The Bank of Thailand has reduced its economic outlook to a contraction of 8.1% this year, deeper than the 1997 financial crisis, but kept the policy rate on hold at 0.50%. The latest economic forecast for 2020 is worse than the record contraction of 7.6% for the Tom Yum Kung crisis, said Don Nakornthab, senior […]
Read MoreThe first group of foreigners to be allowed to enter Thailand will comprise business representatives, skilled workers, experts, people with Thai families, teachers, students and patients who agree to quarantine, according to the government. Taweesilp Visanuyothin, spokesman of the Centre for Covid-19 Situation Administration (CCSA), on Wednesday elaborated on the government’s plan to allow foreign […]
Read MoreBecause of unprecedented difficulties, Thailand may be outstripped by Vietnam in rice exports this year, but this may only be for the short term. The US Department of Agriculture in its May report showed that Thailand suffers heavily from drought, while Vietnam doesn’t. The agency predicted that Thailand’s rice output this year would decrease by […]
Read MoreMall operators Siam Piwat and The Mall Group are urging the government to allow resumption of flights from CLMV (Cambodia, Laos, Myanmar, Vietnam) nations in an effort to reboot the retail business. Mayuree Chaipromprasit, senior executive vice-president for marketing at Siam Piwat, said the company would like to ask the government to permit foreign tourists […]
Read MoreMortgage loan rejection rates in May and June subsided to pre-pandemic levels as homebuyers made decisions reflecting confidence in their income, says SET-listed developer Supalai. Managing director Tritecha Tangmatitham said the bank rejection rate for the company was 13% in May and June, down from 20% in March and April. “Customers who walk to project […]
Read MoreExport-Import Bank of Thailand says insurance claims soared 226% and foreign buyers’ delayed payment amount surged 195% in the first five months of 2020, signalling rising default risk in international trade. Exim Thailand’s export insurance clients filed documents on foreign buyers’ delayed payments for a total overdue amount of 617 million baht in the January-May […]
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Thailand
