Major gold traders have agreed to use the US dollar in order to limit volatility in using the baht, says a Bank of Thailand senior executive. The central bank agrees in principle with major local traders using only the dollar for gold trading and settlement to mitigate foreign exchange volatility in the trade. The move is […]
Read MoreThailand’s economy is expected to be impacted severely by Covid-19, shrinking by at least 5 per cent in 2020 and taking more than two years to return to pre-virus GDP levels, according to the World Bank’s Thailand Economic Monitor, released today (June 30). The pandemic has “shocked the economy especially in the second quarter of […]
Read MoreThailand’s manufacturing production index (MPI) in May climbed slightly from April to 80.3, but was still down by 23.1% year-on-year. The improvement was mainly attributed to the easing of the lockdown, though overall production was unimpressive as businesses struggled against weak domestic purchasing power, lower exports, a global economic slowdown, a drought and the nationwide […]
Read MoreThe government will deploy its seventh tranche of COVID-19 loans, this time to about 300 business affected by the pandemic, in the first week of July. Construction businesses are likely to be considered for next loan tranche from the K200 billion to K500 billion pool under the government’s COVID-19 Economic Response Plan released on April […]
Read MoreMANILA, Philippines — The net income of the Bangko Sentral ng Pilipinas (BSP) dropped by 24.5 percent to P9.9 billion in the first quarter from P13.13 billion in the same quarter last year on the back of lower gains on foreign exchange rates fluctuations. Data released by the central bank showed total revenues, comprised of […]
Read MoreTravel between Cambodia and Malaysia may resume with fewer restrictions, it’s been announced. A call for the move was made because of high demand from Malaysian businessmen based in Cambodia and on the understanding that the COVID-19 situation has now been brought under control in both countries. That is the view of the President of […]
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