Thailand Sees 8.5% GDP Contraction as Virus Ravages Economy

Thailand’s economy will likely contract 8.5% in 2020, worse than previously estimated and the biggest decline of any Asian nation this year.The Finance Ministry’s forecast, released in Bangkok on Thursday, compares with a previous projection of 2.4% growth. The central bank is estimating the economy ...

Thailand cuts key rate for third time as economic crisis worsens

The Bank of Thailand cut its benchmark interest rate for the third time this year to a record low as the economy is expected to shrink further amid the coronavirus pandemic.The central bank lowered the policy rate by 25 basis points to 0.5 per cent ...

Thailand Says Tourism Likely Won’t Improve Until Vaccine Found

A vaccine for the novel coronavirus is needed to help reverse a plunge in Thailand’s critical tourism sector, according to the agency that promotes the industry.Visitor numbers are set to tumble 60% to 16 million this year, almost halving foreign tourism income, but those numbers ...

Natnicha Chuwiruch

Thailand Now Has the World’s Worst Stock Market

Rising coronavirus cases in Thailand dimmed the outlook for a quick rebound in tourism, sending the nation’s equities benchmark to rank as the world’s worst performer.Thailand’s SET Index’s 5.1% slump on Wednesday, most in six years, came after the government said confirmed cases of the ...

Thai Agriculture Reels From Drought in Blow to Ailing Economy

Thailand is scaling back production forecasts for key agricultural commodities because of a drought, dealing a further blow to the country’s struggling economy.Rice, rubber and sugar are among the crops that help to sustain 11 million jobs, drive consumption and color the political mood of ...

Randy Thanthong-Knight

Thailand Seeks More Than $2 Billion in Auction of 5G Spectrum

Thailand will auction spectrum for fifth-generation mobile services on Sunday in a sale that may generate more than $2 billion.The National Broadcasting & Telecommunications Commission has said it expects firms to snap up as many as 28 of the 56 licenses available. That would be ...

Suttinee Yuvejwattana

Half the World’s Coral Reefs Already Have Been Killed by Climate Change

The oceans have long been the biggest buffer for humankind’s dangerous greenhouse-gas emissions. Around a quarter of all the carbon dioxide released into the atmosphere since the 1980s—from driving cars, running factories and churning out electricity with fossil fuels—has ended up sunk into the waters. ...

Thailand Says Slowing Economy Dims Outlook for Minimum-Wage Hike

The Thai government’s pledge to boost the country’s minimum wage is foundering because of an economic slowdown.U.S.-China trade tension and its impact on Thailand is one of the risks to monitor, according to Labor Minister Chatumongol Sonakul. An official report due Aug. 19 may show ...

Thailand's Minimum Wage Is Set for Second Increase in Two Years

Thailand is set to increase minimum wages for a second straight year as it looks to attract workers amid an aging population and shortage of labor in key industries.A subcommittee to decide on the extent of increase will meet in the next one to two ...

Electricity Billionaire Is Building the Tesla of Thailand

Energy Absolute already won over a group of five taxi unions, which ordered 3,500 cars for metropolitan Bangkok. It’s the epitome of a closed circuit: the utility helping power one of Southeast Asia’s biggest cities is building electric cars, batteries and charging stations for the ...

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