Economy April 18, 2014 00:00

By The Nation

kittiratt Nod for four bot directors

Bank of Thailand Assistant Governor Charnchai Boonyaritchaisri said yesterday that Finance Minister Kittiratt Na-Ranong had already signed the appointments of four directors to the central bank’s board, replacing those whose terms had expired.

Pichai Choonhawachira, Areepong Poocha-um and Anusorn Thamjai will succeed Siri Kancharoendee, Borwornsak Uwanno and Nonthapol Nimsomboon, while Achaporn Charuchinda has been reappointed as a director.

She joined the board last August to serve the remaining term of Ampon Kittiampon when was promoted to chairman.

surge in derivative warrant trading

Thailand’s first-quarter derivative warrant (DW) trading accounted for Bt48.32 billion or 2.74 per cent of total market trading turnover, the highest among others including South Korea, Singapore, Malaysia and Taiwan, according to the Stock Exchange of Thailand.

Kesara Manchusree, executive vice president of the SET, said yesterday that Thailand’s DW trading share has risen from 2.10 per cent in 2013 and 0.95 per cent in 2012.

At the end of the first quarter, derivative warrants totalled 637 issues, including 328 new issues in the period, up 74 per cent year-on-year.

Five issues of SET50 derivative warrants made their debut yesterday. Four issues were launched by Macquarie Securities (Thailand) and one by KGI Securities (Thailand).

Gold price may see a drop

Gold, which traded near US$1,300 an ounce, was set for a weekly drop, as investors weighed signs of the US recovery against tensions in Ukraine. Assets in the largest gold-backed exchange-traded product sank the most this year.

Bullion for immediate delivery traded at $1,301.55 an ounce at 2:20pm yesterday in Singapore from $1,302.53 on Wednesday, when prices reversed losses after Ukraine accused Russia of fuelling terrorism in its eastern provinces.

The metal is 1.3 per cent lower this week, poised to snap a two-week advance, according to Bloomberg generic pricing. – Bloomberg

Appeal against ruling on world cup

The Broadcasting Committee decided yesterday to appeal to the Supreme Administrative Court against a recent ruling suspending the “must-have” rule for World Cup soccer matches.

The Central Administrative Court had decided the must-have rule could not be applied to RS’ World Cup broadcast plan.

The soccer tournament in Brazil will run from June 12-July 13. RS has selected 22 of the matches for free-to-air broadcast on Channel 7, while all |64 will be shown on its pay-TV service, using a |special set-top box that will be made available today.

Under the must-have rule, holders of broadcasting rights to seven sports spectaculars, including the Fifa World Cup Final, must allow them to be aired on free-TV channels as well as on their own media platforms.