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Thai Oil Public Company Limits Selling to Iran aircrafts

The PTT Public Company has limits on the amount of oil selling to Iran aircraft. President and Chief Executive Officer of PTT Public Company Pailin Chuchottaworn denied a rumor that PTT will stop selling oil to Iranian aircrafts.

Bahar Karaman

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PTT industrial estate

The PTT Public Company has limits on the amount of oil selling to Iran aircraft. President and Chief Executive Officer of PTT Public Company Pailin Chuchottaworn denied a rumor that PTT will stop selling oil to Iranian aircrafts.

He said the company will only set a limit on the amount of oil selling to Iran aircrafts, as suggested by the government, led by the Foreign Affairs Ministry.

The Foreign Affairs Ministry stressed that Thailand as a member of the United Nations, must abide by the UN resolution to impose a sanction on Iran.

Moreover, he added the company limited a quota selling since last year, reaffirming that its policy has nothing related to the recent Bangkok’s triple explosions.

Moreover, he conceded that stressful situation in Iran adversely affect global oil prices in the short term. Currently, global prices stand at 110 US dollars a barrel.

He said other oil-producing countries in the Organization of the Petroleum Exporting Countries or OPEC group, in particular Israel, announced to increase its productions.

Meanwhile, the company has store its stock in various places, including Africa, the Mediterranean, and the Far East to reduce possible risks.

via Thai-ASEAN News Network – PTT Limits Selling Oil to Iran.

Thailand’s Criminal Court approved on Wednesday an extension to the detention of Mohammad Hazaei, one of the suspects in the Sukhumvit bomb incidents last week, and the suspect is being detained at high-security Bangkok Remand Prison.

Security was tightened along the route where police brought Hazaei to seek court approval for a further 12-day detention.

He was charged with conspiracy to make and possess explosive devices intended to cause harm to others.

Police investigators said they opposed bail, citing possible flight risk as the case concerned serious offences with severe punishment. In addition, the explosive devices found were especially powerful and destructive, posing a threat to the public. The suspect, if released, might tamper with witnesses or evidence.

Mr Hazaei was taken into police custody at Suvarnabhumi Airport last week as he was trying to board a flight to Malaysia.

So far, arrest warrants have been issued for five suspects, with two suspects still at large, while police are gathering evidence to seek an additional arrest warrant for a sixth suspect.

Thailand on Tuesday sent a request to Malaysia for extradition of Masoud Sedaghatzadeh, a suspect in this explosion case, who was arrested by Malaysian authorities in Kuala Lumpur, one day after three explosions in Sukhumvit area.

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Giant Thai-Chinese wholesale hub opens in Bangkok’s Pratunam

The region’s largest wholesale hub features products from China at wholesale prices, and products from Thai manufacturers to export to China.

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Asset World Corporation (AWC) has launched the region’s largest wholesale hub in the Pratunam area of Bangkok, housed in the old Pantip Plaza tech mall.

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Thailand remains in pole position for the highest funds raised across Southeast Asia

Taking the top two spots on the region’s leaderboard this year are Thailand’s Central Retail Corporation Public Company Limited and SCG Packaging Public Company Limited with US$1.77 billion and US$ 1.27 billion funds raised respectively

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Thailand’s Central Retail Corporation Public Company Limited raised US$1.77 billion in 2020

THAILAND, 26 November 2020 — Capital markets across Southeast Asia stayed resilient in 2020 despite a host of uncertainties from the evolving global health crisis to the worsening US-China trade tensions and the impact of the US presidential elections.

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Thailand’s antitrust agency under scrutiny over $11 Billion Tesco Deal Approval

With the Tesco deal approved, CP Group will gain control over a network of about 2,000 hypermarket and grocery stores across Thailand, and the group already operates 7-Eleven convenience stores and the Siam Makro chain.

Olivier Languepin

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Thailand’s largest conglomerate, Charoen Pokphand Group (CP) won on Friday the Thai antitrust agency’s approval  for acquisition of retail giant Tesco Lotus: the Office of Trade Competition Commission (OTCC) voted 4:3 in favour of the US$10-billion takeover deal.

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