ECONOMY
The government pledged yesterday to raise consumers' purchasing power, boost export growth, ease liquidity constraints for small- to medium-sized enterprises (SME) and tourism operators and ensure foreign exchange stability for economic growth in the second half.
PETROLEUM
Bangchak Petroleum Plc (BCP), the majority state-owned oil refiner, is to invest 10 billion baht to develop a fully integrated alternative fuels complex in order to diversify risk from the oil refining business.
The Bank of Thailand raised short-term interest rates by a quarter of a percentage point yesterday in the face of continued high inflationary pressure.
BANKING
PHNOM PENH : State-owned Krung Thai Bank is looking to expand its presence in Cambodia by opening a new branch in the port town of Sihanoukville. Sihanoukville, about 230 kilometres southwest of Phnom Penh, is considered a strategic location for the new branch of KTB as it is the centre of logistics, trade and investment, as well as tourism, said Pisit Buranakitpinyo, general manager and vice-president of KTB's Phnom Penh branch.
The current political unrest is expected to be short-lived, according to the Thai Bankers' Association. Political risk increased sharply this week as police forces clashed yesterday with protesters under the People's Alliance for Democracy.
PROPERTY INVESTMENT
In this age of globalisation, the divide between East and West seems to have become blurred. But things are still done differently in the two halves of the world, and this certainly applies to property development. In the UK, for instance, some concepts unfamiliar to Thailand's market could be very welcome.
TrainTheTRAINER
Recently, I spent two days at the Personnel Management Association of Thailand (PMAT) human resources forum. Before I get into my subject, I want to congratulate all the people from the PMAT who work hard and make its events so successful and well-attended. I've been attending PMAT events for seven years, and I am always impressed by how well they are run and how much effort the people of PMAT put into making sure that participants and vendors have a positive experience. Well done.
Central Plaza Hotel Plc has launched a 3.2-billion-baht property fund to raise capital for business expansion.
CREATIVITY Un-Ltd
Two weeks ago, we started to discuss the first three of five exploration tools you can use to check the reality of something: standard reality checks, belief checks and assumption tests. Today, let's complete our discussion on reality checks by looking at two other techniques that I call "Break rules for fools" and "The sacred cow slaughterhouse".
AUTOMOBILES
Mitsubishi plans to export 20,000 sport utility vehicles (SUVs) built in Thailand to 80 countries in the first year of overseas sales for the new model.
COMMODITIES
Industry Minister Mingkwan Sangsuwan has proposed using commercial counsellors in Thai embassies to expand sugar exports by helping producers penetrate new markets.
Thailand should recreate its image among Chinese tourists in order to secure this market in the long run, say experts in the Chinese tour market.
INBrief
PROPERTY :Jones Lang LaSalle (JLL) has won new management contracts for two luxury resort condominium and villa developments in Phuket - the Crystal Lane Condominium on Bangtao Beach and the Kamala Beach Estate on Kamala beach.
RETAILING
Traditional mom-and-pop shops should adjust by following in the footsteps of convenience stores in attracting consumers in order to survive in the highly competitive retail market, according to retail experts.
Despite the threat from fuel prices and inflation, retailers still see opportunities for expansion, with planned investments estimated at 90 billion baht by 2011 for new spaces totalling one million square metres, according to the property consultant Colliers International Thailand.
AGRIBUSINESS
River Kwai International Food Industry, the country's leading sweet corn and vegetable exporter, is looking for a new partner to grow sweet corn in the North.
CONSTRUCTION
Ascon Construction Plc, a SET-listed construction company, is close to winning its first overseas project by clinching a 16-billion-baht deal to build 12-storey residential towers in Dubai.
WIRELESS BROADBAND
DTAC, the country's second-largest mobile operator, is forging ahead with its third-generation (3G) mobile broadband efforts by introducing real-time photo-sharing from mobile phones to websites.
BROADCASTING
BEC World Plc, the operator of Channel 3, has postponed a plan to increase its airtime rates to early next year due mainly to growing political and economic problems, according to Chatchai Thiamtong, vice-president for finance.
INBrief
COMMODITIES :The benchmark export price of white rice declined 2.2% yesterday to a five-month low, according to the Thai Rice Exporters Association.
