Furama Hotels International (FHI), a Singapore-based hotel management chain, plans to manage between five and eight hotels and resorts in its first year in Thailand.

More rate hikes likely to combat inflation

The Bank of Thailand raised short-term interest rates yesterday by a quarter-point in a widely expected move, and warned that further hikes are possible to help clamp down on inflation.

INSURANCE
Japanese investor dips toes in Ocean Life

Dai-ichi Mutual Life Insurance Co, Japan's second-biggest life insurer, yesterday agreed to buy a 24% stake in privately owned Ocean Life Insurance in order to expand operations in the growing Asian market outside Japan.

ECONOMY
New subsidies 'will spoil consumers'

Local energy experts warn that the latest government measures to help ease the financial burdens of low-income people could end up spoiling consumers, who will expect subsidies to continue.

STOCK MARKET
Exodus continues as US woes deepen

Thai shares lost 3.38% yesterday as part of a broad regional sell-off over worries about the US economy.

TMB in the black

TMB Bank, the country's sixth-largest bank, yesterday announced a second-quarter net profit of 1.21 billion baht, a sharp turnaround from a loss of 18.3 billion last year.

Train The TRAINER
The art of leadership

I'm hearing a lot of interest in leadership development these days. Last year, both The Economist and Fortune magazine ran articles on the importance of building leaders in organisations. Not too long ago, I was meeting with a friend who has been in the HR field for many years.

CL slows growth forecast for Novartis

The Swiss pharmaceutical giant Novartis expects to post slower growth of 15% this year in Thailand, down from 20%, partly because of government-imposed compulsory licensing (CL) of its cancer drug early this year.

PROPERTY
L.P.N. says buyers accept higher prices

Condominium buyers appear to understand that rising construction costs will lead to higher prices and are prepared to absorb them to some extent, says the listed condominium specialist L.P.N Development Plc.

INBrief
QH taps high end

PROPERTY :The listed developer Quality Houses Plc says it remains confident in the purchasing power of upper-end homebuyers, and has announced plans to launch the 2.55-billion-baht Laddarom Ratchapreuk-Rattanthibet 2 estate at the end of this month.

INDUSTRY
Siam Cement worries oil prices retard Thai economy

Siam Cement Group (SCG), Thailand's largest industrial conglomerate, has expressed concern over the Thai economy in the face of rising of oil prices.

Asean delays tourism HR liberalisation

Asean members have agreed to postpone the liberalisation of services in the tourism industry, now struggling due to high oil prices.