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Thailand

Thai Q2 GDP growth seen cooling, weak private demand tempers export boost

fast growth

BANGKOK: Thailand’s economic growth is expected to have cooled slightly in the second quarter, as public and private investment slowed, offsetting some of the boost from stronger exports and tourism. Growth in South-East Asia’s second-largest economy has lagged its regional peers since the army seized power in 2014 to end months of political unrest. The junta has ramped up spending ... Read More »

Thai trade grows on increasing imports

fast growth

BANGKOK: Trade between Cambodia and Thailand reached $2.9 billion in the first half the year, a 10 percent increase compared to the same period in 2016, according to statistics from the Thai Embassy in Cambodia. The data showed Cambodia exported goods worth $453 million to Thailand in the first six months of the year, a 20 percent year-on-year decrease. Meanwhile, ... Read More »

Thai Airways net profit drops in Q2

Thai_Airways

BANGKOK: Thai Airways International Plc says its net loss in the second quarter deepened to 5.2 billion baht, from 2.9 billion a year earlier, due mainly to a jump in currency-exchange losses. Ailing flag carrier Thai Airways International posted a net quarterly loss of 5.211 billion baht ($156.7 million) in the April-June period after it recorded a marginal net profit ... Read More »

Thailand, Bangladesh to ink MoU on rice import today

agreement

DHAKA: Thailand has agreed to export up to 1.0 million tonnes of rice to Bangladesh in the next five years under government-to-government (G2G) arrangement. Of the total quantity, some 150,000 tonnes of rice will be available this year. A memorandum of understanding (MoU) to this effect is expected to be signed today (Thursday). The agreement came on Wednesday, the first ... Read More »

Thailand’s wheat imports revised up

wheat export

BANGKOK: Thailand’s wheat imports have been revised up to around 3.8 mmt in marketing year 2016/17, according to USDA GAIN report. Part of this upward revision is due to shrimp feed manufacturers who have used imported feed wheat in their feed rations following the Ministry of Commerce’s June 2017 decision to allowed 110,000 metric tonnes of feed wheat to be ... Read More »

Thai stock market draws firm lead

shares high

BANGKOK: The Thai stock market moved barely back to the upside on Friday, one session after it had ended the modest two-day winning streak in which it had gained almost 5 points or 0.3 percent. The Stock Exchange of Thailand remains just beneath the 1,580-point plateau and it figures to extend its gains on Monday. The global forecast for the ... Read More »

Thailand-Iran molasses trade hits highest in June

Thailand Iran

TEHRAN: Iran exported 31,230 tons of molasses to Thailand in June, which is a record monthly high since 2010, registering an eightfold increase compared with the previous month. Molasses is a viscous product resulting from refining sugarcane or sugar beet juice into sugar. Sugarcane molasses is agreeable in taste and aroma, and is primarily used for sweetening and flavoring foods ... Read More »

Thai shippers raise export growth forecast to 5%

employement rises

BANGKOK: Thailand’s exports are expected to grow 5 percent this year, better than the 2.5-3.5 percent it had projected earlier, a group of shipping firms said on Tuesday, but added that a strong baht was a threat. Exports between January and June rose 7.8 percent from a year earlier. Shipments will be driven by stronger global demand, particularly for electronics, ... Read More »

Thailand seeks trade partnership with Shan state

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BANGKOK: The Thai Foreign Trade Department will lead a mission to Myanmar’s Shan state in an attempt to boost border trade. Deputy director-general Adul Chotinisakorn said the trip is scheduled for Aug 7-12 with private Deputy director-general Adul Chotinisakorn said the trip is scheduled for Aug 7-12 with private organisations set to join the delegation. The aim is to expand ... Read More »

Surge in imported capital goods buoys FPO forecast

Philippines Jan. exports rise at fastest pace in 3 years

BANGKOK: An upsurge in imported capital goods in the second quarter bodes well for future private investment — the main engine that will drive and sustain economic growth — says the Fiscal Policy Office’s chief. Thailand’s imported capital goods jumped by 11.6% year-on-year during the three months to June, compared with the first quarter’s 3.4% reading, said Krisada Chinavicharana, director-general ... Read More »

