Thailand Financial News

Project mBridge may soon see significant expansion, according to Hong Kong Monetary Authority (HKMA) CEO Eddie Yue. He outlined the plans for the central bank digital currency (CBDC) project in a speech in Shanghai.

Hong Kong regulators are looking to tighten the noose around the crypto market after arresting six individuals following allegations of fraud around an unlicensed crypto exchange, JPEX. The government intends to increase its efforts to inform investors and remind them only to utilize platforms granted Securities and Futures Commission licenses. 

Top Thai officials have welcomed hundreds of Chinese tourists at Bangkok’s international airport on the first day of a new visa-free entry program that officials say will boost tourism

Speaking about the upcoming Hong Kong Wine & Dine Festival, Mr. Puneet Kumar, Director – South Asia and Middle East, Hong Kong Tourism Board said, “As young and affluent Indian travellers seek immersive holidays, Hong Kong is ready to captivate their senses with global culinary experiences set against its iconic skyline. The return of the Hong Kong Wine & Dine Festival, after a five-year hiatus, marks a momentous occasion in our culinary calendar. It's not just an event; it's a celebration of our rich gastronomic heritage and global flavors. It's an invitation to indulge in the vibrant spirit of the city’s gastronomy and nightlife. We are excited to welcome our international visitors to savor the world's finest flavors, create unforgettable memories and Discover Hong Kong like never before."It’s back: Hong Kong Wine & Dine Festival returns in physical formatTaking place from 26–29 October at Victoria Harbour’s Central Harbourfront Event Space, Hong Kong Wine & Dine Festival 2023 will be a four-day gourmet extravaganza backdropped by the iconic city skyline.

India's limited participation in global value chains (GVCs) hampers its export potential, despite possessing substantial manufacturing capabilities across various GVC-relevant product categories. The integration of Indian companies in the GVCs is fundamental as about 70 per cent of global trade operates within these chains, encompassing a wide range of products, from electronics and machinery to pharmaceuticals and apparel. «India's weak GVC integration can be attributed to poor trade infrastructure, causing delays at ports and customs, which are detrimental to the timely flow of goods in these intricate value chains,» GTRi Co-Founder Ajay Srivastava said. Countries like China, Japan, South Korea, Thailand, and Malaysia have excelled in GVCs due to investments in quality trade infrastructure. The GTRI report has recommended six action points to the government which can help boost the participation of domestic firms in GVCs. The suggestions include automating port and customs procedures, and implementation of green channel clearances for 99 per cent of shipments; analysing the top 10,000 exporters responsible for 85 per cent of India's exports; matching global best practices for ship turnaround times, reducing queues, speeding up transactions, and optimizing infrastructure use; and enhance communication between traders and shipping companies, port operators, and Container Freight Stations (CFS). The report asked for creation of an online platform for all export-import compliance processes. «National Trade Network (NTN) would enable exporters to submit all required information and documents in one place, eliminating the need to interact separately with customs, DGFT (directorate general of foreign trade), shipping

Manika Batra lost both her matches, including the deciding fifth singles, as the Indian women's table tennis team was eliminated from the Asian Games following their 2-3 defeat against Thailand in the pre-quarterfinals on Sunday. World No. 39 Batra first lost the opening match to 104th ranked Thai player Orawan Paranang 0-3 with the Thai player dominating the proceeding for a 11-7, 11-1, 13-11 win in just 25 minutes. But 26-year-old Ayhika Mukherjee brought India on an even keel, winning the second game 3-1, defeating a much higher-ranked Suthasini Sawettabut 18-16, 11-7, 13-15, 11-9. Sutirtha Mukherjee then defeated Tamolwan Khetkhuan 3-2 (11-1, 9-11, 3-11, 11-7, 11-7) to give India a 2-1 lead before Paranang overcame a gritty Ayhika 3-2 (10-12, 11-4, 5-11, 11-4, 11-3) to keep her team's team's hopes alive. In the decider, Suthasini made up for her earlier defeat by beating Batra 3-1 (10-12, 11-8, 11-7, 11-6) to take her team into the quarterfinals.

Thailand's Prime Minister Srettha Thavisin said on Sunday the country expected to receive investment of at least $5 billion from Tesla, Google and Microsoft. «Tesla would be looking into an EV manufacturing facility, Microsoft and Google are looking at data centres,» he said, without detailing whether the $5 billion was expected to be a combined investment or made individually by each company.

Mint is now on WhatsApp Channels :rocket: Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! Esports enthusiasts can tune in at 8 AM to watch Charanjot Singh and Karman Singh Tikka compete in the FC Online Round of 32. The sailing and rowing events will continue from 8:20 AM and 8:30 AM, respectively, with multiple athletes in action. In hockey, India will be playing against Uzbekistan at 8:45 AM.

MotoGP descends to Greater Noida for the inaugural Indian Grand Prix. The world’s fastest and most high-profile motorcycle racing championship will stage the 13th round of its 2023 edition in India, just a year after plans for MotoGP Bharat were first announced. The addition of India to the calendar is part of MotoGP’s expansion plans into Asia’s major two-wheeler markets.

MotoGP Bharat 2023: When and where to watch MotoGP in India, ticket details and more The Grand Prix of India features 82 riders from 41 teams vying for top honours in MotoGP, Moto 2 and Moto 3 over the course of three days. A MotoGP statement informing about the shortening of laps said, “The inaugural IndianOil Grand Prix of India is now well underway and has already set the scene for some incredible competition this weekend, with just 0.008s deciding the fastest rider on Friday." “Now, after gaining a first full day of experience in the hot and humid conditions – both of which are forecast to continue – riders have asked for race distances to be adjusted." the statement “Following their feedback and that of official tyre suppliers, one lap will therefore be taken off the Tissot Sprint, Moto2™ and Moto3™ races, and the MotoGP™ Grand Prix race will be shortened by three laps." MotoGP further noted.

race has been shortened by three laps after MotoGP riders asked for race distances to be adjusted due to hot and humid conditions during practice sessions, organisers said on Saturday. Sunday's race will now feature 21 laps instead of the planned 24, while the sprint race scheduled for later on Saturday has also been cut short by one lap and will take place over 11 laps at the Buddh International Circuit. After Friday's two practice sessions, reigning champion Francesco Bagnaia said the conditions were «very demanding». «I've never felt heat like this,» he told MotoGP's website. «I thought Malaysia and Thailand were hot but here you feel like you're burning in some parts of the track.» The qualifying session will be held later on Saturday.

Canada. A dossier put together by Indian intelligence agencies claims that he became the head of the Sikh temple by threatening his own cousin and the temple’s former president Raghbir Singh Nijjar. Nijjar, the dossier adds, was an old associate of Khalistan Commando Force (KCF) terrorist Gurdeep Singh aka Deepa Heranwala, who was involved in over 200 killings in Punjab in the late 1980s and early 1990s.

BANGKOK (Reuters) — Thailand's central bank is monitoring the weak baht, which is not entirely bad for the economy and could help the key export and tourism sectors, the prime minister said in remarks aired on Thursday, as the baht hit multi-month lows.

India has won the bid to host the International Congress on the Chemistry of Cement (ICCC) here in 2027, where global leaders, academicians, and professionals would deliberate on progress of research in this sector, an official statement said.

Ngor won an Academy Award for Best Supporting Actor for his role in his debut film, 'The Killing Fields'. With his role in the 1984 historical drama based on the genocide committed by the Pol Pot regime in Cambodia, Ngor became the first Asian-American to win in the category. Haing S Ngor's life came to an end on February 25, 1996, when he was killed outside his Los Angeles home. Initially, it appeared to be a botched-up robbery, but more details eventually emerged suggesting the possibility of shadowy forces behind the scene.

BANGKOK (Reuters) — Thailand's new government plans to borrow about 2.4 trillion baht ($66.4 billion) for the fiscal year 2024 starting Oct. 1, up about 9% from the current year, according to market sources briefed by the finance ministry.

China's economic slowdown has rippled through Asia. Tourists aren't flocking to Thai beaches or Singaporean malls in the numbers anticipated. Factories are struggling, and there are questions about whether Beijing can bankroll public works in the manner to which the neighborhood has become accustomed. One glaring omission from the list of spillovers: interest-rate cuts. Despite the country's heft, China's travails aren't translating into easing in its backyard.

Thailand would soon tax foreign earnings from crypto traders, a tighter measure to close the loophole, which allowed overseas income into the country tax-free.

By Rodrigo Campos

Thailand’s Revenue Department is planning to impose personal income tax on the foreign revenues, including those made from crypto trading, of any person who resides in Thailand for more than 180 days. 

By Devjyot Ghoshal and Stefanno Sulaiman