Standard Chartered Bank forecasts 2 year economic recovery for Thailand Standard Chartered Bank says that it remains conservative on Thailand’s economic outlook, even though signs are emerging with the possibility of a further policy rate cut to below 0.25%. Their latest report forecasts a return to pre-Covid levels could take more than 2 years depending…
Thailand may lose 2 million jobs due to coronavirus: Planning agency BANGKOK (REUTERS) – Thailand may lose up to 2 million jobs this year, particularly in the tourist industry, as the novel coronavirus outbreak undermines economic activity, the state planning agency said on Thursday (May 28). About 8.4 million people are at risk of losing their jobs…
Thai economy could take more than 2 years to recover: Standard Chartered Standard Chartered Bank today (May 28) said it remains conservative on Thailand’s economic outlook, even as positive signs emerge with the possibility of a further policy rate cut to below 0.25 per cent. The return to pre-Covid levels of economic activity could take…
Thai parliament urged to pass record 1.9t baht virus stimulus bill [Bangkok] Thailand’s premier on Wednesday urged parliament to approve the kingdom’s biggest-ever stimulus package to revive an economy battered by coronavirus, which has brought tourism to a standstill, slashed exports and left millions jobless. The 1.9 trillion baht (S$84.4 billion) package would be a…
U-Tapao airport maintenance facility going ahead despite obstacles U-Tapao Rayong-Pattaya International airport is going ahead with its proposed Maintenance, Repair and Overhaul project, despite Thai Airways entering bankruptcy, according to the secretary general of the Eastern Economic Corridor Office. The 11 billion baht project to has already been approved by the Cabinet and a contract…
Thailand’s property market set to experience brokerage megashift It’s clear that Thailand’s real estate sector is expected to undergo a megashift as a result of the Covid-19 pandemic and search for a ‘new normal’, if that’s even possible. That said, one of the country’s leading PropTech groups FazWaz says the crisis has only accelerated dynamic charges to…
Second company in Thailand to be granted license to import natural gas In a step to cut down energy costs, Thai Gulf Energy Development Company says that they have obtained a government license to import up to 1.7 million tonnes of liquefied natural gas (LNG) per year. As Thailand moves to free up its natural gas…
Thai economy to return to normal in three years The Thailand Development Research Institute (TDRI) has forcast that Thailand is likely to take up to three years to return to normal economic conditions similar to 2019. Bangkok (VNA) – The Thailand Development Research Institute (TDRI) has forecast that Thailand is likely to take up to three years to…
Thai Airways union says it won’t oppose bankruptcy proceedings “We opposed this position before but after reexamination, we have to show creditors that Thai Airways will genuinely follow the restructuring plan. Including adjustments to the board and staff.” In an abrupt reversal, the president of Thai Airways’ labour union announced yesterday that the union won’t…
Chamber of Commerce urges businesses to reopen under New Normal BANGKOK(NNT) – The Thai Chamber of Commerce estimates that a prolonged COVID-19 pandemic will cause 10 million Thais to lose their jobs. Meanwhile businesses must adjust themselves to the New Normal, as the health crisis is expected to last for at least a year. The…