Search Results for: bonds
- Thailand News
Krungsri Bank anticipates Thai baht fluctuation amid global market developments
The Global Markets team at Krungsri Bank predicts a movement in the Thai baht this week within the range of 35.40 to 36.00 baht per US dollar. Last week, the baht closed weaker at 35.79 baht per US dollar after trading in the range of 35.43 to 35.82 baht per US dollar. The dollar strengthened against the euro but held…
- Business News
Asia-Pacific bond defaults surge amid China’s real estate crisis
Asia-Pacific bond defaults are on the rise, outpacing the global average, amid China’s real estate crisis. A joint study by the Federation of Thai Capital Market Organizations (FETCO) and the Capital Market Development Fund (CMDF) highlighted a concerning uptick in debenture default rates, signalling a potential global crisis. The study revealed that bond defaults occurred at a faster pace in…
- Economy News
Fiscal budget deficits risks Thai economy, chief economist warns
Kiatnakin Phatra Securities’ chief economist issued a stark warning over the government’s increasing reliance on fiscal budget deficits, cautioning that such an approach could harm the economy over an extended period. Pipat Luengnaruemitchai openly criticised the government’s latest populist strategies, including a digital money initiative and reduced oil costs, stating that these measures could erode fiscal discipline. He further warned…
- Business News
Pattaya’s sunny side: Hotel industry shines amid European gloom
Despite Europe’s deteriorating economic forecast, Pattaya’s hotel industry remains robust, backed primarily by Asian and domestic tourists, says the Managing Director of LH Mall and Hotel (LHMH). Pattaya, traditionally known for its nightlife, has successfully rebranded itself as a family and business-friendly destination. As the European Commission revises the Eurozone’s growth outlook and Germany faces a potential recession this year,…
- Thailand News
Thailand’s first expressway tunnel proposed through 36 billion baht investment
The Expressway Authority of Thailand (EXAT) has put forth a proposal for an underground expressway, aiming to replace a contentious section of the N1 Expressway development. The proposal came after an extensive 17-month initial feasibility study. EXAT Governor Surachet Laophulsuk revealed this plan during the project’s second hearing, stating that multiple factors such as engineering, investment costs, and environmental impact,…
- World News
Indonesia introduces golden visa scheme to attract foreign investors
Indonesia has launched an initiative to draw foreign individual and corporate investors with the introduction of a golden visa scheme, aimed at bolstering the nation’s economy, according to an announcement made by the Ministry of Law and Human Rights. The director-general of Indonesia’s immigration Silmy Karim explained the new long-term, high-value visa plan. “The golden visa is granting a residence…
- China News
Chinese developer Country Garden secures bond repayment delay amid liquidity crisis
Chinese developer, Country Garden, has successfully secured creditor approval to postpone a critical bond repayment deadline, narrowly dodging a potential default. This agreement provides temporary relief amidst a liquidity crisis that has significantly impacted the nation’s financial markets. Country Garden gained enough support in a vote concluded yesterday to extend payments on the 3.9 billion yuan (18 billion baht) outstanding…
- Business News
JKN Global reassures investors after bond payment rescheduling
JKN Global Group Plc (JKN), the owner of the Miss Universe Organization (MUO), reassured investors that its financial status is robust, despite a recent bond payment rescheduling caused by a liquidity mismatch. Jakkaphong Jakrajutatip, the chief executive and managing director, said at a briefing that the company is set to meet its revenue target of over 3 billion baht this…
- Thailand News
Thailand’s best-kept secret: Unraveling the online wonderland!
