financial
- Thailand News
Frozen pension policy: British expat’s dream turns into nightmare
Expats in Thailand live a life many envy but behind the sunny façade lies a tale of financial struggle and dashed dreams. Three Britons became victims of a decades-long pension policy debacle, turning their golden years into a fight for survival. John Jones, a 77 year old British national, once roamed the globe with the vigour of a jet-setter, but…
- Guides
10 Signs you’re spending money wrong
In a world where the allure of instant gratification often overshadows the virtue of financial prudence, it’s alarmingly easy to fall into the trap of mismanaging one’s finances. The subtle art of spending money wisely is lost on many, leading to a cycle of financial strain that seems inescapable. Recognising the signs of poor spending habits is the first step…
- Thailand News
Thai construction firm ITD seeks additional financial backing
Financially beleaguered construction company Italian-Thai Development (ITD) hopes to receive more financial backing from lenders to complete over 100 ongoing construction tasks while also vying for additional projects from the now active 2024 fiscal budget. ITD, listed on the Stock Exchange of Thailand (SET), has plans in the pipeline to offload its non-performing assets, including Asia-Pacific Potash Corp. Meanwhile, a…
- Business News
Italian-Thai development grapples with liquidity crisis amid scandals
Thailand’s leading construction firm, Italian-Thai Development Plc (ITD), is grappling with a liquidity crisis that has alarmed investors, regulators, and rating agencies. This scenario follows a series of local corporate scandals and debt defaults that have already unnerved the market. ITD confirmed yesterday, March 13, that it is seeking new loans from banks to alleviate the current cash crunch that…
- Thailand News
Rayong solar company lays off 800 amid financial woes
A prominent solar cell manufacturing company in Rayong has been forced to lay off a significant number of employees, totalling 800, affecting both day and night shifts. The layoffs come as a consequence of several months of financial strain where the company had deferred paying 75% of wages. The Chon Buri-Rayong News Page today reported that the company decided to…
- Thailand News
Community rallies to fund funeral for Thai grandmother
A heart-wrenching tragedy unfolded in the small community of Khao Kuba in Thailand, as 62 year old Pranom succumbed to the challenges of caring for her bedridden 12 year old grandchild, Nong Tong. Nong Tong, who has been disabled since birth, grapples with severe muscular weakness. The grieving family, already burdened by sorrow, encountered the additional challenge of lacking the…
- Thailand News
Experts warn of looming crisis for Thai economy
Dr Pipat Leungnamritchai, the chief economist at Kiatnakin Phatra Bank warned that the Thai economy is treading on thin ice, relying on unsustainable factors for growth. According to a recent exposé by Krungthep Thurakij on January 20, the nation’s financial stability is hanging by a thread. Dr Pipat highlighted the precarious reliance on low-interest rates, fiscal stimuli, and the booming tourism…
- Business News
Vietnam cuts bank stake limits to curb market manipulation risks
Vietnam’s legislature passed a resolution to decrease the maximum stake investors can own in domestic banks. Coming into force in July, the law will limit the equity held by institutional investors, such as pension or investment funds, to 10%, down from the current 15%. The adjustment has been made in an attempt to mitigate the risk of market manipulation. This…
- Thailand News
Thai disabilities fund unleashes hefty support for home repairs and rent
The Empowerment for Persons with Disabilities Fund announced an expansion of financial support for house repairs and rent today, January 9, as declared by the Social Development and Human Security Minister, Varawut Silpa-archa. This revolutionary decision, inked during the fund’s pivotal meeting on December 27 last year, promises substantial relief for those navigating the challenges of disabilities. Varawut, the driving…
- Business News
Thailand’s Central Retail eyes potential investment in Selfridges
Central Retail Corp., a leading retailer in Thailand, indicated potential interest in investing in Selfridges, the renowned department store, given the right circumstances. The company outlined their investment criteria in a recent statement to the Thai stock exchange, stating that any new venture must align with its strategic business plan, be reasonably priced, and have optimal timing. The company made…
- Economy News
World bank and ADB downgrade Thai GDP growth predictions for 2024
The economic forecast for Thailand in 2024 is uncertain as the World Bank reduces the country’s GDP growth estimate from 3.4% to 2.5%. Factors influencing this include weak exports and fiscal consolidation. Furthermore, the Asian Development Bank (ADB) also downgraded its Thai GDP growth prediction from 3.5% to 2.5% for the same reasons. Looking towards 2024, GDP is expected to…
- Economy News
Thailand’s fiscal position geared to absorb potential economic shocks
