Thai central bank revises down 2021 growth to 3.0% Bank maintains policy rate but provides new $11 billion aid to business Bangkok — The Bank of Thailand revised down its 2021 growth forecast, as the resurgence of COVID-19 in Southeast Asia’s second largest economy over the last few months had led to the closure of…
Why Thai Firms Should Care About the Career Stage of China’s Officials In Chinese bureaucracy, large-scale leadership turnover happens every five years, right on the heels of the Party’s National Congress: think of it as a window of opportunity for promotions, but with a few constraints Governments typically set a wide range of goals. This…
Thai shabu-shabu restaurant attracts customers with fresh marijuana leaves local shabu-shabu restaurant is attracting customers with marijuana dishes. Supatra Duang-nga, the owner of the restaurant, said that after marijuana was excluded from the government’s list of narcotics, she started to use marijuana as an ingredient for many dishes including soup, spicy salad and ground pork…
Risk-Averse Thai Investors Clash With Central Bank’s Baht Goals (Bloomberg) — The Bank of Thailand is scrapping obstacles for Thais to invest directly in foreign equities in an effort to stall the baht’s relentless rally, but will need to overcome locals’ traditional risk aversion for the program to succeed. Regulatory changes include raising the cap…
Exports show first uptick in eight months as global economy revives, beating estimates Thailand’s exports value in December gained year-on-year for the first time in eight months, by 4.71 per cent to USD 20.08 billion, beating market estimates of an 1.3 – 2.4-per-cent contraction, the Ministry of Commerce said on Friday. The exports figure hit…
Struggling massage parlours petition government for financial assistance Representatives of Thailand’s spa and massage parlour industry are pleading with the government to provide some form of tailored financial aid to offset the impact of Covid-19. Yesterday, the Charawi Association for the Conservation of Thai Massage submitted a letter to PM Prayut Chan-o-cha, who also chairs…
Thai interest rate unchanged but central bank cuts GDP outlook Bank of Thailand trims 2021 growth forecast to 3.2% due to sluggish tourism BANGKOK (Reuters) — Thailand’s central bank left its key interest rate unchanged at a record low on Wednesday but downgraded its 2021 economic outlook as the tourism-reliant country deals with a fresh…
Thai central bank announces series of measures to contain baht rise BANGKOK (CNA) – Thailand’s central bank unveiled yesterday new measures aimed at balancing capital flows after warning a rapid jump in the baht risked undermining the economy amid renewed inflows into emerging markets. The Bank of Thailand will allow Thais to freely deposit and…
Thais, Russians aim for US$10bn in trade by 2023 Thailand and Russia have agreed to raise bilateral trade to US$10 billion in 2023, in part to help reboot the economy after the Covid-19 outbreak. Speaking after Thursday’s video conference with Vladimir Ilichev, Russia’s deputy minister of the Economic Development Ministry, during the fourth meeting of…
TLAA wants OIC to widen insurers’ investment options The Thai Life Assurance Association (TLAA) has requested the Office of the Insurance Commission (OIC) study the feasibility of allowing insurers to invest in a wider range of funds and bonds to take advantage of the low-interest-rate environment. The move would green-light investment in infrastructure bonds, non-listed…