Thailand, like other Asian countries, is likely to face stagflation next year, with lower economic growth against high inflation, in light of “debt monetisation” of advanced economies and growing demand in China, according to an economist. Kobsidthi Silpachai, head of market and economic research at Kasikornbank, said Thailand could witness slower growth in gross domestic […]
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Ford: B60bn local content
Ford has pledged to purchase nearly $2 billion or 60 billion baht per year worth of locally made parts once its new automobile plant in Rayong begins operations next year. The amount also includes purchases by the AutoAlliance Thailand (AAT) plant in Rayong, in which Ford and Mazda are 50:50 partners. The US carmaker said […]
Jakarta to buy elsewhere
Indonesia will seek to buy rice from other countries if Thailand does not honour an earlier agreement to sell the grain, Trade Minister Mari Pangestu said yesterday. The Indonesian ambassador to Thailand and an official from state grain procurement agency Bulog were to discuss the reported cancellation of a proposed government sale of rice to […]
Thai stocks rebound after plunge
The Stock Exchange of Thailand ended its dramatic three-day tumble with a gain of 4.71 per cent yesterday, on hopes that euro-zone nations are planning steps to rescue debt-riddled nations. However, stock analysts expect more foreign sell-offs after the “technical rebound”, on uncertainty over any measure being capable of permanently ending the euro-zone debt woes. […]
Fetco submits 7 proposals to Government
In a statement, it said that the global economic condition is in stark contrast to the first half when political parties unveiled their policies for the July 3 election. Among the proposals, it urged the government to set up a facility to shore up the market which plunges over 9 per cent today. As exports […]
Car, home schemes may expand
The government is considering expanding the coverage of both first-home and first-car buyers tax programmes. The cabinet is likely to waive the registration and transfer fees for homebuyers while authorising the Government Housing Bank to offer 10 billion baht worth of mortgages with a zero interest rate for 2-3 years for buyers of units priced […]
Fears of investment drought
The turmoil in global financial markets and fears of recession in Europe and the United States may scare investors away from Thailand and other developing countries, which need capital to boost their economies, Finance Minister Thirachai Phuvanatnaranubala said yesterday. “I’m more worried about abrupt capital inflows and outflows than the impact of an export slowdown,” […]
PTT chief on value quest
Pailin Chuchottaworn, the new president and chief executive of PTT Plc, has vowed to steer the national oil flagship further toward advanced technology, high-value and green products. “We will no longer stress commodity-grade production. Technology will be put into every product we sell.This will make higher selling prices and greater profit possible,” said Mr Pailin, […]
Palm oil industry wants price standards
Palm oil refiners have urged the government to set price standards to secure the industry and avoid future shortage. Asanee Mallamphut, president of the Palm Oil Refinery Association, said domestic prices should be in line with global ones, similar to the way gasoline sales operate, by considering costs at every step of production from the […]
Kohler plans Thai production base
Kohler, the US-based manufacturer of sanitary ware and plumbing products, has been promoting Thailand as its base for manufacturing and product development in the region to cash in on the coming Asean Economic Community, which will be fully effective in 2015. Kamol Lertsattha, managing director of Kohler (Thailand), said that Thailand will take on a […]
