Tuesday , October 17 2017
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Thailand’s record current-account surplus adds muscle to baht

current account

BANGKOK: The baht is at its highest point against the dollar in about two and half years, as Thailand’s policymakers and exporters worry that the strong currency could hurt industry. Read More »

Thai GDP to grow by 3.3 to 3.6%

high growth rates

BANGKOK: TRIS Rating expects Thailand’s gross domestic product (GDP) will grow by between 3.3 per cent and 3.6 per cent this year, compared with 3.2 per cent last year, driven by a recovery in exports, continued growth in the tourism industry, and a rise in household expenditure. However, TRIS Rating is still concerned about external risk factors such as risks ... Read More »

Thailand’s car market forecast to hot up in Q4 on rising stimulus


BANGKOK: Thailand’s car market is expected to display bullish sentiment in the fourth quarter thanks to intense market competition and stimulus measures from the government. Mazda and Ford reported their performances yesterday for the first nine months, both recording sales growth on par with the overall car market. Ford, ranked sixth by sales volume, posted year-on-year growth of 37% with ... Read More »

King Vajiralongkorn takes 3.3% share in Thailand’s SCB bank


BANGKOK: King Maha Vajiralongkorn Bodindradebayavarangkun has personally become a major shareholder in Siam Commercial Bank (SCB) following the transfer this week of shares held by the Crown Property Bureau (CPB) valued at about $500 million. The CPB manages assets owned by the Thai crown, including prime real estate in Bangkok and upcountry, and shareholdings in major listed companies such as ... Read More »

Bank of Thailand alarm over plight of poor


BANGKOK: The Bank of Thailand has painted a gloomy picture of private consumption prospects, saying the income of those at the bottom of the economic ladder is slow to recover while their debts keep increasing. “Looking forward, purchasing power will remain modest, especially that of the low-income earners whose income has not yet clearly recovered,” said Jaturong Jantarangs, assistant governor ... Read More »

ThaiBev pushes white spirits abroad


BANGKOK: Thai Beverage Plc, Thailand’s largest food and beverage company, is ramping up its white spirits expansion to cover Asean and North Asia, hoping to capitalise on the mass market in those regions. The move is also part of ThaiBev’s 2020 vision to become a stable and sustainable Asean leader in the beverage and food industry, with non-alcohol sales contributing ... Read More »

Thailand-Cambodia rail link a step closer

thai combo

BANGKOK: As an agreement on railway transport materialises, Cambodia and Thailand are set to hold a ceremony early next year to celebrate the official opening of the line that will connect Phnom Penh and Bangkok, a Ministry of Public Works and Transport official said. The ceremony will be attended by Prime Minister Hun Sen and hiss Thai counterpart, Gen Prayut ... Read More »

TGI sees rise in robotics workforce

Morocco’s auto industry exports likely to rise to $10b by 2020

BANGKOK: Thailand’s robotics imports are projected to increase by double digits in percentage terms over the next two years, thanks to the government’s new tax incentives and pressure from high labour costs, says the Thai-German Institute (TGI). Epson Thailand recently spent millions of baht to open the Epson Robotics Innovation Centre in collaboration with the TGI. “Robotics imports should continue ... Read More »

Thai shippers’ council raises 2017 export growth forecast


BANGKOK: Thailand’s exports are expected to grow at least 6 percent this year, better than the 5 percent predicted earlier, a group of Thai shippers said on Tuesday, thanks to improved global demand. Exports, a key driver of Thai growth, rose 8.9 percent between January and August from a year earlier. However, the strength of the baht remains a risk, ... Read More »

Bank of Thailand chief defends stance


BANGKOK: Bank of Thailand governor Veerathai Santiprabhob talked with the Bangkok Post to shed light on the decision to stay put on the policy rate at last week’s meeting, even as the Finance Ministry had called to ease it up. A rate cut against the backdrop of a global tightening could force the central bank to raise the policy rate ... Read More »

