Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
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Sponsored 5 ways retirees in Thailand lose money (and how to stop it)
Retiring in Thailand can be affordable and enjoyable, but many retirees lose money due to common mistakes. High living costs, scams, and unexpected expenses can quickly drain savings. There are five ways that retirees in Thailand can lose money and...
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Thailand’s tourism confidence index drops amid floods, economy
Thailand’s tourism confidence index for the third quarter saw a significant drop year-on-year, remaining below the benchmark due to challenges such as factory closures, rising unemployment, increasing non-performing loans, and severe flooding both domestically and internationally, according to the Tourism Council of Thailand (TCT). The TCT has scheduled a meeting with the Tourism Authority of Thailand‘s board chairman tomorrow to…
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5 tips for a professional headshot
A professional headshot is more than just a photo – it’s an important tool for making a strong impression in the digital world. But if you’ve never had a professional headshot taken, the thought of getting one might intimidate you a little bit. Here are five tips to help you capture a headshot that shows you in your best light…
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Power play: B.Grimm sets sights on electrifying China and Greece
B.Grimm Power appears to be on a mission to take over the global energy scene, with China and Greece now in its sights. The Thai energy giant is exploring renewable projects in these two countries, aiming to add several hundred megawatts to its portfolio. CEO Harald Link teased the plans but kept most details under wraps, stating that talks were…
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Thai Vietjet’s foreign pilot plan under scrutiny by AirAsia executive
The Airlines Association of Thailand (AAT) deemed Thai Vietjet’s request to allow foreign pilots to fly domestic routes via a wet lease arrangement as acceptable, citing its temporary nature. However, an AirAsia executive has expressed strong opposition to this proposal. AAT President Puttipong Prasarttong-Osoth says he sees the wet lease arrangements as a win-win situation, as airlines can temporarily increase…
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Thailand eyes higher inflation target to push for rate cut
Sources familiar with the discussions have revealed that Thailand’s Finance Ministry plans to propose an increased inflation target of 1.5% to 3.5% for the coming year. This move is likely to exert additional pressure on the central bank to lower its key interest rate. Talks between the Finance Ministry and the Bank of Thailand (BoT) to finalise this new price…
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Green dreams: EU-ASEAN leaders forge path to eco-future
Top EU-ASEAN business leaders and cooperation agencies came together for a high-powered Partners’ Dialogue forum to tackle the opportunities and challenges of ASEAN’s green transition. The event was hosted by none other than the European Union’s Ambassador, H.E. Sujiro Seam. Representatives from EU-ASEAN institutions, member states, businesses, and cooperation agencies gathered to share insights and experiences on ASEAN’s journey towards…
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Crypto mania: Bitcoin set to skyrocket as interest rates plummet
Merkle Capital is forecasting a surge in Bitcoin prices and a flurry of cryptocurrency investments this month, thanks to the global trend of dropping interest rates. Investment wizard Woramet Chansen from Merkle Capital spilled the beans, noting that Bitcoin’s price rocketed over 25% in September. This came hot on the heels of the US Federal Reserve’s first rate cut in…
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Middle East tensions may impact OFFO’s debt repayment strategy
Rising tensions in the Middle East, particularly between Israel and Iran are anticipated to push global crude oil prices higher, potentially impacting the Oil Fuel Fund Office’s (OFFO) debt repayment strategy, according to a spokesperson from the Energy Ministry. Uncertainty surrounds whether the United States will back potential Israeli strikes on Iran’s oil infrastructure, raising concerns about oil price volatility,…
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Vietnam records highest GDP growth in two years despite typhoon
Vietnam achieved its highest economic growth in two years during the quarter ending in September, driven by robust exports, industrial production, and an increase in foreign investment. This positive development comes despite the devastating impact of Typhoon Yagi, Asia’s strongest typhoon this year. The General Statistics Office reported a 7.4% year-on-year growth in gross domestic product (GDP) for the third…
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Thailand cash handout to boost Q4 GDP growth despite challenges
