China sees consumer inflation, producer deflation in 2015 — China’s consumer inflation continued to grow mildly in 2015, and producer prices went deep into deflation territory, as domestic demand remained lackluster amid a slowing economy, official data showed on Saturday. The consumer price index (CPI), a main gauge of inflation, increased 1.4 percent year on year in the last year, down from a 2 percent increase in 2014 and 2.6 percent in 2013, the National Bureau of Statistics (NBS) said in a statement. (Xinhua, 9/1/16
WHOA! Job creation surges in December — The U.S. economy closed out 2015 with a huge round of job creation. Nonfarm payrolls grew by 292,000 during December, according to a Bureau of Labor Statistics report Friday that showed employment momentum as the year wound down. The unemployment rate was 5 percent. A separate, more encompassing measure that accounts for those who did not look for work in the past month or were working part time for economic reasons — the underemployed — head steady as well, at 9.9 percent. (CNBC, 8/1/16)
Brent hits near 12-year low as market wrestles with weak demand — Data showing that crude inventories rose 234,000 barrels last week, much less than expectations, was overshadowed by reported builds of 8.4 million barrels in gasoline and over 6 million in distillates, which includes diesel and heating oil. (Reuters, 14/1/16)
China December trade data beats forecasts — China’s December exports fell 1.4 percent from a year earlier, while imports slid 7.6 percent, both much less than economists had expected but still likely consigning the economy to its weakest annual growth in 25 years. That left the country with a trade surplus of $60.09 billion for the month, the General Administration of Customs said on Wednesday. (CNBC, 14/1/16)
Some ECB Policy Makers Wanted Larger Rate Cut, More QE Purchases — Some European Central Bank policy makers argued in favor of making a deeper cut to the deposit rate and stepping up the monthly pace of bond-buying, an account of the Dec. 3 Governing Council meeting shows. (Bloomberg, 14/1/16)
Bt2.4 tn revenue targeted for tourism – The government and private sector are preparing more tourism packages to drive domestic travel and boost total tourism revenue from Bt2.2 trillion last year to Bt2.4 trillion this year. One of the big campaigns being planned is to hold a lucky draw for Bt1 million every month for 12 months. Tourists who purchase packages from travel agents or assigned operators will have a chance to win these grand prizes. (The Nation, 12/1/16)
Transportation Ministry to invest Bt18bn to develop 110 Special Economic Zones (SEZ). The project is expected to be proposed to cabinet on January 18. (Thai Post, 14/1/16) Government’s December revenue rose 11% — Shopping for items to be included as tax deductions boosted January revenue. It reports revenue of Bt40bn from the 4G auction. (Kom Chad Luek, 14/1/16)
GSB, SET to set up SMEs Private Equity Trust Fund — The Government Savings Bank (GSB) and the Stock Exchange of Thailand will jointly establish the SMEs Private Equity Trust Fund to provide low-interest loans for working capital to small and medium-sized enterprises, in line with the government’s policy to support SMEs in terms of capital funding and enhancing their competitiveness. GSB president Chartchai Payuhanaveechai said the size of the fund was capped at Bt2 billion, with its initial size set at Bt500 million. (The Nation, 14/1/16)
Insider trading soon to disqualify company directors automatically — Under pending regulations due this year, all listed-company directors involved in insider trading will be automatically disqualified regardless of their board of directors’ view. Rapee Sucharitkul, secretary-general of the Securities and Exchange Commission (SEC), announced the plan yesterday as the regulator unveiled its three-year strategy to toughen regulations and enforcement to enhance investor protection. (The Nation, 15/1/16)
Inheritance tax to affect four assets on February — PROPERTY, stocks, automobiles and cash are the four assets that will become subject to inheritance tax effective on February 1. The inheritance tax is 5 per cent for heirs and 10 per cent for others. It is levied on assets worth above Bt100 million. It will be collected on four assets only, namely property, stocks, autos and cash. Other assets such as gold are not subject to the inheritance tax. (The Nation, 14/1/16)
