Business

SRT and Chinese firm sign contract for rail, electrical systems and carriages for HST project

The State Railways of Thailand (SRT) signed a 50-billion baht contract, with China Railway International Company Limited, today for the installation of rail, electrical systems and procurement of train carriages…

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Women walk past a row of bank automatic teller machines in a commercial building in Bangkok on September 1, 2020. (Photo by Romeo GACAD / AFP)

IMF readjusts Thailand’s GDP forecast from -7.7% to -7.1%

The International Monetary Fund (IMF) has adjusted Thailand’s GDP growth forecast, from -7.7% to  -7.1% for 2020. This is an indication that the Thai economy is recovering after the Government…

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Thai economy expected to contract in 2020, but will recover next year

The Organization for Economic Co-operation and Development, or OECD, has published its assessment of the Thai economy, saying that the pandemic has interrupted Thailand’s socioeconomic progress. In its recent 163-page…

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Two Chiang Rai tea products win Gold in World Green Tea Competition 2020 in Japan

Two companies in Thailand’s northern province of Chiang Rai have recently won Gold Prizes for their two tea products at the World Green Tea Competition 2020, held in Shizuoka prefecture…

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Two engineers from Energy Business Department nabbed for alleged bribery

Two senior engineers, working for Thailand’s Energy Business Department, have been arrested at their office by anti-corruption officials for allegedly demanding bribes from an oil business related company, to facilitate…

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Beat the COVID crisis and get hired – Advice for new graduates

The coronavirus pandemic has triggered an economic recession, with no sign of recovery in the near future. By the end of this year approximately 3-4 million people will be unemployed,…

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AMLO is verifying reports of four Thai banks’ alleged role in suspicious transactions

Thailand’s Anti-Money Laundering Office (AMLO) is in the process of verifying a report, by the International Consortium of Investigative Journalists (ICIJ), that four Thai banks have been involved in suspicious…

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LPG price for household use to be frozen until year end

Thailand’s Energy Policy Committee (EPC) has decided to freeze the retail price of liquefied petroleum gas (LPG) for household use for three months, in order to ease the financial burden…

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New grand plan to bring tourists back to Thailand in fallout of COVID-19

Thailand is preparing to welcome back foreign tourists – at least, those with deep pockets – from next month, with a strategy that seeks to restore its battered tourism sector…

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Thailand conditionally to open its doors to long-stay tourists

The Thai cabinet has approved, in principle, the guidelines of the Ministry of Tourism and Sports to be used to open Thailand to long-stay foreign tourists, in a bid to…

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Workers are transported on a truck to a construction site in Bangkok on July 23, 2020. (Photo by Mladen ANTONOV / AFP)

Senate committee asked to rethink changing mandatory retirement age

A subcommittee, of Thailand’s Senate Committee on Social Development and Affairs of Children, Youth, Women, Elderly People and Under-privileged people, has proposed a rethink and delay of a plan to…

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Central Bankruptcy Court endorses THAI’s rehabilitation filing and planners

Thailand’s Central Bankruptcy Court, this morning (Monday), approved Thai Airways International Public Company’s (THAI) debt rehabilitation filing and its rehabilitation planners. In approving the debt-stricken national flag carrier’s rehabilitation filing,…

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Budget Bureau announces delay in new budget disbursement

All government units have been told, by the Budget Bureau, that disbursement of funds from the 2021 fiscal year budget will be delayed until after October 1st, the first day…

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Thai Government to roll out another stimulus package to help retail sector

Thailand’s Centre for COVID-19 Situation Administration (CCSA) has approved a new 45 billion baht stimulus package, for distribution to 15 million Thai adults to spend with independent vendors, small retailers,…

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No more enforced social distancing on Thailand’s public rail networks

Thailand’s Department of Rail Transport has decided to ease social distancing measures, when travelling on all public rail transport systems, by allowing the occupancy of all seats, but passengers must…

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Thailand’s PM promises help for domestic low-cost airlines

Seven of Thailand’s domestic low-cost airlines have been promised a new lease of life, after Prime Minister Prayut Chan-o-cha agreed to help, starting with the injection of 24 billion baht…

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American Airlines to cut 19,000 jobs in October without aid, workforce shrinking 30%

