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Tesla’s $1.5-billion investment makes Bitcoin very attractive

NationalFeb 10. 2021

By The Nation

The Bitcoin is expected to become popular among investors now that Tesla has bought US$1.5 billion worth of the cryptocurrency, an investment expert said on Tuesday.

According to the Washington Post, the digital currency jumped by as much as 15 per cent to more than $44,000 for the first time after Tesla announced its investment.

Tesla has also said it will begin accepting the digital token as a form of payment for its electric cars.

Noppavee Bukkamana, founder of Creative Investment Space (CIS), which provides knowledge on new investment, said the Bitcoin was accepted by several companies, such as Microstrategy, Square and Paypal.

He added that institutional investments in Bitcoin will help reduce its volatility because they usually invest for the long term.

“Research from Ark Investment, a global asset manager, shows that the price of Bitcoin will rise up to $40,000 if S&P500-listed firms allocate 1 per cent of their reserve capital on investing in this currency,” he said.

“The Bitcoin will rise to $200,000 if institutional investors, such as pension funds, insurance companies and national wealth funds invest 2.5 per cent in the cryptocurrency.”

He said the Bitcoin is being boosted because institutional investors are paying more interest to it than gold, which is being pressured by central banks due to the strengthening dollar.

“The supply of the Bitcoin is likely to drop quickly, now that large investors are showing interest in it,” he said.

He added that the price of the Bitcoin is likely to move in the positive territory, giving the cryptocurrency’s support and resistance lines at $42,000 and $48,000, respectively.

“However, we advise investors to purchase the Bitcoin when it is cheap and those interested in long-term investment can buy the cryptocurrency using the dollar-cost averaging method,” he added.

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Police shake heads as mass pile-up closes road at accident blackspot

NationalFeb 09. 2021

By The Nation

Three separate accidents closed a notorious section of highway 304 from Chachoengsao to Kabin Buri on Tuesday morning, as unseasonal rain left the road surface slippery.

The accidents occurred in Muang Chachoengsao, on the 5-kilometre stretch from 11th Infantry Division base intersection. 

After a sudden downpour at 7.40am, a pickup truck skidded into a ditch under the railway bridge in front of Thadrat Charoen Maneerit Temple, while 1.5km away a six-wheeler also careered into the ditch. No injuries were reported.

However, the slippery surface had another surprise in store for drivers, when an empty school bus slammed on the brakes after losing control between Muang Chachoengsao and Bang Khla. Drivers behind were unable to stop in time, causing a mass pile-up of 15 vehicles including a 10-wheeler, 6-wheeler truck, pick-up trucks and passenger cars. Two people were injured – driver and passenger in a pick-up.

Traffic police said many accidents had occurred on this section of the road, especially following heavy rain. Relevant officials had been informed about the slippery road, but no solution or maintenance plan had been offered.

The road was reopened at around 10am after the wreckage had been cleared.

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SET edges up as vaccines, US stimulus inject recovery hope

NationalFeb 09. 2021

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,518.27 on Tuesday, up 1.84 points or 0.12 per cent. Total transactions amounted to Bt92.88 billion with an index high of 1,529.49 and a low of 1,516.50.

In the morning session, a Krungsri Securities analyst expected the day’s index to rise to between 1,525 and 1,530 points on hopes of economic recovery spurred by expected rollout of US stimulus and Covid-19 inoculation.

He said Thai energy and petrochemical shares were also buoyed by the rising oil price.

The 10 stocks with the highest trade value today were PTT, KBANK, BBL, GPSC, BANPU, EA, SCGP, PTTEP, KTC and PTTGC.

As of 4.30pm, the price of oil rose by US$0.11 or 0.19 per cent to $58.08 per barrel, while gold rose by $12.20 or 0.67 per cent to $1,846.40 per ounce.

Other Asian indices were mixed:

Japan’s Nikkei Index closed at 29,505.93, up 117.43 points or 0.40 per cent.

