Daily Highlights Week 30 (20-24 July 2020)

24 July 2020

‘Nordics to flirt with record recessions in 2020, bounce back in 2021: Reuters poll’

Source: https://www.reuters.com/article/us-nordics-economy/nordics-to-flirt-with-record-recessions-in-2020-bounce-back-in-2021-reuters-poll-idUSKCN24P0MK

Did Sweden’s coronavirus strategy succeed or fail?

Source : https://www.bbc.com/news/world-europe-53498133

Auto production is expected to recover in the second half of this year

Source : https://www.nationthailand.com/business/30391870?utm_source=category&utm_medium=internal_referral&fbclid=IwAR2IekWavl4_KPrlEX5YCs43-PjT10CMy1l7LnuCXlr8DBoXUU-FNhTwDWM

Equities still shine despite economic uncertainty

Despite the economic uncertainty, equities still tend to offer higher return than bonds or deposit accounts due to low global interest rate and progress on the Covid-19 vaccine.

Source : https://www.bangkokpost.com/business/1956575/equities-still-shine-despite-economic-uncertainty

BOT to relax conditions on Bt500bn SME loan scheme

Bank of Thailand (BOT) is considering the new plan offering 100 billion baht in loans at 0.01 per cent interest rate to banks, to relend to SMEs at an interest rate of 2 per cent over three years.

Source : https://www.nationthailand.com/business/30391830?utm_source=category&utm_medium=internal_referral

23 July 2020

DGTI seeks to support digital state

The Digital Government Technology & Innovation Center (DGTI) was launched on Wednesday to match digital innovation developers with government agencies exploring technologies that would boost their services.

Source: https://www.bangkokpost.com/business/1955975/dgti-seeks-to-bolster-digital-state

CAAT expects the sector to recover in the fourth quarter

The Civil Aviation Authority of Thailand (CAAT) has estimated that the aviation industry will see recovery in the fourth quarter, which is during the high tourist season.

Source: https://www.nationthailand.com/business/30391795?utm_source=category&utm_medium=internal_referral

Travel rules should be more consistent

The World Travel and Tourism Council (WTTC) has called on all European heads of state to harmonise travel rules and border requirements to reduce travellers’ confusion.

Source: https://www.bangkokpost.com/travel/1956359/covid-19-rules-confuse-travellers?cx_placement=underbox#cxrecs_s

Thailand as a star player in Covid-19 success story documentary

Thailand and New Zealand have been chosen by the World Health Organization (WHO) for a documentary about the success in containing Covid-19.

Source: https://www.bangkokpost.com/thailand/general/1955827/thailand-to-be-star-player-in-covid-success-story-doco

Phuket is proposing a medical tourism project

Phuket is seeking to elevate medical tourism under a total budget of 3 billion baht.

Source: https://www.bangkokpost.com/business/1955851/phuket-set-to-launch-b3bn-medical-plan

New business registration rose in June

Higher business registration in June is due to increased confidence following the easing of lockdown measures.

Source: https://www.bangkokpost.com/business/1955947/business-registrations-up-in-june

22 July 2020

Cabinet boosts weekday tourism vouchers to 900 baht per day

In a bid to stimulate domestic travelling between Mondays and Thursdays, the Cabinet has announced that it would raise the value of weekday accommodation vouchers from 600 baht to 900 baht per day.

Source: https://www.nationthailand.com/news/30391712

Board of Investment’s New Campaign Highlights Thailand’s Resilience

The Board of Investment of Thailand has revealed its new 2020 campaign called ‘Think Resilience, Think Thailand’ to showcase the nation’s strength in controlling the spread of Covid-19 and strengthen its position as the key investment destination of South East Asia.

