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☆ Thai banks' bad loans slow to 2.73% of lending at December-end -c.bank
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, Feb 20 (Reuters) - Thai banks' non-performing loans stood at 2.73% of total lending at the end of December 2022, down from 2.77% at the end of September, helped by debt restructuring, the central bank said on Monday. Bad loans are likely to increase but not sharply, while existing debt measures are sufficient to support vulnerable groups, assistant central bank governor Suwannee Jatsadasak told a news conference. The BOT will continue to monitor the debt servicing of households, which remained fragile, and the recovery of some business groups, the BOT said. Loans grew 2.1% in 2022, slowing from a 6.5% rise in the previous year, due in part to debt repayments by large businesses, the BOT said. Suwannee said lending was likely to grow in line with the economy but gave no specific forecast.

☆ Amid Tensions With U.S., China’s Top Diplomat Travels to a Wary Europe
▼ + stars: | 2023-02-15 | by ( Austin Ramzy | ) www.wsj.com time to read: 1 min

Top Chinese diplomat Wang Yi attended the Asia-Pacific Economic Cooperation leaders informal dialogue in Bangkok, last year. Wang Yi, China’s top diplomat, kicks off a weeklong visit to Europe and Russia with a difficult task: Repair fraying relations in the region at a time of heightened tension with the U.S., growing European wariness toward Beijing and concern over China’s partnership with Russia. Mr. Wang met on Wednesday with French President Emmanuel Macron at the Elysée Palace, followed by stops in Italy, Hungary and Russia.

☆ Captain of Thai 'cave boys' soccer team dies in Britain
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +2 min

[1/3] Duangpetch Promthep introduces himself during the news conference in Chiang Rai, Thailand July 18, 2018. REUTERS/Soe Zeya Tun/File PhotoBANGKOK, Feb 15 (Reuters) - One of 12 boys dramatically rescued after two weeks trapped in a flooded cave in Thailand in 2018 has died in Britain where he was attending a soccer academy, his former teacher said on Wednesday. Duangpetch Promthep, better known as "Dom", was captain of the "Wild Boars" team whose seemingly impossible extraction by international divers and Thai navy SEALs captured huge global attention. The news was shared on social media by a Buddhist monk who taught the boys in Thailand's northern Chiang Rai province. Once rescued, the boys were invited to attend a Manchester United match and their story was the subject of books, documentaries and films, and most recently, the Netflix (NFLX.O) series "Thai Cave Rescue".

☆ Shut out from their top destinations, Chinese travelers are turning to other places
▼ + stars: | 2023-02-14 | by ( Monica Pitrelli | ) www.cnbc.com time to read: +5 min

Chinese travelers favored Southeast Asia for trips during the Lunar New Year holidays, which ended in early February, according to Trip.com Group's Chinese language booking website, Ctrip. Overseas hotel bookings by mainland Chinese travelers quadrupled from last year too, Ctrip said. He said of the 30 million tourists Thailand is expecting this year, 12 million to 15 million may come from China. South Korea announced last week it would resume issuing short-term visas to Chinese travelers, according to Reuters. Visas aside, Chinese travelers are also worried about getting sick, said Lee.

☆ IBM is suing a former top executive, saying she needs to return $470,000 in bonuses after she took a job at a rival firm
▼ + stars: | 2023-02-14 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

IBM wants its former top exec in Thailand to return $470,000 in bonuses after taking a job at a rival. IBM said Patama Chantaruck violated an equity awards plan when she started working at Accenture. In a lawsuit filed in New York Monday, which Insider has reviewed, IBM said that Patama Chantaruck started working at IBM Thailand as the country's general manager in 2018. Chantaruck resigned from IBM Thailand, effective February 28, 2022, the suit says. Less than six weeks later, on April 11, she started working at Accenture in what IBM says is a role "highly similar" to what she did at IBM Thailand.

☆ South Korea fines German automakers for rigging diesel car emissions
▼ + stars: | 2023-02-09 | by ( Hyunsu Yim | ) www.reuters.com time to read: +1 min

[1/4] A Mercedes-Benz badge on one of the German company's cars at the 43rd Bangkok International Motor Show, Thailand, March 22, 2022. REUTERS/Athit Perawongmetha/File PhotoSEOUL, Feb 9 (Reuters) - South Korea's anti-trust regulator said on Thursday it would impose a combined fine of 42.3 billion won ($33.48 million) on three German automakers for colluding to rig emissions of its diesel cars using software. Mercedes-Benz was fined 20.7 billion won, BMW 15.7 billion won and Audi 6 billion won, the regulator said, adding that Volkswagen was not fined because it did not earn revenue relevant to the issue. Mercedes, BMW, Volkswagen and Audi were not immediately available for comment. Last year, Mercedes-Benz and its Korean unit were fined 20.2 billion won for false advertising tied to gas emissions of diesel passenger vehicles.

