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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Thai central bank may cut rates if digital wallet delayed
The Bank of Thailand might be compelled to reduce the policy rate earlier than anticipated if the new government opts to postpone the digital wallet policy slated for the fourth quarter. Analysts warn this delay could significantly impact the Thai economy. Despite the central bank’s Monetary Policy Committee (MPC) maintaining the rate at 2.5% last week, BofA Securities highlighted that…
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Export-tional growth: July’s 15.2% surge is highest in 28 months
Exports in July surged by 15.2%, marking the highest growth rate in 28 months, attributed to easing inflation and increased purchasing power among trading partners. Poonpong Naiyanapakorn, the Director-General of the Trade Policy and Strategy Office (TPSO), reported that July’s exports rose by 15.2% to US$25.7 billion (938 billion baht), primarily driven by the cooling global inflation, which considerably enhanced…
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Thailand’s female CEOs soar but the gender equality gap remains
Thailand’s female business leaders are smashing glass ceilings at an impressive rate, but the country’s gender equality struggle is far from over. With 32% of senior leadership positions in Thai businesses held by women, compared to a global average of 27%, Thailand boasts one of the highest ratios of women CEOs in the world. Nearly 90% of businesses in Thailand…
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Most Thai listed companies report Q2 this year profits
Thailand’s stock exchange disclosed that 819 out of 856 listed companies have submitted their second-quarter financial results for this year, with 631 reporting net profits. This represents a significant 77.05% of the companies that submitted financial statements. The Stock Exchange of Thailand (SET) has seen continuous growth in the second quarter of this year. Sales for listed companies in the…
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Thailand’s household debt growth slows amid stricter loan criteria
Household debt growth in Thailand decelerated in the first quarter of this year, partly due to stricter loan criteria imposed by financial institutions, the National Economic and Social Development Council (NESDC) announced. The NESDC Secretary-General, Danucha Pichayanan, reported that household debt reached 16.3 trillion baht in the first quarter of 2024, marking a 2.5% increase, which is a slowdown from…
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Thailand’s new anti-smoking rule burns Thai vendors’ profits
Thailand is stepping up its fight against smoking with a hard-hitting new regulation that could hit vendors where it hurts—right in the wallet. Starting last Wednesday, August 21, retail sellers of cigarettes and tobacco are now required to display posters warning of the severe dangers of smoking, or they could be slapped with a fine of up to 5,000 baht.…
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Mae Moh gets a farm makeover: Modern methods in full bloom
The Mae Moh Agricultural Community in Lampang Province is witnessing a significant transformation in its farming practices, focusing on modern and sustainable methods. Red oak, green oak, kale, cos, frisée iceberg, and other fresh vegetables are thriving in the community’s plots, ready for harvest. This shift towards a modern farming model is a step towards Smart Farming for the region.…
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Thai regulators intensify fight against illegal securities trading
Stock market regulators intensified their collaboration with the Anti-Money Laundering Office (AMLO) to combat illegal securities trading, aiming to dismantle criminal economic activities and boost investor confidence in the Thai capital market. A memorandum of understanding (MoU) signed yesterday, August 26, between the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) marks a significant step towards…
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Western Digital to invest 23 billion baht in Thai expansion
Western Digital Storage Technologies (Thailand) received investment incentives from the Board of Investment (BOI) for a 23-billion-baht expansion aimed at capitalising on the burgeoning cloud and data centre industry. Western Digital, commonly known as WD, will utilise the new investment to enhance its production facilities located at Bang Pa-in Industrial Estate in Ayutthaya and the 304 Industrial Park in Prachin…
