The value of Dogecoin jumped 18 per cent on Friday after Tesla CEO Elon Musk tweeted the electric car maker will accept the cryptocurrency for payment.
Musk had previously teased the offer on December 14, saying: “Tesla will make some merch buyable with Doge & see how it goes”.
He confirmed the move via Twitter on Friday: “Tesla merch buyable with Dogecoin”.
The value of the digital coin rose 18 per cent to US$0.20 after the reveal on Friday but had slid back to $0.19 at 1pm on Saturday.
Dogecoin was launched in 2013 as a joke to parody the cryptocurrency craze. However, its value rocketed 4,000 per cent last year after Musk promoted it as the “people’s crypto” and said his space exploration company, SpaceX, would accept it as payment.
Dogecoin is currently the only cryptocurrency accepted by Tesla.
Property developers expect to hike their prices by 3 to 5 per cent this year due to rising construction costs and a restoration of balance in the property market.
Apa Ataboonwongse, chief executive officer at Richy Place, said on Friday that now that some of the properties in stock since 2020 have moved, developers will need to adjust their prices to reflect the cost of construction, which has been rising since last year.
“In 2022, we expect to see property prices go up by 3-5 per cent,” she said. “Developers cannot maintain the same prices despite management cost having reduced over the past year.
“Also, due to Covid-19, most migrant workers have returned to their countries, causing labour shortage. This, in turn, has spiked the manpower cost and delayed most projects by 10 to 20 per cent from their previous schedules,” she added.
Uthai Uthaisangsuk, chief operating officer at property developer Sansiri, said that currently demand and supply in the property market are in a balanced position.
“Sansiri has less than 10 billion baht worth of unsold condominiums and some 2 billion baht worth of unsold houses, which means there is no need for developers to engage in price wars to get rid of stock,” he said. “Instead, this year we will focus on improving after-sales service and improve the quality of the product to attract more customers.”
Meanwhile, Wichai Wiratkaphan, acting director of Government Housing Bank’s Real Estate Information Centre, said the centre estimates that property prices in 2022 will surge due to an increase in the cost of construction materials, though the price of land will likely stay the same.
“This year we also expect to see developers rolling out fewer discounts and promotional campaigns as the demand in the property sector is starting to rise and is matching the supply,” he said.
The fourth phase of the government co-shopping subsidy “Khon La Khrueng” (Let’s Go Halves) may arrive sooner than scheduled, Finance Minister Arkhom Termpittayapaisith said on Friday.
“The ministry is considering moving the registration date for the new round of Let’s Go Halves to mid-February, probably on the 14th as a Valentine’s gift to Thai people,” he said. “After registration, the system will take about a week to verify the information and registrants can start spending by the end of February or early March.”
The fourth phase was initially scheduled to kick off in March.
Under the scheme, the government will cover 50 per cent of the bills for food, drinks and basic necessities capped at up to 150 baht per day when payments are made via the Pao Tang application at participating shops.
A source from the Finance Ministry said that unlike the previous phases, which capped the total subsidy at 3,000 baht per person, this phase will only provide a total of 1,500 per person but will not limit the number of registrants.
Those who were approved for the third phase will have to re-apply for the fourth one, while all approved registrants are required to spend their subsidy within three months.
Arkhom added that the ministry planned to use the 10 billion baht or so leftover from the third phase of the scheme and what’s left of the loan taken to stimulate the economy to fund the fourth phase.
“The proposed budget and registration date will first be approved by the Office of the National Economic and Social Development and then by the Cabinet before the fourth phase can be officially announced,” said Arkhom.
Staged from 21-26 January 2022, this six-day exhibition will transport guests through a living gallery of original artworks, sculptures and installations, with workshops, DJ parties and light shows
The Standard, Hua Hin’s newest and stylish resort where chic beach vibes meet mid-century style, has revealed its latest Activation for 2022, “CREATURE IS”, an avant-garde exhibition that will see 13 local artists unite to transform the resort into an interactive gallery.
From 21-26 January 2022, a series of vibrant, thought-provoking paintings, sculptures and installations will be placed throughout The Standard, escorting guests on an evocative, multi-sensory journey from the hotel’s social lobby to the chic poolside, and out onto the beautiful beach. Curated by Bangkok-based artist NEV3R, this immersive event will also include expert-led workshops, DJ parties, light mapping and more! The overall aim is to create a six-day celebration of cutting-edge, contemporary culture where guests, local residents and art enthusiasts can meet, mingle and learn new skills in a serene, seafront setting.
NEV3R is a specialist in graffiti art, lighting, multimedia installations and more. Visitors to CREATURE IS will be able to see how his colourful, freestyle art reflects his deep passion for popular culture, including music, films and books. He will also introduce guests to BRIDGE, his own art agency.
