Economy and commerce
Banking and financial services
ADB cuts growth forecast
The Asian Development Bank (ADB) cut its two-year growth forecast for the region on 22 September, amid a slow recovery in major industrial economies and weaker prospects for China and India. The Manila-based bank said developing Asia’s gross domestic product (GDP) growth is expected to slow ...
World Bank approves $400m electrification loan
The World Bank approved a US$400 million interest-free loan to provide financing and technical assistance to help bring electricity to more than 6.2 million people in Myanmar, the bank announced on 17 September. The loan will support Myanmar’s National Electrification Plan and was granted by the ...
Pact assessing loans to flood-hit farmers
The repayment of more than US$10 million in loans issued by Myanmar’s largest microfinance institution is in doubt as a result of devastating floods in upper Myanmar last month. Pact Global Microfinance Fund’s general manager for upper Myanmar, U Maung Maung, said the organisation is reviewing ...
ADB set to slash Thai GDP growth forecast
The Asian Development Bank (ADB) will revise down its GDP growth forecast for Thailand to lower than 2.9% this year following the country’s slower-than-expected performance in the first half. However, the new growth forecast, due to be announced on 22 September, will be higher than 2.5%, ...
Analysts: Vietnam primed for financial derivative market
Vietnam’s financial market holds promising potential and the basic foundations to develop derivative products, financial experts told a seminar held by the Hong Kong-based Asia Risk magazine in Singapore on 9 September. Keep reading ...
Guarantees for SME lending set to jump
Loan guarantees for small and medium-sized enterprise (SMEs) are expected to surge 67% to 10 billion baht a month in the wake of the new credit guarantee portfolio scheme by Thailand’s state-owned Credit Guarantee Corporation. Keep reading ...
Baht hits 6-year low as BoT eases foreign-investing rules
The baht sank to a six-year low on 28 August as a central bank move to allow domestic investors easier access to overseas markets sparked concern that outflows will increase. Keep reading ...
State Bank of Vietnam assures no further dong/dollar exchange rate changes
The State Bank of Vietnam (SBV) will not make any further adjustment to the Vietnam Dong/US Dollar exchange rate this year, SBV Deputy Governor Nguyen Thi Hong said in a press release issued late on 24 August. Keep reading ...
Finansa directors back B180m licence deal
The board of SET-listed Finansa Plc has given the nod to its securities brokerage arm Finansa Securities to divest securities and derivatives agent licences to joint venture SBI Thai Online Securities for 180 million baht. Keep reading ...
State banks help more Thais to join financial system
Thailand is among several countries in the East Asia and Pacific region to record an increase in financial inclusion thanks to greater financial services offered by state-owned banks, says a World Bank senior economist. Thailand registered a higher rate of financial inclusion among adults aged 15 ...
