Latest Thailand breaking news and Thailand information on the latest top stories from foreign countries around the Thailand. A daily round-up of the latest international news from Thailand
Friday, March 20, 2009
Ministry of Defense says thase us of southern violence photos in censure debate inappropriate
Metropolitan Police 1 to finalize PAD seizure of Suvarnabhumi case in 2-3 weeks
Food, energy and water shortage to face the world within 21 years
Deputy Prime Minister urges police to clear up old cases
Deputy Prime Minister tells police to combat narcotics under rule of law
Tuesday, March 10, 2009
Thai Baht trades at 35.98-36.04 against the US dollar
Thai Baht trades at 35.98-36.04 against the US dollar
Thai local currency closed at 35.98-36.04 against the US dollar after the market closed this afternoon (March 10), moderately appreciating from today’s morning trade session of 36.12-36.14 against the US dollar.
Thai baht became stronger today in line with regional markets while the US dollar currency has slightly depreciated. The mild devaluation of the US dollar currency was due mainly to worries over the US and global economic problems, growing amongst investors. Thai baht is prone to get weaker in the range of 36.00-36.10 against the US dollar.
As for other major foreign currencies, the Japanese Yen traded at 98.38-98.42 against the US dollar, stronger than this morning’s trading of 98.88-98.90 against the US dollar. At the same time, the Euro traded at 1.2700-1.2705 against the US dollar, stronger in this morning’s trading at 1.2636-1.2638 against the US dollar.
National News Bureau of Thailand
10 March 2009
Revenue collection for first 5 months of 2009 reaches below target
Revenue collection for first 5 months of 2009 reaches below target
The Director of the Fiscal Policy Office (FPO) has indicated a below-target revenue collection for the first five months of fiscal year 2009 due to the effects from the global economic slowdown.
Director-General of the FPO Somchai Sajjapong revealed that, in February 2009, the government could collect revenue worth 82.43 billion baht, lower than its target by 23.48 billion baht. The taxes which failed to reach their targets consisted of value added tax (VAT), automobile tax, and import duty.
Meanwhile, the revenue collection for the first five months of the fiscal year stood at 451.527 billion baht, lower than expected by 88.5 billion baht. Mr. Somchai addressed the decline as a result from the global economic slowdown, which had affected the country’s economy, combined with the previous government’s oil excise tax cut in compliance with its six-month six measures effective during October 2008 to January 2009.
However, the FPO Director affirmed that the Finance Ministry would closely watch over the fiscal condition and discipline in order to steadily maintain government expenditures.
National News Bureau of Thailand
10 March 2009
Cabinet agrees to get US$2 billion foreign loans
Cabinet agrees to get US$2 billion foreign loans
In an effort to boost the economy continuously, the Cabinet agreed to borrow two billion US dollars from three foreign sources to support its economic stimulus plan.
According to the conclusion from the Cabinet meeting chaired by Prime Minister Abhisit Vejjajiva today (March 10), the endorsement to get the loans would be forwarded to the House of the Representatives soon in a bid to seek an endorsement.
The loan amounting to one billion US dollars will be from the World Bank; while the rests will be sought from the Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA). In a separate development, the Cabinet also agreed to resort to a loan to finance the purple-line subway electric rail construction project, stretching from Bang Yai to Ratchaburana and Bang Yai to Bang Sue.
National News Bureau of Thailand
10 March 2009
SET Index edges up by 3.27 points
SET Index edges up by 3.27 points
Stock Exchange of Thailand (SET) Index gained 3.27 points or 3.27 percent to close at 414.54 points with a market value of 2.843 billion baht after the market closed this morning (March 10).
Top five most active values were as follows.
PTTEP increased to 88.00 baht, up by 4.00 baht with a market value of 585.07 million baht.
PTT increased to 144.00 baht, up by 3.00 baht with a market value of 312.78 million baht.
BANPU increased to 206.00 baht, up by 6.00 baht with a market value of 233.09 million baht.
SCB increased to 54.00 baht, up by 1.00 baht with a market value of 160.62 million baht.
