Ruling PPRP aims to win 150 House seats: The ruling Palang Pracharath Party (PPRP) aims to win at least 150 House seats in the next general election, according to party secretary-general Santi Promphat. Bangkok Post
Ministry closes 2 Covid-hit insurers: Two companies had their business licences revoked after they ran out of money to pay claims. The Finance Ministry has revoked the business licences of Southeast Insurance and Thai Insurance, effective yesterday, after the two companies were declared financially incapable of paying outstanding claims, according to the Office of the Insurance Commission (OIC). Bangkok Post
Land and building tax discount in effect for 2022: The land and building tax is still offering a payment discount this year according to the law passed to ease the burden on landowners, says Finance Minister Arkhom Termpittayapaisith. He said this is the last year the land and building tax law offers such a discount to landowners. The law took effect in 2020 and offers a tax payment discount for the first three years of enforcement. In 2020, the government also launched the 90% land and building tax cut to ease the burden on owners of land and building sites because of the severe impact of the pandemic. Bangkok Post
Heavy metal showdown: Thai food processors want an extension of tariff waivers on tin plate and tinfree steel as prices have ballooned the past two years. Renewed anti-dumping duties affect canned food prices. Thai food processors and the Thai Chamber of Commerce have called for an extension of antidumping (AD) duty waivers on tin plate and tin-free steel, used widely in canned food, for at least six months to help offset the impact of rising steel prices and their production costs. Bangkok Post
Fetco upbeat on second half: The Federation of Thai Capital Market Organizations (Fetco) said the economy will recover in the second half, expecting the Russia-Ukraine conflict to be resolved and oil prices to decline. Fetco maintained its forecast for the SET Index at 1,800 points. Foreign funds of around 112 billion baht reportedly entered the bourse during the first three months, the highest in 15 years. Bangkok Post
Car bookings at the 43rd BKK International Motor Show, which ended on Sunday, rose by 13.6% to 33,936 units, with EVs attracting interest from motorists following the government’s EV incentive package with 3,100 bookings.
Bio-plastic industry gets tax incentive: The cabinet has approved an extension of a 25% corporate tax exemption for bio-plastic industry companies in order to promote Thailand as an Asean bio-hub. Bangkok Post
Growth outlook darkens: World Bank slashes its Thai GDP forecast. Thailand’s economy is expected to grow by 2.9% this year, down from a previous prediction of 3.9%, the World Bank said last Tuesday. Bangkok Post
Ministry raises projection for headline inflation to 4-5%: A sharp rise in the prices of goods and services following higher costs for production, energy, imported materials and logistics has prompted the Commerce Ministry to raise its forecast for headline inflation to 4-5% this year from a previous estimate of 0.7-2.4%. Bangkok Post
Foreign arrivals rise to 11,000 per day after test rule eased: Over 11,000 foreign visitors per day have arrived in Thailand through Suvarnabhumi airport after authorities stopped requiring travellers to present a pretravel RT-PCR test result last week, according to Airports of Thailand (AoT). Bangkok Post
