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…
First airplane food cafe, now Thai Airways opens fried dough stand Since not much is happening in the air, Thai Airways is running new business schemes on the ground. For their newest venture, the company opened a deep fried dough street food stand. They say the fried dough with taro custard is an “award winning”…
Struggling airlines to get reprieve through small loans, extension to fuel tax cut Airlines in Thailand are being offered a financial lifeline, as the Government Savings Bank announces soft loans for carriers left struggling as a result of the current Covid-19 ‘disruption’. Nation Thailand reports that the GSB is offering the loans over a 60…
Department of Trade Negotiations pushes ahead utilisation of RCEP privileges As the 15 Regional Comprehensive Economic Partnership (RCEP) members are preparing to sign an agreement this November in Vietnam, the Department of Trade Negotiations is explaining how to make the most of RCEP and deal advantageously with its impacts in terms of competition among farmers,…
Confidence index in August hits highest level in a year, as mood on economy improves The Thai Chamber of Commerce Confidence Index for August saw its first rise in 12 month, moving up to 32.6, from 31.8 in July, said Thanawat Polvichai, the director of the University of the Thai Chamber of Commerce’s Centre for…
Nokia builds on 5G for enterprise use Thailand is well into its first phase of 5G development, focusing on using the technology for enterprise solutions in Bangkok and the Eastern Economic Corridor (EEC). The country will still need time before consumers adopt the technology en masse because of the high price of 5G-compatible smartphones, said…
Experts weigh impact of Bt51bn stimulus on Thai stocks Experts say the government’s latest stimulus injection of Bt51 billion will affect the stock market – but only slightly. On Wednesday, the Centre for Economic Situation Administration (CESA) approved the Bt51 billion injection via two schemes for mainly low-income citizens. In the first scheme, 14 million…
Thai economy likely to continue shrinking until Q1 2021 – RHB Research By Linda Khoo Hui Li BANGKOK, Sept 17 – Thailand’s economy is likely to stay in contraction until the first quarter of 2021, said RHB Research Institute Sdn Bhd. In a note today, the research house said the country’s economic activities were starting to…