ADVANC decreased to 81.00 baht, down by 2.50 baht with a market value of 138.21 million baht.
National News Bureau of Thailand
10 March 2009
Commerce Ministry speeds up seeking new export markets
Commerce Ministry speeds up seeking new export markets
Permanent Secretary for Commerce Siriphon Yodmuangcharoen said he would accelerate the search for new export markets for Thai products, after the Economist Intelligence Unit (EIU) forecast exports and gross domestic product (GDP) expansion to be negative worldwide.
Mr.Siriphon said that according to EIU forecast, GDP expansion of countries worldwide would decrease, while export growth would be two-digit negative. Asia would be negative all over the region, therefore the ministry had prepared to tackle the situation by finding new markets for Thai products, building Thai brand to be accepted, and adding values to products with intellectual property.
Besides Commerce Ministers worldwide had been instructed to study the structure of import and export in each country in order to expand market of Thai products, especially African and Middle Eastern markets, which were the focus of attention of Commerce Minister Phonthiwa Nakhasai who had traveled for trade talks continuously. He pointed out that in the United States and Europe, people still had purchasing power as they had good social welfare.
The Permanent Secretary added that export value expansion in February was still not better than in January, which was negative at 26.5 per cent but the Ministry would try its best to shore up the situation by focusing on agricultural products, which took a big portion of exports and involved up to 20 million workers. New markets would therefore be sought for agricultural products.
National News Bureau of Thailand
10 March 2009
Commerce Ministry changes cassava transfer control
Commerce Ministry changes cassava transfer control
The Commerce Ministry has changed the cassava transfer control, leaving only seven districts in three provinces to ask for permission before transferring.
Commerce Minister Porntiwa Nakasai said that the Central Commission on Prices and Services Control has agreed to change the regulation on cassava transfer control.
The existing regulation prescribes 24 border provinces to ask for permission before transferring more than 1,000 kilograms of cassava and cassava root both in and out of the provinces.
The new regulation will fix only seven districts in three provinces to ask for permission before transferring more than 5,000 kg of cassava and cassava root into the provinces.
BR> The provinces obliged with the new regulation include Mae Sot District of Tak Province, Ta Phraya, Khok Sung, Aranyaprathet and Khlong Hat Districts of Sa Kaeo Province, and Soi Dao and Pong Nam Ron Districts of Chanthaburi Province.
The Commission decides to control the transfer in the remaining seven districts since the areas are still at risk to cassava trafficking from neighboring countries, which will penetrate into the mortgaging scheme. Thai cassava farmers will then not receive the whole benefit from the project.
National News Bureau of Thailand
10 March 2009
Sunday, March 8, 2009
ASEAN rally group arrives Thailand
ASEAN rally group arrives Thailand
ASEAN Family Rally 2009’ from Vietnam and Laos arrived Thailand this afternoon in Mukdahan Province on the Mekong River.
Mukdahan Provincial Center of Tourism, Sports and Recreation Director Narongsak Kubunya-arak and over 100 Thai-Vietnamese and students welcomed ‘ASEAN Family Rally 2009’ crossing the Thai-Lao border at immigration office near the 2nd Thailand-Laos Friendship Bridge at Mueang District of Mukdahan Province.
The rally is led by Sawannakhet Deputy District Attorney Suban Kaeomeexai and Quang Tri Center of Tourism, Sports and Culture Director Vien Van Yung, consisting of 80 people in 20 cars.
‘ASEAN Family Rally 2009’ project is organized by the Ministry of Tourism and Sports to encourage tourism routes in Thailand and other ASEAN members as Thailand assumes the Chair of ASEAN.
The rally will resume tomorrow (9 March) from Mukdahan Province to join with the group from Cambodia at Sirindhorn Museum in Kalasin. Then the rally will head to Phitsanulok, the intersection of Indochina.
Initially, Myanmar planned to join the rally but had to cancel its participation due to the closure of Thailand-Myanmar Friendship Bridge in recent days. The blockade of the bridge was the result of bus entrepreneurs in Mae Sot district of Tak province who were affected by the overlapping routes of vehicles from Myanmar.
