UTCC: 11.4% contraction in GDP forecast for 2020 Thailand’s economy is likely to contract by as much as 11.4% this year, its worst showing, attributed largely to the pandemic impact, volatile foreign exchange, widespread drought and the continued US-China trade spat. Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce, said the…
Foreign chambers pin faith in post-reshuffle team to revive economy The foreign chambers of commerce in Thailand are hoping that the government’s new economic team will come up with measures to stimulate the economy after the Covid-19 situation improves. Stanley Kang, chairman of the Joint Foreign Chambers of Commerce in Thailand (JFCCT), the umbrella body…
Price of gold rises but investment not without risks A leading investment research firm says the price of gold is on the rise, with predictions bullion could reach US$2,000 an ounce. Chayanee Juengmanon from Morningstar Research Thailand says one exchange-traded fund favoured by most domestic gold mutual funds, recorded net inflows of over $20 billion…
Thai Airways to operate repatriation flights to Denmark, Taiwan Thai Airways has arranged 2 repatriation flights to Taipei and 2 to Copenhagen this month, to bring back foreign nationals who were stranded by the Covid-19 pandemic. The airline’s acting president says the Taiwan flights will fly on August 5 and 14, leaving Suvarnabhumi Airport at 8:25am and…
Thai delivery app merger gets 3.5 billion baht boost Homegrown Thai delivery app Line Man is merging with its longtime partner, online restaurant review platform Wongnai Media. Line Man has secured fresh capital investment worth US$110 million (3.5 billion baht) from BRV Capital Management to bolster the new entity. The merger marks the first time…