Alex Morgan
- Politics News
Thai political truce sparks hopeful business and economic recovery prospects
Thailand‘s business leaders anticipate a more positive path for the Move Forward Party (MFP) and its seven ally political parties to constitute a government and address economic challenges, following the agreement on a House speaker. The MFP had earlier been engaged in disputes with the Pheu Thai Party over this significant role in the House of Representatives. The conflict was resolved…
- World News
UK public sector adopts blockchain for transparent government auctions
The UK public sector made a groundbreaking leap towards improving transparency and fairness in governmental auctions, by adopting the use of blockchain technology. Giving credence to this, the Controller General’s Department (CGD) confirmed the measures they’ve started to undertake since April this year. The CGD, an authority under the Finance Ministry, is renowned for its role in managing procurement processes. The…
- Business News
HomePro invests 4 billion baht in eco-friendly store, diversifies product portfolio in Thailand
Home decor and upgrade specialist, Home Product Center Plc, under the HomePro banner, declared a business expansion investment of 4 billion baht this year for store diffusion. Ittaporn Srisukwattana, the firm’s senior vice president of design and product development, articulated that this financial plan would be deployed towards the inauguration of two HomePro and eight Mega Home shops this year.…
- Economy News
Thai tourism unaffected by political unrest unless airports shut, says ex-minister
In times of political upheaval, Thailand’s foreign tourists would not be significantly impacted, unless there was an incident akin to 2008’s airport disruption, according to former tourism and sports minister, Weerasak Kowsurat. Back in 2008, protesters had shut down Bangkok’s airports leading to a drop in tourist visits, impacting Thai tourism. Weerasak, now serving as a senator, insists that tourists…
- Business News
EV Market soars as Thailand and Indonesia take the lead in Asia
In a global trend, electric vehicles (EVs) are steadily gaining traction in the worldwide automobile market, with significant growth realised in Asia-ASEAN countries, specifically Thailand and Indonesia. This comes as per a study undertaken by the BloombergNEF research agency. Ideally placed at the forefront of Asia-Pacific transportation, Senior Analyst of BloombergNEF, Allen Tom Abraham, projected a sharp increase in the…
- Business News
LGBTQ+ tourism revenue boom fuels drive for legalised same-sex marriage in Thailand
Thailand is witnessing a surge in the burgeoning LGBTQ+ community, as diversity takes centre stage worldwide, boosting LGBTQ+ tourism in the country. As per estimates by LGBT Capital, an asset management company serving the LGBTQ community, 5 to 10% of the world’s population identifies as LGBTQ+. This demographic represented around 3.6 million residents in Thailand in 2019. During Pride Month…
- Business News
Thai industries adjust strategies amid export downturn, eyes new markets
A recent downturn in exports has provoked 25 industry sectors to rethink their production strategies, the Federation of Thai Industries (FTI) has revealed. Key industries affected and readjusting include steel, machinery, construction materials and furniture, all of which significantly cater to the markets in Asia, the European Union and the United States. The FTI recently unveiled the results of a…
- Business News
Customs facilitation reform urged by Thailand’s finance minister to boost automotive sector
Finance Minister Arkhom Termpittayapaisith recently issued an appeal to the Customs Department of Thailand to streamline the customs facilitation formalities for both exports and imports. His appeal is aimed especially at boosting the activity of the automotive field. Following a discussion held with a group of investors from Japan in the core of June, Arkhom instructed the department to better…
- Business News
Experienced consultant analyses dramatic shift in Thai online shopping trends
In Thailand, online shopping appears to have become the desired norm, with a proportionate increase in consumer expectations, per a survey by advertising consultancy Wunderman Thompson. The data suggest that Thai patrons are willing to increase their online spending provided their experience includes faster delivery schedules among other factors, according to digital and customer relationship management director at Wunderman Thompson, Puvadon…
- Thailand News
Banpu eyes free power trade system amidst rising Thai electricity costs
In the face of rising electricity bills, a new opportunity is emerging for a free power trade system in Thailand, as spotted by Banpu Power Plc, the power generation arm of energy conglomerate Banpu Plc. Expecting a worldwide shift in electricity markets, the company, under Kirana Limpaphayom, its CEO, is poised to take advantage of this imminent change. The combined…
