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Banking

Four banks to close all BK branches

As the situation is escalating, the Bangkok Bank, Krung Thai Bank, Kasikornbank and Siam Commercial Bank will close all of their Bangkok branches at 1pm on Wednesday, Prasarn Trairatvorakul, chairman of the Thai Bankers Association said.

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As the situation is escalating, the Bangkok Bank, Krung Thai Bank, Kasikornbank and Siam Commercial Bank will close all of their Bangkok branches at 1pm on Wednesday, Prasarn Trairatvorakul, chairman of the Thai Bankers Association said.

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Four banks to close all BK branches

Financial markets have so far been accommodative of the government’s borrowing plans. The expansion of expenditures stemming from the stimulus packages combined with a decline in revenues due to the economic crisis has led to an increase in the fiscal deficit and, consequently, government debt ratios, which have reached 45 percent of GDP in September. Because Thailand entered the crisis with a relatively strong fiscal position, the cyclical increase in debt levels is not by itself a concern as long as Thailand’s historical fiscal performance is maintained in the future.

FDI policies

The country’s well-defined investment policies focus on liberalization and encourage free trade. Foreign investments, especially those that contribute to the development of skills, technology and innovation are actively promoted by the government. Thailand consistently ranks among the most attractive investment locations in international surveys, and the World Bank’s 2010 Ease of Doing Business report places Thailand as the 12th easiest country in the world in which to do business.

Government support and incentives are provided for foreign investors in Thailand

Numerous government agencies support investors. Through the Board of Investment, the government offers a range of tax incentives, support services and import duty exemptions or reductions to an extensive list of promoted activities.
Companies receiving investment promotion privileges from the Board of Investment are not subject to foreign equity restrictions in the manufacturing sector, and there are no local content requirements nor export requirements, as Thailand’s investment regime is in total compliance with WTO regulations.
The Board of Investment also coordinates the activity of the One-Stop Service Center for Visas and Work Permits, which enables foreign staff of BOI-promoted companies to obtain work permits and long-term visas within three hours or less.
The BOI also administers the One Start One Stop Investment Center, which opened in November 2009 to facilitate a full range of services and streamline investment procedures by bringing representatives from more than 20 government agencies under one roof.
In addition to the activities of the BOI, other government organizations, such as the Department of Export Promotion and international chambers of commerce, provide invaluable support and a host of other important services.

Thailand’s geographical advantage favors transforming Thailand to be the energy hub of the region

The course of Thailand’s electricity industry development has set forth a goal of greater efficiency – both on the supply side and demand side. The aim is to ensure the optimization of energy resources and minimization of environmental impacts, with an ultimate goal of sustainable energy development. On the other hand, the industry has also had to properly adjust to economic and social changes as well as national energy policies and strategies over the past decades.
For some time, the government has encouraged more private participation in the electricity generation business in order to reduce the public investment burden and enhance greater competition in the industry.

In compliance with the national policy, EGAT established and listed the Electricity Generating Public Company Limited (EGCO), the country’s first independent power producer (IPP), in 1992 to mobilize funds from the stock market for its power investment, followed by the privatization of Ratchaburi Electricity Generating Holding Public Company Limited (RATCH), EGAT’s subsidiary founded in 2000.

Banking

Bow to Beijing a low move by HSBC

HSBC has put money before morality to back China’s new security law: one that’s an assault on the freedoms of Hong Kong’s people.

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Luckily for HSBC, it’s headquartered in Britain: a country where you can say what you like about Boris Johnson and his shambolic handling of the pandemic.

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Banking

How China’s role in global finance has changed radically

Within the space of just 15 years, China has gone from being the largest net lender to the world to now being a net borrower. The implications for the global economy, and China’s role within that economy, could be significant.

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‘If you owe the bank $1 million, you have a problem. But if you owe the bank $1 trillion, then the bank has a problem’. It’s an old gag, but it underscores an important point: the size of your borrowing or lending can have profound implications for your role in the world.

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Banking

Could China’s financial repression be good for growth?

China’s financial reform and development over the past four decades could be described as strong in establishing financial institutions and growing financial assets, but weak in liberalising financial markets and improving corporate governance.

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When China began economic reform in 1978, it had only one financial institution — the People’s Bank of China. As a centrally planned economy, the state arranged the transfer of funds and there was little demand for financial intermediation.

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