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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Get Your Schengen Visa for France with VisaThailand.com
With the Paris Olympics 2024 approaching, there are even more reasons to plan your visit! However, before you can enjoy the wonders that France has to offer, it is essential to obtain a Schengen visa for your thai friend. At...
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Flip a coin – bumpy ride for the crypto-faithful
The following is a news opinion and NOT financial advice. If you’re into trading or investing in cryptocurrencies you already know it’s been a rocky ride. Just one roller coaster crypto-ride – Bitcoin – stands out since it hit a peak on November 8 last year. And has tanked 70% of its perceived value since. Today the online crypto-gurus are…
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How do you pay for online casinos in Thailand?
Despite ‘mostly’ being illegal in Thailand, gamblers and entrepreneurs alike are finding smart and innovative ways to circumnavigate the laws. The use of VPNs makes almost anything impossible, possible when you’re online, and it’s no different when gambling! What was once a relatively niche part of the overall gambling industry, online gambling has grown to be by far the most…
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Thailand offers 5-year income tax exemption for foreign actors
The cabinet approved a 5-year personal income tax exemption for foreign film stars who earn income from foreign movies shot in Thailand. The government revealed they wanted to attract more film crews and expected the movie industry to generate about 17.5 billion baht over those 5 years. The PM’s Deputy Spokesperson, Ratchada Thanadirek, says that the government wants to encourage…
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Japanese restaurant owner makes slippery getaway
The owner of a popular Japanese buffet restaurant, Daruma Sushi, made a slippery getaway from Thailand last week leaving a trail of chaos behind and complaints from over 500 people. A number of those people had lodged fraudulent complaints against the owner with the police and the consumer protection agency. The owner disappeared a day before he closed all 27…
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Thai nightlife midnight closing time under pressure this week
The current ‘official’ closing time for nightlife venues, in 31 provinces around Thailand (yellow and blue zones), is midnight. That all kicked in at the start of this month. But, hey, it’s Thailand and there’s also been plenty of venues, particularly in the tourist zones, where the midnight close time has been stretched a bit. But some netizens have noticed…
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Huge Bangkok bar raided as police arrest underage and customers for drug possession
Despite the ‘official’ closing time for nightlife venues around Bangkok being extended to midnight, from 11pm, on June 1, many venues have continued to push their luck with authorities for the last few months. This venue since February. Yesterday morning Pathumwan district police raided a bar in Bangkok’s Rong Muang area after receiving a tip off that the venue had been…
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Meta downgrades commitment to Facebook News service, tech giants don’t want to pay for News
Meta, aka Facebook, are looking to review commitments to pay publishers for their news articles. The payments, said to be 100s of million US$ a year to mostly larger news publishers, have shown little return to the Facebook platform or gained them many extra users. Some of the larger publishers, both in the US and elsewhere, are going to have…
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Central Pattana’s 10 billion baht investment in 37 new hotels
Central Pattana is launching 37 hotels in 27 provinces in Thailand with 4,000 rooms, valued at a total of 10 billion baht, under the Centara Hotels and Resorts brand. The kingdom’s largest retail property development and investment company aims to hire about 3,900 people across the country in the process. The company will focus primarily on second-tier locations, as it…
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Thailand will not starve, says Commerce Minister
Deputy PM, and Commerce Minister, Jurin Laksanawisit, yesterday moved to ease fears of food shortages in Thailand on the back of recent protectionism measures introduced by neighbouring countries, export bans, and the ongoing Russia-Ukraine conflict threatening to worsen world food supplies. Jurin declared Thailand has an “abundance of food” produce and there will be no shortages despite the recent embargos.…
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Commerce Ministry says Thais should sell to Chinese customers on TikTok
The Ministry of Commerce has come up with a cunning plan that Thai people could make more money by selling products, especially clothes, to Chinese people via the popular TikTok app. The ministry also came up with tips and ideas for Thai sellers who want to win new Chinese customers on TikTok. Yesterday, the Director-General of the Department of International…
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Thailand’s biggest new attraction “Andamanda” opens in Phuket
Moisture and adventure meets Thai culture and mythology at Andamanda, Thailand’s biggest water park, covering 58 rai of land in Kathu, in Phuket, southern Thailand. On Saturday, Thailand’s former deputy prime minister Suwat Liptapanlop attended the water park’s grand opening. The new theme park is located on the main road to Patong, about 800 metres west of the Samkong intersection,…
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Lockdown in China stinks for Thai farmers
With no ending in sight in regards to lockdown in China, Thailand has been told it must source raw materials from other countries if it is to survive causing a stink in the farming industry. Thailand’s manufacturing industry and supply chains continue to bear the brunt of lockdowns in China’s major cities. China is the nation’s largest supplier of raw materials…
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Thai airlines say recovery being held up by high fuel prices
The head of commercial operations at Thai Lion Air says high oil prices continue to hinder recovery in the aviation sector. Nuntaporn Komonsittivate says that, while tourism is slowly improving since the easing of entry restrictions, airlines are still struggling. “The airline business has grappled with the pandemic for more than 2 years. Oil prices account for 30% of operational…
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Mixed fortunes for Thai Airways but nation’s flag carrier confident of financial take off
Financial figures released yesterday by Thai Airways International revealed mixed fortunes for the Bangkok-based airline. Thailand’s flag carrier airline declared a net loss of nearly 3.4 billion baht on revenue of 11.2 billion baht in Q1, an improvement on the 11.2 billion baht net loss from the same period last year, but on the positive side the company also noted…
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Thai aviation industry says international flights at only 20% of pre-pandemic level
The Thai Airlines Association says that in the first 4 months of this year, domestic flights have returned to nearly 100% of their pre-pandemic level. However, international flights have still only reached 20% of pre-Covid-19 levels. TAA president, Putthiphong Prasatthong-Osot, says the lifting of some travel restrictions has led to an increase in passenger numbers, but adds that it will…
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Why Investors Spend Millions on Virtual Real Estate
Designer furniture, floor-to-ceiling windows, sun terrace, infinity pool – a few weeks ago, the Mars House luxury estate was sold for more than half a million US dollars. A bargain, one might think, given the rising prices on the real estate market. But the house does not exist physically, but purely digitally. You can only walk through it in augmented…
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Nightlife venues in “blue zones” want permission to re-open from June 1
Thailand’s nightlife venues are demanding to be allowed re-open for business in “blue zone” tourism areas from June 1. According to a Bangkok Post report, the proposal is one of several being submitted to PM Prayut Chan-o-cha today. Sa-nga Ruangwatthanakul from the association of Khao San Road business operators says the proposals are being put forward by over 10 associations…
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Strict Covid-19 rules make companies in China think about moving investments
Now that 43 cities in China are under either full or partial lockdown, more and more European companies in the country are seeking to move their investments. The European Chamber of Commerce in China announced today that nearly a quarter of respondents on a survey were considering moving current or planned investments out of China. 92% of the respondents say…
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Is Lazada coming to Europe?
