Thai economy contracts in first quarter

West Australian - Monday 20th May, 2013

BANGKOK (AFP) - Thailand's economy shrank 2.2 percent in the three months to March from the previous quarter -- the first contraction in more than a year -- as manufacturing output fell, official data showed on Monday.The decline followed a blistering year-long recovery from devastating floods in late 2011 that hit major factories north of the capital Bangkok and caused a double-digit drop ...

Thailand Cuts 2013 GDP Outlook As Q1 Growth Slows More Than Expected

RTT News - Monday 20th May, 2013

Thailand lowered its full-year growth outlook after weaker domestic demand and exports weighed on economic activity in the first three months of the year. Gross domestic product expanded 5.3 percent year-on-year in the first quarter of 2013 compared to an upwardly revised 19.1 percent growth in the fourth quarter of 2012, the National Economic and Social Development Board (NESDB) said Monday. ...

Thalang defense volunteer charged for illegal possession of a firearm

Phuket Gazette - Monday 20th May, 2013

PHUKET: A Thalang defense volunteer was charged with illegal possession of a firearm and ammunition after being pulled over at a checkpoint in Phuket.Krit Meesit, 52, wearing military trousers and a black shirt ...

Phuket tourist hits pedestrian on Thepkrasattri Road

Phuket Gazette - Monday 20th May, 2013

PHUKET: A tourist arriving on Phuket from Bangkok in his pick-up truck last night struck an unidentified man who allegedly had stepped out into one of ...

UPDATE 2-Thai Q1 GDP shrinks adding to govt pressure for rate cut

Reuters - Monday 20th May, 2013

Mon May 20, 2013 3:09am EDT * Q1 GDP q/q -2.2 pct vs poll -0.8 pct, revised +2.8 pct in Q4 * Q1 GDP y/y +5.3 pct vs poll's +5.7 pct, Q4 revised +19.1 pct * 2013 GDP growth forecast cut to 4.2-5.2 pct * Domestic demand slows, exports soft (Adds detail, economists' comments) By Orathai Sriring and Kitiphong Thaichareon BANGKOK, May 20 (Reuters) - Thailand's economy contracted more ...

Asians abroad remit 260 billion dollars home in 2012

The Nation - Monday 20th May, 2013

Some 60 million Asian workers abroad remitted 260 billion dollars to their home countries last year, making up 63 per cent of global remittance flows, the United Nations said Monday. "An estimated 70 million Asian households benefit from theseflows," a report by the UN and the World Bank said. Worldwide remittances amounted to 410 billion, it ...

Thailands GDP contracts 2.2 in Q1

MENAFN - Monday 20th May, 2013

(MENAFN) Thailand's National Economic and Social Development Board (NESDB) stated that the country's gross domestic product (GDP) contracted a seasonally adjusted 2.2 percent from the previous quarter, reported Reuters.The quarterly contraction is the first since 2011's last quarter, when severe flooding caused a reduction of 10.5 percent.The NESDB also lowered its full-year ...

Listed companies earnings up 13.5 in Q1

The Nation - Monday 20th May, 2013

Thailand's listed companies showed the 13.5 per cent increase in quarterly earnings, according to data from DBS Vickers Securities (Thailand). Their combined net profits in the first quarter reached Bt244 billion. Among all stocks, those in the securities sector showed the highest year-on-year earning growth, at 222 per cent, thanks to the increase in average daily turnover in the stock ...

SET climbs to 1639.42pts

The Nation - Monday 20th May, 2013

Optimism remains in the Stock Exchange of Thailand, despite a revision in the economic growth forecast. At mid-day, the SET index gained 11.46 points or 0.70 per cent to 1,639.42 points, the highest in 19 years. Turnover was brisk at Bt27.7 ...

Phuket taxi driver to face abduction drug charges

Phuket Gazette - Monday 20th May, 2013

Paitoon Kruain (right), 32, who independently operated an illegal taxi at Phuket International Airport, has denied the allegations against him. Photo: Kritsada ...

