Connect with us

Business

Thailand’s protests take toll on economy

The Stock Exchange of Bangkok has fallen 9.5 per cent since Nov. 24, the day of the first major anti-government rally in Bangkok. The baht ended the Thai trading day at 33.13 to the U.S. dollar, after a prolonged sell-off that has seen it give up nearly three years of gains.

Bahar Karaman

Published

on

The Stock Exchange of Bangkok has fallen 9.5 per cent since Nov. 24, the day of the first major anti-government rally in Bangkok. The baht ended the Thai trading day at 33.13 to the U.S. dollar, after a prolonged sell-off that has seen it give up nearly three years of gains.

Loading...

On Monday, the Stock Exchange of Thailand gained six points to close at 1,230 points amid late-day buying into cheaper shares, although market participants offered a decidedly grim outlook.

The SET is at risk of falling below 1,100 points, and the baht may reach 34 to the dollar, warned Voravan Tarapoom, the chief executive officer of BBL Asset Management Co. Ltd., which has nearly $12-billion in assets under management.Political turmoil “will be a big cloud in the investment market for a while,” she said in an interview. “The longer we live with uncertainty, the worse it will be for the country.”

Local reports suggest foreign investors have withdrawn billions of dollars from the country – with nearly $100-million in bond sales Monday alone – after years of multi-billion-dollar capital inflows. With no clear path to resolution of a political dispute whose roots date back some 12 years, observers worry that the country could go without an effective government for some time, triggering broader pain in the real economy

via Thailand’s political crisis a ‘big cloud’ for investment, economy – The Globe and Mail.

Business

Thailand Approves Latest Economic Relief Package for Businesses

Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.

Avatar

Published

on

On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.

Loading...
(more…)

Continue Reading

Business

Thailand BOI approves Biotech Projects Worth 2.4 Bln Baht ($78 million)

The biotechnology sector is part of the so-called BCG model (Bio, Circular and Green economy) which the Thai government has set as a priority to lead the post-Covid 19 recovery.

Avatar

Published

on

By

The Thailand Board of Investment (BOI) said today it has recently approved new projects in the field of advanced biotechnology, worth a combined 2.4 billion baht (around USD78 million) in investment, reflecting the increased interest of local and foreign investors in the country’s biotech sector.

Loading...
(more…)

Continue Reading

Business

Asia-Pacific sees 3.9% growth in deal activity in February 2021

Boris Sullivan

Published

on

Chair’s Statement on the Informal ASEAN Ministerial Meeting (IAMM)

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,078 other subscribers

Latest

Trending