Private sector lowers economic forecast amid Covid surge The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) on Wednesday downgraded Thailand’s economic growth projection to a range of 1.5 to 3 per cent, dragged down by lower purchasing power and employment rate. The JSCCIB’s outlook was lower than the previous one in March of…
Banks to control asset quality The Thai banking industry is expected to remain cautious in controlling asset quality amid economic turbulence brought about by the Covid-19 pandemic. Pasakorn Wangvivatcharoen, research manager at Asia Plus Securities, said local banks showed signs of improving fee-based income from securities and asset management business. “Despite setting aside a massive…
Thailand bans domestic flights between 11pm – 4am The Civil Aviation Authority of Thailand (CAAT) is calling for the suspension of all domestic flights between 11pm and 4am in order to tackle the new wave of Covid-19. CAAT Director-General Suttipong Kongpool said the CAAT wants airports and airlines to bring all domestic flights in line…
Thailand promotes ‘work from home’ requirement as ‘office clusters’ increase Thai government is urging all sectors to comply with the new COVID-19 restrictions by supporting work-from-home schemes where possible as Thailand logged another daily record number of COVID-19 cases at 1,767 on Sunday Centre for COVID-19 Situation Administration (CCSA) spokesman Dr Taweesilp Visanuyothin cited research…
Committee on commerce, industry and banking expects drop in GDP of 0.5% to 1% in 2021 BANGKOK (NNT) – The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has said that Thailand can expect a drop in GDP of 0.5% to 1% if the government is able to control the new Covid-19 wave by…
Bank of Thailand to introduce assistance measures amid COVID-19 surge BANGKOK (NNT) – The Bank of Thailand (BoT) is ready to introduce necessary assistance measures in addition to recent support schemes, which the government approved financial measures worth 350 billion baht to help business cope with the outbreak impact. BoT Deputy Governor Ronadol Numnonda said…
Bitcoin sheds nearly 15% of its ‘value’ in one day After a meteoric, and probably unsustainable rise and rise over the past 12 months, Bitcoin has suffered a short and sharp mini-crash over the weekend, dropping nearly 15% of its value in less than an hour – a stark warning of the cryptocurrency’s unpredictable volatility.…
Thailand denies manipulating exchange rate to gain unfair trade advantage The Bank of Thailand (BoT) has asserted that it has stepped into the market only to curb volatility in the baht, and Thailand has never used the exchange rate as a tool to gain an unfair trade advantage. BoT assistant governor Chantavarn Sucharitakul said the…
Thailand will close banks in high-risk areas, ATMs and online services still operational The Thai Bankers Association has released the guidelines to maintain continuous banking services as well as reduce the risk of spreading Covid-19. These measures are being put in place for the safety of employees and services will return to normal as soon…
Thailand central bank unfazed by US currency watchlist inclusion Bank of Thailand headquarters buildings in Bangkok. Thailand’s central bank has responded to the US decision to keep the nation on watch for currency manipulation by asserting it has stepped into the market only to curb volatility in the baht. Bloomberg/Bangkok The Bank of Thailand has…