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Thailand bids for 2030 Youth Olympics to boost sports industry
Two weeks after the Games of the XXXIII Olympiad concluded, Thailand is reiterating its commitment to bidding for the 2030 Youth Olympic Games, viewing it as a pivotal opportunity to advance its sports industry and generate revenue. The Governor of the Sports Authority of Thailand (SAT), Kongsak Yodmanee, stated that one of SAT’s missions is to promote sports within Thailand…
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Thailand’s TV turmoil calls for a channel change in AV rules
Thailand’s television landscape is in turmoil, and a new study says it’s time for a fresh set of rules to manage the booming audio-visual (AV) market, including streaming platforms, geo-satellite broadcasts, and digital terrestrial TV (DTT). The report, commissioned by the Office of the National Broadcasting and Telecommunications Commission (NBTC) and carried out by SCF Associates, was made public yesterday.…
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Calls for action on Chinese investments in Thailand
The new Government of Thailand is facing calls to swiftly address the growing perception that Chinese products and investments pose a threat to Thai interests. This sentiment, if left unchecked, could harm Thailand’s export and tourism sectors. President of the Panyapiwat Institute of Management and an expert on the Chinese and US economies, Sompop Manarungsan, emphasised the need for cooperation…
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Thai bus firms under siege as Chinese rivals drive them up the wall
The Thai bus industry is under siege with Chinese bus operators flooding the market with cut-rate prices and dodgy tactics, leaving Thai companies struggling to keep up. The Thai Transportation Operators Association has sounded the alarm on this cut-throat competition. Wasuchet Sophonsathien, the association’s president, laid bare the ongoing crisis. Illegal foreign bus operators are muscling in on the market,…
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Food Republic to close last Thai branch on November 22
Food Republic’s final branch in Thailand, located at Central Plaza Grand Rama IX, will close its doors on November 22. The company expressed gratitude to its loyal customers in a Facebook post, marking the end of an era for the popular food court chain. Food Republic has been a well-known name in the food court industry, originally hailing from Singapore.…
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Commerce Ministry promotes Thai SELECT restaurants
The Commerce Ministry launched prototype Thai SELECT restaurants to boost Thailand’s soft power on a global scale. Celebrating its 104th anniversary, the ministry hosted the Driving the Thai Economy with Soft Power exhibition, led by caretaker Commerce Minister Phumtham Wechayachai, on the forecourt of its building. Phumtham emphasised the ministry’s dedication to enacting policies aimed at accelerating economic recovery. These…
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Thailand opens first semiconductor R&D centre
King Mongkut’s Institute of Technology Ladkrabang (KMITL) has inaugurated Thailand’s first comprehensive semiconductor technology research and development centre, setting the stage for the nation’s enhanced role in the global supply chain. The KMITL Academy of Innovative Semiconductor Manufacturing (KAISEM) will function as a central laboratory, uniting experts from diverse fields to collaborate on semiconductor research, innovation, and electronic manufacturing processes.…
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Thailand unveils National Cyber Academy to enhance cybersecurity
The National Cyber Security Agency (NCSA) has introduced the Thailand National Cyber Academy in a bid to enhance cybersecurity literacy across the nation. Caretaker Digital Economy and Society Minister Prasert Jantararuangtong emphasised that the academy will significantly contribute to the development of IT professionals at all age levels, thereby bolstering national cybersecurity. This initiative is part of the second phase…
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EV battery boom: Can AI help Thailand drive to the top?
