The government will bar the use of cryptocurrencies as a means of payment for goods and services, saying the wider use of digital assets threatens the nation’s financial system and economy. Business operators — including crypto exchanges — must not provide such payment services, and are barred from acting in a manner that promotes the […]
Read MoreThe banking system remains resilient with high levels of capital buffer to withstand future risks and uncertainties, the Bank of Thailand said on Tuesday, a day after S&P Global Ratings downgraded the top lenders citing increased systemic risks. The capital adequacy ratio of banking system stands at 20% and lenders have increased provisioning against bad […]
Read MoreThe Commerce Ministry pledges to address feed meal prices, which are surging because of the Russia-Ukraine conflict. According to Commerce Minister Jurin Laksanawisit, the ministry is scheduled to call a joint meeting today with four related parties comprising responsible government agencies, farmers, feed meal producers and livestock raisers to find solutions to tackle higher production […]
Read MoreVietnam has asked the government to expand a shipping navigation route between its Phu Quoc island and Thailand as part of a coastal shipping lane cooperation deal previously agreed by the two countries and Cambodia. The request was made at a meeting between Phan Chi Thanh, the Vietnamese ambassador to Thailand, and Transport Minister Saksayam […]
Read MoreThailand is heading for a rare back-to-back current-account deficit as the outlook for tourist arrivals becomes less rosy with a flare-up in Covid cases globally and energy import bills ballooning amid soaring oil prices. The net-oil importer may post a shortfall of $4.6 billion this year, according to Bank of Ayudhya Plc, which previously estimated […]
Read MoreThe baht opened at 33.46 to the US dollar on Wednesday, strengthening from Tuesday’s close of 33.54. Krungthai Bank market strategist Poon Panichpibool expects the Thai currency to move between 33.40 and 33.60 during the day. Poon said the baht was likely to swing in a wide range. However, the market was open to more […]
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