Nestled amidst the shimmering lights and pulsating rhythms of the Asian gaming panorama, fun88 emerges as a beacon for avid gamers and enthusiasts. More than just a platform, it serves as a testament to the evolution of digital entertainment, seamlessly blending tradition with technology. With every click and every play, fun88 doesn’t just offer a game; it extends an invitation…
- Business News
Global investors navigate high interest rates amid inflation control efforts
Amid recession concerns, inflation, and high interest rates, investors seek promising investment avenues. Stock enthusiasts believe global interest rates are close to peaking, while central banks watch inflation. The US Federal Reserve raised the federal funds rate to 5.25-5.50% in July, the highest in decades. The European Central Bank increased rates by 0.25%, and the Bank of Japan hints at a…
- Retire in Thailand
What you need to know about mandatory health insurance for retirement in Thailand
If you’ve always cherished that dream of retiring to a life of endless beaches, mouth-watering street food, and glorious sunsets in Thailand, it’s fair to say you’re not alone. But as you savour your bowl of Tom Yum Goong and browse those enticing property listings in Phuket, it’s important to have a quick glance at the less glamorous but equally…
- Thailand News
Final suspect in Thai counterfeit bond scam apprehended by OIG
The Office of Inspector General (OIG) apprehended the final suspect involved in a counterfeit bond scheme. The gang collaborated with fraudulent money-lenders to deceive prominent owners of guesthouse businesses, by soliciting payment for the approval of large loans. This culminated in the arrest of 64 year old man yesterday under the charge of currency counterfeiting. The arrested individual, Thanakrit, is…
- Phuket News
New Russian consulate opens in Phuket deepening Thailand-Russia ties
Sergey Lavrov, the Foreign Affairs Minister of Russia, unveiled the new Consulate General of the Russian Federation in Phuket at Royal Phuket Marina. The high-profile event, which took place yesterday, marked a significant development in the evolving diplomatic bonds between Thailand and Russia. Lavrov arrived at Royal Phuket Marina at 4pm where Phuket Vice Governor Amnuay Pinsuwan, flanked by a…
- Business News
TTB to tackle household debt and promote ESG standards
Piti Tantakasem, Chief Executive of TMBThanachart Bank (ttb), insists that tackling high levels of household debt should be a priority on the national agenda. Piti made known that he is poised to tackle the issue, given his leading role within the household debt resolution team set up by the Thai Bankers’ Association (TBA). Alongside the central bank and other pertinent…
- World News
Mother-in-law discovers she helped deliver daughter-in-law 20 years ago
More than destiny, a viral story of an unexpected reunion is circulating the internet revealing a woman’s shocking realisation that the daughter-in-law she loves once crossed paths with her in an unexpected circumstance two decades ago. As reported by international websites, Mary Ann West, who used to serve as a nurse in the Lakeview Hospital, Wyoming, USA, stunningly discovered that…
- Business News
Boggle Boggle: Korean noodle pop-up store debuts in Thailand with K-drama experience
In a move influenced by the continued fascination with K-pop culture among Thai enthusiasts, ‘Boggle Boggle,’ a Korean noodle pop-up store reminiscent of the famed late-night food spots or vintage red tents frequently portrayed in South Korean TV dramas, has made its recent debut in Thailand. Hosting its grand opening on June 24, Boggle Boggle occupies a space on the…
- World News
Johor-Singapore economic region proposal gains momentum amid unique relationship
The potential establishment of a Johor-Singapore economic region is generating excitement among residents and business owners in Malaysia’s southern state of Johor. The idea, which aims to strengthen the state’s economic potential, has been discussed by the state government, the federal government, and the Singaporean government, but has not yet been raised as an official proposal. Johor and Singapore have…
- World News
West Ham victory parade floods east London streets after historic win
A sea of jubilant West Ham United supporters filled the streets of east London to participate in a victory parade, celebrating the team’s first major trophy win in over four decades. The Hammers secured a 2-1 victory against Fiorentina in Prague on Wednesday night, with the bus carrying the players struggling to navigate the throngs of elated fans. As the…
- Business News
SEC offers guidance for investors amid Stark’s potential bond default
The Securities and Exchange Commission (SEC) has issued guidelines for investors as Stark Corporation faces the possibility of defaulting on bond payments worth nearly 9.2 billion baht. The SEC has emphasised that investing in debt securities carries high risks and that investors could lose both principal and interest. The guidelines aim to clarify the roles and functions of bond representatives…
- Business News
