The Stock Exchange of Thailand’s composite index will remain in an upward trend next year although it will fluctuate greatly in the first and second quarters, according to a leading securities analyst.
Sukij Udomsirikul , first vice president of Siam City Securities Co’s Research Division, projected the index would peak at 880 points and plunge to the lowest at 540 points in 2010. It is likely to stay at an average of 750 million. (More …)
Thailand’s stock market in November was affected by domestic negative factors including the suspension of Map Ta Phut Industrial projects and an unresolved political situation with the net selling of Bt 13 billion by foreign investors.
Thai shares fell 0.59 per cent Wednesday in a market awash with concerns over domestic politics and the global economy. The Stock Exchange of Thailand (SET) composite index lost 4.11 points to 694.71, while the blue-chip SET-50 index dropped 2.97 points to 487.39. (More …)
Thailand ko phi phi: Flickr.com
Thailand thus far has been included in many surveys and rankings conducted by various international organizations. Some of the released results can indeed bring fame to the nation in different areas despite the ongoing political instability and persisting street protests. However, some rankings have tarnished the national image and have warned the responsible authorities to fix the problem to put the country back on track.
In the beginning of June, the Political and Economic Risk Consultancy Co. Ltd (PERC) ranked Thailand third place in regards to efficiency of the public sector system in Asia, after Singapore and Hong Kong. Then, at the beginning of November, Thailand was ranked second for the world’s best value destination by the Lonely Planet in its ‘Best In Travel 2010’ guide as one of the cheapest long haul holidays for European tourists. At the end of November, Thailand won top honors in the November issue of Condé Nast Traveler Readers’ Choice Awards 2009 in several categories including the Top 100 list of hotels. (More …)
Money: Flickr.com
In order to have strong economic ties like the European Union (EU), ASEAN requires solidity among member states to overcome disparities and to build a single market and production base, according to a former member of the European Parliament.
Dr Christoph Konrad, former Member of the European Parliament and designated Secretary-General to the SME Union of the European’s People Party, said that solidarity was the headline of the integration process in the EU.
Solidarity was a good investment for the future of both the country itself and the region. “No matter how big a country is, richer countries always pay for poorer countries. We all know that if our neighbor country is successful, then we are too”, Dr Konrad said.
However, before lending a hand to other countries, each country should check their own strengths and weaknesses to ensure sustainable development.
Dr Konrad said that the ASEAN could take the EU as an example for its patience. The EU has taken over 50 years to build a single market and community. (More …)
Photo: skyscrapercity.com
Following the plan by public and private agencies to enlarge Phuket International Airport, Thailand’s second largest airport after Bangkok’s Suvarnabhumi, for passenger comfort and improved facilities, the airline business is showing every sign of going well, especially when a number of air carriers are moving forward with their proactive marketing strategies for the upcoming tourism season of the Andaman coastline.
Thai AirAsia, the Thai subsidiary of Malaysia-based low-cost carrier AirAsia, has designated Phuket as its second hub linking the new routes flying from and to the province, while it has launched additional charter flights servicing Phuket-Hong Kong, Phuket-Singapore, and Phuket-Indonesia’s Medan routes. (More …)
The decoration of Dubai airport is dazzling: Flickr.com
The Bank of Thailand (BOT) asked Thai citizens not to panic with Dong depreciation and the Dubai Crisis.
Deputy Governor of BOT Achana Waikuamdee stated that the Dubai World’s debt repayment adjournment would slightly affect the Thai economy as the number of Thai investments in Dubai were rather low. While the weakening of the Vietnam Dong would not cause a great impact on the Thai economy as Thailand used US dollars in the global trade and investment. (More …)
The Business Bay Executive Towers in Dubai Metropolis: Flickr.com
Dubai economic fallout would not affect trading between Thailand and Dubai, according to the Director of the Center for Economic and Business Forecasting (CEBF) of the University of the Thai Chamber of Commerce, Mr. Thanavath Phonvichai.
Mr Thanavath stated that the case of the Dubai World, the main investment company in Dubai,which requested the rescheduling of payments of US$59 billion (2.1 trillion baht) in debts last Friday had to be closely monitored during these two weeks although a clear process had been announced by Dubai government. However, he also said that the situation would depend on the central government of United Arab Emirates (UAE), adding the rescheduling of debt payment could affect the world stock market and gold price worldwide. Additionally, he believed that a clearer operation would bring back a normal situation in Dubai and global countries. (More …)
The economy next year will be improving but will yield no benefits to the infrastructure development of the country if the management of the government remains poor, according to Kasikorn Bank CEO, Bantoon Lamsam.
Mr Bantoon believed that the national economy next year would improve, particularly the Thai exports sector, while financial institutions remain stable and can move forward with the economic revival.
The CEO however admitted that the national infrastructure management in educational, legal, and communication aspects had not received enough attention from the public sector. He deemed that the Strong Thailand scheme of the government was only a temporary solution for short-term economic stimulation, and there had been no projects for infrastructure development. (More …)
Kunming Communist Party Secretary, Mr Qiu He and the permanent committee of Yunnan Communist Party of China yesterday paid courtesy calls to Prime Minister Abhisit Vejjajiva at Government House. The visit was aimed to strengthen trade and investment relations between Thailand and China as well as China and all ASEAN countries.
China values Thailand as the country’s economic partner, according to Mr Qiu He. Thailand-China were praised for their bilateral relations. Mr Abhisit stated that the Thai government has a plan to extend economic relations with China. The plan specifically focuses on manipulating one- on-one province relationships. The government has also considered setting up a group of Thai representatives in Guangdong to enhance both countries’ problem-solving cooperation. (More …)
Thai Airways: picasaweb.google.com
President of Thai Airways Piyasawat Amaranand has expressed his concerns over the political turmoil that could negatively impact the airline and tourism business.
Mr Piyasawat stated that the airline business is doing well in the fourth quarter of this year and will continue to improve in 2010 as a result of the global economic recovery. However, if the United Front of Democracy against Dictatorship (UDD) mass rally stopped their movement, the airline and tourism businesses might not be affected by next year. He also said that the opening of new air routes were currently unnecessary, but the flight frequency strategy would be adapted in efficient routes, for the full potential of Thai Airways‘ operation. (More …)
