Thai Press Reports articles from May 2011

Thai Press Reports archives from May 2011

Philippines: BIR October 2010 collection performance.
May 2, 2011... Section: Business News - The month of October proved to be another month of noteworthy achievements for the Bureau of Internal Revenue. Records of the Bureau's collection offices show that the revenue service was able to generate P63.564...

Philippines: S/CVP statement on October 2010 fiscal performance.
May 2, 2011... Section: Economy - The National Government posted a deficit of P10.5 billion in October 2010 significantly lower than the programmed P19.1 billion for the month as revenue collections increased by 15.1 percent year-on-year. Both cash and...

Philippines: End-November 2010 GIR climbs to all-time high of US$61.3 billion.
May 2, 2011... Section: Economy - Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed that the country's gross international reserves rose to an all-time high of US$61.3 billion as of end-November 2010, higher by US$4.1 billion than the previous...

Philippines: November inflation rises slightly to 3.0 percent.
May 2, 2011... Section: Economy - Headline inflation rose slightly to 3.0 percent year-on-year in November from 2.8 percent in October. The resulting year-to-date average inflation rate of 3.8 percent remained within the Government's target range of 3.5-5.5...

Philippines: Inflation rate within 2010 target; Price changes in food, clothing eased in November.
May 2, 2011... Section: Economy - Headline inflation rate in November continued to be stable, as price increases of food and clothing eased, according to the National Economic and Development Authority. Although the rate of change in prices of major...

Philippines: NEDA highlights new government initiatives in strengthening public-private.
May 2, 2011... Section: Economy - The National Economic and Development Authority (NEDA) emphasized to private sector investors the importance of new government efforts in improving Public-Private Partnerships and promoting efficiency and transparency in...

Philippines: Foreign direct investments post net inflows in September.(Financial report)
May 2, 2011... Section: Economy - Foreign direct investments (FDI) sustained net inflows in September 2010 at US$66 million, a turnaround from the US$54 million net outflow recorded in the same month a year ago. The net inflows during the month were mainly...

Philippines: DOF reiterates opposition to VAST.
May 2, 2011... Section: Economy - On December 7, 2010, the Committee on Ways and Means of the Lower House of Congress approved House Bill No. 1970. HB 1970 proposes to replace the current 12% Value-added tax (VAT) with a 6% Value Simplified Tax (VAST). The...

Philippines: October exports increase by 26.4%, highest in ASEAN.
May 2, 2011... Section: Economy - Total earnings of exports amounted to US$4.74 billion in October 2010, which is 26.4 percent higher than last year's level. This is the highest export growth in Southeast Asia in October this year, according to the National...

Philippines: Best sovereign bond, best Philippines deal.
May 2, 2011... Section: Economy - Republic of the Philippines' Ps44.1 billion ($1 billion) peso global bond Bookrunners: Citi, Credit Suisse, Deutsche Bank, HSBC, J.P. Morgan, Goldman Sachs Legal advisors: Cleary Gottlieb, Romulo Few deals have shaped a...

Philippines: Philippines completes largest bond exchange program and first-ever swap for longest tenor 25-year benchmark bonds.
May 2, 2011... Section: Economy - Treasurer of the Philippines Roberto Tan today announced that the Republic of the Philippines will issue P33.5 billion worth of 10-year Treasury bonds due 2020 and P166.2 billion worth of 25-year Treasury bonds due 2035 on...

Philippines: OF remittances reach record level in October; first ten months' total at US$15.5 billion.
May 2, 2011... Section: Economy - Remittances from overseas Filipinos (OFs) coursed through banks grew by 9.3 percent in October 2010 to reach US$1.7 billion, the highest monthly level posted during the year, BSP Governor Amando M. Tetangco, Jr., announced...

Philippines: BIR collects Php82 billion for November.
May 2, 2011... Section: Economy - Records from the Bureau show that tax collections generated in November reached Php82.43 billion, the second highest monthly performance achieved next to the Php91.16 billion collected last April. The monthly trend, or how...

Philippines: Foreign portfolio investments sustain net inflow in November 2010.
May 2, 2011... Section: Economy - Transactions in foreign portfolio investments for the month of November 2010 yielded a net inflow of US$1.7 billion, up by 65.3 percent from the US$1.0 billion net inflow in October 2010 and 24 times the US$73 million level a...

