The cabinet on Tuesday decided that ailing Thai Airways International Plc (THAI) must go through rehabilitation via the bankruptcy courts in a “difficult but necessary” decision that ushers in complex, make-or-break steps for the national carrier, according to Prime Minister Prayut Chan-o-cha. Gen Prayut insisted the cabinet had opted out of throwing a financial lifeline […]
Read MoreA group of mall operators has called on the government for remedy, citing losses of almost 15 billion baht worth of sales revenue during forced closure between March 22 to May 17. According to a source from the Thai Shopping Centers Association (TSCA) who requested anonymity, the association recently filed a letter with the government […]
Read MoreThe cabinet on Tuesday resolved that cash-strapped Thai Airways International (THAI) would file for bankruptcy at the Central Bankruptcy Court in order to work out its rehabilitation plan. Prime Minister Prayut Chan-o-cha said it was the best course to help the troubled airline back onto its feet. Under the rehabilitation plan, THAI would not receive […]
Read MoreAFP – Thailand’s economy shrank for the first time in six years because of the Coronavirus pandemic, which has shut borders and devastated the tourism-reliant country. Some 40 million tourists were expected to arrive in Thailand this year, drawn to its sandy beaches, infamous nightlife and street food culture. But the outbreak has sharply bruised the […]
Read MoreThe state planning unit, the National Economic and Social Development Council (NESDC), has cut its economic forecast to a contraction of 5-6% this year, down from the 1.5-2.5% growth projection made on Feb 17. The agency cited a raft of negative factors, including the severe downturn of the global economy and merchandise trade, a sharp […]
Read MoreInvestment applications for 10 special economic zones (SEZs) remain low compared with those made for the flagship Eastern Economic Corridor (EEC), with the number of projects and investment value totalling 75 projects and 11 billion baht, respectively, from 2015 to April 1, 2020. According to the latest report by the National Economic and Social Development […]
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