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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PIMEX 2014 organizer hyped about January date
PHUKET: The next Phuket International Boat Show (PIMEX) is open for business, having been taking bookings since early last month, May 2013. PIMEX 2014 is confirmed to take place between January 9 and 12 at Royal Phuket Marina and remains a permanent fixture in the island’s event calendar as it approaches its 11th year. “After careful analysis of the last…
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PHUKET FINANCE: Don’t let a ‘wall of worry’ cut you off from a bull market
PHUKET: Although the economic numbers coming out of the United States are not exactly impressive, the S&P 500 has been hitting all time highs and at the end of April, was up some 14.5% since the start of the year, while gold, the ultimate investment of market contrarians, plunged the most in 33 years. In other words, the US stock…
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Phuket International Boat Show 2014 sponsorship opportunities
PHUKET: A number of commercial sponsorship and partnership packages are now available for the next Phuket International Boat Show (PIMEX), which will celebrate its eleventh anniversary next January. Sponsorship experts, Paul Poole (South East Asia) Co Ltd, will represent PIMEX 2014 in its drive to attract new sponsors and partners, offering several package tiers (click here for site). Andy Dowden…
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SPECIAL REPORT: Recycling 101 – reducing a piling burden
PHUKET: By some estimates, as much as 20 per cent of the island’s rubbish gets recycled. But this number could be higher if more consumers were made aware of a few things.The island is home to dozens of small and medium scale scrap yard operations and recycling depots that make a living, if not a decent business, by buying back…
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Phuket Finance: Educational arbitrage
PHUKET: I think everyone would agree that a big part of long term financial planning is saving for their children’s university fees, which continue to reach more and more astronomical heights. However, very few people realize there are many ways to greatly reduce these costs without reducing your child’s value on the job market. Arbitrage usually refers to buying a…
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COMMON CENTS: AEC will bring opportunities, threats to Thai, ASEAN citizens
PHUKET: THE ASEAN Economic Community (AEC) to be established in 2015 creates a huge potential for the streamlined flow of labor, goods and services, and investment capital. However, along with this opportunity there are also potential threats which Thailand has to be aware of and address. It is my concern that Thailand is not doing enough to prepare and confront…
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Phuket Finance: Golden rules for investing
PHUKET: Being a successful investor over the long-term is not going to be easy, but if you have been a bad investor in the past, who has lost money investing, chances are it is because you didn’t follow these simple, yet essential rules.Educate yourself about investing Walk into any bookstore and you will likely see several shelves of books covering…
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Navy shore-leave to inject 1 million dollars into economy
PHUKET: The island’s economy – especially at the party town of Patong – will be getting an early low-season boost thanks to this week’s visit by the American Navy supercarrier, USS Nimitz along with its armed missile-cruiser escort, the USS Princeton, which both moored off Phuket early this morning. Topping off a week-long journey through the South China Sea, and…
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Bangkok Hospital Phuket to invest B600mn in facility
PHUKET: Bangkok Hospital Phuket (BHP) has announced that it will invest 600 million baht to open a new hospital on the island by early next year. The site of the as yet unnamed hospital will be on Chao Fah West Road, just opposite the Chao Fa Villa Phuket housing development in Mueang district. Director of Bangkok Hospital Phuket Dr Narongrit…
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Phuket Finance: Currency crisis warning signs
PHUKET: THE strength of the Thai Baht is a major topic of conversation these days, especially since so many Phuket residents are living on a fixed income, denominated and paid in a foreign currency from abroad. We have all been feeling the same pain as the combination of the strong baht and domestic inflation has led to our hard-earned money…
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Cashing in on Thai and Russian relations
PHUKET: Phisak Nivataphand, the president of the Thai-Russian Chamber of Commerce and advisor for the Russian Studies Center of Chulalongkorn University, was recently in Phuket to give a speech to promote Thai-Russian business relations. Organized by Thai-Russian media firm Expert Media Co Ltd, the seminar was held on May 10 at the Royal Phuket Marina. Mr Phisak opened his speech…
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Phuket Finance: Gold plunges to 33 year low
PHUKET: The past month has not been kind to anyone who has bought gold recently. With a nearly 9% loss since its January peak, and nearly 14% from last September’s, the precious metal has been anything but. Last week it had its largest one-day percentage decline since February 28, 1983. For the past 20 months, the price of gold has…
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Phuket firm to co-develop superyacht facility in Bangkok
PHUKET: Island based, Yacht Solutions (YS) has signed a memorandum of understanding with Bangkok’s Italthai Marine (ITM), agreeing to create Thailand’s first dedicated superyacht facility just south of Bangkok. This joint venture brings together Thailand’s largest and most established shipbuilding company, ITM, with one of Thailand’s most reputable and experienced superyacht refit companies, YS. Dubbed ‘Yacht Solutions at Italthai Marine’,…
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Phuket Finance: Dumping your UK domicile
PHUKET: Many British expats are unaware that as long as they remain UK domiciled, their estates will be subject to inheritance tax. Even if you have been living outside of the country for 40 years, it doesn’t mean you automatically have lost your UK domicile. In fact it is a little tricky to shed and this means your estate could…
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Capturing Phuket through Google Glass
PHUKET: By the time the Christmas holidays roll around this year, I’ll have one of the first sets of Google Glass in Thailand. Imagine being able to walk our beautiful beaches here in Phuket and capture the sights, sounds and experiences hands-free. That’s what Google Glass will allow me to do and most people here won’t even realize that my…
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A glass of wheatgrass if you please
