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[1/2] FILE PHOTO-Pita Limjaroenrat, Move Forward Party's leader and prime ministerial candidate, reacts during an upcoming election campaign event in Bangkok, Thailand, April 22, 2023. Pita Limjaroenrat, 42, the charismatic leader of the Move Forward party, jumped ahead of Paetongtarn Shinawatra of the main opposition Pheu Thai, with 29.37% support versus her 27.55% in a countrywide survey by Nation media group. Reuters GraphicsBoth polls showed the pro-military Palang Pracharat party, the Democrats and Bhumjaithai - current coalition partners - trailing the opposition by a large margin. Most experts believe Pheu Thai will need to form an alliance to govern and Paetongtarn on Wednesday hinted it could partner with Move Forward and ruled out military-backed parties. Separately, a Super Poll survey on parties released on Friday of 14,332 people also showed Pheu Thai leading with 139 of 500 parliamentary seats, followed by Bhumjaithai with 112 seats, and Move Forward with 63 seats.
Thai c.bank chief sees economy growing at 3.6% this year
  + stars: | 2023-04-24 | by ( ) www.reuters.com   time to read: +1 min
BANGKOK, April 24 (Reuters) - Thailand's economy is still seen growing at 3.6% this year, the central bank chief said on Monday, in spite of some turbulence in the first half of the year. Bank of Thailand (BOT) Governor Sethaput Suthiwartnarueput told reporters exports are seen down 7.1% year-on-year in the first half of 2023, before rising 4.2% in the second half. Headline inflation, which cooled to 2.83% in March, is expected at 3.3% in first half and 2.5% in the second half. The BOT last month raised its benchmark rate by a quarter point to 1.75% to curb inflationary pressures. The BOT has raised its key rate by a total of 125 basis points since August, less aggressive than many of its peers.
Thai PM Prayuth to run for re-election in May
  + stars: | 2023-03-25 | by ( ) www.reuters.com   time to read: +2 min
[1/8] Thailand's Prime Minister Prayuth Chan-ocha, as the PM candidate from the United Thai Nation Party (Ruam Thai Sang Chart Party), gestures with party's members during an event to unveil the party's candidates list and campaing for the upcoming election, in Bangkok, Thailand, March 25, 2023. REUTERS/Athit PerawongmethaBANGKOK, March 25 (Reuters) - Thailand's Prime Minister Prayuth Chan-ocha was officially nominated for re-election on Saturday as his party's first candidate for the country's next leader in polls set for May 14. Prayuth, 69, is running with the new United Thai Nation Party, and will likely face Pheu Thai party's Paetongtarn Shinawatra, daughter and niece of two former premiers from the billionaire family. "We volunteer to make everyone as happy as possible," Prayuth said at a party event to introduce its candidates for all 400 constituencies. Party leader Pirapan Salirathavibhaga was nominated as the party's No.
Domestic spending has increased and the government will accelerate large project investment to help growth, Arkhom Termpittayapaisith told a Radio Thailand programme. Southeast Asia's second-largest economy expanded a weaker-than expected 2.6% last year, lagging that of others in the region as its tourism sector just started to pick up. Headline inflation should return to the central bank's target range of 1% to 3% this year, helped by government measures and lower food prices, Arkhom said. A baht exchange rate of 34 to 35 per dollar is helpful for export prices despite falling export volumes, he added. Reporting by Orathai Sriring, Kitiphong Thaichareon and Satawasin Staporncharnchai; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.
BANGKOK, Feb 20 (Reuters) - Thai banks' non-performing loans stood at 2.73% of total lending at the end of December 2022, down from 2.77% at the end of September, helped by debt restructuring, the central bank said on Monday. Bad loans are likely to increase but not sharply, while existing debt measures are sufficient to support vulnerable groups, assistant central bank governor Suwannee Jatsadasak told a news conference. The BOT will continue to monitor the debt servicing of households, which remained fragile, and the recovery of some business groups, the BOT said. Loans grew 2.1% in 2022, slowing from a 6.5% rise in the previous year, due in part to debt repayments by large businesses, the BOT said. Suwannee said lending was likely to grow in line with the economy but gave no specific forecast.
Thailand's economy is expected to continue growing while headline inflation should decline and return to a target range of 1% to 3% late in the year, the central bank said. Any further rate hikes would be gradual and measured, it said, but added it stood ready to adjust them as needed. "The committee deems that a continuing gradual policy normalisation is an appropriate course for monetary policy consistent with the growth and inflation outlook," the BOT said in a statement. It added it expected "increased risks from demand-side inflationary pressures due to the economic recovery". China's reopening is expected to further boost Thailand's tourism, with the government predicting at least five million Chinese visitors this year, about half of the 2019 figure.
