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
Top 6 reasons you should send your kids to an American-Style summer camp in Thailand
It’s the end of June, and that means kids in Thailand are on a long summer holiday! If you’re looking for a fun yet educational activity for your kids to pass summer break, sending them to iCamp Thailand, the first...
-
BEC World targets leading content provider status amid digital disruption
BEC World, the operator of Thailand‘s Channel 3, is embarking on a transformation to become a leading content provider and expand its revenue streams in the digital content platform and global content licensing sectors. Surin Krittayaphongphun, president of TV business and executive director at BEC World, said this strategic move aims to ensure the company’s survival and sustainable growth in…
-
TKC partners with European firms for Thai smart city and building projects
Turnkey Communication Services (TKC), a digital solutions provider listed on the Stock Exchange of Thailand, has announced a partnership with three European tech companies to develop smart buildings and smart cities in Thailand. This collaboration supports the Thai government’s digital transformation roadmap and aims to deliver integrated solutions for people flow management systems, using 3D sensors and artificial intelligence (AI)…
-
Thai economy could face 36 billion baht hit from extreme weather
Extreme weather conditions, including drought and floods, could potentially inflict a 36 billion baht blow to Thailand‘s economy this year, warns the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB). Drought, in particular, is a significant concern as it may severely affect the agricultural and manufacturing sectors, further hindering the country’s already sluggish exports. “Manufacturers are worried about drought…
-
Thai state banks raise interest rates after central bank policy hike
Following the Bank of Thailand‘s recent policy rate increase, state banks, including the Government Savings Bank (GSB) and the Bank for Agriculture and Agricultural Cooperatives (BAAC), have raised interest rates for loans and deposits, with deposit rates exceeding loan rates. Vitai Ratanakorn, GSB’s president and chief executive, stated that after the central bank’s policy rate increased by a quarter percentage…
-
UK house prices fall for first time in 11 years amid rising borrowing costs
UK house prices have experienced their first decline in over a decade, with increasing borrowing costs impacting potential buyers, according to mortgage lender Halifax. In May, the average property price saw a 1% drop compared to the same month in the previous year, with prices £7,500 lower than their peak in August. Halifax’s Director of Mortgages, Kim Kinnaird, highlighted that…
-
China’s exports shrink, imports fall amid weak global demand
Chinese exports experienced a sharper decline than anticipated in May, while imports also fell, reflecting weak international demand and sluggish domestic consumption. In May, exports from the world’s second-largest economy dropped 7.5% year-on-year, the largest decrease since January, compared to 8.5% growth in April. Imports shrank by 4.5%, a slower rate than the 7.9% decline in the previous month. The…
-
Thai investor confidence sinks as government formation uncertainty looms
Investor confidence in the nation’s stock market has dropped to an eight-month low due to uncertainty over the formation of a new government, according to the Federation of Thai Capital Market Organisations (Fetco). The overall investor confidence index has dipped to 77.70 from 110.09 in May, entering the “bearish zone” for the first time in eight months. Foreign investor confidence…
-
OECD raises global growth outlook as inflation eases, warns of long road
The Organisation for Economic Co-operation and Development (OECD) has marginally increased its global economic growth forecast to 2.7%, up from 2.6% in its previous report. This revision is attributed to easing inflation, China lifting Covid restrictions, falling energy prices, and supply chain improvements. However, the recovery remains below the 3.3% growth recorded in 2022, and the organisation warns of a…
-
Sam Altman dismisses public listing, discusses AI’s future and regulation
OpenAI CEO Sam Altman has stated that the company, backed by Microsoft and known for its ChatGPT technology, has no intentions of going public in the near future. Speaking at a conference in Abu Dhabi, Altman expressed concerns about potential conflicts with investors’ expectations and the need for a unique structure to maintain OpenAI’s capped-profit model. OpenAI has raised US$10…
-
Medical glove exports decline amid allergy concerns and easing Covid-19 cases
The export of medical gloves made from rubber latex is expected to continue its decline this year, as Covid-19 infections ease and some countries impose bans on natural rubber gloves due to allergy concerns, according to the Office of Industrial Economics (OIE). The decline in glove exports has been significant since last year, impacting Thailand, Indonesia, and Malaysia, said Warawan…
-
OpenAI CEO dismisses public listing, discusses AI’s future and regulation
OpenAI CEO Sam Altman has stated that the company, backed by Microsoft and known for its ChatGPT technology, has no intentions of going public in the near future. Speaking at a conference in Abu Dhabi, Altman expressed concerns about potential conflicts with investors’ expectations and the need for a unique structure to maintain OpenAI’s capped-profit model. OpenAI has received US$10…
-
Thai coalition parties propose zero-based budgeting for efficiency
The implementation of zero-based budgeting (ZBB) has been proposed by the Move Forward Party (MFP) as part of a 23-point memorandum of understanding signed by eight political parties seeking to form a new coalition government. The MFP argues that the current budgeting system fails to address the public’s needs due to bureaucratic hurdles. ZBB requires state officials to justify expenses…
-
Inflation plummets to 21-month low in Thailand as fuel and electricity prices drop
Inflation in Thailand reached its lowest point in 21 months last month, primarily driven by declining fuel prices and electricity bills, along with a higher price base in May of the previous year. Experts predict that the inflation rate will further decrease throughout June. Wichanun Niwatjinda, deputy director-general of the Trade Policy and Strategy Office, expects inflation for June to…
-
Foreign investors sell 100 billion baht in Thai stocks and shares amid global rate rise
In the first five months of this year, foreign investors offloaded almost 100 billion baht worth of Thai shares, with 33.4 billion baht sold in May alone, due to increasing global interest rates and uncertainties surrounding the formation of a new government. Despite this, the Stock Exchange of Thailand (SET) expressed optimism yesterday, believing that the recent easing of the…
-
Thai Shippers’ Council eyes 0-1% export growth amid new government push
The Thai National Shippers’ Council (TNSC) maintains that the nation’s exports can achieve a growth of 0-1% this year, calling for the swift formation of a new government to boost trade competitiveness and tackle economic challenges. TNSC Chairman Chaichan Chareonsuk anticipates that Thai exports from May to June will experience a slight year-on-year contraction, leading to a 5-6% decline for…
-
Shanghai court freezes £200m in Dalian Wanda unit shares
A Shanghai court has imposed a freeze on 1.98 billion yuan (US$278.18 million) worth of shares in a subsidiary of Dalian Wanda Group, the largest commercial property developer in China. The affected shares were issued by Dalian Wanda Commercial Management Group, the property management division of Dalian Wanda Group. Two court notices, dated June 5, revealed that the shares were…
-
Asia-Pacific stocks rise on China stimulus hopes and Wall Street gains
Asian-Pacific stock markets experienced gains on Wednesday, as expectations for economic stimulus from China and Wall Street’s overnight gains boosted investor sentiment. The MSCI’s broadest index of Asia-Pacific shares outside Japan rose by 0.7% in the morning, with China’s benchmark equity index increasing by 0.3% and Hong Kong’s Hang Seng adding 1.2%. This comes after China reportedly requested major banks…
-
Thailand’s TPIPP allocates 14 billion baht to phase out coal by 2026
TPI Polene Power Plc (TPIPP), the leading waste-to-energy project developer and operator in Thailand, is set to continue its five-year capital expenditure plan of 14 billion baht. The plan, which began last year, aims to replace coal usage with renewable energy sources and increase the company’s power generation capacity. TPIPP has earmarked 3 billion baht for projects focused on reducing…
-
AI boom offers productivity boost, defying dotcom bubble fears
Despite the hype surrounding artificial intelligence (AI) since Microsoft’s investment in ChatGPT back in January this year, the buzz in the markets is far from the excesses of the dot-com bubble. The recent rise in Nvidia’s market capitalisation, reaching US$1 trillion, has raised some eyebrows. However, the AI boom has a more solid foundation. The decline in Big Tech stocks…
-
EU mulls mandatory ban on high-risk 5G firms like Huawei
The European Union is contemplating a compulsory prohibition on member states utilising firms that may present a security threat in their 5G networks, which includes China’s Huawei Technologies, according to the Financial Times. This decision is a reaction to growing apprehensions in Brussels regarding specific national governments postponing measures on the issue, as reported by officials. In 2020, the EU…