☆ What is your Plan B? Prepping for a money reset
▼ + stars: | 2023-02-07 | by ( Chris Taylor | ) www.reuters.com time to read: +4 min

With layoffs accelerating – especially in tech, with 140,000 last year and 58,000 so far this year, according to Crunchbase – your Plan B might not be just a theory anymore. To help you do that, there is the timely new book “The Great Money Reset” from Jill Schlesinger, CBS News business analyst and host of the “Jill On Money” radio show and podcast. In other words, the question is not whether a Great Money Reset is coming your way – it is when. “A Plan B doesn’t mean you have to chuck your whole career,” Schlesinger says. OVERHAUL YOUR SPENDINGThe amount you are spending, or not spending, is going to determine the number and quality of your Plan B options.

☆ 'I feel my eyes burn': Thailand says stay indoors as air pollution spikes
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

[1/4] A view of the city amid air pollution in Bangkok, Thailand, February 2, 2023. REUTERS/Athit PerawongmethaBANGKOK, Feb 2 (Reuters) - Air pollution in Bangkok and neighbouring Thai provinces spiked past safe levels on Thursday, prompting authorities to urge people to stay indoors and avoid strenuous outdoor activity. The country's pollution control department said "stagnant weather conditions" were exacerbating vehicle emissions and seasonal fires on agricultural lands. The level in Bangkok and the surrounding areas is currently 70.5 micrograms per cubic metre. Every year, exposure to outdoor air pollution is estimated to cause 4.2 million premature deaths, according to the WHO.

☆ 36 Hours in Bangkok
▼ + stars: | 2023-02-02 | by ( Finn-Olaf Jones | ) www.nytimes.com time to read: 1 min

11 a.m. Eat on the river’s west shoreCross the river on the public ferry (from 13 THB) to Icon Siam mall. The first floor has arguably the world’s best food court. Thais flock to the locally run stalls that have replaced so many of Bangkok’s much-missed street vendors. Many stalls don’t have names and just have one specialty, like spicy shrimp soup or pad thai, often made by that vendor’s family for generations. After lunch, visit the top floor balcony to discover a light-and-mirror art installation called “Infinity Forest,” and one of the best views over the river.

☆ Soccer Leicester chairman pays $239 mln debt to King Power in equity
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

Feb 1 (Reuters) - Leicester City chairman has paid the outstanding debt of the Premier League club to its parent King Power International (KPI) by converting more than 194 million pounds ($239.03 million) in loans into equity, it said on Wednesday. The club's chairman Aiyawatt Srivaddhanaprabha is also the chairman of Bangkok-based KPI, a travel retail group, which is fully owned by his family. The loans were provided over the last four years to fund the construction of the club's new training ground at Seagrave, Leicester said. "Maintaining long-term stability is vital for sustainable growth and a fundamental principle that has always guided our investments in the club's future," Srivaddhanaprabha said. Leicester are 14th in the Premier League standings on 18 points from 20 games.

☆ Protesters mark Myanmar coup anniversary, junta due to make statement
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +5 min

[1/3] Filipino activists stage a protest in solidarity with Myanmar citizens, two years since Myanmar's military coup, outside the Embassy of Myanmar in Makati City, Philippines, February 1, 2023. REUTERS/Eloisa LopezFeb 1 (Reuters) - Protesters marked the two-year anniversary of Myanmar's military coup with a "silent strike" in major cities and rallies overseas on Wednesday, as exiled civilian leaders vowed to end what they called the army's "illegal power grab". Myanmar's military took power after complaining of fraud in a November 2020 general election won by Suu Kyi's party. PROTESTS IN BANGKOKIn the main commercial cities of Yangon and Mandalay, images on social media showed deserted streets in what coup opponents said was a silent protest against the junta. State media recently announced tough requirements for parties to contest, a move that critics say could sideline the military's opponents and cement its grip on politics.

☆ China's EV giant BYD in talks to acquire insurer Yi'an
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] The BYD Atto 3 EV car is displayed at the 39 Thailand International Motor Expo, in Bangkok, Thailand, November 30, 2022. REUTERS/Athit Perawongmetha/FilesSHANGHAI, Jan 31 (Reuters) - Chinese electric vehicle (EV) giant BYD said on Tuesday it is working on a potential acquisition of Yi'an P&C Insurance Co, an insurer that was seized by Chinese regulators two years ago as part of a crackdown on financial conglomerates. Chinese business publication Caixin reported earlier this month, citing unnamed sources, that BYD would fully take over the insurer and would use it to start an insurance business targeting electric vehicles. Yi'an P&C Insurance was among nine firms Chinese regulators seized from the Tomorrow Holdings conglomerate in July 2020. China banking and insurance regulator said last year it had agreed to allow Yi'an P&C Insurance to enter bankruptcy and reorganisation procedures.

