Several insurance companies are poised to suspend sales of Covid-19 insurance products with a lump-sum payout as policy sales approach their threshold of 500,000-750,000. Some insurers have paused sales to revise protection conditions, including implementation of a 14-day waiting period, after coronavirus insurance products sold briskly, said Suthiphon Thaveechaiyagarn, secretary-general of the Office of Insurance […]
Read MoreThe Thai Chamber of Commerce is calling on the government to come up with urgent measures to help “salarymen” after many companies initiated 15-day leave programmes without pay. The group is also asking for cooperation from its members that are struggling from the adverse impact of the coronavirus outbreak to retain their more than 10 […]
Read MoreCash payment growth in Thailand is expected to shrink in the coming years as digital payment transactions expand exponentially, says Bank of Thailand governor Veerathai Santiprabhob. “The annual growth rate of cash usage has declined to 2-3%, compared with 7-8% in the past few years,” he said in an exclusive interview with the Bangkok Post. “With […]
Read MoreNew relief measures for employees and self-employed workers ravaged by the coronavirus pandemic include soft loans with payment on principal and interest suspended for six months, but not cash giveaways, says a senior official at the Finance Ministry. Cash handouts are inappropriate at the moment and the budget is being spread thin, said finance permanent […]
Read MoreThe Tourism Ministry will seek a reprieve for some 500,000 tourists who will end up overstaying their visa now that countries in Europe have started sealing their borders to deal with Covid-19. “Most of the remaining tourists are long-stay elderly travellers from Germany, Italy and Russia who spend their winters here. They came to Thailand […]
Read MoreFitch Ratings has lowered its outlook on Thailand’s long-term foreign currency issuer default rating to stable from positive, reflecting impacts of the coronavirus spread on Thailand’s economy through its tourism sector and lingering political uncertainty after the country’s transition to civilian rule. At the same time, the international credit rating agency affirmed the country’s rating of […]
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