Bank insists sector will open up gradually; no progress made on insurance. After the sixth round of free-trade negotiations with the United States drew to a close yesterday, the Bank of Thailand said that Bangkok would continue to push for a gradual opening of its financial sector rather than within three years as the US has proposed. That way, local financial institutions can prepare for future competition under a fully liberalised system, said Tarisa Wattanagase, deputy governor of the central bank.

FUNDING INFRASTRUCTURE: Mega-projects affordable: rating firm

Bad management would lead to a significant hike in govt debt, says Japan Credit. Despite fears of ballooning public debt stemming from mega project investments, Japan Credit Rating maintains the view that the government will manage to contain the potential fiscal cost. JCR sees “limited” direct impact from mega-project investments on the government’s fiscal accounts, as the funding sources will be diversified and government budget funds will account for less than 40 per cent of the total Bt1.8 trillion funding.

FUTURE LOOKS GOOD: Fujitsu to expand its HDD business

TSE’s decision to boost trading lifts its fortunes. Fujitsu’s stock jumped more than 5 per cent yesterday on news that the struggling company plans to expand its hard disk drive business and that the Tokyo Stock Exchange – which uses Fujitsu software – plans to boost trading capacity.

Focus on electronics sector for more FDI

Thailand hopes to boost foreign direct investment in the electronics sector threefold on the way to becoming the electronics manufacturing centre of Asia. The government plans to establish manufacturing clusters over three years. The strategy will develop integrated manufacturing from electronic parts through value-added products.

Ethanol liberalisation to fuel gasohol production

Deputy prime minister Pinij Charusombat, as chairman of a biomass development and promotion committee, said yesterday that the committee has approved the liberalisation of domestic ethanol production this year to serve demand for gasohol.

IEC denies A-Host link

International Engineering Plc (IEC) confirmed yesterday that it had no relationship with Application Hosting Service (A-Host)’s shareholders.

IN BRIEF: Otop products

Govt set to spend Bt50m marketing. The government is planning to set up a marketing fund for the One Tambon One Product (Otop) scheme to promote and distribute locally made goods more professionally for the domestic and export markets.

Juggling sugar

The sugar shortage has prompted the government to revise the quota allocation to solve domestic problems, Industry Minister Suriya Jungrungreangkit, said yesterday.

Key SEC discussion Monday on alcohol

The Securities and Exchange Commission (SEC) board of directors will meet on Monday to discuss whether alcohol is deemed a business that benefits society and the economy. Commission director Panas Simasathien announced Monday’s special meeting after yesterday’s ordinary meeting, which he said did not have alcohol on its agenda.

Up-market camp for Golden Triangle

Minor International will open a 15-villa camp-style resort in the Golden Triangle region of Chiang Rai today on a remote site along the Mekong River where the borders of Thailand, Laos, and Burma intersect.

Boonrawd Brewery to place more focus on exports

After almost eight years protecting its domestic market for Singha Beer, Boonrawd Brewery Co Ltd said yesterday that it would spend this year refocusing on international markets, kicking off with the United States.

LATE NEWS: central bank data

Reserves rise, baht weakens. The baht yesterday weakened to Bt39.53 to the dollar, from Bt39.35 on Thursday.

Big banks’ interest rates to rise next week

Larger banks will raise interest rates on Monday following Siam Commercial Bank’s (SCB) increase on Wednesday, while the Bank of Thailand has said it will still focus on inflationary pressure when considering a policy-rate increase next week.