Briefs

The government's proposal to establish a sovereign wealth fund is not among its urgent policies, Commerce Minister Kittiratt Na-Ranong said yesterday.

"The sovereign wealth fund doesn't mean we must use the money from the central bank," Kittiratt said. "We may mobilise funds from state and private sectors like the Vayupak Fund. It's not an urgent issue. If everybody isn't happy about it, we don't need to do it now." - Bloomberg

Fiscal budget

The government budget in the fiscal year starting October 1 will not exceed Bt400 billion, Commerce Minister Kittiratt Na-Ranong said yesterday.

Revenue is expected to total about Bt1.96 trillion, Kittiratt said. The Finance Ministry on August 30 estimated a budget deficit of Bt350 billion, unchanged from the figure approved in January by the Abhisit Vejjajiva government.

Meanwhile, the Cabinet approved the government's four-year spending plan, National Economic and Social Development Board secretary-general Arkhom Termpittayapaisith said.

The government expects to spend about Bt11.5 trillion over the next four years to support policies to boost economic growth, according to a draft document. - Bloomberg

AirAsia offer

AirAsia is offering 20 per cent off for all seats to all domestic and international destinations.

CEO Tassapon Bijleveld said the booking period was from today through Sunday for trips between September 12 and November 16.

This promotion is available from all of AirAsia's 12 hubs in Malaysia (Kuala Lumpur, Kota Kinabalu, Kuching and Penang), Thailand (Bangkok, Phuket and Chiang Mai) and Indonesia (Jakarta, Bali, Surabaya, Bandung and Medan), to 22 countries on more than 160 routes. The promotion is also applicable for economy and premium flat beds on all AirAsia X destinations, excluding Tehran. - The Nation 

Power-plant deal

Sino-Thai Engineering and Construction has signed contracts worth Bt1.34 billion with Gulf JP Co for engineering work on seven small power plants, according to a filing to the Stock Exchange of Thailand.

The contracts range from engineering, procurement to construction. The project period is between June 28 this year and July 1, 2013. - The Nation