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Thailand’s cybersecurity spend critical as cybercrime costs surge Picture courtesy of FlyD, Unsplash Thailand’s current expenditure on cybersecurity stands starkly low at just 0.2% of corporate revenue, despite the looming surge in cybercrime-related costs projected to reach US$10.5 trillion globally by 2025, according to cybersecurity firm Fortinet. Full Story: https://aseannow.com/topic/1330143-thailand’s-cybersecurity-spend-critical-as-cybercrime-costs-surge/
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Thailand’s current expenditure on cybersecurity stands starkly low at just 0.2% of corporate revenue, despite the looming surge in cybercrime-related costs projected to reach US$10.5 trillion globally by 2025, according to cybersecurity firm Fortinet. Krungthai Compass, the research division of Krungthai Bank, anticipates that Thailand’s cybersecurity investment will climb to 18 billion baht (US$490 million) by 2025. This growth, averaging 13% annually from 2022, is expected to be driven largely by the government, financial, healthcare, and manufacturing sectors. Pakthapa Chatkomes, country manager of Fortinet Thailand, highlighted that cyber-attacks and AI-generated misinformation are seen as significant global risks by corporate leaders, referencing a survey by the World Economic Forum. Chatkomes cited Cybersecurity Ventures’ estimates, noting that the global economic and societal impact of cybercrime is predicted to spike from US$3 trillion in 2015 to US$10.5 trillion by 2025. Thailand faces a critical shortage of cybersecurity professionals, with only two full-time IT security employees per 1,000 employees. Additionally, the country’s IT security spending is a mere 0.2% of corporate revenue, translating to 2 baht (US$0.05) per 1,000 baht (US$27) of revenue, Chatkomes said. “Cybercriminals are increasingly leveraging AI to enhance their malicious activities.” Chatkomes further explained that AI audio spoofing techniques, such as deepfake voice attacks mimicking familiar individuals, are expected to become a significant part of the AI attack chain by 2024. Rattipong Putthacharoen, senior manager of Systems Engineering at Fortinet Thailand, reported findings from a Fortinet-IDC survey, which identified phishing, identity theft, ransomware, patching vulnerabilities, and Internet of Things (IoT) attacks as the top five cyber threats in Thailand. “Our survey indicated that 72% of organisations in Thailand experienced a doubling of breaches in 2023.” The most targeted sectors included technology, healthcare, telecommunications, government, and manufacturing. Rattipong also noted that ransomware had significantly impacted businesses, with 56% of organisations reporting a doubling of such incidents. Globally, hackers have increasingly targeted operating technology in sectors such as energy, automation, and transport. According to FortiGuard Labs’ Global Threat Landscape report for the second half of 2023, there were 222,000 common vulnerabilities and exposures, with 30,000 new vulnerabilities, representing a 17% increase from the previous half-year, reported Bangkok Post. “Cybercriminals are now exploiting new vulnerabilities 43% faster than in the first half of 2023, with attacks occurring just 4.76 days after a vulnerability is discovered, compared to eight days previously,” Rattipong stated. By Bright Choomanee Picture courtesy of FlyD, Unsplash Source: The Thaiger 2024-06-19 Get our Daily Newsletter - Click HERE to subscribe
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THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
Hearing on Petition Against PM Srettha Slated for July 10 by Charter Court File photo for reference only The Charter Court has scheduled July 10 as the initial hearing date for a petition filed by 40 previous senators. They accuse Prime Minister Srettha Thavisin of breaching the Constitution by appointing Phichit Chuenban to the role of PM Office Minister, even after he served prison time. If the court decides in the petitioners' favor, Srettha could lose his Prime Minister role. However, he contends that the appointment was lawful. Srettha, currently on sick leave due to COVID-19, is the fifth Prime Minister to face trial by the Constitutional Court since its establishment in 1997. Full Story: https://aseannow.com/topic/1330080-hearing-on-petition-against-pm-srettha-slated-for-july-10-by-charter-court/ -
