Economy and commerce
Thailand, Japan conclude Bilateral Swap Arrangement
The Bank of Thailand and the Bank of Japan have signed an agreement to govern the Bilateral Swap Arrangement (BSA), enabling both countries to exchange their currencies. The facility under the arrangement amounts to US$3 billion (102.4 billion baht), said Chantavarn Sucharitakul, assistant governor, corporate ...
High feed prices cut into animal husbandry’s profits
Input material prices have decreased, but the price of animal feed remains unchanged, and, as a result, breeders have incurred heavy losses as the live pork price has dropped dramatically. Nguyen Thi Dung in Vinh Huu commune of Tien Giang province complained that the live pork ...
Deadlock as PTT hit by big claim over oil spill
Thai firm alleges Indonesia refuses to settle after years of dispute and Bt70 billion suit filed in Court. The Indonesian government and Thailand’s PTT Exploration and Production plc are locked in a multi-billion-baht legal dispute over alleged environmental and other damages resulting from the massive 2009 Montara ...
15 mining projects see concessions revoked
Fifteen mining operations have had their concessions revoked after investors failed to implement their projects as agreed after they were granted concessions by the government. Speaking at the ongoing ordinary session of the National Assembly last week, Minister of Energy and Mines Dr Khammany Inthirath ...
Laos attends special ASEAN-US foreign ministers meeting
Minister of Foreign Affairs Saleumxay Kommasith led a Lao delegation to attend the Special ASEAN-US Foreign Ministers’ Meeting which was held in Washington D.C., the United States, on May 4. Malaysian Foreign Minister AnifaHj. Aman and the United States’ Secretary of State Secretary Rex W. ...
WFP injects more than US$85m to support sustainable development
The World Food Programme has granted more than US$85 million (682 billion kip) to help the Lao government achieve the Sustainable Development Goal targets, as well as middle-income country status. A Memorandum of Understanding was signed on Friday by Deputy Minister of Planning and Investment, ...
After 50 years, Asian Development Bank looks ahead
The Asian Development Bank set out its strategy for the next decade during the launch of its 50th annual meeting in Japan over the weekend, while also recognising the challenges that remain for the 300 million people still living in poverty in Asia. Addressing the ...
Insurance giant turns to Cambodia
AIA, the world’s second largest life insurance company, has arrived in Cambodia pledging to play a key role in the kingdom’s dynamic growth and development. Ng Keng Hooi, chief executive and president designate of AIA Group Limited, said that AIA has the right people and ...
RSPO freezes palm oil company’s operations in Papua
The world’s biggest sustainable palm oil association has frozen the operations of one of its most prominent members on concessions in Indonesia because of failures to meet its standards on new planting. The Complaints Panel of the Roundtable on Sustainable Palm Oil issued a stop-work order ...
Lotte gets approval for $884m Smart City
Korean conglomerate Lotte Group got the go-ahead from the HCM City People’s Committee on Wednesday to develop the Thủ Thiêm Eco Smart City in District 2. The 74,420sq.m project in the core of the Thủ Thiêm New Urban Area will cost VNĐ20.1 trillion (US$884 million) ...