CHICAGO (Reuters) – American Airlines said on Tuesday its workforce will shrink by 40,000, including 19,000 involuntary cuts, in October as the COVID-19 pandemic continues to weigh on air travel,…

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More Thai people saving in bank accounts during COVID-19 pandemic

The COVID-19 pandemic has prompted more Thai people to put their savings in banks, increasing the number of bank depositors covered by the Deposit Protection Agency (DPA), for the first…

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Thai cabinet keeps VAT rate at 7% for another year

The Thai cabinet today decided to retain the 7% value-added tax rate for all trade transactions, services and imports subject to VAT until the end of September next year. Finance…

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Thailand’s exports have bottomed out, gradually recovering

Compared to the same period last year, Thailand’s exports for the month of July dropped 11.37%, to US$18.8 billion, while imports fell 26.38%, to US$15.47 billion, according to Pimchanok Wornkhorporn,…

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Thailand’s Finance Ministry to roll out ฿114 billion in soft loans to assist SMEs

The Cabinet approved the Finance Ministry’s proposal today to roll out about 114 billion baht in soft loans and credit guarantees, to help small and medium-sized enterprises (SMEs), as well…

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A Thai-Airway Boeing 747 taxies on the tamac of the freed Suvarnabhumi international airport after making the first arrival flight at the protest-hit airport in Bangkok on December 3, 2008. Airlines gradually resumed international and domistic flights to and from the airport after protesters ended a blockade, with full operations expected on December 4, 2008. AFP PHOTO/HOANG DINH Nam (Photo by HOANG DINH NAM / AFP)

Creditors object to THAI’s rehabilitation plan administrator appointment

A lawyer for some of Thai Airways International’s creditors has voiced reservations over the national flag carrier’s appointment of a company to administer its rehabilitation plan. The objection was raised…

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Thailand’s GDP this year set to contract 7.8-7.3%, not 5-6% previously forecast

Thailand’s household debt has increased to the highest level in four years, whereas the Gross Domestic Product (GDP) for the second quarter contracted 12.2%, prompting the Finance Ministry to forecast…

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Thai PM identifies addressing economic crisis as Government’s top priority

Reminding Thai people of the current global economic crisis, one of the worst the world has faced and one which is likely to continue until the end of next year,…

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UK job losses hit decade-high, worse seen ahead

LONDON (Reuters) – The number of people in work in Britain has suffered the biggest drop since 2009 and signs are growing that the coronavirus will take a heavier toll…

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photo from Nation Thailand

Uphill mission awaits new finance minister

Predee Daochai is taking on what is probably the most unenviable task — steering Thailand out of its worst economic crisis in modern history.   By accepting Prime Minister Prayut…

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Twitter, TikTok discuss potential combination

Twitter is in preliminary discussions for a possible combination with TikTok, the Wall Street Journal reported Saturday, after US President Donald Trump said he would ban the app, calling it a…

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Samsung Electronics to halt production at its last computer factory in China

SEOUL (Reuters) – Samsung Electronics Co will halt operations of its last computer factory in China, the South Korean tech giant said on Saturday, the latest manufacturer to shift production…

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BOT cuts interest rates on credit cards and loans by 2-4% from today

The Bank of Thailand (BOT) has ordered commercial banks and financial institutions to cut the higher interest rates, charged to customers with credit card balances and personal loans, by 2-4%,…

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Nok Air determined to carry on after filing court rehabilitation plan

Nok Air chairman Prasert Boonsamphan has assured that the Thai airline is determined to carry on operating, after the Central Bankruptcy Court accepted the company’s business rehabilitation plan yesterday. He…

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Huawei’s founder has defiantly hit back after a bruising week for the Chinese smartphone giant

Huawei overtakes Samsung as top smartphone seller: report

LONDON (AP) — A technology research firm says Huawei has overtaken Samsung to become the world’s biggest smartphone seller, as its home market in China emerged from the coronavirus pandemic…

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Asia Today: Chinese city tightens rules, Victoria might, too

BEIJING (AP) — China is tightening travel restrictions in the Xinjiang capital amid a COVID-19 outbreak in the northwestern city. People arriving in Urumqi from regions considered to have high…

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(Photo) Facebook has curbed access to its “graph search,” a tool that was criticized by privacy activists but also became important for research by human rights activists and investigative journalists/AFP

Australia to make Google and Facebook pay for news content

CANBERRA, Australia (AP) — The Australian government said on Friday it plans to give Google and Facebook three months to negotiate with Australian media businesses fair pay for news content….