Lazada might be coming to Europe! In efforts to target local European vendors, Alibaba Group reportedly plans to expand its Southeast Asian arm, Lazada, to Europe. Sources that told Reuters the news did not specify which European countries Lazada intended to expand to. Lazada is commonly known as an Asian version of Amazon. The sources said an overseas commerce head…
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More than 2,000 locals queue up to claim Covid-19 insurance after companies go broke
More than 2,000 Thais queued up at Suan Lum Night Bazaar Ratchdapisek in Bangkok to claim money from their Covid-19 insurance. Thais use the phrase “Found-Paid-Done” for the collection of insurance monies owed to them. The office of the Thai Insurance Commission is adjacent to the Suan Lum Night Bazaar. Some people had slept in front of the building for…
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Economic aftershocks of Russia’s invasion on Thailand’s economy
Nearly two months after Russian President Vladimir Putin decided to invade Ukraine, countries across Asia are bracing themselves for rising inflation and supply chain disruptions, following increasing sanctions on the Russian state. According to experts, the most affected country in Asia is Thailand, where commodity trading with its European counterpart has become almost impossible. Different types of commodities traded and…
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6 Reasons Why Expats in Thailand Need a VPN
White-sand beaches, warm sunshine, and delicious food. Living in an exotic country like Thailand can help you achieve the lifestyle you always wanted. Nevertheless, as an expat (a person who lives and works in a foreign country), you have to be aware of the cyber threats you may face. Phishing emails, data breaches, compromised passwords – there are only a…
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Director of Betong Airport transferred to inactive post
Oh dear, it all looked so promising… Following on from Nok Air’s declaration that it was suspending services to the newly-opened Betong Airport due to low uptake, the airport’s acting director has now been sacked. According to a Nation Thailand report, Duangporn Suwanmanee was removed from her position just 4 days after Thai PM Prayut Chan-o-cha arrived on the airport’s…
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Bangkok instant noodle shop draws thousands of teens
A Bangkok instant noodle shop that opened in October last year has drawn thousands of teenagers since its opening. The shop, called Good Noodle, is stocked with noodles from Indonesia, South Korea, China, Taiwan and Hong Kong. Good Noodle doesn’t just sell noodles, though. It also allows customers to to prepare their meals and eat there, even though the noodles…
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Fast-food chain A&W to close all branches in Thailand following huge Covid losses
The American fast-food giant A&W looks set to close all 26 branches in Thailand as the economic fallout of Covid-19 takes its toll. According to a Nation Thailand report, Global Consumer Plc, which owns the Thai franchise, is seeking board approval to close all branches in the kingdom. Global Consumer’s annual report shows that last year alone, A&W outlets in…
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Mario Kleff designed the longest steel box girder used in residential construction in Thailand
It was early March 2022 in Pattaya when the delivery of 50 tons worth of custom fabricated steel, in the form of box girders and cellular beams arrived at the Majestic Residence construction site, Khao Phra Tamnak. The architect Mario Kleff and his construction company Wandeegroup Asia Co Ltd continue to set new standards in residential construction in Pattaya and…
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Paypal will still work in Thailand until the end of the year
After Paypal warned of suspending its services in Thailand starting March 7, the company announced yesterday that it will in fact keep providing services in the country until the end of the year. Paypal had warned it would close services in Thailand after Thai authorities wanted it to verify all users’ identities, in order to prevent money laundering. But now,…
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MP questions submarine purchase from China, says it will be delivered without an engine
A MP from the Pheu Thai Party claims that the submarine that the government recently brought from China will be delivered without an engine after issues with a German supplier. The MP, and also Pheu Thai party leader, Yuttapong Charasathien, is criticising the 12.42 billion baht submarine purchase from a Chinese firm, saying the “deal lacked transparency”. Yuttapong says the…
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Global Electric Vehicle sales up 109% last year
In new research on the global electric vehicle market, Canalys estimates that 6.5 million electric vehicles (EVs) were sold worldwide in 2021, up 109% on 2020. EVs include fully electric and plug-in hybrid passenger cars. The total global car market grew just 4% in 2021 as it continued to struggle with Covid-19 restrictions and chip shortages. EV sales represented 9%…
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The tale of two Covids – the world diverges
OPINION There are two Covid conversations going on at the same time, depending where you live in the world. In one Covid universe, countries are lowering restrictions, reopening borders, letting their citizens walk around with out face masks and, generally, get on with things. In the parallel Covid universe, countries are gingerly re-opening their borders but still with restrictions, expensive…
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