☆ Activists urge Thailand's opposition to scrap royal insult law if elected
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +2 min

Thailand has some of the world's strictest lese majeste laws, with punishments of up to 15 years in prison for each perceived royal insult. Eight activists met on Tuesday with the Pheu Thai party and said scrapping Article 112 must be a priority. "If the Pheu Thai Party want to win by a landslide, they need to revoke 112," activist Somyot Prueksakasemsuk said ahead of the meeting. No political party has ever called for it to be revoked, though several support debate on its enforcement or reducing punishments. After the meeting, Natiporn Sanesangkhom, one of the activists, said Pheu Thai gave no firm answer on abolishing article 112.

☆ Two years on, Myanmar coup takes a 'catastrophic toll'
▼ + stars: | 2023-01-31 | by ( Reuters Staff | ) www.reuters.com time to read: +7 min

REUTERS/StaffJan 31 (Reuters) - Two years after Myanmar's military coup, a young factory worker turned resistance fighter mourns the loss of his leg in battle. The stories of four people reflect a crisis the U.N. special envoy last week warned was taking a "catastrophic toll" on the population. THE TEACHERA middle-school teacher has been living in a Thai border town since fleeing arrest in Myanmar last year. A slight woman with long black hair, she joined the civil disobedience movement (CDM) that sprang up after the coup. Her green and white uniform is safe in Myanmar, she said, neatly stored, in case of her return.

REUTERS/Athit Perawongmetha/Summary WHO's executive board meets from Jan. 30-Feb. 7WHO seeking $6.86 bln for 2024-2025 budgetBody seen pushing for bigger role in global health crisesGENEVA, Jan 30 (Reuters) - The World Health Organization will push at its board meeting this week for an expanded role in tackling the next global health emergency after COVID-19, but is still seeking answers on how to fund it, according to health policy experts. Also on his list was "the position of the World Health Organization, recognizing there is a need for a reinforced central role for WHO" in the global health emergency system. "It's a huge knot," said Nicoletta Dentico, the co-chair of the civil society platform the Geneval Global Health Hub. PANDEMIC PREPARATIONThe WHO, which celebrates its 75-year anniversary having been set up in 1948, will also use the meeting to advocate for a boosted role in pandemic preparedness, documents showed. Tedros will call for a Global Health Emergency Council to be set up linked to WHO governance.

☆ Indonesia finds local trader forged ingredient label in probe of cough syrup deaths
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

Authorities have said two ingredients, ethylene glycol (EG) and diethyelene glycol (DEG), found in some syrup-based paracetamol medications are linked to acute kidney injury, which many of the children suffered. Pipit Rismanto, a senior police official, told reporters authorities have found that CV Samudera Chemical sold "industrial-grade" EG and DEG as pharmaceutical-grade propylene glycol manufactured by Dow Chemical Thailand and supplied them to distributors of local drug-makers. Police have arrested and charged officials at Samudera and its distributor CV Anugrah Perdana Gemilang. Reuters could not immediately reach CV Samudera Chemical or its distributor for comment. Last week, The World Health Organization called for "immediate and concerted action" to protect children from contaminated medicines after about 300 deaths in Gambia, Uzbekistan, and Indonesia linked to cough syrups last year.

BANGKOK, Jan 27 (Reuters) - Thailand's ruling pro-military Palang Pracharat party has chosen political veteran and former army chief Prawit Wongsuwon as its prime minister candidate, a senior official said on Friday, as parties gear up for an election that must be held by May. "He is the centre of the party ... our members, parliamentarians all see him as talented and most suitable," Palang Pracharat's deputy leader Paiboon Nititawan said after a party meeting. Both are former army chiefs who often refer to each other as brothers, hailing from the elite Queen's Guard unit. In a Facebook post on Wednesday Prawit said "politicians must be able to work with all parties, compromise to reduce conflict and adhere to the public interest." A "divide and conquer" strategy might work, he added, with Prawit's party able to win votes in areas where Prayuth may not be popular.

