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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    5 best restaurants in Sukhumvit with English menu on GrabFood: Tried and tested

    So you’re in Sukhumvit, Bangkok, you want to explore its vibrant food scene and order delivery, but you’re feeling lost in translation? We understand. As an expat living in Thailand, figuring out how to order food delivery can be a...

  • Shopping centres, department stores prepare to reopen tomorrow

    Department stores, shopping centres and larger restaurants, as well as other businesses across the nation, will begin gradually reopening tomorrow after nearly 2 months of closures due to the Covid-19 pandemic and the national state of emergency declared to fight it. The decision to go ahead with Phase 2 of the easing of restrictions was announced yesterday, but has yet…

  • 100 billion baht fund in the works for small businesses

    A pay cheque might be on the way for small businesses that kept paying their employees, despite loss of business from the pandemic. An up to 100 billion baht fund, or 3 billion USD, is planned to be set up to help Thailand’s small businesses, according to Reuters. Deputy PM Somkid Jatusripitak said assistance from the Finance Ministry will be for…

  • Workers claim Chiang Mai’s Dhara Dhevi resort owes 10 million baht in unpaid wages

    A group of 70 workers, representing over 200 employees at a luxury resort in northern Thailand, have filed an official complaint with Chiang Mai’s Department of Labour and Welfare, claiming they have not been paid for 4 months. Thai Residents reports that the workers are all from the 5 star Dhara Dhevi resort in Chiang Mai, which closed its doors…

  • Australian government takes on Google and Facebook over re-publishing ‘news’

    A leading Australian consumer watchdog is calling for Google and other tech giants to pay Australian news outlets A$600 million (12.4 billion baht) a year under a new code of conduct ordered by the government. News Limited and Nine Entertainment have also voiced their support for the news ‘tax’. The Australia government announced plans to force Google, Facebook, and other…

  • Bangkok’s largest international hospital hurts from halt in medical tourism

    The coronavirus outbreak has hospitals across the world at their limits, but at one Thailand’s largest and most famous hospitals, the number of patients has been cut in half. Bumrungrad International Hospital in Bangkok heavily relies on medical tourism. Since the pandemic has ground much of international travel to a halt, Bumrungrad is getting hit hard. 50% of the patients at…

  • The next batch of reopenings in Thailand, coming this Sunday

    We should find out more today about the next raft of re-opening for Thailand’s businesses. The Centre for Covid-19 Situation Administration has been consulting with the private and public sector to make the next move as Thailand reboots its economy in a second phase of re-openings. The Thai cabinet will meet today to discuss the proposals. Dr. Taweesin Visanuyothin says…

  • Businesses banned from shutting down during emergency decree

    Employers have been left perplexed by an order from the Thai Labour Ministry forbidding them from shutting down their businesses during the emergency decree. The same order bans employees from taking part in any industrial action. A report in Nation Thailand says companies that have already closed are being instructed to re-open, and employees advised to return to work, with…

  • Thailand’s hotels face more pain after European tour group asks to defer debt

    Hotels in Thailand, particularly in Phuket and some surrounding regions, have been hit with a double whammy. First the whole Covid-19-related wipe-out, now a cash-flow problem brought about after the TUI Group – an Anglo-German multinational travel and tourism company – has stalled repayments for hotel rooms. The amount owed to Thailand hotels is believed to exceed 2 billion baht. TUI is…

  • Grocery giant Makro to add over 700 jobs

    At last a snippet of good economic news. Thai big-box grocery giant Makro has announced plans to hire more than 700 employees to boost its delivery service and create jobs after the Covid-19 outbreak passes. Siam Makro’s CEO says a new company priority is to help people who’ve lost their jobs due to the Emergency Decree and subsequent lockdown measures…

  • Bangkok’s Chatuchak weekend market is reopening

    Chatuchak, Jatujak, JJ, whatever you choose to call it, Bangkok’s legendary weekend market is reopening tomorrow. The massive indoor/outdoor market, popular with both Thai and foreign tourists, will reopen this weekend after weeks of being shuttered, but visitors will be required to observe physical distancing and wear face masks…. you know the drill. Walaya Wattanarat, deputy permanent secretary of the…

