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.
To keep up with the most recent business news in Thailand, subscribe to our newsletter and follow us on social media.
-
Sponsored The 5 best activities in Central Thailand (with exclusive travel deals from TAT and Klook!)
Calling all adventurous souls, culture vultures, and travel lovers! Are you ready for the new chapters through Thailand's Central region? Picture this: vibrant cities pulsating with life, ancient temples whispering tales from the past, and natural landscapes that will take...
-
SET and SGX launch cross-border trading for Thai depositary receipts
The Stock Exchange of Thailand (SET) and the Singapore Exchange (SGX) announced a joint venture that enables the trading of three depositary receipts (DRs) of Thai-listed companies on the SGX. This innovative collaboration, launched yesterday, is the first of its kind under the Thailand-Singapore DR Linkage project and aims to boost the appeal of Thai-listed companies in the regional market by…
-
Economist warns of panic as new Thai government risks fiscal sustainability
Concerns about fiscal sustainability have been raised by Kiatnakin Phatra Securities (KKP), as the new government‘s potential “addiction to budget deficits” may cause panic in the stock market. KKP’s chief economist, Pipat Luengnaruemitchai, expressed his apprehensions regarding the country’s fiscal outlook if excessive expenditure is allocated by politicians and the government without a clear financing plan. As Thailand prepares for…
-
Thai exports decline for seventh month as global demand slows
The Thai Ministry of Commerce has reported a decline in the nation’s export value for the seventh consecutive month. In April, the value dropped by 7.6% compared to the previous year, a significantly larger decrease than the 2% fall anticipated by economists. April’s exports were valued at US$21.72 billion, a notable decrease from March’s 12-month high of US$27.65 billion. Despite…
-
Bank of Japan to maintain ultra-loose policy, downplays change expectations
The Bank of Japan’s Governor, Kazuo Ueda, has stated that the central bank will continue to maintain its ultra-loose monetary policy, as there remains a significant gap to achieve the 2% inflation target sustainably. Ueda’s comments downplay the expectations of a policy change in the near future. He told parliament, “We expect inflation to quite clearly slow below 2% toward…
-
Asia-Pacific consumers to boost health and wellness spending post-pandemic
A recent survey reveals that approximately 70% of consumers in the Asia-Pacific region are prepared to increase their expenditure on health and wellness products, as the pandemic has heightened health consciousness. The study called the Asia-Pacific Health Priority Survey, was carried out by US supplement distributor Herbalife and highlighted a particularly strong interest in health improvement in Southeast Asia, specifically…
-
Thai parties pledge to tackle economic inequality, business groups sceptical
Business organisations have expressed support for the Move Forward Party’s campaign pledges to address economic inequality in Thailand, but they question the party’s ability to overcome long-standing issues. On May 22, eight political parties signed a memorandum of understanding, outlining 23 focal points for governing Thailand. These included a joint commitment to reducing inequality and promoting equitable economic growth. The…
-
Thai election uncertainty raises concerns for small business owners
A record 39 million Thai citizens participated in the recent general election, with the Move Forward Party (MFP) emerging victorious. However, the recently amended constitution poses challenges for non-military political parties, and the MFP-led coalition still requires additional upper-house votes to secure the 376 seats needed for leadership. This has raised concerns about Thailand‘s political future and its economic prospects.…
-
Thailand advances in clean energy and carbon credit trading
Thailand is making significant strides in clean energy development as the government and businesses collaborate on various projects aimed at reducing carbon dioxide emissions. Initiatives such as increasing the use of renewable energy sources for electricity generation and promoting electric vehicles (EVs) are helping create new environmentally friendly businesses. Companies that do not adhere to eco-friendly practices may face penalties,…
-
Thai election fallout hits SET, investors dump big-cap stocks
Despite initial optimism that the General Election could reverse the “sell in May” phenomenon, the recent poll sent the Stock Exchange of Thailand (SET) index into a tailspin, dipping 3% the first week after the election. Political uncertainties have triggered an outflow of funds, worsening the situation for Asia’s worst-performing bourse this year. The market capitalisation of the SET has…
-
Bangkok governor urges land tax review as city revenues plummet
