Economy

Thai Airways International (THAI) has petitioned courts in three countries to in efforts protects its aircraft from being seized by its creditors. The creditors have sought to seize Thai Airways assets including its aircraft operating scheduled flights. A Thai government spokeswoman Narumon Pinyosinwat on Tuesday that cabinet was informed about the filing of debt-rehabilitation requests in foreign countries by Deputy …

Growth in the Asean bloc is expected to bounce back to an average of 8% in 2021 through the Chinese import demand and global trade, a Oxford Economics and commissioned by the Institute of Chartered Accountants in England and Wales (ICAEW) report suggested on Monday. Asean has into recession in the first part of 2020 before recording a 1.9 per …

Global demand for essentials items such as medicine and food has kept the Southeast Asian trade afloats as the region fight the novel coronavirus pandemic and its effects on slowing down the economies around the world. Singapore’s exports, driven by pharmaceuticals, surged to 170%. Japan’s also grew record numbers. Food exports rose 66% overall, increasing almost 10-fold. Exports to the …

MANILA – The Manila Electric Co. (Meralco) on Monday announced that customers can expect a lower electricity in June, amid months of power rates increase. In an advisory, customers consuming 200 kWh per month will have a reduced rate of ₱4 in their billing, while ₱6 for 300kwh, ₱8 for 400 kWh and ₱12 for those consumers with 500 kWh. …

Trade barriers including tariff and non-tariff restrictions will be limited to support the economies of ASEAN members amid the coronavirus pandemic, Vietnamese Minister of Industry and Trade Tran Tuan Anh said in a statement. Vietnam, who is also the chair for this year’s Asean summit, hosted an online meeting with economic ministers in Southeast Asia and China, Japan and South …

Stocks rallied Friday on the Stock Exchange of Thailand (SET) as ample global financial liquidity moved into equities to chase higher yields. Amid hopes of an economic recovery and further loosening of lockdown measures. The SET index rose by 36.83 points or 2.7% to close at 1,411.01 points in turnover worth 122.7 billion baht. Shares in the banking sector and …

Special Staff of the Minister of State-Owned Enterprises (SOEs), Arya Sinulingga, noted that the total government debt to the state-owned company has reached Rp 108.48 trillion. The debt comes from seven companies. He detailed the total government debt that must be paid to PT PLN (Persero) reached Rp 48.46 trillion. PT Pertamina Persero IDR 40 trillion, BUMN Karya IDR 12.16 …

The Ministry of Finance plans to issue state debt securities (SUN) specifically for overseas diaspora or diaspora bonds by the end of 2020. It is expected that the issuance can be carried out around November 2020 if the relevant ministry ministries are ready. This Diaspora bond has become one of the government’s moves to meet the funding needs of Covid-19 …

No one expected that the year 2020 would start off with a global pandemic and how COVID-19 pandemic would effect Thailand’s economy. It all started with the first patients with the deadly coronavirus infection from China’s Hubei province. The wildlife market in the province’s capital city of Wuhan has been named as the source of the infection. The highly contagious …

Thailand’s central Bank has said it’s concerned about a recent rapid appreciation of the Thai Baht and it’s ready to take steps to curb its climb. The rise of the Baht could imperil an already fragile economy, the central Bank said. The Thai baht has risen 2% against the dollar in the past month is among the steepest in Asia. …