http://www.biz-day.com/economy/ Business Day Economy Headlines en-us BANGKOK, Oct 1 ' The SME confidence index increased in August since the political and economic situation has improved, according to the Small and Medium-sized Enterprise Promotion Office.'Chitraporn Taechacharn, the office's director general, said the index rose to 43.8 from 41.8 in July with all categories ranging from the wholesale, retail, and service sectors edging up to 43.7, 41.9, and 45.8 from 41.4, 41.7, 42.1, respectively.'The SME confidence indexes on the country's... http://www.biz-day.com/read/economy/01_oct_07/dx8hk-b/sme_confidence_index_edges_up_august.htm BANGKOK, Sept 22 - Sales of jewellery and ornamental products in Thailand declined by half while their exports rose only 10 per cent from last year's, a senior official said Saturday.' 'Pornchai Chuenchomlada, president of the Jewellery Traders' Association, said current political turbulence in Thailand had forced foreign tourists to shun the kingdom, causing sales of jewellery and ornamental products which normally stood between Bt30-40 billion annually, to drop by as much as 50 per... http://www.biz-day.com/read/economy/23_sep_07/grvm9-7/local_sales_exports_of_thai_jewellery_tumble_this_year.htm BANGKOK, Sept 19 - Thai Commerce Minister Krirkkrai Jirapaet on Tuesday expressed confidence that Thailand's exports of gems and jewellery would grow at least 10 per cent this year.'Speaking after presiding over the 40th Bangkok Gems and Jewellery Fair being held in Muang Thong Thani September 18-22, he said that the organisation of the fair helped boost the recognition and sales performance of Thailand's precious stones and jewellery in international markets.'Last year, the country's... http://www.biz-day.com/read/economy/20_sep_07/f6pc6-s/commerce_minister_upbeat_over_gems_jewellery_exports.htm PHUKET, Dec 25 - More than Bt 1billion (over US$27 million) in tourism revenue is expected to flow into this Andaman Sea resort town on the eve of the New Year celebrations, as substantial numbers of hotel rooms on the region's breathtaking beaches have been fully booked.'Patong Beach Hoteliers' Club president Krisada Tansakul said that this season's hotel accommodations on famous Patong Beach have been fully booked from December 24 through January 15 next year.'Most tourists are... http://www.biz-day.com/read/economy/24_dec_06/bzxni-a/bt1bn_likely_flow_phuket_new_year_festival.htm BANGKOK, Dec 19 - Thai Deputy Prime Minister and Industry Minister Kosit Panpiemras on Monday conceded that the continuing foreign capital inflows from abroad, unabated at present, are unusual and that most flowed into Thailand purely for speculation on the bath.'He said the Bank of Thailand is quite aware, having gathered data, and that it has assessed the situation and the provenance of the unusual capital movements.'However, the central bank needed more time to respond appropriately with... http://www.biz-day.com/read/economy/19_dec_06/cixc9-z/unusual_foreign_capital_inflow_risk_says_deputy_premier.htm PATTAYA, Dec 9 - Narongchai Akrasanee, chairman of the Export-Import Bank of Thailand, warned on Saturday that the government should encourage more savings in the country and invest only in important projects in order to avoid a repetition of the financial crisis which hit Thailand in 1997.'Speaking to a seminar organised by Thailand Development Research Institute (TDRI) in this seaside resort southeast of Bangkok, Mr Narongchai said that the 1997 financial crisis was caused by a lack of... http://www.biz-day.com/read/economy/09_dec_06/jm6tz-y/gov_t_urged_promote_savings_invest_key_projects.htm Bangkok, Dec 4: The government raised its 2006 growth forecast Monday after the Thai economy expanded more than expected in the third quarter, when a military coup capped seven months of political turmoil.'Analysts said the quarterly growth of 1.5 percent, adjusted for seasonal patterns, in gross domestic product and annual expansion of 4.7 percent would persuade the central bank against cutting interest rates when it reviewed policy next, on Dec. 13.'"Even though the pressure on the... http://www.biz-day.com/read/economy/04_dec_06/er57m-k/thai_economy_expected_grow_5_percent_this_year.htm