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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Thai PM affirms progress of Eastern Economic Corridor of Innovation
Commendable strides have been achieved in the first five years of the Eastern Economic Corridor of Innovation (EECi), said Thai Prime Minister Prayut Chan-o-cha. He said intense innovation and research activity outlined the success of this endeavour. PM Prayut, alongside Interior Minister, Anupong Paojinda, Thanakorn Wangboonkongchana, Minister of the Prime Minister’s Office, and Labour Minister, Suchart Chomklin embarked on a…
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Clear for takeoff: Thailand’s aviation adopts pay-to-fly models amid post-Covid revival
Thailand’s aviation industry is witnessing growth in pay-to-fly employment models after the struggle to regain its pre-Covid footing. In these arrangements, licensed pilots are required to pay more than 1.5 million baht (US$ 42,702) for training, a prerequisite to securing a job. This is happening against a backdrop of pilot salaries remaining below pre-pandemic levels due to a decrease in…
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Tipco Foods executives fined by SEC for insider trading violation
A statement from the Securities and Exchange Commission (SEC) confirmed the imposition of civil penalties on Tipco Foods Plc’s (TIPCO) chairwoman Laksana Supsakorn, and her colleague Sommart Dhupchinda. The two industry professionals were allegedly found guilty of jointly buying shares of a listed company using inside information. The SEC, which has used information provided by the Stock Exchange of Thailand…
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Burger King Thailand implements expansion and menu-diversification strategy
In a strategic response to the expected decline of Chinese tourists to Thailand, Burger King (Thailand) Co., is revising its market approach. It plans to expand its food range to introduce more non-burger products. This strategy aims to invite a broader customer base and boost revenues. As per the company’s general manager, Tanawat Damnernthong, Burger King has plans to establish…
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Thai tourism industry anticipates growth under Pheu Thai government
The Thai tourism industry is buzzing with optimism as the Pheu Thai Party is potentially gearing up to form the anticipated government. With Pheu Thai’s known successful stint in the realm of governance and its proven track record in enhancing the economy, the tourism sector is eagerly waiting for efficient tourism policies to be rolled out to mitigate existing challenges.…
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Wiko resumes Thai operations targeting 2% market share with affordable phones
Aiming to carve out 2% of the Thai market by year-end and expand to 4% by next year, mobile manufacturer Wiko has resumed commercial operations. The company, with its French roots, intends to capture the lower to middle-tier smartphone segment. This comes after a six-month hiatus in its marketing efforts for the Thai market, and now the brand will move…
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Flavorful finances: Thailand’s July inflation stays mild
The Ministry of Commerce in Thailand revealed that July’s headline inflation saw less acceleration than anticipated, credited largely to a dip in food and energy costs. Meanwhile, forecasts by the agency anticipate the inflation rate’s upturn by less than 1% per month until the year concludes. July’s year-on-year headline inflation amounted to a 0.38% rise, measured via the consumer price…
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Smooth skies ahead: THAI-turkish partnership signals global travel upswing
A monumental leap forward for international air travel took flight yesterday when Thai Airways International (THAI) and Turkish Airlines secured a memorandum of understanding. The anticipated partnership will focus on the cut-throat competition prevalent on Asia-Europe routes. Commonly, airline collaborations entail synchronising schedules and revenue sharing. For instance, Qantas Airways and Emirates have a working partnership on Europe-Australia services. However,…
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Rice prices skyrocket in Thailand due to drought effects and export ban
A meeting is set to be convened today by Commerce Minister Jurin Laksanawisit evaluating the repercussions of the drought instigated by the El Niño weather occurrence, and potential courses of action in response to the surge in rice prices. Concurrently, the Commerce Ministry under the watchful eyes of Wattanasak Sur-iam, chief of the Internal Trade Department, is monitoring good prices,…
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Arun Plus aims for profitability with Thailand’s growing EV demand
National oil and gas conglomerate, PTT Plc, is forecasting that its subsidiary company, Arun Plus Co, is likely to attain profitability in the next three to five years, fostered by higher demand from Thai drivers for electric vehicles (EVs). Arun Plus was founded three years prior when PTT ventured into the EV sector as part of its futuristic energy plan.…
