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Wall St rally for 4th-straight weekDowSP 500 at new highs
U.S. stocks closed out the week on strong gains, with the Dow and S&P 500 reaching new highs and all three major averages gaining for fourth-straight week on encouraging economic reports. Dow Jones Industrial Average added 121.18 points, or 0.80 per cent, to close at 15,354.40. S&P 500 rose 17 points, or 1.03 per cent to 1,667.47. All key S&P sectors finished in positive ...
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TAA chief funds new ventures
Tassapon Bijleveld, the chief executive of Thai AirAsia (TAA), yesterday disposed of some of his stake in Asia Aviation Plc (AAV) to raise 1.5 billion baht for new ventures including hotels and another ...
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All 3G operators agree to cut their tariffs
Mobile operators have bowed to pressure by the National Broadcasting and Telecommunications Commission (NBTC) to lower all their 2G and 3G tariffs by 15% as per regulatory requirements. Secretary-general Takorn Tantasit said the three 3G mobile operators - Advanced Info Service (AIS), Total Access Communication (DTAC) and True Move - yesterday pledged to the NBTC that they will cut their 3G ...
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BoI keeps current incentives to 2014
The Board of Investment (BoI) has agreed to enforce a new investment regime by the beginning of 2015, giving more than 19 months for investors to adjust their investment plans to comply with the upcoming industrial-preference criteria. The BoI board meeting yesterday chaired by Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong agreed investment applications submitted from now to ...
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Kittiratt pushes investment to offset slumping exports
Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong has instructed state agencies to accelerate investment as a main tool to drive the economy, given the slowdown in exports this year. The government will also monitor whether projects are able to disburse funds on schedule. The plan to use annual investment of 400 billion baht to boost the economy is still on track, said Mr ...
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K-Asset keen to answer big demand
Kasikorn Asset Management (K-Asset), Thailand's largest asset management company, estimates demand in excess of 100 billion baht for investments with periods of longer than one week and higher returns than money market funds. To meet this demand, K-Asset introduced the K-MPLUS fund yesterday, with an initial public offering period slated for May 27 to June 3.K-MPLUS is designed to invest ...
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FTI nervous about volatility
Business leaders are calling on authorities to keep closely monitoring the baht, saying the currency could resume appreciation amid continuing capital inflows and massive liquidity globally. Although the baht has weakened recently, the Federation of Thai Industries (FTI) yesterday said the biggest concern remains volatility and keeping the baht relatively stable to its peers in the region. ...
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Amata gears up for rush of land sales
Amata Corporation, the developer and manager of industrial estates, said hundreds of land sales are expected to be sealed in the second half of this year, mostly in the car industry. Viboon Kromadit, a director and senior vice-president, said each deal will require hundreds of rai of land, with the largest deal at 400 rai. Amata has set a sales target of 3,000 rai this year. If the deals are ...
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PTT seeks partnership for biodiesel
PTT Plc, the energy conglomerate, is seeking local partners for joint investment in a 15-billion-baht biohydrogenated diesel (BHD) plant in Map Ta Phut, Rayong with a capacity of 370,000 tonnes a year. Executive vice-president Nattachart Charuchinda said PTT wants a new partner in the palm oil business in order to secure feedstock. Potential partners could be palm oil cooperatives in the ...
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Toshiba opens B2bn air-conditioner plant
Thailand will become the global export production base for Toshiba air conditioners in the next three years, affirming its importance despite the impact from the 2011 flood ...
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True looks into starting infrastructure fund
True Corporation is keen on setting up an infrastructure fund, says Vorapol Socatiyanurak, secretary-general of the Securities and Exchange Commission. "True's financial team asked for advice on establishing an infrastructure fund," he said yesterday. Thailand only has one infrastructure fund, the BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF), backed by revenue from ...
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Rising baht could trigger crisis Thaksin
Former prime minister Thaksin Shinawatra warned yesterday that a lack of cooperation between the central bank and the Finance Ministry in reining in the strengthening baht could lead to a new financial crisis for Thailand. Thaksin said the current economic indexes were worrying. "I like looking at different indexes and often get alarmed," he said. "During the crisis, only the ...
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NACC asks who will be responsible
Watchdog warns scheme may be open to widespread corruption The National Anti-Corruption Commission (NACC) yesterday urged the Cabinet to identify who in the government would be held responsible if damages arise from the government's Bt350-billion water-management and flood-prevention modules. The government's Water and Flood Management Commission (WFMC) has been pushing hard for the ...
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New services get mixed reactions
In the last two weeks since the three key mobile phone operators - Advanced Info Service (AIS), True Corp and Total Access Communication (DTAC) - launched their 3G and 4G services for 2.1GHz, there have been mixed reactions from consumers getting to grips with their new packages. We checked out some comments on Facebook to see what consumers thought of the changes so far. Warat Karuchit, an ...
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Thailand Cambodia agree to strengthen bilateral ties
Thailand and Cambodia yesterday agreed to strengthen cooperation and solve any border conflicts with mutual trust. Defence Minister ACM Sukampol Suwannathat met his Cambodian counterpart General Tea Banh at a General Border Committee (GBC) meeting at a golf resort in Rayong province. After the meeting, Sukampol told the press that both countries had agreed to boost cooperation in suppressing ...
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GPO agrees to fire managing director for negligence
Dr Pipat Yingseri, chairman of the board, said it had met to discuss irregularities in the purchasing and procurement of raw materials to make paracetamol, and delays in the construction of an influenza-vaccine plant and an HIV/Aids drug plant. All 14 board members agreed that Witit should be fired immediately as he had failed to prevent the irregularities in buying the ingredients to produce ...
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Groups protest against medical co-payment scheme
Health advocates and patients' networks launched a protest yesterday against the National Health Security Office's move to introduce a co-payment system for the universal healthcare scheme. The NHSO executive board met yesterday to discuss a proposal by the National Economic and Social Development Board (NESDB) to introduce the co-payment scheme, under which subscribers would have to ...
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Lao PM to visit Thailand
Prime Minister of Laos Thongsing Thammavong will lead a high-level delegation to attend a joint Lao-Thai cabinet meeting and the 2nd Asia Pacific Water Summit in Chiang Mai, Thailand, on May 19-20. His visit is in response to an invitation from Thai Prime Minister Yingluck Shinawatra. According to a Thai media report, the two sides will discuss a number of cooperation projects including the ...
Feature on Bangkok
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Bangkok’s reputation under threat
Bangkok has long-been the site of political instability for the country, but this has rarely escalated into full-scale violence, now as talks between government and protests breakdown, and acts of violence increase, the city faces a difficult situation.
There is currently a days-long standoff between the government and anti-government protestors who claim the present government headed by Prime Minister Abhisit Vejajjiva was supported by the military when they came to power fifteen months ago. Read more
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