Thai Airways made an abrupt about-face last night and scrapped a decision made earlier yesterday to suspend president Apinan Sumanaseni. Protests by the THAI union and pilots forced THAI chairman Chaisawasd Kittipornpaiboon to announce late yesterday that no management change would be made at the national carrier.
INFRASTRUCTURE
US-based General Electric (GE) is considering Thailand and other Southeast Asian countries for its planned $20 billion worth of investment to expand its global energy portfolio from 2008-10.
CAMBODIA-THAILAND RELATIONS
Thai businesses operating in Cambodia have expressed concern that bilateral relations could be shaken by conflict over the Preah Vihear temple.
ENERGY
The diesel price subsidy programme for motorists, set to expire in July, is likely to be extended as the Energy Ministry is trying to deal with the record price.
ECO Cafe'
Last week I had to leave the office early because the anti-government street protest was marching toward Government House. It wasn't the first time that politics had affected me. In fact, I've been affected for the past several weeks due to traffic congestion, not to mention being mentally drawn down by recent political conflict.
Several major Thai property developers are gearing up to issue up to 15 billion baht worth of Sukuk bonds this year, according to Dheerasak Suwannayos, an adviser to Krung Thai Asset Management.
STOCK MARKET
Thai stocks are expected to remain volatile for the next several months, with political uncertainties peaking in September, according to Pakhawat Kovithvathanaphong, the chairman of Trinity Securities.
Interest rates are definitely on the upswing, according to Pakorn Malakul Na Ayudhya, the chairman of the Stock Exchange of Thailand.
BY INVITATION
All of a sudden, the world's central bankers are talking about inflation expectations. European Central Bank president Jean-Claude Trichet started the process by saying that he was "strongly determined" to anchor inflation expectations. US Federal Reserve chairman Ben Bernanke recently said that his central bank would "strongly resist" any erosion in price expectations. This led markets to contemplate the possibility of increasing interest rates.
A.T. Biopower Ltd, a small power producer (SPP), is upbeat after announcing it is the first company in Thailand to earn extra income from selling carbon credits. Chief executive officer Natee Sithiprasasana said the company had received Certified Emission Reduction (CER) documents from the United Nations Framework Convention on Climate Change or UNFCCC, which certified that it had cut 100,678 tonnes of carbon dioxide emissions in 19 months from its low-emission power plant.
PROPERTY
Number One Housing Development Co, a developer well-known in eastern Bangkok, plans two new residential projects worth 1.1 billion baht located adjacent to its flagship Blue Lagoon project in Bang Na. Its 700-million-baht three-storey townhome project and a 400-million-baht single-house project are planned for launch this year to serve buyers in Bang Na.
TOURISM
The Tourism Authority of Thailand (TAT) is looking to woo more South Korean visitors as part of its effort to attract short-haul travellers who might be less affected by high oil prices. An ambitious plan was set this year to boost tourism revenue from Korea, which is considered a quality market with high-spending tourists, said Sansern Ngaorungsi, the TAT director of East Asia.
Thai Vegetable Oil Plc (TVO), a soybean oil producer, projects its revenue will increase by 30% to 23.99 billion baht this year by focusing on cost management and utilising production capacity. Sethasan Sethakarun, the company's executive director, said it had already proved that effective cost management and capacity utilisation were the right direction to grow revenues.
ENTERTAINMENT
Blu Fairy Co, a visual effects and animation subsidiary of RS Plc, plans to launch its first 2D animation series PongLang La-On aimed at children and family audiences. It expects to generate 30 million baht from the series this year. The cartoon series would feature the adventures of three children, Eed, Lala and Lulu pursuing the legendary magical kaen (the northeastern musical instrument).
RETAILING
Central Watson Co, the health and beauty retail chain, has launched its biggest promotional campaign in 12-years to revamp its image in Thailand. Toby Anderson, the company's general manager, said the company had launched the 100-million-baht campaign ''What's In Your Watsons.''
IN Brief
HEALTH CARE : Bangkok Dusit Medical Service (BGH) is looking for expansion opportunities in Saudi Arabia, according to director Chatree Duangnet.
ELECTRICITY
Developers of three hydropower plants in Laos will be allowed to raise electricity rates charged on their sole buyer, the Electricity Generating Authority of Thailand (Egat), who agreed to help reduce their rising construction costs.
