The Commerce Ministry is getting ready to issue a certificate for exporting 24,883 tonnes of rice to the European Union under zero tariff in October.
Kirati Ratchano, deputy director-general of the Department of Foreign Trade, revealed on Tuesday that on September 22, the European Commission issued a notification on the remaining quota for white rice (white rice, Thai jasmine rice, Thai fragrant rice and parboiled rice) for October without limitations of import duty. EU importers are required to apply for an import licence within the first 10 business days of October.
Thai rice exporters who want to exercise their right and benefit from the said quota have until October 14 to apply for an EU export certificate.
Nam Ngum 2 debentures sold out, given “A/Stable” rating
Sep 29. 2020
By THE NATION
Nam Ngum 2 Power Company Limited (NN2) has issued debentures of Bt1 billion, Thanawat Trivisvavet, managing director of CK Power Public Company Limited and a director of NN2 said.
The debentures, with a tenure of three years and five years, come with interest rates of 3.2 per cent per year and 3.6 per cent, respectively, in order to pay off another Bt1 billion of debentures, which is due for payment next month, Thanawat said.
TRIS Rating has given the second round of debentures an “A/Stable” credit rating.
NN2 is a subsidiary of CKPower that is registered as a juristic entity in the Lao People’s Democratic Republic, with installation capacity of 615 megawatts. It sells all its production to the Electricity Generating Authority of Thailand (Egat).
After the payment is made for existing debentures, NN2 will have a total of Bt13.9 billion worth of outstanding debentures as of October 31. However, the company still has a credit line of Bt2.1 billion available to issue additional debentures, although the firm is yet to schedule the issuance.
“We have received more pre-orders than the amount initially offered, and the debentures have sold out quickly. I am confident the Nam Ngum 2 hydroelectric power plant will be able to produce and deliver electricity to Egat as promised this year,” Thanawat said.
The Bank of Thailand (BOT) has decided that banks and financial institutions will provide services as usual on November 19-20, which have been designated as holidays to boost the economy.
In order not to increase costs to businesses and to allow them to perform transactions as planned, banks will instead close for holidays as scheduled on December 7 (public holiday) and also on December 11.
Tech giant Huawei offers new opportunities at job expo
Sep 28. 2020
By THE NATION
Huawei Technologies (Thailand) announced it is ready to help create jobs for new graduates and those who have recently lost their jobs due to the Covid-19 crisis.
The company took part in the three-day Job Expo Thailand 2020 event, which wrapped up on Monday. The event was held at Bitec Bang Na to offer job seekers new opportunities.
Abel Deng, Huawei Thailand’s CEO, was at hand to welcome PM Prayut Chan-o-cha, who was accompanied by Deputy PM General Prawit Wongsuwan, Foreign Minister Don Pramudwinai, Energy Minister Supattanapong Panmeechao, Justice Minister Somsak Thepsuthin, Labour Minister Suchart Chomklin, Deputy Labour Minister Narumon Pinyosinwat, Federation of Thai Industries president Suphan Mongkolsuthee among others.
Deng told the ministers that Huawei has created a large number of openings for full-time jobs, paid training and internships in a wide range of sectors, including IT/cloud engineering, 5G ecosystem management, marketing, sales, human resources, finance and public relations.
Featuring over a million vacancies, the fair hosted “now hiring” booths from government agencies, state enterprises and private firms. Job seekers unable to attend the event can also find all open positions at Huawei Thailand via ไทยมีงานทำ.com
Despite unprecedented challenges Thailand is facing due to Covid-19, Huawei insists that Thailand’s ICT sector still has plenty of room for growth.
“Our team here in Thailand continues to expand every year. As of last August, our office recruited 36 per cent more new graduates compared to the same period last year,” Deng said. “By participating in this year’s job expo, we aim to help the government create more jobs through a quick-hiring process, which will accelerate the post-pandemic recovery. We will recruit both new graduates and seasoned workers to join us, as part of our long-term commitment to enable the country’s digital transformation.”
Thai Otsuka donates medical foods to Makudkiriwan Hospital in Nakhon Ratchasima
Sep 28. 2020
By THE NATION
Recently, Thai Otsuka Ltd has donated “Medical Food” product to the Royal Medical Unit of Chulabhorn Hospital on Mahidol Day to help patients who are at risk of malnutrition.
Marisa Sombatboon, assistant secretary-general of the Royal College of Chulabhorn Special Affairs Department received the donation from company’s representative at Makudkiriwan Hospital in Nakhon Ratchasima.
Thai Otsuka, under the vision of president Shinsuke Yuasa, realizes the importance of improving the quality of life of people in the society and is committed to promoting a better and sustainable future.
Ajinomoto supports scholarships for children of journalists
Sep 28. 2020
By THE NATION
Food company Ajinomoto (Thailand) has made a donation to help educate children of Thai journalists.
Kesya Chaicharncheep, right, public relations manager at Ajinomoto (Thailand) presented a donation of Bt30,000 to Anan Nilmanon, president of the Provincial Press Association of Thailand, to go towards scholarships for children of journalists under the association, which Ajinomoto has been sponsoring for 12 consecutive years.
The presentation was recently held at Ajinomoto’s head office in Bangkok.