Thai central bank raises key rate 25 bps as expected
  + stars: | 2023-01-25 | by ( ) www.reuters.com   time to read: +3 min
The Bank of Thailand's (BOT) monetary policy committee voted unanimously to raise the one-day repurchase rate (THCBIR=ECI) to 1.50% at its first review of the year. Of 23 economists polled by Reuters, 21 had expected a quarter point hike while the remaining two forecast no change. Thailand's economy is expected to continue growing while headline inflation should decline, the central bank said in a statement. With Wednesday's move, the central bank has raised the benchmark rate by a total of 100 basis points (bps) since August. China's reopening is expected to further boost Thailand's tourism, with the government predicting at least five million Chinese visitors this year, about half of the 2019 figure.
REUTERS/Chalinee ThirasupaBANGKOK, Jan 24 (Reuters) - Thailand received 11.15 million foreign visitors in 2022, a surge from just about 428,000 the previous year when broad pandemic-related travel curbs were in place, tourism ministry data showed on Tuesday. The figures, which beat the government's target, reflect a solid turnaround as Thailand tries to revive its vital tourism industry, which bore the brunt of its strict entry and quarantine policies during the pandemic. In December, there were 2.24 million foreign tourists, compared with 230,497 in the same month a year earlier. Pre-pandemic 2019 saw a record of nearly 40 million foreign tourists for the full year. China's reopening is expected to further boost Thailand's vital tourism sector, which before the pandemic accounted for about 12% of gross domestic product in Southeast Asia's second-largest economy.
[1/5] Colorful umbrellas are seen in a restaurant as tourists enjoy a beach in the island of Phuket in Thailand January 19, 2023. Previously, when I was here, I ate mango sticky rice, which was delicious. Back in China I kept thinking about the mango sticky rice here. The Chinese return was welcomed by businesses, despite some wariness about a huge spike in COVID infections in China after Beijing ended its zero-COVID policy. The Thai government is expecting at least five million Chinese tourist arrivals this year, with some 300,000 coming in the first quarter.
[1/5] A Chinese tourist rides on an elephant in a jungle park ahead of Lunar New Year in Phuket, Thailand January 20, 2023. REUTERS/Jorge SilvaPHUKET, Thailand, Jan 21 (Reuters) - An elephant camp in Thailand has purchased six new jumbos to welcome tourists and returning Chinese visitors, offering activities from elephant rides to elephant showers, the owner said. Pang Chang Kamala Elephant Camp on the resort island of Phuket is also adding programmes such as elephant care due to a rise in bookings after the Lunar New Year, camp owner Wittaya Taweeros told Reuters. With 25 elephants now, the camp can receive 300 tourists per day, up from 200, he added. China's reopening raises hopes for the return of Chinese visitors, who accounted for nearly a third of Thailand's 40 million foreign tourist arrivals in pre-pandemic 2019.
One of Asia's most popular travel destinations, Thailand is seeing a much-needed tourism boom, with 1.75 million visitors in November, quadruple the number received for the whole of last year when flights and foreign arrivals were limited by the pandemic. Russian arrivals in November represented about 60% of the number who visited in the same month in 2019. A top destination for Russians is Phuket, where they account for about a quarter of the island's visitors, helped by direct flights to there and Bangkok, according to Yuthasak Supasorn, governor of the Tourism Authority of Thailand (TAT). "In the evening you'll see Russian families strolling in the park along with locals," he said, adding some were staying until March. ($1 = 34.6200 baht)Reporting by Chayut Setboonsarng and Orathai Siring; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.
Thailand keeps inflation target of 1-3% for next year
  + stars: | 2022-12-27 | by ( ) www.reuters.com   time to read: +1 min
BANGKOK, Dec 27 (Reuters) - Thailand's cabinet on Tuesday approved the central bank's headline inflation target of 1% to 3% for 2023, unchanged from this year, government spokesperson Traisuree Traisoranakul told reporters. The inflation target, which guides monetary policy, is reviewed each year. Headline inflation stood at 5.55% in November, far above the Bank of Thailand's target range, suggesting the BOT will continue to raise its key interest rate to curb price pressures. The central bank forecast average headline inflation of 6.3% this year before easing to 3.0% next year. Reporting by Kitiphong Thaichareon Writing by Orathai Sriring; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.
BANGKOK, Dec 23 (Reuters) - Thailand's decision to hike electricity prices by 20% in early 2023 will push up inflation and undermine the country's competitiveness as the economy recovers gradually from the pandemic, a leading joint business group said on Friday. The business group urged the government to delay the price hike as manufacturers would be forced to increase the price of goods, said the group, which includes representatives from industry, banking and commerce. Surong Bulakul, vice chairman of the Thai Chamber of Commerce, said higher power prices could increase inflation to 3.5% next year, from 3% currently forecast, with interest rates on the rise. On Monday, the central bank said it would continue to raise rates for a while to help the economy and curb inflation. ($1 = 34.70 baht)Reporting by Orathai Sriring, Kitiphong Thaichareon Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.
