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https://www.nationthailand.com/business/40012844

The baht opened at 32.73 to the US dollar on Monday, weakening from Friday’s close of 32.48.

The Thai currency is expected to move between 32.60 and 32.80 during the day and between 32.00 and 32.90 during the week, Krungthai Bank forecast.

Krungthai said that the baht is likely to weaken if the market enters a risk-off state due to a worsening in the Ukraine-Russia situation.

However, any weakening of the baht would be limited because it is supported by gold selling. 

Meanwhile, foreign investors expect the baht to strengthen on the back of Thailand’s economic and tourism recovery, with some international financial institutions predicting it will rise to 30.50-31/dollar by the end of the year.

Krungthai explained that orders from importers and exporters coupled with poor liquidity were causing the baht to fluctuate and swing sideways in a wider range.

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It said that the key support level is 32/dollar, at which point importers would buy dollars and foreign investors would sell. The bank expects exporters to sell the dollar when the baht reaches the key resistance level of between 32.80 and 32.90.

It added that the dollar was supported by uncertainty over the Ukraine-Russia crisis, which was causing investors to hold on to US currency. Meanwhile the dollar would gain more support if the US Federal Reserve raises the interest rate again this year.

Published : February 28, 2022

By : THE NATION

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https://www.nationthailand.com/business/40012841

The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,665 and 1,690 points on Monday amid tensions between Russia and Ukraine, Krungsri Securities said.

It cited the removal of Russia’s central bank from the Swift international payments system.

Moscow had also ordered Russia’s nuclear weapons on standby to confront Nato, Krungsri Securities added.

However, it predicted that mass buy-ups of energy shares in line with the rising oil price would help boost the SET Index.

It also advised investors to follow the US Federal Reserve’s monetary policy and its review of the US economy on March 2-3.

It recommends the purchase of the following as an investment strategy:

• PTTEP, TOP, SPRC and BCP will benefit from the rising price of oil and gross refining margin.

• BDMS, INTUCH, ADVANC and DTAC, which are defensive stocks.

The SET Index closed at 1,679.90 on Friday, up 17.18 points or 1.03 per cent. Transactions totalled 87.77 billion baht with an index high of 1,684.50 and a low of 1,670.13.

Published : February 28, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012829

The government and private agencies are taking steps to manage fruit harvests from March onwards in a bid to tackle oversupply and dropping prices.

Chantanon Wannakhajorn, secretary-general of the Office of Agricultural Economics, said the agency’s teams have devised management plans by surveying farmers, exporters, cooperatives, processing factories and demand at shopping malls. He said the aim is to achieve a balance between demand and supply.

Chantanon added that the Commerce Ministry will try to maintain stability in distribution by seeking new foreign markets, promoting exports and preventing a glut in border areas.

“Government and private agencies, along with farmers, will cooperate in product management and quality control in line with Good Agricultural Practices and on measures to curb the spread of Covid-19 in fruit plantations,” he said.

“They will also set up a war room to monitor the situation, including production volumes and selling price.”

Separately, he said, agencies have set up a harvesting schedule for durian in a bid to control the drop in prices.

The harvest schedule for the four varieties of durian has been set as follows: Kradum on March 20, Chanee and Puangmanee on April 10 and Monthong on April 25.

“Durian farmers and harvesting contractors must inform their district agriculture offices if they want to harvest durian earlier than scheduled,” he added.

According to the working group on fruit information systems and logistics development in the East of Thailand, the provinces of Rayong, Chanthaburi and Trat are expected to produce 1.18 million tonnes of durian, mangosteen, rambutan and longkong (langsat) this year, up 32 per cent from the previous year.

“This is all thanks to cool weather and isolated rains between December and January,” the working group said. “Fruits will be harvested until mid-September, and an oversupply can be expected in May.”

Alongkorn Ponlaboot, adviser to the agriculture and cooperatives minister, said several measures have been implemented, including the inspection of plantations, helping businesses and farmers with fruit distribution and boosting the liquidity of fruit exporters.

“These measures will help stimulate the fruit market amid uncertainties over the Covid-19 crisis,” he said.

Published : February 27, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012804

The Dow Jones Industrial Average jumped 834.92 points, or 2.51 percent, to 34,058.75, notching its best daily gain since November 2020.

U.S. stocks surged on Friday with the Dow logging its best day in over a year, as Wall Street closely followed updates on the Russia-Ukraine tensions.

The Dow Jones Industrial Average jumped 834.92 points, or 2.51 percent, to 34,058.75, notching its best daily gain since November 2020. The S&P 500 rose 95.95 points, or 2.24 percent, to 4,384.65. The Nasdaq Composite Index increased 221.03 points, or 1.64 percent, to 13,694.62.

All the 11 primary S&P 500 sectors closed noticeably higher, with materials and financials up 3.58 percent and 3.16 percent, respectively, leading the gains.

U.S.-listed Chinese companies traded mostly higher with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on an upbeat note.

