Economics
Prospects Daily: Euro Area slips into recession in third quarter
Global equities fell for a seventh day, with the benchmark MSCI world stock index sliding 2%, hurt by mounting concerns over the U.S. fiscal crisis and reports that the Euro-area economy entered its second recession since 2009. World stocks have lost more than 3% this month.

Financial Markets…Global equities fell for a seventh day, with the benchmark MSCI world stock index sliding 2%, hurt by mounting concerns over the U.S. fiscal crisis and reports that the Euro-area economy entered its second recession since 2009. World stocks have lost more than 3% this month.
The Japanese yen weakened 1.4% to 81.39 per dollar, after reaching a nearly 6-month low of 81.46, amid prospects of further aggressive monetary easing following a contraction in third quarter GDP. The yen also fell 1.7% to 103.92 per euro, the lowest in almost two weeks.
Oil prices rose on Thursday, with crude for December delivery rising as much as 51 cents to $86.83 a barrel in New York trading, as Israel’s attack on the Gaza Strip intensified concern that escalating Middle East unrest would disrupt oil supplies. Brent for December settlement also jumped to $111 a barrel in London trading.
Namibia issued a 850 million rand ($95 million) 10-year bond at an average yield of 105 basis points higher than comparable benchmark South African bonds. It was Namibia’s first bond issue denominated in the South African currency. The country announced plans to sell an additional 2.15 billion in rand bonds in the future.
High-income Economies…Euro Area GDP contracted 0.1% (q/q) in the third quarter of 2012, following a 0.2% decline in the second quarter, as the currency union’s economic performance continues to suffer from the ongoing debt crisis and fiscal austerity. The two consecutive quarterly GDP declines imply a technical recession (the second one since 2009). On a year-on-year basis, Euro Area output fell at a slower pace of 0.4% (y/y) in Q3 compared to a 0.6% (y/y) drop in Q2.
Positive quarterly GDP increases in the third quarter in the two largest Eurozone economies, Germany (+0.2% q/q in Q3 vs. +0.3% in Q2) and France (+0.2% in Q3 vs. -0.1% in Q2), were partially offset by GDP declines in Spain (-0.3% in Q3 vs. -0.4% in Q2), Italy (-0.2% in Q3 vs. -0.7% in Q2), the Netherlands (-1.1% in Q3 vs. +0.1% in Q2), and Portugal (-0.8% vs. -1.1%); earlier data showed Greece’s output contracted at a faster pace of 7.2% (y/y) in Q3 compared to a 6.3% (y/y) decline in Q2.
Economics
96% of Foreign Investors still confident in Thailand says BOI
The Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.

BANGKOK (NNT) – With the COVID-10 pandemic causing significant disruption around the world including in Thailand, the Board of Investment of Thailand’s (BOI) latest survey, shows most foreign investors, estimated at 96%, are still confident in the country, and are willing to bring forward their investments.
(more…)Economics
Thailand Tops Bloomberg’s Emerging Markets List
Bloomberg surveys show that analysts are penciling in high rates of growth next year for some of those that have been hardest-hit in 2020.

Thailand and Russia are well placed to be among the emerging-market standouts that could beat expectations next year, according to a Bloomberg study of 17 developing markets gauging their outlook for 2021.
(more…)Economics
COVID-19 pandemic wiped out 81 million jobs in Asia-Pacific countries
Some 81 million jobs lost as COVID-19 creates turmoil in Asia-Pacific labour markets, according to ILO report.
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