Business News
Stay abreast of the ever-changing Business News in Thailand through our comprehensive coverage of local and international business events, market trends, and economic updates. We provide reliable analysis, in-depth features, and expert insights on the most relevant business stories, including issues affecting Thailand’s stock market, foreign investment, and entrepreneurship. Track the business world’s pulse as we inform you of crucial developments shaping Thailand’s economic landscape.
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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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B26mn bid for lucky plates
PHUKET: A little more than 26 million baht (26,013,000) was earned at the 8th annual “Lucky License Plate Action” held recently at the Phuket Merlin Hotel in Phuket Town. This was five million baht short of the initial expectation of 31 million baht, and four million baht less than last year’s auction which raised 30 million baht. This year, a…
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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 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: Replicating your life savings
PHUKET: The new hot sector for technology investors is in the rapidly growing 3D printer business. 3D printing is the process of making a three-dimensional solid object of virtually any shape from a digital model. 3D printers use a 3D CAD (Computer Aided Design) file to create objects using a sequential layering process. This technology is used in jewelry; footwear;…
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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 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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Singaporean investor sniffs out tuna ops in Phuket
PHUKET: An investor from Singapore has expressed interest in expanding Phuket’s Tuna industry through the establishment of a new commercial longline fishing partnership with local operators. Phuket Governor Maitri Inthusut, along with Vice Governor Somkiet Sangkaosut-tirak, last week welcomed the Singapore-based businessman, Yong Juang, who came to the island to discuss investment guidelines, regulations and laws. Mr Yong Juang is…
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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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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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The rise of technical goods
PHUKET: The Technical Consumer Goods (TCG) market in Thailand last year saw positive annual growth in six out of seven sectors tracked by a recent regional market survey. The strong growth of TCG, which includes everything from smart phones, cameras, washing machines and cooking appliances, to TVs, tablets, air coolers and office equipment, was highlighted in a recent survey and…
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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 Business: Budgeting tips and concerns for expats
PHUKET: Becoming and remaining an expat in Phuket, Thailand will require careful budgeting to avoid potential minefields or serious financial problems down the road. With that in mind, here are concerns or tips to keep in mind to help you avoid blowing a hole in your expat budget: Track your living expenses Most personal finance software like newer versions of…
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Phuket Finance: Buy Priceline and book your visa run
PHUKET: Just the other day I had a client ask me how he can save some money on his next visa run. He wants to explore more of Southeast Asia and has gotten tired of making the usual trip to Cambodia, Laos or Kuala Lumpur. That’s when I told him about Priceline.com. Priceline (PCLN) is the famous “Name Your Price”…
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Phuket Business: Job fair expected to fill 30% of vacancies
PHUKET: Of the 6,000 job vacancies offered through the “e-jobs@Phuket 2013” job fair held recently at Phuket Rajbhat University, only 118 positions were immediately filled, the Phuket Gazette has learned. Phuket Provincial Employment Office chief Yawapa Pibulpol said that a total of 1,578 job applications were submitted. Of these, she said 548 were submitted at the fair itself, while the…
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Phuket Business: B28bn worth of 20-baht notes to get exchanged
PHUKET: As part of the Bank of Thailand’s (BoT) policy to make its banknotes more modern and user friendly, 4 billion baht worth of new series-16 20-baht banknotes are being put into circulation. Until now, the Kingdom’s lowest-value, yet most widely used banknotes have not been fraud-proof in synchronizing with electronic finance machines. “The new design incorporates a range of…
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April festivities to generate millions for Phuket
PHUKET: The Tourism Authority of Thailand (TAT) Phuket office expects upcoming festivities this month to generate between 600 and 700 million baht for the local economy. TAT Southern Region 4 Office director Chanchai Doungjit talked about the current tourist situation ahead of the upcoming two-week festive period. He announced that the holiday period officially starts tomorrow, with Chakri Memorial Day,…
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UK’s residency law changes may affect Phuket’s expats
PHUKET: With the Finance Act 2013, the UK is making changes to the statutory residency laws, which may affect some expats living in Phuket. It is well worth taking the time to review the changes if you are one of those who have just left the UK or who, and although you reside in Phuket, you maintain significant ties to…
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How Phuket expats can cut their investment costs
PHUKET: If you are like many expatriates in Phuket, or indeed across Thailand, you have probably failed to realize the impact trading or investment fees can have on your portfolio’s return, as such costs are often hidden and can quickly add up over time. In a rising market, these costs may not be so noticeable; but in a stagnant or…
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Phuket Gazette Business: US tax regime to scrutinize taxpayer bank accounts
PHUKET: In light of the ‘federal fiscal fiasco’ in Washington DC – to the tune of nearly 17 trillion dollars – the American government is looking to expand its worldwide tax base. As such, US citizens and green card holders conducting, contracting or controlling business operations in or from countries outside the US, including Thailand, need to ensure consistency and…
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Phuket Business: Formaldehyde free for the AEC
PHUKET: The Deputy Minister of Public Health declared the Baan Saan fresh market in Phuket Town as formaldehyde free, following an inspection tour of the market earlier this week. The Baan Saan market, also known as the Phuket City municipality public fresh market number 1, is located on Ranong Road, near the local bus (sawng taeo) boarding area in Phuket…
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Honda’s BigWing takes off in Phuket
PHUKET: Honda’s BigWing dealership announced its arrival in Phuket yesterday with drum rolls and engines roaring, as the island’s biking community were eager to get their hands on the latest offerings from the Japanese giant. Following their successes in Chiang Mai, Pattaya, Udon Thani and Bangkok, the island was the natural choice for the brand’s expansion into Southern Thailand. Honda…
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CB500x gets new Phuket wings
PHUKET: Bike lovers are anticipating the new Honda BigWing motorbike dealership and showroom, set to open its doors in Phuket on Thursday (March 28). A Honda sales representative told the Phuket Gazette that the dealership has already received many inquiries and reservations. “Since the beginning of the year CB500X has been the talk of the town not only amongst the…
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Phuket Business: You can run, but you can’t hide
PHUKET: In light of the ongoing ‘federal fiscal fiasco’ in Washington DC, the US tax regime is looking to grow its global revenue pool, with American expats residing in places like Phuket high on the list to be scrutinized. Recently a group of American taxpayers gathered in Phuket for an informative yet dreaded update seminar about the latest income reporting…
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Phuket Business: Tax filing deadline nears
PHUKET: With the peak of the Thai hot season fast approaching, the Personal Income Tax (PIT) filing deadline is also nigh. Usually, the deadline is March 31, but since the last day of March this year falls on a Sunday, income earners in the Kingdom have been given until Monday, April 1 to file their paper returns, or until Tuesday,…
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Phuket’s scrap yards cleaning up
PHUKET: As part of a campaign to raise awareness about pollution, and thus reduce it, the Phuket Environmental Office is conducting appraisals of the island’s antique shops, warehouses and old household item scrap yards. So far, a total of 39 businesses on Phuket have been targeted by the government campaign, which looks to certify related operators as a “Green Antique…
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