Interbank foreign exchange

Foreign investors in Thailand have long decried the onerous, complex, and sometimes downright baffling, bureaucracy that comes with doing business in the Land of Smiles. And it appears officials in Bangkok are finally sitting up and taking notice. Nation Thailand reports that, in an effort to stimulate the ailing economy, the government plans to make some changes to the regulations that govern foreign business and immigration. It’s understood the changes will apply to excise tax, foreign employees, city planning, the movie and video industry, biodiversity, and the energy sector, including alternative energy. It’s hoped 85% of the changes can be implemented under the government’s “regulatory guillotine” scheme in the coming year. The plans are being spearheaded by the Public Sector Development Commission, in an effort to tackle the high costs of compliance faced by both businesses and consumers, which is around 142 billion baht a year. The Thailand Development Research Institute says ... » Learn More about Thai government plans to amend business, immigration rules, for foreign investors

The Bank of Thailand has issued a sombre warning that the ongoing ban on foreign tourists returning to Thailand may have an even worse impact next year. Don Nakornthab, from the BOT’s economic and policy department, says if international tourists are not allowed back into the country soon, Thailand’s tourism industry will face even bigger threats next year. A report in the Bangkok Post says both the Tourism and Sports Ministry and the National Economic and Social Development Council have already reduced their forecasts of foreign tourists this year to 6.7 million (the vast majority of that number arriving in Q1, 2020) and 12 million for 2021. To put that in context, in 2019, Thailand welcomed nearly 40 million international tourists, with the resulting revenue accounting for nearly 20% of the total Thai GDP. The month of July was the fourth consecutive month in which Thailand received no foreign tourists. The borders remain largely sealed, while discussions about how to open ... » Learn More about Bank of Thailand issues stark warning over ongoing ban on foreign tourists

TO mark its first decade in the industry, online English education platform 51Talk held its 10 Years Certified Conference 2021 in Beijing, China to update its stakeholders about its education innovation initiatives and future plans to enhance the user experience of teachers and students alike. In the Philippines, the 51Talk platform is used by a community of 30,000 online English teachers who earn in the safety and comfort of their own homes, which is considered a boon to livelihood seekers throughout the pandemic. In his keynote address, 51Talk Founder and Chief Executive Officer Jack Huang emphasized the important role of Filipino teachers in delivering high-quality online English lessons to students. Now, there are 30,000 Filipino teachers who are with 51Talk. “During the past decade, Filipino teachers have risen to become one of the most popular foreign teaching groups in China. As the online education industry matures, Filipino teachers are expected to play a bigger role in ... » Learn More about 51Talk marks its 10th year

IMF chief Kristalina Georgieva said Thursday (Friday in Manila) she is confident the United States will soon reach an agreement to provide another cash infusion to the ailing economy. “Let’s see how quickly it would be deployed, but I have no doubt it will be deployed, because it is necessary before the end of the year,” Georgieva said during a debate on the global economy. The comments came amid the persistent gridlock in Washington between President Donald Trump and Democratic leaders over how much to spend and where to direct resources to boost the world’s largest economy. Treasury Secreatary Steven Mnuchin said again Thursday that a deal is unlikely before the November 3 presidential election, but that negotiations would continue with House Speaker Nancy Pelosi. The stakes are high, with implications both for the global economy and millions of Americans facing job losses and bankruptcy. As the pandemic took hold, the US Congress in late March passed a $2.2 trillion rescue ... » Learn More about US to impose more stimulus soon – IMF

TOKYO: Equities mostly rose as investors struggled for traction in Asia on Wednesday following a tepid lead from Wall Street, with hopes for another vast US virus relief package offset by political upheaval in Washington and surging virus cases. Risk sentiment was given a vital boost Tuesday when several top Federal Reserve officials played down the chances the central bank will begin winding down its bond-buying easy-money policy anytime soon, despite expectations of higher inflation caused by a new stimulus. Democrats are pushing ahead with impeachment proceedings against Donald Trump, who is accused of inciting last week’s storming of the Capitol Building, though there are concerns of further unrest leading up to Joe Biden’s January 20 inauguration. Trump warned of “tremendous anger” across the country. There is a worry that such a move could overshadow the new president’s first few months in office, distracting him from his goal of pushing through a third rescue package for ... » Learn More about Asian markets rise on stimulus hopes

