Economy and commerce
Trade
Forest department investigates sizeable seizures of smuggled timber
The forest department has launched an internal investigation in response to sizeable seizures of smuggled timber since late January. On Jan. 24, authorities seized more than 30 tons of smuggled teak from two containers at the Myanmar Industrial Port in Yangon. Further investigations led to ...
GDP expected to grow at 6.8 percent: IMF
The International Monetary Fund has predicted that Laos’ Gross Domestic Product will grow at 6.8 percent this year, less than the government’s projected rate of 7 percent. The IMF Executive Board concluded the Article IV consultation [1] with Laos recently, describing Laos’ challenges in dealing ...
Palm oil recovers from four-month low
Malaysian palm oil futures recovered late on February 28, tracking stronger prices after hitting their lowest level in nearly four months earlier in the day. Benchmark palm oil futures for May on the Bursa Malaysia Derivatives Exchange ended the session 0.6 percent higher at 2,770 ...
Exports driving shift in Thai trade
Cambodian exports to Thailand surged by 46 percent last year compared with 2015 while imports from the neighbouring country decreased slightly, according to statistics provided on February 28 by the Ministry of Commerce. The value of Cambodian exports to Thailand reached $936 million by the end ...
ASEAN’s 50th year agenda: beyond the South China Sea?
This week’s smooth, relatively uneventful retreat by ASEAN’s foreign ministers appears to have put the grouping’s agenda on track for its 50th year, choosing to focus beyond the South China Sea disputes and set the stage for an April leaders’ summit that will put the ...
Investors pledge to pour cash into Tuyên Quang
A conference on investment, trade and tourism promotion held for the first time by the mountainous province of Tuyên Quang yesterday has concluded with investors’ pledging a total of over US$801 million into six large-scale projects in this province. The provincial authorities also took the ...
Banpu Power posts 100% net profit rise in 2016
Banpu Power Plc has reported its 2016 business performance, with its net profit of Bt4.13 billion, a significant increase on the Bt2.07 billion it posted in the previous year. With its strong financial status, Banpu Power has affirmed its strategic plan in operating conventional and renewable ...
Export value jumps 8.8% in January as oil prices rise
Export value in January grew by 8.8 per cent to US$17.09 billion, after higher oil prices resulted in more revenue from oil by-products, according to the Commerce Ministry. The ministry on February 27 reported that the value of January imports rose by 5.17 per cent to ...
Law needed to regulate Thai investors’ abuses abroad: Thai, Myanmar groups
Community groups in Thailand and Myanmar have urged protection of human rights and prevention of environmental impacts – after Thai entrepreneurs were reported to have carried out abusive and environmentally damaging acts in neighbouring countries. Some 27 Thai non-government groups and the Dawei Development Association, a ...
Phuan festival bolsters Lao-Thai friendship
The annual Phuan ethnic community festival in Thailand has significantly contributed to maintaining and strengthening the friendship between Laos and Thailand along with conserving the traditions of the ethnic group. Lao Ambassador to Thailand Mr Li Bounkham made the remarks as he joined Nan province ...
