Search Results for: deficit
- Politics News
White House reports progress in talks to avert US debt default
The White House has reported some progress in the ongoing discussions with Republican negotiators to prevent a catastrophic US debt default before the June 1 deadline. White House Press Secretary Karine Jean-Pierre stated that both sides must understand that they won’t get everything they want. The talks between US President Joe Biden and Republicans in Congress are set to continue,…
- World News
G7 finance leaders gather amid US debt ceiling standoff and recession fears
A standoff over raising the US debt ceiling overshadowed a meeting of Group of Seven (G7) finance leaders, heightening US recession fears as central banks seek a soft landing for the global economy. President Joe Biden recently urged Republican lawmakers to move quickly to raise the limit on the government’s permitted borrowing from the current US$31.4 trillion or risk throwing…
- Business News
Exploring the possibility of a new departure tax in Thailand
As the general election approaches, the introduction of a new tax is considered an extremely sensitive issue and a rare political tactic. Despite this, the Revenue Department moved forward last week to address concerns regarding a potential new departure tax on outbound travellers, based on a 40-year-old “emergency decree”. The department confirmed it has no plans to introduce a departure…
- Business News
Biden holds crucial meeting with Republicans on US debt limit impasse
President Joe Biden recently held a crucial meeting with Republican leaders to address the impasse over the US debt limit, which has far-reaching consequences on the world’s largest economy as well as the upcoming presidential election. The meeting at 4pm included Biden, House Speaker Kevin McCarthy, and Senate Republican leader Mitch McConnell. As the national debt ceiling, currently standing at…
- Thailand News
Thailand accelerates shift to renewables amid global energy crisis fallout
The global energy crisis has prompted Thailand to accelerate its transition to renewable energy after years of hesitation, joining other countries in adopting wind and solar power to reduce dependency on imported fuels. Thailand’s reconsideration of its renewable energy strategy came after a surge in natural gas prices last year caused by Russia’s invasion of Ukraine, according to Wattanapong Kurovat,…
- Business News
TNSC lowers Thailand’s export growth forecast due to global economic challenges
The Thai National Shippers’ Council (TNSC) has revised its export growth forecast for Thailand, predicting a 0-1% increase due to negative factors and uncertainty in the US and Chinese economies, as well as ongoing geopolitical conflicts. Despite the downward revision, the group remains confident that Thailand’s exports will not contract this year. Chaichan Chareonsuk, chairman of the TNSC, stated that…
- World News
Italy’s right-wing government rolls back anti-poverty subsidies
Italy’s right-wing government has decided to reverse the anti-poverty subsidies introduced four years ago, which provided assistance to around four million people last year. The move has been criticised as a ‘provocation’ on the international May Day labour holiday. Prime Minister Giorgia Meloni, leading the country’s most far-right coalition since World War II, announced that the “citizens’ income” benefits would…
- Tourism News
Thai Airways profits nearly tripled in last year’s final quarter
Thai Airways International (THAI) had a strong financial performance in the final quarter of 2022, reflecting the gradual recovery of Thailand’s tourism industry. According to the national flag carrier’s annual financial statement filed with the Thai Stock Exchange on February 24, the net income for the fourth quarter of 2022 surged to 11.15 billion baht, almost triple the 4 billion…
- World News
Thai baht and Singapore dollar battle for strongest regional currency
China is reopening its borders, pushing economists to predict that an influx of Chinese tourists to Thailand will propel the Thai baht into Southeast Asia’s reigning currency in 2023. But the baht has one regional competitor: the trusty Singapore dollar. Thailand’s economy heavily depends on tourism revenue. In 2019, Chinese tourists made up over 40% of the 40 million tourist…
- Travel Guides
Common Diseases in Thailand
Boasting stunning natural beauty, warm weather, and beautiful culture, Thailand is a gorgeous tropical country. Because of these reasons, Thailand is one of the world’s most popular tourist destinations. But due to factors like biodiversity, socioeconomic background, tropical climate, and frequent interaction between humans and animals, there are certain diseases visitors need to watch out for. Therefore, it’s always a…
