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Thailand: Tourism making gradual recovery

The recovery rate of Thai tourism was slower than in neighbouring countries because of a shortage of flights and the absence of key markets¬ such as China, according to leading regional travel tech companies. Wilfred Fan, chief commercial officer at Klook, a travel and experiences platform, said there was a strong recovery for cross-border travel in […]

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Thailand: BoT hikes policy rate as recovery gathers steam

The Bank of Thailand believes the country’s economy will take off in the final quarter of this year and return to pre-pandemic growth levels. As a consequence, the central bank increased its policy rate by a quarter-point despite mounting pressure from a projected global economic slowdown. The Monetary Policy Committee (MPC) on Wednesday¬ voted unanimously to […]

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Thailand: IRPC expects petrochemical prices to rise

IRPC, the petrochemical arm of national oil and gas conglomerate PTT Plc, expects prices of petrochemical products, which hit a 10-year low, to increase early next year as Covid-19 eases. Kris Imsang, president and chief executive of IRPC, blamed the impact of lockdown measures, enforced during the pandemic, as well as the Russia-Ukraine war, which […]

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Thailand: MPI declines as factories close

Thailand’s Manufacturing Production Index (MPI) fell by 3.71% year-on-year in October as some factories shut down for maintenance, but the¬ Industry Ministry remains optimistic about the growth of the full-year MPI. Major maintenance of petrochemical and plastic bead production facilities lowered the October index to 93.89 points, down from 97.89 points in¬ September, according to the Office […]

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Thailand: Frozen product business registrations surge 84%

Entrepreneurs have flocked to invest in the frozen food segment, with new business registrations rising by 84% in the first nine months, driven by rising domestic and export demand. According to Deputy Commerce Minister Sinit Lertkrai, new frozen food business registrations between January and October tallied 92, up from 42¬ in the same period last year, […]

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Bank of Thailand raises key interest rate

The Bank of Thailand (BoT) raised its key interest rate by 25 basis points for a third straight meeting on Wednesday, as it tries to contain above-target inflation while supporting an economic recovery facing increasing global headwinds. The BoT’s monetary policy committee voted unanimously to raise the one-day repurchase rate to 1.25% at its final […]

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