Posts Tagged ‘politics’
Tuesday, June 29th, 2010
The Thai economy is recovering and if the political situation is stable and the financial crisis in Europe over, gross domestic product (GDP) could expand by 5.2 per cent this year, Thanawat Polwichai, director of the Economic and Business Forecasting Centre at the University of the Thai Chamber of Commerce, said on Tuesday.
Mr Thanawat said a survey of economic expansion in the first quarter of the year confirmed that the economy has rebounded in all regions due to global economic recovery that helped boost the country’s exports.
The survey found that first quarter GDP growth is projected at 9.2 per cent in the Northeast, 8.6 per cent in the North, 9.1 per cent in the South, 16 per cent in Central, and 11.1 per cent in Bangkok and its vicinity. These would make the country’s GDP expand by 12 per cent in the first quarter.
He projected that economic recovery in the region would help boost Thai economic growth to as high as 5.2 per cent at year-end — on the condition that politics is rapidly stabilised, the world economy has recovered as expected and there is no further financial crisis in Europe.
If there is no political stability, the world economy expands slower than expectations and the European financial problem continues, Thai GDP growth could be as low as 3.5 per cent, the director said.
The centre maintained its GDP growth forecast at 4.5-5.2 per cent for 2010.
The Bangkok Post
Tags: Asia, Bangkok, banks, economy, GDP, growth, political, politics, recovery, Thai, Thailand, unrest
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Tuesday, June 15th, 2010
Singapore’s unemployment rate was 2.2 percent in the first quarter, unchanged from the preliminary estimate, the Manpower Ministry said on Tuesday.
The final jobless figure for the first three months of 2010 was a slight improvement from 2.3 percent in the fourth quarter of 2009.
Total employment rose by 36,500 during the first quarter, higher than the initial estimate of 34,000 reported in April.
Tue, Jun 15, 2010
Reuters
Tags: Asean, Asia, economy, employment, investments, investors, job, political, politics, Singapore
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Tuesday, June 15th, 2010
The Bank of Thailand (BoT) said the country’s economy is still on the path to recovery, but warned the private sector that the interest rate has a tendency to rise gradually.
After attending a meeting of BoT and private sector representatives on Tuesday morning, Thai Chamber of Commerce deputy chairman Pongsak Assakul said the central bank had reported that the country’s overall economic situation was slowly recovering and was not heavily hit by the political situation.
But the BoT was concerned that the tourism industry could be severely affected by the recent political unrest, Mr Pongsak said.
“The central bank also warned the private sector that the interest rate will likely rise steadily, as it has been kept at a low level for a long time,” he said.
The private sector wanted the baht’s value to be closer to the currencies of other trade partners even though the BoT insisted the Thai currency was not much stronger than other currencies in the region, he said.
Bangkok Post
15/06/2010
Tags: Asean, Asia, baht, Bangkok, banks, economy, exchange, interest, investments, investors, political, politics, rate, stock, Thailand
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Tuesday, June 15th, 2010
As we expected ASEAN Markets have been performing well with Thailand leading the way. Today will offer a good buying opportunity as a weaker Wall St exchange will lower values around ASEAN for the day.
Thailand Stock Exchange rose 1.5 percent on Monday as higher consumer confidence improved the market for companies reliant on the domestic economy, while energy shares in the region got a lift from a strong oil market.
Thailand Stock Exchange is by far the best buy in Asia as stocks are trading at a 12-month forward price to earnings ratio of 10.4, the lowest valuation in the region and a great bargain for investors.
June 15, 2010
East Asian Times
Tags: Asean, Asia, baht, Bangkok, banks, economy, exchange, investments, investors, political, politics, stock, Thailand
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Thursday, May 27th, 2010
Despite negative impact from political violence, the economy could expand by 4.5 per cent to 5.2 per cent this year, Thanawat Polwichai, director of the Economic and Business Forecasting Centre at the University of the Thai Chamber of Commerce, said on Thursday.
Dr Thanawat said the projection was based on the facts that the country has strong economic fundamental and the export sector, the key economic driver, was not hurt by the political turmoil. He expected exports to grow by 13 per cent in 2010.
Moreover, it is expected that the government’s measures to help business operators affected by the political unrest would help boost domestic consumption, he said, adding that the reconciliation road map would also help stabilize the Thai politics which would help boost confidence of investors.
The director forecast that economic expansion would be around 12 per cent in the first quarter of the year, 2 per cent in the second quarter and 3 per cent each in the third and fourth quarters. Thus, the gross domestic product growth rate for this year would be no les than 4.5 per cent to 5.2 per cent.
In the worst case scenario as another round of political riot takes place, the economy would grow by about 3.5 per cent, the academic said.
Bangkok Post
Tags: Asia, Bangkok, commerce, consumption, economy, forecast, GDP, political, politics, red shirts, safe, Thailand, unrest
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Wednesday, May 26th, 2010
Tourists can visit safely, political unrest in Thailand is now completely under control and order has been restored in Bangkok and other provinces, the Ministry of Tourism and Sports said in a statement issued on Wednesday.
The statement said the ministry attaches high importance to the safety and security of international tourists.
“Major tourism destinations in provinces across the country are still pristine, peaceful and safe. Various measures have been implemented to return normalcy to the country and to assure foreign visitors that Thailand remains a quality and value for money destination,” it said.
Free travel insurance for foreign tourists and the waiver of tourist visa fees had been extended to March 31 next year.
The government had also introduced insurance measures to protect foreigners visiting Thailand who suffer as a result of civil unrest or were prevented from leaving the country.
“Major tourist destinations, facilities and services are still regularly being accessed by both domestic and foreign tourists.
“Public utilities and mass transportation services are fully operative. Suvarnabhumi airport and other international airports remain in operation without any disruption,” the statement said.
Bangkok Post
Tags: Asia, Bangkok, economy, political, politics, red shirts, safe, Thailand, tourism, tourists, unrest
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Wednesday, May 26th, 2010
Hotels in Bangkok’s main commercial and shopping district which were closed during the ‘red shirt’ crisis are now reopening their doors.
On Wednesday such iconic properties as the Four Seasons, Grand
Hyatt Erawan, Dusit Thani and InterContinental will start welcoming guests back.
Already open are the Courtyard Marriott, Amari Watergate and MBK’s Pathumwan Princess. A number of others will resume operations in the next week including Centara Grand, Arnoma and the Indra Regent. While at the Holiday Inn, no announcement has been made yet at this time.
Both the BTS Skytrain and MRT are in service. Both Paragon and Gaysorn Shopping Center’s are working to take back shoppers in the next week. While at the Emporium, traffic levels have been exceptionally high from the displacement of Central World demand.
I was in Bangkok the past few days and seeing enthusiastic staff in front of the hotels cleaning, sweeping and working together to get back to work the mood has taken a decidedly optimistic shift from the high profile trouble of the past few months.
Tags: Asia, Bangkok, economy, hotels, political, politics, red shirts, Thailand, unrest
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Thursday, May 20th, 2010
Banks nationwide can be open Friday, Saturday and Sunday, Bank of Thailand (BOT) assistant governor Sorasit Soontornkes said on Thursday.
Mr Sorasit said the central bank had received many complaints from the public after it announced that all commercial banks and financial institutions will remain close this weekend due to the escalating political unrest in Bangkok and other provinces.
Debt payments had become a problem following the announcement, he said.
“To ease people’s financial difficulties, all banks, especially the ones in department stores, can open from Friday to Sunday without asking for the BOT’s permission,” the assistant governor said.
Bangkok Post
Tags: Asia, Bangkok, banks, economy, political, politics, Thailand, unrest
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