Economy and industry

Commercial banks are expected to post strong loan growth this year, as more large businesses are seeking credit due to the volatile debt market amid the coronavirus outbreak, a senior director at the Bank of Thailand (BoT) said on Monday.Loans grew 4.1% in the first ...

The country’s economy contracted in the first quarter for the first time since 2014 as the coronavirus outbreak cut off tourist arrivals and shuttered commerce.Gross domestic product shrank 1.8% from a year ago, the National Economic and Social Development Council (NESDC) said on Monday. That’s ...

Thailand’s central bank is widely expected to cut its benchmark interest rate to a new low at its policy review on Wednesday to cushion the economy from the impact of the coronavirus outbreak.Sixteen of 18 economists in the poll predicted the Bank of Thailand’s (BOT) ...

The Thai Ministry of Labour has invoked the Emergency Decree to prohibit labour strikes and lockouts during the Covid-19 outbreak. Any labour disputes will be transferred to the Labour Relations Committee appointed by Chatumongol Sonakul, the Minister of Labour.The order has been in effect from ...

Tourism and Sports Minister Pipat Ratchakitprakarn and the Tourism Authority of Thailand stand ready to revive the tourism sector once the Covid-19 outbreak slows down, Government Deputy Spokesperson Traisulee Traisoranakul said on Saturday (May 16).She added that the ministry would focus on promoting hygiene and ...

The Tourism and Sports Ministry is aiming high for 100 million domestic trips within this year, while the private sector plays down this target, saying it will be difficult to meet.“This new domestic target is reachable because local travel is likely to resume first, particularly ...

Thai GDP in the first and second quarters of 2020 faces a sharp year-on-year decline due to the global economic slowdown, widespread drought and coronavirus impact.But prospects are expected to improve in the third quarter onwards, boosted by the 1-trillion-baht plan for cash handouts to ...

Thai residents living in eight northeastern provinces along the Mekong River are opposed to Laos’ plans to construct a new hydropower dam on the Mekong River over fears it will threaten the river system, where seasonal flooding supports fisheries and regional agriculture.The protest comes as ...

The National Credit Bureau’s 104 members saw an upsurge in non-performing loan (NPL) ratio to 8.1% at the end of March from 6.8% a year earlier as headwinds such as the coronavirus outbreak took hold, says the NCB.Bad loans for mortgages, auto and personal loans ...

The troubled debt restructuring (TDR) scheme offered to small and medium-sized enterprises (SMEs) was affected by subpar economic growth, a stumbling block for many firms in accessing additional lending as well as the central bank’s sponsored soft loans, says the head of the National Credit ...