Thailand Financial News

Galileo International, Inc., the leading global distribution system (GDS) and Travelport brand, today announced its overriding support for over 900 Galileo-connected travel agents in Thailand in response to Thai Airways’ decision to move to a single GDS for domestic distribution of Thai Airways fares.
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Next few months crucial to investor confidence Bangkok (United Nations Information Services) ? In a new economic analysis of the aftermath of the military coup in Thailand, UNESCAP predicts that GDP growth in Thailand could reach 4.7% in 2007 if the new interim government maintains political stability and reduces uncertainty in government spending, especially in infrastructure investment.
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Oracle Asia Pacific & Japan outpaces competition with 126% growth in applications new license revenues; 12% growth in database and middleware new license revenues Oracle announced significant customer traction across its database, middleware and applications businesses in the Asia Pacific region during the first quarter of its fiscal year 2007.
“In Q1FY07, we delivered significant revenue growth across virtually all product lines and geographies,” said Oracle President Charles Phillips.
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Mr. Niwatt Chittalarn (2nd from right), President & Chief Executive Officer, “KTC” or Krungthai Card Public Company Limited, and Mrs. Eilee Wee (3rd from right), Vice President and Country Manager for Thailand MasterCard Worldwide, jointly introduced eight new designs of KTC-Titanium MasterCard credit card recently at KTC Boutique Branch, UBC 2 Building, Sukhumvit 33.
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The grace period during which bond listing fees (including the application, entrance and annual fees), plus the trading fee of 0.05% are waived will be extended for another year, until end-2007, Mr. Santi Kiranand Ph.D., CEO of the BEX, said. “The Stock Exchange of Thailand (SET)’s Board considers that extending the fee-free period will lessen the financial burden on state and private bond-issuing agencies.  The Exchange’s decision will benefit the country and promote the growth of the bond market,” Dr.
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Moody’s Investors Service reacted positively to the creation of Thailand’s new economic advisory committee appointed by the military leadership that took power on Sept 19. The committee is the creation of the military’s Council for Democratic Reform (CDR) that now governs the country.
“The committee may help bolster confidence by ensuring sound economic policies,” said Moody’s Vice President Thomas Byrne.
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This month HSBC launches the Express Remittance service jointly with the Bank of Communications (BoCom). Express Remittance is a same-day USD remittance service, offering HSBC’s and BoCom’s corporate and commercial customers a favorable cut-off time during weekdays.
Express Remittance offers same-day USD telegraphic transfers from HSBC customers in Hong Kong to corporate accounts held at BoCom’s Guangzhou and Ningbo branches.
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Bankersalmanac.com, the leading source of intelligent reference data for global banking, announces that it will be showcasing a new Due Diligence Alert service at Sibos 2006. Designed to reduce time and overheads, the reports notify users when institutions have added or re-submitted documents to the online Due Diligence Repository.
Developed in association with the Wolfsberg Group, the Due Diligence Repository provides a central registry for standard documentation required by banks to conduct due diligence on their banking counterparties.
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Hong Kong - Citibank has announced its latest customer-focused initiative with the theme “Citigold - Passion for Your Success” which will further align all product offerings, services and advisory approach to focus on one goal, which is, helping customers manage their wealth.
Citibank leads in the affluent market by always setting the standard for the industry.
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Citigroup has officially opened a new software and technology center in Dalian. The center will form part of Citicorp Software and Technology Services Limited (CSTS), a subsidiary of Citibank N.A.. A ceremony was held to mark the opening, attended by Lee Ah Boon, Country Business Manager for Citibank China, Stephen Bird, CEO of Credit Cards and Consumer Finance Japan, Aaron Ho, General Manager of CSTS, as well as senior Dalian government officials.
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