Banking
Bank of Thailand signs agreements with Malaysia and Philippines central banks
Bank Negara Malaysia (the Bank) has today signed two Heads of Agreement with Bank of Thailand and with Bangko Sentral ng Pilipinas under the ASEAN Banking Integration Framework.
Bank Negara Malaysia (the Bank) has today signed two Heads of Agreement with Bank of Thailand and with Bangko Sentral ng Pilipinas under the ASEAN Banking Integration Framework.
This signifies a major step forward in the advancement of an integrated banking market within ASEAN and towards strengthening intra-regional trade and investment.
The Heads of Agreement with Thailand and the Philippines outline areas on market access and operational flexibilities that may be accorded to Qualified ASEAN Banks in the respective jurisdictions.
Both agreements were signed by Governor Dr. Zeti Akhtar Aziz, Bank Negara Malaysia, with Governor Veerathai Santiprabhob, Bank of Thailand for the Heads of Agreement with Bank of Thailand, and with Governor Amando M. Tetangco, Jr., Bangko Sentral ng Pilipinas for the Heads of Agreement with Bangko Sentral ng Pilipinas. Bank Negara Malaysia14 March 2016
Source: BNM Press Statements
Economics
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.
(more…)News
Climate change raises asset risks for banks in Asia-Pacific
Climate change and related government policies raise asset risks for banks in Asia-Pacific, while legal and reputational risks are growing while large, diversified banks in the region are better able to cope with these risks and preserve their credit strength
Climate change and related government policies expose Asia-Pacific banks to physical climate risks, as well as risks that stem from sudden changes in asset values as economic priorities shift, according to Moody’s Investors Service in a new report.
(more…)
Thai Government Orders 20 Million Doses of Pfizer COVID-19 Vaccine
The ministry will have a month to negotiate with Pfizer, while the company must send documents to register the vaccine...
Vaccine shortage could derail Thailand’s economic recovery
As much of the Asia-Pacific region is gearing up for a 2022 reopening and recovery, Thailand is now lagging behind...
Thailand’s Consumer Confidence Hits new Record Low in May
The University of the Thai Chamber of Commerce (UTCC) has reported that Thailand's Consumer Confidence Index (CCI) for May fell...
The future of rail travel in Thailand
Hua Lamphong is, for many people, a beloved representation of rail travel in Thailand. However, there is a significant upgrade...
Thailand Calls for Lifting of Intellectual Property Protection on COVID-19 Vaccines
Thailand will push for COVID-19 vaccines to be removed from intellectual property protection lists, as per the Trade-Related Aspects of...