Thailand

• Martial law won’t be lifted yet: PM – The National Council for Peace and Order is unlikely to lift martial law in the near future as groups campaigning against the junta have been detected both in Thailand and abroad. (The Nation, 06/09/14)
• Thailand signs MoU with Japan to promote trade — The Department of Industrial Promotion (DIP) reports that Thailand has signed an MoU with Aiji province in Japan to promote trade and SMEs development that would benefit both parties. It says another four provinces in Japan will join in the initiative, including Kawazaki, Fukuoka and Minamibozo. High tech SMEs in Japan are extremely interested in Thailand as a production hub. (Daily News, 11/09/14)
• Baht stable despite recent weakening: BoT – The recent weakening of the baht is in line with regional currencies because of the strengthening of the US dollar, the Bank of Thailand said yesterday. (The Nation, 11/09/14)

• BoI applications down YoY — The BoI reports that the number of BoI applications in the first eight months of 2014 amounted to only Bt416bn, down from the same period last year. However, it notes that August did show some signs of recovery, with applications valued at Bt45.9bn. (ASTV Manager, 11/09/14)
• FPO to speed up spending – The Finance Ministry’s think tank plans to accelerate the pace of public spending through job creation, infrastructure repairs and speeding up budget disbursement as part of fresh efforts to spur economic growth. (Bangkok Post, 12/09/14)
• Cost of living support may be extended — The Dept. of Internal Trade is looking at a possible extension of cost of living control measures by another 2-3 months. It is in the process of doing the paperwork to extend the measure to Jan or Feb next year. The plan will have to be approved by the new minister before the department can contact manufacturers and distributors for cooperation. (Post Today, 12/09/14)
• Energy Minister will not lower prices further without Cabinet order — The only item on the agenda for the Energy Committee meeting (12th Sep) is a possible increase in Oil Fund contribution. (Thai Post, 12/09/14)
• 10% inheritance tax on gifts exceeding Bt50mn. This is likely to take effect next year and will apply to assets that are inherited, such as land and buildings, cars, and financial instruments. (Post Today, 12/09/14)
• Worries hold down credit card spending – Average credit-card spending has grown this year by only 5.2% as consumers are greatly concerned about the state of the economy, according to the University of the Thai Chamber of Commerce. (The Nation, 12/09/14)
• PDMO lays out financing plans for the 8-year infrastructure plan. The office will finance with 45% debt in a value of Bt2.4trn. The bulk outlay of the project will be in the third to fifth years. The PDMO is confident that Thailand will not break 50% debt to GDP. (Than Setakij, 10/09/14)
• PDMO says public debt on the 31st of July was Bt5.66trn or 46.85% of GDP. Debt increased by Bt7.15trn from the previous month. On the 31 July, government debt was at Bt3.92trn (down by Bt8.6bn MoM), state enterprise debt was Bt1.09trn (up by Bt2.06bn MoM), government bank debt was Bt620bn (down by Bt421mn); and other government operations debt was Bt17.8bn (up Bt14.1bn). (Thai Post, 10/09/14)
• Ministry of Commerce warns 2014 exports might not reach the 3.5% growth target. The ministry will meet with the commerce attachés in October before revaluating its target. (Thai Post, 10/09/14)

Globally

• U.S. wholesale inventories edged up 0.1% in July, said the Commerce Department Wednesday, which is below market expectations of a 0.5% increase. Meanwhile, wholesale sales advanced 0.7%. (Xinhua, 10/09/14)
• U.S. initial jobless claims rise to 315,000 last week – In the week ending September 6, the advance figure of seasonally adjusted initial claims for jobless benefits rose to 315,000, 11,000 more than the revised level in the previous week, the U.S. Labor Department said on Thursday. (Xinhua, 11/09/14)
• German inflation remains at very low level – According to Destatis, consumer prices in Germany rose 0.8% YoY in August 2014, but remained unchanged from July 2014. (Xinhua, 11/09/14)
• US job openings stay near 13-year high; hiring up – The number of U.S. job openings remained near the highest level in 13 years in July, and companies also stepped up hiring that month to the fastest pace in nearly seven years, two signs the job market is slowly healing. (Boston Herald, 09/09/14)
• UK industrial output sees biggest rise for six months — Industrial output rose by 0.5% in July after a 0.3% rise in June, according to the latest figures from the Office for National Statistics. (BBC, 09/09/14)
• Bank of England Gov. Mark Carney signals spring rate rise – The Bank of England is likely to meet its inflation and jobs goals if it starts to raise its benchmark interest rate early next year, Gov. Mark Carney said Tuesday in his clearest statement yet on the probable timing of a first move toward unwinding crisis-era stimulus. (WSJ, 09/09/14)
• UNCTAD projects 2.5 to 3 pct growth for 2014 global economy – The global economy is forecast to grow by 2.5 to 3 percent this year, according to a report released by the United Nations Conference on Trade and Development (UNCTAD) on Monday. (Xinhua, 08/09/14)
• Ukraine receives US$500mn World Bank loan for economic reforms – Ukraine has received a US$500mn loan from the World Bank for implementing economic reforms, the Finance Ministry said Monday. (Xinhua, 08/09/14)
• French central bank maintains quarterly growth estimate at 0.2% – Growth projections in France, the eurozone’s second largest economy, was maintained at 0.2% for the third quarter of the year, the French central bank La Banque de France said Monday. (Xinhua, 08/09/14)
• China’s surplus hits record high in August with exports up 9.4% — China’s exports in August rose 9.4% year-on-year to US$208bn, with monthly trade surplus reaching an all-time high of US$49.8bn. (Xinhua, 08/09/14)