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Thaksin gets 5 years for illegal shareholding and excise cut for mobile operators

Former Thai Prime Minister Thaksin Shinawatra has been sentenced to five years in prison after being found guilty, by the Supreme Court’s Criminal Division for Holders of Political Posts, for…

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Pha-Ngan Island / Photo from tourismthailand.org

TAT plans to boost domestic tourism among three target groups

The Tourism Authority of Thailand (TAT) will seek Cabinet approval for its plan to boost domestic tourism by targeting affluent Thais, who can afford overseas trips, adding that between 12…

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Photo from osotspa.com

Dr.Sethaput Suthiwart-Narueput endorsed as new Bank of Thailand governor

The Cabinet today approved the nomination of Sethaput Suthiwart-Narueput as the new Governor of the Bank of Thailand, succeeding Dr.Veerathai Santipraphob, whose five-year term will expire on September 30th. Sethaput,…

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30,000 rural jobs on offer to boost local economies

Thailand’s Interior Ministry has about 30,000 job offers for rural inhabitants, to boost household consumption and to take care of elderly people who cannot help themselves. The employment opportunities are…

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Charter Court judge seeks probe into handling of the Red Bull heir case

A Constitutional Court judge has urged Thailand’s Prime Minister Prayut Chan-o-cha to investigate alleged mishandling, by the police and the public prosecutors, of the Red Bull heir hit and run…

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In this handout photo released by the University of Oxford blood samples from coronavirus vaccine trials are handled inside the Jenner Institute in Oxford, England Thursday June 25, 2020. Scientists at Oxford University say their experimental coronavirus vaccine has been shown in an early trial to prompt a protective immune response in hundreds of people who got the shot. In research published Monday July 20, 2020 in the journal Lancet, scientists said that they found their experimental COVID-19 vaccine produced a dual immune response in people aged 18 to 55. (John Cairns, University of Oxford via AP)

COVID-19 vaccines expected next year at about 620 baht per dose

The first anti-COVID-19 vaccines are expected to be available for use in humans next year, at an estimated cost of 620 baht per dose, said Dr. Siriroek Songsivilai, secretary-general of…

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(Photo) Facebook has curbed access to its “graph search,” a tool that was criticized by privacy activists but also became important for research by human rights activists and investigative journalists/AFP

Court: Judge wrong to dismiss complaint against Facebook

CONCORD, N.H. (AP) — The New Hampshire Supreme Court ruled Friday that a judge was wrong to dismiss a cafe owner’s complaint against Facebook that said his social media account…

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FILE – In this Aug 25, 2019, file photo, a Southern Vietnamese box turtle (Cuora picturata) walks in its pen at a sanctuary in Cuc Phuong national park in Ninh Binh province, Vietnam. Vietnamese Prime Minister Nguyen Xuan Phuc on Thursday signed a directive to ban wildlife imports and closes illegal wildlife markets as a response to the thread of zoonotic diseases such as COVID-19. (AP Photo/Hau Dinh, File)

Vietnam bans wildlife imports, markets amid new health fears

HANOI, Vietnam (AP) — Vietnam announced Friday that it was banning wildlife imports and would close wildlife markets in response to renewed concerns about the threat from diseases that can…

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Thailand could fall to world’s third largest rice exporter this year

Thailand could drop to the world’s third largest rice exporter, after Vietnam and India, due to a prolonged drought, which has affected rice output, and the strength of the baht…

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COVID-19 testing at Suvarnabhumi airport upgraded to increase efficiency

Thailand’s Disease Control Department (DCD) has upgraded its COVID-19 testing facility at Suvarnabhumi international airport, which is now capable of producing test results within 70 minutes. The DCD’s Director-General, Dr….

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Central bank governor says Thai economy does not need bailout from IMF

The Thai economy is strong enough and the country does not need to seek a financial bailout from the International Monetary Fund (IMF), although its GDP this year may be…

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In this April 13, 2020, file photo, a worker assembles gearboxes at the Kofon factory in Huanggang in central China’s Hubei province. China’s economy rebounded from a painful contraction to grow by 3.2% over a year earlier in the latest quarter as anti-virus lockdowns were lifted and factories and stores reopened.

