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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Phuket Business: The changing landscape of Phuket’s property sector
PHUKET: Demand on Phuket for condos is skyrocketing, highlighted by strong annual growth figures, which is in contrast with slumping sales of other housing types. A survey conducted by the Research & Development Department of Plus Property Co Ltd found that 2,641 new condominium units were sold on the island from April 1, 2011 through March 31, 2012 – an…
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Phuket Business: Boating industry shows signs of recovery
PHUKET: The yachting sector is showing signs of recovery following a three-year-period of stunted growth and sluggish sales brought on by global economic turmoil, a local industry expert has observed. “Despite what some figures indicate (see ‘Customs: more pleasure floating in’ below), it seems to me that our strongest years in terms of sales were from 2006 to 2008,” says…
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Phuket Business: Vespa dealer to kick-start sales
PHUKET: Drago Andaman Company, Phuket’s first and only authorized Vespa dealership, reported the sale of over 200 brand new scooters in 2011, the firm’s inaugural year of operation. “This year our sales target is 300,” showroom Manager Supamat Thammakoranont told the Gazette. The annual sales goal increase of 50% has already faced some bumps along the road, she admits. “Up…
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Myanmar to lure Mice to Phuket
PHUKET: The emergence of the ASEAN Economic Community (AEC) and the opening-up of neighboring Burma will generate more high-yield visitors for Phuket and Thailand in general, delegates attending a recent tourism industry conference were told. Emerging opportunities, as well as accompanying challenges, were the primary topics of discussion at the first Thailand MICE International Forum (TMIF) held in Bangkok on…
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Phuket Business: When the financial gate slams shut
PHUKET: Since I’m often writing about how I like alternative investment strategies, it may be a good idea to do a few pieces on the features of funds available to managers when they open. This will help you understand what can happen when you invest in such a fund. This week is about gates – since most alternative funds write…
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Phuket Business: CPI rise slows down; Rice stocks pile high
PHUKET: THOUGH the cost of living in Thailand continues to rise, the rate of increase over the past three months has slowed, Consumer Price Index (CPI) figures indicate.Compiled and released by the Ministry of Commerce (MoC), the CPI national average nudged up 0.45 points to 115.23 in last month, a month-on-month increase of 0.39%.Calculated by comparing current average prices of…
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Phuket Business: Trade booming
PHUKET: Two-thirds of the way into the government’s current fiscal year, international trade in Phuket is thriving, with the value of both imports and exports looking likely to surpass last year’s record-high performance. Phuket Customs’ records through to May 31 show that the value of exports in 2012 (October 1, 2011 to September 30, 2012) is now at 11.11bn baht…
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Phuket inks rice deal with Maha Sarakham
PHUKET: Trade representatives from Phuket and Maha Sarakham have entered into bilateral negotiations centered primarily on the supply of scented jasmine rice from the Northeastern Thai province. Marking the start of a promising commercial alliance, the development was highlighted by the signing of a trade memorandum at the Pearl Hotel in Phuket Town on Tuesday. The general terms of the…
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Phuket business: Sports tourism “scores big’; Games to bring in B600mn
PHUKET: Defining and developing ‘Brand Phuket’ as a world class sports tourism destination was top of the agenda at a recent meeting of senior business people here. Organized in collaboration with the Phuket PR Network and the Greater Phuket Chapter of the American Chamber of Commerce (AMCHAM), the meeting was held at the Thanyapura Sports and Leisure Club (TSLC) on…
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Phuket business: Smart phone sales soar in Q1
PHUKET: Thailand’s rapidly expanding smartphone market recorded nearly 70% growth in the first quarter of this year, according to GfK research group’s retail audit findings, which compare quarter on quarter revenue performances. Heightened consumer demand has brought about a surge in sales volume of over 80%, reaching 758,000 smartphones sold in the first three months of 2012 (Q1). Consumers in…
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Phuket business: Greece primed to exit the Euro
PHUKET: It is fair to say that recently the world’s markets have been as unstable as a new born baby trying to stand on its own two feet! With the financial woes of the European markets, the rest of the world has been dragged down by a seemingly constant torrent of poor European economic news. We have a new French…
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Phuket business: Door slams shut on Guernsey
PHUKET: In a move that shocked the entire UK pension transfers industry, British tax authorities have halted future transfers to Guernsey. Apparently this action has been taken as an insult. Indeed, the providers in Guernsey have been held to a different standard than other jurisdictions such as the Isle of Man, Gibraltar, or Malta. The good news is, that safe,…
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Phuket business: Google bridges the gap
PHUKET: Amid the fast paced “age of online” a bulk of local businesses have fallen behind a rapidly evolving consumer base, and companies need to catch up, says Ariya Banomyong, head of Google Thailand The country’s first manager for the iconic IT giant was in Phuket last week and the Gazette had the privilege to pick his brain for an…
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Bangkok Hospital Phuket celebrates 17 years
PHUKET: Bangkok Hospital Phuket today launched a two-week health fair to mark the facility’s 17th anniversary. During the fair, which runs until June 3, the hospital is offering special discounts on a range of patient services, including checkups and cancer checks, said Hospital Director Dr Narongrit Havarungsi. “We are also offering special prices on physio-therapy equipment and other recovery items,…
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New Etihad Phuket airlink opens gateway to Europe
PHUKET: The new weekly direct flights between Phuket and Abu Dhabi, and on to Germany, launched last month by United Arab Emirates (UAE) national carrier Etihad Airways have transformed the UAE into a portal for European tourists traveling to and from Phuket and the rest of Asia. The new service was launched on April 15 after Etihad inked a cooperation…
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Phuket business: What does the UK budget mean for British expats?
