Economy

BOI approves new rail services, new port investment

BOI approves new rail services, new port investment

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The Board of Investment of Thailand (BOI) has laid out strategies to boost the development of rail services and the country’s cruise tourism. Duangjai Asawachintachit, BOI secretary general, says the latest BOI meeting chaired by the Prime Minister had resolved to instigate measures to attract investment in rail development and […]

KBank expects 10 times digital lending

KBank expects 10 times digital lending

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BANGKOK: Kasikornbank (KBank) has set an ambitious goal of 10 times growth in digital lending this year, targeting low-income earners who are not bank customers. The bank expects its digital lending outstanding to expand aggressively to B10 billion in 2019 from B1bn last year, said president Kattiya Indaravijaya. KBank plans […]

Phuket dodges major economic impact from Pabuk

Phuket dodges major economic impact from Pabuk

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PHUKET: Leading figures for Phuket’s tourism industry say that the island has dodged any major economic impact from the fallout of tropical storm Pabuk passing through the region. As many as 28 flights arriving or departing Phuket International Airport were cancelled over Jan 3-4 heading into last weekend. However, both […]

Holiday spending to rise as oil prices drop

Holiday spending to rise as oil prices drop

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BANGKOK: Festive spending is expected to increase this year from 2017, with a decline in oil prices helping raise the purchasing power of Thais during the New Year season, according to a university survey. Thanavath Phonvichai, vice-president for research at the University of the Thai Chamber of Commerce (UTCC), said […]

Another Thai interest rate hike predicted for next year

Another Thai interest rate hike predicted for next year

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We’ve just had one .25 basis point interest rise to the base rate. Now there’s already talk of another in 2019 which will start to affect consumer spending, especially mortgage holders. Siam Commercial Bank (SCB) and Phatra Securities are predicting that the Bank of Thailand (BOT) is likely to implement […]

Bank of Thailand ups policy rate to 1.75 percent, first rise in 7 years

Bank of Thailand ups policy rate to 1.75 percent, first rise in 7 years

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The Bank of Thailand has increased its policy rate by 25 points, up from 1.50 percent to 1.75 percent. It’s the first rise in seven years. The Monetary Policy Committee voted 5:2 to raise the one-day repurchase rate to 1.75 percent with immediate effect after the rate was kept unchanged for […]

Arrivals up 20% in wake of VOA exemption, officials claim

Arrivals up 20% in wake of VOA exemption, officials claim

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BANGKOK: Tourist arrivals to Thailand are reportedly up 20% in the latter half of November in response to the government’s visa-on-arrival (VOA) fee waivers, with India the star market. Visitors from other major markets like China are also bouncing back, according to Tourism and Sports Minister Weerasak Kowsurat. Arrivals from […]

Chinese tourists still number one visitors to Phuket

Chinese tourists still number one visitors to Phuket

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The Deputy Director of the Phuket Tourism Authority of Thailand, Montri Manator, says, “Numbers of Chinese tourists visiting Phuket in tour groups have been continuing to decrease after the Phoenix sinking on July 5 this year.” “On the other hand, Chinese tourists who are visiting Phuket by themselves, called FIT […]

Vegetarian Festival price gouging arrives ahead of tomorrow’s festival

Vegetarian Festival price gouging arrives ahead of tomorrow’s festival

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Vegetable prices have climbed up by a few baht per kilo ahead of the Chinese Vegetarian Festival, which will officially kick off tomorrow, principally in Phuket and Bangkok. Vendors at a fresh market in Bangkok believed vegetable prices would soar even higher during the festival, which runs up to October […]

Thai economy’s growth in 2018 projected at 4.5% – World Bank

Thai economy’s growth in 2018 projected at 4.5% – World Bank

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Things are looking up for more economic smiles in the Land of Smiles with more positive news coming out of the World Bank. Projections are being revised upward, again. The World Bank says it’s adjusted its projections for Thailand’s economic growth upward, for the whole of 2018, to 4.5%, from […]