Search Results for: GDP growth
- Economy News
What goes up must come down – the battle of the baht
Newton’s law looms over the Thai baht. Meanwhile, the Thai baht continues to be the best performing currency in Asia. The Thai currency is riding a 6-year high against the USD and, this year, has surged 8% against the US currency. But the strong baht is causing knock-on effects to the rest of the Thai economy, battering exports and stifling tourist…
- Economy News
Central Bank of Thailand voices concern over impact of economic slowdown
PHOTO: Thai PBS World The Bank of Thailand has expressed concern about the country’s rising household debt as a result of the sluggish economy. The bank’s assistant governor Titanun Mallikamas was speaking on Monday, in response to the National Economic and Social Development Council raising the matter at a press conference. “We are closely monitoring household debts, as Thai families…
- Business News
Asian stock markets follow Wall Street’s lead downward this morning
Asian stock markets have followed Wall Street’s lead this morning falling sharply as investors made their concerns apparent about economic recessions in some of the larger economies. They also reacted to more threats of instability from the trade war between the US and China. The Stock Exchange of Thailand (SET) Index dropped 1.6% during this morning’s trading. US markets led…
- Business News
Thai baht may need another ‘haircut’ by the Bank of Thailand before the end of 2019
Wednesday’s rate cut by the Bank of Thailand has not succeeded in reining in the surging baht, raising the prospect of another interest rate cut by 0.25 of a percentage point before the year-end. While the central bank’s statement on the policy rate reduction didn’t mention the strength of the baht, economists suspect the baht’s strength and its impact on…
- Business News
Strong baht a concern for Thai hotel sector
by Bill Barnett Thailand’s baht performance against Asian currencies in 2018, was unmatched, with the exception of the Japanese yen. Commenting on the trend financial news Bloomberg have highlighted that in 2019, a further 4% in growth this year have it sitting at the top of the table. Oddly, one of the underlying factors stimulating the baht’s appreciation is the…
- Business News
Thailand’s sponsorship market grew 19% – 2018
ASN (Asia Sponsorship News) has just released its Sponsorship Market Overview for Thailand 2018. Local agencies have had their say on the performance of the Southeast Asian sponsorship marketplace. 2018 was a robust year for Thailand’s Sponsorship market, growing 19% year-on-year to US$223.4 million (2017’s total investment was US$188.2 million) and making grounds on reaching its previous (outlier) market peak of…
- Business News
Americans are flocking to Asia. Why?
Asia is sexy. From K-Pop sensation BTS topping the Billboard charts to “Crazy Rich Asians” owning the summer box office in the US, Americans can’t get enough of Asian film, music, and of course, noodles. “It’s all a sign of the Asianisation of the world”, reports CNN. “Asia has the world’s lowest taxes. Despite having some of the world’s largest…
- World News
Top 10 countries in Asia – DataLeads report
PHOTO: Travelience “Japan is ranked the best country in Asia and fifth globally. Thailand ranks 27th globally” DataLeads reports that a survey conducted in 80 countries shows that Japan and Australia are the only Asia-Pacific countries that features in the top 10 best countries of the world. The ranking of countries is measured through factors like entrepreneurship, openness to business,…
- Bangkok News
Another Thai interest rate hike predicted for next year
by Phuwit Limviphuwat and Wichit Chaitrong We’ve just had one .25 basis point interest rise to the base rate. Now there’s already talk of another in 2019 which will start to affect consumer spending, especially mortgage holders. Siam Commercial Bank (SCB) and Phatra Securities are predicting that the Bank of Thailand (BOT) is likely to implement a modest interest rate…
- Thailand News
Thailand’s household debt
Thailand’s household debt has been on the rise over the past decade, up from an average of 116,681 baht in 2007 to 178,994 baht in 2017, but should be measured with commensurate growth in wages, inflation and the country’s GDP. The figures show that Thailand’s debt for farming is around 16% of the total debt bill. 36% is spent on…
- News
Bank of Thailand braces for trade war fallout
By Wichit Chaitrong “The trade row has increased the uncertainties for Thailand’s economy because it could have a negative impact on Thai exports, businesses, employment, consumption and investment.” Central bank keeps policy rate unchanged to facilitate growth; forecasts for GDP and export growth revised upwards amid weakening of the baht. Protectionism, stirred by the trade disputes between the United States…
- News
NCPO Four Year anniversary – Has Prayut brought happiness back to Thailand?
