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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How can young drivers reduce their car insurance premiums?
SPONSORED Being a young driver is an incredibly exciting time. It’s a coming of age where you score one of your biggest achievements to date and gain a whole new level of freedom and flexibility. Of course, as exciting and life-altering as it is, one thing that can put a new driver off of the experience, is the fact that…
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Thai anti-corruption body names names over Thai Airways Rolls Royce engine scandal
Part of the debacle Thai Airways finds itself in now harks back to poor decisions made 30 years ago with some “expensive” aircraft engine purchases. Since then there have been numerous investigations and serious charges levelled against Rolls Royce over payments made to Thai Airways personnel. Rolls Royce has since settled over the case following an investigation by the British…
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Thai Airways’ revenue finally takes off
Thai Airways’ July progress report reveals a promising outlook for Thailand’s flag carrier, which expects to exit its financial rehabilitation plan earlier than planned. The airline’s revenue has shot up due to increased passenger traffic, but cutting costs, selling stock, and chasing debts have been Thai Airways’ secrets to getting back on track. After improving its performance, Thai Airways submitted…
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Wealth decreasing among top 50 richest in Thailand
While the wealth of the 50 richest people in Thailand has fallen nearly 6% to a collective US$151 billion, Forbes Asia has announced at the top 10 richest people in the country remain in mostly the same ranking. Charoen Pokphand Group’s Chiaravanont brothers saw their wealth decrease by nearly US$3.7 billion this year but still remain the richest in Thailand…
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Thai PM promises to accelerate Thailand’s electric vehicle future
The Thai PM wants to cement Thailand’s reputation as the biggest SE Asian hub for car manufacturing, and electric cars too. Currently Thailand is the world’s 10th largest manufacturer of vehicles (OICA 2021). Some of the world’s leading automobile manufacturers – Honda, Toyota, Mitsubishi, Nissan, Suzuki, Mazda, Mercedes Benz, Ford, Volvo and BMW – have manufacturing plants in Thailand. Last…
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Thai Airways has sold 11 of its old aircraft, 26 to go
Thai Airways has managed to sell the first 11 aircraft out of a total of 37 it has put up for sale as part of its bankruptcy recovery program. The airline’s acting president, Chansin Treenuchagron, ay Thailand’s transport minister has permitted Thai Airways to sell 1 older Boeing 737-400 plane and 10 Boeing 747-400 ‘Jumbo’ jets. Thai Airways had found…
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Thai state bank offers loans to LGBTQ+ couples for first time
Thailand’s state-run Government Housing Bank has taken a progressive step forward by offering mortgage loans to couples in the LGBTQ+ community. The move by the Bangkok-based financial institution could lead the way forward for more change, such as same-sex marriage in Thailand, after the bank’s pioneering move made it easier for the Thai Pride community to own their own home.…
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Phuket’s Central Patong shopping mall plans reopening and recruitment drive
Central Patong shopping mall in Phuket is launching a large-scale recruitment drive on the back of plans to reopen after a year of closure due to the pandemic. Central Department Store, the managers of the shopping centre, informed stores in the Central Patong shopping mall of the temporary closure on February 1 last year. But on Saturday, the Thai department…
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UPDATE: Police arrest fraudulent Japanese restaurant owner at Suvarnabhumi Airport
UPDATE: Police arrest fraudulent Japanese restaurant owner at Suvarnabhumi Airport Today, Thailand’s Central Investigation Bureau arrested the fraudulent owner of Daruma Sushi, a famous Japanese restaurant chain, at Suvarnabhumi Airport. “Metha” returned to Thailand today having fled to Dubai in the UAE on June 16, after he received over 500 complaints from unhappy customers and staff. Police said Metha caused…
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Flip a coin – bumpy ride for the crypto-faithful
The following is a news opinion and NOT financial advice. If you’re into trading or investing in cryptocurrencies you already know it’s been a rocky ride. Just one roller coaster crypto-ride – Bitcoin – stands out since it hit a peak on November 8 last year. And has tanked 70% of its perceived value since. Today the online crypto-gurus are…
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How do you pay for online casinos in Thailand?