The Ukraine issue remains a focus on Wall Street.

Russian President Vladimir Putin is ready to send a Russian delegation to the Belarusian capital of Minsk for negotiations with Ukraine, Kremlin spokesman Dmitry Peskov said Friday.

Russian Foreign Minister Sergei Lavrov on Friday told a briefing that his country has no plan to occupy Ukraine and Moscow is ready to hold negotiations straight after the Ukrainian forces “lay down their arms.”

Investors also assessed Western sanctions against Russia and the U.S. Federal Reserve’s next policy move.

For the week, the Dow dipped 0,06 percent, while the S&P 500 and the tech-heavy Nasdaq climbed 0.8 percent and 1.1 percent, respectively.

Published : February 26, 2022

By : Xinhua

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012803

“The conflict is also having a serious economic impact, which will worsen the longer it continues,” IMF Managing Director Kristalina Georgieva said.

International Monetary Fund (IMF) Managing Director Kristalina Georgieva said Friday this week’s events in Ukraine are “a matter of grave concern,” warning that the repercussions of the conflict pose “significant economic risks” in the region and around the world.

“This week’s events in Ukraine are a matter of grave concern – first and foremost due to the human toll and suffering of ordinary people,” Georgieva said in a statement.

“The conflict is also having a serious economic impact, which will worsen the longer it continues,” she said, noting that this crisis comes at a “delicate” time, when the global economy is recovering from the ravages of the COVID-19 pandemic, and “threatens to undo some of that progress.”

The IMF chief said she met earlier in the day with IMF Executive Board to brief Executive Directors on the initial assessment of the unfolding situation, and as the situation in Ukraine evolves, the multilateral lender will continue to discuss with the authorities how it can best assist them.

In addition to ongoing policy advice, the IMF is exploring all options for further financial support, including under the existing Stand-By Arrangement – IMF’s workhorse lending instrument for emerging and advanced market countries- for an outstanding amount of 2.2 billion U.S. dollars, Georgieva said, adding that the authorities have also requested IMF emergency financing.

“We are assessing the potential (economic) implications, including for the functioning of the financial system, commodity markets, and the direct impact on countries with economic ties to the region,” she said.

“We will also continue to work hand in hand with the World Bank Group and other partners to coordinate our support and ensure the maximum benefit for Ukraine,” she added.

Published : February 26, 2022

By : Xinhua

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012794

A total of 39.76 million Thais have registered for economic stimulus schemes in 2022, spending around 45 billion baht, according to the Finance Ministry.

The government has launched additional phases for three Covid-hardship subsidy schemes this year, the ministry’s Fiscal Policy Office (FPO) director Pornchai Teerawet said.

Phase four of the project to boost the purchasing power of state welfare cardholders has drawn 12.94 million users who have spent Bt2.58 billion.

Phase two of the project for vulnerable people requiring special assistance has attracted 1.13 million users and spending of Bt224.25 million.

Meanwhile phase four of the “Khon La Khrueng” (Let’s Go Halves) scheme has drawn 25.69 million users spending a total of Bt42.588 billion – 25.02 million old users (Bt41.974 billion) and 671,000 new users (Bt613.8 million).

Meanwhile, around 23,800 new vendors joined Khon La Khrueng, taking the total to 1.35 million.

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Data for the co-payment scheme this year shows Bt17.395 billion was spent at food and drink stores, Bt7.468 billion at Blue Flag stores, Bt1.910 billion at OTOP stores, Bt14.997 billion at general stores, Bt741.4 million for services, and Bt75.2 million for public transport.

Notable was the whopping Bt1.203 billion spent on food delivery platforms, with around 91,600 food outlets joining the scheme.

Registrants can spend under these schemes until April 30.

Meanwhile, 2.9 million original registrants for Khon La Khrueng were reminded to start using the scheme before 10.59pm on February 28 or they will lose their rights under the fourth phase.

Published : February 26, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012791

The Finance Ministry is launching measures to counter disruption to Thailand’s Bt3-billion trade with Russia and Ukraine caused by the outbreak of conflict between the two neighbouring countries.

The ministry’s Fiscal Policy Office has been tasked with analysing the situation, predicting impacts for the Thai and global economies, and drafting response measures, finance permanent secretary Krisada Chinavicharana said on Friday.

Thailand is reliant on imports of Russian fuel, aerospace parts and tourists.

“The conflict may result in higher prices for products and fuel, rising inflation and fluctuation in the currency exchange rate. These are the aspects that the measures to be issued by Fiscal Policy Office will need to cover,” Krisada said.

Bilateral trade between Thailand and Russia rose 12.84 per cent to US$2.78 billion last year, according to the Commerce Ministry. Thai exports to Russia accounted for $1.03 billion, while imports stood at $1.75 billion.

Thailand’s trade with Ukraine, meanwhile, rose 5.56 per cent to $386.47 million in 2021. Thai exports to Ukraine were worth $134.76 million and imports $251.71 million.