BANGKOK, Nov 27 - The Thai government plans to reduce taxes on both personal income and corporate tax, as well as insurance fee for entrepreneurs in five southern provinces. Details of the plan will be submitted for Cabinet approval on December 6. ' 'Deputy Prime Minister and Finance Minister Pridiyathorn Devakula presided over a meeting Monday entitled "A Special Economic Zone in Southern Thailand".'Present in the meeting were Commerce Minister Krirkkrai Jirapaet, Deputy Interior... http://www.biz-day.com/read/economy/27_nov_06/ejksh-x/tax_cuts_investment_promotion_proposed_5_southern.htm BANGKOK, Nov 18 - Parliamentarians from more than 100 countries will convene in Bangkok for an International Conference on Population and Development (ICPD) scheduled to be held here, Gen. Jaral Kullavanich, deputy chairman of Thailand's National Legislative Assembly (NLA) announced Friday.'HRH Princess Maha Chakri Sirindhorn will preside at the opening ceremony of the two-day conference, to be held Nov 21-22 at the United Nations Conference Centre and hosted by the Thai parliament, he... http://www.biz-day.com/read/economy/18_nov_06/ggwbw-8/thailands_hosts_world_parliamentary_conference.htm BANGKOK, Nov 15 - The Thai government has increased the state budget for 2007 to Bt1.56 trillion (about US$46.285 billion) upon finding that debt burdens incurred from various projects launched by the previous government totalled over Bt100 billion (about US$2.737 billion).'Deputy Prime Minister and Finance Minister Pridiyathorn Devakula said the cabinet on Tuesday revised the budget for 2007 by raising expenditure to Bt1.5662 trillion (about US$42.982 billion) from Bt1.52 trillion (about... http://www.biz-day.com/read/economy/15_nov_06/gi2c4-d/thailand_raises_national_budget_2007.htm BANGKOK, Oct 9 - The Thai Bankers' Association's Chairman Jada Wattanasiritham on Monday voiced confidence investors would be more certain in the country's economy after they saw a face of the new cabinet line-up and loan applications and private investment would return to rise conspicuously late this year.'She said each cabinet member had competency and expertise in a given assignment and is qualified for a respective post.'Khunying Jada, who is also president of Siam Commercial Bank,... http://www.biz-day.com/read/economy/09_oct_06/ipc7i-m/top_bankers_satisfied_with_new_cabinet_line_up.htm Bangkok, Oct 6: The IMF has said that last month's military coup in'Thailand won't be affecting the growth prospects for Southeast Asia's'second- largest economy.'A spokesperson for the IMF revealed that the organization has kept its'projections for Thailand's growth unchanged at 4.5 percent this year'and 5 percent in 2007. Growth last year was 4.5 percent.'"The reaction of markets has been relatively calm. Economic prospects'are overall quite favorable if the political situation... http://www.biz-day.com/read/economy/06_oct_06/hdwr5-3/coup_hasn_t_hurt_growth_prospects_imf.htm BANGKOK, Sept 29 - The Thai economy slowed in August compared to July, according to key economic indicators released by the Fiscal Policy Office Thursday.'Ministry of Finance fiscal policy office deputy director Somchai Sajjapongse said the overall picture of the Thai economy in August saw consumption and private investment slowing, although the country's foreign currency reserve remains at a secure level.'Output and employment, as well as commodity prices in the agricultural sector, all... http://www.biz-day.com/read/economy/29_sep_06/dx6t6-y/thai_economy_sluggish_august.htm BANGKOK, Sept 25 - Explaining Thailand's recent coup d'etat is not as difficult as it might seem, according to a top Ministry of Industry official just returned from a investment-oriented mission to the United States. ' 'Despite condemnation of the coup by the US Department of State, television viewers were able to see the Thai public welcoming soldiers and their tanks with roses and yellow ribbons.' 'The point was not lost on the American public, and investors, according to Permanent... http://www.biz-day.com/read/economy/25_sep_06/bebfq-p/industry_ministry_chief_upbeat_explaining_coup.htm BANGKOK, Sept 25 - Thailand will rebound into high-performance mode if real political reform takes place, a leading investment fund manager said Monday.' 