Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
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. This is the fifth cut since August 2019. MPC secretary Titanun Mallikamas said the committee voted 4-3 to cut the policy rate after having concluded
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 today that, once the list is approved by the Prime Minister, tentatively this week, it will be submitted to the Central Bankruptcy Court for consideration.
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 Chan-o-cha admitted that it was a difficult decision for him to choose between injecting new funding into the ailing airline, letting the airline file for
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 in THAI, holding about 51% of the shares, enabling the ailing airline to enjoy dual status, as a listed public company and a state enterprise.
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 as the coronavirus crisis takes a heavy toll on businesses and consumers. The world’s third-largest economy shrank for the second consecutive quarter in the three
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 address, including: Total revamp of aircraft maintenance data systems, to include the sale of decommissioned aircraft and engines. Review of fleet management, including the sale
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 International (THAI), which began operating 60 years ago this month in 1960, is desperately seeking a Bt54-billion short-term loan to finance operating costs while it
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 Finance Ministry, said today (Thursday) that the 14.5 million includes 4.4 million who passed the first-round screening and have received the initial cash, plus 5.3
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 the food banks to help their fellow countrymen and asked the beneficiaries of the charitable donations not to grab everything for themselves, but to think
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, which will require the full cooperation of its management and staff. The rehabilitation plan, drawn up by the State Enterprise Policy Committee, is now with
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 donate food. In many, signs are displayed advising people to pick up just enough food for a day’s consumption, so that others can share in
All Thailand’s provincial governors have been instructed, by the country’s Interior Ministry, to screen everyone arriving from the southern resort province of Phuket and to quarantine anyone suspected of being infected with COVID-19. The instruction was issued by Mr. Chalerm Promlet, the ministry’s permanent secretary, after some people, who had recently left Phuket, tested positive