China becomes first economy to grow since virus pandemic

BEIJING (AP) — China became the first major economy to grow since the start of the coronavirus pandemic, recording an unexpectedly strong 3.2% expansion in the latest quarter after anti-virus…

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Registration for “We Tour Together” promotion kicks off today

While Thailand remains closed to foreign tourists, as part of the anti-coronavirus restrictions, starting today (Wednesday), Thai citizens can apply online for significant discounts on air tickets, hotel accommodation and…

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Chinese President Xi Jinping applauds during a conference to commemorate the 40th anniversary of China’s Reform and Opening Up policy at the Great Hall of the People in Beijing, Tuesday.

President Xi stresses economic cooperation with Thailand

Chinese President Xi Jinping on Tuesday stressed deepening economic and trade cooperation with Thailand and Singapore while continuing to jointly fight the pandemic with the two countries. CGTN of China…

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Rayong hotel closed for disinfection as PM apologizes for mishandling VIP arrivals

The hotel in Thailand’s eastern province of Rayong, where the Egyptian military mission stayed last week, has closed for at least 14 days from today (Tuesday) for a full cleansing…

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FILE PHOTO – Jack Ma, founder and executive chairman of China’s Alibaba Group, speaks in front of a picture of SoftBank’s human-like robot named ‘pepper’ during a news conference in Chiba, Japan, June 18, 2015. REUTERS/Yuya Shino/File Picture

Alibaba’s Jack Ma sells $9.6 billion worth shares, stake dips to 4.8%

SHANGHAI (Reuters) – Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8% from 6.4%, cashing out around $9.6 billion…

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Huge police presence in Songkhla’s Jana district ahead of public hearing

As many as 1,000 police officers, from seven of Thailand’s southern provinces, are to be deployed in Jana district of Songkhla province this Saturday, to maintain peace and order during…

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Thai officials to meet coconut product manufacturers over UK ban

Thailand’s Foreign Trade Department officials will meet with representatives of coconut product manufacturers, at the Ministry of Commerce on Wednesday, to discuss the impacts of a ban on their products…

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Finance rolls out tax measures to help businesses to keep their employees

Thailand’s Finance Ministry has introduced tax measures to help cushion the serious economic impacts of COVID-19 on businesses and employment. The Finance Ministry’s spokesman, Mr. Thanakorn Wangboonkongchana, said today that,…

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Foreign diplomats invited to see coconuts being picked by monkeys

The Thai Commerce Ministry will invite members of the foreign diplomatic corps to observe the harvesting of coconuts by pigtailed macaque monkeys, in an effort to prove that the process…

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Finance Ministry plans more tourism stimuli to boost rural economies

Thailand’s Finance Ministry is considering extending the Thiew Pan Sook (Happiness Sharing Tour) program to cover community and agriculture based tourism, while providing tourism operators and airlines with access to…

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2.7 million in Thailand’s tourism sector redundant by September – TTIC

Confidence among Thailand’s tourism business operators fell to the lowest level in a decade during the second quarter of 2020, with about 2.6 million workers already out of work and…

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Thailand to resume international air services on July 1st 

International air services in and out of Thailand will resume on Wednesday July 1st, after the Civil Aviation Authority of Thailand decided to allow six groups of foreigners and citizens…

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FILE PHOTO: A vendor, wearing protective mask following an outbreak of the coronavirus disease (COVID-19), works at the almost empty Kansai International Airport in Osaka, Japan, March 14, 2020. REUTERS/Edgard Garrido

Japan’s retail sales extend slump as coronavirus curbs keep shoppers away

TOKYO (Reuters) – Retail sales in Japan tumbled at a double-digit pace for the second straight month in May as the coronavirus pandemic and lockdown measures delivered a heavy blow…

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NESDB approves first 213 projects aimed at rebooting the economy

Thailand’s National Economic and Social Development Board (NESDB) has agreed the first 213 projects, out of about 46,000 proposed by government agencies and local administration organizations, to rehabilitate the economy…

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Australia’s Qantas airline to cut 6,000 jobs as virus hits

