Thailand’s GDP forecast to fall up to 9% this year Thailand’s GDP is set to fall 7-9%, year-on-year, according to the Joint Standing Committee on Commerce, Industry and Banking. The fall is, not surprisingly, being fallout from the catastrophic drop in tourism and lower exports. Kalin Sarasin, chairman of the Board of Trade of Thailand,…
Consumer confidence up in June, but still lowest in 21 years Overall confidence in the economy, job prospects and revenue was also up compared to June, with only confidence in politics continuing a downward trend for the 17th month. BANGKOK (NNT) – Aid measures, and the fifth phase easing of COVID-19 restrictions, allowed consumer confidence…
Thailand unveils new cabinet with economic czar from PTT group Appointments show Prayuth’s priority is to restructure COVID-hit state entities BANGKOK — Prime Minister Prayuth Chan-ocha’s government on Thursday announced it had handed key positions in the energy and finance departments to former executives in a state-owned company and a commercial bank, in a reshuffle…
Nok Air blames some of its losses on MPs who don’t show up for flights Part of Nok Air’s current losses are being blamed on privileged MPs, who receive free flights on the budget carrier but don’t turn up for their flights. Somboon Uthaiwiankul, secretary for the government’s House Speaker, says the issue was brought…
Thailand’s Charoen Pokphand family ranked 21 on world’s rich list Bloomberg has released its list of the world’s wealthiest, and the family behind Thailand’s Charoen Pokphand Group sits at number 21. The CP conglomerate is one of the world’s largest, operating across multiple sectors, including food manufacture, agriculture, retail, and telecommunications. It has stakes in…
Thailand’s GDP to shrink from 9.4 to 11.4 percent The Thai Chamber of Commerce (UTCC) has predicted that the Thai GDP this year will shrink between 9.4 to 11.4 percent due to the COVID-19 pandemic. The Center for Economic and Business Forecasting (CEBF) of the University of the Thai Chamber of Commerce (UTCC) has predicted…
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…