Japan October machinery orders unexpectedly climb — Core machinery orders in the world’s third-biggest economy jumped 10.7 per cent in October from the month prior, widely beating estimates for a 1.5 per cent decline. That comes on the back of a 7.5 per cent rise in September. (Financial Times, 9/12/15)
Eurozone GDP expanded 0.3% in 3Q, matching estimates — The eurozone economy expanded by 0.3 per cent in the third quarter, Eurostat said, a reading that is in line with earlier estimates. (Financial Times, 8/12/15)
Chinese producer prices deflate for 45th month — The ill wind of deflation is still cooling prices in Asia’s largest economy – a bad sign for companies across the region. Producer prices deflated for a 45th consecutive month in November at a rate of 5.9%, the same rate as every month since August, slightly less than the 6 per cent economists had been expecting. (FT, 9/12/15)
U.S. Posted $65 Billion Deficit in November — The U.S. budget deficit widened in November due to an uptick in spending that outpaced an increase in revenues, the Treasury Department said on Thursday. The deficit over the 12 months ended November stood at $461 billion, or around 2.6% of gross domestic product. The figure is up from $436 billion one year earlier, or 2.5% of GDP. Deficits have fallen this year to their lowest levels since 2008, but November marked the second time this year in which deficits nosed above their year-earlier level (WSJ, 10/12/15)
Bangkok’s Orange Line gets green light — The cabinet on Tuesday approved the 95.1-billionbaht Orange Line electric rail line, which is set for completion in August 2022. The state-run Mass Rapid Transit Authority (MRTA) will manage the Bangkok with the remaining 9.62 billion baht tabbed for land expropriation. The state enterprise plans to open bidding in May. (Bangkok Post, 8/12/15)
Thailand Future Fund to be approved next week — Finance Minister Apisak Tantivorawong said discussion regarding the financial return and ease of investment in the country’s planned Bt100-billion infrastructure fund – also known as the “Thailand Future Fund” – had been completed and the matter was now waiting to be put on the agenda for next week’s Cabinet meeting. (The Nation, 9/12/15)
Cabinet approves merger of subway, tollway operators — The cabinet on Tuesday approved the merger of tollway operator Bangkok Expressway Plc and subway firm Bangkok Metro Plc, The merger is part of a restructuring of construction firm Ch Karnchang (CK), but needed government approval as both firms receive contracts from state agencies to operate tollway and subway networks, mostly in Bangkok. (Bangkok Post, 8/12/15)
Ch Karnchang offers lowest bid for dual-track rail project — The State Railway of Thailand opened an electronic auction for construction work of the dual-track railway linking Jira Road in northeastern Thailand to Khon Kaen province with the reference price at 23.6 billion baht. A consortium led by construction firm Ch Karnchang Plc offered the lowest bid for the government’s dual-track railway project, putting it in a position to win the bid, a company executive said on Tuesday. (Bangkok Post, 8/12/15)
Excise tax to be started in January 2016 – The new vehicle excise tax based on carbon dioxide emissions will raise tax revenue by 7-8 billion baht in 2016. This amount will gradually wind down as car makers improve the CO2 emissions of their vehicles. (Kom Chud Luek,10/12/15)
Somkid to hold meeting with China, Myanmar and Cambodia –about economic and business corroboration. He also plans to bring in the private sector to help government projects. (Thai Rath, 10/12/15)
