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 banks see 0.71% loan growth as SMEs and households struggle
Thailand’s top six banks reported a meagre loan growth of 0.71% in the first three quarters of 2023, as compared to the same period in 2022. This slowdown is primarily due to reduced loan uptake by small and medium-sized businesses (SMEs) and an increase in household debt. The six banks—Bangkok Bank (BBL), Kasikornbank (KBank), Krungthai Bank (KTB), Siam Commercial Bank…
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BGRIM’s solar sonata: Renewable energy giant strikes the right chord in Italy
BGRIM, a leading player in the renewable energy sector, has launched a new project for a solar power plant in Italy. The Ortanova project involves the development of an 80.9-megawatt ground solar energy system, complete with a tracking system. This initiative is in response to the growing global demand for clean energy. The undertaking is steered by RES Co Sicilia…
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Thailand’s business travel bounce-back: TCEB predicts 2024 revival, 2019 return by 2025-26
The Thailand Convention and Exhibition Bureau (TCEB) forecasts a business travel sector revival by 2024, with 23.2 million travellers expected. However, it predicts a business travel return to the pre-pandemic levels of 2019 only by 2025 or 2026 due to global economic unpredictability. TCEB’s president, Chiruit Isarangkun Na Ayuthaya, revealed that their business travel revival strategy will focus on stimulating…
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Thailand’s export hopes bloom in Q4, aiming to paint a brighter 2023 picture
The Ministry of Commerce in Thailand anticipates an uptick in the country’s exports for the last quarter of the year, potentially mitigating the projected contraction for 2023. This encouraging forecast is attributed to several factors, including a partnership between the government and private sector to boost export activities and address associated challenges, drought-induced spikes in agricultural and food product imports,…
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SET forecasted to dip amid US bond yield uncertainty
The Stock Exchange of Thailand (SET) index, which dipped below 1,400 points last Friday, is anticipated to continue its downward trajectory this week, potentially hitting 1,330 to 1,350 points, as per market analysts’ predictions. Factors contributing to this trend include fluctuating US bond yields and uncertainties in global factors. Wikij Tirawannarat, a senior executive at Bualuang Securities, pointed out that…
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Thai Cabinet fuels up for savings: Gasohol 91 prices set to drop
The Thai Cabinet today gave initial approval for a 2.5 baht per litre reduction in the price of gasohol 91 for three months, likely to start from October 31, as stated by the Thailand Energy Minister. Thailand Energy Minister Pirapan Salirathavibhaga confirmed that this price cut would be facilitated by a 2.5 baht per litre reduction in excise tax, a method…
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Asia’s crypto craze: Bitcoin’s impressive ascent fuels ETF hopes
The cryptocurrency market witnessed a notable surge in Asia, with Bitcoin reaching a near 18-month high. The climb in value today, October 24, by over 6% to US$35,198, is the highest recorded since May 2022 and is the result of speculation around the potential launch of a Bitcoin exchange-traded fund (ETF). Monday, October 23, saw Bitcoin’s best session in almost…
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Stock market fraud: SEC intensifies efforts to restore investor trust
The Securities and Exchange Commission (SEC) is set to fortify its efforts in battling stock market fraud and intensifying its monitoring of publicly traded firms, in a bid to re-establish investor trust. The Commission acknowledged the proliferation of fraud incidents has led to a considerable erosion of confidence among stock investors. Regular offences include insider trading and stock price manipulation.…
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High demand for SAF production expected by Bangchak in 2025
Bangchak Corporation, a leading energy conglomerate listed on the Stock Exchange of Thailand (SET), anticipates a significant demand for Sustainable Aviation Fuel (SAF) production once it enters the market next year. The prediction comes as awareness about the environmental impact of traditional jet fuel increases among companies. Chaiwat Kovavisarach, Bangchak’s Group Chief Executive, revealed they had received a very warm welcome…
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Thai therapists popularity in the Middle East bolsters remittances amid conflict
Overseas Thai workers are in the limelight as the conflict in Israel escalates in the region. Over 7,000 Thai individuals are awaiting evacuation, with instances of Thais being kidnapped by militants. Records from the Bank of Thailand reveal that the remittance from these overseas workers in the first three quarters of the current year was around 184 billion baht. Israel and…
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Impending drought poses significant threat to Thai export sector
