Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
Can Washington come to the rescue of the depositors of failed Silicon Valley Bank? Is it even politically possible? That was one of the growing questions in Washington Sunday as policymakers tried to figure out whether the U.S. government — and its taxpayers — should bail out a failed bank that largely served Silicon Valley,
It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world. From winemakers in California to startups across the Atlantic Ocean, companies are scrambling to figure out how to manage their finances after their bank suddenly shut down Friday. The meltdown means distress not only for businesses but also for all their
Startup-focused lender SVB Financial Group became the largest bank failure since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets and left billions of dollars belonging to companies and investors stranded. California banking regulators closed the bank, which did business as Silicon Valley Bank, on Friday and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for later
All the 560,000 entitlements for hotel bookings, under the “Rao Tiew Duay Kan” (We travel together) Phase 5 program, have been used up as of 11am today (Friday). Booking began on Tuesday. Under the program, each subscriber is entitled to a 40% room rate discount for rooms not exceeding 3,000 baht/night for five nights, or
The Thai cabinet has approved 3.19 billion baht to subsidise electricity bills of households that consume no more than 300 units of electricity per month from January to April. The budget is divided into 2.67 billion baht for the Provincial Electricity Authority (PEA) and the remainder for the Metropolitan Electricity Administration (MEA), to ease the
Household debt has become an alarming issue for the country, and as Thailand heads towards a general election this year, it’s a ticking bomb that needs the urgent attention of political parties making policy pledges to voters. Household debt had risen to 14.9 trillion baht in the third quarter of last year, equivalent to 87
Thailand’s Government Savings Bank (GSB) has stopped sending text messages (SMS) containing URLs to all customers, effective on March 1st, to protect its customers from being cheated by scam artists. The bank said any customer who receives such a text message from the bank should assume that it is fake, sent by a scammer and
Household debt for the third quarter of 2022 increased by 3.9%, to over 14.9 trillion baht for the first time in five quarters, largely due to the rise in personal loans and credit card borrowing, according to the National Economic and Social Development Council. Personal and credit card borrowing for the third quarter of 2022
Telenor Asia announced yesterday (Wednesday) the completion of the merger between Total Access Communication Company (DTAC) and True Corporation (TRUE), billed as the largest telecom merger in Southeast Asia by combined enterprise value. Jørgen A. Rostrup, executive vice president of Telenor Group and head of Telenor Asia, said that the completion of the deal is
People who want to join the 5th phase of the “Rao Tiew Duay Kan” (We Travel Together) program can registration from tomorrow, from 6am until 9pm, Deputy Government Spokesperson Traisuree Traisoranakul said today (Sunday). She also said that those who have already registered for the first four phases of the program do not need to
With the Covid-19 pandemic and digital technology continuing to redefine the world, Thailand Convention and Exhibition Bureau (TCEB) – the public agency responsible for the business events sector in Thailand – has set an ambitious five-year strategic action plan (2023-2027) that aims to attract over 160 million MICE travellers and earn Thailand more than 945
Cash subsidies given last year by the government, under various populist policies to increase the purchasing power of consumers and to boost the economy recovering from COVID-19, are exempt from personal income tax, according to a cabinet decision yesterday (Tuesday). Special allowances provided to medical personnel and other officials involved in the monitoring, investigation and
