Economy

Thailand’s gold shops are running out of cash because so many people want to sell ornaments, jewelry and bars amid an economic slowdown. “I’m asking people to sell gradually, not in large amounts, as shops may face a cash crunch,” Prime Minister Prayuth Chan-Ocha said in a briefing Wednesday in Bangkok. The yellow metal remains a popular way for Thais …

The Energy Ministry confirmed the private sector’s call for it to reduce the price of electricity by 5 per cent for large enterprises and is looking into what can be done to help them, Energy Minister Sontirat Sontijirawong has said. He added that initially the Energy Regulatory Commission (ERC) had told the Electricity Generating Authority of Thailand (Egat) and the …

Somchai Jitsuchon, research director at TDRI, an independent think-tank, is pondering the resumption of city life when the nationwide curfew and lockdown ends on April 30. He said many people are sceptical that cities will return to full functioning after the month of lockdown, as it may take longer to get the Covid-19 pandemic under control. Lockdown is a tool …

According to Labour Ministry criteria, employees affected by Covid-19 fall into two groups. The first covers those whose businesses were forced to shut by order of the government. “They will be compensated under Section 33 of Social Security Act with 62 per cent of daily wages based on a maximum monthly salary of Bt15,000 for a maximum period of 90 …

Public transport operators to be increased frequencies of their trips before 10pm to make sure no passengers are left behind when the nationwide curfew begins at 10pm, according to curfew decrees. Transport Minister Saksyam Chidchob said on Thursday (April 9) that “increasing trips will not only facilitate commuters during rush hours, but also promote the social distancing policy in the …

The consumer confidence index dropped to 50.3 points in March from 64.8 points in February, said Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce (UTCC). In addition, the economic confidence index in March stood at 41.6 points, down from 52.5 points in February, while the confidence index on job opportunities contracted from 61.4 points to 49.3 …

As many 1,266 hotels has closed their operations due to being impacted by the COVID-19 outbreak in Indonesia. This report has been received and confirmed by Chief of the Indonesian Hotel and Restaurant Association (PHRI) Hariyadi Sukamdani. Then the hotel employees itself were asked to take leave. “The latest report declared that 1,266 hotels have closed as of yesterday afternoon, …

Tanah Abang Market management introduced this morning that the market which is one in all Southeast Asia’s busiest textile marketplace will remain closed following the extension of the coronavirus (COVID-19) emergency period. Perumda Pasar Jaya president-director Arief Nasrudin says that the Tanah Abang reopening scheduled to take area on April 6 has temporarily been extended to April 19. The transient …

During the coronavirus or COVID-19 pandemic, the Indonesian government advises a work from home policy to most of company in the country, including Pertamina. The state-owned oil and gas company has guaranteed that domestic supplies of fuel and liquefied petroleum gas (LPG) remain secure. The company said its stock of diesel and gasoline, including the highly demanded Pertalite gasoline brand, …

Thai Airways International Plc may permanently reduce the number of aircraft types it deploys once the coronavirus outbreak that has caused the company to ground most of its fleet ends, said a senior government official on Monday. Thai Airways is grounding 69 of its 82 jets following a drop in passenger volume and route cancellations from the increased border restrictions …