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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British Pound was close to the worst performing currency in the world
Nigel Green, the founder and CEO of the deVere Group, a leading independent international financial consultancy, says the GBP (Pound) is going to continue to be battered and bruised in the short-to-medium term, no matter who is leading the political fray. He spoke out after the Sterling dropped more than 4% yesterday in its worst performance since October 2016, based on…
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Moody’s upgrades most Thai banks’ credit ratings from ‘stable’ to ‘positive’
Moody’s Investors Service upgraded the Baseline Credit Assessments of eleven Thai banks (1) Bangkok Bank Public Company Limited (BBL) (2) Bank of Ayudhya (BAY) (3) CIMB Thai Bank Public Company Limited (CIMBT) (4) Export-Import Bank of Thailand (EXIMT) (5) Government Housing Bank of Thailand (GHB) (6) KASIKORNBANK Public Company Limited (KBank) (7) Krung Thai Bank Public Company Limited (KTB) (8)…
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Thai Airways needs restructuring to survive
Store your tray table and buckle up. It’s going to be a bumpy ride at Thai Airways. The airline’s president Sumeth Damrongchaitham say Thai Airways needs complete restructuring if it is to survive in the highly competitive aviation business. Sumeth said that under the restructuring, Thai Airways will focus more on the international market and link up with other members…
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Thailand’s headline inflation surged over 1% in March
“The SCB Economics Intelligent Centre has revised down its forecast for average headline inflation in 2019 to 0.9% year on year, a slight decline from the previous forecast of 1.0%year on year.” Thailand’s headline inflation surged to 1.24%, year on year, during March. This is up from 0.73%, year on year, in the previous month. Food and energy prices are the…
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Thai PC and notebook sales set to increase 5% in second half of year
The market for personal computers and notebook computer will grow around 4.7% in the second half of this year, as students, gaming and e-sports continue to drive growth The prediction from marketing director at Acer Computer, Nitipat Praweenwongwuthi. Acer recently conducted a survey into the needs of computer users and found that about 50% of customers who purchase gaming computers will…
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Thai Government to focus on EEC projects to propel economy
PM Prayut Chan-o-cha will unveil his new government’s policy statement in Parliament when it sits formally on Thursday. Leaks to the media indicate his 12 ‘urgent’ and 12 ‘long-term’ policies will help Thailand step up to “developed-nation status” with many of the policies focussing on the Eastern Economic Corridor project. Among the urgent policies, the sixth calls for a “future-proof”…
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International credit rating agency gives Thailand a BBB+ economic report card
Fitch Ratings has revised its outlook on Thailand’s Long-Term Foreign Currency Issuer Default Rating to “positive” from “stable” and upgraded the rating to BBB+. The revision reflects increasing international economic confidence that lingering political risks are unlikely to derail “sound macroeconomic management”, according to the international credit rating agency, Fitch. “This is demonstrated by the sustained strength of external and…
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Economists predict Thai exports could fall 3.1% this year
Economists are forecasting that Thailand’s exports will drop by up to 3.1% for 2019 after June figures fell when compared to the same period last year. After the Commerce Ministry reported a 2.1% fall in June, the SCB Economic Intelligence Centre projected the country’s exports will drop this year by between 1.6-3.1%. “Although the US-China trade meeting after the G20…
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Co-working spaces in Bangkok are re-shaping small to medium business office options
PHOTO: The Great Room Co-working spaces are opening up around Bangkok and providing a more flexible framework for businesses to grow. Advances in technology, a more mobile workforce, and unpredictable economic growth are reshaping the business environment. In the Bangkok office market, a traditional three-year lease with options to renew and the tenant fitting out the space remains the typical way…
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Residential projects launched in June up, but sale 15% lower than May
As many as 47 new residential projects were launched in Bangkok and its suburbs last month (June), 16 more than in May. This from the Agency for Real-Estate Affairs. The projects combine 13,943 units worth a total of 57.25 billion baht, with per-unit prices averaging at 4.1 million baht, the survey added. The sale of new projects launched in June…
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Phuket’s Banyan Tree celebrates 25 year anniversary with new Serenity Villas
2019 is a year of celebration for Banyan Tree Phuket, with the resort offering two brand new villa categories, as part of its year-long 25th anniversary celebration. In September this year, the iconic Banyan Tree Phuket, the flagship property for Banyan Tree Hotels & Resorts, will celebrate 25 years as Phuket’s premier holiday resort. The festivities will include the release…
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Thai Airways close to sale of used planes to US company
