Heavy inundation in Ayutthaya will hit auto industry hard: Toyota exec; FTI calls for 25 per cent pay cut and delay in Bt300 minimum daily wage. Economic ripples from the nationwide flooding are reverberating, with rumours that some Japanese companies will relocate production facilities out of the country as some industrial estates are submerged and [...]
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Cut policy rate, aid disaster recovery: Kittiratt
Deputy Prime Minister Kittiratt Na-Ranong yesterday urged the Bank of Thailand to slash interest rates to help people and firms devastated by flooding to recover, as the government had inflation under control. “The central bank should consider reducing its policy rate at the upcoming meeting to help all industries and boost private sector growth,” he [...]
Kittiratt: Rice pledging scheme will be under-budget
Deputy Prime Minister for economic affairs Kittiratt Na-Ranong is confident that the government’s rice scheme will boost local rice prices and that the cost of the rice price pledging plan will be lower than expected, but a poll of economists concludes that corruption is inevitable. He predicted on Wednesday that the government’s rice mortgage scheme [...]
BoT warns of populist stimulus
The Bank of Thailand has cautioned against government policy to promote a consumption-led stimulus as it could fuel inflation while failing to lift the country’s economic potential. Prasarn Trairatvorakul, the central bank governor, said the economy was not in need of economic stimulus next year and trends did not warrant it. Intra-regional trade and emerging [...]
Zero-interest loans a reality
The Government Housing Bank has announced plans to offer new home buyers an interest-free mortgage of up to THB1mn (US$32,082) for the first three years. The programme is aimed at low-income earners and can carry terms of up to 30 years. The GHB said it will set aside up to THB20bn (US$641.6mn) for the programme, [...]
Kittiratt opposes SET privatisation
Ambitious plans by the Stock Exchange of Thailand (SET) to position itself as the Wall Street of Southeast Asia could be thrown in jeopardy after the government announced its opposition to transforming it into a private entity. The SET has been working for more than four years on a plan that would transform the organisation [...]
PTT expects investment boost from price float
The energy price restructuring approved by the National Energy Policy Council last week, which will see prices gradually floated, will benefit PTT and encourage the company to extend gas pipelines and boost the number of NGV stations to ensure sufficient supply for customers. A source at the Energy Ministry said PTT was expected to post [...]
Higher margin required for futures trading
Thailand Futures Exchange is raising the margin for SET50, gold and interest futures to cope with increasing volatility and the new margin requirement will take effect on October 7. Kesara Manchusri, managing director, said that under the new margin rule, deposits for SET50 futures will rise from Bt53,200 to Bt66,500 per contract, Bt50 gold futures [...]
Government plans radical tax cut overhaul
First-home scheme altered to help poor The government plans a review of the tax system, including possible cuts in personal tax deductions and tax privileges for corporate investors. Finance Minister Thirachai Phuvanatnaranubala yesterday said tax reform is critical for helping the economy to remain competitive. Reform would cover corporate,individual and consumption taxes. The Yingluck Shinawatra [...]
AIS to double 3G network capacity
* Advanced Info Service Plc, the country’s biggest mobile operator, has underlined its mission to maintain its leadership in wireless services, with plans to double its 3G network capacity to 3,500 sites next year. Chief executive officer Wichian Mektrakarn said the company plans to double its 3G network capacity to accommodate up to 6 million [...]
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