economy

  • Economy NewsSugar industry expert says banning of 3 agri-chemicals will severely damage business
    Maya TaylorWednesday, November 13, 2019
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    Sugar industry expert says banning of 3 agri-chemicals will severely damage business

    The president of the Thailand Society of Sugarcane Technologists has criticised the recently- implemented ban on three agri-chemicals that were commonly used in the industry. The Nation reports that Dr Kitti Chunhawong insists the ban on Paraquat, Chlorpyrifos and Glyphosate will cripple business. “Currently Thailand is the world’s fifth sugar producer and second biggest exporter with more than 11 million…

  • Economy NewsGovernment wants to extend ‘Eat, Spend, Shop’ economic stimulus plan
    Maya TaylorTuesday, November 12, 2019
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    Government wants to extend ‘Eat, Spend, Shop’ economic stimulus plan

    The government is seeking to extend the deadline for its economic stimulus package, “Eat, Spend, Shop” (Chim Shop Chai) to January 31. The Nation reports that the Finance Ministry is planning to ask Cabinet today to agree to an extension from the original deadline of December 31, in order to provide a further boost to spending and the economy over…

  • Economy NewsThailand’s ‘economic condition index’ expected to decline in Q3
    ThaigerSunday, November 10, 2019
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    Thailand’s ‘economic condition index’ expected to decline in Q3

    PHOTO: Culture Trip Thailand’s household economic condition index is likely to drop further due to the ongoing global economic slowdown. Another drop would make it the third this year, measured in quarters. The slowdown is impacting the domestic economy and employment, according to the Kasikorn Thai research centre. Thai PBS reports that the latest ECI report indicates that a survey…

  • Business NewsForeign investment applications rise 69% in first nine months
    ThaigerWednesday, November 6, 2019
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    Foreign investment applications rise 69% in first nine months

    PHOTO: Bloomberg Thailand continues attracting foreign direct investment, with applications rising 69% in the first nine months of 2019, according the Board of Investment (BOI). Applications in the electronics and electrical sector, and the digital and automotive sectors, represented 131.78 billion baht, or 65% of the total. The value of applications, up to September this year, was 203.37 billion baht,…

  • World News“Build ASEAN brands” says AirAsia CEO
    ThaigerSunday, November 3, 2019
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    “Build ASEAN brands” says AirAsia CEO

    The CEO of AirAsia, Tony Fernandes, has told ASEAN governments to help create and strengthen “ASEAN brands” to drive the regional economy. Addressing the ASEAN Business and Investment Summit 2019, Mr. Fernandes says, although ASEAN is the world’s fourth largest economy, there are few ASEAN brands with impact beyond their national or regional boundaries. He blamed “both visible and invisible…

  • Economy NewsHigh-speed rail link approved
    ThaigerTuesday, October 29, 2019
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    High-speed rail link approved

    Plans for a new 7.4 billion dollar high-speed rail link from Bangkok to Pattaya got the thumbs-up Thursday (October 24). The approval comes after months of acrimonious negotiations. The government said it had signed an agreement on Thursday to begin construction with a consortium led by conglomerate Charoen Pokphand Group (CP) and including China Railway Construction Corporation. Japanese banks have…

  • Economy NewsCommerce Ministry will appeal US GSP decision
    ThaigerTuesday, October 29, 2019
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    Commerce Ministry will appeal US GSP decision

    Thailand will ask the United States to reconsider removal of trade preferences for Thai exports under the Generalized System of Preferences (GSP), according to the Ministry of Commerce. In the past, whenever trade benefits for Thai products exported to the US were suspended, Thailand has appealed to the US, according to the commerce minister, who added that it is ultimately…

  • Economy NewsThai exports will suffer from Trump labour rights decision
    ThaigerMonday, October 28, 2019
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    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…

  • HealthSecond phase of government’s economic stimulus package off to a good start
    Maya TaylorFriday, October 25, 2019
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    Second phase of government’s economic stimulus package off to a good start

    The government has launched phase 2 of its Chim-Shop-Chai scheme, aimed at boosting the country’s economy. The second phase is aimed at those who missed out on subscribing the first time round, with each person entitled to a 1,000 baht giveaway and a 15 – 20% rebate on spending between 30,000 and 50,000 baht. Thai PBS World reports that the…

  • Economy NewsThai Airways not at risk of shutting down: president
    ThaigerThursday, October 24, 2019
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    Thai Airways not at risk of shutting down: president

    Thai Airways is not at risk of shutting down and recent news reports about the airline’s situation were “misinterpreted”, the beleaguered carrier’s president insisted on Wednesday. The statement appeared to directly contradict remarks he made to high-ranking THAI staff in a speech on Tuesday. He said the remarks were to encourage staff to make an earnest effort to ensure the…

  • World NewsThai Airways denies cancelling flights to 4 Asean destinations
    ThaigerThursday, October 24, 2019
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    Thai Airways denies cancelling flights to 4 Asean destinations

