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 Pre-existing conditions? These expat insurance plans still have you covered
Many expats feel worried that their pre-existing health problems will stop them from getting insurance in a new country. This fear is common, especially when medical care can be expensive. But the good news is, some insurance, like the plans...
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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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Phuket Business: Three more subdivisions get approval
PHUKET: A recent Phuket Land Subdivision Committee (PLSC) meeting gave provisional approval for three Land Subdivision Permit (LSP) applications, while denying another application. Chaired by Phuket Vice Governor Chamroen Tipayapongtada, the PLSC’s first meeting this year was held on March 5 at the Phuket Land Office. Among the topics addressed in the meeting was the review and consideration of four…
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Phuket Pearl’s crowning achievement
PHUKET: Phuket Pearl Group was selected to design and make the tiara for this year’s Miss Thailand World beauty pageant finalist, who will be crowned on April 9 in Bangkok. Mr Amorn Intha-charoen, president of the Phuket Pearl Group, revealed that his company was selected to design the crown as part of a competition that was organized by Thai TV…
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Phuket Business: AMCHAM to host US taxation seminar in Patong
PHUKET: If you are an American and are baffled by the US tax regime on overseas residents, then you do not want to miss an AMCHAM (the American Chamber of Commerce) seminar on Friday (March 8), at the Holiday Inn Patong. John Andes, tax partner at KPMG Thailand, will provide an overview of US taxpayers’ 2012 US income tax and…
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Phuket Business: A land of opportunity
PHUKET: The island emerged last year as Thailand’s strongest hotel market, according to a recent report by Jones Lang LaSalle. The report, entitled Spotlight on Thailand – Hotel Investment Market said that as of December 2012, year-to-date (YTD), Phuket had an occupancy rate of 72.4%. Meanwhile, it said that the Average Daily Rate (ADR) was 3,902 baht, which resulted in…
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Phuket Business: French ambassador to boost SMEs
PHUKET: The new French Ambassador to Thailand, Thierry Viteau, made his first visit outside of his station in Bangkok recently to discuss in Phuket the need to strengthen relations in the tourism market. “Phuket and Nice in France have been ‘sister cities’ since 1989; I want to take this opportunity to re-strengthen and renew our relations,” Amb Viteau, who assumed…
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Phuket Business: Local firm takes the LEED in sustainability
PHUKET: The island-based construction and development firm, Development Management Group Co Ltd (DMG), recently announced that its Sustainability Manager, John Covello has earned his LEED Accredited Professional (LEED AP) certification. The designation, with a specialization in Building Design and Construction, makes John one of a small number of sustainable building specialists in Thailand. LEED, which stands for Leadership in Energy…
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Phuket Finance: The many laws of averaging
PHUKET: Averaging is a word that has many meanings when it comes to investing. The investment world is full of conflicting opinions and advice, and a very common mistake people make is following advice that may be intended for short term speculative money and applying it to long term investment money, or money that is meant to be generating a…
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Phuket Business: Expats rank Thailand highly in global survey
PHUKET: One of the largest ‘expat living’ surveys conducted last year ranked Thailand second in terms of experience and quality of life, while ranking the Kingdom third in economics. The Hong Kong and Shanghai Banking Corporation (HSBC) recently published the results of its 2012 Expat Explorer Survey, which encompassed responses from more than 5,000 expats residing in thirty countries.The same…
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Phuket Business: OTOP fair to showcase local products
PHUKET: No less than 15 million baht is expected to be circulated during the “OTOP City – Four Regions” fair, an event that will showcase up to 200 booths selling quality local products from Phuket and across the country. The fair being held at the Saphan Hin fair-grounds, in Phuket Town (click here for map), commenced on Friday and will…
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Phuket Business: Fill “er up with gasohol please
PHUKET: Due to the discontinuation of the supply of pure Benzine (91-octane) petrol nationwide, the consumption of gasohol in Phuket this year is expected to increase by at least 50%.Rattakorn Klinchan, head of research at the Phuket Energy Office, affirmed that supplies of pure Benzine 91 were discontinued nationwide on January 1, with most Phuket stocks already drying out this…
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Phuket Business: How expats can simplify their finances
PHUKET: Moving to another country to work or retire, like Thailand, can be a daunting undertaking that will inevitably make managing your finances more complicated and time consuming. With that in mind, here are a few tips to help you simplify your finances so you can quickly start enjoying your new life as an expat:Consolidate your financial accounts:If you have…
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Phuket Business: Recalling the cycle of market emotions
PHUKET: My first investment was in a stock fund in 1990 when I was an engineering student at university. I was told to just buy and hold and put money in blindly and it will grow. They were somewhat right but I wanted to know more and began a quest to find a way to pinpoint what is known as…
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Phuket Business: Makro opens new branch in Patong
PHUKET: Membership-base, wholesale food retailer, Siam Makro PCL has expanded its Phuket operations with the opening of its Makro Food Service branch in Patong. Located in the area of the Mae Ubon Derm fresh market on Nanai Road in Patong, the new branch is the second Makro store on the island. Its retail area spans a total 1,000 square meters,…
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Phuket Business: Alien labor window extended
PHUKET: Employers of ‘low-skill migrant workers’ in Phuket and across Thailand have until March 16 to have their respective employees registered under the National Verification (NV) process, the Phuket Labor Office has confirmed. Applying specifically to temporary laborers from Myanmar, Cambodia and Laos, the latest NV deadline is an extension of another extension. The Phuket Gazette reported last week online…
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Phuket Finance: Beat inflation with a low-risk return
PHUKET: One fund that I have recently been putting into portfolios is the Freehold Income Trust (FIT), which invests in ground rents. Ground rents are a relic of feudal Britain, which can now be bought and sold like any other asset. They are extremely safe income-yielding alternative investments, since the holder of ground rent could theoretically repossess a property worth…
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Phuket Business: Not in front of the children
PHUKET: While working from home might seem like a practical option for workers in Thailand wanting to cut commutes and spend more time on their personal lives, the reality is somewhat different. According to a survey conducted by Regus, the world’s largest provider of flexible workplaces, six in ten respondents who work from home in Thailand revealed that they’re regularly…
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