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EconThai calls for wage hike to be based on inflation rate

The Employers’ Confederation of Thai Trade and Industry (EconThai) is urging the government to base the daily minimum wage calculation on inflation, not politically-motivated factors, as the Labour Ministry plans to enforce the new wage hike in October, which is sooner than originally anticipated. Tanit Sorat, vice-chairman of EconThai, said on Tuesday a 5-8% increase should be […]

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Thailand: Mother’s Day to see 9% rise in spending

Spending on Mother’s Day is expected to increase by 9% this year to 10.8 billion baht, the highest level since 2012, as consumers feel less concerned about the Omicron variant of Covid-19, reflecting the start of the country’s tepid economic recovery, according to the University of the Thai Chamber of Commerce (UTCC). Thanavath Phonvichai, president of […]

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Thai growth downgraded by Citibank

Citibank has downgraded its 2022 forecast for Thai economic growth to 3.5%, from 3.6%, with next year’s GDP predicted to expand by 4.5%, a fall from 4.8%. Nalin Chutchotitham, investment adviser at Citi Thailand, said the downbeat estimates were due to an expected slowdown in government spending and global growth. The bank also expects the […]

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Thailand: Banks vow to keep rates steady for the time being

Local major banks plan to hold their interest rates steady if the Bank of Thailand raises the policy rate on Wednesday, as they want to mitigate its impact on borrowers amid a gradual economic recovery. Kasikornbank (KBank) chief executive Kattiya Indaravijaya said the lender would keep its current interest rates unchanged if the central bank’s Monetary Policy […]

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