Other artists being showcased at the festival include LOLAY, whose style is influenced by human behaviour and experiences, KOBORED, a visual artist and motion-graphic designer who specialises in live visual-audio shows, MAX, whose bold, monochrome drawings and collages are inspired by a personal character, RAWIN SUCHAXAYA, a freelance photographer who captures lives through his lens, and CUSCUS, a designer and artist whose work has been exhibited at the Saatchi Gallery in London.
Bangkok-based DJ KASSY has a passion for art, music and fashion and recently opened a boutique tattoo studio called Xylem, TULREXX is a designer, painter and co-founder of a clothing store, and FREAK is a street artist who creates bold, oversized urban murals. INKSMITH is a tattooist, digital specialist and DJ, SIR JORJA is a mural maker who lives life through art, and DJ MAE HAPPYAIR is an LGBTQI icon and a leading light on Bangkok’s nightlife scene.
Together, these free-spirited aesthetes will transform The Standard into a living gallery, filled with dramatic artworks and uplifting installations, including stunning sand sculptures on Hua Hin Beach illuminated by light and laser shows. Intimate workshops of up to 12 people will be staged on the first three days, with FREAK hosting monoprint and printmaking sessions on 21 & 22 January respectively, and LOLAY teaching the art of etching on 23 January.
“CREATURE IS will be an interactive exhibition that has never been seen before in Thailand. NEV3R has brought together an eclectic line-up of contemporary artists to create this cultural carnival. We don’t just want visitors to view paintings or sculptures from behind a rope; we want them to talk to the creators and understand their emotions and influences. This is another example of how The Standard, Hua Hin is showcasing local art and culture in all its forms,” said Marc Sittl, the resort’s General Manager.
Newly-opened in December 2021, The Standard, Hua Hin brings a cool Miami vibe to Thailand’s golden gulf coast. With 199 rooms, suites and villas, an mid-century Lido pool and bar, a restaurant and juice café, all set in lush tropical gardens, this chic seafront hotel is set to attract experience-seeking explorers.
The Standard hotels are only present in the planet’s most desirable destinations, from Miami Beach to the Maldives, London to New York, Hollywood to Hua Hin. For more information, please visit www.standardhotels.com.
Turn Thailand into a livable society with people having good wishes, being generous, ready to share and helping one another to create happiness for all.
Turn Thailand into a livable society with people having good wishes, being generous, ready to share and helping one another to create happiness for all. This is the mission that Mr.Marachai Kongboonma, President of KBM Goodwill Co., Ltd., has staunchly embraced for the business of Positif skincare products and high quality food supplements. The Positif brand is all about the passing of good feelings, letting everyone appreciate their values and those around them to create a society of positive thinking.
The company believes that when ‘Everyone has their own values’ they and the society as a whole can live happily. With that intention in mind, the company has deducted 1% of sales from all channels to support the project of the Dharma Nam Thai Foundation to assist children, the elderly, the handicapped and the disadvantaged in society.
Ms.Preyanee Kongboonma, Executive Vice President of KBM Goodwill, Co.,Ltd. said the company’s benevolence to the society also reflects its approach to research and development of products under the Positif brand which attaches importance to quality, in terms of sourcing of raw materials, production process and environmental friendliness. Products are formulated to best suit most Thai people. The Positif branded products are all made and imported from Japan. In the future, the company is open to selecting high quality raw materials from around the world to provide the best products to consumers, she said.
Mr.Prasong Rungsmaithong, Executive Director of KBM Goodwill Co.,Ltd., pointed out that the company’s commitment to developing high quality products to deliver the best to consumers is the key to building the Positif brand. The company wants to pass on good physical and mental health to everyone through the ‘It’s Real You!’ slogan. The message seeks to let people be aware of their own values and delivering positive energy to everyone in the society. The company also created a song called “It’s Real You!” to communicate this idea. The song was sung by ‘Pimrypie’ and released as a MV on 16 December 2021, which received great feedback with more than 800,000 views so far.
In addition, to reinforce the brand’s slogan to be more prominent in the minds of consumers, the company also communicated the idea through the TV programme called Positif Sunday. Broadcast every Sunday on Amarin TV HD Channel 34 at 4:25 p.m., the programme is the collaboration between the Positif and Amarin TV to inspire viewers about overcoming various obstacles and problems on lives. This programme has Boy Sincharoen, a good-humoured member of Sincharoen Brothers band, as the MC. Furthermore, there is a TV show called ‘Jaan Ni Dee Jung Health Me Dish’ as the collaboration with the Amarin TV and broadcasting every Saturday at 2:20 p.m. This is a health education programme presented in the form of a cooking lesson as Positif believes that up to 70% of good health is derived from good Food. This programme is run by three personalities — Assoc. Prof. Dr. Kornpat Mayurasakorn from Siriraj Hospital; Angkana Panyanoi, aka Ang Khon Plaeng Rang; and Samita Thanasopon, aka Chef Namtoey, of Chikalicious, who share their knowledge about delicious food.