Philippines: U/KBs' NPL ratio stands at 3.20 percent in October.
May 2, 2011... Section: Economy - As of end-October 2010, the non-performing loans (NPL) ratio of universal and commercial banks (U/KBs) stood at 3.20 percent. This is higher by 0.09 percentage point than last month's 3.11 percent but an improvement by 0.17...

Philippines: Exposure to real estate of U/KBs & TBs reaches P415.6 billion in 3rd quarter.
May 2, 2011... Section: Economy - As of end-September 2010, the combined exposure of universal and commercial banks (U/KBs) and thrift banks (TBs) to the real estate sector increased by 1.4 percent to P415.6 billion from last quarter's P410.0 billion and by...

Philippines: Monetary Board (MB) of the Bangko Sentral ng Pilipinas (BSP) approved the amendments to credit card regulations.
May 2, 2011... Section: Economy - The Monetary Board (MB) recently approved amendments to credit card regulations aimed at enhancing consumer protection and fostering better transparency. Under the new guidelines, issuance of pre-approved cards will no...

Philippines: Purisima says two surplus months in 5 months reverses primary deficit.
May 2, 2011... Section: Economy - The National Government continued to demonstrate its resolve to maintain fiscal discipline when it posted a surplus of P482 million in November - the 2nd surplus month of the 5-month old Aquino Administration - on the back of...

Philippines: Third quarter 2010 BOP surplus rises; nine-months' level at US$6.5 billion.
May 2, 2011... Section: Economy - The balance of payments (BOP) surplus stood at US$3.3 billion in Q3 2010, almost 50 percent higher than the US$2.2 billion surplus registered in the comparable quarter a year ago. The favorable external payments position was...

Philippines: Debt ratios remain at prudent levels even as external debt rises in third quarter.
May 2, 2011... Section: Economy - Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr. reported that the country's outstanding external debt approved/registered by the BSP stood at US$59.8 billion as of end-September 2010, reflecting an increase...

Philippines: Monetary board keeps policy rates steady.
May 2, 2011... Section: Economy - At its meeting today, the Monetary Board decided to maintain the BSP's key policy interest rates at 4 percent for the overnight borrowing or reverse repurchase (RRP) facility and 6 percent for the overnight lending or...

Philippines: FCDU loans slightly rise in third quarter.
May 2, 2011... Section: Economy - As of end-September 2010, outstanding loans granted by Foreign Currency Deposit Units (FCDUs) of banks amounted to US$5.2 billion, reflecting an increase of US$68 million (or 1.3 percent) from the end-June 2010 level of US$5.1...

Philippines: Moody's changes outlook on Philippines' Ba3 foreign and local-currency bond ratings to positive from stable: Proof of confidence in resilience of Philippine economy.
May 2, 2011... Section: Economy - Moody's Investors Service today changed the outlook on the Government of the Philippines' Ba3 foreign and local-currency bond ratings to positive from stable. Commenting on the change in outlook of the Philippines'...

Philippines: Statement of Finance Secretary Cesar Purisima on Moody's change in outlook on Philippines' Ba3 foreign and local-currency bond ratings to positive from stable.
May 2, 2011... Section: Economy - Moody's Investors Service today changed the outlook on the Government of the Philippines' Ba3 foreign and local-currency bond ratings to positive from stable. A positive outlook means that a rating may be raised. Commenting...

Philippines: DBM to release 100% of agency allotments for first time.
May 2, 2011... Section: Economy - The Department of Budget and Management (DBM) has established new budget execution rules that make available 100% of 2011 agency allotments. Dapat lang na sa pagpapatupad ng Reform Budget ay may reporma (Having a Reform...

Philippines: It's 'business as usual' for Philippine exporters amid US GSP renewal.
May 2, 2011... Section: Business News - It is business as usual for Philippine exporters enjoying privileges under the US Generalized System of Preference (GSP) as efforts are ongoing to renew the GSP status this year. Philippine exporters can continue...

Philippines: Customs seizes undervalued liquor and misdeclared garments.
May 2, 2011... Section: Business News - 1) Another set of smugglers learned the hard way that smuggling no longer pays following the seizure today by the Bureau of Customs of some P30 million worth of undervalued and prohibited articles at the Manila...