Krisada said Thailand would also examine the long-term impact on Thai tourism, as the conflict could hit overseas travel by Russians and Europeans, who are core target groups for Thailand.

The Thai tourism industry might have to switch focus to other markets if the conflict drags on, he added.

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Flights from Thailand not affected by Russia-Ukraine conflict

Published : February 26, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012767

The Commerce Ministry is closely monitoring the Russia-Ukraine conflict to ensure it has a minimal impact on Thai exporters, an adviser to the commerce minister said on Friday.

Mallika Boonmeetrakul Mahasuk said Commerce Minister Jurin Laksanawisit has instructed his ministry to keep a close eye on the situation and prepare a contingency plan to help exporters to the two countries.

She added that the Department of International Trade Promotion (DITP) is also watching to see how the situation will affect logistics in the two countries and will provide updates via both online and offline channels.

Both Russia and Ukraine are big export markets for Thailand.

The DITP will also compile a list of logistics companies that specialise in Russia and the Commonwealth of Independent States, so exporters can use their services if the situation has an impact on their exports.

Mallika said the DITP office in Moscow is keeping an eye on the situation and will provide regular updates.

Bilateral trade between Thailand and Russia in 2021 was valued at US$2.78 billion, marking a 12.84 per cent increase compared to the previous year. Thailand’s exports to Russia accounted for $1.03 billion, while imports stood at $1.75 billion.

Trade between Thailand and Ukraine, meanwhile, stood at $386.47 million in 2021, marking a growth of 25.56 per cent compared to the previous year. Thailand’s exports to Ukraine were worth $134.76 million and imports $251.71 million.

Published : February 25, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/40012760

The Bank of Thailand is expected to raise its 2022 inflation forecast from 1.7 per cent to between 2 and 3 per cent, a senior official said.

Sakkapop Panyanukul, BOT’s director of Economics and Policy, said the raise was due to drastic changes in the economic situation. He cited the 20 per cent increase in global oil prices plus the rising cost of pork.

“As a result, the BOT estimates inflation may rise above 2 per cent,” Sakkapop said.

He added that it could exceed 3 per cent during the first half of 2022 but inflation would remain within that target for the year overall.

January’s inflation rose to 3.2 per cent due to price increases for oil and pork, he added.

The price of oil has since risen further following Russia’s invasion of Ukraine and retaliatory measures taken by many countries.

On the economy, the BOT expects Thai GDP to exceed its initial projection of 3.4 per cent in 2022, Sakkapop said.

He added that the bank would wait for March’s economic figures before revising its GDP projection.

At the current rate of expansion, Thailand would return to pre-Covid-19 levels of growth by early 2023 or late this year, he said. However, that recovery would be slower in certain industries, including textiles-clothing and hospitality, which are short of around one million workers following the Covid-19 crisis, Sakkapop said.

However, the economy was on an upwards trajectory after rebounding from 6.1 per cent contraction in 2020 to 1.6 per cent growth in 2021, he added.

He said that 2021’s growth was driven by exports expanding by 125 per cent.

But Thailand’s economy would take a year longer to recover than many others due to its high dependence on tourism, which constitutes up to 12 per cent of the country’s GDP, Sakkapop explained.

He said the BOT is helping businesses by keeping its policy rate at a historic low of 0.50 per cent and by encouraging banks to restructure firms’ debts.

He said the debt restructuring policy saw commercial bank loans grow by 6.5 per cent but non-performing loans stay low at 3 per cent.

Published : February 25, 2022

By : THE NATION

#SootinClaimon.Com : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/pr-news/business/40012755

The Stock Exchange of Thailand (SET) opens a bridge between the social and business sectors with “Social Business Matching Day: The Impact Opportunity #1” on Friday.

The event allows social enterprises (SEs) to present their business plans for tackling issues to SET-listed companies, tapping their resources and experience. It runs at Neramitkaset Park in Bangkok’s Lat Phrao district.

SET president Pakorn Peetathawatchai said the SET Social Impact Platform is linking the two sectors to solve social and environmental problems.

He said the Social Business Matching Day would “magnify social impacts exponentially by expanding the Business Co-Creation network of business sector and SEs”.

The initiative is part of the bourse’s push for sustainable development, prioritising ESG – environmental, social and governance (ESG) management, the SET said.

Listed companies and business sectors are now embracing ESG practice across supply chains and deepening collaboration with the social sector in environmental and social stewardship, it added.

The SET said social entrepreneurs are next-generation businesspeople who seek sustainable solutions for society via business mechanisms.

Social entrepreneurs at the growth stage will present their plans for solving problems and developing society to interested business organisations, including listed companies, educational institutions and others.

The growth-stage entrepreneurs can create concrete social benefits in the areas of agricultural development, the environment and innovative services for elderly people, the SET said.

The fair is expected to result in business matches for least 30 per cent of participants.

Follow the projects that support social enterprises at www.setsocialimpact.com.

Published : February 25, 2022

By : THE NATION