Public to get first crack at TFF’s IPO. The State Enterprise Policy Office (Sepo) will apply a small-lot first basis for the imminent initial public offering (IPO) of the Thailand Future Fund (TFF) to enable more retail investors to invest in the infrastructure fund. (Bangkok Post, 13/3/17)
State keen to fast-track EEC PPP projects. The Eastern Economic Corridor (EEC) Office is expected to set up a new subcommittee to seek ways to shorten to three months the public private partnership (PPP) process for EEC infrastructure projects to begin construction. (Bangkok Post, 16/3/17)
Asean and EU to revive FTA talks. Asean economic ministers and their EU counterparts agreed to revive free trade agreement (FTA) talks between the two blocs. The EU and the 10-nation Asean launched talks with the aim of hammering out a pact in 2007, only to abandon that process two years later. The EU opted instead to conduct bilateral negotiations with individual states. (Bangkok Post, 14 /03/17 )
U-tapao, high-speed rail top list. THE GOVERNMENT will move first with two transport projects the upgrade of U-tapao International Airport and the construction of a high-speed railway out of the five mega-projects under the Eastern Economic Corridor master plan. (The Nation, 14/3/17)
US created 235,000 jobs in Feb, vs 190,000 expected. Nonfarm payrolls increased by 235,000 in February and the unemployment rate was 4.7 percent in the first full month of President Donald Trump’s term, the Bureau of Labor Statistics reported Friday. Average hourly earnings increased by a healthy 2.8 percent on an annualized basis. (CNBC, 13/3/17)
China Industrial Production Climbs More Than Forecast. China’s industrial production increased at a faster-than-expected pace in the first two months of the year, official data from the National Bureau of Statistics showed Tuesday. Industrial output climbed 6.3 percent in the January to February period from a year ago, just above the 6.2 percent rise expected by economists . (RTT News, 14/3/14)
Fed raises rates at March meeting. For the second time in three months, the Federal Reserve increased its benchmark interest rate a quarter point amid rising confidence that the economy is poised for more robust growth. The move, widely anticipated by financial markets, takes the overnight funds rate to a target range of 0.75 percent to 1 percent and sets the Fed on a likely path of regular hikes ahead. Minneapolis Fed President Neel Kashkari was the sole “no” vote. (CNBC, 16/3/17)
U.S. retail sales weakest in six months, inflation firming. U.S. retail sales recorded their smallest gain in six months in February amid delays in tax refunds, but the biggest rise in the annual inflation rate in nearly five years pointed to rising price pressures that could support further interest rate hikes. The Commerce Department said retail sales edged up 0.1 percent last month, the weakest reading since August, amid declines in purchases of automobiles and discretionary spending. In the 12 months through February, the CPI accelerated 2.7 percent, the biggest year-on-year gain since March 2012. The CPI rose 2.5 percent in the year to January. Inflation is firming in part as the 2015 drop, which was driven by lower oil prices, fades from the calculation. (Reuters, 15/3/ 17
BOJ keeps policy steady as Fed sticks to rate-hike path. The Bank of Japan kept monetary policy steady on Thursday in the wake of the U.S. Federal Reserve’s second interest rate hike in three months, underscoring the diverging policy paths of major global central banks. Economists had expected no change in the BOJ’s policy settings as rising global protectionist sentiment and an expected series of U.S. rate hikes overshadow budding signs of recovery in the trade-reliant Japanese economy. (CNBC, 17/3/17)
US jobless claims fall as labor market tightens. The number of Americans filing for unemployment benefits fell last week, pointing to a further tightening in the labor market. Initial claims for state unemployment benefits dropped 2,000 to a seasonally adjusted 241,000 for the week ended March 11, the Labor Department said on Thursday. Claims for the prior week were unrevised. (CNBC, 17/3/17)