The Charter Court has scheduled July 10 as the initial hearing date for a petition filed by 40 previous senators. They accuse Prime Minister Srettha Thavisin of breaching the Constitution by appointing Phichit Chuenban to the role of PM Office Minister, even after he served prison time. If the court decides in the petitioners' favor, Srettha could lose his Prime Minister role. However, he contends that the appointment was lawful. Srettha, currently on sick leave due to COVID-19, is the fifth Prime Minister to face trial by the Constitutional Court since its establishment in 1997. Two former Prime Ministers, Samak Sundaravej and Yingluck Shinawatra, were found guilty and ejected from office. In contrast, Thaksin Shinawatra and Prayut Chan-o-cha saw their charges cleared. Both Samak and Yingluck were closely associated with the previous Prime Minister Thaksin, seen as the head of the Pheu Thai party. Srettha, a newcomer to politics and a leading property businessperson, thus becomes the third Prime Minister from the Thaksin group to come under the Charter Court's examination. During the last election, Srettha was one of the three nominees for Prime Minister by the Pheu Thai party, led by Thaksin's youngest daughter, 37-year-old Paetongtarn. The charges brought forward against Srettha cite Article 160 of the Constitution, stating ministers should clearly display integrity and hold high ethical standards. In 2008, Pichit served a six-month prison sentence for contempt of court while defending Thaksin in a land deal case. The Supreme Court's Criminal Division for Political Officeholders discovered Pichit and two colleagues attempted to bribe court officials with 2 million baht. Critics argue Pichit's close ties to Thaksin, who maintains significant political influence after returning from self-imposed exile last year, secured his Cabinet appointment. Pichit later gave up his position leaving Srettha alone to face the court and the petitioners, to which he responded by reiterating that Pichit’s appointment was legal. Before taking this decision, Srettha confirmed he had consulted the Council of State, the government's legal advisor. While the Constitutional Court dismissed the case against Pichit on May 23 because he resigned, the judges voted 6:3 to hear Srettha's case. However, with a 5:4 vote, they opted against suspending him until a verdict is reached. File photo for reference only -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe
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THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
Seized counterfeit pet medicines valued at B84m File photo for reference only The police have confiscated counterfeit animal drugs valued at over 84 million baht from two significant gang networks during operations in the provinces of Nakhon Pathom and Samut Sakhon. Full Story: https://aseannow.com/topic/1330077-seized-counterfeit-pet-medicines-valued-at-b84m/ -
The police have confiscated counterfeit animal drugs valued at over 84 million baht from two significant gang networks during operations in the provinces of Nakhon Pathom and Samut Sakhon. Officials from the Consumer Protection Police Division (CPPD) alongside the Food and Drug Administration discovered 222,360 unlawful items at four locations in these central provinces, according to Thanakit Jitareerat, vice-minister for public health. He stated that the confiscated items have a retail value of 84.84 million baht. The police searched three premises in Nakhon Pathom. One of these was being unlawfully used for manufacturing these drugs within Kamphaeng Saen district's Huai Kwang area. They seized over 20 pieces of production equipment and raw materials. Police also discovered 112 bundles of unregistered animal drugs in a house in the Don Tum district. In a warehouse within the Sam Phran district, they also found falsely labeled and packaged animal medicines, says Pol Col Anuwat Rakcharoen, CPPD deputy commander. These three locations were part of an illegal animal drug network that had previously been investigated in 2020, stated Pol Col Anuwat. The counterfeit drugs were being sold in pet stores and online. In Samut Sakhon, a warehouse was raided in the Muang district's Bang Nam Jued area, leading to the seizure of 6,270 packages of illegal animal drugs valued at roughly 4.8 million baht, according to Pol Lt Col Kankanit Jongprasert, deputy superintendent of the CPPD sub-division 4. This particularly illegal operation, headed by Chinese nationals, had been functional for about four months, selling around 500 boxes of animal drugs each month. These fake drugs, worth about 300,000 baht, were imported from China before being repackaged and sent off to customers in Thailand by their Chinese employees. The seized items will now be examined further by the Department of Medical Sciences. FDA's deputy secretary-general, Weerachai Nalawachai, warned against offering unlisted veterinary drugs to pets as they could be harmful due to the absence or incorrect quantity of important substances. He suggested that pet owners be vigilant when medicating their pets and ensure the medicine's authenticity. File photo for reference only -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe
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THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
56 Individuals from Burma Detained in Kanchanaburi for Illegally Entering Thailand File photo for reference only On June 18, 2024, Thai authorities apprehended 56 Burmese individuals for illegally crossing into Thailand via Sangkhlaburi, Kanchanaburi. The Sangkhlaburi police, immigration officers, and associated units were summoned following an anonymous tip-off about a large group of Burmese navigating through the wooded areas along Road 323 to bypass a local police checkpoint. Full Story: https://aseannow.com/topic/1330076-56-individuals-from-burma-detained-in-kanchanaburi-for-illegally-entering-thailand/ -
