Thailand Morning News For February 23

Thailand Morning News For February 23

Thailand morning newsIndustrial confidence index rises
The Federation of Thai Industries yesterday (Feb 22) reported the industrial confidence index for January rose to 91.0 points from 89.1 in December 2017.
— Thai PBS

Thailand to declare IUU-free Thailand
The Spokeswoman for the Ministry of Foreign Affairs, Bussadee Santipitak, said the Thai government will declare the policy of Thailand being freed from Illegal, Unreported, and Unregulated (IUU) fishing.
— NNT

BOT boss warns of possible stormy seas ahead
Bank of Thailand governor Veerathai Santiprabhob has warned there is a risk of bigger market corrections ahead, saying global rate hikes could adversely affect Thai firms.
— The Nation

Commerce assures stronger baht won’t hinder export expansion
The continual appreciation of the Thai baht currency won’t hinder export growth this year and the growth target at 8% will be achieved, the minister of commerce assured yesterday.
— Thai PBS

Somkid warns of digital stall
Digital transformation in Thailand should be complete by 2021 or the economy will face falling GDP growth and fail to become a digital economy, says Somkid Jatusripitak, the Deputy Prime Minister.
— Bangkok Post

Thailand in No Rush to Raise Interest Rates: Central Bank Chief
Thailand is in no rush to tighten its monetary policy despite rising global interest rates, thanks to ample domestic liquidity and benign inflation, the central bank governor said on Thursday (22/02).
— Jakarta Post/ Reuters

Digital economy tipped to reach $37 billion in 2025
THE value of Thailand’s digital economy is expected to surge to US$37 billion in 2025, a report says.
— The Nation

Survey shows rural people still lack access to both regulated and unregulated financial services
The Puey Ungphakorn Institute for Economic Research (PUIE) says rural people still lack access to financial services, particularly those living in the northeastern provinces.
— Thai PBS

NLA vote down all seven election commissioner nominations
The National Legislative Assembly (NLA) on Thursday (Feb 22) voted down all the seven election commissioners nominated by the selection committee.
— Thai PBS

Russia floats idea of innovation pact
RUSSIA wants to work with Thailand to set up a joint innovation fund as a vehicle for collaboration on a range of innovations and research and development aimed at boosting the digital economies of both countries, Deputy Prime Minister Somkid Jatusripitak said.
— The Nation

Premchai defers his meeting with police to March 5
THE EMBATTLED president of Italian-Thai Development (ITD), Premchai Karnasuta, yesterday again sought a postponement of his scheduled meeting with police to March 5 to hear additional charge of cruelty to animals .
— The Nation (annoying popups)

Representative Russian business mission to visit Thailand
A representative Russian business mission is visiting Bangkok from February 20th – 22nd to explore investment opportunities in the Eastern Economic Corridor and discuss prospects of cooperation with their Thai counterparts in joint investments.
— News Today (video)

Labor Minister briefs on labor-related issues in Thai fisheries and seafood processing sectors
The Labor Minister, Pols. Gen. Adul Sangsingkeo, has reassured Thai and foreign press members that Thailand remains committed to combat human trafficking and address labor issues in the fishing and seafood processing industries.
— NNT

Army told to pay mother of slain son
THE CIVIL Court yesterday ordered the Royal Thai Army to pay Bt1.87-million compensation to a woman whose only son died in a military prison two years ago.
— The Nation (annoying popups)

BOT releases report on Thailand’s financial services
The Bank of Thailand has released the latest report on the country’s financial services.
— News Today (video)

Risks flagged on takeover bets abroad
CONCERNS have been raised over a spate of aggressive moves in mergers and acquisitions (M&As) by Thai companies, with a top ratings agency casting doubts over whether these deals will generate higher profits.
— The Nation

Suvarnabhumi to get low-price food corner next month
Suvarnabhumi Airport will open a new low-price food corner in the airport compound next month, a deputy director of the airport said on Thursday.
— The Nation

Light transit, tram plans ‘make progress’ in 5 centres
The government is planning to build new light rail transit and tram systems in Chiang Mai, Phuket, Nakhon Ratchasima, Khon Kaen and Phitsanulok under its policy to develop faster and more modern ttransport upcountry.
— Bangkok Post

Administrative, justice reforms to be pushed forward
The public administrative and justice reform committees have announced plans to expedite their work, aiming to respond to the Thai people’s needs and to give them easier access to state services.
— NNT

Thailand – KSL expects to crush up to 30% more cane in 2017/18
Thailand’s fourth largest sugarcane crusher, KSL, expects to process between 8.5 and 9.0 mln tonnes in 2017/18, up from 6.8 mln last season. This would be above the increase of around 18% to 110 mln tonnes which is forecast for the whole country.
— Agra

Doubling of Thai investments in Cambodia targeted
CAMBODIAN Commerce Minister Sorasak Pan expects the value of Thai direct investments in his country will double by 2020, driven by expansion in services, agricultural processing, small and medium-sized enterprises and restaurants.
— The Nation

