Bangkok’s long road to recovery: The city’s reopening presents a new governor with major opportunities and long-standing challenges. Before the pandemic, Bangkok was undoubtedly a top global tourist destination, with an inexpensive cost of living and plenty of accommodation on offer. The capital welcomed 66.9 million visitors in 2019, including 24.8 million foreigners, drawing in 1 trillion baht from them that year. Bangkok Post
FTI urges rule rejig for energy trade: The Federation of Thai Industries (FTI) is calling on the government to amend laws to allow factories easier access to electricity made from renewable energy to help Thailand reduce carbon dioxide emissions. Bangkok Post
GPO moves to defuse jab saga: The Government Pharmaceutical Organisation (GPO) yesterday offered an explanation as to why the Moderna Covid-19 vaccine injection service provided by a state agency costs far less than vaccines which the GPO imported for private parties. Bangkok Post
Cabinet approves B92 bn more support measures: The cabinet on Tuesday approved a further 92 billion baht in relief measures, along with a scheme to offer work permits to foreigners who invest $1 million, as the country deals with the biggest and most prolonged coronavirus outbreak. The economy is expected to grow just 0.7% this year after a 6.1% contraction last year, the central bank forecast, with the key tourism sector still stumbling. The government earlier this year approved a further 500 billion baht borrowing plan to mitigate the impact of the epidemic. Bangkok Post
Cabinet approved Bt92b to fund 5 programs, including Bt37.5b for SMEs, Bt8.1b welfare card program, and Bt42b co-payment program. It is also approved in principle a program aiming to attract Bt300b worth of foreign investment in exchange for granting long-stay visas.
Bitcoin surges on back of crypto ETF: Fund started trading on NYSE on Tuesday. The price of Bitcoin rose to more than US$64,000 on Tuesday after the US Securities and Exchange Commission greenlit the establishment of a Bitcoin futures-based exchange-traded fund (ETF) on the New York Stock Exchange (NYSE), and traders bet it could drive more institutional investments into cryptocurrencies. Bangkok Post
B29bn budget to cap diesel: The Energy Policy Administration Committee has approved a budget worth around 29 billion baht to put a cap on the diesel price at below 30 baht per litre in line with an order from Prime Minister Prayut Chan-o-cha. Bangkok Post
Telenor Group, the major shareholder of DTAC, has expressed its commitment to long term investment in Thailand and contributing to people throughout society.
Energy Policy Admin Committee has approved a Bt29b budget to put a cap on the diesel price at below Bt30/litre in line with an order from PM.
Binding bid for Citigroup’s retail assets in Indonesia, Philippines, Taiwan & Thailand are due Friday, DBS, Std Chart among top candidates, BBL, BAY (owned by Mitsubishi UFJ) also weighting the bid for TH assets.