Dwindling taxes on diesel fuel, clocking at 15 billion baht, does little to offset the spectacularly steel-like surpluses expected to be churned out of various governmental moieties. This excess ranges from an impressive 60 to 70 billion baht. The financial engine of our robust economy isn’t willing to slow down. The fiscal fortification is buoyed by economic growth, which has seen a surge due to elements such as the auspicious return of foreign tourists and the healthy vitality of domestic consumption. These driving forces have enabled revenue streams to surge beyond prior projections. A specific manoeuvre aimed at cementing this fiscal progress is the strategic reduction of the excise tax on diesel fuel by a significant 2.50 baht per litre. This decision, effective from September 20th and spanning until the year-end, will inevitably generate a loss of 15 billion baht. However, the Finance Ministry has astutely operationalised this loss over…
THAI.NEWS - Thailand Breaking News
Thailand’s Ministry of Public Health is taking a progressive leap forward with the announcement of plans to strengthen universal healthcare. Primarily geared towards improving accessibility and services to the underprivileged urban population, the idea was presented at Udon Thani’s academic conference. Addressing the need for such upgrades, Dr. Opas Kankawinpong, the ministry’s permanent secretary, emphasized that although the universal healthcare scheme has functioned smoothly for over 21 years, there is a pressing necessity for augmentation to cater to evolving lifestyles. In the historical context, the ministry’s vulnerable or fragile groups mainly comprised individuals residing in remote areas due to their limited access to basic healthcare. Today’s economic contexts have extended this category to include less fortunate individuals dwelling in bustling urban landscapes such as Bangkok, Pattaya, Chiang Mai, and Nakhon Ratchasima. The struggles faced by this group in procuring medical treatments under the existing health infrastructure is a fundamental issue…
In a recent revelation, three health enhancing products have been flagged by the US Food and Drug Administration (FDA). Their licences have been rescinded already, yet these products continue making exaggerated promises on varying e-marketplaces. The brash claims range from controlling blood sugar levels to weight loss and even suppressing hunger. All this, while their licenses stand withdrawn. The FDA unveiled findings from their ongoing vigil on health supplement advertisements across various digital marketplaces. At the crux of their investigation emerged three main culprits: Firstly, Mix Oil Oriji, manufactured under the Veeric brand, showcased as a food supplement product with an expired food registration number. As documented by KhaoSod, this product boasts of controlling sugar and cholesterol levels, battling free radicals, mitigating ageing symptoms, and nourishing different parts of the body. In addition, the product briefly toys with the idea of helping develop healthier sleep patterns. The next under indictment…
Get ready to traverse a fascinating journey into the realm of sustainability in the cultural heartbeat of Bangkok city, at Khlong Toei District: SX 2023. Brace yourself for a thrilling exploration into the not-too-distant future world where sustainability is at its helm, with the resplendent Sustainability Expo 2023 (SX 2023). The grand event is scheduled to take place at the illustrious Queen Sirikit National Convention Center (QSNCC) from the 29th of September to the 8th of October. The eloquent director of SX 2023, Tongjai Thanachanan, presented a comprehensive outline of the event’s fourth annual succession to the media. He introduced the philosophic underpinnings of the gathering: translation being ‘Good Balance with a Better World’. The Expo’s objective is to illuminate emerging sustainability trends and cutting-edge practices. It is an homage to His Majesty King Maha Vajiralongkorn Phra Vajiraklaochaoyuhua for his relentless devotion to royal initiatives targeted at uplifting the social…
Ever imagined sailing across Bangkok on the MRT Purple Line or the State Railway of Thailand (SRT) Red Line without having to worry about an ever-fluctuating ticket price? As Thailand ushers in the New Year, that wish may just come true. Transport Minister Suriya Jungrungreangkit teases a thrilling “New Year’s present”—a 20-baht flat fare, slated for trial in the next upcoming three months. The plan was unveiled in parliament following queries around the viability of such a fixed 20-baht rate. Thanks to Surachate Praweenwongwut, a conscientious opposition MP from the Move Forward Party, the flat-fare consideration became a talking point during the government’s policy announcement’s second day. Firmly sticking to his guns, Minister Suriya highlighted the flat-rate system’s potential to pool and instigate fairness, primarily in favor of lower-income individuals and families striving to make ends meet. However, he maintains that the legislature currently lacks a solid direction regarding transport…