The withdrawal of Myanmar group has left just 4 countries,Thailand, Laos, Vietnam and Cambodia to complete this historic rally.
National News Bureau of Thailand
08 March 2009
DDPM warns people of thunderstorms
DDPM warns people of thunderstorms
The Department of Disaster Prevention and Mitigation (DDPM) warns people to be prepared for coming thunderstorms during 7-10 March.
The Meteorological Department forecasts that a high-pressure belt from China will cover the Northeast, East and Central Thailand, resulting in an extremely hot weather. The high pressure mentioned will then bring thunderstorms and strong gusts.
DDPM Director General Anucha Mokkhavesa warns people of dangers from thunderstorms, especially in some areas that may face hailstorms. Mr Anucha advises residents to strengthen their houses and avoid staying near advertising billboards or any structures that tend to collapse. Farmers are suggested to brace their plantations to avoid damages from the storms.
Mr Anucha added that the department has advised Disaster Prevention and Mitigation Regional Centers in 40 provinces to assign officials to monitor the situation around the clock, and prepare equipments to cope with casualties while warning local residents to prepare for the storms.
National News Bureau of Thailand
08 March 2009
Thailand to host conference on atomic power use
Thailand to host conference on atomic power use
The Office of Atoms for Peace (OAP) reveals that 13 countries in Asia and the Pacific have confirmed their attendance in the conference on increasing productivity by atomic power use, which will be organized in Thailand during March 9-17.
OAP Secretary-General Sirichai Keinmeesuke revealed that Thailand would host a conference of the Regional Cooperation in Asia and the Pacific (RCA) Project on Raising Productivity in the Coal, Minerals and Petrochemical Industries by using Nucleonic Analysis System and Radiotracers during 9-17 March 2009 at Pullman Hotel in Bangkok.
Mr Sirichai said that OAP would assume the role of coordinator between Thailand Institute of Nuclear Technology (TINT), the organiser and the International Atomic Energy Agency (IAEA).
Currently, there are 13 countries confirming to attend the conference, namely Australia, Bangladesh, China, India, Indonesia, South Korea, Mongolia, Myanmar, New Zealand, Pakistan, Philippines, Sri Lanka and Vietnam.
Discussions on radiation technology in petroleum and coal industries as well as the use of low radioactive rays to trace radioactive leakage will be brought up in the conference.
The main goal of the conference is the most efficient and safest use and development of atomic energy in the region.
National News Bureau of Thailand
08 March 2009
CP aims to export more mangoes
CP aims to export more mangoes
Crop Integration Business Group,Chareon Phokaphand Group (CP) aims to increase exports of mangoes to 2,000 tonnes, targeting at Japan and Hong Kong, with sea freights helping the company to reduce transportation cost by 65 percent.
Mr Montri Congtrakultien, CEO and President of Crop Integration Business Group of CP said that the current global economic slowdown does not affect Thai fruit exports, especially for Nam Dokmai and Maha Janaka strains.
Last year, exports of the mangoes to Japan alone were up to 1,500 tonnes, followed by exports to Mexico and Philippines. It is expected that exports of the fruits will increase to 2,000 tonnes this year.
Mr Montri also said that the company has developed a technology to ship Maha Janaka mangoes to preserve the freshness and deliciousness of the fruits. The technology also reduced transportation cost of the company by 65 percent.
The company plans to increase its exports of mangoes to China and Hong Kong from 650 tonnes last year to 1,500 tonnes and further to 4,000 tonnes in 2010.
Mr Montri added that the company had a plan to export pomeloes to Japan, Singapore, Malaysia and other Middle Eastern countries, apart from the main existing markets such as China and Hong Kong. A 10,000-tonne export of pomeloes is expected.
Still, Mr Montri asked related Governmental agencies to help promote Thai fruits to international markets in order to help export sectors and Thai farmers.
National News Bureau of Thailand
08 March 2009
Rubber farmers warned not to plough their land
Rubber farmers warned not to plough their land
Rubber planters are warned not to plough their land during the dry season since such action will increase the evaporation of ground water and the withering of rubber trees.
