U-Tapao airport maintenance facility going ahead despite obstacles U-Tapao Rayong-Pattaya International airport is going ahead with its proposed Maintenance, Repair and Overhaul project, despite Thai Airways entering bankruptcy, according to the secretary general of the Eastern Economic Corridor Office. The 11 billion baht project to has already been approved by the Cabinet and a contract…
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…
Thai Economy shrinks 1.8% in first quarter BANGKOK (Reuters) – Thailand’s economy contracted at its sharpest pace in eight years in the first quarter, pushing Southeast Asia’s second largest economy into recession sooner than expected, as the coronavirius pandemic hit tourism and domestic activity. The state planning agency, reporting January-March data on Monday, slashed its…
Thai economy shrinks at fastest pace in eight years Thailand’s economy contracted 1.8 percent in the January-March period from a year earlier, the sharpest fall in eight years in the first quarter, mainly due to the COVID-19 pandemic’s impact on tourism and domestic activity. Hanoi (VNA) – Thailand’s economy contracted 1.8 percent in the January-March period from a…
Thai GDP drops nearly 2% in first quarter The Thai economy’s slumped by nearly 2% year-on-year during Q1, 2020. In it’s full-year forecast, the National Economic and Social Development Council forecasts that the Thai GDP would drop 5-6% for the year. As a comparison, the economy tanked 7.6% during the 1997 financial crisis. The Gross Domestic Product…
Thai company steps up to ease condom shortage A shortage of condoms is one thing. A shortage of condoms while people around the world are stuck at home is another. Since a top condom manufacturer in Malaysia halted production due to the coronavirus pandemic, a Thai company is now stepping up to fill the gap.…
Thai Airways files for bankruptcy protection Despite Thai Airways issuing a press statement and taking to social media to deny rumours it intends to file for bankruptcy, various media reports appear to confirm the struggling carrier will file for Chapter 3/1 of the Corporate Reorganisation section of the Bankruptcy Act. This is the Thai equivalent…
“Thai Airways will survive”. Emergency meeting next Wednesday. “Thai Airways will not collapse. The fact that Deputy PM Somkid stepped in to handle the issue means the government will rescue it.” It’s no secret that Thailand’s national carrier has been a financial basket case for over a decade, bleeding money and marketshare as the years…
Loophole closed – more unemployed to receive payments from Thai government The loophole for employees whose businesses were not ordered to close, but are still affected by Covid 19 pandemic, has finally been addressed. The Thai Ministry of Labor secretary Sutthi Sukosol says that compensation will be similar to what employees whose businesses were ordered…
Thai Cabinet approves Measures to Ease Economic Impact of COVID-19 The Thai government has approved Phase Two of a series of financial and fiscal relief measures to mitigate the negative economic impact on employers and employees in the sectors most affected by the outbreak of COVID-19 To mitigate the negative economic impact on employers and…