Search Results for: domestic political issues
- Business News
Political risks threaten foreign investment in Thailand
Siam Commercial Bank (SCB) EIC Research Centre warns that heightened political risks are casting a shadow over foreign investment in Thailand’s financial, capital, and long-term direct investment markets EIC Chief Economist Somprawin Manprasert warned that various political risks and uncertainties could significantly impact foreign investor confidence and lead to substantial capital outflows from offshore investors in the Thai equity market.…
- Business News
Bonding issues: Political turmoil shakes Thai investor confidence
Thailand’s escalating political risks are making foreign investors hesitant about the nation’s bond market, despite a cautious return in May after a six-month break. In May, global funds bought US$511 million worth of Thai bonds, a notable difference compared to larger acquisitions in Indonesia, India, and South Korea. Comparative indicators of foreign investment show Thailand lagging behind its regional counterparts.…
- Thailand video news
Thailand Video News | Political activist dies after 65-day hunger strike, Woman suffers panic attack after Isaan rocket lands on lawn
In this Thailand video news, Alex and Jay unfold stories from across the country. Beginning with the nation mourning the loss of a political activist who succumbed after a 65-day hunger strike, the report highlights the intense political struggles within the country. Meanwhile, a woman in Isaan suffered a severe panic attack when a stray rocket landed on her lawn,…
- Economy News
Thai tourism unaffected by political unrest unless airports shut, says ex-minister
In times of political upheaval, Thailand’s foreign tourists would not be significantly impacted, unless there was an incident akin to 2008’s airport disruption, according to former tourism and sports minister, Weerasak Kowsurat. Back in 2008, protesters had shut down Bangkok’s airports leading to a drop in tourist visits, impacting Thai tourism. Weerasak, now serving as a senator, insists that tourists…
- Phuket News
Renowned Political Analyst Thitinan Pongsudhirak speaks to Phuket
PHUKET: Dr Thitinan Pongsudhirak Director of the Institute of Security and International Studies at Chulalongkorn University and a former op-ed contributor to the Phuket Gazette, spoke to the island’s International Business Association last week. In an exclusive interview before that talk, he sat down with Phuket Gazette News Editor Stephen Fein and News Manager Chris Husted to discuss several issues…
- Business News
Finance Ministry to fast-track NPL debtor blocklist removal
The Finance Ministry is set to engage in discussions with the Bank of Thailand and the National Credit Bureau (NCB) to address the issue of non-performing loans (NPLs) caused by the Covid-19 pandemic, specifically targeting Code 21 debtors. The aim is to expedite the removal of these debtors from the bureau’s blocklist, enabling quicker access to credit. Deputy Finance Minister…
- Thailand News
Thailand’s tourism sector remains stable despite court ruling, says TCT president
The Tourism Council of Thailand (TCT) president, Chamnan Srisawat, has reassured that the Constitutional Court ruling will not destabilise the government or the country’s tourism sector. He confidently stated that international tourism demand would remain unaffected unless there was severe violence. Chamnan credited Prime Minister Srettha Thavisin’s government with beneficial tourism-driving initiatives, such as visa-free travel for high-potential markets. Despite…
- Business News
Visionary dentist bridges gap in Phuket dental market
PHUKET: Medical tourism and the hordes of foreign customers it brings to Thailand and Phuket’s shores is on a steady rise, with the Tourism Authority of Thailand reporting more than 2.5 million international patients travelling to the Kingdom for treatments in 2012 and predicting an increase of 13% per annum. One dental clinic conglomerate, Dental Corporation Co Ltd, started filling…
- Thailand News
Pheu Thai tries to regain public confidence after unfulfilled promises
Pheu Thai faces significant challenges as it struggles to regain public confidence amid unfulfilled economic promises. Just a year ago, many Thais were optimistic that Pheu Thai’s return to power would alleviate the nation’s economic difficulties by boosting consumer purchasing power, reducing household debt, and reversing slowing economic growth. Pheu Thai’s election campaign emphasised economic policies, promising to achieve an…
- Thailand News
Thailand faces ‘invisible time bomb’ population crisis
Thailand’s population crisis, described as an “invisible time bomb,” requires urgent government intervention, according to Varawut Silpa-archa, the Minister of Social Development and Human Security (MSDHS). Varawut stated the following during a forum on national strategies hosted by the National Press Council of Thailand on Thursday, July 4. “Environmental issues are visible, but this [population crisis] is an invisible time…
- Thailand News
Bombshell verdict: Srettha and MFP face the music in September
The Constitutional Court is set to deliver a landmark decision by September that could potentially see Prime Minister Srettha Thavisin dismissed and the opposition Move Forward party (MFP) dissolved, according to the court’s president. In a press briefing, Court President Nakharin Mektrairat confirmed that rulings on both high-stakes cases would be made by September. Last month, the court scheduled the…
- Thailand News
Thailand and Singapore bolster regional stability through civil ties
Singapore and Thailand’s foreign ministers affirmed that enhanced civil service collaboration will deepen bilateral ties and contribute to regional development. Speaking at the 14th Civil Service Exchange Programme (CSEP), co-hosted by the Thai and Singaporean foreign affairs ministries, officials highlighted the importance of sharing knowledge and best practices among civil service officers from both nations. The ministers emphasised that such…
- Thailand News
PM Srettha’s TV premier: Another propaganda show?