WELLINGTON, New Zealand (AP) — Qantas plans to cut at least 6,000 jobs and keep 15,000 more workers on extended furloughs as Australia’s largest airline tries to survive the coronavirus…

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NokScoot budget airline to downsize fleet and staff at end of June

Thailand’s low-cost airline, NokScoot, plans to take three aircraft out of service and reduce its staffing level at the end of this month, in a major reorganization caused by the…

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Thailand eyes opening borders to those from Australia, NZ, Japan, Taiwan and some Chinese cities

Thailand’s National Communicable Diseases Committee has approved a proposed relaxation of travel restrictions, to allow certain foreigners, from countries deemed as low risk, such as New Zealand, Australia, Japan, Taiwan…

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Proposed entertainment venue anti-COVID-19 measures if they reopen

A detailed list of measures, which will potentially be applied to pubs, bars and karaoke bars, if they are allowed to resume business on July 1st, has been drawn up…

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Photo by Vivek PRAKASH / AFP

No more social distancing on domestic flights in Thailand

The Civil Aviation Authority of Thailand (CAAT) has further eased domestic air travel service restrictions, by doing away with the on-board social distancing requirement. CCAT Director Mr. Chula Sookmanop said…

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People walk in a street food market in Bangkok on June 9, 2020. (Photo by Mladen ANTONOV / AFP)

Cabinet rolls out support for those who missed out on previous subsidy schemes

Thailand’s Cabinet has rolled out four new schemes to help people affected by business closures caused by COVID-19 and who missed out on previous aid packages. The new measures will…

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Cabinet endorses three packages to revive ailing tourism industry

Thailand’s Cabinet today approved three packages intended to reboot Thailand’s declining tourism industry, hit hard by the COVID-19 pandemic. Tourist arrivals and revenues for the first quarter of this year…

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Photo from Nitinai Sirismatthakarn

CAAT to discuss possibility of resuming international flights

The Civil Aviation Authority of Thailand (CAAT) will hold a meeting with international airlines on Tuesday to discuss preparations for the partial resumption of international services. Currently, both out-bound and…

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(FILES) This file photo taken on June 3, 2020 shows an employee of German airline Lufthansa sitting at the ticket desk in an empty terminal of the company at the “Franz-Josef-Strauss” airport in Munich, southern Germany. – German airline Lufthansa is to cut 22,000 jobs due to the effects of the coronavirus pandemic, a spokesman said on June 11, 2020. (Photo by Christof STACHE / AFP)

Pandemic-hit Lufthansa says 22,000 jobs to go

German airline Lufthansa said Thursday that it would have to slash 22,000 full-time jobs as the recovery in demand for travel following the coronavirus pandemic will be muted. “The recovery…

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Finance Ministry considers incentives for Thais who spend on local tourism 

Thailand’s Finance Ministry is to roll out an incentive scheme to encourage Thai people to travel and spend domestically, in order to revive the local tourism industry, hard hit by…

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People stand in line to enter the Siam Paragon shopping mall as it reopened after restrictions to halt the spread of the COVID-19 coronavirus were lifted in Bangkok on May 17, 2020.

Paragon closes Cineplex for three days over breach of social distancing rules

The management of Bangkok’s luxury shopping mall, Siam Paragon, has ordered the closure of Paragon Cineplex for three days, after Major Group, the operator of the cinemas, held a social…

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Virus crisis piles pressure on African media

Collapsing revenues, rising layoffs: the coronavirus crisis is battering media outlets across Africa that were already struggling for cash and often facing pressure from hostile authorities. The news of cutbacks…

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TikTok lookalike Zynn brings Chinese video app rivalry to US

Chinese short video app makers have taken their rivalry overseas, with TikTok facing stiff competition from a newcomer that has surged in popularity abroad — by paying users to keep…

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A Thai-Airway Boeing 747 taxies on the tamac of the freed Suvarnabhumi international airport after making the first arrival flight at the protest-hit airport in Bangkok on December 3, 2008. Airlines gradually resumed international and domistic flights to and from the airport after protesters ended a blockade, with full operations expected on December 4, 2008. AFP PHOTO/HOANG DINH Nam (Photo by HOANG DINH NAM / AFP)

Proposed rehabilitation of THAI will expose a Pandora’s Box of corruption

Former international crime prosecutor, Mr. Wanchai Roujanavong, has likened the proposed rehabilitation of Thai Airways International to the opening of a Pandora’s Box, which will expose extensive corruption in the…

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Kasikorn Research Centre adjusts 2020 growth forecast down to -6%

Thailand’s GDP for the whole of 2020 is forecast to contract by as much as 6%, instead of 5% as previously projected, according to the Kasikorn Research Centre (KRC). Ms….

