SRT finished auctions of dual-track railway, consisting of five lines and nine contracts. It will send the winning bids to the board and expects contracts to be signed within September. UNIQ got two contracts worth Bt18.7bn. ITD got three contracts worth Bt22.7bn. STEC got two contracts worth Bt13.5bn. (Khao Hoon, 8/9/17)
ILINK and ITD to bid for projects in Suvarnabhumi airport. ILINK and ITD will work with previous partners to bit for the Automated People Mover project in Suvarnabhumi Airport worth Bt2.89bn. AOT will hold a meeting to discuss criteria on September 11. (Khao Hoon, 8/9/17)
New cigarette and alcohol tax act to be proposed to cabinet next week. The new tax rate will be effective on September 16. (Thai Post, 7/9/17)
Ministry of Transportation to invest Bt340bn in transportation system in EEC. It believes this can boost GDP in the area to 4.9% with logistics cost reduction of 3%. This excludes the highspeed railways Bangkok – Pattaya – Rayong worth Bt219bn. (Khao Sod, 7/9/17)
SRT reveals rail contract bid winners. The KS-C and STPP joint ventures won the bidding for two sections of the Prachuap Khiri Khan-Chumphon double-track railway, worth 12.3 billion baht, according to the State Railway of Thailand (SRT). The SRT yesterday revealed KS-C, a joint venture between KS Joint Venture Co Ltd and China Railway 11th Bureau Group Corporation Ltd, won the concession for the 167km rail route’s first section, Prachuap Khiri Khan to Bang Saphan Noi. (Bangkok Post, 6/9/17)
Fed’s Mester: Don’t wait for inflation to rise before hiking rates. The Federal Reserve shouldn’t wait until it reaches its economic goals before starting to tighten monetary policy, Cleveland Fed President Loretta Mester said Thursday. (CNBC, 8/9/17)
ECB holds interest rates steady, says it’s ready to increase stimulus if necessary. The European Central Bank (ECB) left its benchmark interest rate unchanged Thursday and said that its stands poised to increase its asset purchase program if needed, quashing any remaining expectations that it would signal a stimulus wind-down. (CNBC, 8/9/17
ISM nonmanufacturing index 55.3 in August as expected. Nonmanufacturing economic activity grew in August to a level that matched expectations by economists surveyed by Reuters. The Institute for Supply Management’s index registered 55.3 in August. This was a reversal from a decline in July, when the index hit 53.9. (CNBC, 7/9/17)
Fed’s Fischer resigns, leaving Trump earlier chance to shape central bank. U.S. Federal Reserve Vice Chair Stanley Fischer, a veteran central banker who helped set the course for modern monetary policy, said on Wednesday he will step down from his position in mid-October, potentially accelerating President Donald Trump’s opportunity to reshape the direction of the central bank. (Reuters, 7/9/17
China August factory activity picks up to six-month high as orders surge: Caixin PMI. China’s manufacturing activity expanded at the fastest pace in six months in August, a private survey showed on Friday, buoyed by a surge in export orders and higher prices. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 51.6 in August, compared with 51.1 in July and beating economists’ expectations for a slight dip to 50.9. (Reuters, 1/9/17)