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☆ Thailand to begin construction of $9 bln aviation city this year
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, Jan 27 (Reuters) - Thailand will begin construction on the 290-billion baht ($8.82 billion) U-Tapao aviation city early this year, a government spokesperson said on Friday. The project will generate 15,600 additional jobs in the first five years and drive growth in Thailand's aviation industry, Tipanan Sirichana said in statement. The investment plan is slated to turn the Vietnam-war era U-Tapao airport into a new international airport linked up with a budget terminal, Don Muang airport, and the country's main Suvarnabhumi Airport. The project named "Eastern Aviation City" will also include a free trade zone for cargo, an aviation training centre and aircraft maintenance, repair and overhaul facilities, a government website shows. ($1 = 32.8800 baht)Reporting by Panarat Thepgumpanat, Writing by Chayut Setboonsarng; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Here's where mainland Chinese traveled overseas for the Lunar New Year
▼ + stars: | 2023-01-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Travelers from mainland China stuck close to home in Asia during the Lunar New Year, the first holiday after Beijing relaxed its Covid-related border controls. Hong Kong and Macao were the most popular spots, said Trip.com, citing flight bookings on its platform for the first four days of the Lunar New Year. Here are the next three most popular overseas destinations for mainland travelers, according to Trip.com:3. Phuket, ThailandFlight bookings for travel from the mainland to overseas destinations during the first four days of the holiday quadrupled from a year ago, Trip.com said. However, Japan and South Korea — both popular among Chinese tourists — subsequently imposed temporary restrictions on travelers from China, including limits on visas and quarantining Covid-positive individuals.

☆ Want to cash in on China's reopening? Bank of America and UBS have some less obvious stock picks
▼ + stars: | 2023-01-26 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

China's unwinding of its strict Covid-19 controls has got analysts scrambling to identify reopening beneficiaries in the stock market. But there could be another way to play the reopening, with Bank of America and UBS having identified a raft of less obvious beneficiaries outside of China. UBS' stock picks Thai hospitality group Minor International is one of UBS' top picks. Within Thailand, UBS also named rail transit operator BTS Group, expressway and metro operator Bangkok Expressway & Metro, as well as Bangkok Bank as reopening beneficiaries. Student placement provider IDP Education, as well as property groups Lendlease Group and Mirvac Group also made the UBS list.

☆ I'm a general manager on a $450-million cruise ship. I'm on duty 24 hours but it's worth it to travel the world in a floating 5-star hotel.
▼ + stars: | 2023-01-26 | by ( Claire Turrell | ) www.businessinsider.com time to read: +6 min

He is now the general manager for the $450-million Regent Seven Seas Explorer. Now I'm the general manager on the $450-million Regent Seven Seas Explorer. Courtesy of Six Star CruisesThe first time I joined a cruise ship crew was in Los Angeles in May 1997. I worked on MSC Cruises for four years until I became food and beverage director for Regent Seven Seas in 2014. In December 2021, I was promoted to general manager for Regent Seven Seas Explorer.

☆ I'm a general manager on a $450 million cruise ship. I'm on duty 24 hours a day, but it's worth it to travel the world in a floating 5-star hotel.
▼ + stars: | 2023-01-26 | by ( Claire Turrell | ) www.businessinsider.com time to read: +6 min

He is now the general manager for the $450 million Regent Seven Seas Explorer. Now I'm the general manager on the $450 million Regent Seven Seas Explorer. The Regent Seven Seas Explorer is called "the world's most luxurious" by the cruise line. I worked on MSC Cruises for four years until I became the food-and-beverage director for Regent Seven Seas in 2014. In December 2021, I was promoted to general manager for Regent Seven Seas Explorer.

☆ Thai PM walks out of news conference over question on ex-leader Thaksin
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] Thai Prime Minister Prayuth Chan-ocha campaigns as the PM candidate for the United Thai Nation Party (Ruam Thai Sang Chart Party) ahead of a general election this year in Bangkok, Thailand, January 9, 2023. REUTERS/Chalinee ThirasupaBANGKOK, Jan 26 (Reuters) - The mere mention of Thailand's ousted former premier Thaksin Shinawatra prompted Prime Minister Prayuth Chan-ocha to walk out of a news conference this week, irked by talk of the exiled political heavyweight's long-touted return. I don't like it," Prayuth said on Wednesday cutting off a reporter's question about Thaksin, before walking away from the podium and out of the venue. Paetongtarn, 36, last week declared her readiness to be prime minister with the Pheu Thai Party, which won most seats in the 2019 election but not enough to form a government. Reporting by Chayut Setboonsarng; Writing by Martin Petty; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

Thailand's economy is expected to continue growing while headline inflation should decline and return to a target range of 1% to 3% late in the year, the central bank said. Any further rate hikes would be gradual and measured, it said, but added it stood ready to adjust them as needed. "The committee deems that a continuing gradual policy normalisation is an appropriate course for monetary policy consistent with the growth and inflation outlook," the BOT said in a statement. It added it expected "increased risks from demand-side inflationary pressures due to the economic recovery". China's reopening is expected to further boost Thailand's tourism, with the government predicting at least five million Chinese visitors this year, about half of the 2019 figure.

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