Thailand Finance & Banking

New Finance Minister Thirachai Phuvanat-naranubala is questioning the Bank of Thailand's hawkish focus on inflation by lifting the policy interest rate again, saying it would be a key obstacle for businesses.

The Securities and Exchange Commission envisions setting up a trading board for selected companies in 2013. Coupled with auditors' support in catching listed and non-listed companies' pay-offs to politicians and civil servants, the watchdog hopes it can support the private sector's effort to combat corruption.

Recap: The Stock Exchange of Thailand caught the S&P Flu along with the rest of the world last week but staged a modest rebound after the US Federal Reserve pledged to keep interest rates near zero for two more years if that's what it takes to get the world's largest economy moving again.

Local price tops B25,000 for first time. As stock markets continued their sharp decline, world gold prices soared to a record $1,779 an ounce yesterday and local prices broke the 25,000-baht barrier for the first time as investors sought safer places to park their cash.

There will be no immediate impact on AsiaPacific sovereign ratings resulting from the lowering of the issuer credit ratings on the US to 'AA+' on Friday, Standard & Poor's Ratings Services said today amid selloffs across the region.

Lombard Investments says it has fully exited its investment in Somboon Advance Technology, one of Thailand's leading auto-parts manufacturers, earning a return of 3.5 times its investment.

The Revenue Department is ready to cut the corporate income tax rate, though it is also proposing a rise in the value-added tax (VAT) rate, says Satit Rungkasiri, director-general of the department.

The governor of the Bank of Thailand has expressed confidence that there were no signs of bubbles in the banking sector, which witnessed average loan growth of more than 10 per cent in the first half of this year.

Economists are advising the new government to focus more on income distribution, as it is an efficient way to strengthen the country's economic fundamentals.

Exporters are uncomfortable with the prospect of a strengthening baht, as they want a stable exchange rate to help them keep pace amid tough global competition