The Thai economy braces for another challenge as impending drought threatens its critical export sector, following last month’s extensive flooding. Despite an improvement in exports in August, marking a recovery from an 11 month decline, the impending drought could significantly impact food manufacturing and shipments. The Federation of Thai Industries (FTI) highlighted concerns over the potential repercussions of water shortages…
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Thailand seeks free trade agreement with Gulf nations to boost investment
Thailand’s government spokesperson, Chai Wacharonke, declared the country’s intention to establish a free trade agreement with the Gulf Cooperation Council (GCC) member nations, aiming to enhance trade and investment relations. Prime Minister Srettha Thavisin recently concluded his visit to Saudi Arabia, where he participated in the ASEAN-GCC Riyadh Summit at the Ritz-Carlton. During the visit, the 61 year old prime…
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Thailand set to become ASEAN’s gaming hub, says Thailand Game Show organisers
With its burgeoning gaming sector, Thailand is poised to become the gaming hub of the ASEAN region, according to organisers at the Thailand Game Show 2023. The nation’s gaming industry, valued at 30 billion baht, is leading in Southeast Asia and ranks 20th globally. In addition to boasting impressive user numbers and hosting gaming competitions, Thailand is also nurturing game…
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Business collaboration: Thailand and Japan’s Wakayama join forces in furniture and agriculture sectors
Thailand is geared towards fostering new partnerships with Japan’s Wakayama prefecture, with a particular emphasis on the co-development of the furniture and agricultural processing sectors. The main objectives of this business collaboration include enhancing product development and expanding export possibilities. Commerce Minister Phumtham Wechayachai, following a discussion with Wakayama’s governor, Kishimoto Shuhei, yesterday, stated that he urged the prefecture to…
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Thailand’s future so bright, it’s gotta rock Ray-Bans
The future’s looking so bright for Thailand that it’s gotta wear shades, and not just any old shades, preferably Ray–Ban sunglasses. Fortunately, for residents in the Land of Smiles, EssilorLuxottica, the renowned creator of Ray-Ban sunglasses, has recently inaugurated a state-of-the-art factory in eastern Thailand, poised to serve as a prominent production centre for the Asia-Pacific region. Located in Rayong…
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Sky skirmish looms: Low-cost airlines face turbulence from price-dumping giants
The survival of emerging low-cost carriers in Southeast Asia could be threatened as dominant airlines may resort to price-dumping strategies to safeguard their market share. The airline industry’s seat recovery is also projected to take a decade to fully bounce back. Really Cool Airlines’ Chief Executive, Patee Sarasin, previously the chief executive of Nok Air, expects to obtain the Air…
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Thailand’s SET considers extending trading hours to boost volume
The Stock Exchange of Thailand (SET) is mulling over an extension of trading hours hoping to rekindle its diminished trading volume and value this year. Despite six years of study, no decision had been previously made on the matter. However, Prime Minister Srettha Thavisin recently directed SET to thoroughly analyse the pros and cons of such a move. A preliminary…
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MAS to review Credit Suisse amid Singapore money laundering scandal
The Monetary Authority of Singapore (MAS) announced its intention to conduct an on-site review of Credit Suisse Group AG. The decision comes in the wake of a far-reaching financial scandal, in which at least one customer of the bank has been charged with money laundering. The review aims to assess the bank’s handling and monitoring of wealthy clients. The local…
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Sunny-side up: Thai exports set to crack 3.6% growth in 2023
Positive prospects are forecasted for Thai exports next year, with an anticipated growth rate of 3.6%. This rebound follows a projected 2% drop this year, according to a recent report by the University of the Thai Chamber of Commerce (UTCC). UTCC’s president, Thanavath Phonvichai, attributes this optimistic projection to several factors including lower interest rates and easing inflation globally, which…
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Gulf Energy eyes 50% revenue surge with power plant operations boost
Gulf Energy Development, a Stock Exchange of Thailand (SET)-listed firm, is looking forward to a 50% revenue surge, breaking past the 100 billion baht (US$3.03 billion) mark this year. This significant increase is due to the addition of electricity generation capacity and the full operation of its power plants. In the previous year, the company’s earnings stood at 95 billion…