Bangkok Governor Chadchart Sittipunt has urged the incoming government to reevaluate the recently implemented land and building tax rules, as the city’s revenues have seen a significant decline since the new rates were introduced earlier this year. Previously, the Bangkok Metropolitan Administration (BMA) set the land and building tax rate at 12.5% of the income generated by a plot of…
-
Temasek cuts staff pay after failed FTX crypto investment
Singapore-based investment company Temasek has announced that its investment team and senior management experienced a reduction in compensation following the firm’s failed investment in cryptocurrency company FTX. Temasek Chairman Lim Boon Heng stated that despite no misconduct by the investment team, they took collective accountability for the outcome. In November, Temasek Holdings revealed that it would write down its US$275…
-
Thailand sees 1 million Chinese tourists from January to May 18
Between January and May 18, Thailand welcomed 1 million Chinese tourists, following China’s border reopening, a government official reported. The Thai government is optimistic about achieving its target of five million Chinese visitors this year, with an expected spending of 446 billion baht. Government spokesperson Anucha Burapachaisri announced in a statement that the number of Chinese tourists visiting Thailand has…
-
Thapanee Kiatphaibool approved as new TAT governor
The Tourism Authority of Thailand (TAT) announced the appointment of Thapanee Kiatphaibool as its new governor, effective from September 1. The 48 year old, who currently serves as the deputy governor for domestic marketing, was chosen by the TAT board yesterday, following a recruitment process that began on February 20. Out of the two finalists, the nomination subcommittee, chaired by…
-
Neuralink’s mind-blowing milestone: FDA gives Elon Musk’s brain-implant venture green light
The US Food and Drug Administration (FDA) has approved Neuralink, Elon Musk’s brain-implant company, to start its first-in-human clinical trial. This marks a significant milestone for the company, which had previously faced challenges in obtaining approval. In a tweet, Neuralink stated that the FDA’s decision was an essential first step towards helping many people through their technology, though further details…
-
Biden assures no US default as debt ceiling deadline looms
US President Joe Biden has reassured the nation that there will be no default on the country’s debt, even as lawmakers went on a 10-day break without reaching an agreement on raising the borrowing limit. The government estimates it could run out of money to service its debts by June 1, and failure to repay loans could potentially lead to…
-
Thailand Post to launch digital mailbox service Prompt Post in Q3
Thailand Post is set to launch Prompt Post, a digital mailbox service, by the third quarter of this year. The move is aimed at capitalising on the growing trend of electronic document handling and supporting the company’s Post Digital mission. Thailand Post‘s chief executive, Dhanant Subhadrabandhu, explained that the company has been actively developing its business to offer comprehensive postal…
-
THAIFEX-ANUGA ASIA 2023 shapes the future of sustainable food innovation
The THAIFEX – ANUGA ASIA 2023 exhibition was launched by the Department of International Trade Promotion (DITP), the Thai Chamber of Commerce (TCC) and Koelnmesse (KM) Germany, with a focus on promoting sustainable food innovation. The event is happening now at IMPACT, Muang Thong Thani, from 23-27 May 2023. The event allows attendees to discover a variety of future food…
-
Excise Department supports Move Forward Party’s Progressive Liquor Act
The deputy director-general of the Excise Department stated that the department’s liquor policy is in line with the Move Forward Party‘s Progressive Liquor Act. The proposed Act aims to liberalise liquor production, allowing both small and large producers to enter the market. Kriengkrai Pattanaporn explained that the proposal is consistent with the department’s policy, and there would be no objections if…
-
Singapore maintains 2023 growth forecast amid global economic risks
Singapore‘s Ministry of Trade and Industry (MTI) has announced that it is maintaining its growth forecast for 2023 at 0.5% to 2.5%, with growth expected to be around the mid-point of this range. This comes as the economy experienced a 0.4% year-on-year growth between January and March, primarily due to the manufacturing, wholesale trade, and finance and insurance sectors. The…
-
Baht volatility looms amid political risk and new government formation
Kasikornbank (KBank) has warned investors that the formation of a new government and political risk may result in increased baht volatility over the next month. The bank forecasts that the baht will fluctuate between 33.80-35.40 per US dollar during this period due to various internal and external factors. The primary determinant is the direction of the US Federal Reserve’s policy…
