Shipping containers are loaded onto an international freighter at the Bangkok Port.(Photo bangkokpost.com) Bangkok - The weaker baht is expected to boost the Thai economy and increase real GDP of the country by 0.4 percent, but not all manufacturers will reap the benefits, according to the Industry Ministry of Thailand. The ministry said that industries such as steel, medicine and oil, which depend greatly on the import of raw materials and have few exports, will bear the brunt of the baht depreciation. Manufacturers will experience varying outcomes as the value of the baht decreases, but overall the Thai economy will benefit, said Industry Minister Suriya Jungrungreangkit. The baht fell to 34.46 against the US dollar on June 7, down from 33.38 baht on December 30 last year. Director-General of the Office of Industrial Economics (OIE) Thongchai Chawalitpichaet said if the value of the baht weakens by 5 percent, real GDP will grow by 0.4 percent. The real GDP is a measure … [Read more...] about Thailand: weaker baht helps exports
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Mud, sweat and cheers: Traditional Thai water buffalo race enthralls crowds
Boys scurry, duck and weave through crowds sheltering from the suffocating heat before upending buckets of cooling water on beefy bovines waiting to compete at the annual traditional Thai buffalo races in Chonburi on Sunday. Thailand Buffalo Race: The tradition marks the beginning of the rice planting season. The riotously noisy, muddy and slightly chaotic annual tradition marks the beginning of the rice planting season -- with the festival-like atmosphere in the eastern province taking place for the first time in two years. The main event sees four pairs of harnessed buffalo gallop across a decorated paddy field, with intrepid racers sprinting barefoot through the shallow muddy waters and attempting to both control their beasts and remain upright. "Before the race starts, we are a little excited and nervous," said Sompong Ratanasatien, 33, drenched and breathing heavily after his latest bout. The trickiest point was the start line, he said, where … [Read more...] about Mud, sweat and cheers: Traditional Thai water buffalo race enthralls crowds