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Thai stock exchange rises 1.5% but investors remain cautious
The Stock Exchange of Thailand (SET) experienced a 1.5% rise on October 11, attracting foreign investors who bought almost 3 billion baht (US$82,648,050) in stocks. Despite this, seasoned investor 50 year old Watchara Kaewsawang, exhibited caution about re-entering the market, citing the recent increase as a short-lived technical rebound following a series of downturns. Watchara acknowledged that his trading activity…
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Real estate giant Siam Piwat secures global partnerships to boost retail reputation
The Siam Piwat Group, a leading real estate and retail developer in Thailand, secured partnerships with seven global retail giants, boosting its reputation as a popular global destination. The group, which owns and operates several prominent shopping centres, including Siam Paragon, Siam Center, Siam Discovery, ICONSIAM, and Siam Premium Outlets Bangkok, has also been in talks with Hyundai Department Store…
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Revved up worries: Middle East turmoil puts Thai car exports in the hot seat
The Federation of Thai Industries’ Automotive Industry Club warned that the ongoing Middle East conflict could potentially disrupt car exports to the region. Particularly, the popular pickup exports could see a downturn if the dispute remains unresolved. Given the current stagnation in domestic sales, the Thai auto industry relies significantly on its exports. Surapong Paisitpatanapong, the vice-chairman of the Federation…
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Chinese corporations eye investment in Thai green economy
Chinese corporations have expressed their intent to invest in Thailand’s green economy and development projects, renewable energy, electric vehicles (EVs), and transportation infrastructure, according to Prime Minister Srettha Thavisin. The Chinese investment announcement came after discussions between PM Srettha and Chinese business executives at the 3rd Belt and Road Forum for International Cooperation (BRF) in Beijing. The 61 year old…
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Thai businesses on track to navigate energy price cuts: TDRI concerns loom
Thai businesses are assessing the implications of the government’s recent energy price cuts, amidst concerns from the Thailand Development Research Institute (TDRI) about the potential adverse long-term effects of the policy. The Srettha Thavisin-led government has decided to slash the power tariff from 4.45 baht per kilowatt-hour to 3.99 baht between September and December and cap the retail price of…
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Chinese investment in Thailand gains speed amidst economic slowdown
Chinese firms have significantly increased their investment in Thailand this year, despite China’s economic slowdown, providing a much-needed boost for the Thai Prime Minister, Srettha Thavisin. The increase in investment comes as a welcome relief amid concerns about the impacts of the world’s second-largest economy’s sluggish recovery on global growth. However, Thailand continues to appeal as a crucial investment hub…
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Thai court halts government’s wind power purchase scheme over selection irregularities
The Central Administrative Court‘s ruling to halt the government’s scheme to purchase 1,500 megawatts of wind power, on grounds of alleged irregularities in power plant selection, prompted the Energy Regulatory Commission (ERC) to gear up for an appeal. The judgement came in response to Khon Kaen Wind 2 Co, a subsidiary of the SET-listed Energy Absolute (EA), who had voiced…
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Thong Fah outlets to join online food delivery platforms for cheaper fare
Future talks are in the works between the Internal Trade Department and multiple food delivery platform operators such as Thong Fah food outlets. The goal is to integrate Thong Fah (Blue Flag) outlets into their online systems. These outlets sell food at low prices, potentially helping customers save on daily food costs. Wattanasak Sur-iam, the Internal Trade Department’s director-general, revealed…
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Thai visa extension for Russians sparks mixed industry reactions
The Thai Cabinet’s decision to extend the stay period for Russian tourists under the visa extension to 90 days, from the previous 30 days, has sparked mixed reactions. While some tourism operators fear an increase in illegal work activity, others in the south see potential for a boost in spending. The new policy, announced on Monday, aims to stimulate the…
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Thai gold prices dip: Gold Traders Association confirms morning fall
The Gold Traders Association (GTA) announced a decline in gold prices on this morning, with standard gold selling for 33,400 baht per baht weight, reflecting a decrease of 100 baht compared to the closing price last Friday. The latest value of gold bars in Thailand today, October 16, is 32,800 baht per baht weight for buying and 32,900 baht for…
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