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…
Thai delivery app merger gets 3.5 billion baht boost Homegrown Thai delivery app Line Man is merging with its longtime partner, online restaurant review platform Wongnai Media. Line Man has secured fresh capital investment worth US$110 million (3.5 billion baht) from BRV Capital Management to bolster the new entity. The merger marks the first time…
Nok Air will survive despite bankruptcy: CEO Thai budget carrier Nok Air is insisting that its business will be able to return to solvency despite filing a business rehabilitation request with the Central Bankruptcy Court, shortly after national flag carrier Thai Airways did the same. Nok Air CEO Wutthiphum Jurangkool said yesterday that the impact…
Thai finance ministry slashes 2020 GDP outlook to 8.5% contraction BANGKOK (Reuters) – Thailand’s finance ministry on Thursday slashed its 2020 economic forecast to a record 8.5% contraction in gross domestic product from the 2.8% growth it projected in January, due to the impacts of the coronavirus pandemic. The ministry also cut its 2020 estimate…
Thailand Sees 8.5% GDP Contraction as Virus Ravages Economy (Bloomberg) — Thailand’s economy will likely contract 8.5% in 2020, worse than previously estimated and the biggest decline of any Asian nation this year. The Finance Ministry’s forecast, released in Bangkok on Thursday, compares with a previous projection of 2.4% growth. The central bank is estimating…
Thai envoys instructed to help spur international trade, investment and labour pacts Thai ambassadors in countries across the world have been tasked by Prime Minister Prayut Chan-o-cha to help stimulate international trade and investment and fortify labour cooperation to rehabilitate the post-pandemic economy. Government spokeswoman Narumon Pinyosinwat said the premier also requested every organisation to…
Central bank mulls severing baht’s gold link to weaken gains Thailand’s central Bank is mulling breaking the baht’s link to gold as a way to weaken it without being labelled a currency manipulator by Washington. According to US Census Bureau data, Thailand’s trade surplus surpassed US$20 billion in the 12 months up to the end…
Economics hotshot named new central bank governor A Government House source said the Cabinet on Wednesday (July 29) approved prime minister’s adviser Sethaput Suthiwart-Narueput as the new Bank of Thailand (BOT) governor. The term of the current central bank governor, Veerathai Santiprabhob, ends on September 30. Sethaput was nominated by a selection committee and handed over…
Thai firms, farmers to be taught how to tap potential of RCEP deal Thai farmers and entrepreneurs will be educated on how to utilise the benefits of the Regional Comprehensive Economic Partnership (RCEP) before the agreement is signed by member nations in November in Vietnam, Department of Trade Negotiations director-general Oramon Sapthaweetham said. There are…
Hotel bookings bounce back for long weekend holiday The long holiday weekend is reportedly seeing heavy bookings at hotels and resorts, reigniting hopes of a revival of domestic tourism, which has been battered for months by the Covid-19 outbreak. Accommodations in the southern provinces in particular have been receiving a good rate of bookings with holidaymakers for…