'Thailand's gross domestic product (GDP) in 2007 will likely be higher than this year if the new government is comprised of persons with knowledge, capability--and the courage to eliminate corruption, a leading Thai fund manager said Monday. 'Kasikorn Asset Management Co chairman, Piyasawasti Amranand, predicted that economic growth next... http://www.biz-day.com/read/economy/25_sep_06/hu542-g/fund_manager_calls_courage_eliminate_corruption.htm SINGAPORE : The IMF got the go-ahead Monday to launch the most ambitious reform in its six-decade history while the World Bank was given a blunt warning against losing sight of its anti-poverty mission as it battles corruption. 'By an overwhelming vote of its 184 members, directors of the International Monetary Fund were empowered to boost the voting rights of China and three other dynamic economies, South Korea, Turkey and Mexico. 'The change, which sparked opposition among some European... http://www.biz-day.com/read/economy/19_sep_06/zgcu5-8/imf_launches_ambitious_reform.htm THE COUNTRY may post its first budget deficit in four years in 2006 after the government received less- than-expected revenue from taxes as the economy slows, a government spokesman said.'Revenue will probably total 1.34 trillion baht ($35.7 billion) for the year ending September 30, about 24 billion baht less than projected in the budget bill, government spokesman Surapong Suebwonglee told a press briefing in Bangkok. The government had planned to balance the budget this year by spending 1.36... http://www.biz-day.com/read/economy/29_aug_06/dn3wd-r/first_budget_deficit_4_years_may_be_posted.htm To ease publicly-expressed displeasure of Thai Airways International (THAI) staff moving its domestic operations to the new Suvarnabhumi international airport for a September 15 startup, Caretaker Prime Minister Thaksin Shinawatra has moderated his earlier demand.'Domestic airlines wishing to operate from the new airport on the stated day could do so on voluntary basis, but it will not be mandatory.'Speaking to journalists, Thaksin said he would meet with the Suvarnabhumi international... http://www.biz-day.com/read/economy/20_aug_06/epg28-6/pm_eases_airport_move_timetable.htm Tax collections and other revenue in July missed the government's target as surging fuel prices reduced tax receipts on sales of gasoline and automobiles, the finance ministry said.'The government's tax receipts and the profit contribution from state-owned companies was 78.5 billion baht ($2.1 billion), 9.6 percent lower than the target, the finance ministry said in an e-mailed statement Tuesday. The amount was 5.3 percent less than a year ago, the ministry said.'Southeast Asia's... http://www.biz-day.com/read/economy/08_aug_06/dzeg4-b/tax_other_revenues_miss_govt_target.htm JIRAYU 'VITTAYAKUNAKORN'BUSINESS DAY'The research unit of Phatra Securities expected to see only four percent of gross domestic product (GDP) growth this year due to the new government will focus on political reforming and delay some megaprojects.'Supavud Saicheua, pictured, managing director and head of research group of Phatra Securities Plc disclosed that GDP in 2006 or 18 months from now will not exceed than 4 percent because the new government will be focus on politic reforming more... http://www.biz-day.com/read/economy/27_jul_06/hjqii-x/gdp_not_exceed_4_this_year.htm Thailand's customs tax collections for the current 2006 fiscal year ending in September will fall by nearly 10 percent compared to earlier projections, the government agency announced Saturday, reducing revenues by nearly US$235 million. 'Duty collection projections by the Customs Department for the fiscal 2006 toward its anticipated revenues for the year ending September 30 had been reduced by 9 percent or Bt9 billion (US$234.6 million) to Bt100 billion (US$2.6 billion), Director General... http://www.biz-day.com/read/economy/18_jun_06/bwvbk-9/wto_compliance_dent_customs_revenue.htm Leading economists have warned that Thailand could encounter a new round of economic problems due to global economic uncertainty and the country should be well prepared if US and world economies retreat. 