Economy

Phuket floods already, and more rain on the horizon

Phuket floods already, and more rain on the horizon

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PHUKET: Steady rain in Phuket caused minor flooding this morning at the usual places in Phuket: in front of Patong Hospital and on Chao Fa West Road in Chalong. However, no roads were reported to be cut off and small vehicles were able to make their way through the water. […]

Commerce cuts inflation target, says deflation not an issue

Commerce cuts inflation target, says deflation not an issue

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Deflation is not currently an issue, the Commerce Ministry insists, despite its decision to lower the full-year inflation target to just 2.1-2.6 per cent. While acknowledging that the rate of inflation has slowed, newly appointed Commerce permanent secretary Srirat Rastapana yesterday said Thailand had not yet moved into a deflationary […]

Mobile phone market grows at rapid clip

Mobile phone market grows at rapid clip

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Defying both the lagging economy and the consumer slowdown, Thailand’s handset market continues its double-digit growth this year thanks to a spike in smartphone sales. Smartphones continue to drive the vibrant performance of the mobile phone market, propelling the country’s overall handset industry to expand by at least 10% to […]

ADB cuts 2013 Thai growth forecast

ADB cuts 2013 Thai growth forecast

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The Asian Development Bank (ADB) has slashed its 2013 gross domestic product growth projection for Thailand from 4.9% to 3.8%, Luxmon Attapich, senior country economist at the ADB’s Thailand resident mission, said on Wednesday. Thailand’s economic growth figure in the first half of the year was lower than earlier expected. […]

Nearly half of travel firms expect lower sales this year

Nearly half of travel firms expect lower sales this year

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Faltering economy, weakening in consumer spending power expected to hit operators’ profit margins: TAT poll Tourism operators do not see their industry emerging as a “hero” to save the economy this quarter, blaming falling consumer purchasing power and the rising cost of living for undermining their business. In a poll […]

Tesco, Makro, Big C to freeze, reduce prices

Tesco, Makro, Big C to freeze, reduce prices

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Three giant modern-trade operators – Tesco Lotus, Big C Supercentre and Makro – have agreed with the Commerce Ministry to freeze or reduce the prices of more than 2,000 consumer goods and foods until the end of the year, as part of efforts to rein in the rising cost of […]

BOT fears volatility amid crisis in major economies

BOT fears volatility amid crisis in major economies

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The Bank of Thailand yesterday raised the spectre of more money market volatility, given no real solution seen in major economic powers’ crises, while giving reassurances that the country has both monetary and fiscal tools at hand to deal with extremes. “There is no clear light at the end of […]

Fanciful Tourism Figures Do Phuket No Good

Fanciful Tourism Figures Do Phuket No Good

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PHUKET: When it comes to numbers and tourism on Phuket, the Tourism Authority of Thailand appears to have a problem. An article was published in a national newspaper today, saying that the TAT is targetting 14 million arrivals for Phuket for next fiscal year. This would be an increase from […]

Thailand No 16 in change readiness

Thailand No 16 in change readiness

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Thailand ranks 16th in KPMG’s 2013 Change Readiness Index (CRI) out of 90 economies surveyed. A new study by KPMG International gives insight into the capacity of countries to respond to change caused by shocks such as natural disasters or longer-term trends such as technology, demographics, global competition and investment.The […]

Analysts predict 8% profit growth for property sector in H2

Analysts predict 8% profit growth for property sector in H2

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With about Bt78 billion in unrealised revenue from secured contracts, property firms should post 8-per-cent-higher profits in the second half of this year compared with the same period last year, according to Maybank Kim Eng Securities (Thailand)’s securities analysts. However, risk factors such as loan rejection and intense competition should […]