business news

The government will shortly seek parliamentary approval for a new national pension scheme for 23 million people who are not covered by social security or other welfare systems.
Finance Minister Korn Chatikavanij said the bill would be submitted to Parliament when it reconvenes in the next three or four months.

Reuters - Britain risks losing its precious triple-A credit rating because of the danger that government debt may soar close to 100 percent of GDP, and uncertainty over policy before an election due by next year.

The Commerce Ministry is under pressure to adjust its annual inflation target from the current range of zero to plus 0.5 per cent for this year, following the increase in excise taxes on alcohol products and fuel.

Reuters - U.S. manufacturers and retailers that get products or components from China are increasingly concerned about quality, intellectual property and rising costs in China, and more are looking at alternate sites, according to a study published on Thursday.

Reuters - The Obama administration is mulling a new agency to better protect consumers who buy financial products or take out mortgages from practices like those that led to the current financial crisis, U.S. Treasury Secretary Timothy Geithner said on Thursday.

Thailand's automotive exports in April fell to their lowest monthly level for six years, slumping 45.9 per cent year on year to 28,663 units, the Automotive Industry Club under the Federation of Thai Industries (FTI) said yesterday.

Reuters - General Motors Corp and the United Auto Workers have reached an agreement on contract changes and restructuring $20 billion in debt owed to a trust fund for retiree healthcare, the union said on Thursday.

Reuters - Data on Thursday underscored that economic recovery in the United States will be a long, slow slog, with a key manufacturing indicator showing only marginally less weakness and an outlook for rising unemployment even when growth resumes.

US-based residential real-estate sales organisation Century 21 International has opened a franchise in Thailand.

Reuters - U.S. stocks slid on Thursday as signs of further job market weakness and a disappointing Fed regional survey added to doubts that the economy was set for quick recovery.