Thai exports fell 26.6 per cent in May from a year earlier to US$11.7 billion, the biggest monthly decline ever, Permanent Secretary for Commerce Siripol Yodmuangcharoen announced on Friday.
Luxury condominium developer Raimon Land Plc has consolidated its investment in “The River” by acquiring an additional 25% stake in Taksin Hotel Holding Co., Ltd “THH” from Lehman Brothers Bangkok Riverside Development Pte Ltd, and boosts the construction program. THH is a parent company of Taksin Properties Co., Ltd “TPC”; TPC is the owner of “The River”.
China, the pioneer of regional recovery from the Asian Financial Crisis of 1997-98, now looks set to do the same again for its Asian neighbours.
At long last, Pattaya is to get broadband internet with True Online’s imminent inauguration of its 8-megabit high-speed service. Pattaya has been chosen to lead the provinces, due to its high concentration of expat farangs, foreign tourists and teenagers, according to Non Ingkutanon, True’s Deputy Director for Wireline Broadband Services.
Despite economic sluggish and political turmoil in Thailand, most foreign investors are still willing to invest in this country as they watch the government’s policy and see how it solve problems prevailing in the country first, according to Thai Finance Minister Korn Chatikavanij.
As an urgent remedial measure to counteract the recent negative impact of the Red-Shirt riots in Bangkok and the storming of the Royal Cliff, deemed to have had far more of a deleterious effect internationally than the Yellow-Shirt closure of the Bangkok airports, the Tourist Authority of Thailand is making every effort to attempt a radical revamp of Thailand’s international image. Tourist concerns in Pattaya are also currently working in full support of TAT, notably by its hotels offering free rooms.
With all the recent negative media publicity concerning Thailand in general, it is gratifying to see that a British overseas property consultant has recently given Pattaya a vote of confidence.
The economic crisis has begun to clearly bite into Thailand’s business sector as is witnessed by the swift decline in listed companies’ profitability and debt repayment prospects due to the weakening of local and overseas demand, according to the Bank of Thailand (BoT).
Bank of Thailand (BoT) Governor Tarisa Wattanagase on Wednesday confirmed that the Thai economy will shrink for the first time in 11 years amid large-scale global economic volatility.
Stock Exchange of Thailand (SET) president Pattareeya Benjapolchai on Tuesday announced that SET plans to decrease the target number of companies seeking initial public offerings (IPO) of shares both on the bourse and the Market for Alternative Investment (MAI) following the first quarter of this year.
Pattaya City Management and the Telephone Organization Of Thailand (TOT) are to co-operate in a new initiative to develop IT technology in the resort for the benefit of residents and visitors alike.
As Thailand‘s automobile production and sales are expected to retreat sharply this year due to the global economic slump, four domestic auto and parts institutions on Monday sought government assistance from Industry Minister Charnchai Chairungrueng.
Property stimulus packages issued by the government on Tuesday to boost economic growth will encourage people to decide to buy houses without any delay.
Prime Minister Abhisit Vejjajiva on Monday revealed that his government and the Bank of Thailand (BoT) have a common objective -- to maintain Thailand‘s economic growth rate and to ease the impacts of the current economic hardships on the life of the people.
Thai Prime Minister Abhisit Vejjajiva said Tuesday the problem of the widespread appearance of counterfeit Bt1,000 banknotes in the market must be solved quickly because it had affected public confidence on spending.
Federation of Thai Industries (FTI) chairman Santi Vilassakdanont on Tuesday expressed support for newly-elected Prime Minister Abhisit Vejjajiva‘s stated intention to head his government‘s economic team, saying the premier-elect could make decisions on his own if he joined a meeting of the team.
Hours after Democrat Party leader Abhisit Vejjajiva was elected as Thailand‘s 27th prime minister Monday and began forming a new coalition government, ranking business executives called on him to speedily address the nation‘s social divisiveness and to accelerate the government‘s budget disbursements in order to boost public spending.
As economic repercussions are spreading through most every part of the world, a senior Thai financial civil servant has called for a new government to be formed soon -- this month -- to speed distribute the nationally budgeted spending more quickly and lowering taxes, if possible, aimed at reducing the impact of massive lay-offs of workers in Thailand in 2009.
The new government, expected to take shape next week, should brace for rising unemployment caused by the slowdown in the world economy and Thailand‘s unstable domestic scene, still gripped by political turmoil which remains a threat to the well-being of the country, a senior official of the Federation of Thai Industries (FTI) warned Friday.
Acting Finance Minister, Suchart Thada-Thamrongvech, on December 8, admitted to being seriously concerned that the country‘s economic problems will intensify in Q1,2009.