China’s Shang Hai SE Composite Index closed at 3,603.49, up 71.04 points or 2.01 per cent, while the Shenzhen SE Component Index closed at 15,630.56, up 360.94 points or 2.36 per cent.

Hong Kong’s Hang Seng Index closed at 29,476.19, up 156.72 points or 0.53 per cent.

South Korea’s KOSPI closed at 3,084.67, down 6.57 points or 0.21 per cent.

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Pro-active tests in Bangkok find no Covid cases for five days running

NationalFeb 09. 2021

By The Nation

Pro-active testing among factory workers in six Bangkok districts has revealed no positive cases for the past five days, the Bangkok Metropolitan Administration (BMA) said on Tuesday.

The BMA has since January 28 tested 13,590 people from 127 factories in the districts of Phasi Charoen, Bang Khae, Nong Khaem, Bang Bon, Chom Thong and Bang Khuntien. So far, only 54 patients have been found, which sets the infection rate for the six districts at just 0.4 per cent.

Despite the good results, everybody is encouraged to maintain good hygiene practices, including wiping clean frequently touched areas, wearing masks, washing hands and avoiding crowds.

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Sinovac jabs to arrive this month, vaccination plan revealed

NationalFeb 09. 2021

By The Nation

The National Vaccine Committee on Monday reported progress in procuring doses from three companies – Sinovac, AstraZeneca and Johnson & Johnson.

Public Health Minister Anutin Charnvirakul said Thailand would first receive 2 million doses from China’s Sinovac, with 200,000 doses arriving in February, 800,000 in March and 1 million in April. He added the ministry will talk with employers and the Labour Ministry regarding expenses for vaccination of foreign workers.

Meanwhile, talks are due today with Russian authorities to procure the Sputnik V vaccine for Thailand.

Thai authorities also spoke with Johnson & Johnson last week, but no contract for its single-jab vaccine was agreed. The Health Ministry is concerned over the large number of doses in the proposed deal and their arrival at the end of the third quarter, which may overlap AstraZeneca shipments.

However, Thai officials want more vaccines registered with the Thai Food and Drug Administration (FDA) so private hospitals can meet demand.

China registered the Sinovac vaccine last week, meaning the Thai FDA should be able to register it soon, the ministry said.

The National Vaccine Committee also approved a two-phase strategy for Thailand’s vaccination programme.

In the first phase, 2 million Sinovac jabs will be given over 2-3 months to control the outbreak. The target group are medics, disease-control workers, people with underlying diseases, people over 60 years old, and industrial workers in red zones such as Samut Sakhon and areas of Bangkok, Tak and Chon Buri.

In the second phase, 61 million AstraZeneca jabs will cover seven groups: the general public, industrial workers, tourism personnel such as workers in hotels and entertainment venues, tour guides, pilots and crew, diplomats and international officials, and other types medical and public health personnel.

This phase will be completed in four months, accelerating from 5 million injections per month to 10 million per month.

National Vaccine Institute director Dr Nakhon Premsri revealed that 26 million doses of locally-made AstraZeneca vaccine should be available on schedule in June. However, the first shipment of 50,000 doses had been delayed and may not arrive in February, as scheduled. World vaccine production was currently insufficient to meet demand, he added.

The committee is also considering the Novavax vaccine to boost Thailand’s supply of doses.

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Cabinet okays Bt32.6bn subsidy for rice, oil palm farmers

NationalFeb 09. 2021Commerce Minister Jurin Laksanawisit

By The Nation

The Cabinet on Tuesday approved over Bt32.6 billion in subsidies for rice and oil palm farmers.

Each rice farming household will be granted Bt500 per rai, capped at 20 rai. The subsidy will cover 4.6 million families at a cost of Bt28 billion, according to Commerce Minister Jurin Laksanawisit, whose ministry proposed the subsidies.

He added that each oil palm farming household will be granted Bt4 per kilogram, capped at 25 rai, in a subsidy scheme worth Bt4.61 billion.