Source: https://www.nationthailand.com/recommended/959

Thailand’s exports are forecast to drop by 8-10% this year

Source: https://www.bangkokpost.com/business/1955647/exim-bank-downgrades-export-outlook

Prices of gold reached a nine-year high on Tuesday

Source: https://www.bangkokpost.com/business/1955315/gold-approaches-9-year-peak

More than 30% of Thailand’s tourism-related operators left the market

Source: https://www.bangkokpost.com/business/1955403/tourism-council-of-thailand-warns-of-operators-fleeing-sector

Thailand’s employment recovery struggles in the second half of 2020

Source: https://www.bangkokpost.com/business/1955283/dim-prospects-for-employment-recovery-in-latter-half

Visa amnesty extended until 26 September

The Cabinet has announced on Tuesday that it has extended visa amnesty for foreigners in Thailand for the second time until 26 September, as the current automatic extension of stay is due to expire on 31 July.

Source (in Thai): https://www.thaigov.go.th/news/contents/details/33560

CCSA asked to extend emergency decree by a month

The Centre for Covid-19 Situation Administration (CCSA) was recommended on Wednesday to extend the emergency decree by another month, as the current decree will end on 31 July.

According to Gen Natthaphol, the decree needs to be extended in consideration of two recent Covid-19 cases involving an Egyptian soldier and a Thai girl returning from Sudan, and also to keep tight control of the pandemic as schools have reopened since the beginning of July.

Source: https://www.bangkokpost.com/thailand/politics/1955279/ccsa-asked-to-extend-emergency-by-a-month

21 July 2020

SET Index rises over positive Covid-19 vaccine news, crude oil price

Krungsri Securities expected that the index will rise to 1,370 resulted from good news on an Oxford-AstraZeneca Covid-19 vaccine progress and the rise of crude oil price. However, the increase in non-performing loans of the banks and the number of Covid-19 cases will also add pressure to the index

Source : https://www.nationthailand.com/business/30391672?utm_source=category&utm_medium=internal_referral&fbclid=IwAR3Bofe_Y2VKSeVp98zb6rnTaltzRiqZF4KTsZTKeLpVXb3G4WfJwcHcF3w

Oxford-AstraZeneca Covid-19 vaccine gives an encouraging response.

Scientists said that more than 1,000 people participating in trials have an increase in antibodies and T-cell response which is a very good sign. They will conduct a further follow-up study in 4 or 5 trial sites in the UK and USA with 50,000 participants in the next few weeks.

Source : https://www.npr.org/sections/health-shots/2020/07/20/893211400/early-oxford-astrazeneca-coronavirus-vaccine-data-encouraging-scientists-say

Thailand Tech Startup Association (TTSA) called the government for support.

In order for local startups to remain competitive, the TTSA suggested that the government could promote the use of services provided by local startups rather than foreign platforms and provide tax incentives and adequate financial resources.

Source : https://www.bangkokpost.com/business/1954875/ttsa-seeks-support-for-startups

Pay for your stay: alternative accommodation for quarantine

The Centre for Covid-19 Situation Administration (CCSA) announced that the Thai Government will increase the quota of Thai returnees from 200 to 600 per day. The CCSA will also encourage those who can afford to stay in alternative accommodation i.e. upscale hotels, which will help reduce the government costs on state quarantine.

Source : https://www.bangkokpost.com/thailand/general/1954575/pay-for-your-stay-says-ccsa

20 July 2020

Tackling the hunger problem

Hunger problem is becoming so severe across Asia that the governments need to invest more in social protection programs. In the long term, this can address food security.

Source: https://www.bangkokpost.com/business/1954195/tackling-the-hunger-challenge

Most credit card holders back making repayments

Most credit card holders who had opted for three-month debt suspension are now beginning to pay off their debts as usual.

Source: https://www.nationthailand.com/business/30391537?utm_source=category&utm_medium=internal_referral

The 6th phase of Covid-19 easing

The Centre for Covid-19 Situation Administration (CCSA) is going to consider the 6th phase of Covid-19 easing this week. There are five groups of foreigners and migrant workers that are expected to be allowed to enter the country.

Source: https://www.bangkokpost.com/thailand/general/1954051/foreigners-migrant-staff-influx

Room rates rise following tourism stimulus announced

The government has warned all hotels in the tourism stimulus campaign Rao Tiew Duay Kan not to increase their room rates.

Source: https://www.bangkokpost.com/business/1954043/room-rates-rise-after-tourism-stimulus-announced


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