It’s that time again when George Osborne tries to tighten the purse strings for the UK economy and cut down the huge debt levels the youth of today have inherited from poor decision making and fiscal policies of the past. Inconsequential it may well be to certain socio-economic brackets with Mr Osborne’s large outstretched arm unable to ruffle their financial…
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Phuket Business: Transit proposals keep coming
PHUKET: Two more parties have engaged the Phuket provincial government about the prospect of developing the island’s multi-billion baht light rail and tunnel mega projects. A multinational delegation from the Chinese construction giant China Gezhouba Group Corporation (CGGC) visited with Phuket Governor Tri Augkaradacha recently. “We are the biggest company in China and the 80th largest company of the top…
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Phuket Business: ThaiVisa penetrates neighboring markets
PHUKET: ThaiVisa.com, the leading English-language social networking website about Thailand, is expanding its operations to Myanmar and Cambodia.“We have carefully studied internet traffic trends and we see a sharp rise in search traffic and interest about our neighbor Myanmar,” said Barry Main, marketing director of Bangkok-based ThaiVisa Expat Group Co Ltd.“We believe it’s pretty easy for us to get a…
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Community Enterprise Phuket street market under way
PHUKET: A three-day street market featuring items produced under the Ministry of Agriculture’s “Small and Micro Community Enterprise” (SMCE) program will taking place in Phuket Town started at 2:30pm today. Kanda Pantong of the Department of Agricultural Extension, Phuket Office (DOAE-Phuket) in Phuket Town told the Phuket Gazette yesterday that the street market would start with an address by Phuket…
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Phuket’s Courtyard by Marriott in Kamala to reopen as Swissotel
PHUKET: Global chain Swissotel will reportedly take over management of the former Courtyard Marriott Kamala Beach effective April 1, reports Phuket Gazette Property Watch columnist Bill Barnett. The 180-key, all-suite hotel, which is owned by Destination Properties, is part of a Phuket portfolio that includes former Courtyards in Surin Beach and Patong. The news follows Marriott and Destination Properties announcing…
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Phuket Business: Learning from the master investor
PHUKET: Warren Buffet, CEO of Berkshire Hathaway, is arguably the greatest investor of our time. Most of us can never hope to achieve the kind of success he has had, but we would all probably do well to follow some of his very common-sense advice. I have gathered a few quotes attributed to him for this week’s article. They’re pretty…
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Phuket fractional ownership ventures into new waters
PHUKET: Among the many luxury yachts to go on display at the 2012 Phuket International Boat Show (PIMEX) at Royal Phuket Marina. on Thursday will be the event’s first fractional ownership boat for sale. Shared ownership pioneer Absolute Fractionals will showcase the Elan42 luxury motor yacht. A product of one of Europe’s largest and long established shipbuilders, the yacht features…
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Suzuki Swift on a roll in Phuket
PHUKET: The Suzuki car dealership in Phuket Town is reporting brisk sales of the “all new” Suzuki Swift eco-car and expects to sell 200 units by the end of the month from its recently renovated showroom in Phuket Town. The showroom, on Surin Road near the Shell service station, is well-known to scores of Suzuki SJ413 “Caribian” drivers on the…
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Phuket’s Kata Group opens ‘Beyond Resort’ in Khao Lak
PHUKET: The Kata Group, one of Phuket’s best-known resort chains, celebrated the latest addition to its portfolio of luxury resorts on Friday.Located in Phuket’s neighboring province of Phang Nga, the new property in Khao Lak, branded as the ‘Beyond Resort Khao Lak’, is the group’s first foray out of Phuket since the opening of its Kandaburi Resort and Spa on…
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Phuket Business: The European tourist market is dormant, but not done
PHUKET: Local officials and tourism industry representatives are optimistic about the revival of the European tourist market in the near future, following the recent success of a Phuket tourism promotion roadshow in Germany. The Internationale Tourismus – Borse 2012 (ITB 2012), one of the largest tourism trade shows in the world, was held in Berlin, Germany. Representing Phuket at the…
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Phuket Business: Batik operations seek integration
PHUKET: The Phuket Provincial Industry Office (PPIO) recently led a seminar to reinforce the continued development and integration of the island’s high-potential Batik fabric industry. The industrial promotion event marked the beginning of the second consecutive year of efforts to develop local production, reinforcing momentum from the forming last year of the Phuket Batik Cluster. That initiative was marked by…
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Phuket Business: Income tax filing: Part II
PHUKET: For anyone who generated income in Phuket or elsewhere in Thailand last year, regardless of where or how they were paid, the personal income tax filing deadline is March 31. However, since the last day of this month falls on a Saturday, the last opportunity to file on time will be Friday, March 30. In the first of two-article…
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Princess Yachts say ‘thank you’ in style
PHUKET: Princess Yachts Thailand held a lavish ‘thank you party’ at Phuket Boat Lagoon on Thursday evening in conjunction with the launch of the Princess Yachts South East Asia network. The annual Princess Rendezvous started on the evening of March 22 before their cruise to Phang Nga Bay and Hong Island in Krabi on March 23. Hundreds of guests attended…
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Laguna Phuket MD resigns
PHUKET: Michael Ayling has resigned his position as Managing Director of Laguna Resorts & Hotels, which owns and operates the Laguna Phuket resort complex on Phuket’s west coast. A media statement issued this morning noted that Mr Ayling’s last day with the renowned resort company will be on May 31, 2012. According to the statement he will be leaving the…
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Phuket Business: A mortgage in the UK
PHUKET: House prices in the UK have suffered a dramatic fall over the past few years and banks have made it harder for first-time buyers. To put it bluntly, banks have made it harder for any buyer getting on the housing ladder when prices are low. Although UK house prices are expected to make a steady recovery over the next…
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