Fitch doubts last year's problems will drag Kingdom down
Thailand's economic problems last year should not in themselves drag the country's credit rating down much, but the government's response to those challenges remains an important factor in Fitch Ratings' assessment, it says.
Targeted reconstruction spending after the floods, by both the government and the private sector, could boost full-year GDP in 2012 (for which Fitch currently forecasts growth of 4 per cent) and could strengthen the economy’s supply potential as well as the sovereign credit profile over the longer term. Fiscal stimulus could also help offset any weakening in the global economy. – The Nation
French site rates Thailand tops
Thailand has been voted the No 1 destination in a recent online survey conducted by Routard.com, one of France’s most popular travel websites, especially for destinations and accommodation.
According to Routard.com, a combination of factors accounts for Thailand’s unique destination appeal among "Routarnautes" – the people who visit the website. These are the rich cultural heritage of the North; the white sandy beaches and crystal-clear seas of the South; the vibrant capital city of Bangkok; unrivalled hospitality; superb Thai cuisine; and attractive pricing. Launched in 2011, this was the first online survey conducted by Routard.com. – The Nation
Indorama makes Bt15.6 bn
Indorama Ventures, Thailand’s largest polyester maker, reported full-year net income of Bt15.6 billion, compared with an average analyst estimate of Bt17.4 billion, according to a regulatory filing. – Bloomberg
Healthy changes at Cardinal
Cardinal Health yesterday announced the availability of its complete portfolio of surgical gloves, including Protexis powder-free surgical gloves and Triflex powdered surgical gloves, in sustainable, half-fold packaging.
Cardinal Health has also implemented a number of initiatives to address and improve its surgical-glove-manufacturing operations in Thailand, including non-hazardous-waste recycling, heat recovery and water recycling.
The company’s energy-conservation efforts have been recognised by two Energy Awards from King Mongkut University of Technology, sponsored by the Department |of Alternative Energy and Efficiency. Cardinal Health also received a Green Industry |Award Level II certification for sustainability by the Industry Ministry, recognising the company's commitment to sustainable resource use, among other qualifying factors. |– The Nation
Gold glitters again
Gold April Comex futures rallied 1.89 per cent in New York to US$1,758.50, the highest level since February 2.
The gold price may be rallying because of problems in Iran that increase investors' need for a safe haven, according to Bloomberg. As well, the announcement by the Chinese central bank that it was cutting the required reserve ratio for banks by 50bp effective tomorrow may signal China's tolerance for more monetary easing. –The Nation
Clinic gains rights
DNA Clinic Vechagrum Co, which has won the exclusive right to introduce Gold Thread Lift in Thailand, has forecast an expanding beauty market in 2012, as it moves to offer more world-class products and services.
Meanwhile the clinic has prepared a Bt20-million marketing budget to introduce |its Charisma Programme, a new principle of beauty science that it expects will |gross Bt200 million in revenue this year, managing director Wasin Siriratana said. |– The Nation
