Thailand

• More state rice sold- The government expects to deliver between 900,000 and 1mn tons from rice stocks by year-end through government-to-government contracts. (Bangkok Post, 31/10/14)
• FPO cuts growth forecast to 1.4% amid weak exports – The Finance Ministry’s think tank yesterday trimmed this year’s economic growth forecast to 1.4%, assuming that second-half growth comes in at 2.9%. (Bangkok Post, 31/10/14)
• BAAC eyes 8% loan growth in fiscal year – The state-owned Bank for Agriculture and Agricultural Cooperatives (BAAC) expects lending growth for its fiscal year ending next March 31 will miss its target due to weak loan demand after declines in crop prices. (Bangkok Post, 31/10/14)

• Digital economy – Deputy Prime Minister M.R. Pridiyathorn Devakula has stressed that Thailand needed to have a “digital economy” to generate income and suggested it encourage foreign companies to establish their headquarters in the country. (NNT, 30/10/14)
• 30-year bond plan for rice debt – The Finance Ministry plans to issue a 30-year bond partly to refinance debt incurred from the rice subsidies of previous governments. The 30-year bond will account for a maximum of 10% of the debt, while the principal and interest will be paid for by the annual budget, said Finance Minister Sommai Phasee. (Bangkok Post, 30/10/14)
• Inheritance tax – MoF plans to finalize the draft for inheritance tax in November and bring it to the cabinet for approval. (Kom Chat Luek, 30/10/14)
• More stimulus for 2015 being prepared – The Finance Ministry is preparing to launch a second round of stimulus measures, aimed at accelerating economic growth next year to be at least 1.5%, Finance Minister Sommai Phasi said yesterday. (The Nation, 28/10/14)

Globally

• U.S. real gross domestic product (GDP) increased at an annual rate of 3.5% in the third quarter, according to the advance estimate released by the U.S. Commerce Department Thursday, beating analyst estimates of 3%. (Xinhua, 31/10/14)
• U.S. initial jobless claims keep rising – The advance figure of seasonally adjusted initial claims for jobless benefits went up to 287,000, a rise of 3,000 when compared to the revised level of the previous week, the U.S. Labor Department said Thursday. (Xinhua, 31/10/14)
• German unemployment in surprise fall – The number of people registered as unemployed in Germany fell by 22,000 to 2.89 million in October, the Federal Labour Office said. (BBC, 30/10/14)
• German inflation unexpectedly slows to 0.7% – Germany’s inflation rate unexpectedly fell to just 0.7 per cent in October. Economists had expected the EU-harmonised consumer price index’s annual rate would accelerate from 0.8 per cent to 0.9 per cent, but the decline highlights just how subdued price pressures are in the eurozone’s biggest economy. (FT, 31/10/14)
• Shanghai-HK stock link in final preparations – Preparation for the Shanghai-Hong Kong stock exchange connection is in the final stage, vice chairman of China’s securities regulator Yao Gang told a financial forum in Beijing on Thursday. (Xinhua, 30/10/14)
• Fed announces end of QE stimulus, keeps rates low – The Federal Reserve decided Wednesday to end its six years of pump-priming, as it sees the economy is improving on track from the worst financial crisis in decades. It also pledged to keep low interest rates in the longer run to nurture the hard-earned recovery. (Xinhua, 30/10/14)
• Chinese economy continues adjusting to “new normal” – China’s growth continues to moderate, reflecting policy efforts to rebalance the economy as the country works to implement reforms supporting more sustainable growth, the World Bank said on Wednesday. (Xinhua, 30/10/14)
• China’s property loans growth slows – Loans to China’s real estate sector rose at a slower pace in the first three quarters as the housing market cooled, data from the central bank showed Tuesday. (IQ Biz, 29/10/14)
• U.S. pending home sales rose slightly in September, according to the National Association of Realtors. The index, a forward-looking indicator based on contract signings, inched up 0.3 percent to 105.0 in September, the second highest level since last September, but still shy of market consensus. (Xinhua, 28/10/14)
• The Markit Flash U.S. Services PMI Business Activity Index stood at 57.3 in October, down from 58.9 in September, representing the slowest rate of output growth for six months, but it remained well above the 50.0 mark that separates expansion from contraction. (Xinhua, 28/10/14)
• S.Korean industrial power sales rise on export growth – Power sales in the industrial sector, a barometer of industrial activities, increased 0.8 percent from a year earlier to 21.97 billion kilowatt-hours in September after rising 2.3 percent in the prior month, according to the Ministry of Trade, Industry and Energy. (Xinhua, 27/10/14)
• Ifo Business Climate Index falls for sixth consecutive month – The Ifo Business Climate Index for industry and trade in Germany fell from 104.7 points in September to 103.2 points in October, marking the sixth decrease in succession, the Ifo institute reported here on Monday. (Xinhua, 27/10/14)
• Japanese auto production down in September – Japan’s top 3 auto makers said their production declined in September due to the government’s consumption tax hike in April. (IQ Biz, 28/10/14)