1. PM said Government plans to host Formula E, a world-renowned electric-car racing championship series, in Chiangmai no later than Feb 15 next year.
  2. Hire-Purchase lenders is expected to face headwind from EV price war which depresses price of collateral, used car mkt and repossessed vehicles. KKP focus on high income earners, TISCO lifts down payment to 30% to reduce impact from loss on reposed vehicles, CIMB (TH) sees rejection rate exceeds 50%.
  3. TAT expects 15% rise in Russian tourists this year to 1.7m, from 1.4m last year, which surpassed the pre-pandemic level.
  4. Energy Policy & Planning Office (EPPO) anticipates FY24 peak power consumption topped 34,827mw record high set in May 6,2023, expects electricity demand during nighttime higher than day as 85% of EVs charge at night, demand from hotels & service sector surge on improved econ activities, growing usage of solar power ease pressure on power producers during the day.
  5. The House begins its 3-day session to consider approving a long-delayed budget bill for the current fiscal year ending September.
  6. Digital wallet paper to be assessed by panel: Office willing to call for panel’s formation. The State Audit Commission appears to be preparing to establish a subcommittee to audit and provide recommendations to the government on the controversial digital wallet project. According to Monthien Charoenpol, acting auditor-general of the commission, the State Audit Office (SAO) is responsible for auditing the government’s budget expenditure to ensure compliance with regulations concerning financial and fiscal discipline. Expenditure carried out under the government’s digital wallet policy is governed by these regulations.
  7. State revenue collection falls short of target: Government revenue collection has missed the target, signalling an economic slowdown, largely attributed to diminished purchasing power caused by high interest rates, says permanent finance secretary Lavaron Sangsnit. Higher interest rates have affected people’s purchasing ability, particularly those looking to buy cars or homes, Mr Lavaron said. While demand exists, people’s ability to make monthly loan repayments diminished because of elevated interest rates, he said.
  8. Trio vie for virtual bank licences: Key consortiums prepare applications. Three consortiums are expected to apply for virtual bank licences, as the application period for submissions to the Bank of Thailand started yesterday, running to Sept 19.
  9. The state power authority insists supply will be sufficient as it plans to import more liquefied natural gas.: The state-run Electricity Generating Authority of Thailand (Egat) insists power supply in Thailand will be sufficient as it plans to import more liquefied natural gas (LNG) to support power generation in the country, says Thepparat Theppitak, the newly appointed governor of Egat. More LNG imports by Egat and national oil and gas conglomerate PTT Plc may be necessary if demand for electricity soars during the hot season.
  10. Minister endorses legalising casinos: Up to 50,000 jobs could be created. The labour minister supports the legalisation of casinos in Thailand, aiming to stimulate the economy and create at least 50,000 jobs across five regions.

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