The Thai government’s initial cash handout is anticipated to boost the national economy in the upcoming months, according to industrial leaders and brokerages. They recommend that the second phase of the handout target individuals with higher purchasing power to prolong economic stimulation. In the first phase, the government distributed 10,000 baht in cash to each of the 14.5 million welfare…
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Thai Airways’ growth strategy takes off
Thai Airways International (THAI) is set to transform some of its business units into subsidiaries as part of its growth strategy. Chai Eamsiri, THAI President, announced the plan, emphasising the potential for various business units to operate independently. Chai highlighted the initial focus on the aircraft maintenance and catering divisions, which boast an estimated average profit margin of nearly 20%…
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Rice to the occasion: Thai prices drop as India returns to the market
Thai white rice prices have started to fall after India decided to resume non-basmati white rice exports. Despite this development, this year’s rice export volume remains unaffected, according to Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association. Chookiat stated that on September 28, the Indian government lifted a ban on non-basmati white rice exports that had been in…
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LINE MAN Wongnai expands food delivery across Thailand
LINE MAN Wongnai is significantly expanding in Thailand’s food delivery market, with over 10 million users monthly and more than 100,000 riders servicing all 77 provinces. Yod Chinsupakul, CEO of LINE MAN Wongnai, highlighted the continuous growth of the food delivery market in Thailand. The platform now caters to over 10 million users each month and has a rider network…
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Finance minister prioritises funding access over rate cuts
Finance Minister Pichai Chunhavajira affirmed the significance of access to funding sources over lowering interest rates. Following discussions with Bank of Thailand Governor Sethaput Suthiwartnarueput, Pichai underscored that interest rate policy remains under the purview of the central bank’s Monetary Policy Committee (MPC), which is set to convene on October 16. Describing the talks as comprehensive, Pichai highlighted various factors…
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Thailand unveils 145 billion baht cash handout to boost economy
Deputy Finance Minister Paopoom Rojanasakul unveiled a whopping 145 billion baht ((US$4.4 billion) cash handout scheme that promises to rev up the economy before the year’s end. This mega injection is set to turbocharge the nation’s GDP by a tidy 0.3 percentage points. And it’s not just a flash in the pan, the economic boost is expected to keep rolling…
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Thai businesses gear up for AI-mazing future with tech adoption plans
A recent survey reveals that approximately 17% of Thai organisations are currently utilising artificial intelligence (AI), with 73% planning to adopt the technology in the future. This data comes from the Readiness for the Application of AI Technology for Digital Services in 2024 survey, conducted by the Electronic Transactions Development Agency (ETDA) and the National Science Technology Development Agency (NSTDA).…
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Thai business group demand rate cut to keep exports afloat
Thailand’s leading business group called for an urgent reduction in interest rates, reflecting growing concerns about the impact of a rapidly appreciated baht on exports. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) chairman, Sanan Angubolkul, highlighted the urgency for the Bank of Thailand (BoT) to adjust rates, aligning with the government’s repeated calls for monetary easing. Markets…
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Driving change: Thai tax breaks on cars for the elderly, disabled
The Excise Department is set to introduce a new ministerial regulation to waive taxes on cars designed specifically for the elderly or people with disabilities. This regulation would reduce the current excise tax rate of 25 to 40% on such vehicles. Ekniti Nitithanprapas, director-general of the department, explained that vehicles with over 10 seats, such as passenger vans, are currently…
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Thailand to go cashless by 2028, leads ASEAN in RTP usage
Thailand is set to transition to a cashless society more swiftly than its regional counterparts, driven by the nation’s rapid digital adoption and transformation, as per a Visa survey. Visa, a global leader in digital payment services, recently conducted the Consumer Payment Attitude Study, which indicated that Thailand could become a cashless society by 2028. This forecast places Thailand ahead…
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AIS launches 5G movie package for youths at 299 baht monthly
AIS ZEED 5G launched the AIS ZEED 5G Movie Lover package, catering to youngsters who love watching movies and entertainment content both in cinemas and online. This package offers one free cinema ticket per month and a second ticket for just 50 baht at Major Cineplex theatres nationwide. Additionally, subscribers receive 10 gigabytes of high-speed Internet for streaming premium content…
