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 industries fear trade slump due to Myanmar conflict
The Federation of Thai Industries (FTI) voiced concerns over the escalating armed conflict in Myanmar, predicting a further slump in border trade and a surge in illegal workers from Myanmar into Thailand. The Thailand-Myanmar border trade, valued annually at 100 billion baht (US$2.7 billion), tends to suffer whenever conflict escalates, according to Kriengkrai Thiennukul, chairman of the FTI. “There are…
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BoT holds policy rate, predicts consistent economic growth
The Bank of Thailand has kept the policy rate steady at 2.5% during its latest meeting, rejecting governmental calls for a decrease. The decision, marking the third consecutive meeting with no change, is based on the Thai economy’s consistent growth, which has already exceeded 2023 levels. Piti Disyatat, the secretary of the Bank of Thailand’s Monetary Policy Committee (MPC), stated…
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Thailand’s tourism sector set to generate 614 billion baht in Q2
Despite the second quarter often being perceived as the off-peak season, the Tourism Authority of Thailand (TAT) anticipates that the country’s tourism sector will generate a revenue of 614 billion baht (US$ 16.7 billion). This optimistic prediction is attributed to a surge in domestic trips during the Songkran festivities scheduled for this month, which are set to surpass the number…
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Thai construction firm ITD seeks additional financial backing
Financially beleaguered construction company Italian-Thai Development (ITD) hopes to receive more financial backing from lenders to complete over 100 ongoing construction tasks while also vying for additional projects from the now active 2024 fiscal budget. ITD, listed on the Stock Exchange of Thailand (SET), has plans in the pipeline to offload its non-performing assets, including Asia-Pacific Potash Corp. Meanwhile, a…
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Thailand faces first consumer confidence dip in eight months
A recent survey has revealed a decline in Thailand’s consumer confidence for the first time in eight months. This dip in March is attributed to a sluggish economic recovery and escalating living expenses. The University of the Thai Chamber of Commerce (UTCC), which conducted the survey, reported a decrease in the consumer index to 63.0 in March, down from 63.8…
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Thai banks’ loan jitters: ITD woes prompt provision provisions
Two major Thai banks, Siam Commercial Bank (SCB) and Krungthai Bank (KTB), have set aside provisions for possible loan losses related to Italian-Thai Development Plc (ITD), one of the nation’s foremost contractors. Provisions have been determined using a forward-looking expected credit loss (ECL) framework, according to Arthid Nanthawithaya, chief executive of SCB X, SCB’s holding company. Despite economic uncertainties and…
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Thai stocks shed by foreign investors amidst delayed US rate cuts
The Stock Exchange of Thailand (SET) reported that foreign investors offloaded Thai stocks to the tune of 68.9 billion baht (US$ 2 billion) in the first quarter, with 41.2 billion sold in March alone. This trend is linked to the delayed US interest rate cuts, weaker financial performance of Thai companies compared to those on other exchanges, and overall economic…
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Splashy Songkran: Thai restaurant sales set to surge despite economic lull
Looking ahead to the upcoming Songkran festival, a trade group predicts a boost in restaurant sales during the second quarter, which could potentially surpass pre-pandemic levels, despite the current stagnant economy. Thaniwan Kulmongkol, President of the Thai Restaurant Association, noted that although the second quarter is typically a slow season for the Thai restaurant industry, the Songkran festival is expected…
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Chevron abandons operations in Myanmar’s Yadana gas field
In an unprecedented move, Chevron, the US energy giant, has abandoned its operations in the Yadana natural gas field in Myanmar, as confirmed by a company representative. This decision comes over two years after the corporation expressed concern about the violence and human rights violations in the military-controlled nation and declared its intention to withdraw. The 41.1% stake in the…
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Chinese automaker Hozon aims to double its EV sales in Thailand
Hozon New Energy Automobile Co, a Chinese manufacturer operating as Neta Auto, has set a target to double its electric vehicle (EV) sales in Thailand to 30,000 units this year. The announcement was made during last month’s Bangkok International Motor Show. The company’s swift rise in popularity in Thailand, a market previously dominated by legacy automakers, is a testament to…
