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Baht weakens just before BOT monetary policy meet

NationalNov 18. 2020

By THE NATION

The baht opened at 30.19 to the US dollar on Wednesday, weakening from 30.16 at close on Tuesday.

The Thai currency is likely to move between 30.10 and 30.30, said Jitipol Puksamatanan, senior director of the chief investment office at SCB Securities.

On Tuesday night, the US stock market decreased. The S&P 500 contracted by 0.5 per cent, while the Stoxx 600 was down by 0.2 per cent due to investor concern about the Covid-19 situation.

At the same time, the US financial market went into a “risk-off” state again after Federal Reserve Chairman Jerome Powell said Covid-19, for which a vaccine was nearing development, would not affect the economy in the long term. However, he added that employment would take a long time to recover to its normal level.

The US Ten-Year Treasury yield meanwhile decreased by 3.4 basis points to 0.87 per cent, and the dollar weakened by 0.1 per cent, compared to other main currencies.

In Thailand, the baht moved in a narrow range before the Bank of Thailand’s monetary policy committee was due to meet on Wednesday.

Observers believe the central bank will implement more relaxed monetary measures to stimulate the economy, but these policies may tend to weaken the baht, Jitipol said.

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New Student Loan Fund borrowers may not need guarantors

NationalNov 18. 2020

By THE NATION

Deputy Prime Minister and Public Health Minister Anutin Charnvirakul proposed to the Cabinet that new borrowers of the Student Loan Fund should no longer be required to have a personal guarantor, said deputy government spokeswoman Traisulee Traisaranakul on Tuesday.

“The minister said that borrowing from the Student Loan Fund is an investment in the student’s own future and therefore should pose no burden on guarantors, who are usually parents, relatives and sometimes teachers,” she said.

“A Cabinet meeting acknowledged the proposal and assigned the Finance Ministry to study the details before presenting the motion for Cabinet approval.”

The meeting on Tuesday also acknowledged the measures that have been implemented to help alleviate the financial burden of borrowers, including reducing the “late payment” fine from 7.5 per cent to 0.5 per cent, granting a two-year grace period for holders of state welfare cards, cancelling the auction of collateral assets and postponing legal action.

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Govt aims to issue Bt100-bn savings bonds next year

NationalNov 18. 2020Patricia Mongkhonvanit 

By THE NATION

The government is planning to issue Bt100 billion in savings bonds to cope with its financial requirements next year, with the first tranche of Bt50 billion expected to be issued after New Year, the Public Debt Management Office (PDMO) said on Tuesday.

PDMO director-general Patricia Mongkhonvanit said the issuance of bonds depends on whether or not the government has measures that need money after New Year, while the interest rate will be based on the PDMO’s current policy rate as well as the market situation.

“Issuing savings bonds is a fast way to gain capital to support government projects, and so far the bonds have received positive response from the public,” she said.

In fiscal year 2019, the PDMO issued more than Bt100 billion in saving bonds, which was higher than in the past when such bonds hardly exceeded Bt50 billion.

“This is because this year and the next the government has several projects that require large sums of money under Bt1-trillion loan decrees,” she added.

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BTS to BMA: Give us Bt8-bn train operation fee or we will stop running Green Line

NationalNov 18. 2020

By THE NATION

Bangkok Mass Transit System Pcl (BTS), operator of the Green Line train extension section (Bearing-Samut Prakan and Mo Chit-Saphan Mai-Ku Kot) has submitted a letter demanding that the Bangkok Metropolitan Administration (BMA) settle train operation fees amounting to more than Bt8 billion of the extended section, which has been open since 2018, Bangkok Governor Aswin Kwanmuang said.

“BTS said they would have to stop train operations if they do not get paid,” he said.

“The BMA has to admit that we do not have the money and will need financial support from the government since it has tasked the BMA with train operations, but the extended section does not charge passengers additional fares.”

Aswin said the latest test run of Green Line trains on the extended section from Wat Phra Si Mahathat to Ku Kot stations has been completed without any problems and the section is scheduled for public use on December 16, with Prime Minister Prayut Cha-o-cha expected to preside over the opening ceremony.

After a Cabinet meeting on Tuesday, Interior Minister Anupong Paochinda said his ministry had proposed postponing consideration of an investment partnership contract between the BMA and BTS, which aimed to extend the Green Line train contract that would end in 2029 by another 30 years, to 2059, while maintaining a maximum fare of Bt65.

“Several agencies have supported the decision to postpone approval of the contract, including the Transport Ministry, the Finance Ministry and the Office of the Council of State, citing that they have yet to undertake detailed consideration of the contract,” Anupong said.

“Therefore, the ministry decided to postpone submitting the contract for Cabinet approval until all related agencies have given us their opinions.”

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Cool, foggy morning in upper Thailand, isolated heavy rain in South

NationalNov 18. 2020

By THE NATION

Upper Thailand will continue to see cool weather, with fog in the morning and rather cold temperatures on mountaintops, while the Gulf and the South will experience isolated heavy rain, the Meteorological Department said on Wednesday.

 It advised motorists and trucks in upper Thailand to take caution due to poor visibility in many areas.