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July Songkran celebrations a possibility

Thai people may, belatedly, be able to celebrate the traditional Thai New Year, or Songkran, in July if the third phase of the easing of lockdown restrictions this month goes…

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People stand in line to enter the Siam Paragon shopping mall as it reopened after restrictions to halt the spread of the COVID-19 coronavirus were lifted in Bangkok on May 17, 2020.

Seventeen businesses and activities can resume in Bangkok on Monday

The Communicable Disease Committee of Bangkok and the Bangkok Metropolitan Administration (BMA) have identified 17 business and leisure activities which can resume tomorrow, in the third phase lockdown easing. They…

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Passengers wait for their train at a commuter train station at rush hour in Bangkok on May 25, 2020, as Thais continued their return to work following the lifting of restrictions to halt the spread of the COVID-19 coronavirus.

Government’s 400 billion baht in soft loans may save 6 million Thai jobs – NESDB

Only about a quarter of the 8.4 million Thai workers at risk of losing their jobs, due to COVID-19 related closures, are now expected to be made redundant, thanks to…

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Photo from the Ministry of Transport

Legal technicality forces Pailin to quit THAI board

Former PTT Plc President and CEO Pailin Chuchottaworn has resigned from the board of Thai Airways International, just one day after his appointment took effect, due to a legal technicality….

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Labour federation opposes proposed rehabilitation scheme for THAI

Thailand’s Federation of State Enterprise Labour Relations, the umbrella organization of state enterprise unions, has voiced its strong objection to a court-sanctioned rehabilitation scheme for Thai Airways International, saying that…

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Bankruptcy court accepts THAI’s protection petition for consideration

Thailand’s Central Bankruptcy Court today has accepted Thai Airways International’s bankruptcy protection petition for consideration and set the first hearing for August 17th.   The court’s decision to accept the…

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File photo

The four men tasked with piloting THAI through bankruptcy restructuring

Hope for Thailand’s ailing national airline now rests on the shoulders of four new board members, who have been tasked with the tough job of cleaning up and preparing the…

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Thai state to provide 3,000 baht cash subsidy to 13 million in a “fragile group”

Citing health security, the Thai Cabinet today approved the CCSA’s proposal for an extension to the nation-wide state of emergency for another month, to the end of June. Government spokesperson…

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Thai government extends state of emergency until end of June

Citing health security, the Thai Cabinet today approved the CCSA’s proposal for an extension to the nation-wide state of emergency for another month, to the end of June. Government spokesperson…

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File photo

THAI files rehabilitation petition with Central Bankruptcy Court

Beleaguered Thai Airways International today (Tuesday) filed a bankruptcy protection petition with the Central Bankruptcy Court in Bangkok. The move followed the Finance Ministry’s sale of 3% of its shares…

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Transport Ministry backs down over administering THAI rehabilitation plan

The Ministry of Transport has backed down over its demand to have a role in the administration of the court-sanctioned rehabilitation plan for Thai Airways International, now that the ailing…

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Photo from marinegyaan.com

China says virus pushing US ties to brink of ‘Cold War’

China said Sunday that relations with the United States were “on the brink of a new Cold War”, fuelled in part by tensions over the coronavirus pandemic, as Muslims around…

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Passengers attempt to observe social distancing as a preventive measure against the spread of the COVID-19 novel coronavirus as they ride in a BTS commuter train during rush hour in Bangkok on May 8, 2020. (Photo by Mladen ANTONOV / AFP)

Thailand tourism to contract by 1.69 trillion baht this year – Kasikorn Research

The Thai tourism sector is forecast to suffer a revenue reduction, estimated at 1.69 trillion baht this year, due to the COVID-10 pandemic and the weak purchasing power of tourists,…

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Hua Hin’s horses for hire to return to beaches next Friday

