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BOT puts baht’s rise down to confidence, surging regional currencies

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BOT puts baht's rise down to confidence, surging regional currencies

BOT puts baht’s rise down to confidence, surging regional currencies

SATURDAY, NOVEMBER 12, 2022

The baht is strengthening in line with the upward trend in Asian currencies, the Bank of Thailand (BOT) said in relation to the 5% rise in the Thai currency.

Asian currencies are picking up in response to rising investors’ confidence following speculation that the US Federal Reserve may ease its monetary policy amid a slowdown in inflation, BOT spokesperson Chayawadee Chaianant said on Friday. She is also the central bank’s assistant governor for corporate relations.

She also put the rise down to signs that China may relax its zero-Covid policy.

According to Reuters, the dollar fell across the board for a second straight day on Friday as investors favoured riskier currencies following cooler-than-expected US inflation data, which fuelled the Federal Reserve’s decision to ease its hefty interest rate hikes.

The weakening of the dollar on Friday was an extension of the movement set off after Thursday’s data showed that inflation in the US rose 7.7% year on year in October, the slowest since January and below the 8% forecast.

The BOT, however, predicts that the financial market will still experience high volatility in the coming months, and has warned the private sector to monitor risks from currency exchange rates closely.

The central bank also said that between November 1 and 10, foreigners have purchased 107 billion baht worth of Thai assets. Of that, 89 billion baht was spent on the bond market and 18 billion baht on the securities market.

BOT puts baht's rise down to confidence, surging regional currencies

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Cannabis turbocharging Thailand’s THB1-trillion wellness tourism sector

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Cannabis turbocharging Thailand’s THB1-trillion wellness tourism sector

Cannabis turbocharging Thailand’s THB1-trillion wellness tourism sector

SATURDAY, NOVEMBER 12, 2022

Thailand’s “Health for Wealth” plan for economic recovery is taking off under the twin engines of its herbal products and medical tourism markets – worth 50 billion baht and 1 trillion baht respectively.

Legalised cannabis sold over the counter around the country is the latest fuel powering those impressive figures.

The figures were revealed by the Public Health Ministry on Friday as the country builds the medical hub seen as key to its recovery from the pandemic-related crisis.

The spokes of the hub are traditional Thai medicine, alternative medicine, herbs, Thai local wisdom, and medical tourism, ministry permanent secretary Opas Karnkawinpong said.

In 2022, Thailand has so far consumed 52.104 billion baht worth of herbal products, up from 48.108 billion baht in 2021, he added.

Opas said the Health for Wealth plan had three major benefits: creating more jobs, generating more income for people and the country, and conserving traditional Thai medicine and wisdom.

Meanwhile, the Department of Thai Traditional and Complementary Medicine has set the following four policies for 2022, according to its chief Dr Thongchai Lertwilairattanapong:

  1. Provide traditional Thai medicine and alternative medicine in every area of the primary healthcare system.
  2. Improve the quality, efficiency, and sustainability of herbal medicine manufacturing.
  3. Promote cannabis and hemp to boost the economic value of health products, medical cosmetics, and treatment in the public and private sectors.
  4. Build a Thai foundation to develop leaders in traditional medicine in 2027.

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Thailand to double clean energy production for EVs: Supattanapong

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Thailand to double clean energy production for EVs: Supattanapong

Thailand to double clean energy production for EVs: Supattanapong

FRIDAY, NOVEMBER 11, 2022

Thailand will need to boost production of renewable energy by 10 gigawatts to meet demand from electric vehicles (EVs), Energy Minister Supattanapong Punmeechaow said on Thursday.

Thailand currently has installed renewable energy capacity of over 9GW, or about 14% of its total power mix, according to the ministry’s Department of Alternative Energy Development and Energy.

The country has set a target of one million EVs on the roads by 2025, and 15 million within 10 years as it strives to become a global EV hub.

Supattanapong announced the renewable energy goal as he launched Thailand’s collaboration with the United Nations Partnership for Action on Green Economy (PAGE) on Thursday.

He said the collaboration will help Thailand develop a green economy and achieve carbon neutrality by 2050, adding the country has already invested 640 billion baht on sustainability, ranging from the community level to SMEs and large industrial projects, including promotion of EV manufacturing and usage.

The government recently issued more incentives including excise tax breaks in a bid to make Thailand a world EV leader, he added.

More than 15,000 EVs have been reserved in Thailand this year, helping boost domestic manufacturing. The government is pushing for EVs to make up 10% of total domestic car manufacturing quickly, Supattanapong said.

