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☆ 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.

Like many residents, he's been on a spree - because on Jan. 1 Singapore's sales tax goes up for the first time in 15 years. From next year, the sales tax on everything from groceries to diamond rings goes from 7% to 8%. By buying everything now before the hike, Soif said he's saving S$250 ($185) on his purchases, now in storage at retailers' facilities. The upbeat spending comes against a backdrop of concern, and some opposition, among the population about the tax hike. It has also said it would review the second step of the tax hike if there was a major global downturn next year.

☆ Daughter of ex Thai PM Thaksin extends pre-election poll lead
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +2 min

Paetongtarn's support rose sharply from 21.6% from a September poll, when the majority surveyed were undecided. Thailand must hold an election by May next year, according to its election commission, but no date has yet been set. Respondents in NIDA's poll who backed Paetongtarn said it was due to her "party's policies and previous achievements of the Shinawatra family." Thaksin and Yingluck have been in self-imposed exile to avoid jail sentences handed down by courts during military rule. Pita Limjaroenrat, leader of the opposition Move Forward party, was third in the poll with 13.25%, while 8.25% were undecided.

☆ Thai power price hike to hurt business, competitiveness - business group
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

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.

☆ Thailand hosts Myanmar junta figures in talks, key ASEAN nations skip
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +4 min

Foreign ministers of Myanmar, Laos and Cambodia and Vietnam's deputy foreign minister joined the talks hosted by Thailand's foreign minister, according to Thai foreign ministry spokeswoman Kanchana Patarachoke. "The consultation was a non-ASEAN meeting but intended to complement ASEAN’s ongoing collective efforts to find a peaceful political resolution," Kanchana said in a statement. Myanmar Foreign Minister Wunna Maung Lwin attended along with Kan Zaw, minister for investment and foreign economic relations, and Ko Ko Hlaing, minister for international cooperation, Myanmar's foreign ministry said in a statement. The Philippines said its foreign minister would also not join, without elaborating. "Any meeting convened under ASEAN, formal or informal, should not divert from this decision," it said, according to the source.

☆ Relatives despair as search continues for Thai marines missing at sea
▼ + stars: | 2022-12-21 | by ( Napat Wesshasartar | ) www.reuters.com time to read: +2 min

REUTERS/Napat WesshasartarBANG SAPHAN, Dec 21 (Reuters) - Hopes faded on Wednesday among relatives of Thai marines still missing after their warship sank off the country's central coast, even as military-led rescue teams expanded their search area. The navy and air force mobilised five planes, six helicopters, and at least four warships to find the missing sailors. The navy said on Twitter that search efforts were focused on the area where others had been found on Tuesday. Families awaited news at rescue centres onshore, but some were already grieving as rescue teams flew in the recovered bodies. Including the HTMS Sukhothai, Thailand's navy has lost four warships in the 116 years since its founding.

☆ Thailand's navy searches for missing marines in race against time
▼ + stars: | 2022-12-20 | by ( Napat Wesshasartar | ) www.reuters.com time to read: +2 min

[1/4] Crew members from the capsized HTMS Sukhothai warship receive medical treatment in the Gulf of Thailand, December 18, 2022. Royal Thai Navy/Handout via REUTERSBANG SAPHAN, Thailand, Dec 20 (Reuters) - Navy ships and rescue teams searched waters off central Thailand on Tuesday in a race against the clock to locate 30 missing marines, who abandoned a warship that sank at the weekend in choppy waters. The HTMS Sukhothai warship, a U.S.-made corvette in use since 1987, suffered an engine malfunction and went down just before midnight on Sunday about 20 nautical miles off the coast. The vessel was carrying 105 military personnel when it capsized after being knocked over by big waves as water flooded its engines. Though military accidents, often with aircraft, are not uncommon in Thailand, incidents involving navy vessels have been rare in recent years.

☆ 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.

