1. Interior Ministry said 24-hrs operations of entertainment places in U-Tapao airport complex doesn’t apply to nearby Pattaya and Rayong.
  2. Industrial Estate Authority of Thailand (IEAT) has joined hands with six TH and JP firms to jointly study hydrogen fuel at the Map Ta Phut and Smart Park industrial estates in Rayong, part of efforts to help combat global warming.
  3. Exports decline 10 months in a row: Exports dropped for a 10th consecutive month in July, dipping below the forecast because of a steep reduction in global commodity prices attributed to the conflict in Ukraine last year, which led to a substantial deceleration in export values associated with these commodities. Bangkok Post
  4. Warning over household debt surge: NESDC sounds alarm after 3.6% increase. The National Economic and Social Development Council (NESDC) warns that Thailand’s household debt is continuing to increase, with close monitoring required for auto loans and debt from savings cooperatives, says secretary-general Danucha Pichayanan. Bangkok Post
  5. Perks needed to spur demand: Residential sales in Q2 continued to fall. Perks are required to spur residential demand as housing transfers and sales continued to fall in Q2, according to the REIC. Property incentives are needed to boost residential demand during the remainder of the year as the number of housing transfers and sales in the second quarter continued to drop, according to the Real Estate Information Center (REIC). Bangkok Post
  6. PM Srettha will visit Laos in an attempt to strengthen the nation’s relations.
  7. Handout set to be based on tokens: Move requires central bank approval. The new government is expected to issue utility tokens to support its digital wallet scheme, with the plan requiring the approval of the Bank of Thailand as tokens are currently prohibited for use as payment by the regulator. Bangkok Post
  8. Four Thai banks shutter branches in Laos as costs mount: Four large Thai banks have decided to close their branches in Laos, mainly attributed to tighter regulations and higher regulatory costs while business activities declined. Bangkok Post
  9. Confidence slips amid household debt woes: VAT collection down 10.2% from last July. Household debt reached 15.9 trillion baht in the first quarter of the year, according to the National Economic and Social Development Council. The consumer confidence index dropped to 55.6 in July from 56.7 the previous month as consumers were concerned about household debt, says Fiscal Policy Office directorgeneral Pornchai Thiraveja. Bangkok Post
  10. Bureau expects budget in 8 months: The Budget Bureau expects the 2024 Budget Expenditure Act to be delayed by up to eight months, according to a bureau source who requested anonymity. The bureau assigned government agencies to develop an eight-month plan for expenditure budgets to maintain state services while awaiting the approval of the fiscal 2024 expenditure budget, said the source. Bangkok Post

+ a bonus 3

  1. Ad spending in 2023 to grow by only 2.5%: Budgets cut amid lower consumption. Mr Pawat says out of home media is expected to grow by 10% to 12 billion baht in 2023 as people are spending more time outdoors following the pandemic. Media spending in 2023 is expected to grow by only 2.5%, lower than the previous forecast of 5% growth, as advertisers tighten their budgets amid lower consumer purchasing power, according to leading creative agency Media Intelligence. Bangkok Post
  2. BoT gauges effect of handout: Could have 3% impact on GDP. The central bank assesses the 10,000baht digital wallet handout would contribute 3% to GDP growth next year. The Bank of Thailand expects the Pheu Thai Party’s proposed 10,000-baht digital handout scheme will require a total budget of around 560 billion baht, adding 3% to GDP growth next year. Bangkok Post
  3. According to plan: Rice exports are projected to reach 8 million tonnes this year as targeted after shipments through Aug 29 tallied 5.29 million tonnes, up 11.9% year-on-year, according to the chief of the Department of Foreign Trade. Ronnarong Phoolpipat, directorgeneral of the department, said yesterday the increase in rice exports is consistent with concerns about the drought caused by the El Niño weather phenomenon, India’s ban on non-basmati white rice exports, the decline in China’s rice production, the eagerness of several countries to import rice to ensure food security, and a competitively valued baht. Bangkok Post

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