Biz Buzz

Energy Minister Narongchai Akrasanee has stressed that he is a development economist by profession who shares a common view that energy is derived to serve the public and the energy sector has to be regulated because it handles a natural monopoly.
“But this is a contentious issue. Managing the energy sector is a difficult thing for every government,” he said.
“Solutions to energy problems are difficult, as it involves economics and politics.”
But the public can be confident that the minister will not take a soft stance on energy monopolies.
“I grew up during the period when the ‘Seven Sisters’ were ruling the oil world. Then in the 1970s, Opec dominated the oil world to hold us hostage,” he said, adding that soaring oil prices brought down the government he had a role in.
That was in 1979, and he said it led to the establishment of national oil companies in Thailand, including PTT.

A SMALL WORLD
Takeda Thailand chief executive Peter Huang reckons we are now living in a truly small world.
Huang recently recalled how a woman applying to work at the company speculated that he might have been the man who sat in front of her during the Fifa World Cup final in Brazil this year.
“Perhaps I might have spoken something about Thailand [and thus she recognised and remembered me],” he said.
Huang said he obtained the tickets for the final only about 90 minutes before it started as a result of Brazil not making the final and, unsurprisingly, they were not cheap.
Contributed by Pichaya Changsorn