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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Sponsored A World Kindness Day: Spread kindness, prevent illness - Get your 10% discount
With World Kindness Day just two days away on November 13, it’s the perfect time to reflect on how empathy and care can make a real impact, not just in our relationships but in our health, too. This day is...
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Commerce Ministry launches economic recovery plan to aid SMEs
The Commerce Ministry is collaborating with government agencies in Thailand to roll out a nationwide economic recovery initiative over five months, aimed at assisting small businesses, easing expenses, and reducing the cost of living. Commerce Minister Pichai Naripthaphan convened with over 150 representatives from private sector organisations to jointly launch the project. The discussions incorporated cooperation from both public and…
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Brick by brick: ONEAM builds investor excitement with TIREIT launch
ONE Asset Management (ONEAM) is digging foundations in the investment world, launching the Thai Industrial Real Estate Investment Trust (TIREIT) for investors seeking fresh opportunities amidst a shifting financial landscape. With high interest rates finally shifting into the rear-view mirror, savvy investors are turning to alternative assets like TIREIT to spread their risk. Chief executive Pote Harinasuta has revealed that…
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KBank ‘assets’ itself with new ventures amid rising NPLs
Kasikornbank (KBank) is shaking things up and eyeing new profits by tackling its bad assets head-on via joint venture asset management companies (JV-AMCs), as non-performing loans (NPLs) climb higher across the banking scene. Rungruang Sukkirdkijpiboon, KBank’s co-President, spilt the beans that the bank is launching a fresh JV-AMC in partnership with Bangkok Commercial Asset Management (BAM), adding to its current…
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Kao Thailand celebrates 60 years of clean streaks, happy households
Kao Industrial (Thailand) Co., Ltd., is rolling out the red carpet for its 60th anniversary, celebrating six decades of serving Thai households with beloved brands like Attack, Magiclean, Haiter, Curel, and Laurier. As the first overseas arm of Japan’s iconic Kao Corporation, established in 1964, Kao Thailand has been banging the drum for hygiene & protection while upping the ante…
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Thai execs ‘gen’-erate buzz, placing big bets on AI for success
In a bold business move, executives in Thailand are betting big on generative artificial intelligence (GenAI), catapulting it to the top of their corporate agendas, reveals a sizzling study by global CRM giant Salesforce. Amidst economic turbulence, Siddharth Rastogi, Salesforce’s vice-president for the ASEAN, insists it will work. “We’ve got the magic mix for AI adoption, thanks to the nation’s…
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Bank of Thailand to keep rates steady amid US Fed caution
Analysts predict the Bank of Thailand will maintain its policy rate during its meeting tomorrow, citing a recovering domestic economy and potential changes in US Federal Reserve interest rate cuts if inflation revives. Chaiyot Jiwangkul, head of research at Krungsri Securities (KSS), attributed the economic rebound to increasing tourist arrivals, government budget disbursements, and a 10,000-baht (US$300) cash handout to…
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Thailand to explore new tax system for ageing population
Thailand must urgently adjust its tax structure and increase tax participation to address future expenses related to its ageing population, according to Deputy Finance Minister Julapun Amornvivat. The Finance Ministry is exploring a negative income tax (NIT) system to assist individuals with incomes below a government-set threshold. Julapun clarified that the goal is to ensure residents can sustain their livelihoods,…
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Middle East tensions threaten Thai economy with rising oil prices
Geopolitical tensions in the Middle East are having a significant impact on the Thai private sector, as the prolonged conflict between Israel and Hamas extends beyond a year. The ongoing Israeli offensive has led to rising oil prices and shipping blockages, which threaten to affect the Thai economy by increasing inflation and prompting higher interest rates in countries like the…
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Stocking up: Thai market on a roll with Vayupak, ESG fund boost
Thai stocks are poised for continued growth in the fourth quarter, driven by incremental investments in the state-run Vayupak Fund and tax-saving Thai ESG funds, according to the Stock Exchange of Thailand (SET). SET President Asadej Kongsiri revealed that retail investor participation has surged, now accounting for 52% of trades, up from just under 50% in the preceding months. An…
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Economists urge Bank of Thailand to maintain independence
