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Minister vows VAT increases

The Finance Ministry plans to gradually raise the value-added tax (VAT) rate by an additional 1.5 percentage points to 8.5% by 2028, Finance Minister Ekniti Nitithanprapas said on Thursday.

Analysts forecast rate cut in December

Analysts increasingly expect the Bank of Thailand to cut the policy interest rate at its meeting next month after GDP growth fell to the weakest pace in four years in the third quarter amid weakening domestic demand, slower public investment and a tourism slump.

PTT ready to walk away from EV venture

The Thai oil and gas conglomerate PTT Plc is considering offloading its stake in an electric vehicle (EV) joint venture as it seeks to improve cash flow and brace for a sluggish Thai and global economy next year.