Thailand creates new economic centre to recover COVID-19-hit economy The Thai cabinet on August 13 agreed to establish a centre to address the economic situation heavily battered by the COVID-19 outbreak. Bangkok (VNA) – The Thai cabinet on August 13 agreed to establish a centre to address the economic situation heavily battered by the COVID-19 outbreak. The economic…
Consumer confidence up in June, but still lowest in 21 years Overall confidence in the economy, job prospects and revenue was also up compared to June, with only confidence in politics continuing a downward trend for the 17th month. BANGKOK (NNT) – Aid measures, and the fifth phase easing of COVID-19 restrictions, allowed consumer confidence…
Thailand’s Charoen Pokphand family ranked 21 on world’s rich list Bloomberg has released its list of the world’s wealthiest, and the family behind Thailand’s Charoen Pokphand Group sits at number 21. The CP conglomerate is one of the world’s largest, operating across multiple sectors, including food manufacture, agriculture, retail, and telecommunications. It has stakes in…
Thailand’s GDP to shrink from 9.4 to 11.4 percent The Thai Chamber of Commerce (UTCC) has predicted that the Thai GDP this year will shrink between 9.4 to 11.4 percent due to the COVID-19 pandemic. The Center for Economic and Business Forecasting (CEBF) of the University of the Thai Chamber of Commerce (UTCC) has predicted…
Foreign chambers pin faith in post-reshuffle team to revive economy The foreign chambers of commerce in Thailand are hoping that the government’s new economic team will come up with measures to stimulate the economy after the Covid-19 situation improves. Stanley Kang, chairman of the Joint Foreign Chambers of Commerce in Thailand (JFCCT), the umbrella body…
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…
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…
Federation of Thai Industries says unemployment could hit 8m The prolonged Covid-19 pandemic will likely leave up to 8 million people unemployed by the end of this year, says the Federation of Thai Industries. The economy in the second half of 2020 will not fully recover because the stimulus packages will take time to boost…
Thailand: Optimism In Deep South Despite Spike In Violence And Covid Crisis – Analysis Despite an intensive outbreak of Covid-19 infection clusters within the Thai Deep South, and a sudden spike in violent attacks by separatists, the region continues to display strong economic vibrancy. Major outbreaks of Covid-19 occurred in Yala and Patani, sparked by…
2020 Thai rice exports may hit 20-year low BANGKOK(NNT) – With the strong Thai baht, and the lack of development, Thailand was only able to export 3 million tons of rice in the first half of 2020. The Thai Rice Exporters Association has projected a grim outlook, reporting that the overall Thai rice export quantity…