“Five EV manufacturing companies have decided to build factories in Thailand while European car brands including Mercedes-Benz and BMW will also invest.”

The boom in EV production and usage in Thailand must be supported by an increase in renewable energy, he added.

He said Thailand would hit its carbon neutrality goal faster thanks to technology, expertise and funding from PAGE.

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TCAP reports 17.5% boost in net profit

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TCAP reports 17.5% boost in net profit

TCAP reports 17.5% boost in net profit

FRIDAY, NOVEMBER 11, 2022

Thanachart Capital Pcl (TCAP) has released the operating results for the first nine months of 2022. Net profit based on the consolidated financial statements amounted to 5.142 billion baht, while net profit attributable to the company amounted to 4.134 billion baht, representing an increase of 17.51% when compared to the same period last year. TCAP attributed the results to continuously growing operating results from associated companies and subsidiaries.

Somjate Moosirilert, Chief Executive Officer of Thanachart Capital Public Company Limited (TCAP), said, “Based on the consolidated financial statements of the Company and its subsidiaries for the nine months of 2022, net profit amounted to 5,142 million baht, of which 4,134 million baht was net profit attributable to the Company, representing an increase of 17.51 % when compared to the same period last year. This was mainly due to the continuously growing operating results from the associated companies and the subsidiaries, in which the Company held shares.”

The performance of the associated companies, particularly TMBThanachart Bank (ttb), in which TCAP held shares was stronger. This was mainly due to continued economic recovery. As regards its subsidiaries, profit of Ratchthani Leasing (THANI) increased by 11.55 % compared to the nine months last year. This was attributable to healthy growth of hire purchase loans for trucks, effective cost control management, and efficient asset quality control.

In relation to Thanachart Insurance (TNI), the premiums received in the nine months increased by 24.92 %, which was in line with the established target.

As for Thanachart Plus (T-Plus), it registered continuous growth with outstanding loans of above 4,000 million baht and no non-performing loans. This was due to cautious and effective risk management.

On the other hand, Thanachart Securities (TNS) registered healthy growth in non-brokerage income, offsetting the falling brokerage income due to unfavourable market conditions.

In addition, on October 27, 2022, TCAP made additional investments in TNI and TNS.  As a result, TCAP’s equity stake in the two subsidiaries increased to 89.96 % from 50.96 %. This was mainly because TCAP considered that both subsidiaries were its key subsidiaries and they continuously delivered strong performance with their Return on Equity (ROE) being high.

“TCAP is confident that the additional investments will generate good results for TCAP’s shareholders in the future,” Somjate said.

Centara Anda Dhevi Krabi has special offer for guests

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Centara Anda Dhevi Krabi has special offer for guests

Centara Anda Dhevi Krabi has special offer for guests

THURSDAY, NOVEMBER 10, 2022

A special offer to celebrate the reopening of Centara Anda Dhevi Resort & Spa Krabi will be available for guests from November 15 this year to June 30, 2023, the hotel said.

With “The Place to Be” reopening offer, guests can enjoy a variety of exciting perks, including up to 30 per cent discount on available room rates, 500 baht resort credit to spend on food & beverage for stays of two consecutive nights and a 20% discount on food at all outlets, according to the hotel.

Other benefits include late check-out and a complimentary room upgrade, both of which are subject to availability.

Guests who book rooms will receive a special offer from November 15, 2022, to June 30, 2023. The offer includes complimentary Wi-Fi, daily breakfast for two guests and free stays for up to two children.

Centara Anda Dhevi Krabi has special offer for guests

Located a few steps away from Nopparat Thara and Ao Nang beaches, Centara Anda Dhevi Krabi offers a base from which to explore the province’s tropical wonders, including world-class rock climbing, diving and snorkelling cruises to nearby karst islands.

The resort features an expansive 43-metre swimming pool complete with a swim-up bar, waterslide and direct pool-access rooms.

Kids can enjoy the children’s pool, while adults indulge in a quiet time at the award-winning Cenvaree spa, a fully equipped fitness centre and steam room.

Three delectable dining venues offer culinary experiences every guest will remember, the hotel added.

Centara Anda Dhevi Krabi has special offer for guests

For reservations or more information, contact Centara Contact Centre at ccc@chr.co.th or dial +66(0) 2101 1234, or use live chat.