Philippines: Customs files P1.3 B smuggling case vs steel importer.
May 2, 2011... Section: Business News - 1) Another major importer of steel products has joined the list of industry players who have learned the hard way that smuggling under the Administration of President Aquino is no longer profitable. 2) The ax this...

Philippines: Dr Castillo & Estate of Escoto.
May 2, 2011... Section: Business News - A couple who are both medical doctors were added to the tax evasion roll after the Bureau of Internal Revenue (BIR) today filed with the Department of Justice (DOJ) a criminal complaint for committing unlawful acts...

Philippines: New business name registration fees favor micro and small enterprises.
May 2, 2011... Section: Business News - Starting 03 January 2011, the Department of Trade and Industry (DTI), through the approval of the National Economic and Development Authority (NEDA), implements the new Business Name (BN) registration fees according to...

Philippines: Alvarez orders reform in customs bonds administration.
May 2, 2011... Section: Business News - 1) Customs Commissioner Angelito Alvarez vowed to implement drastic reforms in the administration of customs bonds in a bid to plug a major leak in the agency's revenue generation machinery. 2) Alvarez said the result...

Philippines: NEDA RDCom-Mindanao selects new reps.
May 2, 2011... Section: Economy - The Regional Development Committee (RDCom) in Mindanao of the National Economic and Development Authority (NEDA) has recently appointed new representatives for 2010 to 2013. Davao City Mayor Sara Z. Duterte was chosen as...

Philippines: Annual GDP sizzled to its highest growth rate in post Marcos era at 7.3 percent; Q4 2010 GDP grew by 7.1 percent.
May 2, 2011... Section: Economy - Despite the El Nino and the diminished government spending during the second semester, the domestic economy sizzled to its highest annual GDP growth in the post Marcos era of 7.3 percent in 2010 from 1.1 percent in 2009. The...

Philippines: Philippine economic managers encourage Japanese investors to take advantage of the Philippines positive growth momentum and invest in the country.
May 2, 2011... Section: Business News - The Philippines will continue its growth momentum this year as it tries to boost spending and investments on infrastructure, senior Philippine government officials said today. The government officials were composed of...

Philippines: Preliminary figures show deficit-to-GDP improved to 3.6% in 2010.
May 2, 2011... Section: Economy - Budget and Management Secretary Florencio B. Abad today announced that the Philippines is on the straight path towards achieving fiscal sustainability, with indications showing that the target of reducing the deficit to two...

Philippines: Customs seizes P140 M counterfeit goods.
May 2, 2011... Section: Business News - 1) Keeping faith with its commitment to protect intellectual property rights, the newly-created Intellectual Property Rights Division (IPRD-CIIS) of the Bureau of Customs seized today three (3) forty-foot containers...

Philippines: With summer approaching, Phil-Jobnet vacancies top 60,000.
May 2, 2011... Section: Business News - Labor and Employment Secretary Rosalinda Dimapilis-Baldoz yesterdat noted that job vacancies posted in the Phil-Jobnet system, the Philippines's main jobs portal in the Internet, had topped the 60,000 mark as of February...

Philippines: Customs sues boneless buffalo meat importer.
May 2, 2011... Section: Business News - 1) The butcher's ax fell on a major supplier of boneless buffalo meat from India after it was sued by the Bureau of Customs for gross undervaluation after it was found to have declared a per kilogram value of as low as...

Philippines: Government to align policies for growth target support.
May 2, 2011... Section: Economy - The National Economic and Development Authority (NEDA) assures Filipinos that the government will formulate appropriate policies in order to achieve its growth target over the next six years. We would like to see a growth...

Philippines: JP Morgan keynote address of Sec Cesar Purisima.
May 2, 2011... Section: Business News - Someone once told me that fund managers are normally young. And they tend to be too young to have experience from the previous crisis so they tend to be bullish and they also tend to panic quickly. So I start my talk...

Philippines: Shell to supply lubricants for power barges.
May 2, 2011... Section: Business News - Pilipinas Shell Petroleum Corp. will supply the 2011 engine-lubricating oil (ELO) requirements of the power barges of the Power Sector Assets and Liabilities Management (PSALM) Corporation. In simple ceremonies held...

