Link from Taling Chan will take 4 years to construct. The Transport Ministry will speed up construction of the Bt94.8-billion mass transit Red Line after revising the investment plan to replace two other lines with special bus lanes.

RECORD OIL PRICE: Too soon to change forecasts: BOT boss

‘High prices taken into account’. Bank of Thailand Governor MR Pridi-yathorn Devakula said yesterday that it was too soon to begin adjusting economic forecasts because of a new historic high for global oil prices, which spiked to more than US$70 (Bt2,875) a barrel.

Japanese keen for direct Phuket link

Japanese travel agents have urged Thai Airways International to resume its direct flights between Kansai and Phuket because they are finding it difficult to sell Phuket packages via Bangkok.

In Brief

CABINET: Approval for Bt2 billion to be spent developing ‘star’ products

Spa: M’sia seeks help

Malaysia has asked Thailand to help develop Muslim-friendly spa services in the Islamic nation to cater to the specific religious requirements of its population, the Commerce Ministry’s adviser said yesterday.

Picnic Corp share sale

Theeratchanon Lapvisuthisin, embattled Picnic Corporation Plc’s major shareholder, has reduced his stake in the cooking-gas manufacturer by 4.29 per cent to 9.12 per cent ahead of the firm’s rights offering.

Street WISE: Pongsak in hot seat over transit

The new transport minister, Pongsak Ruktapongpisal, must be having a tough time these days. Only a few weeks after his appointment, he has to consider a very crucial issue – a revision of the planned mass transit network.

DON MUANG TOLLWAY: Parties split over different projections

No deal as CEO Sombat believes new airport will open later than govt says

MCOT dividend windfall

MCOT Plc announced yesterday it would pay an interim dividend of Bt0.75 per share, representing a dividend payment ratio of 95 per cent of its Bt546-million net profit for the first half of the year.

Banks like plan to pool informatio

Commercial banks say they are interested in pooling their lending information to improve risk-management efficiency under Basel II, the new international banking standard to be adopted in Thailand.

STOCK EXCHANGE: Merrill Lynch upgrade fails to lift SET

Despite US-based Merrill Lynch’s decision to upgrade the bourse from underweight to overweight, the stock market lost 0.7 per cent as the Nymex oil price reached a record high above US$70 a barrel.

SALE OF SUBSIDIARIES: Account giant PwC offloads units to Tricor

HK bank decides to boost its Thailand operations

True may seek licence via offshoot

True Corp Plc is considering getting one of its subsidiaries to apply for a fixed-line business licence from the national telecom regulator on its behalf, its president Supachai Chearavanont said.

Agency to push SME innovation plan at Apec meet in S Korea

The Office of Small and Medium-Sized Enterprises Promotions will represent Thailand’s small and medium-sized companies at this week’s Apec meeting on SMEs in South Korea.

In Brief

IMPORT DUTIES: EU tariff reduction for Thai rice concerns Italian farmers

Drought-hit firms tipped to pass on extra cost to customers

Petrochemical companies and refineries located on the parched Eastern Seaboard are expected to see higher water costs, but instead of letting it affect their bottom lines, they will most likely pass the burden to their customers, according to Phatra Securities.

Loxley may be N Korea bound again

Authorities in North Korea might consider relaxing a ban on mobile-phone operations, enabling Thai operator Loxley to resume its service after a suspension of 16 months, officials said yesterday.

CENTRAL PATTANA: Developer to launch eight complexes

Will invest up to Bt20 bn on properties by 2010

Trade barriers online

PM Thaksin Shinawatra has ordered the Information and Communications Technology Ministry to create a Web page to serve as an exporters’ directory and collect information on trade obstacles.