'Virabongsa Ramangura, pictured, former finance minister and deputy prime minister, told participants at a seminar Saturday that Thailand's economy was quite volatile in response to global economic uncertainties, especially capital flows into and out of the Kingdom, which had become larger and... http://www.biz-day.com/read/economy/04_jun_06/d6jpr-e/top_economists_warn_of_global_downturn.htm Public debt has continued to decline from last September to 41.4 percent of gross domestic product in March, considered a favourable figure as the government has targeted to keep it under 50 percent of GDP.'Finance Minister Thanong Bidaya told journalists after a public debt management committee meeting Friday that the level of public debt in March continued falling from last September's 46 percent of the GDP.'The country's total public debt in March was at 3.22 trillion baht, comprising 1.91... http://www.biz-day.com/read/economy/04_jun_06/fsrqp-r/public_debt_falls_41_4_of_gdp.htm Exporters of 'Khao Hom Mali' fragrant rice and fruit have held trade talks with major Hong Kong business interests and importers in an attempt to promote exports of the most Thai popular rice and fruits to Hong Kong and China.'Led by Somkid Jatusripitak, caretaker deputy prime minister and commerce minister, a group of exporters and government officials visited Hong Kong during May 25-27.'They met with leading Hong Kong business leaders on ways to promote economic and trade cooperation... http://www.biz-day.com/read/economy/28_may_06/fcbfg-9/traders_eye_hk_drive_rice_fruit_exports.htm The current oil hike is substantial, but should not give rise to unnecessary fear, according to the Thailand Development Research Institute (TDRI).'Somchai Jitsuchon, Director of TDRI's Researach Division, said here on Monday that the present going rate of US$70-80 per barrel is considered quite high.'But the price hike should neither be sustainable in the long term, nor have repercussions on the Thai economy as many have worried because it has surged on speculations due to a nuclear tension... http://www.biz-day.com/read/economy/09_may_06/gkip8-2/current_oil_price_hike_should_not_be_concern_tdri.htm Thailand's jobless rate increased in March from a month earlier as manufacturers, restaurants and hotels fired workers.'The unemployment rate rose to 1.8 percent from 1.6 percent in February, the Bangkok-based National Statistics Office said on its Web site today. The number of people out of work climbed to 640,000 in March from 560,000 the previous month.'Thailand's central bank on April 26 lowered its forecast for growth in Southeast Asia's second-largest economy as rising fuel costs and... http://www.biz-day.com/read/economy/04_may_06/bum49-i/more_lose_jobs_local_oil_problems.htm Possibly the most telling moment in Italy's long and sometimes bitter election campaign was the intervention of the Vatican. Economic conditions were 'unfortunately difficult,'' according to Cardinal Camillo Ruini, Pope Benedict XVI's political spokesman.'None of us like to take issue with the Pope, and in that judgment, his team was certainly correct. Maybe they should turn over the management of the Italian economy to the cardinals. After all, a miracle is what it needs right now.'As... http://www.biz-day.com/read/economy/16_apr_06/gnvsj-h/prodi_needs_revolution.htm New car sales in Thailand, Southeast Asia's biggest auto market, fell 2.2 percent in March, figures released Tuesday show.' Sales fell to 66,101 units in March from 67,554 a year ago, Toyota Motor (Thailand) Ltd, the country's biggest automaker, said on its website. 