IN BRIEF
Thailand charged with dumping exports
Exports of polyester staple fibre (PSF) from Indonesia, South Korea and Thailand are being investigated by Pakistan's National Tariff Commission following charges of dumping practices.
The Khaleej Times reported the investigation had been initiated in response to an application from three domestic producers of PSF, which is used mainly in the manufacture of textile fabrics and garments. The domestic industry comprises five units with a combined production capacity of 630,600 tonnes per year, on a three-shift basis. All five units are operational. Pakistan's imports of PSF increased from 1,139.27 tonnes in 2004-2005 to 28,737.84 tonnes in 2005-2006. - The Nation.
Mazda head moves to Ford in Bangkok The executive vice-president of the Mazda Motor Corporation, John Parker, has been appointed group vice president, Asia, Pacific and Africa, for the Ford Motor Company, based in Bangkok. Parker will continue as a representative director and vice chairman of the Mazda board. The appointment is effective from September 1. Mazda's president and chief executive, Hisakazu Imaki, said Parker had played an integral role in a wide range of areas at Mazda and was instrumental in the implementation of Mazda Momentum, the company's mid-term plan. - The Nation.
India protects local firms from Thai imports India will start importing colour television sets from Thailand next month under a free trade agreement between the two nations and, in preparation, has introduced special charges to protect local manufacturers. Indian Finance Minister SS Palanimanickam was quoted by the Indo-Asian News Service as saying a 4-per-cent special customs duty is being levied on most imports to compensate for state-level taxes. "This should give some protection to domestic manufacturers of TV sets," he said. India will begin importing colour television sets from Thailand under a framework agreement for establishing free trade between the two countries. - The Nation.
Picnic posts huge loss, trading suspended Picnic Corp posted a second-quarter net loss of almost Bt163 million, compared with a net profit of Bt30.52 million for the same period last year. The Stock Exchange of Thailand has posted an "SP" (suspension) sign, suspending trading of Picnic securities. The company's auditor has issued a disclaimer opinion on Picnic's financial statements. - The Nation.
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