Philippines: Business outlook continues to be bullish.(Survey)
May 2, 2011... Section: Business News - Business optimism continued to be strong in Q1 2011, with the overall confidence index (CI) at 47.5 percent. The confidence index is computed as the percentage of firms that answered in the affirmative less the...

Philippines: February inflation at 4.3 percent.
May 2, 2011... Section: Economy - The year-on-year headline inflation rose to 4.3 percent in February from the January level of 3.6 percent (revised). The year-to-date average of 3.9 percent remained within the Government's target range of 3-5 percent for...

Philippines: BIR allows optional filing of Annual Information Return for TY 2010.
May 2, 2011... Section: Business News - In what was considered as a deft and very considerate turn-around, taxpayers today welcomed the decision of the Bureau of Internal Revenue (BIR) to allow the filing of the Annual Information Return (AIR) or BIR Form No....

Philippines: BSP rediscount rates for March 2011.
May 2, 2011... Section: Business News - The BSP announced today the rediscount rates applicable on loan availments by banking institutions for the month of March 2011. For loans under the Peso Rediscount Facility, the BSP Peso Rediscount Rate is still at...

Philippines: Statement of Philippine Finance Secretary on January 2011 fiscal performance.
May 2, 2011... Section: Business News - I am pleased to report that the National Government posted a surplus of P13.4 billion in January this year on the back of much improved revenue collections and the P24 billion remittances of government-owned and...

Philippines: Customs collector in Mindanao flunks lifestyle check.
May 2, 2011... Section: Business News - The Revenue Integrity Protection Service (RIPS) of the Department of Finance filed today corresponding criminal and administrative charges with the Office of the Ombudsman against Lowell Lomuljo Medija, Customs Collector...

Philippines: BIR exceeds target for first month of 2011.
May 2, 2011... Section: Business News - The Bureau of Internal Revenue generated a total of Php 74.57 billion in tax revenues the first month of the year, or January 2011. This figure surpassed the month's target of Php 71.97 billion by Php 2.59 billion or by...

Philippines: PSALM to reduce obligations to USD3.78B by 2026.
May 2, 2011... Section: Business News - The Power Sector Assets and Liabilities Management (PSALM) Corporation expects to significantly reduce its financial obligations to USD3.78 billion by 2026 when it factors in all payments from the privatization of the...

Philippines: Philippines issues US$1.5 billion SEC-registered Global Bonds.
May 2, 2011... Section: Business News - The Republic of the Philippines (the Republic) successfully accessed the international capital markets with its offering of US$1.5 billion 15-year U.S. SEC-registered Global Bonds. The newly issued bonds, which were...

Philippines: Suspension of customs employees and brokers with criminal complaints ordered.
May 2, 2011... Section: Business News - 1) Customs Commissioner Angelito Alvarez has ordered the preventive suspension of customs employees who have been named respondents in smuggling and other criminal complaints. 2) The customs chief also directed the...

Philippines: BIR 'confident' on meeting highest monthly collection goal.
May 2, 2011... Section: Business News - Banking on its tax administration efforts, the Bureau of Internal Revenue (BIR) is confident on meeting its goal this month as income tax return filers are expected to help the agency meet its highest collection goal for...

Philippines: Statement of Finance Secretary Cesar V. Purisima on February 2011 fiscal performance.
May 2, 2011... Section: Business News - The National Government (NG) posted a deficit of P21.5 billion in February lower than the P33.3 billion program for the month and the P33.2 billion incurred in the same month last year. This brings the deficit level for...

Philippines: Pichay, four others sued over P400-million LWUA fund misuse.
May 2, 2011... Section: Business News - The run after erring GOCC officials continue as the Finance department lodged separate complaints against officials of the Local Water Utilities Administration (LWUA). Criminal and administrative charges have been...

Philippines: Ombudsman suspends BIR and BOC officers for gross amassed wealth.
May 2, 2011... Section: Economy - On April 1, 2011, the Office of the Ombudsman ordered the six-month preventive suspension of two public officials, in separate cases, but both arising from an investigation conducted by the Revenue Integrity Protection Service...

