Saturday , January 19 2019
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Thailand

Gold prices up B50 to B19,550

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The Gold Traders Association this morning announced the buying prices at 19,101.60 baht per baht-weight for gold ornaments and 19,450.00 baht per baht-weight for gold bars. The selling prices were set at 20,050.00 baht per baht-weight for gold ornaments, and 19,550.00 baht per baht-weight for gold bars. The prices rose 50 baht from close. The buying prices closed on Saturday ... Read More »

ADB Cuts Thai Growth Outlook To 4.3%

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The Asian Development Bank (ADB) has slashed its economic growth forecasts for Thailand to 4.3% this year and 4.1% next year as the global economy sputters. The growth forecast for 2018 was trimmed from 4.5% predicted in September to 4.3% after the third quarter expansion slowed to 3.3% from 4.6% in the second quarter, according to an update of the ... Read More »

Inflation reached 4-year high in 2018

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Thailand’s annual headline inflation rose to a four-year high in 2018, boosted by energy and house rent, but the rate still moved in the target range set by the government. The Trade Policy and Strategy Office under the Commerce Ministry reported Wednesday that headline inflation, gauged by the increase in the consumer price index (CPI), was 1.07% for the whole ... Read More »

Gold prices fell B50 to B19,700

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Gold prices dropped 50 baht to 19,700.00 baht per baht-weight in Bangkok on Monday. The Gold Traders Association announced the buying price at 19,600.00 baht and the selling price at 19,700.00 baht per baht-weight for bullion. For ornaments, the buying and selling prices were 19,253.20 baht and 20,200.00 baht per baht-weight respectively. On Saturday the buying and selling prices closed ... Read More »

Domestic demand to boost 2019 Thai economy: Krungsri Research

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Krungsri Research predicts that the Thai economy will continue to grow by 4.1 per cent in 2019, close to the 4.3 per cent growth of 2018 and exceeding the post-crisis average of 3.8 per cent. Private consumption and private investment will be the major catalyst for growth, helping to offset the slowdown in external demand, they say. The expectation of ... Read More »

Easier payment options set up for taxes

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The Customs Department is offering bill payment services through online banking, counter service and bank branches to create more convenience for taxpayers and comply with the national e-payment strategy. With the new bill payment service, taxpayers no longer need to visit the Customs Department to pay taxes, said director-general Krisada Chinavicharana. The tax-collecting department yesterday signed a memorandum of understanding ... Read More »

Thailand Sees Strong Year End Economic Growth

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The Deputy Prime Minister for Economic Affairs has revealed that Thailand’s GDP growth this year is likely to end above four percent and that over 2 trillion baht is to be invested by the state in mega projects next year. Speaking at Thailand’s Economic Outlook 2019, Deputy Prime Minister Somkid Jatusripitak pointed out that if 3.3 percent in economic growth ... Read More »

Shirts soaked in meth: Tourist almost duped into drug smuggling

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TOKYO: Thai police announced the arrest of an Iranian man who delivered a suitcase filled with stimulant drugs to a Japanese man, who was duped over the Internet into thinking he could travel for free if he wrote a travel blog. The Iranian, identified as 43-year-old Mohamad Ali Ezazi, was arrested last immigration police acting on a tipoff from the ... Read More »

Thailand most unequal country in 2018

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Thailand has overtaken Russia and India as the most unequal country in the latest survey by a Swiss bank. “In 2016, the 1% richest Thais (500,000 people) owned 58.0% of the country’s wealth. In 2018, they controlled 66.9%, overtaking their peers in Russia whose wealth share fell from 78% to 57.1%,” he wrote. Apart from these four, there are no ... Read More »

Australian man, Thai wife sentenced to death in Bangkok for drug smuggling

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A Perth member of the notorious bikie group Hells Angels and his wife have been sentenced to death in Thailand for trying to smuggle half a tonne of crystal methamphetamine into Australia. Luke Cook, 34, and his Thai wife Kanyarat Wechapitak, 40, were arrested at Bangkok’s Suvarnabhumi airport last December and charged in relation to a 2015 plot to smuggle ... Read More »

