
— The Nation

BTS unit gains 24 Europe hotels
U CITY, a property unit of BTS Group Holdings, has added 24 European hotels to its hospitality business under a Bt12.3-billion acquisition that also includes a hotel-management platform with operations in nine countries.
– The Nation

BTS eyes investments in Pink and Yellow lines and extension lines
BTS Group Holding Plc will invest about 6 billion baht for the construction of two extension routes of the Pink Line from Chaengwattana to Impact Arena and the Muang Thong Thani lake and of the Yellow Line from the Lat Phrao underground station to the Ratchayothin intersection of the Green Line.
— Thai PBS

Huawei plots digitisation roadmap
Broadband, cloud computing, digital literacy and an innovation ecosystem are four key foundations for executing Thailand’s digitisation roadmap, according to a white paper proposed by Huawei Technology.
— Bangkok Post

BOI backs two logistics projects worth Bt12 bn
THE BOARD OF INVESTMENT yesterday blessed two logistics projects worth nearly Bt12 billion to push Thailand towards hosting hubs for logistics and aviation.
— The Nation

SEC to ease e-payment info services
The Securities and Exchange Commission (SEC) plans to license e-payment securities settlement information service providers, a move that is expected to ease brokerage companies’ back office workload.
— Bangkok Post

PTT revises capex around EEC plans
PTT Plc, the country’s national oil and gas conglomerate, and its subsidiaries are revising their five-year capital expenditures (capex) and investment plans to match the rise of the Eastern Economic Corridor (EEC), which the group is keen to invest in.
— Bangkok Post

BTS unit gains 24 Europe hotels
U CITY, a property unit of BTS Group Holdings, has added 24 European hotels to its hospitality business under a Bt12.3-billion acquisition that also includes a hotel-management platform with operations in nine countries.
— The Nation

IMF calls for buffers against low inflation
Thailand can deploy both monetary and fiscal policies to cushion the risks of low inflation and slow economic growth as the country’s ongoing recovery remains modest and faces downside risks, according to the International Monetary Fund (IMF).
— Bangkok Post

Thailand and Chile Agree to Extend FTA Signed in 2015
Representatives of the Thai and Chilean governments have agreed to expand their Free Trade Agreement, signed in 2015, during their first bilateral meeting since the agreement was put into effect, the Thai Ministry of Commerce said in a statement Thursday.
— Latin American Herald Tribune

Lower house value tax trigger sought
THE Finance Ministry has suggested to the National Legislative Assembly’s monetary and fiscal committee to lower the value of houses from the proposed minimum of Bt50 million to Bt10 million for levying the land and buildings tax.
— The Nation

Spotify is expanding its services to Vietnam and Thailand
The music podcast and video streaming service, Spotify, is planning to expand its business in Vietnam and Thailand. They have been present on the Asian market from before, operating successfully in Hong Kong, Japan, Taiwan, Malaysia, Indonesia, Singapore and the Philippines.
Born2Invest

Thailand’s new land and buildings tax bill to see considerable changes
The Government Housing Bank has organized a seminar to discuss what the public can expect from the new land and buildings tax law, which will come into effect at the beginning of 2019
– NBT World (VDO)

SEC to ease e-payment info services
The Securities and Exchange Commission (SEC) plans to license e-payment securities settlement information service providers, a move that is expected to ease brokerage companies’ back office workload.
— Bangkok Post

 

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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 35 years experience as a journalist, photographer, videographer and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia.

He has covered major world events including the 1991 pillage riots in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010 and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

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