Thailand Post performance in first half exceeds expectations – Thailand Post Co reported higher-than-expected revenue and profit in the first six months of Bt11 billion and Bt1.3 billion respectively, thanks to the rapid growth of its delivery service to serve the booming e-commerce sector. (The Nation,15/8/15)
B3.4 trillion for projects over 8 years – The government has earmarked 3.38 trillion baht for eight years’ worth of infrastructure projects, says Deputy Transport Minister Arkhom Termpittayapaisith. (Bangkok Post, 18/8/15)
Telecom committee raises minimum bid for 1,800MHz licences – The telecom committee of the National Broadcasting and Telecommunications Commission yesterday approved an increase in the minimum starting bid for each of two licences on the 1,800-megahertz spectrum to Bt15.912 billion, or 80 percent of the full spectrum price. (The Nation, 20/8/15)
PPP projects to start in January; process expected to take 14 months before construction commences in 2017 – the Economic Stimulus Committee, chaired yesterday for the last time by Finance Minister Sommai Phasee, said the process for forming public-private partnerships (PPPs) for infrastructure projects, including two high-speed rail routes, would begin by January – with construction work expected to commence in the first half of 2017. (The Nation, 20/8/15)
Disbursement misses goal – The Budget Bureau reported to the cabinet’s meeting yesterday that as of last month 2.062 trillion baht had been disbursed for fiscal 2015, making up 80.1% of the total budget – below the target of 81.9%. The total budget for 2015 is 2.575 trillion baht. But regular disbursement was higher than the target of 82.7% of a total 2.125 trillion baht, with 1.82 trillion disbursed accounting for 85.7% of the total budget. Of the total investment budget worth 449.77 billion baht, just 240.58 billion or 53.5% was disbursed, well below the target of 77.6%. (Bangkok Post, 19/8/15)
Eurozone GDP up by 0.3 pct in Q2 – The seasonally adjusted GDP rose by 0.3 percent in the eurozone during the second quarter of 2015 over the previous quarter, according to the flash estimates published by Eurostat, the statistical office of the European Union (EU) on Friday. (Xinhua, 14/8/15)
China’s Transition to Slower But Better Growth – China is moving to a “new normal” of slower yet safer and more sustainable growth. This involves giving the market a more decisive role in the economy, says the IMF in its annual assessment of the economy. China’s growth is expected to be 6.8 percent in 2015, down from 7.4 percent last year. This slowdown, in line with the government’s target of around 7 percent, reflects progress in addressing vulnerabilities, especially a needed moderation in real estate investment. The recent stock market correction will not derail the ongoing adjustment to a slower yet more balanced growth path, the report says. (IMF, 14/8/15)
Greek Prime Minister Alexis Tsipras Resigns, Clearing Way for Elections in Bid to Uphold Bailout Deal – Greek Prime Minister Alexis Tsipras resigned in a bid to trigger snap elections and return to power stronger, plunging his country into weeks of political paralysis just as it seemed to have scraped through a summer of fraught bailout talks and near-bankruptcy. (WSJ, 20/8/15)
China’s central bank injects 120 bln into market – The People’s Bank of China (PBOC), the central bank, pumped 120 billion yuan (18 billion U.S. dollars) into the money market via open market operations on Tuesday. (Xinhua, 18/8/15)
Somkid set to join Cabinet – PM Prayut Chan-o-cha said yesterday he had submitted a Cabinet reshuffle for Royal endorsement on Monday. The PM did not give details of the changes, however the reshuffle is expected to be a major one. Prayut said last week he would switch some ministers and there would be outsiders and others who must go. Meanwhile, the economic adviser to the National Council for Peace and Order, Somkid Jatusripitak, has resigned as chairman of Saha Pathana Inter-Holding Plc, saying he had a new mission to pursue. The resignation took effect on August 17, the company said. It is anticipated that Somkid will be replacing Deputy Prime Minister for Economic Affairs Pridiyathorn Devakula. (The Nation, 19/8/15)