Despite ‘mostly’ being illegal in Thailand, gamblers and entrepreneurs alike are finding smart and innovative ways to circumnavigate the laws. The use of VPNs makes almost anything impossible, possible when you’re online, and it’s no different when gambling! What was once a relatively niche part of the overall gambling industry, online gambling has grown to be by far the most…
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Thailand offers 5-year income tax exemption for foreign actors
The cabinet approved a 5-year personal income tax exemption for foreign film stars who earn income from foreign movies shot in Thailand. The government revealed they wanted to attract more film crews and expected the movie industry to generate about 17.5 billion baht over those 5 years. The PM’s Deputy Spokesperson, Ratchada Thanadirek, says that the government wants to encourage…
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Minimum Thai wage up to 650 baht for 16 careers
The Thai Royal Gazette has now officially announced the increase of the minimum Thai wage for workers in 16 careers, focusing on workers in construction, service and industrial industries. The wage is increased up to 650 baht per day from the former rate of about 313 – 336 baht per day. The policy was launched on June 10 and would…
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Thai nightlife midnight closing time under pressure this week
The current ‘official’ closing time for nightlife venues, in 31 provinces around Thailand (yellow and blue zones), is midnight. That all kicked in at the start of this month. But, hey, it’s Thailand and there’s also been plenty of venues, particularly in the tourist zones, where the midnight close time has been stretched a bit. But some netizens have noticed…
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Huge Bangkok bar raided as police arrest underage and customers for drug possession
Despite the ‘official’ closing time for nightlife venues around Bangkok being extended to midnight, from 11pm, on June 1, many venues have continued to push their luck with authorities for the last few months. This venue since February. Yesterday morning Pathumwan district police raided a bar in Bangkok’s Rong Muang area after receiving a tip off that the venue had been…
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Meta downgrades commitment to Facebook News service, tech giants don’t want to pay for News
Meta, aka Facebook, are looking to review commitments to pay publishers for their news articles. The payments, said to be 100s of million US$ a year to mostly larger news publishers, have shown little return to the Facebook platform or gained them many extra users. Some of the larger publishers, both in the US and elsewhere, are going to have…
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Energy crisis will continue for 2 years says Bangkok Bank VP
The Russia-Ukraine conflict continues to be a political football as energy prices rise throughout the world. Russia is the world’s second highest exporter of crude oil after Saudi Arabia and accounts for around 10% of global petroleum production. International Energy Agency figures for December 2021 reveal the former Soviet state’s oil exports were 7.8 million barrels a day. But since…
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Thailand will not starve, says Commerce Minister
Deputy PM, and Commerce Minister, Jurin Laksanawisit, yesterday moved to ease fears of food shortages in Thailand on the back of recent protectionism measures introduced by neighbouring countries, export bans, and the ongoing Russia-Ukraine conflict threatening to worsen world food supplies. Jurin declared Thailand has an “abundance of food” produce and there will be no shortages despite the recent embargos.…
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Commerce Ministry says Thais should sell to Chinese customers on TikTok
The Ministry of Commerce has come up with a cunning plan that Thai people could make more money by selling products, especially clothes, to Chinese people via the popular TikTok app. The ministry also came up with tips and ideas for Thai sellers who want to win new Chinese customers on TikTok. Yesterday, the Director-General of the Department of International…
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Thailand’s biggest new attraction “Andamanda” opens in Phuket
Moisture and adventure meets Thai culture and mythology at Andamanda, Thailand’s biggest water park, covering 58 rai of land in Kathu, in Phuket, southern Thailand. On Saturday, Thailand’s former deputy prime minister Suwat Liptapanlop attended the water park’s grand opening. The new theme park is located on the main road to Patong, about 800 metres west of the Samkong intersection,…
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Uncertainty hangs over Bangkok-Betong route as Nok Air considers its options
