Thursday , November 21 2019
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Thailand

Corporate debt market in Thailand well positioned for further growth

Corporate debt markets in Brazil (Ba2 stable), China (A1 stable), South Africa (Baa3 negative) and Thailand (Baa1 positive) are best-placed to achieve further growth in the coming years, Moody’s Investors Service said today in a report that analyzed trends in 35 emerging markets. Study of 35 EMs highlights the key factors for growth of domestic corporate bond markets These four ... Read More »

GDP growth slows to 0.1% in Q3

Thailand’s trade-dependent economy grew at its slowest quarterly rate in a year in the third quarter, official data showed on Monday, leading the government to cut this year’s growth estimate once again. Southeast Asia’s second-largest economy expanded 0.1% on a seasonally adjusted basis, the weakest rate since a contraction in the third quarter of 2018, the National Economic and Social ... Read More »

Finance Ministry cuts economic growth outlook to 2.8%

BANGKOK: After three quarters, the global economic slowdown and the ongoing trade war between China and the United States, are still having an adverse impact on the Thai economy. The Ministry of Finance has now cut the country’s economic growth outlook to 2.8%, from the previous 3%. The Director-General of the Fiscal Policy Office (FPO), Lavaron Sangsnit, said today that ... Read More »

Foreign investment applications rise 69% in first nine months

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, according to ... Read More »

Hand-wringing over tariffs

The US recently stunned long-time ally Thailand by revoking trade privileges worth US$1.3 billion (39.2 billion baht) under the Generalized System of Preferences (GSP), stirring up anti-American sentiment among locals online after the latest in a string of protectionist trade policies favoured by US President Donald Trump. The US’s rationale for the move was Thailand’s failure to adequately protect worker ... Read More »

EIC Export growth forecast for 2019 is maintained at -2.5%

Although China and the US reached a preliminary trade agreement on October 10-11, 2019, the ongoing trade war should still drag on, pressuring export growth throughout the remainder of the year. Hence, EIC maintains its -2.5% export growth forecast for 2019. As for 2020, various factors will continue to suppress export growth, for example, sluggish key trade partners’ economic growth, ... Read More »

Huawei vows to boost Thailand’s tech ecosystem as it marks 20 years in Thailand

Huawei Thailand on announced its mission to build a thriving technology ecosystem in celebration of its 20th anniversary in Thailand. In line with the theme “Together for a Fully Connected, Intelligent Thailand”, Huawei said it was committed to bringing the latest information and communications technology to the country. “This year marks a significant milestone for Huawei, as we are celebrating ... Read More »

Strong baht sends jitters through Thai export sector

The baht has gained 5.5% against the US dollar since January and now stands at 30-31 baht per US$, outperforming other currencies in the region. Thailand’s private sector has expressed serious concern over the strengthening baht, which has rallied to its highest level against the US dollar for six years and may badly affect the country’s exports of agricultural produce ... Read More »

Thailand to join RCEP in a bid to form world’s biggest trading bloc

During the ASEAN summit earlier this year in Bangkok, the Thai government, as the ASEAN chair, pushed RCEP members to agree to conclude RCEP talks by the end of this year. RCEP is a proposed free trade agreement between the 10 ASEAN members and the six Asia-Pacific countries with which ASEAN has free trade agreements, namely Australia, China, India, Japan, ... Read More »

Thai private sector cuts economic growth forecast to 2.7-3% from 2.9-3.3%

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) agreed to lower down the economic growth projection (GDP) to 2.7-3% from 2.9-3.3% due to weakening economic growth during the first three quarters of the year. The global economic slowdown, as a result of trade tensions between China and the United States, compounded by a strong baht currency, continues to ... Read More »

Thai duty free giant King Power considers move into UK hotel industry

The CEO of King Power, Aiyawatt Srivaddhanaprabha, says the group is considering a move into the hospitality sector in the UK. Speaking to the press yesterday, Aiyawatt says the idea comes at a time when property prices in the UK and Europe are dropping as a result of the global economic slowdown. “Our deal will be finalised next year or ... Read More »