Mukdahan Rubber Replanting Aid Operation Center Caretaker Director Thurapol Kanarbkaew warned rubber farmers not to plough their land during the dry season. He suggested farmers to cut grass and weeds instead of ploughing the whole plantation.
Rubber planters usually plough their land to prevent wildfires. Mr Thurapol said that although the method was effective, it would increase the rate of evaporation of ground water.
Mr Thurapol said that during the dry season, water in the ground would evaporate faster than usual and so would rubber trees wither, resulting in cracks on the tree trunks.
Farmers are advised to prevent damages to their plantations, especially rubber trees aged 2-3 years by covering the base of the trees with weeds.
He also suggests farmers to coat the trees with a mixture of lime and water at a ratio 1:1 left overnight, to protect the surface and the trunks of the trees from prolonged exposure to strong sunlight.
National News Bureau of Thailand
08 March 2009
Government sets up one stop service post to help investors
Government sets up one stop service post to help investors
The Government has established a "One Start One Stop" service post for investors at the Office of the Prime Minister to assist Thai and foreign entrepreneurs facing problems with their businesses.
Prime Minister Abhisit Vejjajiva revealed in the "Confidence in Thailand with Prime Minister Abhisit" this morning that his administration was pushing ahead with its effort to shore up the ailing economy with economic stimulation plans for the medium and long terms in the hope to attract more private investments.
The Prime Minister admitted that many existing regulations, created across a gambit of agencies, had become a long standing problem for Thai and foreign businesses, demanding both their time and capital. The Government's economic ministers have thus approved in principal the adjustment of investment regulations.
The government effort to aid businesses will include the establishment of a "One Start One Stop" service center at the Office of the Prime Minister. The post will gather authorities from all relevant agencies pertaining to investment so that they are ready to help entrepreneurs and reduce the costs involved in complying with investment regulations.
National News Bureau of Thailand
08 March 2009
Govt to overhaul school milk project in light of discrepancies
Govt to overhaul school milk project in light of discrepancies
The Prime Minister has confirmed the government’s preparation to improve raw milk quality and expand its market, revealing that plans have been underway to reorganize the system used for acquiring school milk.
Prime Minister Abhisit Vejjajiva asserted on his weekly “Having Confidence in Thailand with PM Abhisit” program this morning (March 8) that the surplus of raw milk in the market as well as the discovery of discrepancies in the purchase of milk to be used in school programs have not been left unheeded by the government, stating that a meeting among relevant ministers as well as agriculturalists has been called. As an initial resolution from the meeting, the premier said that the raw milk market would be expanded by extending the school milk project, currently available to children up to the 4th grade, to cover the 5th and 6th grades as well while the milk would be supplied for an increased 260 days per year. Current agreements with milk producers will remain effective until April 28, after which a re-evaluation of purchase prices will take place.
Speaking of suspicions of corruption in the school milk project, PM Abhisit said that zoning limitations for the purchase of milk will be lifted while local administrative organizations will be given the authority over the project for the time being. He assured that the government would reimburse any loss incurred by recent discrepancies in the project. The Prime Minister added that the quality of school milk would improve with the increase in number of boxed milk, which has longer shelf life than the bagged milk.
National News Bureau of Thailand
08 March 2009
FM to visit Myanmar to discuss illegal immigration problem
FM to visit Myanmar to discuss illegal immigration problem
The Minister of Foreign Affairs is preparing to confer with the Myanmar government over the illegal Rohingya migrant and illegal labor issues being faced by Thailand during his visit to the country this March 23.
Minister of Foreign Affairs Kasit Piromya traveled today (March 8) to Ranong province to meet with provincial Governor Wanchart Chaichana in the aim to clarify government policies. The governor also took the opportunity to inform Mr. Kasit of current problems troubling the area, including the illegal Rohingya migrants, which the minister in turn affirmed to bring up for discussions with the government of Myanmar during his visit to the bordering nation on March 23.
Ranong is currently facing many issues entering the province from the adjacent Myanmar, including illegal migration of the Rohingya people, illegal laborers, as well as smuggled wood.
