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Thai Airways reform to test business credentials of military govt BANGKOK: Thailand's new military rulers have singled out the country's troubled flagship airline as the first state enterprise to undergo reform, an exercise that will test their unproven business acumen and ability to separate politics from business. Thai Airways International Pcl has racked up four quarters of losses due to declining ticket sales, high operating costs and ruthless competition. Boardroom fights have also led to slow decision-making and a lack of coherent strategy, sources in the company say. The junta led by General Prayuth Chan-ocha has told the chief of the Royal Thai Air Force to fix the airline. Air Chief Marshall Prajin Juntong, who also oversees economic matters for the military government, said on Friday a detailed restructuring plan aimed at returning the carrier to profit will be considered by the board at a meeting on July 24. The success or failure of Prajin, who has little practical experience ...


Late monsoon starts farmer ‘journey to hell’ INDIA: Indian farmer Asghar Bhura scrapes a living by growing sugarcane, but this year's late monsoon has left his tiny plot parched and he will earn nothing from his harvest. Bhura will have to go and work for a big grower to feed his family of six, making 250 rupees ($4.00) a day, as he did when India suffered its last severe drought in 2009. "I have no option but to become a bonded labourer ...

Australia PM urges 'respect' for MH17 victims SYDNEY: Australian Prime Minister Tony Abbott demanded on Sunday that the bodies of those killed when Malaysia Airlines Flight MH17 crashed be "treated with respect" and said he feared interference with evidence would continue.Abbott joined a growing chorus of outrage from world leaders demanding Russia's full cooperation with what is becoming a monumentally challenging investigation into the downing of MH17 while bound from Amsterdam to Kuala Lumpur with 298 people from a dozen countries on ...

South Sudan rebels launch new offensive despite truce JUBA: South Sudanese rebels launched an offensive to retake a key town near the border with Ethiopia on Sunday in what the United Nations said was a clear violation of a truce agreement."This attack represents the most serious resumption of hostilities" since President Salva Kiir and his former deputy, rebel leader Riek Machar, met in May and recommitted to a January ceasefire, the UN mission said in a statement.The fighters loyal to Machar struck Nasir, ...

Japan's Abe vows dialogue with Russia's Putin in softer line than West TOKYO: Japanese Prime Minister Shinzo Abe pledged to continue dialogue with Russian President Vladimir Putin, taking a softer line with Moscow than some Western powers after the shooting down of a passenger jet over Ukraine.Abe has worked to improve Japan's relations with resource-rich Russia, a centrepiece of his foreign policy."Russia should commit constructively to various international issues as a responsible state. To help that I will continue dialogue with President Putin," Abe said in a ...

Popular French PM Valls loses shine as approval ratings slips PARIS: French Prime Minister Manuel Valls has slipped below a 50 percent approval rating for the first time since he was nominated in a March cabinet reshuffle, a poll showed on Sunday, as President Francois Hollande remained deeply unpopular.Valls, who replaced ex-PM Jean-Marc Ayrault after the ruling Socialists suffered a bruising defeat in local elections, has presided over an economic policy shift which centred around hefty payroll tax cuts for companies meant to improve their ...

Russia's Putin not blinking in ‘last chance saloon’ MOSCOW: Russian President Vladimir Putin is in the "last chance saloon" over the Ukraine crisis but appears to be doing little to get out of it.Since Malaysia Airlines flight MH17 was brought down over east Ukraine, Putin has been under intense international pressure to persuade pro-Russian separatists accused by the West of shooting it down to stop fighting.But for now he seems more intent on bluffing his way through than on trying to use this ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln