City Bangkok Financial News

Pattaya or a spa in Bangkok? Well, that could be a reality if India can pull off a currency deal with Thailand, which has emerged as one of the preferred destinations for holidays, conferences and corporate offsites, especially since the visa relaxation last year. Now, there are early signs that the government and the Reserve Bank of India (RBI) may be pondering over popularising the local unit in the South-East Asian country. The central bank recently asked banks to share their inputs and expectations on the level of transactions linked to Thailand. Authorised dealer banks issuing foreign exchange have a fair idea of travellers’ destinations, besides having latest information on international card spends and trade invoices. “They have asked for our feedback. I think there are plans of some rupee arrangement with Thailand. It’s in the early stages, as far as we can make out,” a senior banker told ET.

Bangkok, April 11, 2024 – Southeast Asia Blockchain Week (SEABW), a premier blockchain conference exploring the evolving landscape of Web3 in the Southeast Asia region, is thrilled to announce the speaker lineup for the main SEABW conference. The headline speakers include Aptos Co-Founder and CTO Avery Ching, Animoca Brands Co-Founder & Chairman Yat Siu, SCBX Deputy CEO Arak Sutivong, Hashed CEO & Managing Partner Simon Kim, Nansen CEO Alex Svanevik, YGG Co-founder Gabriel Dizon, Wintermute Co-founder Yoann Turpin, and The Spartan Group Co-founder & Managing Partner Kelvin Koh.

Thailand’s state authorities held a meeting on Tuesday, calling to regulate peer-to-peer (P2P) cryptocurrency purchases and comprehensively prevent online fraud.

China's Finance Ministry has denounced a report by Fitch Ratings that kept its sovereign debt rated at A+ but downgraded its outlook to negative

Shares are mixed in Asia after U.S. stock indexes held at a near standstill ahead of some potentially market-moving reports

Shares are mixed in Asia after U.S. stock indexes held at a near standstill ahead of some potentially market-moving reports

Thailand’s Prime Minister Srettha Thavisin has revealed details of his government’s plan to stimulate the economy by giving digital cash handouts of 10,000 baht ($275) to an estimated qualifying 50 million Thais for spending at their local businesses

India slipped to their lowest level since early February this week, pressured by sluggish demand, while Thai rates declined for the fourth consecutive week due to a weaker baht. Top exporter India's 5% broken parboiled variety was quoted at $540-$548 per ton this week, down from last week's $550-$558. Prices hit a record high of $560 last month after customs officials changed the calculation method for the 20% export duty, resulting in a higher levy. Demand from Asian buyers was subdued, which brought down prices from the last month's highs, said Himanshu Agarwal, executive director at Satyam Balajee, a leading exporter.

A World Bank report says Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5% this year from 5.1% in 2023

Asian shares have ended mostly higher in quiet, Good Friday holiday trading and European and U.S. markets were closed

Thailand’s government has ordered officials to closely monitor livestock along the border with Laos after more than 50 people were reported to have contracted anthrax in the neighboring country

Chinese electric vehicle makers are showcasing their latest models, including a flying car, as they take on global rivals at the Bangkok International Motor Show

BANGKOK (Reuters) — Car production in Thailand fell 19.28% in February from a year earlier to 133,690 units, the Federation of Thai Industries said on Tuesday, largely due to a decline in production of pickup trucks and more imported electric vehicles (EVs).

Vietnam's president has resigned as the ruling communist party in the latest episode of a “blazing furnace” anti-corruption campaign

BANGKOK (Reuters) — Thailand's government is forging ahead with a 500 billion baht ($13.9 billion) handout scheme and may still need to borrow to finance it, a deputy finance minister said on Wednesday.

Holi 2024: Holi, also known as the festival of colour, is the most vibrant and eagerly anticipated Hindu festival that is celebrated across India in the Phalguna month (February or March). This year, Holi falls on March 25, and Holika Dahan is celebrated a day ahead, i.e., March 24. In India, there are some spectacular destinations for Holi where the festival is celebrated in a deeply traditional manner.

Troubled property developer China Evergrande Holding says Beijing's stock watchdog has fined it 4.2 billion yuan ($333.4 million) for allegedly falsifying its revenue, among other allegations

Bitcoin is set to continue its record-breaking rally and rise above $80,000 as institutional investors pour more money into the crypto-backed exchange-traded funds, according to Binance chief executive officer Richard Teng. The launch of Bitcoin ETF in the US earlier this year has attracted institutional investors and new fund flows, Teng said at an event in Bangkok on Sunday, adding «we're just getting started.»

Binance CEO Richard Teng forecasts that Bitcoin will surpass $80,000 before the year ends. He attributed this likely increase to the growing interest from institutional investors in crypto-backed exchange-traded funds (ETFs).

Asian stocks are higher ahead of policy decisions this week by Japan's central bank and the Federal Reserve

Thailand approved a crypto tax break for individuals holding investment tokens on March 13 to encourage the use of these tokens for fundraising purposes.