Meanwhile, Mr. Kasit also held a government policy dissemination seminar at the Ranong Stadium with some 1,500 local residents in attendance.
National News Bureau of Thailand
08 March 2009
Friday, March 6, 2009
DPM promoted government policies to Phichit people
DPM promoted government policies to Phichit people
Deputy Prime Minister Sanan Kajornprasart visited Phichit to promote government policies in countering economic slump and pleaded all sides to be united.
Major General Sanan visited people in Phichit’s Taphan Hin and Tap Khlo Districts to promote the government's urgent policies during economic crisis period. Many policies such as village fund, crops price guarantee, unemployment rescue and livelihood grant for the elderly were told to the people.
He also asked Phichit people to be united, not to discriminate against each others, work purposefully and reduce expenses.
National News Bureau of Thailand
06 March 2009
PM : all libel cases will be treated impartially
PM : all libel cases will be treated impartially
Prime Minister Abhisit Vejjajiva reaffirms today (March 6) that all libel cases will be dealt with impartially in accord to the nation’s legal procedures.
The Prime Minister said that he had already received a report on all libel cases, affirming that all cases will be impartially dealt with under the nation’s legal procedures.
Mr.Abhisit then added that he had not yet been notified on the details of the road block by tobacco factory workers’ rally that had disabled transportation, stating that he needs to consult with Mr. Korn Chatikavanij, the Finance minister, first.
The Prime Minister also admitted that he had been informed on the court’s ruling in the dispute between Lampang Electricity Generating Authority of Thailand and pollutant affected Lampang residents but had not yet received the full report on the case. The matter will be consulted with Mr. Suwat Khunkitti, the Natural Resources and Environment minister, first before any decision could be further made.
On the banning of alcohol distribution during Songkran Festival, the Prime Minister asserted that he had already delegated Deputy Prime Minister Major General Sanan Kajornprasart to be in charge of the matter.
National News Bureau of Thailand
06 March 2009
Police ready to safeguard Cabinet’s provincial visit tomorrow
Police ready to safeguard Cabinet’s provincial visit tomorrow
The Royal Thai Police Chief has confirmed full readiness of security units to provide safety for the Cabinet during its provincial visit tomorrow (March 7) while voicing no anxiety over possible protests.
Royal Thai Police Commissioner-General Police General Patcharawat Wongsuwan affirmed that the police have been readied to protect Prime Minister Abhisit Vejjajiva and all Cabinet members during their provincial visit tomorrow. He said orders have been directed to every provincial commander to adopt stringent security measures and closely monitor the situation.
Regarding the pressure from the government on the police’s operation, Pol. Gen. Patcharawat stated that he is not concerned as the police have their own working course. He also believed that the protest against the Cabinet, threatened earlier by the United Front of Democracy against Dictatorship (UDD), would only serve as a means to express its opinions and would unlikely cause any unrest.
The Commissioner-General revealed, after the Police Commission Meeting chaired by Deputy Prime Minister for Security Affairs Suthep Thaugsuban, that two more officers would be appointed as his deputies upon an approval from the Board of Royal Thai Police later on.
National News Bureau of Thailand
06 March 2009
Preecha Lertkamolmas selected as new chief of anti-graft panel
Preecha Lertkamolmas selected as new chief of anti-graft panel
The Senatorial session today (March 6th) appoints former deputy secretary-general of the National Counter Corruption Commission (NCCC) Preecha Lertkamolmas as new NCCC secretary-general in charge of scrutinizing the behaviors and work ethics of candidates for senatorial officials.
The Senate voted 99 to 3 votes with 3 senators abstaining during its 10-minute confidential meeting.
National News Bureau of Thailand
06 March 2009
OAG postpones hearing on Jakrapob’s lese majeste charge
OAG postpones hearing on Jakrapob’s lese majeste charge
The Office of Attorney-General (OAG) has adjourned its decision on indicting former PM's Office Minister Jakrapob Penkair on a lese majeste charge to April 29 while stating that further investigation are being conducted.
The OAG’s Criminal Litigation Department Director Kayasit Pitsawongprakan has decided to postpone its hearing date on whether to press charge against former PM's Office Minister and the United Front of Democracy against Dictatorship (UDD) core-leader Jakrapob Penkair following his allegation of lese majeste under Criminal Law Article 112 prompted by his speech made in English at the Foreign Correspondents' Club of Thailand on August 29, 2007.
Mr. Kayasit affirmed that investigative officials have been urged to expeditiously resume probing Mr. Jakrapob’s infamous statement concerning the Royal Institution due to previous irregularities in the official translation.
National News Bureau of Thailand
06 March 2009
Korn unconcerns over coming censure debate
Korn unconcerns over coming censure debate
Finance Minister Korn Chatikavanij expressed confidence over the coming censure debate, saying he had no flaw for the opposition party to grill.
Mr. Korn said that he was not concerned to be grilled by the opposition parties in the coming censure debate. On the other hand, he would like the Opposition to start the censure debate as soon as possible since he viewed it as a good opportunity to clarify all issues brought up by the Opposition instead of letting them remain distorted.
Mr Korn said that he did not know how much or how accurate information the opposition party had on hand. Nonetheless, Mr Korn said he remained confident that he had no defect for the Opposition to bring up against him.
National News Bureau of Thailand
06 March 2009
PM to amend lèse majesté law
PM to amend lèse majesté law
Prime Minister Abhisit Vejjajiva said the lèse majesté law would be amended in response to international academics’ request.
Mr. Abhisit stated that the lèse majesté law could be amended on its enforcement in order to be fair to all parties. However, the amended law would not affect bygone cases.
The Prime Minister added that he had already given some guidelines for law amendment to Police General Patcharawat Wongsuwan, the National Police Commissioner-General.
Previously, Dr Thongchai Winichakul, a professor from the University of Wisconsin-Madison and other 50 international scholars submitted a petition requesting Thai Government to amend the lèse majesté law.
The suggestions given by scholars include more concrete definitions of legal terms used in the law as well as the range of judicial power in legal proceedings. Therefore, the law will not be used as any political motives, claiming loyalty to the monarchy.
On the other hand, Minister to the Prime Minister's Office Satit Wongnongtoey criticized international academics’ request, saying that they knew nothing about the Thai monarchy.
National News Bureau of Thailand
06 March 2009
Senate Speaker confirms no lobbying to replace EC member
Senate Speaker confirms no lobbying to replace EC member
Senate Speaker Prasopsuk Boondet has expressed confidence that no lobbying would occur in the selection of new EC Commissioner to replace Mr.Sumeth Upanisakorn as the selection committee is credible.
The Senate Speaker spoke of the selection process launched to find a new EC member after Mr.Sumeth completed his term at the age of 70, saying that the Office of the Secretary-General to the Senate has already contacted the EC selection committee to initiate the process.
Mr. Prasopsuk said that a timeframe for the selection cannot yet be set but assured that the selection commission would strictly adhere to standard regulations.
On speculations that lobbying would occur to fill the vacant post, Mr. Prasopsuk stated that the committee is already a credible and established body to select a new EC member.
He said that the committee would await candidate names to be proposed before consideration.
National News Bureau of Thailand
06 March 2009
PM not worried about his provincial visit tomorrow
PM not worried about his provincial visit tomorrow
Prime Minister Abhisit Vejjajiva affirmed he was not worried about his Lop Buri visit, while clarifying that the transfer of Governor was due to performances.
Mr.Abhisit said he was not worried about his people visit tomorrow (March 7) in the central Province of Lop Buri, believing the police could keep the rally peaceful.
Mr. Abhisit said he had no knowledge about the rumor that there would be 1,500 police officers guarding him, asserting that it was due to police’ s consideration.
Asked about the case that Deputy Prime Minister Suthep Thuagsuban would transfer the Governor if chaos occurred, Mr. Abhisit said it would depend on performances and suitability.
National News Bureau of Thailand
06 March 2009
PM comments on PAD’s new party
PM comments on PAD’s new party
Prime Minister Abhisit Vejjajiva sees the proposed establishment of a new political party by the yellow shirt camp as a good option for the people but he does not know the reasons for the establishment.
Commenting on the news that the People’s Alliance for Democracy (PAD) would establish its own political party, the Prime Minister said he regarded the move as positive since voters would have more options in the elections.
Mr.Abhisit said he did not know the reasons for the establishment of a new party in response to PAD core leaders’ claims that they were disappointed with Democrat Party’s performance and Mr Abhisit’s lack of courage in his premiership. Anyway, Mr Abhisit said that he was always ready to clarify the matters.
Many news sources claim the establishment of a new political party of PAD named ‘Thian Haeng Dharma’ Party since December last year amid disputes of some yellow shirt protesters who disagreed with the move. However, the possibility was confirmed yesterday (5 March) by PAD core leaders, according to PAD coordinator Suriyasai Katasila.
Mr Suriyasai said that the new party was to drive PAD’s political ideology since PAD perceived that the possibility to achieve its goal by the existing political party remained very slim.
He added that there were so many restrictions impeding attempts to change or reform politics in Thailand, even for the ruling Democrat Party, the main party in the present government.
National News Bureau of Thailand
06 March 2009
FPO to propose 5 measures for tackling unemployment
FPO to propose 5 measures for tackling unemployment
The Fiscal Policy Office (FPO) has today (March 6) revealed the progress of its 5 measures designed to help the unemployed while expecting to bring the measures to conclusion soon before proposing to the Finance Minister.
Mr. Somchai Sajjapong, the Director-General of the FPO, reported the progress of 5 measures initially laid out in order to deal with the rising unemployment problem, which include the following:
1. A tax measure to allow workplaces suffering financial losses to apply for tax deduction in double amount on their employees’ compensation in the attempt to prevent layoffs.
2. A measure for setting up a welfare fund covering 20 million laborers in the informal sector, such as taxi drivers and street vendors.
3. A measure to encourage the provincial administrative organizations to spend their leftover 100-billion-baht budget on initiating various projects, which can subsequently create jobs.
4. A measure for public financial institutions to come up with specialized projects for labor with cooperation from other related bodies, for instance the Ministry of Tourism and Sports.
5. A measure to push for successful establishment of the National Pension Fund after having been rejected by previous governments.
Mr. Somchai then informed that, upon the FPO’s final conclusion on the measures in the near future, they will be immediately proposed to Minister of Finance Korn Chatikavanij for consideration.
National News Bureau of Thailand
06 March 2009
Finance Ministry ready to increase credit guarantee for small business owner
Finance Ministry ready to increase credit guarantee for small business owner
Finance Ministry is ready to provide more guarantee for the Small Business Credit Guarantee Corporation (SBCG) in case the demand in small business loan exceeds 30 billion Baht.
Finance Minister Korn Chatikawanit presided over the contract signing ceremony between Finance Ministry, SBCG and 16 commercial banks in Credit Guarantee Project worth 30 billion Baht.
He said that the project would enable small business owners to access the loans easier and it is better than asking for more lending from commercial banks because this cooperation project would decrease risk in lending of commercial banks as the government would guarantee the credit by 15.5 per cent of the loans.
The demand of loan could be concluded in September, if it exceeded 30 billion Baht as in the contract, the Finance Ministry would increase the credit guarantee. The budget which was used in this project would be from fiscal budget year 2010 and domestic loan.
President of Kasikornbank Prasarn Triratworakul said that the bank expected to expand small business loan for 20-30 billion baht, the guarantee project of government could make the bank increase its lending.
National News Bureau of Thailand
06 March 2009
SET Index edges down by 0.22 points
SET Index edges down by 0.22 points
Stock Exchange of Thailand (SET) Index lost 0.22 points or -0.05 percent to close at 416.89 points with a market value of 2.769 billion baht after the market closed this morning (March 6). Despite the movement in a narrow range, Thai stocks today appeared better than regional trading.
