Briefs

Italian-Thai Development (ITD) has established a subsidiary each in Bangladesh and Laos to support its overseas operations. The Thai construction firm holds a 99-per-cent stake in both ITD Bangladesh and Italian-Thai Hongsa.
In its report to the Stock Exchange of Thailand, ITD also said that it had signed a contract with the State Railway of Thailand to go ahead with building steel bridges as well as modifying bridge piers between the Nakhon Sawan Station and the Bungborapetch Station in the province. The contract is valued at Bt134.8 million. - THE NATION

BBL teams up with 4 Myanmar banks

Bangkok Bank is teaming up with four leading private banks in Myanmar to help improve the services. Bangkok Bank already has a representative office in Yangon, which it established in 1995.
The four Myanmar banks are Asia Green Development Bank, Ayeyarwady Bank, Kanbawza Bank and the Cooperative Bank.
Under the agreement, the four Myanmar banks will support trade and investment of Thai and other international businesses as well as individuals remitting funds. - THE NATION

Funds for state agencies increased

The Cabinet yesterday increased the budget for state enterprises for this fiscal year from Bt852.2 billion to Bt952.2 billion. This was at the suggestion of the National Economic and Social Development Board.
The Cabinet also agreed to extend the limit on state enterprises’ expenditure from Bt537.56 billion to Bt577.56 billion. - THE NATION

Sale of cars on the rise

July saw the sale of 131,646 cars, which was 80.6 per cent more than the same month last year. The total number of cars sold in the first seven months of this year rose 46.2 per cent to 130,000 units.
Of the cars sold in July, about 64,430 units were passenger cars, up 99.6 per cent compared to last July, while 67,216 of them were commercial vehicles, up 65.5 per cent over the same period last year.
In the commercial vehicle segment, about 58,868 units were one-tonne pick-up trucks, which rose 68.1 per cent over the same month last year.
The growth in the passenger car segment in the first seven months of 2012 has been driven by higher demand thanks to the government’s first-car scheme and the launch of new models by major carmakers. – The NATION

Event to push govt policies
The government plans to hold coordinated events nationwide on Saturday and Sunday to advertise its policies, Deputy Finance Minister Thanusak Lek-uthai said.
The government will present to the public 11 projects including the debt-suspension and rice-subsidy schemes, he said.
Prime Minister Yingluck Shinawatra and her Cabinet members will kick off the event on Saturday at Ratchamungkhalakirasatan Sport Stadium. Related events will be held in all 76 provinces, he said.
The government will highlight the first home and car, credit card for farmers, crop insurance, women’s fund, village fund and universal healthcare fund policies, along with many other financial schemes implemented by state run banks. Economists have criticised these projects as populist policies that waste taxpayers’ money and serve only to boost unsustainable consumption. - THE NATION