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Thai Economy Reels From Monthlong Unrest

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Gathering of the United Front of Democracy Against Dictatorship (UDD)

Thai troops patrolled Bangkok’s financial district on Monday in a show of force as protesters threatened a march on Tuesday that could incite a new confrontation.

With the nearby commercial center already paralyzed by thousands of protesters, the prospect of a demonstration in the financial district seemed emblematic of the economic costs of the monthlong unrest.

Fitch Ratings announced a cut in Thailand’s long-term currency credit outlook to negative from stable, citing the country’s continuing unrest.

The index for the nation’s main stock exchange, the SET, dropped for a third day by 1.3 percent to close at its lowest level in five weeks.

In another indication of flagging confidence, Amata, the country’s biggest seller of industrial land, said some Japanese clients — their biggest customers — had delayed signing deals.

via Thai Economy Reels From Monthlong Unrest – NYTimes.com.

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Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

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BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

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Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak

The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.

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The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.

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