Thailand jails three over smuggling of rhino horns

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A Thai court has sentenced three people to prison over the smuggling of nearly two dozen rhinoceros horns worth 1.5 million US dollars from Ethiopia. The bags carrying the 21 horns were discovered in March last year in a random customs search at Bangkok’s main airport. Officials found the horns, weighing almost 50 kilograms (110lb), inside luggage originating from Addis ... Read More »

Thailand sentences 3 to prison over smuggling of rhino horns

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A Thai court sentenced three people to prison over the smuggling of nearly two dozen rhinoceros horns from Ethiopia worth $1.5 million. The bags carrying the 21 horns were discovered in March last year in a random customs search at Bangkok’s main airport. Officials found the horns, weighing almost 50 kilograms (110 pounds), inside luggage originating from Addis Ababa, Ethiopia’s ... Read More »

Growth screeches to halt in Q3, worst since 2014

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The country’s economy surprisingly stalled in the third quarter, as exports and tourism softened, and the state planning agency showed less optimism on growth for all of 2018. Gross domestic product showed no growth in the third quarter from the second, on a seasonally adjusted basis, the National Economic and Social Development Board (NESDB) said. That was the worst result ... Read More »

Thailand BOI’s Tax Incentive To Support Infrastructure Development For EEC

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To drive concrete development of the Eastern Economic Corridor (EEC), Thailand’s Board of Investment (BOI) has recently approved investment incentive scheme. New incentives apply for the bidding winners of U-Tapao Airport’s Passenger Terminal 3 and Digital Park Thailand (EECd) development projects, two among six major development projects in EEC. With the biddings for the development of both projects planned for ... Read More »

China, Thailand ink trade deal

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Thailand and China on Wednesday signed a comprehensive framework agreement to enhance trade and the economic partnership between the two nations. The cooperation agreement, effective immediately, covers seven key areas: trade, investment, science and technology, digital, tourism, finance, and regional economic cooperation. On trade, the two countries aim to double two-way trade to UScopy40 billion (4.6 trillion baht) by 2021 ... Read More »

Thailand BOI’s Tax Incentive To Support Infrastructure Development For EEC

Infrastructure

To drive concrete development of the Eastern Economic Corridor (EEC), Thailand’s Board of Investment (BOI) has recently approved investment incentive scheme. New incentives apply for the bidding winners of U-Tapao Airport’s Passenger Terminal 3 and Digital Park Thailand (EECd) development projects, two among six major development projects in EEC. With the biddings for the development of both projects planned for ... Read More »

23 human traffickers arrested in Thailand crackdown

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BANGKOK: Twenty-three human trafficking “agents” were arrested during a major operation conducted by the Thai police to prevent southern Thailand from becoming a transit destination for migrants trying to cross illegally into Malaysia. The operation, which began in May, also uncovered major trafficking routes used by the human trafficking syndicates to smuggle illegals from Myanmar to Thailand, with Malaysia as ... Read More »

World Bank Raises Thai Growth Forecast To 4.1pc

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The World Bank has revised up Thailand’s economy growth this year to 4.1 per cent from its previous estimate of 3.6 per cent given the country’s robust performance. The bank has also revised up its forecast of Thailand’s economy in the year 2019 and 2020 to 3.8 per cent for both years, up from its previous estimate of 3.5 per ... Read More »

Thai Military Officers Convicted, Sentenced for Smuggling Rohingya

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A Thai court convicted two military officers and sentenced each to 27 years in prison for being involved in a transnational crime syndicate that smuggled Rohingya Muslims from Myanmar, officials said. Natthasit Naksuwan, an army colonel, and Kampanat Sangthongjeen, a navy captain, undertook the unauthorized and non-recorded removal of dozens of undocumented Rohingya migrants, who were being held by police ... Read More »

Bank Of Thailand’s New Rules To Tighten Mortgage Lending Are Credit Positive

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The Bank of Thailand (BOT, Baa1) announced measures to tighten credit underwriting standards in mortgage loans. Under the new rules, the maximum loan-to-value (LTV) ratio will be restricted at 80% on new mortgages for homes worth more than 10 million baht. The same LTV restrictions will apply for the purchase of a second home irrespective of the property value. Banks ... Read More »