Bhumjaithai aims high: Party targets 120 seats, backed by cash and solid candidate line-up. With plenty of resources and a vast supply of election candidates at its disposal, Bhumjaithai is widely speculated to outdo the ruling Palang Pracharath Party (PPRP) at the next general election. Bangkok Post
IMF projects Thai growth of 2.8%: Agency calls for economic reforms. The Thai economy is projected to continue its post-pandemic recovery with expansion of 2.8% this year and 3.7% in 2023, according to the International Monetary Fund (IMF). Bangkok Post
Rush order: The Thai-Chinese high-speed rail project was accelerated by government officials in order to reduce logistics costs. The government is accelerating the construction of the second phase of the Thai-Chinese high-speed rail linking Nakhon Ratchasima to Nong Khai and the double-track rail route linking Khon Kaen to Nong Khai worth a combined 330 billion baht as it aims to reduce logistics costs to 11% of GDP by 2027 from 13.8% in 2021. Bangkok Post
Floods set to delay rice harvest: Expected to hinder output for the season. Floods ravaging vast plots of farmland in many areas nationwide are likely to delay by two weeks harvesting of the main crop of the country’s 2022-23 season, limiting output for the season which usually gets underway in early November. Bangkok Post
Anti-Money Laundering Office’s (Amlo) new rules that depositors will only be able to use plastic cards at cash deposit machines (CDMs) may see meagre rise in banks’ ATM card fees, but were told by the BOT to develop alt verification system.
TAT prepares new phase of subsidies: Extra 3-4m hotel rooms in the scheme. The new phase of the domestic tourism subsidy programme is being drafted with an additional 3-4 million hotel rooms, double the number in the fourth phase, which is scheduled to end this month, as the government aims to push GDP growth to 3.3% this year. Bangkok Post
Clear skies ahead: Thai recovery lifting sector, says agency. Fitch Ratings projects higher earnings for the Thai banking sector as the economy recovers and loan demand picks up. Fitch Ratings expects higher earnings in the Thai banking sector, in line with the country’s economic recovery, with loan-loss reserves in the industry having peaked. Bangkok Post
Uneven recovery hinders sector’s growth: Thailand’s e-commerce is expected to post US$23 billion in gross merchandise value (GMV) this year, up 18% year-onyear, but the growth is much smaller than the previous year, weighed down by economic headwinds, according to a new survey by Facebook parent firm Meta and consultancy Bain & Company. Bangkok Post
Homebuilding prices swell: The standard home construction price index rose 6.2% year-on-year in the third quarter, a new peak and the highest increase in a decade, largely attributed to soaring fuel prices. Bangkok Post
September car exports up amid rise in chip supply: More semiconductors are being supplied to the global auto industry, following a decline in demand for chips from the electronics sector, while car exports from Thailand reached their highest level so far this year in September, according to the Federation of Thai Industries (FTI). September auto exports soared by 35.9% year-on-year to 100,389 cars, an increase of 36.9% from August. Bangkok Post