☆ Thai navy hunts for 33 missing marines after warship sinks
▼ + stars: | 2022-12-19 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, Dec 19 (Reuters) - Thailand's military deployed warships and helicopters on Monday to try to locate 33 marines missing after a corvette sank overnight in choppy waters in the Gulf of Thailand, the navy said. Three navy vessels and two helicopters were sent to find the missing off Prachuap Khiri Khan province, south of Bangkok, after the HTMS Sukhothai warship suffered an engine malfunction and went down just before midnight about 20 nautical miles off the coast. An overnight rescue mission in bad weather secured 73 of the 106 people aboard, the navy said, with the remaining 33 forced to abandon ship. The Sukhothai, a U.S.-built corvette in use since 1987, was hit by strong waves on Sunday, forcing it to tilt to one side before becoming flooded with seawater, navy spokesperson Admiral Pogkrong Monthardpalin said. Reporting by Juarawee Kittisilpa, Panu Wongcha-um and Napat Wesshasartar; Writing by Martin Petty; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Prayers in Thailand for king's hospitalised daughter
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +2 min

[1/3] Well-wishers sign a book and pay their respects for Thailand’s Princess Bajrakitiyabha as she has been hospitalized due to a heart problem at Chulalongkorn hospital in Bangkok, Thailand, December 16, 2022. Prime Minister Prayuth Chan-ocha and many senior officials, politicians and religious leaders visited Chulalongkorn hospital on Friday to lay orange flowers, the colour associated with the princess, and sign a book of well wishes. Thailand's Buddhist Supreme Patriarch, Somdet Phra Ariyavangsagatayana has requested all Thai temples at home and abroad to conduct special daily chanting sessions for the princess, an official announcement from the National Office of Buddhism said. The princess is one of three children of King Vajiralongkorn who has a formal title, making her eligible for the throne under a 1924 Palace Law of Succession and the country's constitution. Reporting by Panu Wongcha-um and Athit Perawongmetha; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Thailand will be a stand-out country in 2023, says economist
▼ + stars: | 2022-12-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThailand will be a stand-out country in 2023, says economistEuben Paracuelles of Nomura says Thailand's current account deficit is going to "turn around very sharply" next year, as China's reopening will eventually bring back tourists to the Southeast Asian nation.

☆ Eldest daughter of Thai king hospitalised with heart problem - palace
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +2 min

[1/4] Thailand's Princess Bajrakitiyabha greets her royalists as she leaves a religious ceremony to commemorate the death of King Chulalongkorn, known as King Rama V, at The Grand Palace in Bangkok, Thailand, October 23, 2020. REUTERS/Athit Perawongmetha/File PhotoBANGKOK, Dec 15 (Reuters) - The eldest child of Thai King Maha Vajiralongkorn has been hospitalised due to a heart problem and her condition has stabilised to a certain level, the royal palace said on Thursday. She was flown by helicopter to Bangkok after her condition stabilised at a certain level, the palace said in a statement, without elaborating. The princess is one of three children of King Vajiralongkorn who have formal titles, making her eligible for the throne under a 1924 Palace Law of Succession and the country's constitution. King Vajiralongkorn has yet to formally designate an heir since becoming king in 2016 and there has been no official discussion on the prospect of the princess taking the throne.

☆ Gotion and PTT Group plan battery venture in Thailand
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 15 (Reuters) - Volkswagen-backed Chinese battery maker Gotion High Tech (002074.SZ) will partner Thailand's PTT Group in the production and export of battery modules and packs in Thailand, the company said in a Shenzhen filing on Thursday. Gotion's Singapore unit will set up a joint venture with PTT for the projects with initial registered capital of 300 million Thai Baht ($8.60 million), the company said. ($1 = $1.0000)($1 = 34.9000 baht)Reporting by Zhang Yan, Ella Cao and Meg Shen Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Investors look to emerging markets as planets align for end of dollar bull market
▼ + stars: | 2022-12-06 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

NEW YORK, Dec 6 (Reuters) - As the U.S. dollar tumbles from multi-decade highs, some investors are betting emerging market currencies will be big winners from a sustained reversal in the greenback. Signs of a broader turn in dollar sentiment are visible in the buck’s 8% decline against a basket of developed market currencies from its September highs. "The planets are lining up for a dollar bear market," said Paresh Upadhyaya, director of fixed income and currency strategy at Amundi US. Emerging market currencies have outperformed their developed market counterparts this year, with MSCI's index of emerging market currencies down 5% year-to-date, while the dollar's G10 peers have lost nearly twice as much. Conversely, tightening by central banks around the world also risks sparking a global recession, a scenario some believe could hurt emerging market currencies and help the dollar.