Ms.Romchat Tongpunoi, General Manager of KBM Goodwill Co.Ltd., noted that Positif products now come in two lines, skin care and dietary supplement products. This year, the company plans to launch new products continuously to create diversity and meet the needs of consumers even more. Currently, the skincare group features 15 items, comprising facial cleansing products, facial treatments and sunscreens. Among them are: Positif Phyto Crystal Purifying Cleansing Oil, the innovative warm facial cleansing oil extracted from 100% avocado combining the value of Royal Jelly, and Phyto Complex 8 that is extracted from eight kinds of plant found in Japan. For the dietary supplement group, which is 100% produced and imported from Japan, there are three categories, namely collagen, lycopene and flaxseed oil. For instance, Positif Collagen contains collagen, peptides and marine collagen hydrolysed and extracted from sea fish combined with vitamins C and B2 in the same tablet. This product is good for joints, skin, hair and nails.
Ms Romchat added that the company will this year strengthen its distribution channels by raising the number of dealers to 1,000 from 300 at present. Last year saw the company focussing mainly on distribution through online channels and social commerce including Line, Facebook, IG and famous online shopping platforms such as Shopee, Lazada, as well as large online retailers such as Konvy, Shop24 and King Power. here were also two major partners in distributing products. For 2022, the company aims to expand the business both online and offline. “By online, we want to penetrate every channel, especially those related to health sector to create opportunities for consumers to access Positif products as easily and conveniently as possible.”
The company will also seek to strengthen its offline channels such as pharmacies and health care outlets.
The company is seeking to expand its dealerships by means of ‘Dropship’ to provide opportunities for those who wish to build their own business.
By that format, those representatives will be taken care of directly by the company in terms of consultation on strategies, sales methods and various matters as if they were employees of the company. Trainings from various coaches are made available them to help arming them so that everyone gets to the target faster. “We are looking for partners with expertise in the business and seeing the importance of giving and passing on to come together to do business to make our country a livable society, jointly building a business to grow along with sharing to society at the same time,” she concluded.
“This is a New Year gift from CP Foods to our business partners,”
Charoen Pokphand Foods has extended its Faster Payment, a net 30-day credit term programme, for another three months in a bid to help as many as 6,000 SMEs improve their financial liquidity and cash flow, the company said in a press release.
“The programme, which has been a success for more than 15 months, also helps boost SMEs’ financial status to promptly adapt to the post-Covid-19 business environment,” the statement added.
CP Foods vice president Thidarat Dechayonbuncha said the company agreed to extend the scheme until the end of March to relieve the financial burden faced by 6,000 SMEs, plus save jobs in the industry.
“The extension of the Faster Payment project will help strengthen SMEs’ financial status. With good finance, these businesses will be able to seek investment opportunities and grow steadily in a highly volatile situation.
“This is a New Year gift from CP Foods to our business partners,” Thidarat said.
She explained that CP Foods had initiated the Faster Payment programme in October 2020 to help SMEs by reducing the credit term to within 30 days after the company received products or services.
Aside from this project, she said, CP Foods has developed the potential of SMEs partners in various ways, including sharing policies and guidelines for responsible sourcing of goods and services, upgrading labour management standards and cooperating with the Thai Institute of Directors Association to raise awareness on anti-corruption practices throughout the production process.
“As a result, last year 20 SMEs declared their intention to take part in the business sector’s move to tackle corruption,” Thidarat added.
The UOB Group has reached an agreement to buy Citigroup’s consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam, Citi announced on Friday.
“The deal includes retail banking and credit-card businesses, but excludes the bank’s institutional businesses in the four countries,” Citi said.
All 5,000 Citi staff members are expected to be shifted to UOB once the deal is completed.
UOB will pay Citi a cash consideration for the net assets it is acquiring subject to customary closing adjustments, plus a premium of 915 million Singapore dollars, Citi said, adding that UOB was selected after an extensive and competitive auction process.
Upon closing, Citi expects the transaction to result in the release of some US$1.2 billion of allocated tangible common equity, as well as an increase to tangible common equity of over $200 million.
Peter Babej, Citi Asia-Pacific CEO, said Citi is confident that UOB, with its strong culture and broad regional ambitions, will provide excellent opportunities and become a long-term home for its consumer banking colleagues in Indonesia, Malaysia, Thailand and Vietnam.
Tibor Pandi, country head of Citi Thailand, said the Kingdom remains a key market for Citi globally.
“We remain committed and focused on serving institutional clients locally, regionally, and globally as we have for over half a century,” he added.
