Previously seen as a disruptor to traditional banking methods, blockchain technology is now being adopted by banks in Thailand. In an unprecedented move last week, 14 banks came together and jointly launched the Thailand Blockchain Community Initiative.Apart from the 14 commercial banks, the Thailand Blockchain Community Initiative will also involve seven corporations and state enterprises.
Thailand’s economic growth could once again exceed 4 percent this quarter with a subsidy for the poor boosting consumption, a senior finance official said.“They spent almost 100 percent” of the money, said Suwit Rojanavanich, director-general for the Finance Ministry’s fiscal policy office, referring to 10 million low-income earners who started receiving as much as 300 baht (9 dollars) a month in October.The program is very successful and along with state spending and investment will boost gr
Thailand’s economy grew faster than economists estimated last quarter, boosted by strong exports and rising tourist arrivals.Highlights of the GDP report Gross domestic product rose 4.3 percent from a year ago after expanding a revised 3.8 percent in the previous three months, the National Economic and Social Development Board said the median estimate of 19 economists surveyed by Bloomberg was 3.9 percent GDP rose a seasonally adjusted 1 percent in the third quarter compared with the previous
An economic boom that’s reverberated across Southeast Asia has finally crossed over to Thailand.The economy, which has lagged its neighbours this decade, is projected to have grown at the fastest pace in more than four years last quarter even as the baht surged.
Thailand’s already “very accommodative” monetary policy is fuelling robust growth that’s spreading across the economy, said Bank of Thailand Governor Veerathai Santiprabhob.The outlook comes as an exports revival in Thailand gains momentum despite a recent rise in the nation’s currency, the baht. Better demand from key trading partners is helping to offset strength in the exchange rate, Veerathai said.
A public rift between Thailand’s central bank and government on interest rates shows just how much of a dilemma the baht has become for the economy.The Finance Ministry is pushing the Bank of Thailand to cut interest rates to stimulate growth, in light of the strength of the currency and low inflation.
Malaysia celebrates the 60th anniversary of its independence from the British Empire on August 31, 2017. For sixty years, this proud Southeast Asian nation has adopted its own currency that is known today as the ringgit. Following the story and the origins of the ringgit, The ASEAN Post met with a Malaysian currency collector in the outskirts of Kuala Lumpur - the capital city of Malaysia.