Here’s the weather forecast for the next 24 hours:

North: Cool weather with fog in the morning; temperature lows of 17-22 degrees and highs of 31-34 degrees Celsius.

Northeast: Cool weather with light fog in the morning; temperature lows of 20-23 degrees and highs of 31-33 degrees Celsius.

Central region: Partly cloudy with light fog in the morning; temperature lows of 22-25 degrees, highs of 33-35 degrees Celsius.

East: Partly cloudy; temperature lows of 23-25 degrees, highs of 33-34 degrees Celsius; waves a metre high and 1-2 metres offshore.

South (east coast): Mostly cloudy with thundershowers in 60 per cent of the area and isolated heavy rain; temperature lows of 23-25 degrees, highs of 32-33 degrees Celsius; waves a metre high and 1-2 metres during thundershowers.

South (west coast): Mostly cloudy with thundershowers in 40 per cent of the area and isolated heavy rain; temperature lows of 23-26 degrees, highs of 33-35 degree Celsius; waves a metre high and 1-2 metres during thundershowers.

Bangkok and surrounding areas: Partly cloudy with light fog in the morning; temperature lows of 24-25 degrees, highs of 33-35 degrees Celsius.

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Cabinet sets aside Bt6 billion to buy 26 million Covid-19 vaccines from AstraZeneca

NationalNov 18. 2020

By The Nation

The Cabinet has earmarked Bt6.05 billion from the national budget for emergency and necessities to reserve 26 million doses of Covid-19 vaccine developed by British pharmaceutical giant, AstraZeneca, government spokesman Anucha Burapachaisri announced on Tuesday.

Of the budget, Bt2.38 billion will be allocated to the National Vaccine Institute to reproduce the vaccine so the price can be brought down to US$5 (Bt150) from $20 per dose.

The remainder will be divided into Bt1.59 billion for reserving vaccines and Bt2.08 billion for management and distribution. The last amount will only be paid out once the vaccine is proved to be effective.

“The Cabinet has agreed to earmark funds for the purchase of vaccines from AstraZeneca because the Public Health Ministry has signed a memorandum of understanding with it. Thailand’s very own Siam Bioscience company is also preparing to produce vaccines,” he said.

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Pattanakarn-Srinakarin flyover reopens after 5 months

NationalNov 17. 2020

By The Nation

The flyover bridge at the intersection of Bangkok’s Pattanakarn and Srinakarin roads was reopened on Tuesday after five months of work to strengthen its structure.

The Pattanakarn flyover runs for 527.5 metres over the intersection with Srinakarin and is divided into 15 sections. The bridge has been in operation since 2004, but was closed on May 30 after complaints from drivers that its road surface had become badly degraded.

City Hall ordered renovation work on the bridge, scheduled for completion within 180 days.

The newly reopened flyover should help ease traffic congestion on Pattanakarn Road and the surrounding area.

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Police fire water cannon at Parliament protesters

NationalNov 17. 2020

By The Nation

Police fired water cannon at anti-government protesters outside Parliament on Tuesday as tensions mounted on the first day of a two-day session to deliberate charter-change motions. At 2.25pm, volunteer protest guards attempted to remove a barrier of barbed wire and cement blocks erected by security forces.

Police issued warnings and then opened fire on the protester guards with water cannon. Speaking through loudhailers, police then warned protesters to stop stay back 50 metres from the Parliament building. Some protest guards responded to the water cannon by throwing smoke bombs towards the police.

Protesters wear raincoats to protect themselves from police water cannon laced with chemical irritant. Those hit were forced to retreat to wash their faces and eyes.

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Dead drunk’s resurrection shocks locals

NationalNov 17. 2020

By The Nation

Locals in Prachinburi’s Kabin Buri district were shaken to the core when a man presumed dead suddenly sat up on Monday morning.

Facebook user Thawin Yoosuk posted images of people standing around a man they thought was dead in a field.

However, when police officers tried to pick up the “corpse”, it sat up terrifying everybody.

The so-called dead man explained he was drunk and collapsed before he could find his way home.

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Universal healthcare pilot project kicks off in Buri Ram

NationalNov 17. 2020Public Health Minister Anutin Charnvirakul 

By The Nation

As of November 1, all state hospitals in Buri Ram province are required to provide four additional services to universal healthcare cardholders.

The new services will give cardholders the right to get treated at all member hospitals, patients transfers will be free of red tape, cardholders will be allowed to shift registration to another hospital immediately and cancer patients can be treated at all hospitals.

Public Health Minister Anutin Charnvirakul, who was visiting state hospitals in Buri Ram on Tuesday, said if this pilot project proves successful it will be expanded nationwide next year.

He explained that under the new system, people can be treated at all hospitals under the universal healthcare scheme instead of being forced to stick to the one they are registered with.

Patients can also get admitted at sub-district health promotion hospitals or community hospitals without requiring certification from the hospital they are registered with. All that is required for admission is a national ID.

Cancer patients can also be treated at any hospital that is ready in Buri Ram province or can be sent to hospitals in the ninth health area, including Nakhon Ratchasima, Chaiyaphum and Surin provinces. Patients can also shift their membership to a different hospital immediately without having to wait for 15 days for the paperwork to be completed. This shift can be done four times per fiscal year.