The red-shirt rallies in Bangkok are estimated to have cost Bangkok Mass Transit Authority (BMTA) around Bt75 million from March 12 to the end of April, a source at the state agency said yesterday.
Although private investment has joined the rebound in Thai economy, the outlook remains weak relative to other demand
Key risks to the outlook are (i) political uncertainty and (ii) the timing of the withdrawal of fiscal and monetary stimulus. Increased political tensions may have a long-lasting impact on investment, and withdrawal of stimulus (in Thailand and the advanced economies) must be precisely timed to avoid macroeconomic imbalances (including new asset bubbles) while also ensuring that the recovery is on a sufficiently solid footing.
The approved Financial Institution Business Act (FIBA) facilitates increase in foreign ownership in Thai foreign institutions. The Financial Institution Business Act (FIBA) became effective on 3 August 2008 as planned. The FIBA allows financial institutions to raise the foreign limit from 25 percent to 49 percent with permission from the BOT and foreign investors may own more than 49 percent equity stake in Thai banks with permission from the Ministry of Finance and recommendation by the BOT. The increase in foreign limit would encourage Thai banks to seek foreign strategic partners to strengthen the capital base, improve core banking business, IT platform, know-how and add inorganic growth to Thai banks.
Can the Subscription Economy Save Financial Services?
Going back to the pre-Covid “normal” is not an option for financial services. Fortunately, the rise of the subscription economy points towards frontiers of untapped growth for the sector.
As the world waits for mass vaccination to revive economic activity, general malaise has overtaken the financial services industry (FSI). And things will probably worsen before they get better: US banks are expected to suffer US$318 billion in net loan losses by the end of 2022, according to Deloitte.(more…)
Thai firms tops the world’s sustainability ranking by S&P Global
The Stock Exchange of Thailand revealed that 11 Thai firms have been awarded in Gold Class, the world’s highest ranking by number in sustainability aspect in “The Sustainability Yearbook 2021” conducted by S&P Global.(more…)
Thailand’s Latest Tax Relief Package for Businesses
Thailand’s government has issued its latest tax relief package to assist businesses impacted by the pandemic that includes the reduction of land and building tax by 90 percent for 2021, in addition to extending the filing deadline for personal, value-added, and withholding tax.
Thailand to further ease COVID-19 restrictions
The Cabinet approved to ease the level of control over the country under the COVID-19 situation including relaxing businesses and...
BoI plans more efforts to promote BCG economy
BANGKOK (NNT) – The Board of Investment (BoI) is working with related agencies to rev up promotion of the bio-,...
ASEAN, Canada, UN Women launch 5-year programme to advance Women, Peace and Security Agenda
Jakarta/Ottawa/New York, 24 February 2021 – The Association of Southeast Asian Nations (ASEAN), Canada and UN Women jointly launched today...
Covid-19 Thailand Situation Report
COVID-19 situation in Thailand On 15th February, 143 new cases of laboratory-confirmed COVID-19 were announced by the Ministry of Public...
Market for Alternative Investment (MAI) welcomes reinsurance broker “TQR”
SET News 11/2021 February 16, 2021 mai welcomes reinsurance broker “TQR” on Feb 17 BANGKOK, February 16, 2021 – The...
THAI airways to sell training center building to raise more funding
THAI airways has been hit hard by limited travel due to the COVID-19 pandemic, which comes as they were entered...
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