'Toyota releases official statistics on the government's behalf. http://www.biz-day.com/read/economy/11_apr_06/hciqg-f/new_vehicle_sales_decline.htm Decisions and actions concerning mega project development will be postponed until the next Thai government is formed, outgoing Prime Minister Thaksin Shinawatra said here on Monday.'When asked to comment on Thailand's planned investment in mega projects, Thaksin said he had stepped down from office so the new Thai government would have to take care of the projects.'Thaksin's administration earlier planned to kick off the projects on April 28 with the initial process of electronic... http://www.biz-day.com/read/economy/11_apr_06/fg336-p/mega_projects_shelved_await_govt.htm Tariffs on automobile imports among member countries of the Association of Southeast Asian Nations (ASEAN) are likely to be reduced to zero per cent over the next five years.'Director-General of the Customs Department Sathit Limpongpan on Tuesday said in a seminar here on Thailand's Detroit of Asia Policy that the automobile import tariffs among the 10 ASEAN member countries could be reduced to zero percent by 2010-2011.'In part of Thailand, free trade area (FTA) agreements the Thai... http://www.biz-day.com/read/economy/29_mar_06/cw7m3-i/asean_auto_tariffs_come_down_zero.htm Thailand exported 52,282 cars and trucks in February, up 88.7 percent from the same month of 2005, Toyota Motor Corp's Thai unit said on Monday.'Thailand exported 440,640 cars and trucks in 2005, up 32.7 percent from 332,000 in 2004, the Japanese carmaker said.'Toyota exported 21,842 Thai-built vehicles in February, followed by Mitsubishi Motors with 11,959, Ford Motors with 5,911, Isuzu Motors with 3,833, Mazda Motors with 3,631, and Honda Motors with 3,505.'Toyota, which compiles Thai... http://www.biz-day.com/read/economy/28_mar_06/cr98k-n/february_auto_exports_up_88_7.htm Caretaker Deputy Prime Minister and Commerce Minister Somkid Jatusripitak, pictured, on Tuesday conceded investors are worried that the continuing political turmoil currently would have an impact on long-term investment in the country.'Speaking before attending the cabinet's weekly meeting at Government House here, he said the current economic situation remains not of concern given economic figure reports he had obtained'He acknowledged that investors felt worried about the impact of the... http://www.biz-day.com/read/economy/21_mar_06/ft46r-v/somkid_investors_worried.htm Spending on consumer goods has begun to slow down due to the current political tension, sparking fears that Thailand could end up with a $10 billion deficit if such situation continues longer than three months.'Lakhana Leelayuthyothin, president of the Marketing Association of Thailand (MAT), said on Saturday that there were signs indicating that consumers throughout the country have become more worried about the present political crisis and have reduced their spendings because of... http://www.biz-day.com/read/economy/12_mar_06/jkz6d-7/consumer_spending_slows_down_deficit_likely_rise.htm You could spend a career as a banker, economist or financial journalist without ever having to worry about Iceland. It's small, chilly and a long way from anywhere. 'Then, last month, the wind blowing out of Iceland was more metaphorical than meteorological. When Fitch Ratings reduced the outlook for the Nordic country's foreign- and local-currency ratings to 'negative'' from 'stable'' on Feb. 21, Iceland fell into crisis. 'The krona plunged in value at a time when the benchmark interest... http://www.biz-day.com/read/economy/07_mar_06/fbf8j-7/iceland_sends_chilly_warning_major_economies.htm NEW DELHI -- India can sustain 8 percent economic growth in coming years, and the government is committed to easing electricity shortages and improving roads and ports to spur expansion, Finance Minister Palaniappan Chidambaram said on Sunday. 'India's economy may grow 8.1 percent in the year ending March 31, after a 7.5 percent expansion a year earlier, the government estimates.'In his Feb. 28 budget statement Chidambaram pledged to increase investment in power plants, roads and ports to... http://www.biz-day.com/read/economy/05_mar_06/h49md-x/india_forecasts_8_growth.htm Fidelity Investments bagged the biggest haul of fund performance awards last night at an annual event hosted and organised by ratings agency Standard & Poor's.'Fidelity won 11 awards - nine for outstanding performance in various sectors and two special awards given out for the first time this year. The Business Times is the official media for the event.'For the first time, S&P gave an award for 'Best Performing Fund Management Group' - to recognise consistent performance by a group across all... http://www.biz-day.com/read/economy/26_feb_06/htxy7-z/fidelity_clinches_11_fund_awards.htm Thailand's government, which last year posted its first budget surplus since the 1997 Asian financial crisis, said its revenue rose 5.4 percent in January on higher tax collection. 