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PTT assures adequate LNG reserves to beat heat in Thailand
With summer temperatures expected to soar, PTT Plc, Thailand’s national oil and gas conglomerate, has assured that its liquefied natural gas (LNG) reserves are up to the task of meeting the country’s increased electricity demand. In Thailand, 60% of the fuel used for electricity generation is gas. As a result, PTT is prepared, with gas reserves of 6 billion cubic…
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AI poised to propel global productivity, says Microsoft CEO
Microsoft Group Chief Executive Officer (CEO) Satya Nadella has identified a pressing global need for a new artificial intelligence (AI) growth engine to unlock potential. According to Nadella, AI has emerged as the most potent technology since the inception of the Internet era and is capable of propelling worldwide productivity growth. The 56 year old CEO stated that the previous…
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Maybank’s bet: Thailand casinos could hit jackpot, boosting GDP
Maybank Securities, a unit of Malaysia-based Maybank, forecasts that the potential introduction of casinos in Thailand with gambling facilities could yield an annual revenue of 187 billion baht, equivalent to about 1% of Thailand’s gross domestic product (GDP). The forecast, based on an assessment carried out by Maybank’s gaming analyst and tourist arrivals in Thailand in 2019, anticipates the first complex to…
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Bank of Thailand likely to cut policy rate, predicts CIMB Thai Bank
The Bank of Thailand (BoT) is predicted to lower its policy rate tomorrow, providing a short-term stimulus to the nation’s economy, which has been hampered by budget disbursement delays. Amonthep Chawla, lead economist at CIMB Thai Bank (CIMBT), believes the central bank’s Monetary Policy Committee (MPC) will favour a reduction in the policy rate at the upcoming meeting, with a…
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Healthy alliance: Thai-US partnership to inject vitality into EEC healthcare
A joint venture is underway between Thailand and the United States, aimed at boosting investments within the healthcare and medical sectors in the Eastern Economic Corridor (EEC). This initiative is designed to support healthcare services for both ageing and young populations while promoting targeted industries. Forecasts from the Thai Health Promotion Foundation indicate a rapid growth trajectory for the medical…
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Potential Australian trade barrier could impact Thai auto exports
The Thai Automotive Industry Association (TAIA) has issued a warning that a prospective trade barrier, set to be imposed on new cars shipped to Australia next year, may impact auto exports. The trade barrier, known as the new vehicle efficiency standard, is a regulation being developed to limit carbon dioxide emissions per kilometre from new cars sold in Australia, according…
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Thai government’s 500 billion baht digital wallet under scrutiny
The funding sources for the government’s flagship 500 billion baht handout scheme, better known as the digital wallet, will undergo careful consideration, ensuring that public debt remains manageable, a senior government official stated today. This scheme is a crucial campaign pledge of the ruling Pheu Thai Party, intending to distribute 10,000 baht to 50 million Thai citizens to stimulate local…
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Bangkok and JETRO Review 2023 economic trends of Japanese ventures in Thailand
Bangkok discusses JETRO presenting the results of a survey of economic trends of Japanese joint venture companies in Thailand in the second half of 2023 towards the development of Bangkok as a city of economy and hope. Sanon Wangsrangboon, Deputy Governor of Bangkok welcomed Jun Kuroda, Chairman of Japan External Trade Organization, Bangkok: JETRO Bangkok to present the results of…
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Government’s debt hike prompts caution from agencies
Ratings agencies issued cautionary statements following the surprise decision this week by the government to increase its debt in a bid to stimulate the economy. The move, which may compromise the government’s fiscal consolidation efforts, is likely to stimulate short-term growth. The medium-term budget plan was revised by the Cabinet on Tuesday, causing a rise in the deficit next fiscal…
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Gold rush: Bullion prices hit record high, further increase forecast
Bullion prices have hit a new record high of over US$2,300 an ounce with sustained demand from central banks and rising geopolitical conflict. This led local traders to raise their forecasts for both global and domestic prices of gold to US$2,350 and 40,500 baht respectively. The Gold Traders Association (GTA) updated the domestic price by 400 baht per baht-weight before…
