Developing Asia growth set to rebound to 7.3% in 2021 (ADB)

MANILA, PHILIPPINES (28 April 2021) — Economic growth in developing Asia is set to rebound to 7.3% this year, supported by a healthy global recovery and early progress on coronavirus disease (COVID-19) vaccines, according to a new report from the Asian Development Bank (ADB).

The projected resurgence follows a 0.2% contraction last year, according to ADB’s flagship economic publication, Asian Development Outlook (ADO) 2021, released today.

The region’s growth is forecast to moderate to 5.3% in 2022

Excluding the newly industrialized economies of Hong Kong, China; the Republic of Korea; Singapore; and Taipei,China, developing Asia’s economic activity is expected to grow 7.7% this year and 5.6% in 2022.

“Growth is gaining momentum across developing Asia, but renewed COVID-19 outbreaks pose a threat to recovery,” said ADB Chief Economist Yasuyuki Sawada.

“Economies in the region are on diverging paths. Their trajectories are sha…

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Thailand extends the 7,000 baht “Rao Chana” scheme to 33.5 million Thais

The Ministry of Finance, said today that the new proposal will increase the number of people eligible for the “Rao Chana” relief package to 33.5 million while raising the budget to 3 billion baht.

Under the scheme, each of the 33.5 million recipients will have 7,000 baht wired into their “Pao Tang” accounts in seven weekly instalments of 1,000 baht. The deadline extension until the end of June will also help to mitigate the impact of the new COVID-19 outbreak.

The Rao Chana scheme provides 7,000 baht in subsidies to each person registered as being affected by the COVID-19 situation.

The Ministry of Finance has clarified that the Rao Chana scheme is not accepting new applicants at this time, and the additional 3- billion-baht budget approved by the Cabinet is for funding the program which has been extended for another month.

The cabinet approved to extend the deadline for people to use the cash payments by one more month, from May 31 to…

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Thai fruit exports to FTA markets up 107 percent

BANGKOK (NNT) – Thailand’s fruit exports continue to increase, despite the sluggish global economy caused by the COVID-19 pandemic, with key trade partners being countries that have free trade agreements (FTAs) with the kingdom.

Thai durian, mangosteen, longan and mango are popular in China, Hong Kong and ASEAN member states.

Director-General of the Department of Trade Negotiations, Oramon Sapthaweetham, said Thai fruit exports, to 18 countries which have FTAs with Thailand, reported 107 percent growth in the first two months of 2021, compared to the same period of last year. The total trade value was US$461 million, accounting for 94.94 percent of the country’s total fruit exports.

China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian, mangosteen, longan and mango. Thai exporters are able to benefit from FTA privileges.

Currently, Tha…

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Will Thailand’s plan for quarantine-free tourism set a global trend?

As part of plans to stimulate a rebound in tourism, some countries have moved to waive compulsory quarantine for international travellers who have received a coronavirus vaccine.

In late March it was announced that, as of July 1, foreigners visiting the popular Thai holiday island of Phuket will be exempt from quarantine upon arrival if they have received two vaccine doses.

– As of July 1, vaccinated travellers to Phuket will be exempt from mandatory quarantine– The strategy is being combined with mass vaccinations to trigger a recovery in tourism– The plan could provide a blueprint for the successful resumption of international travel– Governments are increasingly looking towards travel bubbles and quarantine exemptions

Local officials also stated that after one week in Phuket without showing symptoms – and testing negative – tourists would then be able to travel to the rest of the country.

A significant turnaround in Thailand’s pandemic s…
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Asia-Pacific sees 3.9% growth in deal activity in February 2021

The Asia-Pacific (APAC) region saw a 3.9% month-on-month growth in deal activity (mergers & acquisitions, private equity and venture financing deals) from 1,126 deals to 1,170 deals in February 2021, according to GlobalData, a leading data and analytics company.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The COVID-19-hit 2020 remained a roller coaster ride for the global deal landscape and APAC was not an exception. The market conditions are expected to remain volatile as the fear of a second wave of COVID-19 in some of the key markets is likely to affect the investor sentiments.

