Bank for Agriculture to Offer Debt Moratorium for up to One Year BANGKOK (NNT) – The Bank for Agriculture and Agricultural Cooperatives (BAAC) will offer a debt moratorium, from six months to a year, to indebted clients who are farmers, cooperatives, village funds or agricultural communities as of 1 April 2021. BAAC manager Thanarat Ngamwalirat…
Commerce Ministry Plans Online Trade Fairs to Boost Exports BANGKOK (NNT) – The International Trade Promotion Department plans to host more virtual trade fairs and online business activities, to boost the country’s exports in the second half of the year amid COVID-19 outbreaks. Department Director-General Somdet Susomboon said the agency is preparing a schedule of…
Thailand’s airlines call for meeting with PM to discuss soft loans The Thai Airlines Association says 7 member airlines are pushing for a meeting with PM Prayut Chan-o-cha to discuss the option of soft loans. The carriers have been seeking this financial aid for some time and have even decreased the amount being asked for,…
Bangkok’s Union Mall will close until May 27, casualty of Covid-19 In another sign of Thailand’s Covid-19 battered economy, the Union Mall in Bangkok has announced that it will close temporarily, purportedly for Covid-19 safety but likely because of a lack of customers during the pandemic. The mall, in Ladprao opposite the Central Ladprao shopping…
Air travel is estimated to drop by 38% in 2021 BANGKOK (NNT) – Aeronautical Radio of Thailand (Aerothai) has lowered its estimates of total domestic and international air travel in 2021 to 323,093 flights, a 38% reduction from its 518,790 flights estimate at the start of the year. Aerothai vice-president Thinnakorn Chuwong said the rising…
Thailand Consumer Confidence Index hits record low The University of the Thai Chamber of Commerce has reported that the Consumer Confidence Index has hit another new record low of 46.0 in April. The Covid-19 global pandemic has had a devastating effect on the economy and consumer confidence has fallen frequently to the lowest points that…
Bank of Thailand Keeps Key Interest Rate at Record Low BANGKOK (NNT) – The Bank of Thailand (BoT) has kept its key interest rate unchanged, keeping it at a record low of 0.5% on Wednesday, as the economy struggles with a third wave of COVID-19. The central bank said in a statement that economic growth…
UPDATE 2-Thai c.bank keeps policy rate at record low, warns of COVID-19 risks * Central bank holds key rate at record low 0.50%, as expected * Says economy to expand sharply less than forecast this year * Says monetary policy to remain accommodative * Says fiscal policy, exports to support economy (Adds GDP scenarios, analyst…
Thailand Plans $7.2 Billion Stimulus to Rescue Virus-Hit Economy (Bloomberg) — Thailand is planning to spend billions of dollars in providing financial relief to low-income groups to cope with the economic hit from the biggest Covid-19 outbreak sweeping the nation since the pandemic began. The cabinet gave in-principle approval on Wednesday for fiscal stimulus measures…
A $45 Billion Manager Says Thai Stocks Face Hurdles Over Worst Virus Outbreak (Bloomberg) — Follow Bloomberg on LINE messenger for all the business news and analysis you need. Thai equities face new hurdles as the country’s worst Covid-19 outbreak will further squeeze corporate earnings and delay an economic recovery, according to Thailand’s second-biggest private money…