Porntiva Nakasai News
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Rice prices in Thailand, the world’s biggest exporter, may extend gains as supplies tighten at the end of the harvest season and millers hoard the grain on expectations of an increase in government’s purchase price.
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Thailand may relax limits on money outflows and boost support for exporters struggling after the baht rose to the strongest level in more than 13 years, Prime Minister Abhisit Vejjajiva said.
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Thai economic growth accelerated in the first quarter to the fastest pace in a year, adding pressure for higher borrowing costs to contain inflation as the government prepares for a July 3 election.
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Thailand’s economic growth probably quickened last quarter to the fastest pace in a year, sustaining pressure for higher interest rates to contain inflation.
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Thailand’s plan to ease restrictions on fund outflows may not be enough to stem an appreciation in the baht that threatens to slow growth in overseas shipments, exporters and trade groups said.
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Thailand’s exports rose the most in more than 18 years to surpass the record value set before the global financial crisis, adding to evidence of the economy’s resilience to Europe’s debt woes and domestic political unrest.
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Thailand’s exports rose at a slower- than-expected pace in July as demand for electronics and rice eased amid signs of cooling global growth.
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Thailand’s export growth slowed in December, a sign the surge in global demand that lifted Asian economies earlier in 2010 may be starting to ease.
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Thailand’s exports rose for the sixth consecutive month in April on overseas demand for electronics and automobiles, helping to sustain an economy hurt by the nation’s worst political violence in 18 years.
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Thailand’s exports rose the most since July 2008 as the global recovery boosted orders, helping to offset the economic fallout from the political unrest in April and May.
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