APAC region records 119% QoQ growth in M&A deal value in Q2 2022

India, Australia and China were the top three countries when measured in terms of M&A deal value in Q2, with India accounting for half of the top 20 deals. South Korea, Indonesia, Malaysia, and Japan were the next top countries that contributed to a surge in M&A deal value. Read the rest of APAC region records 119% QoQ growth in M&A deal value in Q2 2022 on Thailand Business News
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SET invests in Singapore-based end-to-end digital securities platform ADDX

The investment is to gain knowledge from and share experience with experts to advance the Thai digital asset market, and expand business of market participants in the capital market for mutual growth. Read the rest of SET invests in Singapore-based end-to-end digital securities platform ADDX on Thailand Business News
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Thailand could Earn $3.4 Billion with Digital and Circular Economy says World Bank

The financial institution said in a statement that Thailand, a $544 billion economy before the pandemic hit, needs an innovation-led growth model. It added that the Kingdom needs to address existing foreign investment constraints in order to create better jobs and become a high-income nation. Read the rest of Thailand could Earn $3.4 Billion with Digital and Circular Economy says World Bank on Thailand Business News
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Omicron key risk to Thailand’s economic recovery

Thailand’s outbreak of the Omicron coronavirus variant could have a bigger impact than expected on an economic recovery, according to the Bank of Thailand latest last policy meeting.

According to the Ministry of Public Health, the country is entering a new wave of COVID-19 infections, following the long New Year holidays, with over 2,000 cases of the Omicron variant of coronavirus detected in Thailand to date

Thus the Omicron outbreak could have more widespread, severe, and prolonged effects than the baseline projection, depending on the severity of the situation and the strictness of containment measures.

Looking ahead, global financial markets would remain highly volatile according to Bank of Thailand given:

(1) the risk that central banks could adopt a faster pace of monetary policy normalization to curb high inflation,

(2) the spread of Omicron that could hamper the global economic recovery

(3) the …

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Thailand aims to push its games and content industry

Currently, key digital organizations involved in the economy are joining forces to push the Thai gaming industry, so as to attain the level of a regional hub.

In past decades, Thailand has relied on traditional sectors like agriculture, vehicle building and exports, textiles and garments to drive the engines of development. Though Thailand has successfully diversified its economy base into tourism, health care, and other services, the country appears to be in the midst of a prolonged middle-income malaise.

Recently, the government has stepped up its activities by launching a national master plan to move into the higher-value segment of economic activity generating larger incoming revenue for all parties. Then, the digital industry was chosen as one of the new S-curve industries expected to propel a new round of growth.

The Digital Economy Promotion Agency (DEPA)

The Digital Economy Promotion Agency (DEPA) was established in 2017. Among…

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Thailand Raises Public Debt Ceiling from 60% to 70% of GDP

Thailand’s State Monetary and Fiscal Policy Committee has decided to raise the ceiling of the public debt-to-GDP ratio from 60% to 70%, which will allow further public sector borrowing to rehabilitate the economy battered by COVID-19.

Finance Minister Arkhom Termpittayapaisith said the decision is intended to provide the government with more fiscal manoeuvrability should the need arise for the government to borrow more money to carry out medium-term financial policies.

He said the ministry will propose the new limit at Tuesday’s Cabinet meeting and assured that the government still has the ability to repay debts. The government has, so far, borrowed 1.5 trillion baht to fund COVID-19 relief and stimulus programs, 500 billion baht of which was approved this year.

Mr. Arkhom said the raising of the ceiling is in line with Section 50 of the 2018 State Fiscal and Financial Discipline Act, which authorizes the committee to revise the ratio every…

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Climate Change Could Force 49 Million People to Migrate in East Asia and the Pacific

The World Bank’s updated Groundswell report released today finds that climate change, an increasingly potent driver of migration, could force 216 million people across six world regions to move within their countries by 2050.

Hotspots of internal climate migration could emerge as early as 2030 and continue to spread and intensify by 2050.

The report also finds that immediate and concerted action to reduce global emissions, and support green, inclusive, and resilient development, could reduce the scale of climate migration by as much as 80 percent.

Climate change is a powerful driver of internal migration because of its impacts on people’s livelihoods and loss of livability in highly exposed locations.

By 2050, Sub-Saharan Africa could see as many as 86 million internal climate migrants; East Asia and the Pacific, 49 million; South Asia, 40 million; North Africa, 19 million; Latin America, 17 million; and Eastern Europe and Cent…

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Thailand relaxes COVID-19 measures to help revive economy

Thailand relaxed more virus related social curbs on September 1st, in dozens of cities including Bangkok, in a move that may indicate that the country’s economy, hit hard by COVID-19 will soon revive, lead by the export sector and sound financial fundamentals.

During the past couple weeks, new infection cases have been down from roughly 20,000 daily cases to 17,000 -19,000. Moreover, the number of daily discharges is exceeding infections, which has led to the conclusion that the situation is improving.

Therefore, the Center for the COVID-19 Situation’s Administration decided at the end of August to lift some lockdown measures in 29 provinces designated “Maximum and Strict Controlled Areas” or dark-red zone provinces from September 1st onward. Restaurants, and Malls have reopened under strict hygienic measures.

Flights between provinces have resumed, while night entertainment venues, schools and other businesses remain closed.

The …

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Coronavirus raises asset risks but Thai banks will maintain adequate solvency

A resurgence of coronavirus infections in Thailand will hamper the country’s economic recovery and raise asset risks for banks in the country.

Yet government measures to support borrowers will limit the deterioration of banks’ asset quality, and banks have sufficient buffers to absorb expected credit losses.

Thailand’s economic recovery will lag that of its ASEAN peers amid a resurgence of coronavirus infections, and this will result in increases in nonperforming loans (NPLs).

Slow economic recovery in Thailand will weigh on asset quality for banks

We project that Thailand’s GDP will grow at the slowest pace among large ASEAN economies in 2021 as the tourism sector continues to suffer from the pandemic amid low vaccination rates.

Loans to small and medium enterprises (SMEs), many of which are tied to tourism, will drive growth in nonperforming loans (NPLs).

Thai banks will maintain adequate sol…
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