B90bn set aside to aid rural areas — The government is poised to earmark 90 billion baht to support local development and ease the impact of the drought and slowing economy in rural areas. (Bangkok Post, 18/3/16)
2-in-1 strategy in bid to ease new tax pain – Draft bills on the new personal income tax structure and on the land and buildings tax will go before cabinet for approval simultaneously, finance permanent secretary Somchai Sujjapongse says, in a move intended to ease public anxiety over the tax burden. (Bangkok Post, 14/03/16)
Government approved investing Bt110bn in Pink and Yellow lines. This is good news for CK, SEAFCO, UNIQ, SCC, and TPIPL. (Thun Hoon, 14/03/16) Ministry readies Red Line deal – The Transport Ministry is planning to sign a contract with a private consortium for the Red Line railway connecting Bang Sue to Rangsit at a cost of 32.3 billion baht. (Bangkok Post, 14/03/16)
U.S. Budget Deficit $192.6 Billion in February – The U.S. budget deficit was little changed in February, leaving the gap between government spending and revenue near a seven-and-a-half year low. The government ran a $193 billion deficit in February, a month in which expenditures typically exceed revenue as tax refunds are mailed. That was up only slightly from a $192 billion deficit last February, the Treasury Department said Thursday in its monthly report. (WSJ, 10/03/16)
China retail sales rises 10.2% in Jan.-Feb.– China’s retail sales of consumer goods grew 10.2 percent year on year in the first two months of 2016, official data showed Saturday. The rate slowed from the 11.1-percent growth recorded in December 2015 and 10.7-percent for the entire 2015, according to the National Bureau of Statistics (NBS). (Xinhua, 14/03/16)
China property investment improves in Jan.-Feb. – Investment in China’s property sector rose 3 percent year on year in the first two months of 2016, making notable improvement, official data showed Saturday. The growth rate was higher than the 1-percent increase for the entirety of 2015. (Xinhua, 14/03/16)
China industrial output expands 5.4 pct in Jan.-Feb. – China’s value-added industrial output gained 5.4 percent year on year in the first two months of 2016, the lowest monthly growth since November of 2008, official data showed Saturday. (Xinhua, 14/03/16)
Japan’s Jan. core machinery orders up 15.0% on month – Japan’s core private-sector machinery orders jumped a seasonally adjusted 15.0 percent in January from the previous month for the second straight monthly gain, led by large orders from the steel industry, the government said Monday. (Kyodo, 14/03/16)
OPEC trims 2016 outlook for its oil — The oil cartel’s crude demand forecast was revised down by 100,000 barrels per day for the full-year, slightly lower than its estimate last month, according to a report released Monday. (CNBC, 14/3/16)
Eurozone industrial output rises 2.1% on Ireland surge — Eurozone industrial production grew at its highest rate in more than six years during January, driven by a sharp increase in output from Ireland. Production rose by 2.1% across the 19-member euro area, reversing negative readings in December and November. It is the highest monthly rise since September 2009, when monthly output jumped 2.3%. (BBC, 14/3/16)