    Thai Airways has dismissed reports that it will stop flying to four Asean destinations, namely Laos, Cambodia, Vietnam and Myanmar. In a statement issued Tuesday October 22, Thai’s president insisted there is no truth to reports that the airline will stop flights to the four destinations. He said that the company is preparing its corporate strategy, and a thorough analysis…

  • Northern Thailand NewsTourism Council of Thailand cites Thai baht as biggest challenge to tourism
    Maya TaylorWednesday, October 23, 2019
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    Tourism Council of Thailand cites Thai baht as biggest challenge to tourism

    The strong Thai baht is proving to be the biggest obstacle in trying to lure tourists, according to The Tourism Council of Thailand who have had to lower its projection of over 40 million foreign visitors this year down to 39.7 million. The president of the council says the surging baht is the main reason for the decline. “It’s frightening…

  • World NewsThai Airways announces cancellation of six routes to four ASEAN destinations
    Maya TaylorTuesday, October 22, 2019
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    Thai Airways announces cancellation of six routes to four ASEAN destinations

    The President of Thai Airways International says the airline is set to cancel six flight routes to Laos, Vietnam, Cambodia, and Myanmar. The Nation reports that Sumeth Damrongchaitham says the routes in question are all from Bangkok’s Suvarnabhumi airport to Vientiane, Luang Prabang, Phnom Penh, Hanoi, Ho Chi Minh and Yangon. “These routes are all covered by a small number…

  • NewsTax on salt content being considered
    ThaigerTuesday, October 22, 2019
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    Tax on salt content being considered

    The Excise Department is considering imposing a tax on the salt content of food to encourage food producers to reduce the sodium content of snacks, instant noodles and seasoning cubes. The director of the Office of Tax Planning said that the department is discussing a limit on the amount of sodium food can contain, in line with the standard set…

  • Economy NewsAsia leads the world in medical tourism
    ThaigerMonday, October 21, 2019
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    Asia leads the world in medical tourism

    Over the past ten years, Asia has become a favourite destination for medical tourism for people from around the world. Besides the white sand beaches, historic monuments and rich cultural legacy, healthcare in Asia is now a major attraction. From transplants and surgeries to dental procedures and botox, people are turning to Asia. But what makes Asia the most popular…

  • News10 billionaires among Thailand’s 500 MPs
    ThaigerMonday, October 21, 2019
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    10 billionaires among Thailand’s 500 MPs

    Thailand has 10 billionaire MPs, while the poorest MP has just 5,064 baht in his bank account, according to reports from the Office of the National Anti-Corruption Commission. Of the 10 billionaire MPs, Mrs. Nathee Ratchakitprakarn, of the Bhumjaithai Party, wife of Tourism and Sports Minister Pipat, is the richest, with declared assets of about 4.675 billion baht. The other…

  • Economy News“Too good for its own good” – The Thai economy
    ThaigerFriday, October 11, 2019
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    “Too good for its own good” – The Thai economy

    Bloomberg has written an opinion piece about the robust Thai economy, sharing its fears along with some pats on the back. “Thailand really should let its hair down. The currency is strong and the current-account surplus is big versus the neighborhood, while there’s a lot of scope for fiscal expansion. The Bank of Thailand has been grudging in cutting interest rates, in contrast to the…

  • ExpatsStrong Thai baht brings financial woes for expat retirees
    Maya TaylorSaturday, October 5, 2019
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    Strong Thai baht brings financial woes for expat retirees

    PHOTO: AFP An interview with a retired Briton in today’s Bangkok Post illustrates the financial difficulties some expats now face in the Land of Smiles as a result of the strong baht. Brian Maxey moved to Pattaya from the UK to live off his sterling pension, but the surging Thai currency means he’s now finding it a challenge to meet…

  • Tourism NewsRound two of the “Eat, Shop, Spend” tourism stimulus
    ThaigerWednesday, October 2, 2019
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    Round two of the “Eat, Shop, Spend” tourism stimulus

    Round one of “Eat, Shop, Spend” (Chim, Shop, Chai) was a resounding success with the allotment for registrations completely subscribed on the days of registration. It was a 1,000 baht ‘gift’ to encourage Thais to travel and spend outside their home provinces. Now the government are rolling out the second round of the stimulus packages to keep the local tourism…

  • World NewsChina’s manufacturing sector improves during September
    ThaigerMonday, September 30, 2019
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    China’s manufacturing sector improves during September

    PHOTO: China Daily “Caixin said confidence among goods producers was still subdued as worries persisted over the outcome of China-US trade negotiations.” China’s manufacturing sector showed unexpected signs of improvement during September with two indexes showing that manufacturing activity edged up, despite ongoing trade pressures with the US. According to the National Bureau of Statistics, the Purchasing Managers’ Index rose…

  • Economy NewsStrong baht poses a tough challenge for Thailand
    Maya TaylorThursday, September 12, 2019
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    Strong baht poses a tough challenge for Thailand