COMMENT Today is the fourth anniversary of the NCPO (National Committee of Peace and Order) coup which overthrew the elected Yingluck Shinawatra government in 2014. At the time it was claimed that the coup was necessary to stop Thai protesters harming each other and ‘to bring happiness back to the people’. General Prayut rode into the capital, Army in tow,…
- News
Access to Maya Bay, from the front, permanently closed
The closure of Maya Bay has come about after profound changes by chiefs of Thailand’s marine national parks. It’s been revealed that, far from being a knee-jerk reaction, the plan to close the famous tourist magnet is just the start of an entire new approach to marine conservation. The closure is seen as an entry point for new tourism management…
- Thai Life
Bangkok Airways to kick off direct flights between Yangon and Phuket
Bangkok Airways is looking to kick off direct flights between Yangon and Phuket this November. This according to Bangkok Airways’ regional airline vice president, Varong Israsena. Myanmar National Airlines started operating a direct flight between Yangon and Phuket last month and are looking to increase frequency of the flights from Myanmar’s largest city to Phuket. “I see great potential in Myanmar.…
- News
Bangkok property trends continue to point upward
Bangkok’s property market continues to show price growth with an eight-point increase in the DDproperty Property Index from 205 to 213 in the first quarter of 2018. A strong opening for 2018, this growth is on the back of an improving economic outlook and an expected increase in Gross Domestic Product (GDP) this year to 4.2 percent (up 0.3 percent…
- News
Closing Maya Bay – Tough steps to save reeling paradise
By Piyaporn Wongruang The young American backpacker Richard found his way to Bangkok, arriving in Khao San Road bustling with backpackers, before venturing further to a so-called paradise, where he joined the neo-hippie lifestyle pursued by a number of adventurous tourists who arrived before him. It’s Maya Bay on Phi Phi Island, famously chosen as the so-called paradise setting for…
- News
The Thai Canal – cutting through the project’s hype
(Photo from mothership.sg) September 11, 2017 was the latest gathering of minds related to the challenges in establishing the much-discussed Kra Canal (now referred to as the Thai Canal) in Bangkok. The canal, if it happens, would slice a new shipping canal through the the slimmest section of the Malay Peninsula, anywhere from Chumpon to south of Phuket. The Thai…
- Bangkok News
Bangkok surpasses London as world’s top destination city
BANGKOK: The Thai capital, projected to welcome 21.47 million international inbound visitors this year, has been awarded the ‘World’s Best City Award’ for the fourth year in a row. The awards are organized by Travel and Leisure magazine. According to the annual Mastercard Global Destinations Cities Index released today, Bangkok edges out second-ranked London, which is set to welcome 19.88…
- Phuket News
Surge in registrations of new companies
PHUKET: New company registrations in the country set a two-year high last month, which the Commerce Ministry attributed to the government’s investment promotion measures and strong tourism growth. New business registrations reached 6,176 in March – up eight per cent year on year and 10 per cent from February. Pongpun Gearaviriyapun, director-general of the Business Development Department, said yesterday that…
- Property
Video Report: Sansiri launches mid-rise condo
PHUKET: There are panoramic views of the island with glimpses of the sea from the 14th floor of Sansiri Plc’s recently completed, mid-rise condominium The Base Height-Phuket, making it something truly special. With the starting price of a 30-square-meter unit, including all transfer expenses at the Land Office, coming to 1.99 million baht during a promotional period, this high-class condominium…
- World News
Nigerian suspected car bomb blast kills at least 15
PHUKET MEDIA WATCH – World news selected by Gazette editors for Phuket’s international community Suspected car bomb on edge of Nigerian capital kills at least 15 Reuters / Phuket Gazette PHUKET: A suspected car bomb exploded on the outskirts of Nigeria’s capital Abuja on Thursday, killing at least 15 people a week before the city was to host a conference…
- Thailand News
Phuket Gazette Thailand News: Six dead in elephant crash; Bt2-tn loan bill rejected; Rate cut brings little joy
