Digital currency investors in Thailand will soon have a well-defined tax policy starting this month, the country’s tax authorities have revealed. Thailand’s tax department said it was working on clear criteria for calculating withholding tax on profits from digital currency trading, which it expects to finalize before the end of January. Thai Prime Minister Prayut […]
Visa Inc has joined rival Mastercard Inc in offering central banks a way to test retail apps for digital currencies they might issue. The card payment provider would begin piloting a program this spring with ConsenSys Inc, a blockchain software company, after discussions with about 30 central banks on goals related to government-backed digital currencies, […]
The popularity of Bitcoin and other decentralized cryptocurrencies continues to send ripples through the financial world. Private companies like Meta (formerly Facebook) have already started developing their own competing cryptocurrencies, and central banking institutions are also working on similar concepts. The introduction of a CBDC (Central Bank Digital Currency) in Thailand is set to begin […]
The government intends to pour 1 trillion baht into the economy which, together with positive figures from growing trade and export sectors, are expected to fuel all of the economic expansion slated for 2022. 300 billion baht have l The government’s injection will come from investments by state-owned enterprises, while another 600 billion comes from […]
BANGKOK, Nov.22 (Reuters) – Thailand’s central bank has cleared debt consolidation at all financial institutions to help retail debtors pay lower interest rates, an official said on Monday, as policymakers are trying to mitigate the impact of coronavirus outbreaks. Debtors can combine their unsecured debt with home loans from different banks, rather than the same […]
BANGKOK: Thailand’s central bank has cleared debt consolidation at all financial institutions to help retail debtors pay lower interest rates, an official said on Monday, as policymakers try to mitigate the impact of coronavirus outbreaks. Debtors can combine their unsecured debt with home loans from different banks, rather than the same lenders as before, Suwannee […]
After emerging from the worst recession since the 1998 Asian financial crisis in the second quarter, Southeast Asia’s second-largest economy shrank 0.8% in July-September from a year earlier, according to forecasts medians of 13 economists surveyed. On a quarterly basis, gross domestic product (GDP) likely contracted by 2.5% seasonally adjusted over the same period after […]
Visitors view information on a booth promoting e-CNY at an exhibition in Beijing. [Photo by Chen Xiaogen/For China Daily] Central bank director says global monetary ties can help defuse risks The People’s Bank of China, the Central Bank and the European Central Bank have “regular technical exchanges” on aspects such as the design, applications and […]
BENGALURU (Reuters) – Thailand’s economy likely returned to contraction in the last quarter, delaying a nascent recovery as strict restrictions to contain the spread of COVID-19 hit consumption and an already struggling tourism sector, said Reuters poll revealed. After emerging from the worst recession since the 1998 Asian financial crisis in the second quarter, Southeast […]
A trial of a digital cross-border payment system between Asia and the Middle East has progressed in the eight months since its launch, according to a report released on Wednesday. A total of 22 banks and financial institutions from mainland China, United Arab Emirates, Hong Kong and Thailand participated in the study of the Multiple […]
Central Retail Corp, a leading retail company in Thailand, is testing a digital currency among its employees. Once the sandbox phase is over, the retail giant plans to expand service to customers and the general public, according to a report by Bloomberg. C-Coin, a blockchain-powered cryptocurrency, is offered to 80,000 Central Retail Corp employees around […]
Krungthai Bank market strategist Poon Panichpibool yesterday reported that the Thai baht is likely to hover between 32.80 and 32.95 as foreign investment continues to leave the Kingdom. He said foreign investors decided to sell their assets in Thailand due to the uncertainty caused by the Covid-19 situation in the country. He too would lead […]
Thai exporters have been hit by the continued appreciation of the Thai baht. The currency’s strength was attributed to Thailand’s large current account surplus and foreign exchange reserves, supported by a strong economic base. BANGKOK – During a censorship debate targeting Prime Minister and Defense Minister General Prayut Chan-o-cha, Pheu Thai Party opposition MP for […]
Thailand is emerging as a society that uses less cash as consumers use digital networks and devices, with money transfer stimulus programs and the pandemic accelerating cashless transactions with PromptPay as the he whole world economy is moving towards a cashless world. Registration on PromptPay, the money transfer platform initiated by the government as part […]
Thailand is one of the few countries that can claim to have limited the internal spread of COVID-19 so far. The country has yet to reach 3,500 total cases, with a limited number of deaths, currently at 58. A timely closure of the border backed by initiatives widely adopted by Thai citizens has contributed to […]
SINGAPORE (ICIS) – Weak exports will continue to be a major drag on the Thai economy in the second half of this year, despite an expected recovery in domestic activity. According to Thailand’s National Council for Economic and Social Development (NESDC), exports in value terms are expected to fall by 10% in a full year, […]
DWORKS OF WORK, floods and mass protests, visitors have flocked to Thailand in recent decades. Almost 40m of them arrived last year to get stuck on its beaches and dance in its nightclubs. But as the world shuts down because of covid-19 and vacationers stay home, the land of smiles is gloomy. Travel and tourism, […]
Due to the coronavirus (COVID-19) epidemic, Thailand’s economy will contract significantly in 2020 and headline inflation will turn negative, the Bank of Thailand said in a press release. According to the latest data released by the Bank of Thailand, Thailand’s GDP could contract 5.3% in 2020, a sharp drop from its previous projections of 2.8% […]
The director of the Center for Economic and Trade Research for Reform at Rangsit University in Thailand, said if the US Federal Reserve cuts the policy rate by another 25 basis points this month, the baht could rise to 29 baht per year. one US dollar. Anusorn Tamajai said such a cut would put pressure […]
Advertising The Thai baht has been the best performing currency in Emerging Asia since 2018. Year over year, it has climbed more than 8% against the US dollar, and this year hit its highest level in six years. But according to headlines and comments, the hard currency has lowered the country’s competitiveness and worsened both […]
A foreign exchange bank teller counting Thai baht banknotes in Bangkok, Thailand. Getty Images The Thai baht has soared against the US dollar this year, far more than many other emerging market currencies. This strength, however, is causing concern as the country’s domestic economy weakens, analysts said. Since the start of this year, the Thai […]
BANGKOK – In a joint statement, three major trade associations cut their economic growth and export forecasts for Thailand for 2019 as the Thai baht continues to strengthen. The Federation of Thai Industries, the Thai Bankers Association and the Thailand Board of Trade reduced their growth estimate from 2.9% to 3.3%, from 3.7% to 4.0% […]
The baht has surged on Thailand’s $ 207 billion foreign exchange reserves, a current account surplus and a weak dollar triggered in part by the Federal Reserve’s recent conciliatory trend. An increase in the baht adds to the challenges facing Thailand’s trade-dependent economy this year. The baht’s rise of around 5% against the dollar over […]
The Trump administration appears to view currency manipulation primarily as an issue with China. But “money†is actually a much larger issue. Safer: Thailand Change rate Korea, Taiwan and Singapore all have larger current account surpluses, relative to their GDP, than China. All have intervened to limit the appreciation of their currency over the past […]
Advertising When Thai coup plotters quickly disbursed over $ 3 billion owed to farmers from the deposed government’s politically crippled rice price subsidy program, it appeared that the country’s new military rulers had the will and the means to break the bureaucratic inertia which had blocked budgetary expenditure under successive elections. administrative. A year later, […]
Farmer Pramote Kongburi inspects his dried rice field in Praek Siracha, Chainat province, Thailand, July 3, 2015. Dario Pignatelli | Bloomberg | Getty Images Thailand’s worst drought in a decade appears to have ended, but the damage could cast a shadow over the economy for months to come. “Thailand has moved from the land of […]