PHOTO: Thai Airways Airbus A340, Airplane Pictures Thai Airways International President Sumeth Damrongchaitham reports that the national airline expects to sign an agreement this month with a US logistics firm on the sale of eight used A340 aircraft worth between 4-4.5 billion baht. The company is in the process of examining the contract before closing the sale deal of Thai Airways…
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Amari Pattaya has a dramatic makeover
“Dramatic changes have taken place to the entire property, which has transformed the legendary hotel into a new paradise along the northern end of Pattaya Bay.” Today’s Amari Hotel in Pattaya has its roots back in the early 1070s when it was constructed as the Orchid Lodge. But now there’s been a major make-over under the Amari brand. Amari Pattaya’s…
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A major lawsuit has been filed by owners of JW Marriott Phuket Resort & Spa
A letter filed with the Stock Exchange of Thailand (SET) yesterday. A major spat between the owners of the JW Marriott Phuket Resort & Spa in Mai Khao and the parent management company Marriott International, Inc… Minor International Public Company Limited (“MINT”) announces that it has, through its 100% subsidiary MI Squared Limited, initiated legal action in Thailand against Marriott…
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Thailand’s Central Bank start twiddling the currency knobs to curb baht speculators
The Thai Central Bank says it is taking steps to ease the impact of speculative currency trading which has contributed to strengthening the baht. They say they’re ready to use additional measures if speculative trading continues to persist. The Bangkok Post reports the Central Bank reduced the outstanding balance of non-resident baht accounts (NRBA) and non-resident baht accounts for securities…
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Avani Hotels and Resorts re-brands two resorts in Krabi
PHOTO: Klong Dao Beach, Krabi, home for one of the new ‘Avani’ brand hotels Two new hotels are on the way for Krabi under the Avani Hotels & Resorts brand. Avani Hotels & Resorts have signed up two new resort hotels in Krabi, marking the brand’s continued growth in Thailand. The existing resorts will undergo renovations to bring the properties in…
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Talks resume in the ongoing China-US trade spat
By China Daily – Asia News Network There’s been a resumption of talks in the China-US trade.’war’ Analysts are hoping the restart in talks between top negotiators from both nations will deliver a win-win outcome. China’s Vice-Premier Liu He spoke by phone with US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin on Tuesday. According to reports, officials exchanged views…
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Post-election uncertainties see World Bank downgrade GDP further
Thai GDP growth is projected to fall from 4.1% last year to 3.5% in 2019, according to a World Bank report out today. The Thailand Economic Monitor noted that exports contracted by 4% in the first quarter of 2019 – the first quarterly contraction in three years. Private investment and household consumption continued to grow close to their three-year high, helped…
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New EU-Vietnam free trade deal threatens Thailand
PHOTO: Hanoi, Vietnam’s capital, where the new trade deals with the EU were signed last week Vietnam’s new trade deal with the EU is threatening Thailand’s trade and investment. The European Union-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement were signed on June 30 in Hanoi. Thailand has no free trade agreement with the EU so all Thai…
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Thai parliament addresses low prices for farm produce
PHOTO: Low prices for produce, from coconuts to rice, roller to oil palm The new parliament has considered urgent motions on the low prices of farm goods and resolved to set up a 39 member extraordinary House committee to look into the the matter. The new Thai House of Representatives has deliberated 11 urgent motions lodged on the issue of…
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Thai Stock Exchange best performer in Asia – first six months
The Stock Exchange of Thailand (SET) Index shows an increase of 6.8% over previous month up to the end of June, marking it as the best performer in Asia. The SET is up 10.6% from the end of 2018 to 1,730.34 points. The average daily trading value of SET and Market for Alternative Investment in June was 60.53 billion baht…
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Bank of Thailand tackles surging Thai Baht
In attempts to exert some pressure on the Thai Baht control levers, the Bank of Thailand says it’s scaling back the auction size of short-term bonds. The actions are an attempt to curb the rapid surge of the Thai Baht which hit a six-year high last Monday. The central bank has announced that the reduction of short-term bond supply is…
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Luxury condos change the face of Sathorn Road in Bangkok
by Somluck Srimalee, The Nation From Sathorn junction to Taksin Bridge, the riverside section of Sathorn Road has been transformed from a strip of shophouses to luxury residential condos in a gentrification that added 8,000 new apartments to the area. As well, the businesses have shifted to a more modern trade to replace the traditional trades. With the market trend, listed…
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The Thai Baht in 2022 – a prediction
Please note: This is just ONE website’s predictions of the currencies in the future. It should not be taken as a serious representation of the state of the world currencies in 2022. Trying to find a few good numbers amid the bad we thought we’d look forward three years to some of the world’s major currencies and their projected performance…
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