#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Ailing economy to get ‘Bt100bn injection’ from Oct-Dec

EconSep 25. 2020Deputy Prime Minister Supattanapong Punmeechaow 

By The Nation

Government stimulus schemes are expected to inject Bt100 billion into the economy in the last three months of this year, Deputy Prime Minister Supattanapong Punmeechaow told the Krungthep Turakit newspaper.

The Bt100-billion injection will come both from government spending and from people’s spending under three stimulus measures.

Under the first measure, 14 million welfare cardholders will receive an extra monthly discount of Bt500 from October to December on their shopping. The budget for this scheme is Bt21 billion.

Meanwhile under the “Kon La Khreung” (Let’s Go Halves) measure, 10 million people will get daily discounts of up to B100 on food, beverages and household essentials (not including alcohol, tobacco or lottery tickets). The subsidy is capped at Bt,3000 per person. 

The Cabinet has given the green light to both schemes.

Supattanapong said the third measure will serve wealthier citizens with tax incentives to encourage them to spend.

Meanwhile on Tuesday the Cabinet approved a budget of Bt19.5 billion to help the private sector hire 260,000 new graduates by paying half their salaries.

Supattanapong, who also serves as Energy Minister, predicted the economy would improve next year but said it might be two years before Thailand’s economic growth returns to its pre-coronavirus level.

He said the country’s existing budget would be enough to boost the economy provided there is no second wave of Covid-19. However, given uncertainty caused by the pandemic, the government stands ready to borrow more if necessary, since Thailand’s current debt is not high compared to other countries.

He added that the government was proceeding with utmost caution in budget spending in order to stay financially healthy in the post-outbreak era.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

BOT appoints new policy committee members

EconSep 25. 2020From left, Kanit Sangsubhan, Rapee Sucharitakul, Somchai Jitsuchon, and Subhak Sriwaraksa. 

By The Nation

The central bank on Thursday appointed new members to its Monetary Policy Committee (MPC) and Financial Institutions Policy Committee (FIPC).

Bank of Thailand secretary Pruettipong Srimachand said the new appointments will replace members whose terms are ending.

Their three-year tenures will start from November this year.

The four new members of the MPC are Kanit Sangsubhan, Rapee Sucharitakul,

Somchai Jitsuchon and Subhak Sriwaraksa.

The five new members of the FIPC are Kannika Ngamsopee, Chanant Charnchainarong, Pornchai Chunhachinda, Phawana Niemloy and Ayudh Kritsanamara.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Business registrations fall 7% in August

EconSep 25. 2020

By The Nation

The number of newly registered companies fell to 5,538 in August, down 7 per cent year on year and 2 per cent from July.

“Total share capital of companies registering their business in August was Bt14.31 billion,” said Department of Business Development deputy director-general Sorada Lertapachit.

Meanwhile a total of 1,337 companies closed in August, down 24 per cent year on year, but up 6 per cent compared to July.

“Combined share capital of companies that closed [in August] was Bt5.40 billion, down 81 per cent year on year from Bt23.52 billion,” she said.

In the Eastern Economic Corridor (EEC), 4,353 new companies registered from January to August, down 12.5 per cent year on year. The majority (3,087) were located in Chonburi province and most (60.63 per cent) were in the services sector – property, construction, and food – followed by retail and manufacturing businesses.

Foreign investors hold a combined 40.51 per cent stake in the new companies – dominated by Japan (48.19 per cent), China (11.11 per cent) and Singapore (5.46 per cent).

Most new foreign investment (52.97 per cent) was in Rayong province and focused on automotive parts manufacturing.

Investment was being boosted by government efforts to mitigate the Covid-19 impact, and growth of businesses meeting demand in the “new normal” era, Sorada said.

However, a second Covid-19 wave after the country reopens to foreign tourists next month would hit business and investor confidence, so the government should impose strict health screening for tourists, she added.

Reopening to tourists will benefit the service and tourism sectors, including transportation, accommodation, restaurants, and travel businesses, she said.

“Therefore, we expect business registrations to hit the target of 70,000 companies or 5,500 companies per month at the end of this year.”

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

SET sinks for fourth consecutive day amid lockdowns, delayed US stimulus

EconSep 24. 2020

By The Nation

The Stock Exchange of Thailand (SET) Index closed at 1,247.46 on Thursday, down 16.55 points or 1.31 per cent. Total transactions amounted to Bt56.23 billion with an index high of 1,260.31 and a low of 1,241.52.

In the morning session, an analyst at Krungsri Securities expected the day’s index to fall to 1,250 points after countries reimposed lockdown measures following a surge in Covid-19 cases.

“On Wednesday night [September 23], the US Purchasing Managers’ Index dropped to its lowest in two months, while the Dow Jones Index fell more than 525 points due to uncertainty over delayed rollout of US economic stimulus measures,” he said.

“The measures are stuck in Congress, while the market expects the stimulus rollout to be delayed until after the [November 3] presidential election,” he added.

The 10 stocks with the highest trade value today were AOT, PTT, KBANK, STGT, CPALL, GULF, CPF, TASCO, ADVANC and SAWAD.

As of 4.30pm, the price of oil dropped by US$0.29 or 0.73 per cent to $39.64 per barrel, while gold dropped by $13.50 or 0.72 per cent, to $1,854.90 per ounce.

Other Asian indices all fell:

Japan’s Nikkei Index closed at 23,087.82, down 258.67 points or 1.11 per cent.

China’s Shang Hai SE Composite Index closed at 3,223.18, down 56.53 points or 1.72 per cent, while the Shenzhen SE Component Index closed at 12,816.61, down 293.47 points or 2.24 per cent.

Hong Kong’s Hang Seng Index closed at 23,311.07, down 431.44 points or 1.82 per cent.

South Korea’s KOSPI Index closed at 2,272.70, down 60.54 points or 2.59 per cent.

Taiwan’s TAIEX Index closed at 12,264.38, down 319.50 points or 2.54 per cent.

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

Gold price drops from strengthening dollar, Covid-19 vaccine progress

EconSep 24. 2020

By The Nation

The price of gold dropped by Bt250 per baht weight in morning trade today (September 24), the Gold Traders Association reported.

As of 9.25am, the buying price of a gold bar was Bt27,800 per baht weight and selling price Bt27,900, while gold ornaments cost Bt27,303.16 and Bt28,400, respectively.

At close yesterday, the buying price of a gold bar was Bt28,050 per baht weight and selling price Bt28,150, while gold ornaments cost Bt27,545.72 and Bt28,650, respectively.

The Comex (Commodity Exchange) gold price to be delivered in December dropped by US$39.20, or 2.05 per cent, closing at $1,868.40 (Bt59,021.33) per ounce yesterday.

The gold price dropped below $1,900 per ounce last night due to the strengthening dollar, while progress in the development of a Covid-19 vaccine caused investors to reduce their holdings in the safe-haven asset.

The Hong Kong gold price dropped by HK$150, opening at $17,200 (Bt70,135.24) per tael this morning, the Chinese Gold and Silver Exchange Society reported.