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By GREG LOWE IN BANGKOK THAILAND will extend a lifeline to small and medium-size enterprises (SMEs) and export-related businesses through an eight billion baht (S$347 million) loan insurance scheme. Industry and economists have welcomed the anti-recession initiative but say more must be done to boost productivity and win support from commercial banks.

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The global recession and the fallout from last year’s astronomic oil prices have forced the Scandinavian national carrier SAS to restructure, shedding some 3,000 staff from its payroll. Despite the cutbacks, the company maintains its commitment to making air travel greener and has no plans to downsize locally, says Bangkok-based Hakan Olsson, the company’s director […]

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By GREG LOWE IN BANGKOK PLUMMETING exports saw traffic through Thailand’s prime cargo port continue to decline last month, painting a dim picture for the country’s shipping industry this year. Experts warn that cargo volumes may decline by up to 25 per cent this quarter and 10 per cent over the year. Laem Chabang deep […]

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By GREG LOWE IN BANGKOK DOMESTIC political unrest dealt a severe blow to Thai business sentiment, driving it to an all-time low last month, recent reports reveal. Surveys published in January show local confidence is eroding faster than in other regional markets. And the Industries Sentiment Index plunged to 62.9 per cent in December – […]

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By GREG LOWE IN BANGKOK THAI banks face a deteriorating outlook for this year, despite having shown resilience against the effects of the global slowdown last year, but the worst is yet to come, according to analysts. Lower provisioning and higher loans growth saw Thailand’s banking system report higher average return on assets (ROA) of […]

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By GREG LOWE IN BANGKOK THAILAND’S domestic auto sales are expected to plunge another 15.4 per cent this year, says the country’s biggest car maker. But industry observers reckon the decline could be worse. While the country’s economic fundamentals remain sound and its low-car ownership rate offers strong sales opportunities, the effects of the global […]

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By GREG LOWE IN BANGKOK ECONOMISTS lambasted the Thai government’s 115 billion baht (S$4.9 billion) fiscal stimulus package for being populist and insufficient to revive the country’s failing economy, when it was announced last week. Prime Minister Abhisit Vejjajiva defended the 18-project supplementary spending budget, which includes 19 billion baht in one-time handouts to low-income […]

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By GREG LOWE IN BANGKOK THAILAND’S central bank yesterday slashed its key interest rate by 75 basis points, in line with market expectations, to offset the effects of the global downturn on an increasingly sluggish domestic economy. And a further rate cut is expected soon. The Bank of Thailand’s monetary policy committee (MPC) reduced its […]

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Political stability must be achieved before any government initiatives to stimulate Thailand´s flagging residential property market will be able to restore confidence, according to industry chiefs and analysts. Extending the current tax breaks for developers and buyers may take the sting out of any downturn but will fall far short of its target without more […]

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Street-side is where it’s at for lovers of authentic Thai dishes, but eating like a local calls for knowledge only a Bangkok insider can supply. GREG LOWE serves up a street food primer Along with smiles, temples and beaches, Thailand’s food has to be considered a marquee attraction. And while this ?ery form of culinary […]

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