PHUKET MEDIA WATCH – Thailand news compiled by Gazette editors for Phuket’s international community Six people and an elephant killed in accidents The Nation / Phuket Gazette PHUKET: A total of six people and an elephant were killed yesterday when a Pajero crashed into three wild elephants crossing Ban Beung-Klaeng Road at 4am yesterday in Rayong’s Wang Chan district. One…
- Chiang Mai News
Phuket Gazette Thailand News: Protests may cost B40bn; Tourism fears rise; Army maintains no coup; OAG stirs elections wasteful
PHUKET MEDIA WATCH– Thailand news compiled by Gazette editors for Phuket’s international community Prolonged siege may cost Bt40 bn The Nation / Phuket GazettePHUKET: The Bangkok Shutdown is expected to whack Bt40 billion off the economy or 0.2 percentage point off its growth as consumers cut back on daily living and travel expenses, according to the University of the Thai…
- World News
Phuket Gazette World News: Dour Christmas for Philippines typhoon survivors; China down on Mao birthday; Russia releases Greenpeace activists
PHUKET MEDIA WATCH– World news compiled by Gazette editors for Phuket’s international community Remittances throw lifeline to Philippines’ typhoon survivors Reuters / Phuket GazettePHUKET: A sister living on the other side of the world gave Roberto Retanal what he needed most to piece his humble home back together after the devastating typhoon that tore through his village in the central…
- World News
Phuket Gazette World News: Dozens dead in new migrant boat sinking off Sicily; US inches toward debt deal; Kenya mall attack suspect charged
PHUKET MEDIA WATCH – World news compiled by Gazette editors for Phuket’s international community Dozens killed in new migrant shipwreck south of Sicily Reuters / Phuket Gazette PHUKET: Dozens of people died on Friday when a boat carrying around 250 migrants capsized between Sicily and Tunisia, in the second such shipwreck this month, the Italian coastguard said. The Italian news…
- Thai Life
Bitcoin ban in Thailand
PHUKET: Bitcoin is only one among hundreds of its kind, collectively known as cryptographic protocol currencies or cryptocurrencies, which are only a small part of all digital currencies. More than 90% of almost every single currency in the world today is digital. Still, cryptocurrencies are unique while having only existed for four years, the total value of Bitcoins alone surpasses…
- Thailand News
Phuket Gazette Thailand News: BoT Gov slams Govt policies; Thaksin b’day party near Bangkok; Lottery surge; PM placates Isarn; Nenkham’s B300mn
PHUKET MEDIA WATCH– Thailand news compiled by Gazette editors for Phuket’s international community BoT Gov slams Govt policies as unsustainable The Nation / Phuket GazettePHUKET: Bank of Thailand Governor Prasarn Trairatvorakul has slammed government policies as geared towards short-term consumption, saying they have shortcomings and cannot sustain economic competitiveness in the long term.In a speech to Asean ambassadors and high-ranking…
- World News
Phuket Gazette World News: Putin, Obama face off over Syria at G8; Italy flooded with refugees; Brazil unrest swells; NK negotiator to talk in China
PHUKET MEDIA WATCH– World news compiled by Gazette editors for Phuket’s international community European, U.S. leaders launch free-trade talks Reuters / Phuket GazettePHUKET: The United States and the European Union launched negotiations for the world’s most ambitious free-trade deal on Monday, promising thousands of new jobs and accelerated growth on both sides of the Atlantic.Trade between Europe and the United…
- Business News
Phuket Business: Thailand – US trade reviving
PHUKET: More than 700 American companies will have a combined investment of US$40 billion – approximately 1.25 trillion baht – in Thailand by the end of 2012, a business leader recently told the Thai government. The president of the American Chamber of Commerce (AMCHAM), Joe Mannix revealed the figure in a speech given at a thank-you function for the government,…
- World News
Phuket Gazette: ASEAN business news
PHUKET MEDIA WATCH – World news compiled by Gazette editors for Phuket’s international community U.S. exports to China reach historic US$203.9 billion in 2011 Phuket Gazette / News Wires PHUKET: The U.S.-China Business Council (USCBC) yesterday released its annual report on U.S. State Exports to China for 2011, showing that it surpassed US200 billion for the first time in history.…