The Stock Exchange of Thailand (SET) Index dropped by 0.65 points, or 0.05 per cent, to 1,262.37 in the morning session on Tuesday.
An analyst at Krungsri Securities expected the index to rise to between 1,270 and 1,275 points as investors were ready to take more risks to gain increased returns, leading to a rise in the global stock market.
“Meanwhile, bank shares have shown signs of recovery for the first time amid the Covid-19 crisis,” he pointed out.
“Therefore, we expect the share price in the laggard group, such as bank and energy shares, to rise, while share prices in the leading group of electronics and agriculture are expected to slow down.”
He recommended investors buy:
> Bank stocks that have shown signs of recovery, such as KBank, SCB and BBL.
> Stocks that were involved in block trade, such as CBG, KTC and TKN.
> Stocks that benefit from a Covid-19 vaccine development, such as AOT, Centel, Mint and ERW.
The SET Index closed at 1,263.02 on Monday, up 18.08 points, or 1.45 per cent. Total transactions amounted to Bt41.29 billion, with an index high of 1,264.50 points and a low of 1,251.12.
The price of gold rose by Bt450 per baht weight in morning trade on Tuesday, the Gold Traders Association reported.
As of 9.24am, the buying price of a gold bar was Bt28,200 per baht weight and selling price Bt28,300, while gold ornaments cost Bt27,697.32 and Bt28,800, respectively.
At close yesterday, the buying price of a gold bar was Bt27,750 per baht weight and selling price Bt27,850, while gold ornaments cost Bt27,257.68 and Bt28,350, respectively.
The spot gold price moved to US$1,886 (Bt59,817.96) per ounce this morning after the price rose by $16 to $1,882.30 at close yesterday.
The gold price closed in positive territory from a weakening dollar and uncertainty over the Covid-19 pandemic, helping the precious metal as a safe-haven asset to become more attractive to investors.
Meanwhile, the Hong Kong gold price rose by HK$280, opening at $17,420 (Bt71,288.99) per tael this morning, the Chinese Gold and Silver Exchange Society reported.
The Asean-Canada free-trade agreement is expected to boost Thailand’s economic growth by 1.97 per cent, the Department of Trade Negotiations’ deputy director-general Duangathid Nithiutai said.
He was citing a region-based feasibility study conducted by the Economic Research Institute for Asean and East Asia.
Bilateral trade between Thailand and Canada last year stood at US$2.55 billion, of which $1.6 billion accounted for Thai exports. Key products exported to Canada include canned seafood, rice, computers and computer components.
By Syndication Washington Post, Bloomberg · Vildana Hajric, Claire Ballentine · BUSINESS U.S. stocks jumped after four weeks of declines and European shares added the most in three months amid broad gains for equities. The dollar weakened.
Banks led the S&P 500 Index to its biggest gain in two weeks as investors found buying opportunities after the gauge fell to its lowest since July last week. More than 10 stocks were higher on the benchmark for every one that fell. HSBC Holdings Plc added almost 9% after its biggest shareholder raised its stake, while an index of lenders rose the most a month. Shares also advanced in Asia.
Signs that U.S. politicians are moving toward new fiscal stimulus has been a boon to stocks in recent days, while the Federal Reserve continues to provide liquidity. Stronger economic reports from China also lifted investor sentiment, with data over the weekend showing profits at Chinese industrial companies grew for a fourth consecutive month in August.
“The Fed is making it almost impossible for you to get too bearish,” said John Porter, head of equities at Mellon Investments. “The market is getting more comfortable with the realization that Covid is going to be with us for a while now.”
The advance in global stocks was broad, instead of tech-focused, a sign that optimism about global growth and the end of pandemic lockdowns is returning. Still, equities remain on course for the first month of losses since March after investors sold overheated stocks and fears about a resurgence in the virus weighed on airlines and retailers.
“September certainly continued to challenge the intestinal fortitude of the bulls, but charting the S&P 500 from March shows the bull market remains very much intact,” said Chris Larkin, managing director of trading and investment product at E*Trade Financial Corp.
In emerging markets, the Turkish lira and Russian ruble weakened as fighting between Armenia and Azerbaijan curbed appetite for the currencies of their bigger neighbors.
Traders Get Fresh Reason to Sell Lira, Ruble as Neighbors Fight
These are the main moves in markets:
Stocks
– The S&P 500 Index gained 1.6% as of 4 p.m. EDT.
– The Stoxx Europe 600 Index climbed 2.2%.
– The MSCI Asia Pacific Index increased 1.3%.
– The MSCI Emerging Market Index climbed 1.1%.
Currencies
– The Bloomberg Dollar Spot Index fell 0.3%.
– The euro gained 0.3% to $1.1667.
– The British pound jumped 0.7% to $1.2834.
– The Japanese yen rose 0.1% to 105.49 per dollar.
Bonds
– The yield on 10-year Treasurys rose less than 1 basis point to 0.66%.
– Germany’s 10-year yield rose less than one basis point to -0.53%.
– Britain’s 10-year yield rose one basis point to 0.20%.
Commodities
– West Texas Intermediate crude rose 0.8% to $40.59 a barrel.