Yahoo to pay 1 billion dollars for blog site Tumblr reports say

The Nation - Monday 20th May, 2013

New York - Internet veteran Yahoo Inc agreed to buy the blogging site Tumblr Inc in a deal worth over 1 billion dollars, US media reported Sunday. An official announcement was expected on Monday. The Yahoo board of directors unanimously approved an all-cash deal worth 1.1 billion dollars, according to the Wall Street Journal. The two companies were in serious talks last week and the deal was ...

Lottery ticket sold in Florida wins record 590.5 million dollars

The Nation - Monday 20th May, 2013

Washington - A single US Powerball lottery ticket holder in Florida won 590.5 million dollars, the biggest payout in the history of the game, media reports said. The ticket was sold at a supermarket in Zephyrhills, in the state of Florida, NBC News said, citing local lottery officials. Two winners shared the previous Powerball record payout of 587.5 million dollars in ...

STOCKS NEWS THAILAND-Italian Thai at 2-month high on mine sale hopes

Reuters - Monday 20th May, 2013

Mon May 20, 2013 12:46am EDT Shares in Italian Thai Development Pcl gained as much as 2.9 percent to a two-month high of 9 baht on expectations the builder would book a strong gain from a stake sale in its domestic potash mine seen later this month. Bualuang Securities pegged resistance for the stock at 9.25 baht as it expects the potash mine would be sold at a price higher than market ...

Rising costs greatest threat to Thai govt

Asia News Network - Monday 20th May, 2013

The increasing cost of living was cited as the major factor threatening to weaken public support for the Yingluck government in a poll by Assumption University. Higher cost of living was cited as the most likely cause of a drop in support for the government by 85.2 per cent of the 2,115 respondents in 17 provinces. Charter amendment (81.9 per cent) was the second most cited threat to the ...

GDP expands 5.3 in Q1

The Nation - Monday 20th May, 2013

Thailand's real gross domestic product expanded 5.3 per cent year on year in the first quarter this year, according to the Office of National Economic and Social Development Board. Compared with growth rate of 18.9 per cent in the fourth quarter last year, the GDP contracted 2.2 per cent, according to the think ...

Thailand concerned over high speed rail project delays

Travel Blackboard - Sunday 19th May, 2013

Thailand’s leaders say they’re concerned delays of the high speed rail link between Thailand and Laos via China could continue, after the Laos side placed the project on hold over Chinese involvement. Speaking at a Thai and Laos cabinet meeting last week, Thailand Prime Minister Yingluck Shinawatra said his cabinet has convened with Lao’s government about the delay, and ...

Four arrested for hotel blast in southern Thailand

Asia News Network - Sunday 19th May, 2013

Four suspects were arrested yesterday in connection with an explosion at a Narathiwat hotel in the morning that left six people injured. The bombing took place at around 11am at Asia Hotel, in Sungai Kolok district of the southernmost Muslim-majority province. Room Nos 306 and 307 on the third floor of the hotel were severely damaged. The impact of the explosion brought down the ceilings of ...

Red-shirts mass rally held in capital of Thailand

SINA - Sunday 19th May, 2013

Thousands of supporters of the United Front for Democracy against the Dictatorship (UDD), or the Red shirts, rally to commemorate the third anniversary of the military crackdown on the anti-government protesters in the main shopping district of Bangkok, capital of Thailand, May 19, 2013. (Xinhua/Gao ...

Thai PM has no plan to reshuffle Cabinet

Asia News Network - Sunday 19th May, 2013

PM secretary-general Suranand Vejjajiva yesterday dismissed media reports that Prime Minister Yingluck Shinawatra is planning a Cabinet reshuffle. Red-shirt leaders Jatuporn Prompan, Apiwan Wiriyachai and Pakorn Buranupakorn were reported to be likely appointments as ministers in the next Cabinet reshuffle expected early next month, according to a source from the ruling Pheu Thai Party. ...