-
Krungsri Auto targets 1/3 EV lending market share amid 203% growth forecast
Krungsri Auto, a leading automotive finance company under the Bank of Ayudhya, is targeting a one-third market share in electric vehicle (EV) lending this year. The firm anticipates a 6% decline in new motorcycle sales, amounting to 1.7 million units, mainly due to a high base effect. Out of these, 30,000 units are expected to be electric motorcycles, an increase…
-
Limited impact expected from new government’s stimulus amid political uncertainty
The impact of the new government‘s stimulus measures on the economy is expected to be minimal, as the stock market has already accounted for risks associated with political issues, according to the SCB Chief Investment Office (SCB CIO). Kampon Adireksombat, first senior vice-president and head of SCB CIO, stated that the formation of a new coalition government is still uncertain…
-
Biden and McCarthy hold productive talks on US debt ceiling deal
Negotiations between Democratic President Joe Biden and top congressional Republican Kevin McCarthy have progressed as both parties aim to reach a deal to raise the United States’ US$31.4 trillion debt ceiling and prevent a catastrophic default. Following a four-hour meeting at the White House, McCarthy stated that negotiations had improved and would continue. Although several issues remain unresolved, he predicted…
-
Meta finalises layoffs, cutting 10,000 jobs, refocusing on AI
Meta Platforms, the parent company of Facebook, completed its final phase of a three-part round of job cuts, reducing its workforce by 10,000. Employees from various departments, including marketing, site security, enterprise engineering, program management, content strategy, and corporate communications, announced their layoffs on LinkedIn. Privacy and integrity units were also affected by the job cuts. The social media giant…
-
China downplays Micron ban as individual case, not broader US firm targeting
China is attempting to mitigate the fallout from its recent decision to partially ban sales of US chipmaker Micron‘s products in the country on national security grounds. The ban has been challenged by Washington, which views it as a deliberate targeting of US businesses in response to export controls imposed on China. However, Chinese authorities, including the foreign ministry and…
-
Thai car production dips 0.13% in April as exports surge 43.53%
Thailand experienced a slight decline of 0.13% in car production in April compared to the previous year, with a total of 117,636 units produced, according to the Federation of Thai Industries (FTI). This decrease was primarily due to a drop in truck production. However, the country witnessed a significant surge in auto exports during the same month, owing to a…
-
Netflix expands password crackdown to US and 100+ countries
In an effort to tackle password sharing and increase revenue, Netflix has expanded its crackdown on account sharing to the United States and over 100 other countries, including the United Kingdom, France, Germany, Australia, Singapore, Mexico, and Brazil. The streaming giant has been seeking new ways to generate income as it faces potential market saturation, with measures such as limiting…
-
Thailand to ease yuan rules for trade amid rising US dollar volatility
Amid the increasing volatility of the US dollar in relation to other global currencies, regulators are considering loosening restrictions on the utilization of the yuan in yuan-baht trade transactions. The Bank of Thailand, in collaboration with Asian and ASEAN central banks, is actively working toward establishing frameworks for local currency settlements. This initiative aims to encourage the use of local…
-
Thailand’s state grid to ink 5.2GW renewable deals in Q3
The Energy Regulatory Commission (ERC) anticipates that power purchase agreements (PPAs) will be signed with companies chosen to participate in the 5.2-gigawatt renewable energy scheme during this year’s third quarter. The Office of the Attorney General is currently reviewing the legal aspects of the scheme, which includes power plant construction projects proposed by 175 selected companies. Following the completion of…
-
Thai food exports target 10% growth amid rising demand, quality standards
The Thai Commerce Ministry aims to boost food exports by 10% in 2023, driven by growing demand and enhanced Thai standards for quality, safety, and sustainable production processes. Commerce Minister Jurin Laksanawisit announced the target during the opening of THAIFEX-ANUGA ASIA 2023, expecting food exports to reach 1.55 trillion baht this year, up from 1.36 trillion in 2022. The food…
Don't forget to check out some other things to do in Thailand - get help starting a business or finding a job in Thailand, buy Thailand property, rent a yacht or book a medical procedure worldwide.