Seven million Thai farmers receive 5000-baht subsidies BANGKOK (NNT) – The Bank for Agriculture and Agricultural Cooperatives (BAAC) has transferred subsidies to 7.1 million farmers and accelerated correction of incorrect bank account details of 214,000 farmers. Mr. Somkiat Kimawaha, BAAC assistant manager, said at the end of May, 5000-baht subsidies, worth 35.51 billion baht in…
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…
Bank cuts Thai 2020 GDP growth outlook to 2.7% SCB’s Economic Intelligence Center (EIC) has released its latest growth forecast, at 2.7 percent, showing a slow recovery from just 2.5 percent economic growth in 2019 SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020…
New land tax forces land owners to evaluate their options The new Land and Property Tax, which takes effect in January 2020, will be a challenge for the Thai property market, according to the managing Director of CBRE Thailand. In an open report to the media, CBRE says owners of vacant sites will pay significant…
Asian Development Bank drops growth forecast for Thailand “The bank forecasts a slightly higher growth rate at 3.2% next year, due largely to infrastructure investment in the Eastern Economic Corridor.” The Asian Development Bank is lowering its growth forecast for Thailand’s economy from 3.9% to 3% but is optimistic that conditions will improve next year.…
Large Thai business feeling the effects of US-China trade war, rise of the baht So what do Thailand’s big banks say? The ongoing US-China trade war and the appreciation of the Thai baht against other currencies is now starting to impact larger corporates in Thailand. Wasin Saiyawan, senior executive vice president and chief of wholesale…
Thailand slashes 2019 exports estimates as trade war escalates Thai exporters are expected to pay a heavy price as the ramping up of the US-China trade war continues. The US has now launched a new round of tariffs on Chinese imports. Last Friday US President Donald Trump tweeted: “Talks with China continue in a very…
Government urged to implement new economic stimulus measures Bangkok – The Director of the UTCC’s Economic and Business Forecasting Center, Thanavath Phonvichai, says that the 25% tariff imposed by the US on Chinese goods could have an adverse impact on the global economy already facing a slowdown. The UTCC projected that Thai exports will grow by…
SMEs found expanding markets, raising sales, gaining access to loans BANGKOK, 1 May 2019 (NNT)- University of the Thai Chamber of Commerce has unveiled the results of a poll with 1,200 respondents on the upgrade of small and medium-sized enterprises with mostly focusing on quality standard verification labels. The poll has found 44.31% of the respondents already has quality standard verification labels which have…
Thais spend Bt250 billion annually on lottery and lotto At least twice a month –- on the first and sixteenth days – millions of Thais hope and pray that their fortune will change. They are glued to their TV set or mobile phones, anxiously waiting for lottery results praying for a miracle. Thais are increasingly…