Ministries to check requests

The requests are from Northeast truck operators, the Federation of Land Transport, Ua Arthorn taxi drivers, shrimp farmers and fishing-boat operators. The two ministries must decide if the groups have really been affected by higher oil prices, the subsidy demanded and the period it should be given for.

Energy Minister Poonpirom Liptapanlop said the committee could not approve the allocations if there was no proof the public would benefit.

Company closures

Due to slowing economic growth, the number of business closures in the first five months this year increased sharply by 30.23 per cent to 8,871 companies, according to a Business Development Department report. In May alone, 1,012 firms closed down, while 1,144 new companies were registered.

Thai Credit Retail Bank ups rates

Thai Credit Retail Bank has increased interest rates for time-deposit accounts ranging from eight to 36 months by between 62 and 75 basis points. The new rates are 3.5 to 3.75 per cent.

Mongkon Leelatum, CEO and managing director, yesterday said nearly all commercial banks had adjusted rates in order to sustain their long-term savings account client base and to provide additional support in the current economic situation.