“However, the growth witnessed in February, albeit bit slow, can be a positive sign for the revival of deal-making in the APAC region as investor cautiousness is likely to prevail for some more time.”

Aurojyoti Bose, Lead Analyst at GlobalData

An analysis of GlobalData’s Financial Deals Database reveals that the APAC markets such as India, Japan,…

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The 3 key barriers to remote working (and how to overcome them)

Following the real-world experiment with remote working, it’s time for business leaders to re-examine their previous misgivings, and explore how to adopt flexible working in the long term

“Remote working isn’t right for our business.”“We don’t have the technology to support people working elsewhere.”“Our employees will take advantage if they’re not in the office.”

Pre-pandemic, the above were just some of the reasons business leaders gave for not adopting remote work. Following the pandemic, those reasons don’t carry quite so much weight. COVID-19 created the world’s largest homeworking experiment and, for many, showed just how possible it was for employees to do their jobs without being at the office. 

However, if you’re still not convinced, perhaps it’s time to re-examine the barriers and look at how they could be overcome within your organisation.

1. The first barrier: Technology The pre-pandemic problem

A survey by The UK Work …

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MAI-listed companies continue to recover in H2/2020

BANGKOK, March 12, 2021 – Companies listed on Market for Alternative Investment(mai) reported combined sales of THB 166.88 billion (approx. USD 5.42 billion)in 2020, down 7.2 percent from a year earlier.

Their core operating profit rose 8.3 percent to THB 6.44 billion in 2020, while aggregate net profit declined63.0 percent to THB 3.37 billion due to COVID-19 pandemic impact. However, the recovery gathered steam in H2/2020.

– Operating profit up 8.3 pct to THB 6.44 billion– Total sales down 7.2 pct to THB 166.88 billion– Earnings of mai-listed firms continued to rebound in Q4/2020

mai President Prapan Charoenprawatt said that 169 mai-listed companies,representing 95 percent of the total 177 firms (excluding those in thenon-compliance group or NC, those using different accounting period, and thosenot submitting the report in time), submitted the 2020 financial reports, endedDecember 31, 2020. A total of 114 companies, accou…

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Thailand sends ‘Miss You’ message to the world

Bangkok, 11 March, 2021   – The Tourism Authority of Thailand (TAT) has launched its latest in a series of TVCs, with the new one ‘Miss You’ sending out an emotional message to people around the world that Thailand cannot wait to welcome everyone back in the not-too-distant-future.

The TVC, while conveying a message of how much Thailand misses international visitors, also pulls at the heart strings of any viewer who is longing to return and experience the people, culture, and beaches of Thailand once again.

It starts with images of a paper airplane flying into the sunset and over a sea of mist. That fades into a stunning sunset image over Phang Nga Bay before cutting to a sequence of azure seas, colourful coral reefs, and a yacht anchored offshore at sunset.

The Thailand nostalgia tour continues with an overhead drone shot of cyclists on a winding evergreen mountain road, a woman skipping through sunflower fields in full bloom, and a …

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Foreigners’ Participation in Thai Listed Companies explained

Similar to foreign business laws existing in most Asian countries, Thai laws have imposed restrictions on foreign ownership of Thai companies.

These restrictions are stipulated in the Foreign Business Act 1999 and specific laws governing certain sectors, e.g. the Banking Act, Insurance Act, and Land Act. In addition, some companies may choose to incorporate foreign ownership limit in their articles of association.

Special vehicles have been created to facilitate foreign investors so that they are able to invest in Thai securities flexibly and conveniently. 

In normal practice, foreign investors have to invest in securities designated for foreign investors on the foreign board to fully obtain all voting rights and financial benefits. In case that the foreign ownership limit has been reached and foreign investors cannot acquire securities designated for foreign investors, they may choose to trade in domestic liquidity pool by investing in se…

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