Thailand loses US free trade benefits worth billions of baht Thailand loses duty free access for 42.2 billion baht in exports to the US market from today, 6 months after Washington warned it would pull back on trade privileges unless the kingdom committed to labour rights reforms. Once trade preferences for Thai products are removed they are…
“Thai Airways will survive”. Emergency meeting next Wednesday. “Thai Airways will not collapse. The fact that Deputy PM Somkid stepped in to handle the issue means the government will rescue it.” It’s no secret that Thailand’s national carrier has been a financial basket case for over a decade, bleeding money and marketshare as the years…
Jobless Thais queue for food as pandemic hits economy Thais are becoming increasingly desperate as the pandemic destroys the economy and the government struggles to respond. Long lines of unemployed relying on free food across Bangkok, scrambles for cash handouts and fishing in fetid canals — Thais are getting increasingly desperate as the pandemic destroys…
Loophole closed – more unemployed to receive payments from Thai government The loophole for employees whose businesses were not ordered to close, but are still affected by Covid 19 pandemic, has finally been addressed. The Thai Ministry of Labor secretary Sutthi Sukosol says that compensation will be similar to what employees whose businesses were ordered…
IMF sees Thailand’s growth down 6.7 percent in 2020 The impact of the coronavirus on the Asia Pacific region will be severe and unprecedented says IMF, and Thailand could stand as the worst performer with a 6.7% GDP drop. Covid-19 crisis could be worse than the Global Financial Crisis, and Asia is not immune, says…
March inflation hits 51-month low at -0.54 percent March 2020 inflation rate receded to 0.54 percent, marking the first recession in 33 months and the lowest inflation rate in 51 months. The inflation rate of the Thai economy has been reduced sharply by lower oil prices and a lesser demand for goods due to the…
Thailand’s export to contract by 7% in 2020 Thailand’s exports could shrink as much as 7% in 2020 showing its worst performance in a decade, or 3.7% if the Covid-19 crisis is contained before September. The Bank of Thailand and the Center for International Trade Studies at the University of the Thai Chamber of Commerce…
The post-Covid-19 era: Radical changes in Bangkok’s property market Property consultants CBRE have come up with their own evaluation of the current Bangkok office market, already getting pounded by regional trends and a high baht, now suffering another challenge – the Covid-19 coronavirus outbreak. They report that this situation will “create another split in our…
Covid-19 to cut Asian growth to 2.2%, Thailand -4.8% (ADB) Restrained largely by slowing exports, Thailand posted paltry growth at 2.4% last year. GDP growth is likely to slow further to –4.8% this year but could pick up to 2.5% in 2021. Regional economic growth in developing Asia will decline sharply in 2020 due to…
BOI Announces Measures to Facilitate Investors Affected by COVID-19 Situation The Thailand Board of Investment (BOI) said in a statement that it remains as committed as ever to serve the needs of investors, and announced practical measures to ensure the continuity of service to support companies The Thailand Board of Investment (BOI) said in a…