Turnover surges as funds rush to exit private equity stakes
  + stars: | 2022-12-19 | by ( Rae Wee | ) www.reuters.com   time to read: +5 min
Conceived as an illiquid but lucrative method of accessing unlisted companies, private investments are typically structured into funds run by buyout firms. Investment firm Hamilton Lane says an unprecedented $224 billion in private equity stakes have been offered in the secondary market this year to mid-November. Others want to deploy their capital elsewhere - a sign that private equity funds are no longer so highly regarded. The need to sell to rebalance can occur when, as this year, private equity funds have outperformed public markets. On paper, plenty of private investments, which are typically valued quarterly, appear to have done very well this year.
BANGKOK, Dec 2 (Reuters) - European Central Bank President Christine Lagarde warned on Friday that some European governments' fiscal policies could lead to excess demand, and that fiscal and monetary policies need to work in synch for sustainable, balanced economic growth. "Fiscal policies that create excess demand in a supply constrained economy might force monetary policy to tighten more than would otherwise be necessary," Lagarde said at a conference hosted by the Bank of Thailand and Bank for International Settlements in Bangkok. "We need higher investment and structural reforms to remove the supply constraints and ensure that potential output is not impaired by the changing global economy. "And in a world where external demand is more uncertain, we will also need to strengthen the domestic supply and demand through higher productivity growth," she said. Its rate on bank deposits was increased by 200 basis points to 1.5% in three months.
Arkhom Termpittayapaisith in an interview with Reuters said that a weak baht was helping exports, which should grow 8% this year, and tourism. Arkhom said the Bank of Thailand (BOT)'s headline inflation target range of 1%-3% was still appropriate, despite consumer prices still exceeding the target. Last year's economic growth of 1.5% was among the slowest in the region, but the April-June period saw expansion of 2.5% from a year earlier and 0.7% from the previous quarter. Arkhom said third-quarter economic growth should be faster as more foreign tourists returned. Last month, the BOT raised its key interest rate for a second straight meeting, by a quarter point to 1.00%.
BANGKOK, Oct 12 (Reuters) - Thailand's rate committee raised its key interest rate late last month and noted that headline inflation was set to remain high through 2022, minutes of the meeting showed on Wednesday. Policy normalisation should be done in a gradual and measured manner consistent with the outlook for growth and inflation, the minutes said. Register now for FREE unlimited access to Reuters.com RegisterHeadline inflation would remain at a high level through 2022 and the outlook would still be subject to upside risks, the minutes said. The committee felt that potential labour shortage could affect the economic recovery and create upward pressures on wages in some business sectors, the minutes said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Orathai Sriring Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.
For several nights the sound of 34-year-old Panya Khamrap’s 9 mm pistol cracked the silence in the sleepy village of Tha Uthai, neighbours said. Another neighbour said that days before his rampage the village chief warned Panya about his behaviour. They argued and the village chief was afraid, said the neighbour, Suwan Tonsomsen. Another neighbour told Reuters he had seen Panya's mother with his degree certificate. Teachers in the nursery had put the children down for their nap by the time Panya arrived at around 12:30 p.m.
Register now for FREE unlimited access to Reuters.com RegisterA view of the port of Bangkok, Thailand May 26, 2016. REUTERS/Jorge Silva/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE - SEARCH BUSINESS WEEK AHEAD SEPTEMBER 26 FOR ALL IMAGES/File PhotoBANGKOK, Sept 26 (Reuters) - Thailand's customs-based exports rose 7.5% in August from a year earlier, the commerce minister said on Monday, slightly lower than analysts' expectations. That compares with a forecast rise of 7.7% for August in a Reuters poll, and after July's 4.3% increase. In the January-August period, exports rose 11% year on year, Jurin Laksanawisit told a news conference. Register now for FREE unlimited access to Reuters.com RegisterReporting by Orathai Sriring, Kitiphong Thaichareon, Satawasin Staporncharnchai Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.
Thai economy improving but household debt a problem - FinMin
  + stars: | 2022-09-26 | by ( ) www.reuters.com   time to read: 1 min
Register now for FREE unlimited access to Reuters.com RegisterBANGKOK, Sept 26 (Reuters) - Thailand's economy is improving but the country is facing issues with people's debt and the government will seek to ease problems in the longer term, Finance Minister Arkhom Termpittayapaisith said on Monday. Support would include new funding and debt restructuring Arkom said. Household debt in Thailand was about 89% of gross domestic product at the end of March, one of Asia's highest rates. Register now for FREE unlimited access to Reuters.com RegisterReporting by Orathai Sriring, Kitiphong Thaichareon, Satawasin Staporncharnchai; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.
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