Mark Mason, Citi CFO, said the sale of the four consumer markets demonstrated Citi’s sense of urgency to execute its strategic refresh.
“We are committed to working in the best interests of our shareholders by focusing our resources on businesses that can deliver growth, as well as increasing the capital we return to shareholders over time,” Mason added.
The Thai baht opened at 33.23 to the US dollar on Friday, strengthening from Thursday’s closing rate of 33.25.
The currency is likely to move between 33.20 and 33.35 to the greenback during the day and even swing sideways unless there is a new factor, Krungthai Bank market strategist Poon Panichpibool predicted.
He said the baht was supported by the dollar and the sale of gold, though the Omicron situation is pulling it down.
Foreign investors must devote large sums to the baht for it to go beyond the level of 33 to the dollar, he said. Over the past few days, foreign investors sold 6.3 billion baht of short-term bonds as they were not in a hurry to invest in the baht and were ready to sell it when it reached their target.
Poon said the baht may not strengthen much as importers may only buy the dollar when the baht is between 33.10 and 33.20 to the greenback.
He added that the currency market is volatile because investors are selling technology and growth stocks after the US Federal Reserve’s vice chair Lael Brainard sent out signals that an increase in the interest rate and tighter monetary policy to solve inflation is imminent.
Krungsri Securities forecast the Stock Exchange of Thailand (SET) Index on Friday (January 14) would fall to between 1,670-1,675 points as other Asian indices have fallen due to uncertainty over the US Federal Reserves move to raise the interest rate during the meeting on March 15-16.
However, it predicted that the index would rebound from mass buy-ups of stocks to gain high returns, especially shares that gained specific positive sentiment.
It also recommended buying of the following companies’ shares as an investment strategy:
PTTEP, TOP, PTTGC, IVL and SPRC, which benefit from rising oil price and gross refining margin.
BBL, TTB, KBANK and BLA, which benefit from news of interest rate hike.
RCL, LEO, III, WICE, SONIC and JWD, which benefit from rising freight rate.
The SET Index closed at 1,680.02 on Wednesday, up 1.52 points or 0.09 per cent. Transactions were totalled 82.46 billion baht with an index high of 1,682.71 and a low of 1,675.74.
Top five stocks with the highest trade value were KBANK, SCB, SAWAD, GULF and PTT.
The Consumer Confidence Index in December rose to 46.2, up from 44.9 in November, the University of the Thai Chamber of Commerce president, Thanawat Phonwichai, reported on Thursday.
This was the fourth consecutive month of improvement and the highest level in nine months since April 2021, as consumers tended to worry less about the Covid-19 situation in Thailand, he said.
However, the number of daily infections is likely to increase due to the Omicron strain after the New Year holidays, but the daily death toll in the country has begun to decline, Thanawat said.
The agency will monitor how the number of coronavirus cases in the first quarter of 2022 will affect consumer confidence and economic recovery, he said.
The Overall Economic Confidence Index was 40.1, the Confidence Index for Job Opportunities 42.7 and the Confidence Index on Future Income 55.7, he said.
There were positive factors that affected the confidence index, such as a Cabinet meeting which approved seven economic stimulus measures, the Monetary Policy Committee’s (MPC) move to keep the policy rate at 0.50 per cent, the MPC revising its GDP 2021 forecast to 0.9 from 0.7 per cent previously, and expecting GDP in 2022 and 2023 to expand.
Other positive factors were the global Covid-19 situation, which improved due to vaccinations while the number of cases in Thailand declined, November 2021 exports expanding 24.7 per cent and the price of many agricultural crops improving.
The negative factors included new concerns over the pandemic, including the novel Omicron variant which caused the Test & Go scheme to be suspended, consumer worries over a slowing economy, a higher cost of living, rising domestic oil prices and political instability.
The Thai Chamber of Commerce estimates that in 2022 the economy will grow around 4 per cent, with 2.5-3 per cent growth in the first half and 5-5.5 per cent in the second half.
Full-year inflation is expected to be 1.5 per cent, with 2-2.5 per cent in the first half and 1-1.5 per cent in the second half.
Newly-opened in December 2021, The Standard, Hua Hin brings a cool Miami vibe to Thailand’s golden gulf coast. With 199 rooms, suites and villas, an mid-century Lido pool and bar, a restaurant and juice café, all set in lush tropical gardens, this chic seafront hotel is set to attract experience-seeking explorers.
Peter Babej, Citi Asia-Pacific CEO, said Citi is confident that UOB, with its strong culture and broad regional ambitions, will provide excellent opportunities and become a long-term home for its consumer banking colleagues in Indonesia, Malaysia, Thailand and Vietnam.
Mark Mason, Citi CFO, said the sale of the four consumer markets demonstrated Citi’s sense of urgency to execute its strategic refresh.
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