ThaiBev riding Asean acquisition wave
Thai Beverage Plc, Thailand’s largest food and drink company, controlled by billionaire Charoen Sirivadhanabhakdi, is getting close to fulfilling its 2020 vision to become a sustainable Asean leader after completing four major acquisitions worth 200 billion baht in the first quarter of its fiscal 2018 (October to December 2017).
— Bangkok Post

PM urges farmers to cultivate according to market’s demand
The Prime Minister, Gen. Prayut Chan-o-cha, visited Laem Bua Learning Center for Agricultural Productivity in Nakhon Pathom province to follow up on the community’s success in following His Majesty the late King Bhumibol Adulyadej’s royal initiatives and applying technology to reduce the rice production cost.
— NNT

Trade between Thailand, Cambodia grows 10%
Bilateral trade between Cambodia and Thailand reached $6 billion last year, up 10 percent from the year before, according to a Thai Embassy official. Jirawuth Suwanna-arj, minister counsellor at the Office of Commercial Affairs in the Thai Embassy, announced the figure yesterday at an event sponsored by the Thai Ministry of Commerce.
— The Phnom Penh Post

Thai export growth at 5-year high in January
Thailand’s exports have registered the highest growth rate in five years.
— News Today (video)

Greenpeace appeals to PM to tackle air pollution ‘crisis’
Environment group Greenpeace on Thursday called on Prime Minister Prayut Chan-o-cha to tackle an air pollution “crisis” in Bangkok, weeks after a pollution agency said the city’s air quality had hit dangerous levels.
— Bangkok Post

Over 100 million baht worth of unlicensed cosmetic and food supplements seized
Officials of the Food and Drug Administration (FDA), Crime Suppression Division and local officials seized over 100 million baht worth of unlicensed food supplements and cosmetics in a raid of two warehouses in Nakhon Ratchasima.
— Thai PBS

Hitachi Consulting Selected to Design ‘Smart City’ Services For One Bangkok, Thailand’s Largest Private Sector Property Project
Hitachi Consulting Corporation, a subsidiary of Hitachi, Ltd (TSE: 6501), and a leading provider of consulting-led solutions and services, today announced that is has been retained by Frasers Property and TCC Group, to assist in the design of “smart city” services for One Bangkok. One Bangkok is Thailand’s first fully integrated district that is built on people-centric principles and a focus on environmental sustainability and smart city living.
— Cision PR Newswire

Thailand’s Kasikornbank selects Avaloq to support private banking business
KASIKORNBANK (KBank), one of the largest commercial banks in Thailand, has chosen the Avaloq Banking Suite to support the growth of its private banking and wealth management business.
— Finextra

PTTGC announces its operating results for 2017 with its highest-ever net profit of 39,298 million baht
PTT Global Chemical Public Company Limited (PTTGC), Thailand’s largest integrated petrochemical and refining business, today announced it earned a net profit of 39,298 million baht in 2017, the highest ever for the company since it was established.
— Cision PR Newswire

Thailand’s Siam Commercial Bank selects Thomson Reuters’ wealth platform
Thailand-based Siam Commercial Bank (SCB) has selected various wealth management solutions from information service provider Thomson Reuters.
— Verdict

SCBAM mulls new crypto fund
SCB Asset Management (SCBAM) aims to retain its top spot in terms of assets under management (AUM) in the industry through offering new investment products, with the possibility of launching a cryptocurrency fund.
— Bangkok Post

Transport Minister: Bangkok to soon look better with 11 active electric rail routes
The Transport Minister has assured the public that Metropolitan Bangkok will look much more modern when 11 electric rail routes become active in the foreseeable future.
— News Today (video)

Thailand pushes Erawan and Bongkot gas field auctions to April
Thailand expects auction terms for its petroleum gas fields to be ready in April, a month later than previously indicated, Energy Minister Siri Jirapongphan told reporters on Thursday.
— Reuters

Police Link Deep South Islamic School to Rebels
Police filed sedition charges against executives of a private Islamic school in Thailand’s Deep South after receiving a formal complaint from the military that the learning institution had links with rebels, officials said Thursday.
— Benar News

Aflatoxin found in all 27 milk samples tested, but they are still safe for consumption
Twenty-seven samples of school milk and fresh milk from retail stores were all found to be contaminated with aflatoxin, a poisonous carcinogen produced by fungi, but its amount is within acceptable level, according to the Foundation for the Consumers’ Smart Buyer Magazine.
— Thai PBS

Phuket wastewater-treatment plant to empty into Nai Harn Lake
Officials say local residents should not be worried about a wastewater-treatment plant under construction beside the scenic Nai Harn Lake as they claim that the wastewater that will be emptied into the lake – once treated – will not pose any health risks or detract from the lake’s natural beauty.
— The Phuket News

 

Feature photo John Le Fevre

 

Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

 

Thailand morning news by AEC News Today is your one stop source for Thailand news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies not politics.

 

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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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