Flood recovery budget

BANGKOK, 11 January 2012: The Thai Cabinet has approved a Bt11,026.607 million budget for flood rehabilitation.

Government spokesperson, Thitima Chaisang reported the Cabinet approved a Bt11,026.607 million budget of which Bt5,693.800 million would go to transportation; Bt137.575 million to rebuilding religious and historical sites; Bt1,379.905 million to water resources and irrigation and Bt3,201.640 million to restore schools.

In addition, Bt613.688 million will go to the Ministry of Defence to repair military vehicles used to help flood victims in the capital and other inundated provinces. Around Bt341 million will cover hardware damaged by floods and Bt272 million for equipment damaged by military’s relief operations.

In a damage assessment report, the government reported that 8,252 factories in 42 provinces had suffered substantial losses estimated at Bt328,261 million including lost business revenue.

It included 888 factories in seven industrial estates in Ayutthaya and Pathum Thani province. They alone suffered losses of Bt171,087 million in lost revenue.

There were another 7,364 factories that filed claims for a total Bt157,174 in losses. Restoration will take up to six months to complete.

Tourism gains in budget bill

BANGKOK, 5 January 2012: Ministry of Tourism and Sports’ fiscal year of 2012 budget is likely to increase if the House of Representatives approves the budget bill on Friday.

The House of Representatives is expected to pass a Bt2,380,000 budget bill for fiscal 2012 now in its third reading.

Tourism and Sports Ministry is likely to be the second largest beneficiary gaining Bt3,510 million in the latest budget bill. It had earlier requested Bt6,754 million, but that has been revised to Bt10,264 million. Read more

Thai government counts the cost

BANGKOK, 19 October 2011- Thailand’s Cabinet on Tuesday approved an increased deficit budget for 2012 adding Bt50 billion that will be needed to rehabilitate the country after suffering the worst flooding in over 50 years.

Minister of Finance, Thirachai Phuvanatnaranubala, said the Cabinet approved the expansion of the deficit budget for fiscal year 2012 by Bt50 billion, raising the overall deficit to Bt400 billion.

The budget was increased from an initial Bt350 billion. Read more

Thailand’s first Tune Hotel will open in Pattaya

BANGKOK, 10 August 2010 – Tune Hotels.com will open its first hotel in Thailand’s Pattaya resort by February 2012, offering rates as low as US$3 a night for a bare-bone, no-frills room.

Two hotels under the same brand will follow in Bangkok and another in Hat Yai, South Thailand, probably by 2013.

All the hotels, with the exception of the Hat Yai property, will be built from scratch, according to a source close to the developer, Red Planet Hotels Company Limited, a subsidiary Evolution Capital PLC, listed on the Thai stock exchange. In Hat Yai, the company will restore an existing building.

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EasyHotel opens in Dubai

DUBAI 30 June, 2010 – EasyHotel Jebel Ali, the budget hotel chain’s first management venture outside Europe, is now taking reservations through the group’s website www.easyhotel.com ahead of  a 1 August opening.

Located in the Jebel Ali Free Zone (Jafza) on Sheikh Zayed Road, Dubai, the hotel, is owned and operated by Istithmar Budget Hotels FZE, an Istithmar World company. The hotel’s opening rate for a double room is AED99 per night.

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