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Thailand: Banks feel dropped-fee pinch

The banking industry is expected to announce 10% lower earnings for the second quarter than the previous quarter, mostly attributed to the decision to eliminate fees for digital transactions. KGI Securities forecasts the combined net profit of nine listed banks in the second quarter of the year at 46.05 billion baht, down 10.7% quarter-on-quarter, but increasing […]

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Thailand: Central bank steps in to slow baht slide

The Bank of Thailand has moved to curb the baht’s rapid retreat against the greenback as the local currency hit a nine-month low. The central bank has sporadically taken action against the currency’s weakness by selling the US dollar to smooth out the baht’s movement after it depreciated at a faster pace, lowering foreign reserves, said […]

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Thailand: VAT return scheme for poor shaping up

The planned repayment of value-added tax (VAT) to government welfare smartcard holders is expected to take shape by the end of this year, a move meant to improve their purchasing power. The Finance Ministry is preparing to install a system to pay back consumption tax to the recipients of the government’s welfare scheme, said Finance Minister […]

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CBRE: Bangkok land prices rocket

Land prices in central Bangkok have increased by 1,000% since 1988 when property consultant CBRE established an office in Bangkok. Land prices rose dramatically during the Asian Tiger boom years from 1988-1996 before the market came to a grinding halt in the 1997 financial crisis. Price growth resumed in the early 2000s and there has been […]

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