Life is gradually returning to Thailand’s Hua Hin seaside resort, after Prachuap Khiri Khan provincial administration eased lockdown restrictions on May 18th, allowing hotels, food shops, shopping malls, department stores,…

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Draft contract for Eastern Airport City and U-Tapao airport projects endorsed

Thailand’s Eastern Economic Corridor (EEC) Policy Committee today approved the draft joint venture contract for the development of the 290-billion baht Eastern Airport City and U-Tapao airport project. The project…

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Thai central bank cuts policy rate by 25 basis points to 0.50%

The Monetary Policy Committee (MPC) of the Bank of Thailand has cut the benchmark interest rate by 25 basis points, to a new record low of 0.50%, with immediate effect….

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15 candidate administrators of THAI rehabilitation plan nominated by Transport Ministry

The Transport Ministry has nominated 15 candidates for administrator, of the rehabilitation plan for ailing Thai Airways International, to Prime Minister Prayut Chan-o-cha for consideration. Transport Minister Saksayam Chidchob said…

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File photo

Cabinet endorses court-sanctioned rehabilitation scheme for ailing THAI

Thailand’s cabinet has decided to let financially-strapped Thai Airways International enter a court-sanctioned rehabilitation scheme, under the Thai bankruptcy laws. Speaking at a news conference today (Tuesday), Prime Minister Prayut…

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THAI union opposes reduction of Finance Ministry’s stake in the ailing airline

The labour union of Thai Airways International has voiced objection to any plan to reduce the Finance Ministry’s stake in the national flag carrier. The Ministry is the major shareholder…

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FILE PHOTO: A man wearing a protective mask walks at a business district amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 12, 2020. REUTERS/Kim Kyung-Hoon/File Photo

Japan slips into recession, worst yet to come as pandemic wreaks havoc

TOKYO (Reuters) – Japan’s economy slipped into recession for the first time in 4-1/2 years, GDP data showed on Monday, putting the nation on course for its deepest postwar slump…

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(Photo) Thaiairways.com

Prerequisites for THAI to address ahead of rehabilitation process

Although it is likely that struggling Thai Airways International will have to apply for a court-sanctioned rehabilitation programme, under the country’s bankruptcy law, there are a number of prerequisites to…

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Court-ordered rehabilitation likely option for debt-laden THAI

After years of heavy losses, Thailand’s struggling national airline is making headlines with its last-ditch attempt to survive a spiralling financial crisis fuelled by the global coronavirus pandemic. Thai Airways…

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14.5 million Thais eligible for the monthly 5,000-baht state subsidy

14.5 million Thai citizens have passed the eligibility screening for the three month 5,000 baht state subsidy. Mr. Lawan Saengsanit, director of the Fiscal Policy Office and spokesman of the…

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Prime Minister Prayut Chan-ocha / ©asiatimes.com

PM insists THAI adheres to a viable rehabilitation plan

Prime Minister Prayut Chan-o-cha said today that the only way for Thai Airways International (THAI) to survive its financial crisis is to enter and stick to an effective rehabilitation program,…

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PM calls scrambling for donations at food banks “unacceptable”

Prime Minister Prayut Chan-o-cha said today that people scrambling for donated items at food banks must stop, describing it as totally unacceptable. The Prime Minister, however, thanked donors for establishing…

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People eat lunch at a street food restaurant implementing social distancing measures with plastic dividers on the tables after the Thai government relaxed measures to combat the spread of the COVID-19 novel coronavirus, in Bangkok on May 7, 2020. – Thailand began easing restrictions related to the COVID-19 novel coronavirus on May 3 by allowing various businesses to reopen, but warned that the stricter measures would be re-imposed should cases increase again. (Photo by Mladen ANTONOV / AFP)

Thailand sees proliferation of food banks during COVID-19 pandemic

Food banks have become a new fad, in the wake of the COVID-19 pandemic, where anonymous philanthropic people, who want to help their fellow countrymen affected by business closures, can…

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Photo: www.facebook.com/aswinkwanmuang

BMA to extend operating hours of Chatuchak market to 7pm

The Bangkok Metropolitan Administration (BMA) will extend the operating hours of Chatuchak weekend market, from 6pm to 7pm, to accommodate shoppers who prefer to visit the market in the evening,…

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