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THAI holds aircraft anointing ceremony for Airbus A330-300 and Airbus A340-600

Somdej Phra Maha Muneewong (far left), Abbot of Wat Rajabopit Sathitmahasimaram Rajaworavihara, presided over the Aircraft Anointing Ceremony for Thai Airways International Public Company Limited’s two aircraft, Airbus A330-300 royally bestowed the name “Sakon Nakhon” and Airbus A340-600 royally bestowed the name “Mae Hong Son”.
Ampon Kittiampon (second left), THAI’s Chairman of the Board of Directors, Sorajak Kasemsuvan (third left), THAI President, Chokchai Panyayong (fourth left), Senior Executive Vice President of Commercial, and Pandit Chanapai (sixth left), Managing Director of Ground Services Business Unit, were present at the anointing ceremony held at THAI’s Technical Department, Suvarnabhumi Airport.
Both aircraft are equipped with state-of-the-art passenger seats and personal screens with the latest in-flight entertainment system in all classes of travel. Currently, THAI has 96 aircraft in its fleet.


World Bank to lower Thai GDP from 5% to 4-4.5%

The World Bank will adjust its forecast of Thailand’s gross domestic product (GDP) for this year from 5 percent to 4-4.5 percent due to lower economic and export growth, a bank senior economist said last weekend.
Kirida Bahopichitr said the Thai economy was not in recession but expansion was slight compared to last year when the country enjoyed a high GDP growth thanks to the government’s post-flood revival measures and other economic stimulus.
She predicted a higher economic growth next year when the economic fundamentals would return to normal and the global economy would possibly bounce back - a positive factor for Thailand’s export sector.
The government’s investment on infrastructure development will be clearer next year while the tourism industry will remain sound and the interest rate favourable to investment, she said.
Kirida said overall consumption would be rather stagnant due to high household debt.
She indicated that the weakened baht at Bt32 against the dollar resulted from several factors including capital outflows given investor concerns over the US Federal Reserve’s slowdown on quantitative easing (QE) and the country’s current account deficit.
The senior economist was optimistic that the global economy would improve and the US monetary policy on QE would not be to harsh, contributing to Thailand’s export growth and surging foreign investment in Asia and Thailand.
Asia will become the hub of economic growth in the next decade and Thailand has to be well prepared for the future capital movements, she said.
Kirida ruled out speculations that the baht would be attacked and weakened as with the Indonesian and Indian currencies, explaining that, unlike in the past, the Thai baht’s floating exchange rates were well managed and the Thai economic fundamentals were solid. (MCOT)


Rubber growers to stage mass rally on Sept 3

Rubber growers nationwide plan to stage a mass rally to protest against the continued falling prices of rubber and urge the government to implement measures to shore up the declining prices.
Sompong Rajsuwan, chairman of rubber growers association in Songkhla, said the committee of Rubber Planters Network of Thailand has agreed at a meeting to stage rallies of rubber planters nationwide on September 3, aiming to call on the government to tackle the price problem.
He said the network has submitted the request to the government since July 24 but there has been no action from the government to help restore the falling price of rubber.
The price of smoked third-class raw rubber sheet should be Bt101 per kilo, raw rubber sheet at Bt92 per kilo and rubber latex was expected to stand at Bt81 per kilo but they were now averaging around Bt60 per kilo, which is unfair for growers, he said.
Sompong said that on September 3, rubber planters from 14 southern provinces would gather at a cooperative office in Surat Thani, growers from the northeastern and north would gather at a meeting point which would be specified later while farmers from central and eastern provinces would go to meet Prime Minister Yingluck Shinawatra at Government House.
He said the gatherings would be held peacefully and they were waiting for the government’s response on measures to assist rubber growers. (MCOT)


Deputy PM Kittiratt rules out recession for Thai economy

Deputy Prime Minister/Finance Minister Kittiratt Na-Ranong insists that Thailand’s economy is not in recession and the government will strictly adhere to the application of its economic stimulus measures which were announced earlier.
He brushed aside a quarter-by-quarter comparison of economic growth but said he would rather concentrate on year-to-year collation, which he implied was more standard.
Thailand enjoyed economic growth in Q2 this year compared to the corresponding period last year, he said.
Kittiratt said the government would follow its economic stimulus measures approved by the Cabinet on August 6, without need for additional resolutions.
He said the government would emphasize its Bt2 trillion investment in transportation infrastructure which will benefit the country in the long run.
The deputy premier said Parliament would be allowed to extensively debate the bill on the proposed Bt2 trillion in borrowing to finance the mega projects.
He said the depreciating baht would contribute positively to Thailand’s exports.
The country’s national reserves are at US$170 billion, and the Bank of Thailand should use its Bt3 trillion financial liquidity to cushion the currency exchange and interest rate, he said. (MCOT)


 
HEADLINES [click on headline to view story]]

THAI holds aircraft anointing ceremony for Airbus A330-300 and Airbus A340-600

World Bank to lower Thai GDP from 5% to 4-4.5%

Rubber growers to stage mass rally on Sept 3

Deputy PM Kittiratt rules out recession for Thai economy

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