'Revenue last month rose to 99.7 billion baht ($2.5 billion) from 94.6 billion baht a year earlier, the finance ministry said in an e-mailed statement today. 'The receipts were 0.2 percent higher than the ministry's target of 99.5 billion baht, it said. The figures are net of tax reimbursements in the month.... http://www.biz-day.com/read/economy/09_feb_06/d68me-s/govt_revenue_rises_5_4_higher_taxes.htm THE jobless rate rose in December as manufacturers and construction reduced hiring, the government said. The unemployment rate rose to 1.4 percent from a five-year low of 1.2 percent in November, the National Statistics Office said in a faxed statement in Bangkok today. 'The monthly jobless rate in November was lowest since January 2001, the earliest data available on the agency's Web site. The number of people out of work rose to 510,000 in December from 450,000 in November. Rising employment... http://www.biz-day.com/read/economy/31_jan_06/bk4ac-h/jobless_rate_rises_factories_cut_hiring.htm The Thai Ministry of Commerce has set an export target of 7.5 million tonnes of rice this year, up 200,000 tonnesfrom last year, Foreign Trade Department Director-General Rachane Potjanasuntorn said on Monday.'A total of 7.3 million tonnes of rice was exported in 2005, generating at least $2.3 billion, indicating that Thai rice still has a promising year ahead. 'Thailand's export volume is expectedto hit a record high of $2.5 billion this year, he said.'The export value of Thai white rice is... http://www.biz-day.com/read/economy/24_jan_06/jmyje-i/thailand_targets_7_5m_tonnes_of_rice_exports.htm Two new studies by respected economists carefully examine the economic costs of the Iraq war, and find them to be significantly higher than previously advertised. These reports will no doubt receive much attention on editorial pages in coming weeks. 'What should we make of them? The war costs covered extensively in the media to date have been analyses of the actual spending on Iraq-related activity. The latest figure from the Pentagon places the cost of the war at about $173 billion. An... http://www.biz-day.com/read/economy/17_jan_06/duw8y-w/true_cost_of_iraq_war.htm Thai rice exporters expect government price guarantees to boost incomes in 2006, with export volumes forecast at 8.3 million metric tons, an English-language newspaper said, citing the country's second-biggest rice exporter.'The government's plans to barter for imported goods and expertise to help its current account means farmers will be paid guaranteed prices for their produce, the newspaper cited Apichat Chansakulporn, president of AgriTrading as saying.' The government recently said it... http://www.biz-day.com/read/economy/03_jan_06/js3ea-6/rice_exporters_expect_higher_prices.htm Deputy Prime Minister and Commerce Minister Somkid Jatusripitak on Wednesday called on all provincial governors to jointly develop their provinces in a cluster system, saying the approach would help boost the country's competitiveness in the future.'Speaking at a meeting of provincial governors nationwide to review a development strategy of each group of provinces, Mr. Somkid said the CEO governorship and the cluster-based development of provinces would be a key to national development in the... http://www.biz-day.com/read/economy/22_dec_05/zahh6-y/governors_urged_develop_cluster_system.htm Auto sales in Thailand, Southeast Asia's biggest auto market, rose in November to their fourth- highest on record, as falling fuel prices and a stronger economy helped Isuzu Motors and Honda Motors sell more cars. 'Sales last month rose 8.3 percent to 63,422 units from 58,578 in November last year, Toyota Motors (Thailand) said in an e-mail today. Toyota, the biggest carmaker in Thailand, compiles monthly data for the nation's auto industry. 