The Bank of Thailand (BoT) on Wednesday said it had seen no unusual capital movements and the weakness in the baht currency was mainly driven by the strength of the US dollar. The BoT, in a text message to reporters, said the country’s external position and financial stability remained strong. The baht has weakened 8.8% […]
Read MoreHotels are struggling to raise room rates amid intense competition in the industry, despite pressure from higher operational costs due to surging electricity bills and wages. On Tuesday the cabinet agreed to raise the minimum wage from October, while the power tariff for the September-December period has reached a record high of 4.72 baht per kilowatt-hour […]
Read MoreThe cabinet on Tuesday agreed to extend a diesel tax cut for two months and extend an electricity subsidy until December to mitigate the impact of high energy prices, the government said. The cabinet approved extending the excise tax rebate of 5 baht per litre on retail diesel prices for two months to Nov 20, […]
Read MoreThe Economic Intelligence Center (EIC), a research house under Siam Commercial Bank, has upgraded its inflation rate projection for this year to higher than 6% before falling to the near the Bank of Thailand’s target range next year. The EIC increased its inflation assessment for 2022 to 6.1% from the previous forecast of 5.9%, mainly as […]
Read MoreBusinesses have mixed reactions to the new daily minimum wage hike finalised by the cabinet on Tuesday as they deal with a raft of economic challenges. The government agreed to new wages ranging from 328 to 354 baht, taking effect from Oct 1. Labour advocacy groups said earlier the last wage increase was in January […]
Read MoreThe cabinet on Tuesday approved extensions of both the diesel tax cut for two more months and the electricity bill subsidy until December, in an attempt to mitigate the impact of high energy prices. According to government spokesman Anucha Burapachaisri, the extension of the measures is necessary to help people suffering from rising costs of living […]
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