No rate rises at Govt Savings Bank

The bank is also planning to cut rates on its home loans.

BankThai put on Fitch rating watch

Fitch Ratings has placed BankThai's rating on Rating Watch Evolving (RWE) following the acquisition offer from CIMB Group.

If the sale to CIMB is approved by the Finance Ministry and completed, Fitch will likely affirm the Support rating at "4", and could upgrade the rating, if CIMB acquires a majority stake through a subsequent mandatory tender offer.

In the event the sale is not completed, the Support rating will likely remain on RWE pending clarification of state support for a further recapitalisation needed to restore the bank's financial strength.

SKF to buy Peer's Rayong facilities

SKF has signed an agreement with the owners of Peer Bearing to acquire Peer and its manufacturing operations in China and in Rayong.

Peer is a US-based bearing company selling primarily to North American customers.

SKF said the acquisition was aimed at strengthening its presence in the North American market in certain segments. 

SECC sells Bt965m in three-year bonds

Swedish Export Credit Corp has sold three-year bonds worth Bt965 million to secure long-term local currency financing.

SECC is one of only a few Nordic entities authorised by the government to issue baht bonds.