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Thai state bank again seeks funds for troubled rice scheme BANGKOK: A Thai state-backed farm bank will issue a 20 billion baht ($606 million) bond next week in another attempt to raise funds for the government's rice-buying scheme, which has run out of money because of a failure to find buyers for the grain.The generous intervention scheme helped Prime Minister Yingluck Shinawatra win power in a 2011 election but hundreds of farmers, some unpaid since October, have joined demonstrations which began in November. More are considering joining protests next week aimed at ousting her."The 20 billion baht is not enough to pay the thousands of farmers who are still waiting for their money and they are getting angry and thinking about protesting," said Prasit Boonchoey, head of the Thai Farmers Association. He told Reuters he attended anti-government rallies in November.The bond issue could face a tough reception next week given the political uncertainty, with protesters planning to shut down Bangkok ...


Japan auto sales up 0.1pc in 2013 at 5.38mn vehicles TOKYO: Annual automobile sales in Japan rose 0.1 percent in 2013 to 5.38 million vehicles, industry data showed on Monday, as strong sales from September countered earlier declines after green car subsidies ended in September 2012.Sales in the world's third-biggest auto market is likely to continue growing year-on-year in the first three months of 2014 but outlook is murky following April when the sales tax will be raised, officials from Japan Automobile Dealers Association and ...

Ford says Dec China auto sales up 35pc on year SHANGHAI: - Ford Motor Co and its local partners in China sold a total of 94,838 vehicles on a wholesale basis in December, an increase of 35 percent from a year earlier, the company said on Monday.That compared to a 47 percent increase in November and a 55 percent jump in October.In 2013, sales by the Dearborn, Michigan-based automaker totalled 935,813 vehicles on a wholesale basis, up 49 percent from 2012, helped by Ford Focus, ...

Chevrolet to roll out 4G-connected cars LAS VEGAS: The new Chevrolets coming out this year will be faster -- on the information superhighway.The General Motors division said on Sunday it would deploy fourth generation (4G) Internet connections on several models to help motorists who want to stay connected with the growing number of apps for automobiles.Chevy will allow the 4G connections with Long Term Evolution (LTE) in a partnership with AT&T."Chevrolet is expected to implement the broadest deployment of 4G LTE ...

EU won't seek law to separate banking activities: FT LONDON: The European Union is set to drop financial reforms that would force big banks to ringfence their retail departments from riskier investment operations, the Financial Times reported on Monday.A draft European Commission paper, seen by the business paper, would no longer make banks automatically split operations and would give national supervisors more leeway in applying the reforms.But the draft proposal, drawn up by EU Commissioner Michel Barnier, does add a "narrowly defined" ban on ...

US listing to further sideline in Fiat-Chrysler group MILAN: Chief Executive Sergio Marchionne's merger of carmakers Fiat and Chrysler will probably entail a US share listing that cements North America as the group's new centre of gravity and further sidelines Italy. Two sources close to Fiat said it was likely to move its primary listing to New York as early as 2015 after a merger with Chrysler, the third-largest US automaker, heralding a politically delicate shift of focus that reflects the ...

Haldane says currency swap deals could be expanded PHILADELPHIA: Policymakers around the world should consider setting up more currency swap arrangements to make the global financial system more resilient to future crises, a top Bank of England policymaker said on Saturday. Andrew Haldane, BoE director of financial stability, said the rise in financial interdependence around the world requires bigger backstops to prevent crises from spreading across borders. Some of the biggest backstops developed since the 2007-09 financial crisis, he said, have been the ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln