THE outlook of Koh Samui this high season is bright with a large number of European tourists escaping the winter there to enjoy the sunshine here and amid this is the noteworthy return of Russian holidaymakers, Naewna newspaper said this evening (Oct. 30). Mr. Ratchaporn Poolsawat, president of Koh Samui Tourism Promotion Association, said …
Phuket business groups urge Prayut to quickly repair Patong highway
THIRTEEN Phuket business associations have jointly sent a letter to Prime Minister Prayut Chan-o-cha urging him to order the quick repair of Highway 4029 that was damaged by floods triggered by tropical storm Nesat earlier this month as it links Patong beach to Phuket Town and the airport with both Thai and foreign tourists …
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Prayut moves to block booze bill
PRIME Minister Prayut Chan-o-cha held a meeting with leaders of all coalition parties on the Progressive Liquor Bill proposed by Move Forward Party with the conclusion being that the government should block its approval by the Lower House, Matichon newspaper said today (Oct. 25). In June this year the Lower House had approved this bill, …
Thai consumer group to file petition against True, DTAC merger
By Reuters and published by CNA A THAI consumer group today (Oct. 21) said it plans to ask a court to suspend the 326 billion baht ($8.6 billion) merger of the country's second- and third-largest mobile operators over competition concerns. The move by Thailand Consumers Council comes a day after the regulator cleared the …
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Thai telco regulator gives conditional clearance to True, DTAC merger
By Reuters and published by CNA THAILAND'S telecommunications regulator cleared the merger of the country’s second and third largest mobile operators, True Corporation Pcl and Telenor ASA’s Total Access Communication Pcl (DTAC) with conditions. The conditions include a price ceiling and price controls, the National Broadcasting and Telecommunication Commission (NBTC) said in a statement today …
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Posh ice cream, craft beer in vogue as Chinese downsize their love of luxury
By Reuters and published by US News & World Report Shanghai - Chinese consumers are typically known for lavish spending on high-end handbags, clothes and accessories that sustain Western luxury brands. This year, however, economic ill winds have sapped much of their urge to splurge and it's the littler luxuries in life - artisanal …
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Misprinted 20 baht polymer banknotes in circulation
THE BANK of Thailand said today (Sept. 29) that an error was found in a batch of 20 baht banknotes with the Thai numeral not matching the Arabic one but the public could still use them as normal until they are fully removed from the system, Sanook.com said this evening (Sept. 29). Ms. Wachira Aromdee, …
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Thai central bank raises rates, willing to adjust tightening as necessary
By Reuters and published by US News & World Report THE Thai central bank raised its key interest rate modestly for a second straight meeting today (Sept. 28) to tame 14-year high inflation and said it was willing to adjust the size and timing of rate moves as necessary. The Bank of Thailand's (BOT) monetary …
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Cabinet approves additional budget for 6 movies shot in Thailand
THE CABINET today (Sept. 20) approved an additional 212 million baht from this year's budget reserved for emergencies and necessary expenses to cover a shortfall in the promotion of the shooting of six foreign movies in Thailand with these scheduled to be released this year, INN News said. Ms. Traisulee Traisornkul, deputy spokesperson for …
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Wall St tumbles to biggest loss in two years following CPI data
By Reuters and published by US News & World Report New York - A broad sell-off sent US stocks reeling yesterday (Sept. 14) after a hotter-than-expected inflation report dashed hopes that the Federal Reserve could relent and scale back its policy tightening in the coming months. All three major US stock indexes veered sharply lower, …
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Flood-hit Koh Chang focusing on reviving tourism at yearend
HIT by heavy rain, floods and landslides the tourist island Koh Chang is now focusing on reviving tourism at yearend by launching sports and entertainment activities as a draw-card, Naewna newspaper said today (Sept. 13). Mr. Saksit Mungkarn, an executive of Siam Royal View Hotel, Koh Chang and chairman of the Tourism Council of …
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Indian financier Rakesh Saxena’s 335 years imprisonment upheld
THE Supreme Court today (Sept. 12) upheld a sentence of a 335 years imprisonment and 33.5 million baht fine plus refund of 2.5 billion baht against Indian financier Rakesh Saxena for massive embezzlement that led to the collapse of Bangkok Bank of Commerce (BBC) in the mid-1990s, TV Channel 7 and Matichon newspaper said. …
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Thailand heading for a bustling high season
THE TOURISM Authority of Thailand (TAT) expects a busy high season this year with both Thais and foreigners travelling extensively after Covid control measures were relaxed from April onwards with the country fully opened to tourism in July, INN News said this evening (Sept. 3). Mr. Yuthasak Supasorn, TAT's governor, said a large number …
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Daily minimum wage to rise by 5% from Oct. 1 – official
By Reuters and published by Investing.com plus INN News THAILAND will raise the daily minimum wage by an average of 5.02% from October 1, a Labour Ministry official said today (August 26), as it seeks to help workers cope with the impact of the Covid-19 pandemic. A government wage committee agreed the raise to between …
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Koh Samui residents urge govt to speed up construction of bridge
AS a memorandum of understanding (MoU) has now been signed to construct a bridge linking Koh Samui to Nakhon Si Thammarat's Khanom district, local residents are urging that this be quickly built to boost tourism, Naewna newspaper said today (August 24). Transport Minister Saksayam Chidchob earlier signed the MoU on integration of the road …
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Govt readies 150 billion baht loan guarantee for oil fund
By Reuters and published by CNA THE cabinet today (August 16) approved a law to guarantee up to 150 billion baht in loans for the state oil fund to support energy prices as the government fights inflation, according to a government source and local media reports. The measure still has to be examined by …
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Thai cryptocurrency exchange Zipmex suspends withdrawals
THAI cryptocurrency exchange Zipmex paused withdrawals of Thai baht and cryptocurrencies this evening (July 20) citing market volatility and financial problems caused by major business partners, Naewna newspaper said. The company tweeted this message at 5. 15 p.m.: "Due to a combination of circumstances beyond our control including volatile market conditions, and the resulting …
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Thai company acquires major European recycling company
SCG Packaging Plc (SCGP) has acquired 100% stake in Peute Recycling B.V. (Peute), the largest independent paper and plastic processor in the Netherlands, with this purchase now successfully completed, Matichon newspaper said today (July 18). SCGP paid 78.19 million euros or approximately 2.875 billion baht for the acquisition of this Dutch company through its wholly …
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Cash-strapped small hotels in Phuket appeal for help
SMALL hotels in Phuket are facing dire financial problems with several having been seized by financial institutions that have put them up for sale while 200 others are in the process of being seized by the Legal Execution Department, Thansettakij newspaper said today (July 13). Around 50 small hotel owners held a protest at …
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Thaksin advises public to hold cash amid global volatility
FORMER prime minister Thaksin Shinawatra said via an online channel named Care Clubhouse on Tuesday (June 21) that it is advisable to hold onto cash and delay investment in high-risk assets such as stocks and cryptocurrencies amid the current global volatility, Sanook.com said. He pointed to the war between Russia and Ukraine as causing …
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Tax waived for foreign actors filming in Thailand
IN AN effort to attract international filmmakers the Cabinet today (June 21) approved tax exemption for foreign actors shooting on location here for five years, Thansettakij newspaper said. Ms. Ratchada Thanadirek, a deputy spokesperson at the Prime Minister's Office, said this measure was approved by the Cabinet to attract investment in filmmaking in Thailand, …
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Crypto weekend meltdown: Bitcoin price touches $17k, Ethereum below $900
By Anna Golubova, Kitco News THE crypto space faced another sharp selloff during the weekend as Bitcoin plunged below $18,000 and Ethereum dropped below $900. The overall crypto market cap plummeted to $847 billion, down nearly 10% on the day. Bitcoin touched $17,677, the lowest level since November 2020, and Ethereum fell to a low …
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