Factory outbreaks may cut Aug-Dec exports by B300 bn - shippers

Key exports could decrease by as much as 300 billion baht in the remaining months of the year if the spread of Covid-19 infections continues at factories, the country’s exporters' group said on Tuesday.

“The manufacturing sector has been affected a lot more by this outbreak… and exports are in the supply chain,” Chaichan Chareonsuk, chairman of the Thai National Shippers’ Council, told a press briefing.

Exports, a rare key bright spot in the economy, might grow by just 7% this year if the outbreak cannot be contained, he added, below the group’s growth target of 10%.

In the first half of 2021, exports rose 15.5% from a year earlier.

However, workers in over 1,500 factories have been infected with Cobif-19, according to Mr Chaichan.

Four key labour-intensive exporting industries — food, electronic parts, auto parts and textiles — have been particularly hit, Mr Chaichan said, with an expected loss of 200-300 billion baht in the remaining months of the year.

With that loss, overall exports will grow just 7% this year, or $19.2 billion a month, he said, while there is demand for Thai goods worth $22.2 billion-$23.0 billion a month. “Although there are already orders, we can’t get them,” he said.

“Last month, exporters were concerned about Covid. But right now, they are stressed.”.

News Related

OTHER NEWS

Zee-Sony merger includes $1.57 billion fund infusion in Zee

Zee Entertainment Enterprises (ZEE) board, on September 22, proposed merger between Zee and Sony Pictures Networks India (SPNI) by way of which the eventual shareholding of Sony in Zee will ... Read more »

National consumer commission orders Supertech MD's arrest for failing to refund homebuyer

Supertech’s twin towers (File image) The national consumer commission has sentenced Supertech MD, Mohit Arora, to three years in jail for failing to refund a homebuyer after not handing over ... Read more »

Tata Motors share price up 3% on plan to hike commercial vehicle prices

Tata Motors share price gained 3 percent in the morning session on September 22, a day after the automaker said it would hike the price of its commercial vehicles by ... Read more »

Maersk is now heading for biggest profit in Danish history

A.P. Moller-Maersk A/S is now heading for a full-year profit that will match its combined results from the past nine years and make business history in its home country Denmark. ... Read more »

Hong Kong's BN(O) emigrants are more likely to rent in the UK than buy, even as a stamp duty holiday ends and home prices plunge

Hong Kong immigrants under the British National (Overseas) scheme are more likely to rent when they first set foot in the United Kingdom than rushing into buying residential property, brokers ... Read more »

Zee-Sony merger to have largest entertainment network in India

Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises Ltd (ZEEL) announced that they had entered into an exclusive, non-binding Term Sheet to combine both companies’ linear networks, digital assets, ... Read more »

Here is why Paras Defence IPO subscribed over 16 times on the first day of bidding

Paras Defence and Space Technologies‘ initial public offering (IPO) has seen an overwhelming response from investors on the first day of bidding itself — on September 21. It was oversubscribed ... Read more »

These 8 fertilizer stocks doubled in a year, but saw up to 40% dip recently; worth a look?

Fertilizer stocks have been on a good run since the last 12 months. Many of the top stocks hit their 52-week high a couple of months back on expectations of ... Read more »

Moneycontrol PRO presents Quants League – Live Algorithmic Options Trading Virtual Conference

QUANTS LEAGUE is a biannual online conference that spans across 5 days inviting recognised and renowned speakers from across the globe sharing their wisdom and knowledge in building algorithm and ... Read more »

Gold Price Today: Yellow metal to remain range-bound ahead of Fed meet outcome

Gold was trading flat in the Indian market on September 22 amid rising uncertainties triggered by China Evergrande’s debt crisis and anticipation of policy cues from the US Federal Reserve ... Read more »

Will adding Indian debt securities to global bond indices reduce yields? Kotak MF's Lakshmi Iyer gives her take

If a country’s bonds are included in debt market indices run by global index makers, it acts as a guide for foreign investors to invest in Indian securities. Morgan Stanley ... Read more »

Flying cars in 2024? This tech CEO says it's commercially possible

Flying cars could be commercially available in 2024, but regulations for managing the new form of air traffic will be a concern, according to the chief executive officer of a ... Read more »

Mass testing ordered at all Korat markets Rise in Covid-19 cases linked to major farm produce market

Vendors and people living near Home Gardenville Sra Krok market in tambon Jor Hor in Muang district, Nakhon Ratchasima, queue for Covid-19 antigen kit testing.(Photo: Prasit Tangprasert) NAKHON RATCHASIMA: Mass ... Read more »

Australia's Zip enters Indian buy-now-pay-later space with ZestMoney deal

Founded by (L-R) Priya Sharma, Ashish Anantharaman and Lizzie Chapman in 2015, ZestMoney is a digital omnichannel BNPL player with a merchant network of 10,000 online and 75,000 physical stores. ... Read more »

Merger with ZEE in line with company's vision: Sony Pictures CEO tells employees

Sony Pictures CEO Tony Vinciquerra told employees that the merger with Zee Entertainment will be a huge opportunity for the company and will help lead consumer transition from traditional pay-TV ... Read more »

Zee Entertainment shares hit upper circuit on merger deal with Sony Pictures India

Zee Entertainment Enterprises (ZEE) shares were locked at 10 percent upper circuit in early trade on September 22 after the company signed a merger deal with Sony Pictures India. “The ... Read more »

Zee-Sony Pictures deal takes care of all stakeholders: Sources

The Zee Entertainment Enterprises (ZEE) stock is expected to continue to build on the gains clocked after the seemingly unexpected move to merge with Sony Pictures. What seems to the outside ... Read more »

Prawit insists ties with Prayut, Anupong remain solid

Deputy Prime Minister Prawit Wongsuwon, left, and Prime Minister Prayut Chan-o-cha sit side by side in the parliament during the recent no-confidence debate. (Parliament photo) Deputy Prime Minister Prawit Wongsuwon ... Read more »

The all new MFC platform: Will it be a one-stop portal for all mutual fund transactions?

