Economy and commerce
Banking and financial services
Cabinet backs credit boost for SMEs in Bt15 bn package
The cabinet on March 21 gave the nod to the Small and Medium Enterprise Development Bank of Thailand to extend up to Bt15 billion in loans to small and medium-sized enterprises. The cabinet also approved plans for a major industrial estate development project in Sa Kaeo. “About ...
Govt seeks to regulate enterprises unlawfully raising capital
Proper investigation has been ordered into enterprises whose operations violate regulations and laws, notably those raising funds illegally from individuals for business operations, the government spokesman has said. The instruction was made at the government monthly meeting for March, which took place last week in ...
German bank to loan 23 million euro to power hundreds of villages in Shan State
Germany is giving Myanmar a Euro 23 million loan to supply electricity to 416 villages in southern Shan State, a Electricity and Energy Ministry official said. He that Germany had agreed to loan the funds totalling Euro 23.884 million, and the matter was now pending ...
Microlender in monster deal
Hong Kong financial giant, The Bank of East Asia and Sri Lanka’s LOLC announced on March 17 that they have jointly acquired a majority stake in Prasac Microfinance, Cambodia’s largest microfinance institution by assets, in what could be the largest acquisition of a Cambodian lender to ...
Cautious banks to focus on lending quality
Credit growth in the first two months of 2017 rose 1.23 per cent year-on-year, but credit institutions remain cautious over business targets while focusing on lending quality. The growth seen in 2017 was higher than the 0.33 per cent growth rate noted in the first ...
KDIC puts Tomato Bank on the chopping block
Tomato Specialized Bank, the smallest bank in the Kingdom, is attempting to sell a majority stake in its operations in order to dilute the equity stake of its defunct majority shareholder while securing a partner able to help it meet the central bank’s revised minimum ...
China's chill hits banks' bottom lines
Unable to shrug off its disappointing performance of the preceding year, Asia’s financial sector registered a second straight year of decline in its bottom line in 2016. Net profit for the sector came in at $173.1 billion, a decline of 8.8% compared to 2015 and ...
ADB report poses $26tn question for Asia
Back in 2009, the Asian Development Bank estimated the region would need $8 trillion worth of infrastructure investment between 2010 and 2020. Now, for the 15 years from 2016 to 2030, the bank reckons $26 trillion is in order to sustain current levels of growth. ...
Top private sector group predicts 3.5-4% GDP growth
The Joint Standing Committee on Commerce, Industry and Banking has kept its key economic forecasts unchanged, citing threats of external risks that could impede recovery. Chen Namchaisiri, chairman of the Federation of Thai Industries, who chaired the JSCCIB meeting on March 7, said these factors ...
Fight against corruption
The World Bank is to train police, prosecutors and court staff on how to combat money laundering and financial terrorism under a national scheme to fight corruption. The three-day training will be offered in partnership with the Anti-Corruption Unit to 37 employees from organizations including ...
