The baht opened at 32.29 to the US dollar on Wednesday, weakening from Tuesday’s closing rate of 32.20. The Thai currency is likely to move between 32.25 and 32.40 during the day, Krungthai Bank market strategist Poon Panichpibool said. Poon said the baht was still under pressure from the dollar and the Covid-19 situation especially […]
Read MoreBENGALURU (REUTERS) – Malaysian budget airline AirAsia Group said its digital units have acquired two Thai technology businesses from Indonesian ride-hailing and payments firm Gojek for US$50 million ($67.4 million), according to a stock exchange filing on Wednesday (July 7). The acquisition involved 100 per cent of the equity interest in Velox Technology for US$40 million […]
Read MoreThe Thai Chamber of Commerce (TCC) is advising the government against setting up a national shipping firm in a bid to boost Thailand’s competitiveness. Phumin Harinsut, TCC’s vice-chairman, said Thailand had established a shipping company in the World War II era which was eventually closed in 2011. “This company had to hire foreign shippers to […]
Read MoreThe Federation of Thai Capital Market Organizations (Fetco) has suggested the government consider raising the public debt ceiling from 60% of GDP because the country requires more economic relief funds amid a worsening pandemic and the possibility of a delayed reopening. Paiboon Nalinthrangkurn, chairman of Fetco, said Thailand’s public debt is likely to surpass the […]
Read MoreDespite tourism operators and tourism-related agencies giving their blood, sweat and tears to ensure that the Phuket sandbox scheme marked the country’s reopening on July 1, their work is not yet complete. Instead, it just marks the beginning of a long road towards recovery. As of Tuesday, the island had already welcomed 1,896 international travellers […]
Read MoreThailand’s economy faced significant downside risks and limited policy room should be preserved to be used for the most effective time, the central bank’s minutes of its last meeting showed on Wednesday. A prolonged coronavirus outbreak could cause Southeast Asia’s second-largest economy to underperform the baseline projection, squeezing business liquidity and slowing employment, the meeting minutes said. […]
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