An analyst reported that regional markets averagely declined by 0.5-1 percent while Thai stocks deteriorated due to negative factors from Dow Jones Industrial Index and the lack of clarity of the Chinese government’s economic stimulus measures. Despite the gloomy perspective, investors still have power purchasing to plough their money in Thai stocks.
Thai bourse today is expected to face a trade fluctuation but in a narrow range with its projected support line of 411 points and expected resistance line of 424 and 429 points.
Top five most active values were as follows.
PTT decreased to 144.00 baht, down by 1.00 baht with a market value of 388.56 million baht.
PTTEP decreased to 84.00 baht, down by 1.00 baht with a market value of 291.40 million baht.
BANPU increased to 204.00 baht, up by 2.00 baht with a market value of 218.54 million baht.
SCB increased to 55.50 baht, up by 0.50 baht with a market value of 186.09 million baht.
BBL increased to 74.50 baht, up by 0.50 baht with a market value of 157.56 million baht.
National News Bureau of Thailand
06 March 2009
Finance Minister reports improved consumers’ purchasing power
Finance Minister reports improved consumers’ purchasing power
Finance Minister Korn Chatikavanij reports improvements in consumers’ purchasing power and prepares plans to deal with global fluctuating economy.
After presided over the opening ceremony of ‘Living in Style 2009’ today (6 March) at Siam Paragon Complex and having a discussion with real estate business entrepreneurs, Finance Minister Korn Chatikavanij said that there has been an improvement in consumers’ purchasing power since January.
Mr Korn said that housing sales have been increasing since consumers are more confident on political stability and remedies given by the Government to the real estate sector. He further said that the Government is ready to support the industry since the industry can help stimulate the economy from construction material, furniture businesses to more employment.
There is also an improvement in the tourism industry. Number of tourists traveling to Thailand has started to return to ordinary although the number is not as high as the same period last year due to the lower purchasing power of tourists resulted from the economic downturn.
Mr Korn said that the Government still has to implement more stimuli to boost the economy since both Thai and global economy are still fluctuating. It is also expected that the economic damages will continue. Anyway, Mr Korn affirmed that the Government has already prepared plans to mitigate such problems directly for the people and through entrepreneurs.
National News Bureau of Thailand
06 March 2009
DCM Alongkorn to request additional budgets to support exports
DCM Alongkorn to request additional budgets to support exports
Deputy Commerce Minister Alongkorn Ponlaboot considers requesting additional budgets totaling five billion baht from the government to extend the country’s import markets and promote investments in a bid to prop up Thai exports throughout whole year.
Mr. Alongkorn stated that without additional budgets, it would be difficult for Thai exports to grow, but the ministry has promised to sustain this year's projected export growth of zero-three percent as best as it could. He expressed his belief that the country’s staggering exports would turn around in the second half of 2009. He said the performance of Thai exports as of 2009 would be assessable after the first quarter of this year.
In a separate development, Mr. Alongkorn said he has paid his visits to the Middle East, and chaired the opening ceremony of a trade operation center for Middle East and North Africa at the Thai Office of Trade Promotion in Dubai, the United Arab Emirates. He said the center was aimed at facilitating Thai entrepreneurs in terms of trade cooperation and giving them chances to run their business in the Middle East and North Africa.
National News Bureau of Thailand
06 March 2009
Thai Baht trades at 36.24-36.26 against the US dollar today
Thai Baht trades at 36.24-36.26 against the US dollar today
The Thai local currency traded at in the range of 36.24-36.26 baht against the US dollar after the market opened this morning (March 6th), weaker than yesterday’s trading at 36.14-36.16 to the US dollar. The currency later today reportedly traded at 36.17-36.19 against the US dollar this morning.
As for other major foreign currencies, the Japanese yen closed at in the range of 98.40-98.43 against the US dollar while the Euro traded at in the range of 1.2549-1.2553 against the US dollar after the market opened this morning as well.
The Thai baht was expected to move in a narrow range after depreciating, compared to the US dollar currency. No new factors from domestic and overseas markets emerged to support the trading of the baht. The currency was expected to move between 36.10-36.30 against the US dollar today.
National News Bureau of Thailand
06 March 2009