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Recession fears mount as cases rise

Recession fears mount as cases rise 12 FPO cuts GDP growth forecast to 1.3% published : 30 Jul 2021 at 05:43 12 Asoke junction along Sukhumvit Road, usually jammed with traffic, is dead as people work from home during the lockdown. (Photo: Varuth Hirunyatheb) Thailand will likely be the worst economic performer in Southeast Asia this year, with economists continuing to slash the country s growth forecast amid surging Covid-19 infections, mounting political tensions and fading hopes for a tourism revival, according to Bloomberg. The Fiscal Policy Office (FPO) downgraded the country s 2021 economic forecast to 1.3% GDP growth, a dip from an April projection of 2.3%, on the assumption new infections of Covid-19 will peak in the middle of August, said director-general Kulaya Tantitemit.

Government asked to expedite regulatory guillotine

Government asked to expedite regulatory guillotine published : 29 Jul 2021 at 04:00 The government is being urged to step up efforts to reform outdated laws and regulations that hinder business activities and public services within six months to raise Thailand s competitiveness after the pandemic. Kobsak Pootrakool, senior executive vice-president of Bangkok Bank and chairman of a subcommittee on business regulation reform set up by the premier, said the government needs to expedite reducing unnecessary or obsolete laws and regulations, known as a regulatory guillotine, within six months. Any delay may affect Thailand s overall competitiveness, especially after the pandemic when frenetic competition is anticipated, said the former minister to the Prime Minister s Office.

First double-dip recession since 1998 looms

First double-dip recession since 1998 looms
bangkokpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bangkokpost.com Daily Mail and Mail on Sunday newspapers.

Thailand risks first double-dip recession since 1998 crisis

Thailand risks first double-dip recession since 1998 crisis
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.

American Express retains commitment

American Express retains commitment American Express retains commitment Financial service provider s latest tie-up with Bangkok Bank is helping increase uptake of its cards in the premium and affluent segments published : 27 Jul 2021 at 04:53 1 Mr Brown is optimistic about consumer spending in Thailand and expects pent-up demand in both travel and retail industries when the pandemic situation improves. Thailand remains an important strategic market for global financial service provider American Express, said Marlin Brown, vice-president and country manager at American Express in Thailand, in an interview with the Bangkok Post. He added that American Express latest collaboration with Bangkok Bank to accelerate its card acceptance across Thailand shows the company s commitment to growing the business in the market. American Express and Bangkok Bank recently signed this partnership deal.

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