Thai Aug private consumption, investment rise

Morocco’s auto industry exports likely to rise to $10b by 2020

BANGKOK: Thailand’s private consumption and private investment in August rose from the previous month, central bank indexes showed on Friday, suggesting the economy is recovering at a faster pace. The Bank of Thailand’s (BOT) private consumption index for August increased 0.6 percent from the previous month, when it had risen 0.7 percent. The index for private investment edged up 0.1 ... Read More »

Thai Sept inflation rate seen edging up to 0.45%, factory output growth slows


BANGKOK: Thailand’s headline inflation rate may have increased only slightly in September while factory output growth slowed, a Reuters poll showed, suggesting the central bank still has room to keep interest rates low. The median forecast of 11 economists was for the headline consumer price index (CPI) to rise 0.45 percent in September from a year earlier. In August, it ... Read More »

Thailand-Pakistan FTA in final stages


BANGKOK: The Free Trade Agreement (FTA) between Pakistan and Thailand is in final stages which after implementation is expected to double the bilateral trade between both the countries. The Consul General of Thai Consulate in Karachi, Suwat Kaewsook, said this while speaking at the opening ceremony of three-day Thailand Exhibition on Friday, said a statement. Kaewsook said Pakistan has made ... Read More »

Exports forecast to outpace 7% target


BANGKOK: Continued bullish exports in August helped cumulative exports for the year rise more than 8%, making it likely shipments will exceed the government’s 7% growth target, says Commerce Minister Apiradi Tantraporn. Despite the stronger baht, exports grew at a double-digit pace for the fourth straight month in August, up 13.2% to US$21.2 billion (702.5 billion baht), the highest value ... Read More »

Thai Aug exports see sharp surge, despite strong baht


BANGKOK: Thailand’s customs-cleared annual exports in August grew at their fastest pace since January 2013, despite a strong baht , suggesting an economic recovery is gaining more traction. Exports account for about two-thirds of Southeast Asia’s second-largest economy, whose growth still lags regional peers. In August, exports climbed 13.2 percent from a year earlier, handily beating a Reuters poll forecast ... Read More »

Bank of Thailand unfazed by call for rate cut


BANGKOK: The Bank of Thailand is confident on the country’s outlook for economic growth, despite the concerns over a strong baht that prompted a call by the Finance Ministry for a cut in interest rates. The Finance Ministry this week urged the cut in rates in order to ease upward pressure on the baht. But Bank of Thailand governor Veerathai ... Read More »

Japan, Thailand sign 7 deals to strengthen economic ties

economic ties

BANGKOK: The Thai government and its Japanese trade counterpart on Tuesday (Sept 12) signed seven formal agreements covering industrial upgrades, investment in the Eastern Economic Corridor (EEC), human development, and support for small and medium-sized enterprises. The signing took place at the symposium on Thailand 4.0 Towards Connected Industries, hosted by the Thai government. Hiroshige Seko, Japan’s minister of Economy, ... Read More »

Thailand Sri Lanka Business Council holds 17th AGM


BANGKOK: The 17th annual general meeting (AGM) of the Sri Lanka Thailand Business Council (SLTBC) was held at Waters Edge, Battaramulla recently under the patronage of council President Rizan Nazeer. Thai Ambassador Designate to Sri Lanka Chulamanee Chartsuwan revealed in 2016, Thailand and Sri Lanka governments set a target to triple trade value between the two countries from presently US ... Read More »

More than 100 endangered pangolins seized in Thailand

Pangolin_Keith Coleen-Begg-2

BANGKOK: Thai customs officials have seized more than 100 live pangolins and 450 kilograms (990 pounds) of scales from the endangered animal in their latest action against illegal wildlife trafficking, the customs department chief said Thursday. The animals and animal parts were found Wednesday in two pickup trucks after authorities received a tip that they had been smuggled from Malaysia, ... Read More »

Thailand plans US$49b public-private partnership projects


BANGKOK: Thailand plans a five-year public-private partnership investment plan worth 1.62 trillion baht (US$48.80 billion) to mainly improve infrastructure and lower logistics costs, a senior finance ministry official said on Wednesday. The strategic plan for 2017-2021 will make investors confident such projects will continue over the next four to five years, Ekniti Nitithanprapas, director general of the State Enterprise Policy ... Read More »