Farmers can check their payment status at the Bank for Agriculture and Agricultural Cooperatives website: https://chongkho.inbaac.com/.

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Bangkok tap water will be salty until next week: MWA

NationalFeb 09. 2021

By The Nation

Saltwater intrusion in the Chao Phraya will increase the level of sodium in tap water for at least six days from Wednesday, the Metropolitan Waterworks Authority (MWA) said on Tuesday.

Komkrit Dinakara Na Ayudhya, MWA’s deputy governor, said the agency is cooperating with the Royal Irrigation Department and Bangkok Drainage and Sewerage Department to prevent saltwater from entering the Sam Lae Raw Water Pumping Station.

He said people with kidney or heart disease, high blood pressure or diabetes, as well as the elderly, young children and small pets should avoid drinking tap water. He also said that boiling tap water will not help, because the salt will become even more concentrated.

“People can bring bottles to collect drinkable water at the nearest MWA branch office,” he said.

The quality of water can be followed via the MWA website https://twqonline.mwa.co.th/, through @MWAthailand on Facebook, Line, Twitter and Instagram or via the MWA smartphone application.

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Young girl finally speaks about her five-year nightmare

NationalFeb 09. 2021

By THE NATION

Police arrested a 40-year-old man in Bangkok’s Don Muang district for allegedly raping a minor over five years while he was living in Pathum Thani.

The suspect, Watcharapol Buachuean, is accused of sexually assaulting his neighbour’s daughter since 2015 when she was just seven years old.

The girl, who is now 12, recently mustered up the courage to tell her teacher about her ordeal. She said she had been terrified to tell anyone before because the man had threatened to punish her.

Watcharapol denies the charges, and his case has been handed over to Sam Khok Police Station in Pathum Thani.

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Muang Thong Thani monorail gets green light from govt

NationalFeb 09. 2021

By The Nation

The Cabinet on Tuesday approved a two-station spur for the Pink Line monorail (Khae Rai-Minburi) in northern Bangkok. The spur will run for 3 kilometres from Si Rat station to Muang Thong Thani.

The Mass Rapid Transit Authority of Thailand (MRTA) has hired the BSR joint venture group (BTS-Sino Thai-Ratch Group) to construct and run the Pink Line. The line is due to open in 2022 following construction delays attributed to the Covid-19 crisis.

The budget for the extension has been set at Bt3.379 billion.

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Dams upstream slowly killing the mighty Mekong

NationalFeb 09. 2021Satellite images of the Mekong River on the Nakhon Pathom-Laos border taken on January 3, left, and February 7. Photos: Facebook @gistda.

By THE NATION

The Geo-Informatics and Space Technology Development Agency (GISTDA) on Tuesday released satellite images showing a drastic drop in the water level of Mekong River this Sunday compared to images captured on January 3.

“The water level of Mekong River has dropped considerably in the past month,” the agency said. “The sediment is now clearly visible under the water, which is now dark blue, while several sand bars have emerged in the middle of the river.”

GISTDA said this change in water levels is an indication of the severe drought the region will face.

“Eight provinces along the river will be affected, namely Chiang Rai, Loei, Nong Khai, Beung Kan, Nakhon Phanom, Mukdahan, Amnat Charoen and Ubon Ratchathani,” it said. “The drought will not just affect the ecosystem, but also farms growing cash crops like rice, rubber, tobacco and tomato.”

Meanwhile, Samran Reunnak, acting chief of Nakhon Phanom Fishery Office, said the level of the river has been low for several years now and will eventually affect the local aquatic life.

“The river turns dark blue because the water is too low and cannot flow properly, causing the sediment to settle, which makes the water darker,” he said. “Fish will not be able to lay eggs in this water and eventually some rare species will disappear from the river.”

Samran put the drop in Mekong River levels down to dams built in neighbouring countries.

The once mighty Mekong River has been crippled by 11 dams built by China upstream and another two in Laos despite protests from environmentalists.