On June 18, 2024, Thai authorities apprehended 56 Burmese individuals for illegally crossing into Thailand via Sangkhlaburi, Kanchanaburi. The Sangkhlaburi police, immigration officers, and associated units were summoned following an anonymous tip-off about a large group of Burmese navigating through the wooded areas along Road 323 to bypass a local police checkpoint. The alerted officials promptly arrived at the location and detained the group, comprising men, women, and children from Burma, who had unlawfully entered the country. These individuals confessed to illegally entering Thailand with the intention of finding job opportunities in the central region of the country. The detainees revealed they paid 16,000 baht each to Burmese middlemen to assist with their unauthorized crossing. They were due to be transported by Thai drivers to provinces like Ratchaburi, Samut Sakhon, Samut Songkhram, Nonthaburi, and Bangkok for jobs before the Kanchanaburi authorities stopped and detained them. The illegal immigrants were initially held by Thai immigration officers, who will pursue further legal actions and plan to deport them back to Burma. File photo for reference only -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe
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THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
Malaysian Polygamists Getting Married in Thailand File photo for reference only Southern regions in Thailand have become a favorite spot for Malaysian men who opt for multiple marriages in ceremonial rites. The Narathiwat Islamic Religious Council in Thailand reportedly hosts approximately 30 marriage ceremonies for Malaysian couples every month, according to a report by Bernama news agency. Couples usually hail from nearby Malaysian states like Kelantan and Terengganu, but also from farther places like Kuala Lumpur. Full Story: https://aseannow.com/topic/1330073-malaysian-polygamists-getting-married-in-thailand/ -
Malaysian Polygamists Getting Married in Thailand
snoop1130 posted a topic in Southern Thailand News
Southern regions in Thailand have become a favorite spot for Malaysian men who opt for multiple marriages in ceremonial rites. The Narathiwat Islamic Religious Council in Thailand reportedly hosts approximately 30 marriage ceremonies for Malaysian couples every month, according to a report by Bernama news agency. Couples usually hail from nearby Malaysian states like Kelantan and Terengganu, but also from farther places like Kuala Lumpur. Deputy president of the provincial council, Abdul Aziz Mamat, however, had emphasized that arranging a marriage in southern Thailand isn’t a straightforward task. Various requirements, including background checks of the couple, need to be fulfilled. Mr. Aziz refrained from explaining why Narathiwat is such a hotspot for Malaysians who choose polygamy, a marital practice permitted in Islam. The practice is not limited to Narathiwat but extends to other provinces along the southern border. As indicated by the Malaysian consulate in Songkhla, approximately 300 Malaysian couples get married in Songkhla province every month, as reported by the Malay Mail, referring to a report by the Malaysian-language newspaper Sinar Harian. Consul Ahmad Fahmi Ahmad Sarkawi pointed out Narathiwat, Yala, Pattani, and Satun as preferred wedding destinations for Malaysians. File photo for reference only -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe -
THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
Boats Stolen by Oil Smugglers Recovered by Police File photo for reference only In Songkhla, authorities have retrieved three stolen fishing boats that had been modified to smuggle diesel. The boats, stolen from a pier in Chon Buri the previous week, were found near Malaysia but were devoid of the 330,000 litres of illegal fuel they had been transporting. Full Story: https://aseannow.com/topic/1330072-boats-stolen-by-oil-smugglers-recovered-by-police/ -
Boats Stolen by Oil Smugglers Recovered by Police
snoop1130 posted a topic in Southern Thailand News
In Songkhla, authorities have retrieved three stolen fishing boats that had been modified to smuggle diesel. The boats, stolen from a pier in Chon Buri the previous week, were found near Malaysia but were devoid of the 330,000 litres of illegal fuel they had been transporting. The vessels, named Kamraingoen, JP, and Daorung, were brought back to Songkhla and docked at the pier of Marine Police Division 7 on Monday evening following the discovery. Alterations had been made to the boats, one had a partially repainted exterior, and another suffered from engine issues. Central Investigation Bureau's deputy commissioner, Pol Maj Gen Charoonkiat Pankaew, stated that the smuggled oil had likely been sold off. It's believed that the culprits left a pier in Cambodia after they had begun modifying the boats. On their discovery, the boats were nearly emptied of their fuel storage, according to Pankaew. The boats, when initially impounded, contained oil that was valued between 4-5 million baht in the black market. The actual worth of the three boats is estimated to be around 30 million baht. In connection with the boats' disappearance from the marine police pier in Chon Buri's Sattahip district on June 12, three to four police officers will be held accountable, according to Charoonkiat. The three boats were part of a total of five vessels seized in the Gulf of Thailand in March. File photo for reference only -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe -
THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
Lop Buri Steps Up Efforts to Manage Macaque Monkey Population File photo for reference only Authorities in Lop Buri province are set to amplify efforts to manage the problematic macaque population, with a focus on areas around historic landmarks such as Phra Prang Sam Yot and Phra Kan Shrine. Lop Buri's mayor, Chamroen Salacheep, has announced plans to extend the operation, which was formerly contained within downtown regions, as soon as more enclosures for captured monkeys are available. Full Story: https://aseannow.com/topic/1330071-lop-buri-steps-up-efforts-to-manage-macaque-monkey-population/ -
Lop Buri Steps Up Efforts to Manage Macaque Monkey Population
snoop1130 posted a topic in Isaan News
Authorities in Lop Buri province are set to amplify efforts to manage the problematic macaque population, with a focus on areas around historic landmarks such as Phra Prang Sam Yot and Phra Kan Shrine. Lop Buri's mayor, Chamroen Salacheep, has announced plans to extend the operation, which was formerly contained within downtown regions, as soon as more enclosures for captured monkeys are available. Since the middle of May, the city municipality and the Department of National Parks, Wildlife and Plant Conservation have collectively trapped 1,191 macaques. These monkeys have a reputation for breaking into houses, causing disruptions to businesses, and in some cases, attacking visitors. The city provides care for 1,038 of the caught monkeys while others have been relocated. The aggressive behavior of the macaques has discouraged sightseers from visiting Lop Buri’s key historical sites, which are renowned for their architectural significance but are also infamous for monkey attacks. Mayor Chamroen remains firm on plans to rid the city of stray monkeys by year's end to boost safety and revive the region's economy. Given the increasing number of monkeys in custody, the local government has asked the public to donate food. Furthermore, Wat Sao Thong Thong, located in the capital district, is hosting weekly events for people to donate fruits, vegetables, and other foodstuff to aid in looking after the captured monkeys. File photo for reference only -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe -
THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
Senator demands probe into Buriram election irregularities Image: Sakchai Lalit/AP Photo The Election Commission (EC) was urged to fast-track an investigation into suspected irregularities in the provincial-level Senate elections held over the weekend, particularly in Buriram where certain candidates received an unexpectedly high number of votes from their peers. Full Story: https://aseannow.com/topic/1330070-senator-demands-probe-into-buriram-election-irregularities/ -
The Election Commission (EC) was urged to fast-track an investigation into suspected irregularities in the provincial-level Senate elections held over the weekend, particularly in Buriram where certain candidates received an unexpectedly high number of votes from their peers. On Sunday, 23,645 candidates who had cleared the district-level selection on June 9 participated in the provincial-level vote across 77 provinces. Out of these, 3,080 candidates were shortlisted to compete for 200 Senate seats in the upcoming national-level contest on June 26 at the Impact Arena in Mueang Thong Thani, Nonthaburi. The final results are slated to be announced on July 2. Suspicions arose when several prominent candidates failed to advance past the provincial level. Caretaker Senator Somchai Swangkarn highlighted this concern, noting that information he received indicated that many candidates in Buriram did not vote for themselves. Instead, they almost unanimously voted for specific candidates, each of whom ended up with more than 20 votes. Somchai expresses his confusion on the matter, remarking that an urgent investigation is necessary. “It makes no sense that candidates did not select themselves and opted for others… the EC must urgently investigate the matter to ensure no damage has been done.” In addition to Buriram, Senatorial candidates from the Khon Kaen province who also did not advance have lodged complaints with the provincial EC office, expressing concerns about the election process’s integrity. Irregular voting patterns A candidate from professional group 15, Patchara Buaphang voiced his unease over the provincial election results. He reported that more than 20 candidates from his group did not vote for themselves or received zero votes. Patchara found it particularly suspicious that a relatively unknown elementary school teacher garnered more district-level votes than most other candidates. He has decided to file a complaint with the EC, demanding a swift investigation. “I suspect collusion among the candidates, as the majority of the 35 candidates who moved beyond the district level were teachers who have