- Tourism News
Thailand’s tourism confidence slides amidst global economy concerns
The second quarter of this year saw the Tourism Confidence Index remaining subdued, sliding from the previous quarter. The contributor to this drop was a blend of Thailand‘s low season and decreased earnings from tourism. The president of the Tourism Council of Thailand (TCT), Chamnan Srisawat, announced that the second quarter’s score was two points lower than the prior quarter…
- Business News
Digital infrastructure to revolutionise Thailand’s capital market
A revolutionary digital infrastructure has been established in Thailand’s capital market, following collaborative efforts by the Stock Exchange of Thailand, the Association of Thai Securities Companies, and the Thai Bankers’ Association. The state-of-the-art system, aimed at fully electronic end-to-end bond offerings, was presented in an attempt to enhance the Thai market’s efficacy and transparency. This dynamic solution covers a broad…
- Economy News
Thai industries call for government aid to stimulate export growth amid falling rates
Industry leaders are soliciting governmental assistance in a bid to boost export growth, following steady declines observed over a streak of eight months, according to recent insights sourced from the Federation of Thai Industries (FTI). Discussions with 210 executives from 45 sectors of the industry revealed that an overwhelming 80% of respondents were in favour of government initiatives to trim…
- Business News
Thailand, UK strengthen ties towards strategic economic partnership
Thailand and the United Kingdom (UK)are looking to fortify their economic ties now the toxic dust of Brexit has settled. With the next Joint Economic and Trade Committee (JETCO) meeting on the horizon this November, it’s believed that both countries are ready to elevate their relationship to a potential strategic economic partnership. JETCO Director-General Auramon Supthaweethum spoke at length about…
- Business News
Thai tourism federation FETTA plans transformative change for streamlined operations
Faced with a long-standing need for agile operations and goal-directed development, the Federation of Thai Tourism Associations (FETTA) is set to drive transformative change in Thailand’s tourism landscape. This follows the recent realignment of seven local tourism associations that have transitioned from the Tourism Council of Thailand (TCT) to become part of FETTA. According to Adith Chairattananon, a FETTA representative…
- Business News
GPSC set to invest 8.28 billion baht in India’s Avaada Energy
Embarking on a mission to bolster its renewable energy portfolio, Global Power Synergy Plc (GPSC), the power production offshoot of PTT Plc – the national oil and gas conglomerate, is looking at investing upwards of 19.1 billion rupees (roughly 8.28 billion baht) in India-based Avaada Energy Private. This investment is aimed at leveraging the upswing in electricity demand in the…
- Economy News
Business uncertainty fuels Thai Baht dip amid political unrest and Asian currency devaluation
Embroiled in political and business uncertainty, the Thai baht plummeted to a low unseen since last November, a seven-month dip, agitating investor confidence. This occurred alongside a universal lowering in the value of various emergent Asian currencies versus an emboldened dollar, fuelled by robust US data allaying recession fears. Stock markets in the region largely painted a bleak picture, with…
- Business News
King’s Bangkok to unveil 1 billion baht teaching complex by 2024
A new chapter beckons for King’s College International School Bangkok, with an estimated completion date of 2024 for its advanced teaching and learning complex. This ground-breaking venture surfaces on the heels of the successful inauguration of the senior school in 2021. Rendering a substantial investment tally projected above 1 billion baht, King’s Bangkok carries the intent of birthing a learning…
- Economy News
Thai exports set for surge amid favourable market conditions and expansion plans
With predictions of a rebounding global economy, Thai exports are expected to witness a surge in the second half of the year, according to the nation’s Commerce Ministry. Keerati Rushchano, the permanent commerce secretary, revealed that the current competitive baht exchange rate coupled with planned market expansion initiatives could significantly boost trade. The regions targeted for market expansion include Yunnan…
- Tourism News
Russian tourism faces a slowdown in Thai markets amid Moscow’s political tension
Amid heightened political tensions in Moscow, the Association of Thai Travel Agents (ATTA) observes a potential slowdown in Russian tourists to Thailand, although an increase in long-term stay visitors is also predicted if the situation worsens further. To comprehend the short-term market movements of Russian tourism in detail, the Tourism Authority of Thailand (TAT) has instructed its Moscow office to…
- Business News