-
Boeing halts 787 Dreamliner deliveries again due to manufacturing issue
Boeing announced on June 6 that the delivery of its 787 Dreamliner aircraft has once again been delayed due to a manufacturing issue. This is the latest in a series of setbacks that have affected the two-aisle jet. The company stated that it is currently inspecting fittings on the horizontal stabiliser, a part of the tail, for a “nonconforming condition.”…
-
TSMC’s German chip factory talks progress, subsidy negotiations ongoing
Taiwanese chipmaker TSMC has expressed optimism regarding ongoing talks to establish its first European factory in Germany. The company has been in discussions with the German state of Saxony since 2021 about constructing a fabrication plant in Dresden. The European Union recently approved the EU Chips Act, a US$46.07 billion subsidy plan aimed at doubling the region’s chipmaking capacity by…
-
Thailand set to exchange financial data to combat transnational tax evasion
The Revenue Department of Thailand is set to enhance its efforts to combat transnational tax evasion through the exchange of financial information, according to its director-general, Lavaron Sangsnit. Thailand joined the Global Forum on Transparency and Exchange of Information for Tax Purposes in 2017 and has since been working towards adhering to international standards for tax cooperation. The Convention on…
-
Chinese suppliers protest Changan’s 10% payment cut amid price war
In the wake of an ongoing price war among automobile manufacturers in China, Chongqing Changan Automobile, a state-owned automaker, has faced backlash from its suppliers after cutting their payments by 10%. The suppliers claim that they are being unfairly forced to bear the brunt of the intense competition in the world’s largest auto market. Since January, over 40 brands have…
-
WHAUP eyes Vietnam wind, solar assets to meet rising energy demand
WHA Utilities and Power (WHAUP), a subsidiary of Thailand’s largest industrial land developer and operator, is set to acquire wind and solar power generation facilities in Vietnam with a capacity of 50-100 megawatts. This move aims to capitalise on the increasing energy demand in the country. The acquisition is expected to be finalised by the end of the year, according…
-
Thai future food industry targets 5% growth amid health and eco trends
The Thai future food industry is expected to see a 5% growth this year, as the demand for healthier and more environmentally friendly food options rises. Visit Limlurcha, president of the Thai Future Food Trade Association, highlights the potential for export growth due to global trends that are bringing about significant changes in production, economies, lifestyle, society, and behaviour. From…
-
Sky ICT’s subsidiary Pro Inside eyes Stock Exchange of Thailand listing
Sky ICT, a SET-listed aviation technology firm, is planning to list its wholly-owned subsidiary Pro Inside on the Stock Exchange of Thailand in early 2024, in a bid to create a new long-term revenue stream. Pro Inside, an intelligent system integrator, was separated from Sky ICT last year to focus on bidding for state projects. Pro Inside CEO Benyapa Chalermwat…
-
Saudi Arabia announces fresh oil output cut amid recession fears
Riyadh unveiled a new oil output reduction on Sunday after a gathering of major producers focused on supporting prices despite concerns over a potential recession. The meeting involved the 13-member Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia, and its 10 partners, including Russia, and featured intense negotiations. Saudi Arabia announced a fresh cut of one million…
-
BAFS targets 7.5 billion baht revenue by 2026 with renewable energy focus
Bangkok Aviation Fuel Services Plc (BAFS) is predicting its revenue to hit 7.5 billion baht by 2026, with a significant boost from its diversification into renewable energy development. Although the jet refuelling service, which has bounced back from pandemic-induced losses over the past three years, remains the company’s primary focus, its earnings proportion is expected to decrease. BAFS estimates that…
-
Lee Kum Kee eyes Thai ready-to-eat market expansion (video)
Asian sauce and seasoning manufacturer Lee Kum Kee Sauce Group is exploring opportunities to enter Thailand’s ready-to-eat food market through collaborations with local partners. Having been in the industry for 135 years, the company recognises the growth potential in this sector as it caters to the demands of busy consumers seeking convenience. Cheryl Chan, the regional marketing director of Mahsuri…
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.