consistently received more votes than others throughout the process. “The fact that more than 20 candidates did not vote for themselves raises doubts about the transparency of the election process.” Director of the Khon Kaen provincial EC office, Watchara Seesan confirmed that the EC would adhere to the procedure and expedite its investigations into each complaint before the national-level elections. The district-level election involved intra-group voting where the top five candidates in each group advanced to an inter-group election. In the inter-group poll, the three candidates with the highest votes were shortlisted per group, totalling 60 candidates across 20 groups. This process was repeated at the provincial level on Sunday, but only the top two candidates from each group progressed to the final national stage where the top ten from each of the 20 groups will be selected as Senators. Watchara mentioned that the EC would examine whether candidates voting for others instead of themselves indicated possible vote-rigging. Additionally, other complaints included questionable candidate eligibility and allegations that some candidates were placed in incorrect professional groups, reported Bangkok Post. By Ryan Turner Image: Sakchai Lalit/AP Photo Source: The Thaiger 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe
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THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
Duck this: Ratchaburi residents fly into action against farm pests Photo courtesy of KhaoSod Residents of Ban Pong in Ratchaburi province have taken action against swarms of flies from a neighbouring duck farm in Nakhon Pathom, which has disrupted their daily lives and caused health issues. Full Story: https://aseannow.com/topic/1330069-duck-this-ratchaburi-residents-fly-into-action-against-farm-pests/ -
Residents of Ban Pong in Ratchaburi province have taken action against swarms of flies from a neighbouring duck farm in Nakhon Pathom, which has disrupted their daily lives and caused health issues. Over 20 residents from Moo 12, Nong O Subdistrict, Ban Pong District, Ratchaburi, lodged a complaint at the Damrongtham Centre. They reported that thousands of flies from a nearby duck farm in Nakhon Pathom have invaded their homes. The infestation led to numerous residents suffering from diarrhoea and conjunctivitis. Many resorted to eating under mosquito nets due to the overwhelming number of flies. Thatchasupha, a local, expressed her frustration. “It’s been like this for years. We can’t keep using insecticides because it’s not safe, especially with children in the house. Many of us have had conjunctivitis, and we frequently suffer from diarrhoea, requiring hospital visits. We don’t want to demand much; we just want the farm to clean up and disinfect the source to prevent flies from breeding. “This problem has persisted for almost ten years. It’s not just one household affected, all surrounding homes have to swat away flies while eating, and some even eat under nets. I’ve spent thousands on fly traps. We’ve hired people to spray insecticides but the flies always return in the evening. We urge the relevant authorities to provide proper guidance on duck farming to prevent such environmental issues.” Veena Chokprom-anant, the village head of Moo 12, visited the duck farm and spoke with the owner. The farm owner apologised to the residents and promised to remove the duck manure from the area promptly. They assured that no manure would be left outside the farm to prevent attracting flies and disturbing the community, reported KhaoSod. By Puntid Tantivangphaisal Photo courtesy of KhaoSod Source: The Thaiger 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe
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THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
Passenger arrested for cocaine possession at Don Mueang airport File photo for reference only A 39-year-old man from India has been arrested for smuggling after authorities discovered 5.7 kilograms of cocaine in his luggage upon his arrival at Don Mueang Airport from Laos. The drugs are estimated to be worth about 17 million baht. Full Story: https://aseannow.com/topic/1330066-passenger-arrested-for-cocaine-possession-at-don-mueang-airport/ -
A 39-year-old man from India has been arrested for smuggling after authorities discovered 5.7 kilograms of cocaine in his luggage upon his arrival at Don Mueang Airport from Laos. The drugs are estimated to be worth about 17 million baht. The customs office at Don Mueang Airport announced the arrest on a Monday morning. The man's behavior after he arrived on a flight from Luang Prabang at around 4.40pm on the previous Sunday had aroused suspicion, according to Deputy Finance Minister Julapun Amornvivat. When his bags were put through the X-ray, they appeared unusually heavy leading to further investigation. Officials then examined his two backpacks and two small travel bags and found four packages of cocaine weighing a total of 5,755 grams. The man, whose identity wasn't disclosed, has been charged with illegal importation of Category 2 drugs and possession. He was handed over to Division 1 of the Narcotics Suppression Bureau (NSB) for further action. NSB Division 1 Superintendent, Pol Col Chokchai Warasart disclosed that the suspect claimed his plan was to carry the cocaine from Laos to India, not to Thailand. However, the police didn't buy his story and are now conducting a background check to see if he has any criminal record. File photo for reference only -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe
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THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
Thailand Introduces Tougher Drug Possession Limits to Control Drug Trafficking File photo for reference only On June 18, 2024, Treechada Srithada, spokesperson for the Ministry of Public Health, revealed new government rules about legal limits for drug possession in Thailand. These new rules, which took effect on June 17, 2024, outline the legal amount of drugs one can have for personal use compared to distribution. Full Story: https://aseannow.com/topic/1330065-thailand-introduces-tougher-drug-possession-limits-to-control-drug-trafficking/ -
On June 18, 2024, Treechada Srithada, spokesperson for the Ministry of Public Health, revealed new government rules about legal limits for drug possession in Thailand. These new rules, which took effect on June 17, 2024, outline the legal amount of drugs one can have for personal use compared to distribution. These regulations were signed into effect by the Thai Minister of Public Health, Somsak Thepsuthin. According to these new measures, if a person is found with more than one pill of amphetamines or methamphetamine, or drugs that weigh more than 100 milligrams, they will be presumed to have the intent to distribute these drugs, unless proven otherwise. People recognized as addicts will be placed into rehab programs. The update to these rules aims to solve issues with the previous regulations, which were being exploited by local drug dealers. Before this change, dealers could avoid arrest by selling no more than five pills. To prevent this, the new regulations have been put in place, aiming to lower the distribution of illegal drugs. Treechada reiterated that the Thai government is committed to wiping out drug dealing in their society. As guided by the Thai Prime Minister Srettha Thavisin, agencies related to this matter will strictly enforce the law on those who step out of line. File photo for reference only -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe
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THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
BOT Reports Show a Significant Increase in New Business Registrations File photo for reference only The Bank of Thailand (BOT) has highlighted a positive trend in the business sector, where ongoing business registrations continue to surpass closures. This suggests the economy is strong and that job availability is unaffected. Piti Disyatat, BOT Assistant Governor for Monetary Policy Group, drew attention to these promising economic signs, noting that investment and jobs in new businesses are rising. Full Story: https://aseannow.com/topic/1330063-bot-reports-show-a-significant-increase-in-new-business-registrations/ -
The Bank of Thailand (BOT) has highlighted a positive trend in the business sector, where ongoing business registrations continue to surpass closures. This suggests the economy is strong and that job availability is unaffected. Piti Disyatat, BOT Assistant Governor for Monetary Policy Group, drew attention to these promising economic signs, noting that investment and jobs in new businesses are rising. In May 2024, 171 new factories were set up in the country. This is up from 143 in the same period last year, resulting in total investment of 16.8 billion baht. Jobs in these factories increased to 9,836 in May 2024, an improvement from 3,936 in the previous year, says the Department of Industrial Works. April 2024 showed a significant rise in new businesses, with 6,530 opening their doors compared with 6,041 in April 2023, according to the Business Development Department. The total capital of the new businesses amounted to 27.3 billion baht, marking a 30.5% increase from the previous year. Meanwhile, business closures shrank by 13.5%. To support economic growth, the central bank is focusing on enhancing access to credit, particularly for small and medium-sized enterprises (SMEs). New government strategies encompass a 5 billion baht low-interest loan scheme and a 50 billion baht credit protection fund. These measures form part of the "IGNITE THAILAND" initiative aiming to stimulate economic activities and enable SMEs to easily access finance. File photo for reference only -- 2024-06-18 Get our Daily Newsletter - Click HERE to subscribe
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THAILAND LIVE Thailand Live Tuesday 18 June 2024
snoop1130 replied to webfact's topic in Thailand News
More new businesses than closures in Thailand, employment stable Image from Scotsbridge New business registrations in Thailand continue to outpace factory and business closures, with employment figures remaining stable, according to the Bank of Thailand. Full Story: https://aseannow.com/topic/1330062-more-new-businesses-than-closures-in-thailand-employment-stable/