- Economy News
Thai govt earned 2.02 trillion baht in 10 months but still borrowed
The Fiscal Policy Office of Thailand revealed the kingdom filled its coffers with 2.02 trillion baht in the past ten months but still had to borrow about 658 billion baht to overcome its deficit. The Director of the Fiscal Policy Office of Thailand, Pornchai Theerawet, yesterday revealed that Thailand earned 2.02 trillion baht in the first 10 months of the…
- Thailand News
Mentally ill Thai man sentenced to 12 years for royal defamation
A man with mental health problems has been sentenced to 12 years in jail for criticising the Thai royal family. The 29 year old man, called Punyaphat, made a number of posts on the Royalist Marketplace Facebook group questioning the popularity of the Thai royal family, and King Vajiralongkorn’s frequent trips to Germany. Siwapan Manitkul, a managing director of a…
- Thailand video news
Thailand News Update | Tourism officials call to end all entry restrictions in Thailand
Thailand’s tourism officials want an end to all entry restrictions for vaccinated travellers by June 1. That means no quarantine, no Test & Go rules, no Sandbox zones, no Covid-19 tests. A plan to gradually lift restrictions over the next few months, leading up to the removal of all restrictions by June 1, has been drafted by the Tourism and…
- Press Room
ADB reports Southeast Asian countries well-positioned to bounce back from COVID-19
Press Release The coronavirus disease (COVID-19) pandemic pushed 4.7 million people in Southeast Asia into extreme poverty in 2021, as 9.3 million jobs disappeared, compared with a baseline no-COVID scenario, according to a new Asian Development Bank (ADB) report presented at the Southeast Asia Development Symposium (SEADS). The Omicron wave could cut the region’s economic growth by as much as…
- Thailand News
Thailand’s businesses appeal to government to lower labour import cost
Thai businesses say they need more workers, and have appealed to the Labour Ministry to reduce costs of importing migrant workers from surrounding countries like Myanmar and Cambodia. Labour ministers said business operators are concerned that if not enough workers are brought in on time, their businesses won’t be able to meet orders and will have to pay fines. PM…
- World News
Vietnam gives green light to US$15 billion stimulus plan for economic recovery
The parliament of Vietnam has approved a stimulus package worth 347 trillion VND (US$ 15.3 billion) for those severely affected by the Covid-19 pandemic, especially businesses as well as expanding infrastructure expenditure amidst harsh lockdowns. Since the government is seeking sustainable growth, that ensures macroeconomic stability as concerns about inflation raised alarm over the National Assembly last month. Officials are…
- World News
EU security strategy gets an overhaul — but will it really be an upgrade?
“Europe cannot afford to be a bystander in a world order that is mainly shaped by others.” This longstanding lament is a key theme in the opening paragraphs of a document updating the EU’s security strategy for the next five to 10 years. Shepherded by EU High Representative for Foreign and Security Policy Josep Borrell, it warns governments that current…
- World News
Insect snacks hit Japanese vending machines
Vending machines sell a variety of products. Some vending machines sell soda and candy, some sell full meals, and others, which are a bit harder to find, sell used underwear. Now, Japan is introducing vending machines that sell snacks with insect extract and edible insects. Such a machine has been installed in Miyaki Town in Western Japan, recently. Thai PBS…
- World News
COVID and military coup cripple Myanmar economy
Zaw Min (name changed) is a construction worker in his 30s from the Yangon suburb of Hlaing TharYar in Myanmar. He recounts how he sold his second-hand motorcycle for 150,000 kyat ($91, €77.5) in September out of financial desperation. Min was forced to find new ways to feed his family when he couldn’t find work in his profession amid Myanmar’s…
- Covid-19 News
4 marijuana strains to be become National Heritages, possibly help effects of Covid
It will generate economic benefits for the country Thailand’s Health Minister, and noted non-fan of “unwashed farangs“, Anutin Charnvirakul, declared yesterday that 4 cannabis strains in Thailand will be registered as National Heritages. The move is done to promote research related to medical marijuana and combatting the effects of Covid-19. Anutin says the Medical Plant Research Institute through the Department…
