Quick News

The board of TMB Bank on this week unanimously agreed to extend Boontuck Wungcharoen’s tenure as chief executive officer from the end of 2016 for another two years.
The board expects Boontuck to continue to transform TMB Bank by strengthening its digital-banking platform. This vision includes continuing TMB’s direction of shifting the paradigm by complementing traditional bricks-and-mortar bank branches with a robust, secure, digitised infrastructure that is accessible in a way that seamlessly maximises the lifestyles of customers, it said.
The board said it was confident that “during this time of rapid and intense environmental change affecting the Thai banking industry and its shift towards a digitised economy, Khun Boontuck is the right person to help drive and architect the change”.

FTAs ‘intact’ after UK move

The decision of British voters to exit from the European Union should not affect any of Thailand’s free-trade agreements, said the Trade Negotiations Department.
Sirinart Chaimun, director-general of the department, said the UK decision should not affect the Thailand-EU FTA as the pact had been suspended anyway for the past two years, while it will take another two years for Britain’s departure from the EU to be negotiated.
Moreover, other international trade pacts including those under the World Trade Organisation and the Asia-Europe Cooperation Framework should not be affected.
She said the Brexit should create better flexibility for Britain if it wants to hold FTA talks individually with Thailand in the future.

Possible effect on Africa rice

Brexit could affect Thai rice exports to African countries since trade with those markets is mainly conducted in euros, whose exchange rate is expected to fluctuate for the short term, said Chookiat Ophaswongse, honorary chairman of the Thai Rice Exporters Association.
Africa is Thailand’s largest rice-export market, accounting for more than 40 per cent of the total. He said rice traders might suspend their orders from Thailand for a while over worries about the fluctuating exchange rate.

Gold award for ticket system

NEC Informatec Systems and Tapirs Co have won a gold award for field innovation from the Japanese Society for Artificial Intelligence for their development of a ticket ID system using face-recognition software.
The award is presented to individuals or groups that promote social innovation and practical methods for solving social problems through research and development of AI technology.
“In recent years, the purchase of event and concert tickets through online auctions or private individuals has become a widespread practice,” said Akitoshi Okumura, associate senior vice president of NEC Informatec Systems. “At the same time, resale problems and unlawful resale are on the increase.