PHUKET: Vitality, curative, nutrient-rich, detoxifying, energy – these are some of the most common connotations associated with the plant, Triticum aestivum, more commonly known as ‘wheatgrass’. Another increasingly common association is cancer prevention. “That’s what I like about it. Maybe it’s to do with my age,” says 68 year-old Frank Gunn, an American expat who has lived in Phuket for…
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Phuket Italian restaurants make the grade
PHUKET: The Thai-Italian chamber of commerce brought their Ospitalita Italiana project to Phuket recently, awarding five Italian restaurants the ‘Q’ certificate of authenticity. The ‘Q’ for ‘quality’ award judges the restaurants genuinely Italian if they meet 10 criteria concerning the training of their chefs and their use of genuine recipes and Italian products, such as wine and olive oil. Not…
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Phuket to adopt new “4 Ms’ plan to boost tourism
PHUKET: The Thailand Convention and Exhibition Bureau (TCEB) has revived its efforts and moved its attention once again to help promote Phuket as a regional hub for corporate and organizational tourism. A new four-year destination promotion strategy was presented to local, regional and national officials at a seminar on April 26 at the Metropole Hotel in Phuket Town. Entitled “Developing…
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Phuket Business: Small appliances see big growth in SE Asia
PHUKET: The Small Domestic Appliances (SDA) markets in Singapore, Malaysia, Indonesia, Vietnam and Thailand grew by nearly 6% in value over a recent 12-month period, when compared to the same period the previous year. SDA sales in the five markets, tracked from February 2012 to March 2013, had a combined value of more than US$804 million. The survey by GfK,…
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Phuket Investor: The last time the markets were here
PHUKET: I recently read a report that had a comparative list of statistics from the last time the stock markets were up at these levels, which was just before the crash at the start of the financial crisis. Early this march, the DOW reached a previous high level of 14164.5 and then surpassed that level. I thought it might be…
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Phuket Business: Head of airport expects arrivals to exceed 10.5mn
PHUKET: The director of Phuket International Airport (HKT) expects passenger arrivals to exceed 10.5 million by the end of this year, with related profits expected to be no less than two billion baht. HKT director Prathuang Sorn-kham said that the airport is fully prepared to provide increased conveniences for passengers ahead of the its 5 billion baht expansion project, due…
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Phuket Business: US tax regime – Comply or else…
PHUKET: At a US tax seminar held last month at the Holiday Inn, Patong, by the American Chamber of Commerce (AMCHAM) Phuket Chapter, American income earners and business operators were given a comprehensive update about the US tax regime’s reporting requirements and regulations. Two previous articles about the seminar – published in the Business section of the Phuket Gazette on…
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Phuket MICE city promotion strategy revived
PHUKET: The Thailand Convention and Exhibition Bureau (TCEB) has revived its efforts and moved its attention to once again help promote Phuket as a regional hub for corporate and organizational tourism. A new four-year strategy was presented to local, regional and national officials at a seminar on April 26 at the Metropole Hotel in Phuket Town. Entitled “Developing Phuket as…
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Phuket’s Autoexpress remains in driving seat
PHUKET: Demand on the island for imported luxury cars does not look like it will subside any time soon. Saksri Kerdphol, GM of Autoexpress, Phuket’s premier foreign automobile dealership and service provider, gives a brief update about local market trends. This is followed by some customer testimonials. Phuket Gazette: What is the current state of the auto luxury import market…
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Phuket Business: Ideas bounced around at rubber meeting
PHUKET: A three-day rubber industry convention and study-tour event wrapped up in Thalang recently. The meeting/event, dubbed “ASEAN Rubber Day 2013”, brought together industry experts, operators and researchers from Thailand, Malaysia an Indonesia. Organized by the Ministry of Agriculture and Cooperatives, the meeting was part of a private-public collaborative effort to create greater investment opportunities for the rubber industry, as…
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Phuket Business: The not-so-hidden cost of inflation
PHUKET: If you are an expatriate living in Thailand or considering relocating here, high inflation might be a distant memory from as far back as the late 1970s. However, Thailand has much higher rates of inflation than is seen in most developed countries, and you will need to consider that when you invest and prepare a budget for your Thai…
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Laguna Phuket to host record-breaking Nu Skin incentives meeting
PHUKET: Laguna Phuket is playing a major role in a record-breaking annual incentive program being staged over six days, from Sunday April 21, for 4,000 delegates and staff of anti-aging products company NU SKIN Greater China. The delegation is expected to generate a business boom for Phuket and Thailand.NU SKIN delegates from seven cities in mainland China, as well as…
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Phuket Finance: Note the contrarian investor
PHUKET: Contrarian investors are those who generally do the opposite of what the majority do. There are many forms, but basically they can all be summed up by the old Wall Street adage, “Buy Low, Sell High.” As simple and as logical as this advice sounds, in practice the majority of investors in fact do the opposite. The lonely contrarians…
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Tesco shopping online
PHUKET: Leading domestic hypermarket chain Tesco Lotus last week launched online grocery shopping and home delivery services for its customers in Bangkok. Asked if the retail giant had plans to launch such services in Phuket, Ms Salinla Seehaphan, Corporate Affairs Director, revealed that: “Our plan is to offer a convenient online grocery shopping service to all of our customers in…
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Phuket gets first Evolution Cinema Planetarium in Thailand
PHUKET: Island residents and tourists alike earlier this week welcomed the opening of the Evolution Cinema Planetarium, a new ‘edutainment’ attraction in Phuket Town. Located in front of Central Festival Phuket’s main entrance, the new mobile cinema planetarium is the first of its kind in Thailand. “The Evolution Planetarium is the newest generation of visualization systems for entertainment and studying,…
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