No extra holiday for banks

The Nation October 28, 2011 7:06 am

Bank of Thailand Governor Prasarn Trairatvorakul insisted that there would be no special holiday for the banking sector, despite higher water level in many areas of Bangkok.

He said that a long holiday could hurt the economy and investor confidence, if the water remains for a long time.

He noted that the extra holiday would be imposed in three cases. First, the payment system collapses which connotes that BOT headquarters and the note printing house are severely flooded, resulting in the collapse of the BahtNet and cheque clearing. Second, the telecommunications and Internet network does not function. Third, over 20 per cent of banks’ operations are damaged and cannot function.

To date, the number of closed bank branches, at 398, accounted for less than 10 per cent of total. Meanwhile, the number of unplugged ATMs, at 4,188, accounted for about 10 per cent.

Commercial banks are prepared for cash withdrawals. In the past few days, they retrieved cash from accounts at the central bank, amounting Bt20 billion a day which is much higher than daily average of Bt5-Bt6 billion prior to the flood crisis.

Comments

Chronology of the Press in Burma

1836 – 1846 * During this period the first English-language newspaper was launched under British-ruled Tenasserim, southern Burma . The first ethnic Karen-language and Burmese-language newspapers also appear in this period. March 3, 1836 —The first English-language newspaper, The Maulmain Chronicle , appears in the city of Moulmein in British-ruled Tenasserim. The paper, first published by a British official named E.A. Blundell, continued up until the 1950s. September 1842 —Tavoy’s Hsa-tu-gaw (the Morning Star ), a monthly publication in the Karen-language of Sgaw , is established by the Baptist mission. It is the first ethnic language newspaper. Circulation reached about three hundred until its publication ceased in 1849. January 1843 —The Baptist mission publishes a monthly newspaper, the Christian Dhamma Thadinsa (the Religious Herald ), in Moulmein. Supposedly the first Burmese-language newspaper, it continued up until the first year of the second Angl

ARSA claims ambush on Myanmar security forces

Arakan Rohingya Salvation Army (ARSA) on Sunday claimed responsibility for an ambush on Myanmar security forces that left several wounded in northern Rakhine state, the first attack in weeks in a region gutted by violence. Rakhine was plunged into turmoil last August, when a series of ARSA raids prompted a military backlash so brutal the UN says it likely amounts to ethnic cleansing of the Muslim Rohingya minority. The army campaign sent some 650,000 Rohingya fleeing for Bangladesh, where refugees have given harrowing accounts of rape, murder and arson at the hands of security forces and vigilantes. Myanmar's military, which tightly controls information about Rakhine, denies any abuses and insists the crackdown was a proportionate response to crush the "terrorist" threat. ARSA have launched few attacks in recent months. But the army reported that "about ten" Rohingya terrorists ambushed a car with hand-made mines and gunfire on Friday morning

Thai penis whitening trend raises eyebrows

Image copyright LELUXHOSPITAL Image caption Authorities warn the procedure could be quite painful A supposed trend of penis whitening has captivated Thailand in recent days and left it asking if the country's beauty industry is taking things too far. Skin whitening is nothing new in many Asian countries, where darker skin is often associated with outdoor labour, therefore, being poorer. But even so, when a clip of a clinic's latest intriguing procedure was posted online, it quickly went viral. Thailand's health ministry has since issued a warning over the procedure. The BBC Thai service spoke to one patient who had undergone the treatment, who told them: "I wanted to feel more confident in my swimming briefs". The 30-year-old said his first session of several was two months ago, and he had since seen a definite change in the shade. 'What for?' The original Facebook post from the clinic offering the treatment, which uses lasers to break do

Search This Blog