Thai Economy News

Six-figure homes will sell like hotcakes after the Bt15,000 salary policy is implemented."This will create a new market for residential projects priced up to Bt1 million," Opas Sripayak, managing director of LPN Development, said yesterday.

Siam Makro Plc, the country's largest operator of cash-and-carry stores, expects its sales to hit 100 billion baht next year driven by higher domestic consumption stimulated by government spending and higher wages.

A surge in interest from Russian buyers and expats working in Hong Kong and Singapore has seen property sales in Phuket speeding up.

Suvarnabhumi Airport has moved into the world's 10 busiest airports in terms of international passengers, underscoring its importance as a global hub.

Association of Thai Travel Agents estimates tourists handled by member companies at Suvarnabhumi Airport could reach 3.5 million trips this year on the back of growing confidence in Thailand's stability.

Newly-appointed Transport Minister ACM Sukampol Suwannathat vowed yesterday to press ahead with the Pheu Thai Party's transport policies and gave an assurance that he would not introduce a management change at Thai Airways International.

Central Plaza Hotel Plc (Centel) says it will enter the European market as part of its 4.5-billion-baht expansion plan from 2012-15.

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.