Infection is as good as vaccine against Covid-19: virologist

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Infection is as good as vaccine against Covid-19: virologist

Infection is as good as vaccine against Covid-19: virologist

SATURDAY, NOVEMBER 12, 2022

Thailand’s top virologist believes an infection offers as much immunity against Covid-19 as vaccines do.

In a Facebook post on Thursday, Dr Yong Poovorawan said more people in Thailand are building immunity against the virus via infection, judging by the drop in Covid-19 vaccines administered daily.

However, he advised people to get at least two shots and a booster jab to protect themselves from severe symptoms.

Dr Yong said that if a person picks up a Covid-19 infection after getting three jabs, they will have enough immunity to fight it off with little or no symptoms.

The virologist believes more than 50% of the Thai population has been vaccinated and this number should rise to 70% soon.

He also warned people at risk, namely people who are 60 and above, those with chronic disease, pregnant women and those weighing more than 90 kilos should get vaccinated or they may suffer severe symptoms.

Yong advised the authorities to study the population’s overall vaccination status and plan the dispensation of boosters next year.

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Virologist calls for immunity study before devising Covid vaccination plan for next year

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Virologist calls for immunity study before devising Covid vaccination plan for next year

Virologist calls for immunity study before devising Covid vaccination plan for next year

THURSDAY, NOVEMBER 10, 2022

A study on people’s immunity is necessary to set up a vaccination plan for next year, as Covid-19 will become a seasonal disease, well-known virologist Dr Yong Poovorawan said on Thursday.

In his Facebook post, he said most people had received their booster jab from nature — through Covid-19 infection.

However, he advised people to consider the side-effects thoroughly, as side-effects from Covid-19 infection would be more severe than from receiving the vaccine jab.

“Hence, receiving the vaccine jab is better,” he said, adding that people should receive at least three jabs no matter what the vaccine type.

Yong pointed out that hybrid immunity from the Covid-19 vaccine and infection is quite effective. He estimated that around 70 per cent of people in Thailand had been infected with Covid-19.

“This is why the severity of Covid-19 has decreased,” he said.

Yong expected Covid-19 to become a seasonal disease from now on as people get on with their normal life.

However, the elderly, pregnant women and patients with underlying diseases would be most vulnerable to Covid-19, he added.

“We have to study people’s immunity to set up a vaccination plan for next year,” he said.

“It is possible that vaccination next year will focus on those vulnerable to Covid-19 and children aged below two years,” he added.

Youths from 21 countries joining United Through Sports exchange in Bangkok

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Youths from 21 countries joining United Through Sports exchange in Bangkok

Youths from 21 countries joining United Through Sports exchange in Bangkok

SATURDAY, NOVEMBER 12, 2022

Some 1,000 people from 21 countries are joining a youth sport and education exchange camp in Bangkok next week.

United Through Sports joined hands with the Sports Authority of Thailand and the National Sports Development Fund to hold the event at Srinakharinwirot University from November 14 to 19.

About a thousand youths and staff from 21 countries will take part, from Afghanistan, Australia, France, Germany, India, Indonesia, Jordan, Philippines, Romania, Saudi Arabia, Singapore, South Africa, South Korea, Sri Lanka, Switzerland, United Arab Emirates, Uganda, Kenya, United Kingdom, United States, and Thailand.

The objective is to connect the Thai sports network with foreign countries, push for Muay Thai to be included in the Olympic Games, and help the country in the bidding to host the Youth Olympic Games.

The activity also aims to create a safe zone for all youths to show their capabilities while recognising the importance of sports.
Participants will get an opportunity to exchange culture, education, and sports via activities including football, futsal, teqball, skateboarding, rock climbing, sepak takraw, and dancing.

Visit www.unitedthroughsports.com, www.facebook.com/unitedthroughsports and United Through Sports’ Twitter, YouTube and Instagram accounts.

Youths from 21 countries joining United Through Sports exchange in Bangkok
Youths from 21 countries joining United Through Sports exchange in Bangkok
Youths from 21 countries joining United Through Sports exchange in Bangkok
Youths from 21 countries joining United Through Sports exchange in Bangkok

Fati in but Thiago and De Gea left out of Spain World Cup squad

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Fati in but Thiago and De Gea left out of Spain World Cup squad

Fati in but Thiago and De Gea left out of Spain World Cup squad

SATURDAY, NOVEMBER 12, 2022

Reuters

Spain coach Luis Enrique included Barcelona’s Ansu Fati but left out Liverpool midfielder Thiago Alcantara and Manchester United goalkeeper David de Gea from his 26-man World Cup squad on Friday (November 11).