Thailand’s Tourism Authority (TAT), together with the Small and Medium Enterprise Development Bank of Thailand (SME D Bank) and the Electronic Transactions Development Agency (ETDA), are championing a brave new approach to tourism. Their strategy, based on innovative technologies, aims to drive sustainable business growth within the sector, under the banner of the “Tourism Entrepreneurship Potential Development on Travel Products and Services in the Digital Age Project”, henceforth referred to as “Enhancing Thailand Tourism 2023”. With the organisational expertise of ARIP Public Company, a leading name in ICT/Business media, this initiative marks a significant step forward. “Enhancing Thailand Tourism 2023” is devised as a catalyst, inspiring and aiding travel business owners to tap into the potential of technological advances and innovation. This objective aligns perfectly with their mission – to prepare businesses to face the digital era’s unforeseen changes and challenges head-on. By harnessing technology to refine their services, and…
Gearing up to host the largest Sustainability Expo in the Asean region, the city of Bangkok announces the fourth edition of Sustainability Expo 2023 (SX 2023). Taking place at the renowned Queen Sirikit National Convention Center (QSNCC) in the Khlong Toei district, the anticipated event is scheduled from September 29 to October 8. The driving force behind the Expo, SX director Tongjai Thanachanan, shared insights into this year’s theme during a recent media interaction. “Good Balance, Better World” is an ethos that’s set to guide the event, putting a strong emphasis on sustainability trends, trailblazing innovations, and the contributions made by His Majesty King Maha Vajiralongkorn Phra Vajiraklaochaoyuhua to the welfare of the people through royal projects. Dedicated to projecting the idea of “Sufficiency for Sustainability,” the event channels the essence of the sufficiency economy philosophy, a profound concept initiated by His Majesty King Bhumibol Adulyadej The Great (Rama IX).…
In the bustling Ministry of Labour premises in Tak, there’s quite the stir. It’s registration day for Myanmar workers awaiting their official permits, a doorway to working in Thailand. But underneath the regular procedure, ripples of change sweep through these hopeful migrants, hinged to a new directive from the home military government. Sapphire-blue skies over Myanmar conceal an economy bearing the weight of uncertainty. The military government recently decreed that the nation’s expatriate workers should contribute at least a quarter of their overseas currency income to the local banking system, reshaping the landscape of foreign remittance. As conveyed by esteemed Myanmar news outlet, The Irrawaddy, these foreign funds would undergo conversion to kyat, Myanmar’s official currency. The crux lies here – the conversion happens at the government’s official rate, which stands at an astounding 40% below the frequently-used market rate. Essentially, this strategy garners a lucrative pool of funds for…
With the OneCoin logo prominently displayed on the company’s office door in Sofia, Bulgaria back in 2016, many unsuspecting investors were drawn into a well-orchestrated scam that was about to blow up massively. Unfortunately, the picture behind this façade was far from rosy. Therefore, fraud encapsulated in shining golden logos and tall promises landed a fake cryptocurrency promoter straight into the throes of the law. The narrative revolves around dual-citizen of Sweden and the United Kingdom, Sebastian Greenwood, who was the chief architect of this grand scam. The illusion spun around OneCoin did not play out as planned when Greenwood was arrested in Thailand in 2018. This culminated in a twenty-year-long prison sentence for Greenwood, handed out by the US federal court, which found him guilty of large-scale fraud. In fact, it was no small feat. The orchestrated scheme had duped an enormous crowd of 3.5 million individuals out of…
On the 8th of September 2023, a grand gathering of financial leaders took place, the 36th ASEAN Exchanges CEOs Meeting, graciously hosted in the heart of Thailand by the Stock Exchange of Thailand (SET). Alongside SET, five other major market players graced the event — Bursa Malaysia, Indonesia Stock Exchange, Philippine Stock Exchange, Singapore Exchange Group, and Vietnam Exchange. One of the key objectives centering this summit was the development of a central set of sustainability metrics that complies with globally accepted standards and proven practices. During the vibrant session, the representatives from these six influential ASEAN exchanges exchanged ideas on initiatives aimed at boosting Environmental, Social, and Governance (ESG) collaboration across the region. The goal? To uplift the ASEAN stock markets and cultivate sustainable investments, fostering an environment that breeds long-term financial growth and prosperity. At the heart of the dialogue was the synergy within ASEAN Exchanges and the…