According to Pornchai Thiraveja, the director-general of the Fiscal Policy Office, Thailand’s robust fiscal position is well-equipped to buffer any potential economic shocks. The country boasts a fiscal space substantial enough to absorb crises equating to 10% of the GDP. The Thai financial institutions are stable economically, with a 19.9% Bank for International Settlements ratio, which is well above the…
- Thailand News
Thai restaurant owner loses 600,000 baht during family trip to France
A 30 year old restaurant owner from Nonthaburi suffered a loss of over 600,000 baht during his recent family trip to France. He has shared his harrowing experience to alert others and prevent them from becoming victims. Thalerngsak Khongkwanmuang revealed yesterday, December 12, his ordeal which occurred between November 7 and 21 during his holiday in France with his 48 year…
- Economy News
Debt dilemma: Households in a financial bind as debt soars, Thai PM pledges change
Thailand is in the grips of a financial crisis, with household debt skyrocketing to a staggering 16.07 trillion baht, a 3.6% surge compared to last year. Thai Prime Minister Srettha Thavisin vowed to address the problem of what he calls debt slavery. The National Economic and Social Development Council (NESDC) yesterday dropped a bombshell, revealing that Thailand’s household debt is…
- Thailand News
Rice and shine: Thai government dishes out financial aid to farmers through BAAC
The Thai government initiated a financial aid programme for rice farmers, channelling through the Bank for Agriculture and Agricultural Cooperatives (BAAC). Rice farmers will receive 1,000 baht per rai, capped at 20 rai (32,000 squared metres) per household, or a maximum of 20,000 baht per household. This scheme, part of the Rice Farmer Management and Quality Improvement project for the…
- Thailand News
December horoscope: Astrologer reveals fortune in Thai baht
As the year-end approaches, astrologer Thosporn cautions zodiac signs to stay vigilant during the final month of this year. The warning comes as he unveils the horoscope for December, highlighting the signs that will enjoy good fortune, those set to receive a significant monetary windfall, and those expected to experience luck in their relationships. However, some signs may face deception.…
- Thailand News
Chiang Mai MP refutes accusations of falsifying documents for party funds
Chiang Mai’s Move Forward Party (MFP) MP, Phattarapong Leelaphat, refuted accusations of falsifying documents to garner financial support from his party yesterday. This controversy was brought to light by the Democrat Party’s Tankhun Jittitsara on Wednesday, November 8. In response to the allegations, Phattarapong took to Facebook, dismissing the claims as baseless. The politician explained that most of the funds…
- Press Room
Super Satang: Revolutionizing Youth Financial Literacy in Thailand
The crisis of financial literacy in Thailand has reached crisis proportions, with startling statistics revealing a perilous landscape. Alarmingly, household debt has risen to 85% of the nation’s GDP, and an astounding 76% of the population plays the lottery, frequently at the expense of their financial stability. Against this bleak backdrop, Bangkok Patana School senior 17 year old Krishaan Phlaphongphanich,…
- 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…
- Economy News
UOB report uncovers economic concerns and investment trends in ASEAN nations
The United Overseas Bank (UOB) released a significant report revealing the current economic sentiments of citizens and businesses across five ASEAN nations – Singapore, Malaysia, Indonesia, Vietnam, and Thailand. Two days ago, Yuthchai Tayaratchakul, the Executive Vice President of UOB, provided a statement regarding the ASEAN Consumer Sentiment Study (ACSS). The UOB report aimed to shed light on the top…
- Thailand News
Elderly allowance scheme raises financial accessibility concerns in Thailand
In a bid to ease the strain on government finances, a transition from universal welfare payments to a stringent elderly allowance scheme has been initiated. This shift has been met with substantiated criticism, although the authorities maintain the necessity of the move, justifying it as a responsive adaptation to cope with Thailand’s rapidly ageing populace. In yesterday’s internal meeting of…
- Economy News
Tisco ESU advises focus shift to debt instruments amid market instability
Amid global stock market turbulence, financial analysts at Tisco’s Economic Strategy Unit (Tisco ESU) are advocating that investors pivot their focus towards debt instruments for potential high-yield returns. The ongoing pressures from elevated bond yields, coupled with the weakening economies in the US and Europe, are some of the contributing factors exerting pressure on the financial markets. The ongoing macroeconomic…
- Thailand News
Emergency services funding delay leads to Thai rescue groups suspending operations
In the northeast of Thailand, numerous rescue organisations have decided to halt their complimentary emergency services, attributing this drastic measure to the absence of financial backing from the National Institute for Emergency Medicine (Niem). The organisations report that they have been unable to access emergency services funding for a continuous span of eight months. Pisit Pongsirisupakul, the vice-chairman and secretary-general…