Thai finance ministry keeps 2017 GDP growth outlook at 3.6%

gdp-growth

BANGKOK: Thailand’s economy is expected to grow 3.6 percent this year as forecast earlier, although exports are likely to increase more than expected, the finance ministry said on Thursday. The ministry now expects exports to increase 4.7 percent, up from 3.3 percent projected in April, despite a strong baht, Krisada Chinavicharana, head of the ministry’s fiscal policy office, told a ... Read More »

Thai police make $30m drug haul linked to Laos suspect

Afghan Special Forces nabs top drug smuggler ‘wolf’ in Nimroz

BANGKOK: Thai police announced the seizure of drugs worth $30 million, including seven million methamphetamine tablets, “ice” and liquid ketamine, from houses around Bangkok linked to an alleged Laotian drug lord. Nine Thais were arrested in the major two-day operation, which turned up 60 kilograms (132 pounds) of crystal methamphetamine — known as “ice” — and thousands of bottles of ... Read More »

Thai customs publishes new Customs Act

logo - Thai Customs

BANGKOK: Thailand published its new Customs Act B.E. 2560 (2017) in the Royal Gazette, the official journal in which new laws are announced. The Act, effective 180 days from publication, repeals the outdated and controversial Customs Act B.E. 2469 (1926) and its prior amendments. The historic new Act represents the culmination of many years of drafts, consultations, and sometimes contentious ... Read More »

Thai customs trade data revised, May exports up 12.7%

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BANGKOK; Thailand’s commerce ministry has made revisions to trade figures from 2012 to 2016, causing slight changes to recent data with annual export growth in May revised down to 12.7 percent from 13.2 percent previously. The annual May import rise has been revised to 18.3 percent from 18.2 percent. The trade balance remains the same. In the January-May period, annual ... Read More »

Thailand Board of Investment offers privileges to support Thai Infrastructure Development

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BANGKOK: Thailand’s strategically important geographic location gives it ample advantage to become a primary regional economic hub, not only in trade, investment and tourism, but also in communication and transportation networks that connect to other regions around the world. And the government has in recent years made investment in domestic infrastructure its top priority. The Thailand infrastructure action plan for ... Read More »

BoT ‘suppressed baht’ to bolster exports: KBank

Bank of Thailand in Bangkok

BANGKOK: The Bank of Thailand (BoT) intervened in the currency market last week in what was believed to be an attempt to prevent the baht strengthening so as to stop export recovery momentum stalling, according to a senior official at Kasikornbank (KBank). A sign of the central bank’s intervention was that the baht was pegged back at no more than ... Read More »

SET index rises 0.28%, closes up 4.48 to 1,579.41

SET logo - The Stock Exchange of Thailand

BANGKOK: The Stock Exchange of Thailand main index rose 0.28%, or 4.48 points, to 1,579.41 on Thursday. Total trading value was 45.2 billion baht, with 6.6 billion shares changed hands. SET50 index gained 0.33%, or 3.26 points, to 999.35 in trade worth 31.8 billion baht. MAI climbed 0.50%, or 2.81 points, to 55.73 in transactions worth 2.7 billion baht. Foreigners ... Read More »

Thailand considers e-commerce taxation

e-commerce taxation

BANGKOK: The Revenue Department (RD) of Thailand is considering ways to improve and increase revenue collection from businesses operating in electronic commerce (e-commerce). In the past few years, the RD has launched several attempts to include e-commerce business operators into the Thai tax system. It is planning to strip tax-exemption of goods worth under 1,500 THB (44 USD) for businesses ... Read More »

Thai police claim successful crackdown on ivory trafficking

ivory

BANGKOK: Thailand was considered to have the largest unregulated ivory market in the world before it introduced the Elephant Ivory Act in 2014 and 2015 Efforts by Thailand’s government to curb sales of ivory have been successful following criticism of widespread trafficking in the country, police and conservationists said. Police announced on Friday that since January, officials have seized two ... Read More »

Police in Thailand say ivory trade crackdown is successful

ivory

BANGKOK: Efforts by Thailand’s government to curb sales of ivory have been successful, following criticism of widespread trafficking in the country, police said Friday. Police announced that since January, officials have seized only two elephant tusks and 422 tusk fragments, while in the same period last year they seized 99 tusks and 22 tusk fragments. Deputy Police Commissioner Gen. Chalermkiat ... Read More »