Bank admits to talks with BOT, but denies it applied for a licence 3-4 months ago. Deutsche Bank of Germany has applied for a licence to set up a hedge-fund operation in Thailand, a financial source said yesterday.

Advance Cosmetics in JV with Dutch firm

Advance Cosmetics – which has made “Happy” facial and body powder and other cosmetics for more than 50 years – will form a joint venture with a Dutch company that will totally transfer its hair cosmetics factory to Thailand. “Negotiations for partnership are in process,” Advance’s chief executive Somphong Tantivilaisin said.

Oil price hike is very scary, PM says

The global crude-oil price hit a record high of US$68 (Bt2,797) a barrel yesterday, and Prime Minister Thaksin Shinawatra called that “very scary”.

Bosch banks on big ADC boost

Bosch sees its new unit ADC Technologies International as giving a major boost to its expansion in Thailand.

Local partner sought for cyber-risk awareness job

Computer Associates (CA) Thailand is seeking a local partner to create a parental-awareness campaign to safeguard children from access to improper Internet sites.

Tourism groups plan tsunami assistance

Five tourism-related associations will unveil a new tourism council next week to help tsunami-hit businesses get back on their feet in the absence of adequate government assistance, an industry source said yesterday.

Mitsubishi to expand Triton production

Mitsubishi will spend ?1 billion (Bt374 million) to expand production of its new Triton pickup at its Laem Chabang assembly plant, from the current 180,000 units to 200,000 units per year.

NTC set to grant 3 new ISP licences

The telecom regulator yesterday agreed in principle to grant ISP licences to TT&T, Acumen and Kirz.

Ministers upbeat as road show hits China

Chinese investors are expected to show an interest in the Thai energy, petrochemicals, food, construction and electrical appliance sectors, Finance Minister Thanong Bidaya said yesterday during the Kingdom’s Chinese road show.

FRIDAY BUG: Spicing up the bond market

Bonds issued in many countries are often given nicknames.

Biznews round-up

-The premier will today hold talks with the Bank of Thailand and the Finance Ministry to weigh up the benefits of voluntary and compulsory saving measures to boost the country’s savings.

PRATUNAM: Bt2-billion retail plaza and condo block planned

SPC Properties says interest strong in key fashion area

Nigeria seeks closer economic ties with Thailand

Nigeria is seeking stronger economic and diplomatic ties with Thailand and has asked the Thai business community to explore investment opportunities there, now that the country has initiated reforms.

COMPANY REPORTS

ASIA SERMKIT LEASING reported a 2nd-quarter net profit of Bt36.65 m.

MASS TRANSIT PLAN: Cut back to three routes, panel says

One agency should be responsible, it says

Surapon targets its frozen seafood at Thai eateries abroad

Frozen foods manufacturer and exporter Surapon Foods Plc plans to penetrate overseas stores and restaurants with its frozen seafood products to hitch a ride on the growing popularity of Thai restaurants abroad.

US hoping to finalise FTA deal by spring

The US Trade Representative Office hopes to wrap up a free-trade deal with Thailand by spring next year, a visiting US trade official says.

Picnic told to explain debt-swap plan

The Stock Exchange of Thailand has instructed cash-strapped Picnic Corporation Plc to provide further information by today on the debt-to-equity swap planned by two subsidiaries.

STREET WISE: Telecoms take the initiative

When Chaturon Chaisang was appointed education minister, people in the field hailed the decision. To many, he was a better choice than hard-liner Adisai Bhodaramik, but some questioned the changes Chaturon would introduce at the ministry.

PTTEP STOCK: Par-split plan ‘inappropriate’

Timing not right; may lead to further price rise, risk to retail investors – experts

KTB opens Internet transfer unit

Krung Thai Bank has unveiled plans to boost foreign banking business through the Internet with a new hi-tech cash transfer service, a senior executive said yesterday.

DEBT-RESTRUCTURING SOLUTIONS: Longer loan maturity ‘top option’

Extending the maturity of loans is the most popular debt-restructuring solution among Thai financial institutions, followed by foreclosing assets to repay debts, the central bank said.