Tax revenues up 5% with month left in fiscal year

The Revenue Department collected Bt1.7 trillion in taxes in the 11 months of fiscal 2019 to date, far exceeding its target of Bt36 billion. Director-general Ekniti Nitithanprapas said the Bt1.7 trillion represented a 5.1-per-cent increase over the Bt85.54 billion collected in the same period last year.Corporate income tax came in at Bt554.12 billion (Bt4.5 billion beyond expected, for a 4.2-per-cent ... Read More »

Commerce Ministry to revive Thai-EU FTA talks

BANGKOK: To cope with economic uncertainties and fluctuations caused by international trade issues, the government is aiming to establish Free Trade Agreements (FTAs) with other countries as a tool to promote Thai exports. The Ministry of Commerce is now set to resume Thai-EU FTA talks, which have been on hold since 2014. A seminar will be taking place to take ... Read More »

Thai business community urges more action against fake goods

A group from the Thai business community in Cambodia has urged the government to crack down on those selling counterfeits of products made in Thailand in the kingdom. The call on Thursday came during a workshop on Countering Counterfeit Products jointly organised by the Thai embassy in Phnom Penh and Thai Business Council in Cambodia (TBCC) in collaboration with the ... Read More »

Man arrested at Thai airport after ‘swallowing 1,200 grams of cocaine’

Glenn Chibasellow Ooko, 43, was arrested at Suvarnabhumi International Airport this week after it was discovered he has 1,200 grams of the drug on him. Nigerian national Joseph Ukpa Osita, 40, who allegedly hired him to bring drugs into Southeast Asian countries was later arrested in Bangkok. Office of the Narcotics Control Board (ONCB) chief Niyom Termsrisuk said airport task ... Read More »

Thailand’s Two Significant Industries to be Showcased At Bangkok RHVAC 2019 and Bangkok E&E 2019

The Department of International Trade Promotion (DITP), Ministry of Commerce joined hands with the Air-conditioning and Refrigeration Industry Club and the Electric and Electronic Industry Club, the Federation of Thai Industries to stage the Bangkok Refrigeration, Heating, Ventilation and Air-Conditioning 2019 (Bangkok RHVAC 2019) and the Bangkok Electric and Electronics 2019 (Bangkok E&E 2019), a significant trade arena for Thai ... Read More »

Man arrested at Thai airport after ‘swallowing 1,200 grams of cocaine’

Glenn Chibasellow Ooko, 43, was arrested at Suvarnabhumi International Airport this week after it was discovered he has 1,200 grams of the drug on him. Nigerian national Joseph Ukpa Osita, 40, who allegedly hired him to bring drugs into Southeast Asian countries was later arrested in Bangkok. Office of the Narcotics Control Board (ONCB) chief Niyom Termsrisuk said airport task ... Read More »

Thais warned against smuggling drugs into Japan

Thai travellers have been warned of the dangers of smuggling illicit drugs into Japan, amid a “shocking” increase in the number of Thais arrested there for trafficking. The Thai embassy in Japan said visitors should be aware of the harsh penalties for drug trafficking, and also warned travellers not to carry items into Japan for other people. The embassy statement ... Read More »

Weekend RCEP meeting move closer to the world’s biggest trading bloc

Whilst the UK looks to walk away from the EU trade bloc and the US continues to ramp up the trade war with China, the formation of the Regional Comprehensive Economic Partnership (RCEP), which would be the largest trade bloc in the world, continues to gather pace. The RCEP, initiated by ASEAN in 2012, is a proposed free trade agreement ... Read More »

Thailand’s currency keeps getting stronger and that’s sparking concerns

The Thai baht has soared against the U.S. dollar this year, significantly more than many other emerging market currencies. That strength, however, is sparking concerns as the country’s domestic economy weakens, analysts said. Since the beginning of this year, Thailand’s currency has jumped more than 5% against the dollar. On a year-over-year basis, it has bounded even higher — nearly ... Read More »