Nok Air’s flights between Bangkok and Betong, in the southernmost province of Yala, could be in jeopardy, as the carrier considers its options. The struggling low-cost airline is incurring financial losses on the Don Mueang to Betong route, according to Nok Air CEO, Wutthiphum Jurangkool. According to a Bangkok Post report, the airline expects losses to reach 40 million baht…
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Thai airlines say recovery being held up by high fuel prices
The head of commercial operations at Thai Lion Air says high oil prices continue to hinder recovery in the aviation sector. Nuntaporn Komonsittivate says that, while tourism is slowly improving since the easing of entry restrictions, airlines are still struggling. “The airline business has grappled with the pandemic for more than 2 years. Oil prices account for 30% of operational…
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Mixed fortunes for Thai Airways but nation’s flag carrier confident of financial take off
Financial figures released yesterday by Thai Airways International revealed mixed fortunes for the Bangkok-based airline. Thailand’s flag carrier airline declared a net loss of nearly 3.4 billion baht on revenue of 11.2 billion baht in Q1, an improvement on the 11.2 billion baht net loss from the same period last year, but on the positive side the company also noted…
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Thai aviation industry says international flights at only 20% of pre-pandemic level
The Thai Airlines Association says that in the first 4 months of this year, domestic flights have returned to nearly 100% of their pre-pandemic level. However, international flights have still only reached 20% of pre-Covid-19 levels. TAA president, Putthiphong Prasatthong-Osot, says the lifting of some travel restrictions has led to an increase in passenger numbers, but adds that it will…
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Labour Minister says government considering increasing minimum wage to 492 baht
Thailand’s Labour Minister says the government is considering increasing the daily minimum wage to 492 baht. Suchart Chomklin was addressing the Anti-Fake News Centre in an attempt to clarify rumours circulating on social media, according to a Nation Thailand report. “The ministry has discussed the raise with representatives of workers’ unions and businesses based on the rate submitted by the…
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Nightlife venues in “blue zones” want permission to re-open from June 1
Thailand’s nightlife venues are demanding to be allowed re-open for business in “blue zone” tourism areas from June 1. According to a Bangkok Post report, the proposal is one of several being submitted to PM Prayut Chan-o-cha today. Sa-nga Ruangwatthanakul from the association of Khao San Road business operators says the proposals are being put forward by over 10 associations…
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Strict Covid-19 rules make companies in China think about moving investments
Now that 43 cities in China are under either full or partial lockdown, more and more European companies in the country are seeking to move their investments. The European Chamber of Commerce in China announced today that nearly a quarter of respondents on a survey were considering moving current or planned investments out of China. 92% of the respondents say…
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Is Lazada coming to Europe?
Lazada might be coming to Europe! In efforts to target local European vendors, Alibaba Group reportedly plans to expand its Southeast Asian arm, Lazada, to Europe. Sources that told Reuters the news did not specify which European countries Lazada intended to expand to. Lazada is commonly known as an Asian version of Amazon. The sources said an overseas commerce head…
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Does Thailand need casinos? Study to be submitted next month
In May, a committee of Thailand’s cabinet members and politicians will submit a study on the feasibility of bringing casinos, and casino resorts to Thailand, to the country’s House of Representatives. The first resort would likely be in Bangkok, however the committee is discussing opening more in other tourist destinations after that. Rumours have yet to be confirmed that Las…
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Economic aftershocks of Russia’s invasion on Thailand’s economy
Nearly two months after Russian President Vladimir Putin decided to invade Ukraine, countries across Asia are bracing themselves for rising inflation and supply chain disruptions, following increasing sanctions on the Russian state. According to experts, the most affected country in Asia is Thailand, where commodity trading with its European counterpart has become almost impossible. Different types of commodities traded and…
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