SET and AIMC to use class action law to protect investors amid Stark fraud probe
The Association of Investment Management Companies (AIMC) and the Stock Exchange of Thailand (SET) are set to utilise class action law to safeguard investors’ interests as the Department of Special Investigation (DSI) examines potential fraud involving former executives of Stark Corporation. Stark’s shares plummeted by approximately 90% after the SET allowed trading to resume on June 1, causing significant harm…
- Business News
Thai stock market suffers as Stark Corporation defaults
Investors were cautioned by stock market regulators regarding Stark Corporation’s shares, as the company is expected to default on payments for corporate bonds valued at nearly 9.2 billion baht. Following a bondholders’ meeting, Stark announced its intention to “call default” on two bond series worth 2.24 billion baht within a month, raising concerns about the company’s ability to pay for…
- Business News
Bank of Thailand raises key interest rate amid inflation risks
The Bank of Thailand announced a 25 basis point increase in its key interest rate, bringing it to 2%. This marks the sixth consecutive meeting where the central bank has raised the rate, with a total increase of 150 basis points since August last year. The decision was unanimous among the Monetary Policy Committee members and in line with the expectations…
- Politics News
Thai pro-democracy coalition faces obstacles amid conservative backlash
Pro-democracy parties in Thailand are facing resistance in their efforts to form a government following their historic win in the recent general election. The Move Forward Party (MFP), led by prime ministerial candidate Pita Limjaroenrat, has expanded its coalition to eight parties with 313 members. However, to form a government without relying on the military-appointed Senate, the bloc needs 376…
- World News
Bank of Japan reviews monetary easing measures under new governor
The Bank of Japan (BOJ) has announced plans to review its longstanding monetary easing measures, while also stating that it will maintain them for now. This marks the first policy decision under the new governor, Kazuo Ueda. Analysts suggest that the central bank’s stimulus measures, in place for a decade, are becoming increasingly unsustainable. The BOJ issued a statement after…
- Events
ADB SEADS 2023: Imagining a Net-Zero ASEAN
Key Takeaways ADB’s fourth Southeast Asia Development Symposium (SEADS) will bring together decision-makers, innovators, and climate leaders from government, industry, academia, and the development sector to discuss practical ways to achieve carbon neutrality by 2050. SEADS 2023’s plenary panel discussion, “Financing Net Zero,” will explore measures to bridge the gap in climate financing, and enable countries in ASEAN to attain…
- Economy News
US banking collapse has Thailand customers asking, is my money safe?
The recent collapse of Silicon Valley Bank (SVB) in the United States has triggered concerns about the safety of money in banks, with customers in Thailand wondering whether their cash is safe and whether they should withdraw it. While Thailand’s Finance Minister Arkhom Termpittayapaisith insists that the troubles faced by some major US banks have had no impact on Thailand,…
- Economy News
US govt reassure finanical world there’ll be no banking crisis after SVB collapse
The US government moved to reassure the financial world there is no new banking crisis on the horizon after telling customers of the failed Silicon Valley Bank (SVB) that their deposits will be guaranteed. The US government did insist, however, that there will be no taxpayer-funded bailout for the lender. The announcement was made jointly by the US Treasury Department,…
- Visa Information
Thailand still pushing its unattractive LTR 10-year visa
The Government of Thailand is once again, making unsubstantiated claims regarding its 10-year, multiple entry Long Term Residence (LTR) visa programme. The government still reckons the LTR programme will attract one million foreigners over five years and act as a catalyst to boost the nation’s tourism and promote economic growth in Thailand. According to the VN Express yesterday, the secretary…
- Things To Do
Exploring the Chinese New Year traditions in Thailand
Chinese New Year, also known as Lunar New Year or Spring Festival, has been celebrated in Thailand for centuries by the country’s Chinese-Thai community. The festival typically takes place in January or February and is a time for families to come together, clean their homes, and decorate with red lanterns and other symbols of good luck. Traditional activities include lion…
- Business News
Central Fraud Registry, coming soon to clean up Thai banking
Thailand‘s forthcoming Central Fraud Registry will be a new investigative authority, working alongside the Computer Emergency Response Team, a group of financial institutions focused on cybercrime in the banking industry. The new fraud registry will concentrate on financial fraud in the industry. Thai Banking Association (TBA) chairman Payong Srivanich did not set a time frame for setting up the registry.…
