Thai banks’ NPLs increased to Bt400bn in 1Q17, up 5%YoY, led by the big banks; KTB, BBL, and SCB. This is due to the slow economic growth that affects debt payment ability of SMEs. (Bangkok Biz, 21/4/17)
MRTA’s boards to cut Orange-line mass transit budget in Cultural Center and Talingchan stations by Bt1.8bn. (Thai Post, 21/4/17)
AAV gets AOC. AAV, Thailand’s largest low-cost carrier has become the second Thai-registered airline to complete the recertification of its air operator’s certificate (AOC) after BA got this license in Feb. THAI is expected to be certified in May. The ICAO plans to audit Don Muang and Suvarnabhumi airports in July. (Kao Hoon, 20/04/17
Thai March exports surge 9.2 pct y/y, far above forecast. Thailand’s customs-cleared exports surged well above expectations in March, after declining in the previous month, helped by strong demand for rubber and computers, in an encouraging sign for the export-dependent economy still trying to gain a firmer footing. Exports jumped 9.2 percent in March from a year earlier after February’s 2.8 percent drop, commerce ministry data showed on Monday. A Reuters poll expected an annual rise of 1.90 percent in March. (Nasdaq, 24/4/17)
Thai Finance Ministry keeps 2017 GDP growth outlook, raises export forecast. Thailand’s economy is still expected to grow 3.6 percent this year, although exports are likely to perform better than earlier forecast, the finance ministry said on Thursday. (Nasdaq, 28/4/17)
Trump Tax Plan Said to Call for Corporate Rate Cut to 15%. President Donald Trump will call for cutting taxes for individuals and lowering the corporate rate to 15 percent to fulfill a promise he made during his campaign, according to a White House official. The president on Wednesday plans to make public the broad outlines of what he wants to change in the tax code, though the details likely will be left until later negotiations among congressional leaders and officials from Treasury. (Bloomberg, 25/4/17)
BOJ Cuts Inflation Forecast While Keeping Stimulus Unchanged. The Bank of Japan kept its stimulus policies unchanged while lowering its inflation forecast, underscoring that any exit from its unprecedented monetary easing remains far away. The central bank will continue to use its two policy rates and asset purchases to spur prices higher, it said in a statement Thursday. The decision was expected by almost all economists surveyed by Bloomberg. The BOJ made a small increase to its growth forecasts for this fiscal year and next. (Bloomberg, 28/4/17)
President Mario Draghi suggested downside risks to the bloc’s economy had diminished and its economic recovery picked up pace. The ECB left its monetary policy unchanged Thursday and also stuck with its monthly rate of asset purchases until at least the end of the year. Europe’s central bank is set to proceed with a monthly pace of quantitative easing (QE) bond purchases of 60 billion euros ($65.5 billion). (CNBC, 28/4/17)
U.S. PMI Surveys Signal Further Loss Of Growth Momentum In April — At 52.7 in April, down from 53.0 in March, the seasonally adjusted Markit Flash US Composite PMI Output Index signalled a further slowdown in private sector output growth. The latest reading pointed to the weakest rate of expansion since September 2016. (Seeking Alpha, 23/4/17)
G20 ‘consensus’ that protectionism damaging for global economy — The Group of 20 major economies sent a message Friday on the threat that rising protectionism poses to the global economy, but the United States cast doubt over its adherence to that stance. (Daily Mail, 21/4/17)
