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UPDATE: BOT said Thailand could go into a recession of 8.1 per cent in 2020; export value could contract by 10.3 per cent
The Bank of Thailand (BOT) has lowered its GDP projection for 2020 down from a contraction of 5.3 per cent to a recession of 8.1 per cent on Wednesday. The Monetary Policy Committee (MPC) has also decided to maintain the...
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Projects under the 400 billion baht budget will be able to stimulate economy, says NESDC, but oppositions still doubt it
The proposals for the first phase of the economic
stimulus projects under the 400 billion baht budget has now surpassed 40,000
projects, the National Economic and Social Development Council (NESDC) announced
on Tuesday.This budget is part of the government’s emergency loan
for relief...
Market Watch
Market waits for new economic numbers and government measures; window dressing to start next week
Investors on the Stock Exchange of Thailand (SET) are waiting to see the new economic numbers from the Bank of Thailand (BOT) on Wednesday.The BOT’s Monetary Policy Committee will provide the results of its meeting in the afternoon. Brokers...
Market Watch
Prime Minister says SOE could be extended while 400 billion baht stimulus to be disbursed in July
Prime Minister Chan-ocha said after the cabinet meeting on Tuesday that the extension of the State of Emergency (SOE) is still under discussion.The SOE is due to expire at the end of June.“There is still a need to use...
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Bank shares recover on Tuesday; second wave of stimulus on the way
Banks’ shares are recovering on Tuesday following a massive sellout on Monday that was triggered by the Bank of Thailand (BOT)’s decision to ban them from paying out their interim dividends. The BOT announced last Friday evening after the stock...
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Best performing company in Thailand in 2020 launches IPO of its rubber glove subsidiary
Sri Trang Agro Industry PCL , Thailand's largest natural rubber producer, is planning to raise at least half a billion dollars in an initial public offering (IPO) of its rubber-glove subsidiary Sri Trang Gloves Thailand which will run...
Market Watch
Analysts said MPC will maintain rate at its next meeting; the bullet is not needed this time
Analysts said the Bank of Thailand’s Monetary Policy Committee (MPC) will likely hold the country’s benchmark lending rate at 0.5 per cent at its next meeting on Wednesday.Kasikorn Research Center said the MPC will maintain the policy interest rate...
Market Watch
Japanese and South Korean businesspeople within the EEC could be the first group of foreigners to enter Thailand with the new “business bubble”
The Eastern Economic Corridor Office (EECO) said on Monday that they will introduce a “business bubble” scheme to the Center for Covid-19 Situation Administration (CCSA)’s meeting on Friday.Kanit Sangsubhan, secretary-general of the EECO, said after their meeting, chaired by...
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Banking association supports central bank preventative measures
The Thai Bankers' Association (TBA) said on Monday that they support the Bank of Thailand (BOT)’s move to stop banks from paying interim dividends for the first half of 2020 and suspend share buybacks. The central bank said the move...
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Johnson & Johnson to discontinue skin whitening line in Asia after BLM backlash
Johnson & Johnson , an American multinational corporation selling pharmaceutical and personal care products, is ending their skin-whitening products popular in Asia and the Middle East following the global debate about Black Lives Matter and racial inequality, the company...
