Thailand's cabinet gave its approval on Tuesday for Vitai Ratanakorn to take over as the next central bank governor and revive an economy in the doldrums with limited monetary policy room to work with, Reuters reported. The appointment of Vitai, 54, the president and CEO of the Government Savings Bank, would be subject to royal approval before he starts a five-year term on October 1. He was picked over central bank veteran and deputy governor Roong Mallikamas. Vitai would succeed Sethaput Suthiwartnarueput, who has reached retirement age.
Read more
Thailand is considering offering zero tariffs on more U.S. imports, the finance minister said on Monday, Reuters reported. The government is also preparing 200 billion baht ($6.1 billion) worth of soft loans to ease the impact of tariffs, Finance Minister Pichai Chunhavajira told a business seminar. Thailand faces a 36% tariff from Washington if a deal cannot be reached before August 1.
Read more.
Read more
Thai Airways International could exercise an existing option to buy more planes from U.S. planemaker Boeing as part of Thailand's tariff negotiations with the United States, CEO Chai Eamsiri told a Reuters NEXT Asia summit on Wednesday, Reuters reported. The flag carrier in February last year said it had ordered 45 Boeing 787-9 wide-body jets with options for a further 35. Thailand has submitted a new trade proposal to the U.S. in a bid to avoid steep tariff hikes on its own products.
Thailand’s central bank held interest rates steady amid renewed political tensions at home and growing uncertainty abroad, the Wall Street Journal reported. The Bank of Thailand’s monetary policy committee voted six to one to maintain its policy rate at 1.75%, following two consecutive cuts. One member voted in favor of easing. Noting that its previous cuts have “already provided some cushion against the prevailing risks,” the central bank highlighted risks related to U.S.
Read more
Thailand’s central bank makes its rate decision on Wednesday against a tense backdrop marked by political tension at home and uncertainty abroad, the Wall Street Journal reported. The exit of the second-largest party in Thailand’s ruling coalition has left Prime Minister Paetongtarn Shinawatra’s Pheu Thai Party hanging by a thread, amid calls for her resignation, analysts say. “Political uncertainty now casts a pall on an already weak economy,” Vishnu Varathan of Mizuho Securities said in a note, adding that it exacerbates the threat posed by ongoing tariff-related tensions.
Read more
Thailand has reached a major aviation milestone as Thai Airways International triumphantly exits its court-supervised debt restructuring program after four challenging years, following official approval from the Central Bankruptcy Court in Bangkok, Travel and Tour News reported. This crucial court decision not only restores the national carrier’s financial stability but also paves the way for the resumption of trading on the stock market, renewed investor confidence, and Thailand’s strengthened position in the global aviation industry.
Thailand's economy is expected to encounter temporary "air pockets" due to the impact of tariffs, the finance minister said on Thursday, and the country plans to negotiate to align its tariffs more closely with those of its trade competitors, Reuters reported. "No matter how much the tariff will end up, if it is at an equal level and equal to our competitors, it will not affect us," Pichai Chunhavajira said at a ministry event. "With our proposal, we should be at a point where we would get what we want," he added.
Thailand is among Southeast Asian nations hardest hit by U.S.
Read more
The Thai central bank cut its benchmark rate and flagged the possibility of slower economic growth, as ongoing global uncertainties cloud the Southeast Asian nation’s outlook, the Wall Street Journal reported. The Bank of Thailand’s monetary policy committee voted 5-2 on Wednesday to lower the policy rate to 1.75% from 2.00%, with two members voting to hold rates steady.
Read more
Thailand will increase U.S. imports, lower some of the higher taxes on American goods and address non-tariff barriers, the finance minister said on Tuesday, as the government seeks to negotiate a better deal on new U.S. tariffs, Reuters reported. The tariff of 36% imposed on Southeast Asia's second-largest economy is among the higher rates imposed by the administration of U.S. President Donald Trump, greater than officials had anticipated.
Read more
A Thai business group on Thursday urged Prime Minister Paetongtarn Shinawatra to negotiate with the United States and consider lowering import taxes on U.S. goods, as the government met with the private sector to discuss U.S. trade policy, Reuters reported. The meeting comes ahead of a deadline U.S. President Donald Trump has set next month for federal agencies to complete comprehensive reviews of a range of trade issues, including analyses of persistent U.S. trade deficits.
Read more