Fed reassurances fail to calm nervous investors
published : 6 Mar 2021 at 04:00
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Recap: Global stocks in developed and developing markets alike came under pressure again on Friday after reassurances by the chief of the US Federal Reserve failed to soothe investors concerns about a recent surge in borrowing costs. Oil prices also leapt after the Opec and its allies surprised the market by deciding to keep output unchanged.
The SET index moved in a range of 1,487.99 and 1,543.48 points this week and bucked the downbeat trend yesterday by closing up 10.00 points at 1,544.11, an increase of 3.16% from the previous week, in heavy daily turnover averaging 101.08 billion baht.
Gov t to run chartered flight Saturday to bring home Koreans in Myanmar
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Thai Airways seeks to raise B50bn
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Funds needed under debt revamp plan
published : 3 Mar 2021 at 04:00 Chansin Treenuchagron, THAI s acting president, at a press conference on Tuesday.
Thai Airways International (THAI) says it plans to raise about 50 billion baht over the next two years as the financially struggling flag carrier submitted its business rehabilitation plan on Tuesday.
Chai Eamsiri, acting executive vice president of THAI s Finance and Accounting Department, said an initial amount of 30 billion baht must be raised by June this year to pay for operational costs and compensation for employees who have resigned.
The funds may be sought by borrowing from financial institutions, seeking investment allies or through a debt-to-equity conversion, he said.
Airways Graeme Sumner said the result reflected the challenges Covid-19 was creating for the aviation industry. “While the domestic market is showing encouraging signs of recovery, our core revenue streams continue to be significantly affected,” Sumner said. Any marked improvement for Airways would come when international travel recovered, he said. “This is forecast to still take some time even with the arrival of Covid-19 vaccines.” Airways’ capital investment programme was constrained with only investments in systems and technology that had been identified as being critical to maintaining safe services able to go ahead, he said. Other important initiatives had to be put on hold for now, he said.