Philippines: Economic managers woo Chinese investors to PPP.
May 2, 2011... Section: Business News - he Philippines will be luring Chinese investors in the second leg of its series of road shows to trumpet its public-private partnership (PPP) initiative as officials stressed that lessons have been learned from previous...

Thailand: Alcohol consumption to be banned at work in factories.
May 2, 2011... Section: General News - The Ministry of Public Health is preparing to impose a ban on sales and consumption of alcoholic beverages in factory premises during operational hours. According to Public Health Minister Jurin Laksanawisit, the...

Thailand: Bank of Thailand says Thai economy to grow by 4.1%.
May 2, 2011... Section: Economy - The Thai economy this year is anticipated to expand by 4.1% due to continuous global economic expansion and higher demand in the private sector, according to the Bank of Thailand (BoT). BoT Assistant Governor for Monetary...

Thailand: 2011 Thai export to expand at 15%.
May 2, 2011... Section: Business News - The Department of Export Promotion (DEP) expects exports in 2011 are likely to grow at 15% as a consequence of the global economic recovery and rising popularity for Thai products in the global market. According to...

Thailand: Overnight clashes result in death of 1 Thai soldier.
May 2, 2011... Section: General News - Despite yesterday's cease fire agreement between the regional field commanders of Thailand and Cambodia, fighting between the two countries continued last night around the Ta Moan Thom and Ta Kwai temples. The clashes...

Thailand: The Bottom Blues to represent Thailand at Asian Music Festival.
May 2, 2011... Section: General News - Following the success of its debut album, boy band The Bottom Blues performed a mini-concert in response to huge demand from its fans. After releasing its first debut album and receiving very good response, boy band...

Thailand: Energy Ministry to replace B2 with B3 in May.
May 2, 2011... Section: General News - The Energy Ministry has announced that starting in May, biodiesel B2 will be replaced by the B3 formula, as palm oil supply has returned to normal. The ministry also expects to be able to implement the B5 formula...

Thailand: Private Sector supports gradual price hike of LPG.
May 2, 2011... Section: Business News - The private sector is supporting the government's decision to hike LPG gas prices for industrial purposes this July, as industries will have time to adapt to the adjustments. However, it has opposed the free...

Thailand: Thai 'Jack the Ripper' gets life in prison.
May 2, 2011... Section: General News - The Criminal Court has handed a death sentence to Somkid Pumpuang, a serial killer who has been infamously known as the Thai 'Jack the Ripper'. However, his sentence was later reduced to life in prison as Somkid...

Thailand: Finance Ministry to propose establishment of communal financial development office.
May 2, 2011... Section: Business News - The Finance Ministry is pressing ahead with its plan to increase the license plate tax for LPG-powered vehicles in an effort to reduce LPG consumption and need to import. The ministry is also looking to submit a...

Thailand/Cambodia: FTI says Thai-Cambodian conflict have minimal effects on economic conditions.
May 2, 2011... Section: Business News - The Federation of Thai Industries says the fighting at theThai-Cambodian border has not had a major impact on the Thai economy as a whole. The Federation of Thai Industries or FTI Chairman Tanit Sorat said the...

Thailand: Government Whip says Abhisit-led admin passed 52 laws passed in 15 months.
May 2, 2011... Section: Government & Politics - The government whip claims the Abhisit-led administration has done a good job regarding the deliberation of important bills. As many as 50 laws have been approved over its 15-month tenure. Government...

Thailand/Cambodia: Gunfire continues despite confirmed ceasefire order.
May 2, 2011... Section: General News - The Cambodian defense minister has issued a ceasefire order to his troops at the Thai-Cambodian border. However, gunfire was still heard this morning from the border in Surin Province, causing further unease for local...

Indonesia: Indonesian observers to arrive after Cambodia removes troops.
May 2, 2011... Section: General News - The Thai Foreign Ministry says Indonesia is ready to send their observation team to the Thai-Cambodian border as soon as Cambodia removes its troops from the disputed area. Foreign Minister Kasit Piromya gave a phone...

Thailand: DSI provides evidence of lese majeste to revoke bail of red-shirt leaders.
May 2, 2011... Section: Business News - The Department of Special Investigation has submitted more evidence to revoke the bail of nine red-shirt members over a lese majeste charge. Police Lieutenant General Thawan Mangkhang, as the director of the special...

