Tag: thailand

The rollout marks the first live deployment of Citi's integrated 24/7 USD Clearing and Citi Token Services, enabling near real-time cross-border USD payments outside traditional banking hours.

The former HSBC banker has most recently led Citi Thailand’s commercial subsidiaries group.

The firm has added Thailand, Indonesia, Malaysia, Vietnam and Turkey to its network. There are more businesses and consumers increasingly using digital payments across Apac.

The 0.25% cut comes as the Thai baht has been appreciating against the US dollar; the Bank also warned about elevated borrowing costs for SMEs.

Following the final outcome, political stability could boost sectors such as healthcare, tourism, consumer finance, and industrial estates, with net inflows of foreign investment set to boost The Stock Exchange of Thailand, according to analysts.

The initial phase, which allows PromptPay QR code payments to be used by foreign tourists, will be live in a few weeks. Krungthai Bank will act as the settlement bank.

The bank is expecting the economy to slow in the second half of the year as the impact of US tariffs kick in; SMEs and housing loans are of particular concern.

Thai Union's CFO Ludovic Garnier told CT the deal is an investment in its 2030 sustainability goals and the "future of the Thai blue economy", in part through training and investment in smallholder farmers; the ocean economy is worth 30% of Thailand's GDP.

Exports grew 15% in Q1, however there is expected to be a slowdown moving forward as tariffs bite, the baht remains strong and tourism faces headwinds.

Most major sectors in Thailand have said their normal operations were undisrupted by the earthquake in Myanmar; SET trading resumes after temporary closure on Friday afternoon.

As Hong Kong looks to integrate more with Asean's economies, Thailand joins Indonesia and Singapore as a Recognised Stock Exchange in the Special Administrative Region.

The plan is to create carbon credit trading on a "transparent" platform, and should help with nationally determined contributions.