Economists are urging the Bank of Thailand to maintain its independence, emphasising its importance for the nation’s economic stability and growth. Nonarit Bisonyabut, a research fellow at the Thai Development Research Institute, pointed out that globally, countries with autonomous central banks tend to achieve better economic stability, lower inflation, and stronger economic growth compared to those where central banks lack…
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Don’t ban TEMU: Thai experts call for enhanced trade standards
Thailand should embrace trade opportunities with China rather than follow Indonesia’s lead in banning the Chinese e-commerce platform TEMU, say experts. In light of Indonesia’s recent decision to prohibit the TEMU application, the International Institute for Trade and Development (ITD) voiced its opposition to a similar move by Thailand. Wimol Pankong, Deputy Director (Academic) of ITD, urged the Thai government…
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Thailand, Cambodia to revive US$300 billion offshore oil field talks
The Pheu Thai-led coalition government is set to revive talks with Cambodia regarding the exploration of a contentious offshore oil and gas field, estimated to hold at least US$300 billion in reserves. This field has been a point of contention between the two nations since the 1970s. Prime Minister Paetongtarn Shinawatra, who assumed office in September following the Constitutional Court’s…
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5 tips for a professional headshot
A professional headshot is more than just a photo – it’s an important tool for making a strong impression in the digital world. But if you’ve never had a professional headshot taken, the thought of getting one might intimidate you a little bit. Here are five tips to help you capture a headshot that shows you in your best light…
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Power play: B.Grimm sets sights on electrifying China and Greece
B.Grimm Power appears to be on a mission to take over the global energy scene, with China and Greece now in its sights. The Thai energy giant is exploring renewable projects in these two countries, aiming to add several hundred megawatts to its portfolio. CEO Harald Link teased the plans but kept most details under wraps, stating that talks were…
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Thai Vietjet’s foreign pilot plan under scrutiny by AirAsia executive
The Airlines Association of Thailand (AAT) deemed Thai Vietjet’s request to allow foreign pilots to fly domestic routes via a wet lease arrangement as acceptable, citing its temporary nature. However, an AirAsia executive has expressed strong opposition to this proposal. AAT President Puttipong Prasarttong-Osoth says he sees the wet lease arrangements as a win-win situation, as airlines can temporarily increase…
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Thai corporate bond issuance falls 14% amid market challenges
The issuance of new corporate bonds in Thailand dropped 14% to 704 billion baht (US$21 billion) in the first nine months of this year, as the market faced challenging conditions for fundraising. Bond issuers are waiting for interest rates to decline, according to the Thai Bond Market Association (ThaiBMA). Somjin Sornpaisarn, President of ThaiBMA, reported that the bond market’s total…
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Green dreams: EU-ASEAN leaders forge path to eco-future
Top EU-ASEAN business leaders and cooperation agencies came together for a high-powered Partners’ Dialogue forum to tackle the opportunities and challenges of ASEAN’s green transition. The event was hosted by none other than the European Union’s Ambassador, H.E. Sujiro Seam. Representatives from EU-ASEAN institutions, member states, businesses, and cooperation agencies gathered to share insights and experiences on ASEAN’s journey towards…
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Crypto mania: Bitcoin set to skyrocket as interest rates plummet
Merkle Capital is forecasting a surge in Bitcoin prices and a flurry of cryptocurrency investments this month, thanks to the global trend of dropping interest rates. Investment wizard Woramet Chansen from Merkle Capital spilled the beans, noting that Bitcoin’s price rocketed over 25% in September. This came hot on the heels of the US Federal Reserve’s first rate cut in…
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Middle East tensions may impact OFFO’s debt repayment strategy
Rising tensions in the Middle East, particularly between Israel and Iran are anticipated to push global crude oil prices higher, potentially impacting the Oil Fuel Fund Office’s (OFFO) debt repayment strategy, according to a spokesperson from the Energy Ministry. Uncertainty surrounds whether the United States will back potential Israeli strikes on Iran’s oil infrastructure, raising concerns about oil price volatility,…
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Paw-some event: Bangkok set to unleash Pet Fair South East Asia
Hold onto your leashes! Pet Fair South East Asia is set to fetch a new standard in the pet industry, poised to become the tail-wagging talk of the town from October 30 to November 1, in bustling Bangkok. This year’s extravaganza promises to be the ultimate gathering for industry bigwigs and moggies from Asia, Europe, the US, and the Middle…