Fati, now 20, made his international debut in 2020 at 17 and in his second game became the youngest player to score for Spain, breaking a record held since 1925 by Juan Errazquien.
 

But the forward is fighting his way back from four surgeries to repair an injury to his left knee, suffered in November 2020.

“He was one of our last question marks. I was uncertain until the last minute, but I picked him because his technical qualities are amazing and being here with us could work as a big motivator for him as he’s still working to get back to peak form,” Enrique told a news conference in Las Rozas, a suburb of Madrid.

“It’s a process that he’s going through to become the Ansu Fati that he was before the injury.

“Surely it could be assessed when he will recover his previous level. It is one of the things we all look for.”

Luis Enrique declined to comment on the players who were left out, but the absence of veterans like De Gea, Thiago and Barcelona defender Marcos Alonso points to the manager’s preference to go all-in with Spain’s new generation of talent.

De Gea has fallen out of favour with Luis Enrique who said in March he “wanted to test other goalkeepers” and Thiago saw his role diminish with the rise of Barca teenagers Pedri, 19, and 18-year-old Gavi.

“Youth gives you freedom because you are not yet aware of the consequences,” Luis Enrique said. “Yet, most of the youngsters that are with us are already in high-level teams.”

“The bar that I’m setting is infinity. My goal is to compete in every game.”

“There’s no one outside of Spain who rules out Spain as a candidate to be among the best. We are going to cause problems, there is no doubt.”

Spain have been drawn in Group E with Costa Rica, Germany and Japan.

Spain coach Luis Enrique included BarcelonaSpain coach Luis Enrique included Barcelona
 

Squad:

Goalkeepers: Unai Simon (Athletic Bilbao), Robert Sanchez (Brighton & Hove Albion), David Raya (Brentford).

Defenders: Cesar Azpilicueta (Chelsea), Dani Carvajal (Real Madrid), Eric Garcia (Barcelona), Hugo Guillamon (Valencia), Pau Torres (Villarreal), Aymeric Laporte (Manchester City), Jordi Alba (Barcelona), Jose Gaya (Valencia).

Midfielders: Sergio Busquets (Barcelona), Rodri Hernandez (Manchester City), Gavi (Barcelona), Carlos Soler (Paris St Germain), Marcos Llorente (Atletico Madrid), Pedri Gonzalez (Barcelona), Koke Resurreccion (Atletico Madrid).

Forwards: Ferran Torres (Barcelona), Nico Williams (Athletic Bilbao), Yeremi Pino (Villarreal), Alvaro Morata (Atletico Madrid), Marco Asensio (Real Madrid), Pablo Sarabia (Paris St Germain), Dani Olmo (RB Leipzig), Ansu Fati (Barcelona)

Spain Squad World Cup 2022 / via Selección Española de Fútbol (SeFutbol)Spain Squad World Cup 2022 / via Selección Española de Fútbol (SeFutbol)

Reuters

Guardiola: “There’s no chance I will rest players ahead of the World Cup”

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Guardiola: "There's no chance I will rest players ahead of the World Cup"

Guardiola: “There’s no chance I will rest players ahead of the World Cup”

SATURDAY, NOVEMBER 12, 2022

THE NATION

Manchester City manager Pep Guardiola was unequivocal when asked on Friday whether he would consider resting any players ahead of the World Cup.

Reports state that some national football associations have asked clubs to rest their players in the final round of league games.
 

But Guardiola said that there is no way he would consider this.

“Absolutely we’re not going to rest players for the national team. Absolutely not,” he said.

“I advise don’t call me. Don’t call me.”

“I’m going to stay 24 hours with my wife, 24 hours with my kids. 24 hours – my kids doesn’t like to be 24 hours with me. My wife, yeah my wife is, me too, looking forward to be with her because she’s living in Barcelona and after that go into a few days Barcelona my dad, family and yeah relax, see World Cup games on TV and see our games talk with my staff by phone and take a little bit break and, fourth, fifth (of December)? Start again, no? Fifth, come back here and restart.”
 

Journalist : could see yourself staying at another club for as long as seven years?

“Stay another place seven years? No, I don’t think so. It’s difficult to find, I said many times it’s difficult to find what I have here as a manager. This is the fact that, to be manager a long time, you have to be so supportive. The results help a lot is undeniable. Otherwise, you know in this world, they sack you, they fire you. We know that.” Pep add.

THE NATION