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Former Sansiri president ensnared in tax-minimising controversy
A tax-minimising strategy, alleged by Chuvit Kamolvisit to involve Srettha Thavisin, the former President of Sansiri, a development firm listed on the SET, appears to be a common practice amongst landlords seeking to reduce tax liabilities on land sales. Property DNA’s Managing Director, Surachet Kongcheep, observed that it is typical for landowners to aim to lessen tax payments attached to…
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Bangkok freehold land in Lang Suan invites global investor bids
A prestigious piece of freehold land nestled in Bangkok‘s highly-prized region, Lang Suan, has notably emerged on the bidding block. Managed by Colliers Thailand, the real estate and professional services heavyweight, offers are being invited for a prominent development plot on the distinguished Lang Suan Road in Bangkok. Investors around the world have turned a keen eye towards this proposition,…
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Thailand’s bid to become smart, eco-friendly logistics hub in ASEAN
In the realm of business and industry, a campaign is gaining traction in which the government is being urged to bolster the country’s standing as a prospective eco-friendly hub for logistics within the prominent Southeast East Asian alliance, the Association of Southeast Asian Nations (ASEAN). Moreover, there is a strong emphasis on preparing businesses to adapt to the dawn of…
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Thai tourism stays firm amid debt rise, 200 million domestic trips targeted
Despite a backdrop of tepid consumption, the Tourism Authority of Thailand (TAT) remains steadfast in its pursuit of 200 million domestic tourism trips within the current year. Data from a survey conducted by the University of the Thai Chamber of Commerce paints a rather gloomy picture of increased household debt levels, up by 11.5% this year from last year. It…
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Thai industries call for new govt to revitalise flagging exports
The Federation of Thai Industries (FTI) declared the urgent need for Thailand to form a new government and establish fresh policies aimed at tackling lacklustre export performance. Data revealed a 7.4% decline to US$28 billion in the nation’s exports to its largest market, the Association of Southeast Asian Nations (ASEAN), during the period running from January to May. The FTI’s…
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Tisco ESU advises focus shift to debt instruments amid market instability
Amid global stock market turbulence, financial analysts at Tisco’s Economic Strategy Unit (Tisco ESU) are advocating that investors pivot their focus towards debt instruments for potential high-yield returns. The ongoing pressures from elevated bond yields, coupled with the weakening economies in the US and Europe, are some of the contributing factors exerting pressure on the financial markets. The ongoing macroeconomic…
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ASEAN bolsters talks with UK, Russia for potential economic cooperation plans
In an attempt to further drive economic cooperation, Southeast Asia, through the Association of Southeast Asian Nations (ASEAN), is accelerating its dialogue with the United Kingdom and Russia. This information was released by Auramon Supthaweethum, the head of the Trade Negotiations Department. A senior official from the department, Duangarthit Nidhi-u-tai, was sent to represent the region at the 4th ASEAN-UK,…
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Tourism revival in Thailand risks airport slot overcrowding, suggests alternative options
In anticipation of the upcoming high season, Thailand’s Tourism Authority (TAT) expressed concerns over the slot capacity at international airports. As more flights are set to resume, it is predicted that the country will receive around 8 million tourists this year, primarily derived from long-haul markets anticipating a significant tourism revival. The deputy governor for Europe, Africa, the Middle East,…
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Ashton Asoke condo’s fate lies in legal interpretation
The fate of the troubled Ashton Asoke condominium hinges on the interpretation of three pertinent sections of the prevailing law, as explained by the Bangkok Metropolitan Administration (BMA). In a clarification of the circumstances surrounding the Ashton Asoke condominium dilemma, the Deputy Governor of Bangkok, Wisanu Subsompon highlighted the relevance of Sections 40, 41, and 42 of the Buildings Control…
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Cathay Pacific highlights Bangkok’s crucial role in aviation recovery
Southeast Asia, particularly Bangkok, is showing promising signs of growth in terms of flight traffic, according to Cathay Pacific, which has ranked the Thai capital as one of its stronger-performing flight routes. Post-Hong Kong’s reopening, Cathay has reported a steady ascent, keeping pace with global passenger traffic. One of the airline’s senior executives, Dominic Perret, highlighted Thailand as a key…