    PHOTO: Dreamstime.com Thailand’s currency is currently giving it a major economic headache, according to a Bloomberg report shared by ThaiVisa this morning. The Thai baht has been the best performer globally against the US dollar for over 5 years now, but that strength has caused growth estimates to be cut for an economy relying on trade and tourism. The ongoing…

  • Politics NewsGovernment not tackling Thailand’s economic woes – poll
    ThaigerMonday, September 9, 2019
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    Government not tackling Thailand’s economic woes – poll

    Most people regard the government of Thai PM Prayut Chan-o-cha as lacking the capacity to tackle economic woes – this, the latest results from yesterday’s NIDA poll. The NIDA Poll, prepared by the National Institute of Development Administration, asked 1,260 respondents nationwide about their opinions on the current state of political play. The Nida Poll found that 46.7%t of the…

  • Economy NewsWhat goes up must come down – the battle of the baht
    ThaigerSunday, September 8, 2019
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    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…

  • Business NewsSoaring baht continues to court investors and speculators
    ThaigerTuesday, September 3, 2019
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    Soaring baht continues to court investors and speculators

    The Thai baht continues to be the best performing currency in Asia. On a year-on-year basis it has soared more than 8% against the USD and this year reached a six-year high. But the strong currency threatens the country’s exports and tourism, two major drivers of Thailand’s economy. Thailand continues to have solid economic fundamentals, a high current account surplus and…

  • Politics NewsThai finance minister confident GDP will pick up next quarter
    ThaigerFriday, August 23, 2019
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    Thai finance minister confident GDP will pick up next quarter

    Deputy PM Somkid Jatusripitak says he is confident Thailand’s gross domestic product will pick up in the fourth quarter as a result of the launch of 316 billion baht economic stimulus package from the Thai government. He claims the new rice price guarantee scheme will also assist the agricultural sector. The Cabinet approved the new packages at its Tuesday meeting.…

  • Thailand NewsThai GM’s diesel plant in Rayong builds 500,000th engine
    ThaigerFriday, August 16, 2019
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    Thai GM’s diesel plant in Rayong builds 500,000th engine

    GM Powertrain Thailand has produced its 500,000th four-cylinder Duramax turbo-diesel engine, a production milestone since production officially started in 2011. GM announced that the Rayong plant is the first GM facility in the world to produce the engine. Hector Villarreal, president of GM Southeast Asia says the Duramax engines serve as the heart of the company’s ‘Colorado’ and ‘Trailblazer’ models. “They…

  • World NewsAirport shutdown tarnishes Hong Kong’s business image
    ThaigerTuesday, August 13, 2019
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    Airport shutdown tarnishes Hong Kong’s business image

    PHOTO & VIDEO: Bill Barnett, c9hotelworks.com Thousands of supporters of the largely leaderless pro-democracy protest movement descended on the Hong Kong Airport terminal yesterday in an effort to get the message out to the world about their struggle and the harsh tactics used by police. They achieved that result whilst testing the resolve of Beijing, accusing the protest organisers of…

  • Politics NewsThailand and EU prepare for signing of a strategic trade partnership
    ThaigerSaturday, August 3, 2019
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    Thailand and EU prepare for signing of a strategic trade partnership

    Thailand and the European Union are ready to sign a draft Strategic Partnership and Cooperation Agreement to promote bilateral trade and investment in the future. Federica Mogherini, an EU Representative for Foreign Affairs and Security Policy, and vice chairwoman of the European Commission, met today with PM Prayut Chan-o-cha during her visit to Thailand to attend the ASEAN Plus Foreign…

  • Business NewsMoody’s upgrades most Thai banks’ credit ratings from ‘stable’ to ‘positive’
    ThaigerWednesday, July 31, 2019
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    Moody’s upgrades most Thai banks’ credit ratings from ‘stable’ to ‘positive’

    Moody’s Investors Service upgraded the Baseline Credit Assessments of eleven Thai banks (1) Bangkok Bank Public Company Limited (BBL) (2) Bank of Ayudhya (BAY) (3) CIMB Thai Bank Public Company Limited (CIMBT) (4) Export-Import Bank of Thailand (EXIMT) (5) Government Housing Bank of Thailand (GHB) (6) KASIKORNBANK Public Company Limited (KBank) (7) Krung Thai Bank Public Company Limited (KTB) (8)…

  • Business NewsThailand’s headline inflation surged over 1% in March
    ThaigerSaturday, July 27, 2019
    0 194

    Thailand’s headline inflation surged over 1% in March

    “The SCB Economics Intelligent Centre has revised down its forecast for average headline inflation in 2019 to 0.9% year on year, a slight decline from the previous forecast of 1.0%year on year.” Thailand’s headline inflation surged to 1.24%, year on year, during March. This is up from 0.73%, year on year, in the previous month. Food and energy prices are the…