Phuket flights and passengers increase by 10 and 20 per cent in March

The total number of passengers, both domestic and international, was 638,119 - an increase of 20.76 per cent and only 2 per cent less than the record-breaking month of February, when there were 652,468 passengers.

The Civil Aviation Department also reported that Krabi Airport accommodated 776 flights in and out, an 8.49 per cent decrease from March 2007, but the number of passengers was 106,331, up 23.01 per cent, due to larger aircraft than last year. 

Baht expected to continue strengthening

The baht is expected to continue its upward cycle in May and move in the range of Bt31 to Bt31.70 per US dollar due to continued export growth, according to Bangkok Bank's research department.

After the Fed's interest cut on Wednesday by a quarter of a percentage point to 2 per cent, the US policy rate will be 175-200 basis points lower than the euro rate. Combined with continued trade deficits, the US dollar is expected to weaken in the next three to six months, the bank reported.

It also noted there were fears that in the second half of this year, the credit default swap could trigger another shock wave like the CDO issue, and this would further pull down the greenback.

Lao private bank to open Bangkok office

A privately owned commercial bank in Laos will open its first representative office in Thailand at the end of this year, according to Thai News Agency.

Phongsavanh Bank representatives said the bank wanted to enter Thailand to help Lao workers employed locally and tourists from both countries in banking-related transactions, including payments, deposits, money transfers and money-changing in both the kip and baht.

Initially, the bank will open an office in Bangkok this year and will later add more branches in the capital and in provinces bordering Laos.