Thai Air Asia returns to Suvarnabhumi in addition to its Don Mueang hub Thai AirAsia is spreading its Bangkok wings and opening up a secondary hub at the main Suvarnabhumi airport (BKK), to help broaden its attraction and bolster its bottomline. Thai Air Asia was the first airline to head back to the moth-balled Don…
Thailand’s first cancer medicine factory expected to cut drug costs in half The government just sealed the deal to build Thailand’s first factory to produce cancer-treating medicine and chemicals, a move that is expected to cut treatment drug costs in half. Buying imported cancer-treating drugs is expensive. Thailand spends about 21 billion baht per year…
Air Asia seeks to mitigate economic losses with launch of “super app” Air Asia is introducing a super app, in an attempt to off-set – at least partially – the significant financial losses brought about by the Covid-19 pandemic. The app will offer users a variety of options, including digital payment services, delivery services, and…
BoT sees slower recovery in 2021 Thailand’s economic recovery is expected to take longer than previously anticipated, mainly due to the drastic decline in foreign tourist numbers, says the Bank of Thailand. The central bank slashed its GDP growth forecast for 2021 from 5% to 3.6% as the pandemic continues to hamper international travel. The…
UPDATE 2-Thai c.bank avoids further stimulus, upgrades 2020 GDP forecast * Committee votes unanimously to hold rates at record low of 0.50% * 2020 GDP forecast raised to -7.8% versus -8.1% in June * 2020 exports to fall 8.2% versus -10.3% seen earlier * Further rate cuts unlikely, economists say (Adds details, analysts’ comments) BANGKOK,…
Thailand’s Economy and the Pandemic: Facing Delays and Difficult Choices Thailand is one of the few countries that can claim to have restricted the internal spread of COVID-19 so far. The country has yet to reach 3500 total cases, with limited deaths, currently at 58. A timely border closure supported by initiatives that were broadly embraced by…
Thailand to focus on socio-economic recovery in the next two years Thai Prime Minister Prayut Chan-o-cha has underscored that the country’s economic and social development plan over the next two years should focus primarily on community-level economic development, enhancing competitiveness, upgrading human resources and infrastructure development. Bangkok (VNA) – Thai Prime Minister Prayut Chan-o-cha has underscored…
4 Thai banks to be investigated for “suspicious transfers” after FinCEN files report 4 Thai banks are being investigated after an international money laundering report said the Thai banks had “suspicious financial transactions.” The report found 92 “suspicious” transactions in and out of Thailand totalling to $9,558,752 USD received in Thailand and $31,750,000 USD sent…
Thai hotels concerned extra holidays may not benefit all As the Cabinet confirms two additional long weekends in November and December, the country’s hotels are concerned that not all operators will benefit. The extra holidays, running from November 19 to 22, and from December 10-13, are being introduced to further boost domestic tourism. Although they…
Thai cabinet adds 2 more 4-day long weekends A holiday-led economic recovery. That appears to be a part of the government’s agenda following yesterday’s meeting of the Thai cabinet. 2 new holiday weekends have been created, one in November, one in December, in efforts to further stimulate the economy. In both cases the extended weekends…