Business News
Business closures up 22 per cent in Thailand
Jul 22, 2008, 2:34 GMT
Bangkok - The number of Thai companies that were forced to close down during the first half of this year nearly hit 7,000, up 22 per cent compared with the same period in 2007, news reports said Tuesday.
Altogether 6,899 companies were shut down in the January to June period, with 1,681 firms closing in June alone, according to figures released by the Business Development Department.
Thai firms are facing a myriad of challenges this year including rising oil prices, an inflation rate that reached 8.9 per cent in June, a slow down in consumption and growing political instability that has affected foreign investment.
During the first six months of this year, some 1,206 new companies were registered, up 6 per cent, the department's deputy director-general Pranit Lortragood told The Nation.
Thailand currently has a total of 548,818 registered companies.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