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Thai bond defaults to stay below 1% in Q2, predicts ThaiBMA
The Thai Bond Market Association (ThaiBMA) forecasted a low probability of bond defaults in the forthcoming second quarter, with the total default value expected to fall below 1% of the entire outstanding market value. Ariya Tiranaprakit, Executive Vice President of ThaiBMA, revealed that the trend of deferring bond payments gained traction in the aftermath of the pandemic, largely induced by…
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AWC set to scoop jackpot from Thailand’s casino legalisation
Tisco Securities indicated that Asset World Corporation (AWC), a luxury hotel and retail centre operator, stands to gain significantly from the government’s plan to legitimise casinos within entertainment complexes. This move is part of the government’s strategy to attract high-spending tourists and curb revenue losses from illicit gambling. The government is contemplating the establishment of the first entertainment-casino complex in…
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Thai Tourists undeterred by Taiwan earthquakes for Songkran
Despite Taiwan experiencing its most significant earthquake in a quarter of a century and a series of tremors in Japan, Thai tourists are undeterred and continue with their planned holidays during the Songkran period. Charoen Wangananont, President of the Thai Travel Agents Association (TTAA), revealed that the majority of Thai tourists had already secured their tour packages, flight tickets, and…
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Thai condo market dominated by Chinese and Russian investors
Foreign buyers from China and Russia dominated the Thai condominium market in 2023, as per data from the Real Estate Information Center (REIC). The report disclosed a total of 14,449 units, valued at 73.2 billion baht, were purchased by international buyers, marking a 25% increase from 2022. Chinese investors led the way, acquiring 6,614 units, approximately 46% of the total…
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Analysts predict BoT to maintain policy rate despite weak baht
There’s a growing consensus among financial analysts that the Bank of Thailand (BoT) won’t lower its policy rate during its April 10 meeting, despite a weakening baht and economic outlook. This perspective is strongly held by Kasikorn Research Centre (K-Research), according to Kanjana Chockpisansin, the head of research. Kanjana stated that they believe the BoT’s Monetary Policy Committee (MPC) will…
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Southeast Asia sees 130% growth in YouTube Shorts daily views
A significant increase in daily views for YouTube Shorts has been observed in Southeast Asia, with a growth of over 130% in the year ending July 2023, according to Niharika Kapoor, the Asia-Pacific head for Shorts scaled partnerships. This format, which limits videos to a maximum of 60 seconds, has been instrumental in attracting new creators to the global YouTube…
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Fuelling fears: Thai diesel price hike won’t ignite retail inflation
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) stated that a potential increase in domestic diesel prices, which could surpass 30 baht a litre following the termination of the Oil Fuel Fund subsidy scheme on March 31, is unlikely to prompt manufacturers to raise the prices of their goods. Prime Minister Srettha Thavisin revealed on Tuesday, April 2,…
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Thailand explores extending emergency coverage to foreign tourists
The possibility of extending the Universal Coverage for Emergency Patients (UCEP) programme to safeguard foreign tourists is being explored by the Tourism and Sports Ministry and the National Institute for Emergency Medicine. This move comes in the wake of a rising number of injuries among tourists, primarily due to road and water accidents. The proposal to include foreign tourists under…
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NBTC excludes World Cup from ‘must have’ broadcast rule
The National Broadcasting and Telecommunications Commission (NBTC) board yesterday unanimously decided to exclude the World Cup football tournament from its “must have” rule, effective immediately. This rule has been in place since 2012, obliging companies that own the broadcast rights to seven major sporting events to allow free TV channels to air the content. The seven events include the FIFA World…
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Airlines urge Thailand to take flight with airport upgrades
Several international airlines have urged Thailand to enhance its key airport facilities and improve transport links between airports and cities, to meet its ambition of becoming a regional aviation hub. The Thai government has laid out a goal of handling 150 million passengers annually by 2030. Egaluk Ngiwprom, Southeast Asia marketing manager of Spring Airlines, believes this is a challenging…
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