IMF projects Thai growth of 3 per cent this year

BANGKOK • The International Monetary Fund (IMF) projects that Thailand's economy will grow 3 per cent this year and 3.2 per cent next year, saying a recovery is expected to proceed modestly.

"A slight improvement in confidence and low energy prices foreshadow a pickup in private consumption. Public investment would remain a key driver," the IMF said in a statement on Monday.

It also said there is room for further monetary easing, "given the lingering negative output gap, negative headline inflation, low core inflation and expectations, and downside risks."

The Bank of Thailand has forecast Thai economic growth of 3.1 per cent this year and 3.3 per cent next year.

REUTERS

Yahoo sets deadline for preliminary bids

SAN FRANCISCO • Yahoo has set an April 11 deadline to submit preliminary bids for its Web business and Asian assets, The Wall Street Journal reported on Monday.

Yahoo asked bidders details regarding financing, conditions or approvals that would have to be met on their end, and what key assumptions they would be making by deciding to move forward with a deal, the Journal said.

A deadline for preliminary bids next month could mean that Yahoo could close a deal by June or July, the Journal said.

The faded Internet pioneer launched an auction of its core business last month after it shelved plans to spin off its stake in Chinese e-commerce giant Alibaba Group Holding.

REUTERS