Investing in a mutual fund (MF) is quite simple these days, more so if you are tech savvy. But it is not that easy to register your complaints and get ... Read more »

5 steps for a smooth cashless health insurance claim experience

Most health insurance companies offer cashless claim settlement of hospitalization bills. Though not complicated, it important to follow a set of steps and processes for you to make the claim ... Read more »

Our youth flock to Lisbon: beautiful life or starvation wages?

Premium The best of De Telegraaf ‘After a broken arm, resignation letter on the mat’ LISBON – In cozy bars such as the Ache Cohiba and Cargo 111 in the ... Read more »

US to probe Zoom's USD14.7 billion Five9 deal for national security risks

A US government committee that reviews foreign investment in telecom is probing videoconferencing company Zoom‘s $14.7 billion deal for cloud call centre company Five9. In an August filing with the ... Read more »

Evergrande signs deal to avoid default on key bond

Chinese property developer Evergrande has admitted facing ‘tremendous pressure’ as it tackles a debt pile of more than $300 billion. BEIJING: Embattled Chinese housing giant Evergrande said on Wednesday it ... Read more »

Br 01 cyber skull sapphire only watch

BR 01 CYBER SKULL Only Watch 21 ONLY WATCH 21 For its 9th edition, the biennial auction of unique timepieces sold for the benefit of research on Duchenne Muscular Dystrophy ... Read more »

Buy USDINR; target of: : 74.0 : ICICI Direct

ICICI Direct’s currency report on USDINR US dollar decline by 0.04% yesterday as US stocks ended mixed. Further, market participants awaited outcome of Fed monetary policy meeting. However, sharp fall ... Read more »

More than £1bn in state pensions underpaid due to 'repeated human errors'

Most of those affected are likely to be women and the true value of the underpayments will only become clear once the DWP has completed its review of all cases. Read more »

August exports up, says minister

Exports increased in August but at a slower pace than in July as coronavirus restrictions hit manufacturing and logistics, the commerce minister said on Wednesday. Exports should remain positive for ... Read more »

StarHub to buy majority stake in MyRepublic's Singapore broadband business

SINGAPORE – Local telco StarHub will be buying a majority 50.1 per cent stake in rival Internet service provider MyRepublic’s broadband business for residential and enterprise customers in Singapore, which ... Read more »

ZestMoney raises $50 million in Series C funding

Founded by (L-R) Priya Sharma, Ashish Anantharaman and Lizzie Chapman in 2015, ZestMoney is a digital omnichannel BNPL player with a merchant network of 10,000 online and 75,000 physical stores. ... Read more »

China stocks retreat as Evergrande seeks to delay debt repayment while Hong Kong market pauses for holiday

Stocks in mainland China dropped as trading resumed after a two-day holiday as China Evergrande Group’s debt crisis stoked concerns about contagion risks in a slowing economy. The Shanghai Composite ... Read more »

DAILY VOICE | Nimish Shah of Waterfield Advisors suggests creating core portfolio of good quality auto ancillary stocks post PLI scheme

Nimish Shah, Chief Investment Officer – Listed Investments at Waterfield Advisors advised caution for investing fresh money into metal stocks, especially after stellar run in the sector. “At these valuations, ... Read more »

Wall Street ends near flat on cautious note ahead of Fed meeting

Investors are waiting for the end of this week’s Fed meeting that may shed light on when its massive purchase of government debt will begin to ease. (Representative image) US ... Read more »

Cryptocurrency Prices Today on September 22: Ethereum falls more than 5%

Bitcoin | Image: Shutterstock Cryptocurrency prices continue to be in the red on September 22. The global cryptocurrency market cap is Rs 136.32 lakh crores, a 2.42 percent decrease over ... Read more »

Zee Entertainment signs merger deal with Sony Pictures India

Zee Entertainment. Zee Entertainment has signed a merger deal with Sony Pictures Networks India Private Limited, the company said in an exchange filing. According to the deal, Sony Pictures Entertainment ... Read more »

Oil rises on big decline in US crude stocks

Brent crude futures climbed 68 cents, or 0.9 percent, to $75.04 a barrel, after gaining 44 cents on September 21. (Representative image) Oil prices rose around 1 percent on September ... Read more »

Lottery Sambad Result September 15: 'Dear Bangalakshmi Raidak' lottery winners to be announced at 4 pm

Results of the West Bengal State Lottery Sambad ‘Dear Bangalakshmi Raidak’ are announced every Wednesday at 4 pm. (Representative image) Lottery Sambad Result: The West Bengal State Lottery Department will announce the results ... Read more »

Asian trade tense in the shadow of Evergrande and the Fed

S&P 500 futures fell 0.4 percent in early Asia trade and the offshore yuan was under pressure near a one-month low at 6.4850 per dollar. (Representative image) Asian stock markets ... Read more »

PM refuses to budge on benefit cuts despite taxpayers footing bill to support US-owned CO2 producer

In a deal brokered by Business Secretary Kwasi Kwarteng, the UK Government will provide "limited financial support" towards CF Fertilisers' running costs. Read more »

Trade Spotlight: What should investors do with Godrej Properties, ONGC and PVR?

After a day of steep fall, the market recovered smartly, with the BSE Sensex climbing more than 500 points to reclaim the 59,000-mark on September 21. The recovery in most ... Read more »

Dollar near one-month high as Evergrande risks, Fed loom

Investors also look to how mainland Chinese markets will react when they will reopen on September 22 after a four-day weekend. (Representative image) The dollar held below a near one-month ... Read more »