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Thai tourism seeks visa fee waiver to attract Chinese and Indian visitors
A plea for the revival of a visa fee waiver programme has been issued by Thailand‘s tourism industry, seeking an influx of visitors from populous nations like China and India. The request follows a lukewarm recovery in numerous essential markets and is viewed as vital for enhancing arrivals this year. President of the Thai Hotels Association, Marisa Sukosol Nunbhakdi, emphasized…
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Restaurant owner confronts negative reviewer at their home
Following an online uproar when a restaurant owner confronted a customer who had left a negative review, the owner herself sought to clarify events. She states she did not intend to cause distress but rather to understand the customer’s complaints. The owner identified only as Tum elaborated on what happened regarding the negative review. The customer accused the unnamed Thai…
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Twinkling triumph: Mitsubishi Triton shines in bold bid to rock the truck market
Bangkok last week played host to the unveiling of Mitsubishi’s revamped Triton pickup truck at its global premiere. The twinkle in Mitsubishi’s marketing plan, the Triton carries a striking aesthetic and innovative features that indicate a bold bid to stir things up within the truck market. Constructed in Thailand, the Mitsubishi Triton is slated for export to over a hundred…
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Penny-pinching plans: Finance ministry’s welfare budget shuffle in the works
In an attempt to ease the strain on government spending, the Ministry of Finance is contemplating new measures regarding the allocation of the public welfare budget, an anonymous source from the finance ministry disclosed. This primarily pertains to the bracket of public welfare budget expenditure which, the source identifies, consists of redundant items that do not necessarily correlate with the…
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Bangkok’s Ashton Asoke in legal crisis over construction permit
The 50-storey Ashton Asoke Condominium in Bangkok, an impressive high-rise establishment, is in hot water. After a recent judgement by the Supreme Administrative Court revoked its crucial construction permit, the Governor of Bangkok, Chadchart Sittipunt, faces increasing pressure to intervene. This decision escalates the ongoing legal conflict involving the 233 billion baht project, located in the Watthana district. This judgement…
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Bangchak Corporation pivots to sustainable aviation fuel
A forward-looking strategy is being implemented by energy conglomerate Bangchak Corporation as it navigates the uncertain future of the oil refinery business, deeply impacted by the global push for electric vehicles. In an endeavour to address this dilemma, the corporation has steered its focus towards the development of biofuel, known as sustainable aviation fuel (SAF), for aircraft, potentially a major…
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Thai banks see modest rise in mortgage loans
In the first six months of this year, a modest increase in mortgage loans was recorded by banks as purchasing power of homebuyers took a hit due to rising interest rates. Collectively, eight out of the ten SET-listed banks reported consolidated outstanding mortgages tallying 2.39 trillion baht as of June, marking a 1.04% rise from 2.37 trillion baht in December…
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Centara Udon officially reopens after upscale refurbishment and dining expansion
Centara Hotels & Resorts in association with Central Pattana Plc heralded the official reopening of Centara Udon, post a comprehensive round of refurbishing endeavours aimed at upscaling an array of facilities and introducing novel dining opportunities. Thirayuth Chirathivat, who is at the helm of Centara Hotels & Resorts, reported the successful conclusion of the renovation phase, subsequently marking the formal reopening…
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Budget airlines hike flights to China amid sluggish post-Covid recovery
In an attempt to achieve post-Covid recovery, budget airlines across the globe have increased flight frequencies to China. However, travel and capacity are yet to reach pre-Covid volumes. On its side, the Tourism Authority of Thailand (TAT) is being circumspect about implementing a visa fee waiver scheme to draw in more international visitors. Despite loom border controls from the start…
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Bank of Thailand forecasts final interest rate hike amid inflation uncertainty
The Bank of Thailand (BoT) aims to cap its series of interest rate increases with a final 25-basis-point hike slated for August 2, due to an ongoing high and uncertain inflation outlook. This insight has been gathered from a poll conducted recently. After June’s annual headline inflation eased down to 0.23%, falling below the BoT’s target range of 1%-3%, it…
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