Thailand is revving up for a major geopolitical boost by focusing on electric vehicle (EV) batteries and auto components, including integrated circuit packaging and testing. According to Taiwan’s Profet AI, the key to speeding up product delivery, slashing costs, and raising standards lies in adopting cutting-edge artificial intelligence (AI) amid ongoing economic headwinds. Jerry Huang, co-founder and CEO of Profet…
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Baht hits 13-month peak as Bank of Thailand holds rates
The baht is poised to strengthen further, potentially reaching 34 per US dollar or even higher, following a 13-month peak attained yesterday. This surge occurred as the Bank of Thailand opted to keep the policy rate steady at 2.5%, encouraging potential inflows ahead of the US Federal Reserve’s upcoming September meeting. Closing at 34.21 on August 20, the Thai currency…
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Gold prices hit record US$2,531 amid interest rate cut speculation
Gold prices continue their upward trajectory, reaching a new record high of US$2,531 per ounce yesterday. Investors are closely monitoring signals from the Federal Reserve regarding potential interest rate cuts at its September meeting. Gold brokers attribute the increase to the asset’s status as a safe haven amid ongoing tensions in the Middle East and the Russia-Ukraine conflict. Tanarat Pasawongse,…
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Thai Airways soars to new heights with RateGain partnership
Thai Airways (THAI) is set to revolutionise its pricing strategies with a multi-year partnership with RateGain Travel Technologies, leveraging its cutting-edge platform, AirGain. This collaboration marks a significant move for the national flag carrier of Thailand as it aims to maintain its competitive edge in the global aviation market. Operating out of its central hub at Suvarnabhumi Airport in Bangkok,…
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Thailand to hold policy rate at 2.5% amid economic uncertainties
The Bank of Thailand (BoT) is poised to maintain the policy rate at a decade-high level of 2.5% during its meeting tomorrow, although analysts anticipate a greater probability of a rate cut later this year due to increasing economic challenges. Kasikorn Research Centre (K-Research), the research arm of Kasikornbank (KBank), concurs with equity analysts that the central bank’s Monetary Policy…
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Thailand launches anti-dumping probe on Chinese aluminium extrusions
Thailand’s Foreign Trade Department initiated an anti-dumping investigation into the import of aluminium extrusions from China. This move follows complaints from local steel manufacturers who claim that the surge in imports is detrimental to domestic production. Caretaker Commerce Minister Phumtham Wechayachai stated that the investigation is part of a broader strategy by the ministry to address the influx of Chinese…
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Digital wallet scheme may switch to cash to boost economy
The Budget Bureau chief confirmed that funds from the digital wallet scheme could be distributed as cash, provided the original goal to stimulate the economy is maintained. Chalermphol Pensoot stated that the distribution of 10,000 baht through the digital wallet scheme could continue, depending on the new government’s policies. “Distributing cash instead of digital money is not an issue, as…
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TikTok Shop live commerce surges: 500% growth goes viral
TikTok Shop has achieved over 500% growth in gross merchandise value (GMV) in live commerce over the past eight months, despite economic challenges, the social media platform revealed. The platform plans a substantial investment in discount promotional campaigns to boost domestic consumer spending in the final quarter of this year. This investment will surpass last year’s efforts to compete with…
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Thailand urged to expand tax cuts for rooftop solar panels
The IEEE Power and Energy Society in Thailand is urging the government to expand its new tax reduction scheme for rooftop solar panel installations, aiming to boost the adoption of clean energy. Designed to offer tax incentives to 90,000 households from this year to 2027, the scheme is awaiting final approval within the second half of the year. Households purchasing…
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Cryptos surge as BNB leads with 89.6% gain in 2024
Cryptocurrencies are experiencing a resurgence despite global economic challenges and geopolitical uncertainties, emerging as top-performing assets in the first seven months of 2024. Nvidia, one of the Magnificent 7 tech stocks on the US stock exchange, also ranks highly. Binance Coin (BNB) led the cryptocurrency returns this year with an impressive 89.6% gain as of July 22. Bitcoin followed with…
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Thailand’s economy grows 2.3% in Q2, surpassing forecasts
Thailand’s economy roared back to life in the second quarter, fuelled by a surge in consumption, tourism, and exports, according to today’s eye-popping official data. This economic boost has prompted the government to up its growth forecast for the year. The National Economic and Social Development Council (NESDC) revealed that Southeast Asia’s second-largest economy expanded by 2.3% from the same…
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Thai baht rally faces threats amid political drama and bank policy
Thailand’s recent baht rally faces a rocky road as the country dives into political chaos just before the central bank’s policy meeting this week. Since July, the baht has been a star performer, climbing up the ranks as tourism bounced back from a near two-year low against the US dollar in May. But this impressive upswing could be at risk…
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Thailand’s food exports to rise by 8.8%, hitting 1.6 trillion baht
Thailand’s food exports are set to rise by 8.8% year-on-year, reaching 1.6 trillion baht this year, according to the National Food Institute (NFI). This growth is largely attributed to increasing global demand and a decline in raw material prices, said the President of the NFI, Supawan Teerarat. “Raw materials such as tuna, sugar, soybeans, and wheat have seen a price…
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