Thailand Prime Minister Srettha Thavisin is set to make his TV debut as the host of Talk with Srettha tomorrow, June 22, nearly 10 months after assuming office. This tradition of Thai leaders hosting TV shows to address the nation, dubbed “the prime minister meets the people,” has a storied history. But will Srettha’s show bring something new to the…
- Business News
Thai industries sentiment index drops to 88.5 as layoffs rise
Thai Industries Sentiment Index (TISI) experienced another decline in May, dropping to 88.5 from April’s 90.3 points, as 15,000 workers have been laid off since the beginning of the year, according to the Federation of Thai Industries (FTI). Layoffs in the first five months of 2024 emerged as the TISI, which measures the manufacturing sector’s health, fell for the second…
- Business News
Bank of Thailand’s independence crucial for economic stability
Economists emphasise the importance of the Bank of Thailand’s independence in its mission to maintain economic stability. They note that while interest rates have a negligible effect on bolstering economic growth, they could influence the stability of the baht and trigger an increase in household debt. Despite persistent appeals from Prime Minister Srettha Thavisin for a collaborative effort between monetary…
- Business News
Thai economy struggles post-election, foreign investment declines
Thailand’s economy continues to struggle despite the first General Election since 2019, which was anticipated to stimulate growth and attract foreign investors. Instead, the nation has seen its benchmark stock index decline for the fifth quarter consecutively, foreign investment is waning, and the baht is showing the second-worst performance amongst Asian currencies. According to Narongsak Plodmechai, CEO of SCB Asset…
- Business News
Chamber of Thailand calls for cut in interest rates to boost recovery
The Thai Chamber of Commerce (TCC) expressed its expectations for the Bank of Thailand to consider a reduction in interest rates in its forthcoming meeting. The TCC argues that although the economy is on a recovery trajectory, it remains susceptible to various challenges. Sanan Angubolkul, the chairman of the chamber, acknowledged the decisions made by the Monetary Policy Committee (MPC)…
- Thailand News
Thailand’s economy set for 3.3% growth amid global uncertainties
Thailand’s economy is projected to grow by 3.3% this year, despite vulnerabilities from international politics, foreign wars, and unrest in neighbouring countries. These factors pose risks to the nation’s export sector. Tawee Piyapatana, the Senior Vice President of the Federation of Thai Industries, expressed concerns after representing the chair at a Joint Standing Committee on Commerce, Industry and Banking (JSCCIB)…
- Business News
Thailand’s investment applications surge to five-year high in 2023
Thailand’s investment promotion applications in 2023 skyrocketed to a five-year high of 848 billion baht, marking a 43% increase from the adjusted figure of the previous year. The surge was powered by significant foreign investments in the five priority sectors identified in the Board of Investment’s (BoI) fresh Investment Promotion Strategy. Contributing to this colossal growth in Thailand’s foreign direct…
- Business News
Optimism for Thai stock exchange rebound despite US economic downturn
InnovestX Securities, part of the SCB X Group, expressed optimism about the rebound potential of the Stock Exchange of Thailand (SET) index. The company predicts the index could approach 1,700 points this year, driven by stabilising global interest rates and domestic economic stimulation efforts. The first quarter of 2024, however, could be marked by volatility, with possible economic downturns in…
- Thailand News
NESDC: China’s economic slowdown could have significant effect on Thailand
Thailand is on high alert as the National Economic and Social Development Council (NESDC) closely monitors the ripple effects of China’s economic deceleration. Despite initial projections, China’s sluggish growth last year has cast shadows over Thailand’s economic prospects for the coming year. NESDC’s chief, Danucha Pichayanan, predicts Thailand’s economic expansion in 2024 to hover between 2.7% and 3.7%, with a…
- Thailand News
Malaysia’s economic miracle: 2024 boom predicted with a twist
RAM Rating Services Berhad reveals Malaysia‘s economic future, promising significant growth next year. RAM Rating Services Berhad said in its Economic Outlook 2024 report to get ready for an economic renaissance. The tantalising revelations point towards a potential external demand turnaround, setting the stage for a dazzling economic performance. The domestic front is gearing up for a resilience revolution, riding…
- Business News
Thai businesses navigate bankruptcy via national rehabilitation process
The Thai economy has weathered numerous challenges recently, including the Covid-19 pandemic, a worldwide economic downturn, repercussions from international conflicts, declining exports, and persistent domestic political upheaval. This has led to a surge in bankruptcies, and many other Thai businesses have sought to navigate the business rehabilitation process under Thailand’s Bankruptcy Act. The Bankruptcy Act allows a creditor, debtor, or…
- Business News
World Bank’s growth forecast dips in East Asia: A downward spiral
The World Bank‘s most recent semi-annual report reveals a downward revision in growth predictions for developing economies across East Asia and the Pacific for the years 2023 and 2024. This downward adjustment can be attributed to various factors, including the constraints imposed by tighter financial conditions and the ongoing challenges within the global economic environment. According to the report, the…
- Business News
MICE revenue in Thailand lowered amid sluggish Chinese market response
The meetings, incentives, conventions, and exhibitions (MICE) revenue forecast for the Thailand Convention and Exhibition Bureau (TCEB) has been lowered to 96 billion baht. This is less than half the recorded figures for 2019, mainly due to a sluggish response from the Chinese market. TCEB’s president, Chiruit Isarangkun Na Ayuthaya disclosed that despite the strong comeback of MICE travellers from…
- Economy News
Global rice trade shook by El Nino, politics, and embargo in Thailand
In the face of mounting global food security concerns, the impact of El Niño weather patterns and international political disruptions are causing serious upheavals in the farming landscape, particularly in major global rice-producing countries. Compounding the issue is Russia’s recent withdrawal from a vital agreement, which previously ensured the uninterrupted transport of Ukrainian grain goods through the Black Sea region.…
- Business News
Thai baht’s unexpected surge makes a splash, takes the lead in Asian currency gains
In an unexpected buoy of currency today, the Thai baht took the lead in Asian currency gains, reaching a two-month apex. This surge, of 0.9%, comes in the wake of strong hopes for the resolution of Thailand‘s political deadlock and a waning US dollar, factors that buoyed the sentiments of investors. Meanwhile, share market traders adopted a cautious stance; local…
- World News
Cuba turns to Russia amid fuel crisis and economic downturn
Equipped with a navy blue, Soviet-era Lada, Cuban cab driver Jorge Lloro’s everyday life is a stark reminder of Cuba’s Cold War-era relationship with Russia. There are roughly 100,000 Russian-made autos on this island nation, originally brought here as a workaround for the United States’ long-standing economic embargo. Today, grappling with a severe fuel crisis and a grim economic outlook,…
- World News
Trump pleads not guilty to mishandling classified documents in Miami court
Donald Trump has entered a not guilty plea to historic charges of mishandling classified documents at a federal court in Miami, Florida. Trump is the first US president, either current or former, to face a federal criminal indictment. Appearing sombre and subdued in court, he wore a dark suit and red tie with his arms crossed. This marked the second…
- Business News
Thai election fallout hits SET, investors dump big-cap stocks
Despite initial optimism that the General Election could reverse the “sell in May” phenomenon, the recent poll sent the Stock Exchange of Thailand (SET) index into a tailspin, dipping 3% the first week after the election. Political uncertainties have triggered an outflow of funds, worsening the situation for Asia’s worst-performing bourse this year. The market capitalisation of the SET has…
