Krungsri Finnovate, the corporate venture capital arm of Bank of Ayutthaya, has announced it invested an undisclosed sum in Grab and will collaborate to provide financial services on Grab’s platform. Mitsubishi UFJ Financial Group Inc announced previously it will invest up to US$706 million in Grab through MUFG Bank, MUFG Innovation Partners and Krungsri Finnovate […]
Read MoreThe Tourism Authority of Thailand (TAT) sees a worst case this year of 10 million foreign tourists staying home and 1.5 trillion baht lost as forward bookings continue to flash warning signs. TAT governor Yuthasak Supasorn said that if the coronavirus crisis extends beyond May, the number of tourists would hit rock bottom in that […]
Read MoreIn response to plunging oil prices, state-owned energy firm PTT Plc is urging policymakers to take action to cut the nation’s crude oil reserve in half as prices dip below US$30 a barrel. President and chief executive Chansin Treenuchagron said PTT will urge the government to reduce the volume of its oil reserve to 9-10 […]
Read MoreThe battle between Thailand’s retail titans for UK-based Tesco’s Asia business has reached an end, with Charoen Pokphand Group, the country’s biggest agribusiness conglomerate, submitting the winning bid for a deal worth more than US$10 billion. CP Group beat beer tycoon Charoen Sirivadhanabhakdi’s TCC Group Co and the Chirathivat family’s Central Group, Thailand’s biggest retailer […]
Read MoreWidespread unemployment is expected in the industrial sector this year as the economy braces for continued fallout from the coronavirus outbreak, just as over 500,000 new graduates leave university this May, says the Employers’ Confederation of Thai Trade and Industry (EconThai). The group is raising concerns about the possibility that many graduates will not be […]
Read MoreThe baht’s direction this week will be determined by developments in the spread of the new coronavirus outside China after the baht moved up against the US dollar last week, says Kasikorn Research Centre The baht this week from March 9-13 is expected to move in a range of Bt31.20-31.80/USD, Kasikorn Research Centre has forecast. […]
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