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Thailand cash handout to boost Q4 GDP growth despite challenges
The Thai government’s initial cash handout is anticipated to boost the national economy in the upcoming months, according to industrial leaders and brokerages. They recommend that the second phase of the handout target individuals with higher purchasing power to prolong economic stimulation. In the first phase, the government distributed 10,000 baht in cash to each of the 14.5 million welfare…
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Thai Airways’ growth strategy takes off
Thai Airways International (THAI) is set to transform some of its business units into subsidiaries as part of its growth strategy. Chai Eamsiri, THAI President, announced the plan, emphasising the potential for various business units to operate independently. Chai highlighted the initial focus on the aircraft maintenance and catering divisions, which boast an estimated average profit margin of nearly 20%…
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Rice to the occasion: Thai prices drop as India returns to the market
Thai white rice prices have started to fall after India decided to resume non-basmati white rice exports. Despite this development, this year’s rice export volume remains unaffected, according to Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association. Chookiat stated that on September 28, the Indian government lifted a ban on non-basmati white rice exports that had been in…
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Banking on transparency: Thailand opens data doors for financial access
The Bank of Thailand unveiled an open data initiative aimed at enhancing access to financial services for Thai citizens and businesses. The Your Data initiative allows individuals and small and medium-sized enterprises (SMEs) to share their data with financial institutions, facilitating improved access to a range of financial services. The central bank’s project, in collaboration with regulatory agencies and financial…
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Finance minister prioritises funding access over rate cuts
Finance Minister Pichai Chunhavajira affirmed the significance of access to funding sources over lowering interest rates. Following discussions with Bank of Thailand Governor Sethaput Suthiwartnarueput, Pichai underscored that interest rate policy remains under the purview of the central bank’s Monetary Policy Committee (MPC), which is set to convene on October 16. Describing the talks as comprehensive, Pichai highlighted various factors…
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Thailand unveils 145 billion baht cash handout to boost economy
Deputy Finance Minister Paopoom Rojanasakul unveiled a whopping 145 billion baht ((US$4.4 billion) cash handout scheme that promises to rev up the economy before the year’s end. This mega injection is set to turbocharge the nation’s GDP by a tidy 0.3 percentage points. And it’s not just a flash in the pan, the economic boost is expected to keep rolling…
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Thai businesses gear up for AI-mazing future with tech adoption plans
A recent survey reveals that approximately 17% of Thai organisations are currently utilising artificial intelligence (AI), with 73% planning to adopt the technology in the future. This data comes from the Readiness for the Application of AI Technology for Digital Services in 2024 survey, conducted by the Electronic Transactions Development Agency (ETDA) and the National Science Technology Development Agency (NSTDA).…
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Gold prices in Thailand going for baht-er as market shines bright
Thailand’s gold market is set to sparkle as prices climb to a dazzling 44,000 baht per baht weight, a leap from the previous 41,350 baht. The surge is driven by escalating tensions in the Middle East, a dipping baht, and the US Federal Reserve’s impending interest rate cuts, says the Gold Traders Association (GTA). On October 2, the gold bar…
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Driving change: Thai tax breaks on cars for the elderly, disabled
The Excise Department is set to introduce a new ministerial regulation to waive taxes on cars designed specifically for the elderly or people with disabilities. This regulation would reduce the current excise tax rate of 25 to 40% on such vehicles. Ekniti Nitithanprapas, director-general of the department, explained that vehicles with over 10 seats, such as passenger vans, are currently…
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Thailand to go cashless by 2028, leads ASEAN in RTP usage
Thailand is set to transition to a cashless society more swiftly than its regional counterparts, driven by the nation’s rapid digital adoption and transformation, as per a Visa survey. Visa, a global leader in digital payment services, recently conducted the Consumer Payment Attitude Study, which indicated that Thailand could become a cashless society by 2028. This forecast places Thailand ahead…
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