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Four major Thai banks will close branches in Laos

Four major Thai banks, including Thai Military Bank, Bank of Ayudhya, CIMB Thai Bank, and Bangkok Bank, have decided to close their branches in Laos.

Key TakeawaysFour major Thai banks are closing branches in Laos due to stricter regulations and decreased business activities.The banks cited tighter regulations imposed by Lao authorities, increased operating costs, and a decline in cross-border trade and investments as reasons for their withdrawal.While some major Thai banks continue to operate in Laos, others are reassessing their business strategies and closing branches that are not meeting targeted returns.

The branches to be closed are Thai Military Bank’s Vientiane branch, Bank of Ayudhya’s Savannakhet branch, CIMB Thai Bank’s Vientiane branch, and Bangkok Bank’s Pakse branch in Champasak province.

Bangkok Bank had opened a second branch, in Pakse, on January 5, 2016 to expand services to southern Laos and the Emerald Triangle.

However, Bangkok Bank, B…

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How China’s economy slowdown affects Thailand

China's economic slowdown has raised concerns among global leaders and economists. Despite experiencing significant growth over the past few decades, recent data indicates a decline in growth rates. This has sparked discussions on the impact of the slowdown on the global economy and potential strategies to address the issue. Key Takeaways: - The slower growth in China's real estate sector and debt problems could potentially lead to an economic crisis that impacts the global and Thai economy. - China's growth is being hindered by factors such as slowing investment, a drop in domestic consumption, strict import and export restrictions, high public debt, and the risk of deflation. - Thailand's export sector is already slowing down due to global recession and geopolitical uncertainty, and China's slowdown will further reduce revenue from trade and tourism. - Concerns are growing over the potential contagion effect of China's economic slowdown, especially for Hong Kong and Singapor…
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