'PTT Plc, Thailand's largest operator of refilling... http://www.biz-day.com/read/economy/18_dec_05/bes2n-p/car_sales_rise_fuel_cost_drops.htm Deputy Prime Minister and Commerce Minister Somkid Jatusripitak will make a final decision soon whether to bring a case to the World Trade Organisation (WTO) against US double charging on Thailand's shrimp exports, according to a well-placed source at the Commerce Ministry.'The source said the Thai Ambassador to the WTO recently sent a report to the Foreign Trade Department suggesting that the government should file a complaint to the world trade body over what it saw as the US government's... http://www.biz-day.com/read/economy/11_dec_05/fyrak-5/thailand_mulls_wto_petition.htm Thai consumer confidence improved slightly in November due to lower global oil prices and continued growth in the country's exports, survey results announced yesterday show. 'The fourth successive month of improvement probably signals that consumer confidence has bottomed out and is firmly on an uptrend. The University of the Thai Chamber of Commerce said in a statement that its consumer confidence index increased to 87.9 from 86.8 in October. The reading is still below 100, however, meaning... http://www.biz-day.com/read/economy/08_dec_05/cik6g-k/consumer_spirits_higher.htm revenue from tax collections, profits of state companies and other income rose 1.4 percent in November, boosted by higher corporate earnings and personal income, the finance ministry said. 'Total revenue last month rose to 98.9 billion baht ($2.4 billion) from 97.5 billion baht in the same month a year earlier, the ministry said in an e-mailed statement in Bangkok yesterday. 'The receipts were 2.1 percent higher than the ministry's target of 96.9 billion baht, it said. 'The government's... http://www.biz-day.com/read/economy/08_dec_05/garpz-p/government_revenue_rises_1_4_higher_taxes.htm Thailand will join other members of the Association of Southeast Asian Nations (Asean) in signing economic cooperation accords with South Korea and India.'The decision was approved by cabinet at its weekly meeting here on Tuesday.'The Asean-South Koreanpacts include arrangements on bilateral economic cooperation, bilateral trade, and mechanisms to settle business disputes between the two sides; while those between Asean and India include a protocol on amendments of bilateral agreements on... http://www.biz-day.com/read/economy/08_dec_05/etum3-5/thailand_join_asean_pacts_with_korea.htm The Philippines probably beat its budget deficit target for October as government revenue was likely higher than the official goal for the month, National Treasurer Omar Cruz said yesterday in Manila. 'The deficit was probably narrower than the government's 10 billion pesos ($184 million) estimate for the month, Cruz said in an interview in Manila, without giving the figures. 'The government will probably announce the revenue and spending figures for October on Thursday, he said. 'If our... http://www.biz-day.com/read/economy/14_nov_05/zdrn6-q/manila_likely_beat_deficit_goal.htm The government has finally approved a proposed plan of the Bangkok Metropolitan Administration (BMA) on its 2.2 kilometre extension of the existing skytrain system to the Thonburi side.'The government endorsed the plan at a joint government-BMA meeting here on Friday, which was chaired by Prime Minister Thaksin Shinawatra.'Under the plan, the BMA is now allowed to construct the 2.2 kilometre extended Skytrain route, from Taksin Station to Taksin Road, with its own budget.'However, the city... http://www.biz-day.com/read/economy/06_nov_05/dcbe2-d/govt_approves_bts_extension.htm The cabinet yesterday approved a 6 percent increase in the investment budget for major infrastructure projects planned through 2009. 'The increase in the budget to 1.804 trillion baht is aimed mainly at housing programmes, the government said in a statement. 'After the upward revision, the budget for residential projects will grow by 116.5 billion baht to 330.3 billion baht, the statement said. Funds earmarked for mass transit projects remain at 423.4 billion baht, the statement said. 'The... http://www.biz-day.com/read/economy/01_nov_05/zyami-z/cabinet_okays_6_rise_big_project_budget.htm