Bank optimistic on Thai tourism

November 11, 2016 by  
Filed under News, Thailand

BANGKOK, 11 November 2016: Kasikorn Research Centre estimates Thailand’s tourism industry will close the year with 32.5 million tourist arrivals.

The bank’s think-tank unit said, although tourist arrivals in the fourth quarter of this year slowed down, the country’s tourism would close with a positive performance. by year-end.

Originally, the country estimated tourist arrivals would reach 33 million this year. Read more

Open doors open business

July 7, 2016 by  
Filed under Cambodia, Mekong, News

SIHANOUKVILLE, 7 July 2016: Mekong Region’s tourism stakeholders should adopt openness as the core value to ensure the industry achieves another decade of successful expansion.

That was the core message  presented by Asian Development Bank management specialist, Steven Schipani, in his remarks on preparations for the 2016 to 2025 Mekong Tourism Sector Strategy.

He was addressing 200 delegates at the opening day’s session of the Mekong Tourism Forum in Sihanoukville, Cambodia, earlier this week. Read more

British business in Brexit firing line

June 28, 2016 by  
Filed under EUROPE, News

LONDON, 28 June 2016: Banks, airlines and carmakers are among the industries in Britain to have been left especially exposed following the uncertainty created by the country’s decision to leave the European Union.

Here are some of their key concerns:

BANKS: Read more

Payback offer by Kingfisher tycoon

March 31, 2016 by  
Filed under Aviation, News

NEW DELHI, 31 March 2016: Debt-laden Indian tycoon Vijay Mallya has offered to pay back some of the estimated USD1.3 billion he owes in unpaid loans, lawyers told a New Delhi court Wednesday, in a case that has gripped the country.

The founder of the now-defunct Kingfisher Airlines, who is being chased by a group of mostly state-run banks over the unpaid debts, left India earlier this month.

A lawyer for Kingfisher, C. S. Vaidyanathan, on Wednesday submitted a repayment plan to the Supreme Court proposing to give back 40 billion rupees (USD603 million) to banks by 30 September. Read more

Kyat surges against dollar

February 11, 2016 by  
Filed under Myanmar, News

YANGON, 11 February 2016: Local banks suspended foreign currency exchange services, Tuesday, as the kyat surged in value against the dollar, the Myanmar Times reported.

The kyat strengthened to K1248 against the dollar, according to the Central Bank’s rate, after ending January at K1294.

Myanmar Times cited money changers in Yangon quoting K1190 to K1210 to the dollar yesterday. Read more

Myanmar revokes forex permits

October 20, 2015 by  
Filed under Myanmar, News

YANGON, 20 October 2015: Myanmar businesses ranging from restaurants to golf clubs have until the end of next month to stop charging in US dollars, the central bank announced in a snap move to stabilise the kyat currency.

Banks and official moneychangers will still be allowed to exchange dollars for the local currency, but a host of firms, many in the service sector, will have to return their permits.

The special licences enabling firms to convert US currency will be revoked to combat “dollarisation”, the Central Bank of Myanmar said in a statement.

Read more

Bank positive on China travel trend

September 28, 2015 by  
Filed under News, Thailand

BANGKOK, 28 September 2015: Kasikorn Research Centre estimates  travel from China to Thailand will grow 22.6% to reach 1.8 million trips during October to December this year.

The business think-tank unit reported that over the last few years, Chinese tourists became a major source of tourism, worldwide, with destinations conpeting aggressively to attract business.

Although this year Thailand does not have a stimulus package for Chinese tourists like visa fee exemption, the kingdom will enjoy a boom in travel from China, the report claimed.

Read more

Bank: Growth slows in Asia

September 24, 2015 by  
Filed under News

HONG KONG, 24 September 2015: Weaker growth in China this year is expected to cause a slowdown in the rest of Asia, the Asian Development Bank said earlier this week as it became the latest major body to revise down its forecasts for the world’s number two economy.

It also warned central banks to prepare for an expected Federal Reserve interest rate rise, with many nations already seeing huge capital outflows as dealers look for safer US investments.

The report comes as markets have been hit by extreme volatility driven by fears over the Chinese economy — and its leaders’ management of it — after last month’s surprise devaluation of its Yuan currency.

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Myanmar to launch tourism bank

May 8, 2015 by  
Filed under Myanmar, News

YANGON, 8 May 2015: Myanmar Tourism Federation will establish a Myanmar Tourism Development Bank as part of a plan to support the tourism industry.

Eleven Myanmar media reported the federation had made a proposal to establish a new bank that would grant low-interest loans to tourism related companies.

Myanmar Tourism Bank managing director, Thein Tin, was quoted saying: “We have submitted the license application for the bank. It will be approved this month. After that, we hope to establish the bank in June.”

Read more