☆ Thai central bank to deliver third straight 25bps hike on Nov. 30
▼ + stars: | 2022-11-28 | by ( Anant Chandak | ) www.reuters.com time to read: +3 min

"Negative real interest rates will continue to favour the Thai economic recovery as it diverges away from an ultra-tight monetary policy elsewhere in the world, most notably in the U.S. and Europe." Despite the wide interest rate gap, the baht has been one of the top performers in emerging market currencies, depreciating only about 7% so far this year. The government wants tourism next year to reach 80% of its pre-pandemic levels, even as global growth is likely to slow. "We expect Thai international tourism arrivals to be resilient to the global economic slowdown, with arrivals showing low sensitivity to global economic activity fluctuations historically," said Chua Han Teng, economist at DBS. Reporting and Polling by Anant Chandak; Editing by Ross Finley and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

☆ Thailand still wants Russian tourists – and direct flights are making it easy to get to Phuket
▼ + stars: | 2022-11-26 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +3 min

Direct flights between Russia and Thailand's largest island, Phuket, resumed on October 30. On the same day, the Russian state-owned airline Aeroflot restarted direct flights to Thailand, India, and the Maldives. In January, 24,000 Russian tourists arrived in Phuket. Now that direct flights have returned, Russian airlines are fast expanding their routes to Thailand, according to The Thaiger. The country aims to welcome 1 million Russian tourists in 2022, per DW, with numbers forecast to peak in the coming winter as Russians trade cold for tropical beaches.

Separately, police fired rubber bullets to disperse anti-government protesters in Bangkok as the host of the Asia-Paciﬁc Economic Cooperation (APEC) summit, Thai Prime Minister Prayuth Chan-ocha, opened the conference. U.S. Vice President Kamala Harris called an emergency gathering of leaders from Australia, Japan, South Korea, Canada and New Zealand on the sidelines of the summit after North Korea carried out the missile test. "This conduct by North Korea most recently is a brazen violation of multiple U.N. Security Council resolutions," she said. Japanese Prime Minister Fumio Kishida, who is in Bangkok for the APEC meeting, told reporters North Korea had "repeated its provocations with unprecedented frequency". First Deputy Prime Minister Andrei Belousov is representing him at APEC.

☆ APEC leaders to continue trade discussions; Kamala Harris, Emmanuel Macron to deliver speeches
▼ + stars: | 2022-11-18 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

French President Emmanuel Macron delivers a speech during a meeting with French nationals living in Thailand at the Peninsula hotel in Bangkok on November 17, 2022, on the sidelines of the APEC Summit. (Photo by Ludovic MARIN / AFP) (Photo by LUDOVIC MARIN/AFP via Getty Images)The APEC leaders' meeting begins Friday, as the world's economic leaders are expected to continue discussions of trade and sustainable economic growth. APEC ministers on Thursday exchanged views on how the region can maintain momentum for open trade, investment and travel resumption despite disruptions, according to Thailand's Foreign Ministry. On the agenda is the last day of the CEO summit as well as an economic leaders meeting spanning Friday and Saturday. U.S. Vice President Kamala Harris and French President Emmanuel Macron are also expected to deliver keynote speeches later on.

☆ JPMorgan says these global travel stocks are poised to pop as China eases Covid restrictions
▼ + stars: | 2022-11-18 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +3 min

It added that the uncertain economic outlook hasn't yet eaten into leisure travel spending — with the International Air Transport Association continuing to see strong forward international air travel bookings. The bank's key picks to play the sector are Beijing Capital International Airport and Shanghai Airport. Other airline stocks that are among JPMorgan's picks include Air China and Qantas Airways . Other stocks that could take flight Apart from airport and airline stocks, China's reopening would also benefit hotels, restaurants and leisure sectors , according to a Goldman Sachs note from Nov. 6. These stocks include casino operators Galaxy Entertainment and Sands China , food chain Yum China , as well as Trip.com .

