Economy

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 […]

KResearch cuts GDP growth forecast again to 3.7%

KResearch cuts GDP growth forecast again to 3.7%

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KASIKORN RESEARCH Centre has made its third revision of the year to its forecast of the country’s economic growth because of the slow recovery of the export sector and the slowdown in private consumption. Early in the year, KResearch targeted growth in gross domestic product at 5 per cent before […]

HSBC cuts GDP growth forecast to 2.8% for 2013

HSBC cuts GDP growth forecast to 2.8% for 2013

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HSBC has slashed its expansion forecasts for Thailand to 2.8% this year and 4.4% next year after downbeat economic growth in the first half. The government should allocate more of its budget to ensuring more sustainable growth, said HSBC’s Asean economist Su Sian Lim. HSBC previously projected that Thailand’s gross […]

Baht has best week for five months

Baht has best week for five months

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The baht was poised for its best week in five months as foreign investors increased their holdings of the nation’s assets amid optimism that a global economy recovery is brightening the outlook for Asian exports. The currency touched its strongest level in more than three weeks as exchange data show […]