German and French firms eye Thailand’s booming electric vehicle sector
A surge of interest in Thailand’s budding electric vehicle (EV) industry has been noted among businesses from France and Germany. The Thailand Board of Investment (BoI) revealed this interest following an investment promotion roadshow in these European nations. The BoI’s Deputy Secretary-General, Wirat Tatsaringkansakul, suggested a particularly keen receptiveness from French and German investors. These potential investors are reportedly looking…
- Business News
Economic disparity in Thailand widens, agricultural sector hit hardest
The age-old struggle with economic disparity continues to cast a shadow on Thailand’s society as inequality widens, particularly in the agricultural sector, which sees roughly 6% to 8% of its populace remaining below the poverty line. According to a recent study by the Trade Policy and Strategy Office (TPSO), this disparity has been fuelled by multiple factors, including the move…
- Economy News
Fitch ratings reveal Thailand’s economic recovery to boost corporate earnings in 2023
Recovery of the domestic economy and alleviation of inflationary pressures are set to bolster the performance of corporations in Thailand this year, suggest analysts from Fitch Ratings during the 2023 Thailand Corporate Credit Outlook & Asean ESG conference, held recently in Bangkok. Corporates at Fitch Ratings (Thailand)’s Lertchai Kochareonrattanakul, a senior director, indicated in his talk that a boost in…
- Business News
ChatGPT security: Asia-Pacific tops list in account breaches, Group-IB reveals
In a comprehensive study conducted by the international cybersecurity corporation Group-IB, over 100,000 infiltrated ChatGPT accounts have been detected in concealed Internet marketplaces. In the last year, the majority of these ChatGPT credentials were discovered within the Asia-Pacific region, threatening ChatGPT security. Through the close survey of stealer-riddled devices, Group-IB identified upwards of 101,134 technological instruments storing saved ChatGPT credentials.…
- Business News
Boggle Boggle: Korean noodle pop-up store debuts in Thailand with K-drama experience
In a move influenced by the continued fascination with K-pop culture among Thai enthusiasts, ‘Boggle Boggle,’ a Korean noodle pop-up store reminiscent of the famed late-night food spots or vintage red tents frequently portrayed in South Korean TV dramas, has made its recent debut in Thailand. Hosting its grand opening on June 24, Boggle Boggle occupies a space on the…
- Business News
Hydrogen program launched by Egco to cut CO2 emissions in the US
A significant advancement in the pursuit of cleaner energy took place recently, as Electricity Generating Plc (Egco), a subsidiary of the state-run Electricity Generating Authority of Thailand, launched a hydrogen program. This new initiative is set in the Linden Cogen thermal cogeneration plant’s 172-megawatt Unit 6, located in the US. The hydrogen fuel blending programme is part of a wider…
- Economy News
Thai economy booms as government’s fiscal income beats projections with 122bn baht surplus
The Thai economy demonstrates strong recovery and active imports as the Thai government’s net income during the first two-thirds of fiscal 2023 has surpassed projections by 122 billion baht, revealed Fiscal Policy Office Director-General, Pornchai Thiraveja, 42 years old. Between October 2022 and May 2023, the Thai government raked in a total of 1.64 trillion baht, which is an 8%…
- Business News
Thailand’s real estate sector eyes foreign investment boost
With an eye on boosting the economy, real estate developers and consultants are urging Thailand‘s new government to implement policies that promote foreign investment. They believe such measures will stimulate a more positive environment for overseas buyers in the property market, suggesting promotional efforts to increase awareness among foreign investors. Artitaya Kasemlawan, head of residential sales projects at CBRE Thailand,…
- Business News
Global Thai rice export forecast to surpass 8 million tonnes
The appeal for Thai rice continues to be significant globally, with both Indonesia and Bangladesh expressing their aspirations to buy the grain through G2G or government-to-government contracts. Ronnarong Phoolpipat, head of the Foreign Trade Department, stated that the immense global demand for Thai rice is likely to boost exports to surpass 8 million tonnes this year. The department has plans…
- Business News
Drought hits Thailand’s cassava yield, imports to fill shortfall predicted
A projected decrease in Thailand’s yield of cassava and its by-products from 11 million tonnes last year to an estimated 9 million tonnes this year has been attributed to drought conditions. This situation is further compounded by more farmers opting for sugar cane cultivation instead. Ronnarong Phoolpipat, director-general of the Foreign Trade Department, revealed that despite the drought-induced shortfall in…
