Business

The Mice (meetings, incentives, conventions and exhibitions) segment has started to see busy schedules from international events in the second half as full reopening creates momentum for a gradual recovery. Source: Business

WASHINGTON: President Joe Biden signed into law Tuesday a multibillion dollar bill boosting domestic semiconductor and other high-tech manufacturing sectors that US leaders fear risk being dominated by rival China. Source: Business

The Central Administrative Court has dismissed a petition filed by Bangkok Mass Transit System Plc (BTSC) seeking an injunction to suspend the current round of bidding for the right to jointly invest in Orange Line’s western extension project. Source: Business

The Employers’ Confederation of Thai Trade and Industry (EconThai) is urging the government to base the daily minimum wage calculation on inflation, not politically-motivated factors, as the Labour Ministry plans to enforce the new wage hike in October, which is sooner than originally anticipated. Source: Business

Spending on Mother’s Day is expected to increase by 9% this year to 10.8 billion baht, the highest level since 2012, as consumers feel less concerned about the Omicron variant of Covid-19, reflecting the start of the country’s tepid economic recovery, according to the University of the Thai Chamber of …

Citibank has downgraded its 2022 forecast for Thai economic growth to 3.5%, from 3.6%, with next year’s GDP predicted to expand by 4.5%, a fall from 4.8%. Source: Business

Local major banks plan to hold their interest rates steady if the Bank of Thailand raises the policy rate on Wednesday, as they want to mitigate its impact on borrowers amid a gradual economic recovery. Source: Business

SET-listed S&P Syndicate Plc, the operator of the S&P bakery and restaurant chain, is to adapt its business operation to cope with high operational costs, with the launch of various tools such as work automation in the second half of this year. Source: Business

The Monetary Policy Committee (MPC) is expected to raise the policy interest rate for the first time in two years by 0.25% on Wednesday to 0.75%, as inflation soared above 7% in the last two months, bringing an end to a low-interest era, analysts say. Source: Business

Cryptocurrency investment is “highly hazardous” but meltdowns in the sector have not created financial-stability risks for Singapore, regulators in the city-state said after another digital-asset firm ran into trouble. Source: Business