Once, a friend asked me, “How can you stay so hopeful about our country, despite everything?” That friend knew how much harassment I have faced over the years for expressing my political conscience. She also knew how I have obsessively papered over the disastrous blunders and inimitable shenanigans of our political leaders through the years. My answer is this: I believe in the Filipino people. I feel indebted to our national heroes such as Jose Rizal, and I know that we still have leaders whose political lives are centered on conviction rather than on the blind pursuit of power. One of them, without a doubt, is Sen. Risa Hontiveros, one of the bravest and most sincere souls to have made it to our highest chamber. It’s precisely progressive leaders like her, undaunted in the face of peril and unforgivable calumny, that should give us hope about the future of our country. From a tender age, I was at once fascinated and repelled by politics. On the one hand, I couldn’t shake off the ... » Learn More about Risa Hontiveros: The politics of conviction

BEIJING: China’s garment industry reported continued recovery in the first two months of the year, official data showed. From January to February, major Chinese garment enterprises saw their combined output rise 38.4 percent from a year ago to 3.4 billion pieces, the Ministry of Industry and Information Technology said. During the period, the combined operating revenue of 12,438 major garment firms amounted to 179.2 billion yuan (about 27.4 billion US dollars), up 21.4 percent year on year. Total profits jumped 42.8 percent from a year ago to 7.8 billion yuan. China’s garment industry has shown signs of recovery with several indicators rebounding, but it has yet to return to its pre-epidemic level, according to the ministry. The latest statistics show that China’s online retail sales of clothing products rose 44.3 percent year on year in the first two months, while the country’s garment exports soared 50 percent year on year to 24 billion US dollars. ... » Learn More about China’s garment industry recovers

NUNHEAD: Consultant Rachel Watson enjoys being based at her home that looks onto the London skyline but misses the office vibe. She will soon get the best of both worlds as Britain’s coronavirus lockdown eases. United Kingdom businesses are planning for a hybrid or flexible workplace, splitting time between home and offices when the latest restrictions are finally relaxed in June. Watson worked mostly in London’s City finance district, for corporate procurement specialists Proxima, until the Covid-19 pandemic erupted one year ago and turned the area into a ghost town. The 34-year-old Scot now works for Proxima from the apartment she shares with pet beagle Kobe in the south London suburb of Nunhead, six miles (9.6 kilometers) from the office, with a window view of London’s Shard skyscraper. “I do enjoy working from home in terms of having more of a work-life balance — being able to spend more time in my community, being able to switch off work and be in your home — and I don’t ... » Learn More about Post-Covid era of hybrid work beckons in the United Kingdom

KUALA LUMPUR: More than 200 individuals were arrested for movement control order violations on Saturday (April 10). Senior Minister (Security) Datuk Seri Ismail Sabri Yaakob said 208 individuals were arrested, with 199 being issued compounds while nine others were remanded. "Among the violations committed were entertainment outlet activities (112), failure to provide entry log equipment (27), not wearing face masks (16) and 53 other offences. "The compliance task force comprising of 3,196 teams involving 14,654 personnel conducted 66,140 checks on Saturday. He said the checks were conducted on 5,839 restaurants, supermarkets (4,481), banks (3,936), hawkers (3,019), markets/farmers markets (2,184), factories (2,163) and government offices (731). "They also monitored places of worship (3,332), recreational areas (1,810), land transport terminals (1,759), water transport terminals (347) and air transport terminals (106)," he said. Meanwhile, Ismail Sabri said ... » Learn More about Ismail Sabri: 208 detained for SOP violations on Saturday (April 10)

LIKE walking into an oasis within an oasis, Penang Hill boasts of bypaths with myriad plants and trees that feel almost like a scene out of a fairy tale. A stroll along the 400m Bamboo Walk will leave one gasping in awe to see a tree with its gnarly roots exposed, taking one back to the scary trees scene in the Disney movie, Snow White. Upon learning further from Nature [email protected] Hill team director KP Ong, the leaves of this tree – Simpoh Gajah (Dillenia Reticulata King) – are used in Indonesia to pack meals as they keep the food fresh. The walkway boasts of a variety of bamboo plants and medicinal herbs, making it not only pleasing to the eye but educational. At Heliconia and Ginger Walk, the 450m path boasts a variety of colourful plants such as the Brazilian Red cloak and Red Ginger (Alpinia purpurata) which are part of the ginger family. The Moniot Trail 1825 is considered the main hidden gem as it is an all-natural trail that takes one through a pathway that narrows ... » Learn More about Enriching walk with Mother Nature