PPRP toils to keep minnows in coalition : The Palang Pracharath Party (PPRP) has decided to award a “political position” to a small coalition party bloc as Prime Minister Prayut Chan-o-cha prepares to hold clear-the-air talks with the group later this week following their threat to withdraw support for the government. Bangkok Post
State allays concerns on BoT powers : Unease after formation of fiscal and monetary committee announced . Deputy Prime Minister Somkid Jatusripitak and Finance Minister Uttama Savanaya have rushed to soothe jitters over the Bank of Thailand’s powers after the government announced the formation of a fiscal and monetary committee, saying the committee does not plan to interfere in the central bank’s monetary policy nor its independence. Bangkok Post
Fanning the flames of fear : The global economic context is becoming riskier, especially for Thailand. The recent yuan softening and monetary policy easing by regional central banks are the latest moves stoking fears of an emerging currency war, with Thailand positioned in the middle of the crossfire.Last raised by former Brazilian finance minister Guido Mantega in 2010, the term “currency war” refers to competitive currency devaluation to gain a trade advantage in terms of export value. Bangkok Post
Megaprojects may require 90% local content : The Industry Ministry plans to talk with the Finance Ministry about requiring 90% local content for state megaprojects and procurement to encourage investors and bidders to use locally made materials in projects. Bangkok Post
Income-share model sought for concession : The Bangkok Metropolitan Administration (BMA) has tabled a new demand for revenue-sharing of 100 billion baht as part of negotiations with BTS Group Holdings Plc over proposed extensions of concessions for the Green Line skytrain service. Bangkok Post
Red-shirt chiefs cleared of terrorism in 2010 unrest : The Criminal Court yesterday acquitted 24 leaders of the red-shirt United Front for Democracy Against Dictatorship (UDD) of terrorism, ruling that their actions during 2010 protests against the Abhisit Vejjajiva government were political. Bangkok Post
BoT mulls relaxing LTV rule : Co-signer condition likely to be dropped . The Bank of Thailand is considering relaxing the loan-to-value (LTV) regulations governing mortgage lending by refraining from requiring co-signers. Bangkok Post
Four banks cut retail, overdraft rates : The four biggest commercial banks have passed on the central bank’s 25-basis-point policy rate cut almost in full, slashing their minimum retail rate (MRR) and minimum overdraft rate (MOR) from today. Bangkok Post
Govt talks up stimulus package : Nation ‘must protect its export sector’. Today’s first meeting of economic ministers chaired by Prime Minister Prayut Chan-o-cha will consider a fresh economic stimulus package which is expected to generate cash flows of more than 100 billion baht, Finance Minister Uttama Savanayana said yesterday. Bangkok Post
US urges Thais to join CPTPP : The US-Asean Business Council, an advocacy group that aims to foster economic growth and trade ties between the two regions, is calling for the Thai government to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and speed up its talks on joining the Regional Comprehensive Economic Partnership (RCEP). Bangkok Post