- Thailand News
20 more people suspected of being involved in corruption at Thai Airways
20 people are suspected of corruption and mismanagement within the national airline that led to massive losses for Thai Airways International. The news, announced by police and deputy head of the commission investigating the airline, Saroj Nimaroen, comes as little surprise to anyone who has been following the demise of Thailand’s legacy airline over the past decade. The airline is…
- Business News
Evidence of Thai Airways’ corruption, mismanagement, sent to Finance Ministry
The Finance Ministry has received 18 documents that show evidence of corruption and mismanagement at Thai Airways. The evidence was submitted by a Transport Ministry panel on corruption, pending a full investigation into “shady dealings” at the battered national carrier. The airline is currently undergoing a rehabilitation process, having filed for bankruptcy protection earlier this year. It’s understood the former…
- Economy News
Central bank mulls severing baht’s gold link to weaken gains
Thailand’s central Bank is mulling breaking the baht’s link to gold as a way to weaken it without being labelled a “currency manipulator” by Washington. According to US Census Bureau data, Thailand’s trade surplus surpassed US$20 billion in the 12 months up to the end of November 2019. That exceeds a $20 billion cap the US Treasury sets for bilateral…
- Covid-19 News
Global recovery unlikely to happen next year – IMF
The head of the International Monetary Fund says the global economy is going to take longer than initially thought to recover fully from the shock caused by the Covid-19 coronavirus. She’s also warning against the danger of protectionism. Kristalina Georgieva says the Fund is likely to revise its forecast for a 3% contraction in GDP in 2020 downward, but gave…
- Economy News
Thai government planning more economic stimulus packages
Economists have urged the government to expand the fiscal deficit to up to 600 billion baht, while more stimulus packages are hopefully on course to counter the impact of the Covid-19 outbreak in Thailand. Secretary to the Council of Economic Ministers, Kobsak Pootrakool, says that the economic ministers would consider extra packages as relief for certain sectors, that were hit…
- Phuket News
Lost at sea: Thailand – A study from ISLA
By Daren Jenner, Thailand Section Chief, Marine Safety Officer, International Surf Life Saving Association The International Surf Lifesaving Association has just released an alarming study it calls “Lost at Sea: Thailand”. The study highlights the stark reality of the dangers of the two-faced Andaman Sea that surrounds the famous holiday Island of Phuket, Thailand. During the dry season (November to…
- Health
Cannabis oil gaining traction in Thai medical circles
Last week’s opening of Thailand’s first two full-time clinics dispensing cannabis oil (cannabidiol, or CBD) for medical treatment has brought international attention, not only to the kingdom’s burgeoning cannabis industry, but to the oil’s many reputed benefits. Around 25 CBD clinics have been operating part-time since the government agreed in 2018 to amend drug laws to allow the use and…
- World News
US Treasury mulls putting Thailand on its ‘watchlist’ as a currency manipulator
Thailand’s trade surplus with the US has now exceeded US$20 billion. Bloomberg reports that this could trigger the Thai currency to be added to the US Treasury’s watchlist of “currency manipulators”. According to US Census Bureau data, the surplus reached US$20.05 billion in the 12 months up to the end of November 2019. That exceeds a $20 billion upper limit…
- Economy News
Thai baht dips after rate cut
The baht continued losses yesterday after the Thai central bank cut interest rates. Other Asian currencies dipped as markets assess the latest details of the US-China tariff talks. The Bank of Thailand cut rates for the second time this year, with the benchmark one day repurchase rate now at a record low, as the bank tries to manage inflation and…
- Economy News
Thai exports will suffer from Trump labour rights decision
The Thai export sector will suffer another blow after the US President Donald Trump announced on Friday the suspension of 1.3 billion dollars worth of duty-free trade for certain Thai goods, claiming Thailand has not taken steps to protect the labor rights. In a letter to US House of Representatives Speaker Nancy Pelosi and Vice President Mike Pence, Trump said…