☆ APEC summit host Thailand urges leaders to put aside differences
▼ + stars: | 2022-11-18 | by ( Juarawee Kittisilpa | ) www.reuters.com time to read: +4 min

[1/3] Thailand's Prime Minister Prayuth Chan-ocha, wife Naraporn Chao-ocha, China's President Xi Jinping and wife Peng Liyuan attend the Gala dinner of the APEC Summit 2022, in Bangkok, Thailand, November 17, 2022. Thailand Government House/Handout via REUTERSBANGKOK, Nov 18 (Reuters) - Thailand, the host of the APEC summit, urged leaders of the group meeting in Bangkok on Friday and Saturday to "rise above differences" and focus on resolving pressing global economic issues in areas such as trade and inflation. China's President Xi Jinping is attending the summit, while the United States is being represented by U.S. Vice President Kamala Harris. Security was tight at the APEC summit with around 100 anti-government protesters gathered and planning to march on the meeting venue on Friday morning. First Deputy Prime Minister Andrei Belousov will represent him at APEC.

[1/5] A person enters a cannabis shop near the venue of the Asia-Pacific Economic Cooperation (APEC) Summit in Bangkok, Thailand November 17, 2022. Since Thailand decriminalised cannabis this year shops selling homegrown and imported strains, pre-rolled joints and gummies sprang up rapidly. A cannabis regulation bill to govern cultivation, sale, and consumption has been delayed in parliament, causing confusion over just aspects will be legal. The president of Thailand's association of forensic physicians, Smith Srisont, petitioned a court last week to re-list it as a narcotic. Akira Wongwan, the chief executive of a medical cannabis business, Adam Group, said profit margins for recreational cannabis were "super high".

☆ Thailand's deputy PM discusses the country's ties with Saudi Arabia
▼ + stars: | 2022-11-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe've resumed our diplomatic relationship with Saudi Arabia 'in full': Thai deputy prime ministerAnutin Charnvirakul, Thailand's deputy prime minister, discusses ties between the two countries ahead of Saudi Crown Prince Mohammed bin Salman's first official visit to the Southeast Asian country.

☆ Southeast Asia leaders kick off ASEAN summit in Cambodia
▼ + stars: | 2022-11-11 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Cambodia, this year's chair for the Association of Southeast Asian Nations (ASEAN), is hosting the weekend summit in Phnom Penh — the group's first in-person meeting since the Covid pandemic. Leaders from the U.S., China, South Korea and Japan will also be meeting ASEAN leaders in Phnom Penh. "Looking to the future, ASEAN needs to strongly promote the values that have made ASEAN successful over the past five decades. The ASEAN nations want more trading partners, the more, the better," he told CNBC's "Street Signs Asia" on Thursday. The Treaty of Amity and Cooperation in Southeast Asia is a peace treaty among Southeast Asian countries established in 1976.watch now

☆ Thailand's floating basket festival
▼ + stars: | 2022-11-08 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

A boy swims in a fountain at Saphan Hin park as he helps to place a Krathong, or a "floating basket", in the water amid a yearly festival during which rafts of neatly folded banana leaves, decorated with flowers, candles and incense, are offered to...moreA boy swims in a fountain at Saphan Hin park as he helps to place a Krathong, or a "floating basket", in the water amid a yearly festival during which rafts of neatly folded banana leaves, decorated with flowers, candles and incense, are offered to thank the water goddess for good luck and for using her water to grow crops and support all life, in Phuket, Thailand November 8, 2022. REUTERS/Jorge Silva TPX IMAGES OF THE DAYClose

☆ Thai headline CPI rises 5.98% y/y in Oct, slightly below forecast
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

Summary Headline CPI +5.98% vs poll forecast +6.0%Core CPI up 3.17% vs poll's 3.20%Govt support, stable prices to slow inflation - ministryBANGKOK, Nov 7 (Reuters) - Thailand's headline consumer price index (CPI) rose 5.98% in October from a year earlier, official data showed on Monday, slightly lower than forecast and the slowest pace in six months. The rise follows September's 6.41% increase and was just shy of the 6.0% forecast in a Reuters poll. The core CPI index, which strips out energy and fresh food prices, was up 3.17% in October from a year ago, versus a forecast rise of 3.20%, the commerce ministry said. Headline inflation forecast for the year is still seen at the 5.5% to 6.5% range, the commerce ministry said. Reporting by Kitiphong Thaichareon, Satawasin Staporncharnchai; Writing by Chayut Setboonsarng; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

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