Thailand: Bank of Thailand maintains GDP growth forecast at 4 to 5 percent.
May 2, 2011... Section: Economy - The Finance Ministry and the BOT has maintained estimates of Thai GDP growth for this year at 4 to 5 percent. The Director of the Fiscal Policy Office or FPO's Macroeconoic Policy Bureau Boonchai Charassangsomboon said the...

Thailand: Bhumjaithai Party confident about securing 70 seats.
May 2, 2011... Section: Government & Politics - The Bhumjaithai Party has said it is convinced it will win at least 70 seats in the upcoming poll. Bhumjaithai Party MP President, Prachak Kaeoklahan says he believes his party and the Chart Thai Pattana...

Thailand/Cambodia: Army Chief says Cambodia calling for international attention.
May 2, 2011... Section: General News - The army chief believes Cambodia is trying to intensify the conflict in order to attract attention from the international community. Army Chief General Prayuth Chan-ocha said that there is still sporadic fighting along...

Thailand: Fighting ensues at border despite ceasefire agreement.
May 2, 2011... Section: General News - The Cambodian media has reported that the representatives of the Thai and Cambodian military have reached a ceasefire agreement. However, the Chong Jom-O'Smach Border Crossing in Surin Province remains closed as...

Thailand: No more flights at Don Muang Airport after 2015.
May 2, 2011... Section: General News - The Transport Ministry has received the master infrastructure development plan for Suvarnabhumi Airport. It suggests the discontinuation of Don Muang Airport in 2015. Permanent-Secretary for Transport Supoj Saplom...

United States: Obama says will do everything we can for tornado victims.
May 2, 2011... Section: General News - At an event to introduce his new national security team, U.S. President Barack Obama speaks of the "heartbreaking" loss of life, after powerful tornadoes ripped through the southeastern United States, killing nearly 300...

United Kingdom: Cheers as Kate Middleton arrives at London Hotel.
May 2, 2011... Section: General News - Crowds cheer as Kate Middleton arrives under heavy security at a London hotel for her last night as a single woman and a commoner. Bride-to-be Kate Middleton arrived at the London hotel where she is to spend her last...

United Kingdom: New Photo of William and Kate released.
May 2, 2011... Section: General News - New photo of Prince William and Kate Middleton, by famed photographer Mario Testino, revealed in official royal wedding programme, is now available for download. The official royal wedding programme is out for the...

United Kingdom: Prince Charles welcomes Australian, New Zealand PMs.
May 2, 2011... Section: General News - Foreign dignitaries fly in from around the world as Prince Charles welcomes Australian and New Zealand prime ministers for royal wedding in London. Prince Charles on Thursday welcomed the prime ministers of New Zealand...

United Kingdom: Queen hosts banquet ahead of royal wedding.
May 2, 2011... Section: General News - The wait is nearly over as the Queen entertains guests in a gala dinner and the British royal wedding dawns. Prince Charles led the guest list in a dinner hosted by his mother, Queen Elizabeth 2 on Thursday, for those...

Syria/Jordan: Main Syria-Jordan border point reopens.
May 2, 2011... Section: General News - The main border crossing point between Jordan and Syria reopened on Thursday, after it was closed three days ago. Officials said on Monday that Syria had closed all its land border crossings with neighboring Jordan,...

Thailand: House Speaker sure House to be dissolved as planned.
May 2, 2011... Section: Government & Politics - The House speaker is confident that the prime minister will dissolve the House by May 6 as he has earlier announced. House Speaker Chai Chidchob confirms that there will be House dissolution in the first...

Thailand: Soap opera condemned for aggressive content.
May 2, 2011... Section: General News - A popular soap opera has been strongly criticized for its aggressive content with parents filing complaints with the Culture Ministry. However, the show's producer has called on all sides to be more open to the series...

Thailand: Industry Council holds GDP growth forecast at 4-4.5%.
May 2, 2011... Section: Business News - The Federation of Thai Industries expects this year's GDP to grow at a range of four to 4.5 percent as projected. Vice chairman of the Federation of Thai Industries, or FTI, Tanit Sorat, said the continuing increase...