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Thai Airways to issue new shares worth 42 billion baht
Thai Airways International Plc (THAI) is set to issue new shares valued at a minimum of 42 billion baht by December, marking a significant move towards concluding its court-monitored debt restructuring and resuming trading on the Stock Exchange of Thailand (SET). The national airline plans to offer 6.81 billion new shares to creditors as part of a debt-to-equity swap, as…
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Thailand’s bold plan to regulate sex work sparks heated debate
Thailand Prime Minister Paetongtarn Shinawatra’s government is stirring up controversy with a proposal to develop an entertainment complex aimed at formalising underground businesses—sex work included. The plan is designed to bring these industries into the formal economy, making them taxable, and, in the long term, funding welfare programmes in education, public health, and infrastructure. But the proposal has ignited a…
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New Thai bank licences grapple with early profitability challenges
The winners of the Bank of Thailand’s virtual bank licences are expected to face significant challenges in achieving profitability in the initial years, as the industry typically experiences high cash burn during the first five years, according to KGI Securities. Siam Commercial Bank (SCB) is projected to benefit the least from a virtual bank licence compared to other Thai banks…
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New action plan to tackle global trade shifts and aid Thai industries
The International Institute for Trade and Development is set to unveil an action plan designed to address shifts in global trade regulations and industry supply chains. The institute aims to present this strategic plan to the Commerce Ministry, the Thai Chamber of Commerce, and the Federation of Thai Industries by November. Suphakit Chareonkul, the executive director, highlighted that recent global…
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Boost Songkhla tourism with better rail links to Malaysia, says guide
Promoting Songkhla province’s cultural attractions and enhancing rail connections with Malaysia could significantly boost tourism, according to the founder of the Songkhla Tour Guide Association. Wittaya Saelim addressed these suggestions in a proposal recently submitted to Senator Chaiyong Maneerungsakul in the Hat Yai district. The proposal focused on addressing the province’s trade and tourism concerns and identifying ways to increase…
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Strong baht, flooding impact Thailand’s tourism market deficit with Japan
The appreciation of the baht and severe flooding have emerged as pivotal factors for Thailand’s tourism industry, particularly with the High Season fast approaching. The final quarter is crucial in determining if Thailand can rebalance its tourism market deficit with Japan, which outperformed Thailand last year. By August, 706,500 Thais had visited Japan, while 668,221 Japanese tourists had travelled to…
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Thai baht surge hits exporters and tourism revenues
Thailand’s exporters and tourism sector are feeling the squeeze as a rapid appreciation of the Thai baht continues to impact revenue. The central bank attributed this surge to a weak US dollar and stronger regional currencies, such as the Chinese Yuan and Japanese Yen. Yesterday, September 30, the baht reached a 31-month peak at 32.235 against the US dollar, marking…
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Thailand’s household debt dips to 89.6% of GDP in Q2
Thailand’s household debt saw a slight decline in the second quarter as banks tightened lending practices to mitigate bad loans, and borrowers hastened debt repayments amidst the highest interest rates in a decade. Data released by the Bank of Thailand (BoT) yesterday, September 30, revealed that nationwide household debt, as a percentage of gross domestic product (GDP), stood at 89.6%…
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Thai Airways partners with Gulf Air, adding six new destinations
Thai Airways International (THAI) anticipates a boost in revenue following the enhancement of its code-sharing agreement with Gulf Air. THAI announced the expansion of its partnership with Gulf Air yesterday, September 29, to include new destinations: Cairo, Kuwait City, Amman, Casablanca, Athens, and Manchester. This agreement took effect immediately. Previously, the collaboration between the two airlines was limited to routes…
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EEC housing market crashes: It’s a real estate shake-up
Sales of residential units in the Eastern Economic Corridor (EEC) have taken a nosedive, particularly near industrial estates, following a wave of factory closures. Vichai Viratkapan, acting director-general of the Real Estate Information Center (REIC), pointed the finger at the shuttering of large factories since last year, which has severely impacted housing demand in Chon Buri and Rayong. “New sales…
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