NAIROBI, June 8 (Xinhua) -- Kenya is seeking to borrow 300 million U.S. dollars from the domestic market in its latest sale of Treasury bonds.
The Central Bank of Kenya (CBK) said on Wednesday that the money to be raised in about 10 days, and will help fund the country's 2.3 billion U.S. dollar
budget, the largest ever, which is to be unveiled today in Parliament.
The 300 million dollars will be raised through two Treasury bonds -- a two-year re-opened bond with a 12 percent interest and a 15-year bond whose
yield stands at 11 percent.
Last week, the CBK accepted bids worth 200 million dollars from the three bills, over 40 million dollars than it had sought, as investors scrambled for
the securities whose interest rates range from 7 to 11 percent.
The intensified borrowing will push up Kenya's domestic debt that currently stands at 17.2 billion dollars or 29 percent of the Gross Domestic Product
(GDP).
Treasury attributes the sharp increase in internal debt to a spike in interest rates, which has made investment in debt securities attractive.
Investors have shown great interest mainly in the short-term papers as opposed to bonds, heaping pressure on repayment of yields.
The east African nation's overall public debt stands at 33 billion dollars or 60 percent of the country's GDP. The external debt comprises of 51 percent of
the total debt or 31 percent of the GDP.
The key driver of growth in external debt has been a disbursement of two-year syndicated loan from commercial banks two months ago, according to Treasury.
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BANGKOK, Feb. 10 (Xinhua) -- Thai government is considering a total ban on alcoholic beverages advertising and marketing as tacit alcohol marketing using
loopholes is popular, local media reported Friday.
The office of Alcohol Control Committee under Ministry of Public Health said overt alcoholic drinks advertisements have decreased since the Alcohol Control
Act took effect nine years ago, but producers tend to use loopholes to implement
their marketing strategies.
Thus,"a total ban on alcoholic beverages advertisement should be enforced, similar to that of cigarettes", said Samarn Futrakul, director of the office.
Alcohol advertising in Thailand is regulated by the Alcoholic Beverage Control Act, 2008. Under section 32 of the law, alcoholic beverages may not be
advertised in a manner which directly or indirectly claims benefits or promotes
its consumption, and may not show the product or its packaging.
Since the act took effect, more than 15,000 violation cases have been reported.
Violators may face a jail term of up to one year andor a fine of up to 14,285 dollars, or a daily fine of 1,428 dollars throughout the period of violation.
However, there are loopholes reflected in photos that celebrities posted on their social media pages. In a series of controversial pictures, some
high-profile celebrities were pouring beers, with the labels on the bottles
perfectly facing the camera.
Celebrities sharing drinking photos on Instagram in what seems to be a bid to encourage the public to drink the beer has raised suspicions about tacit alcohol
marketing. Netizens have questioned these kind of marketing campaign.
The Prime Minister's Office in 2015 announced that the sale of alcohol is banned by law on five religious days in Thailand. However, some restaurants keep
selling alcoholic drinks under the table during these periods.
The seven-day new year holiday at the beginning of 2017 has seen 426 deaths from road accidents, during which drink driving remained the main cause.
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