  • Business recovery in the Covid-19 era

    As some countries begin to tentatively look to reboot their economies in a Covid-19 world, what does the future hold for business? Nation Thailand reports today on an extensive Bank of Thailand survey that examined the impact of the pandemic on four business sectors and what might happen next. Things are looking a bit brighter for the manufacturing and retail…

  • May 17 target for shopping centres to re-open

    The rumours have been flying since this week’s cabinet meeting about the next raft of re-openings as Thailand’s economy starts to plod back into gear. Now, after a meeting yesterday of the Centre for Covid-19 Situation Administration, there’s general consensus that shopping centres and retail stores will be able to re-open on Sunday, May 17. Of course the caveat is…

  • Airbnb slashes 1,900 staff to ride out the travel downturn

    Accommodation-sharing online disruptor, Airbnb, says it’s slashing a quarter of its workforce, nearly 2,000 workers, as the Covid-19 pandemic continues to shred the international travel industry. The company said that it plans to soften the blow for former employees with benefits, including providing 12 months of health insurance. Airbnb CEO and co-founder Brian Chesky says the cuts are needed until…

  • Prayut warns Thai Airways that the latest government bailout will be the last

    The Thai PM has issued a stern warning to the executives of Thai Airways that the latest bailout is the last from the government. Last week the Finance Ministry agreed to guarantee a 54 billion baht bailout loan for the ailing airline and a further 80 billion baht recovery loan – both massive amounts of money being given to an…

  • Business winners and losers, and the lumpy recovery

    As we slowly start to emerge from enforced lockdowns, how have things changed? There have been early ‘winners and losers’ but the profound changes to our lives will now start to morph into lingering economic hardships and unpredictable business outcomes. Different countries are going to restart their economies at varying speeds and retain some restrictions and drop others, depending on…

  • Former union leader calls for total overhaul at Thai Airways

    The former president of the Thai Airways union is calling for a complete revamp of the airline, including the ousting of all existing board members. The call follows years of crippling losses, bailouts and promises of a corporate cleanout. The Bangkok Post reports that Chamsri Sukchotrat made the call in a Facebook post, addressing PM Prayut Chan-o-cha in his role…

  • “Thai Airways will survive”. Emergency meeting next Wednesday.

    “Thai Airways will not collapse. The fact that Deputy PM Somkid stepped in to handle the issue means the government will rescue it.” It’s no secret that Thailand’s national carrier has been a financial basket case for over a decade, bleeding money and marketshare as the years pass. The top-heavy Thai company is bailed out by the Thai government each…

  • Airbus pulls the plug on the joint Thai Airways’ maintenance facility at U-Tapao

    Airbus, the European multinational aircraft manufacturer, has pulled the plug on an 11 billion baht joint venture with Thai Airways. The project was to develop a maintenance, repair and overhaul facility at the U-Tapao Airport in Rayong province. The airport also serves the seaside resort of Pattaya. The pull out is a huge blow to the Thai Government’s much hyped…

  • Shock rise in Thai exports

    Defying expectations, Thai exports in March unexpectedly rose by 4.2%, with a total value of around 690 billion baht (22.4 billion US dollars) year-on-year, the biggest expansion in 8 months. The Commerce Ministry reported today that even excluding items like gold, oil, and weaponry, exports expanded 2.12%, For the first quarter of 2020, exports grew 0.9%. Excluding gold, oil and…

  • PM asks public to cool down on selling their gold

    Massive unemployment due to the national state of emergency and the Covid-19 outbreak has pushed gold prices to near a 7 year high, and gold shops throughout the country are running out of cash because so many people are cashing in. In a briefing this week in Bangkok, PM Prayut Chan-Ocha asked the public to show restraint and not to…

  • A golden moment for Thailand’s gold sellers

    The streets of Bangkok’s Chinatown today have been paved with gold… sellers. Today, dozens of Bangkok citizens lined up outside Yaowarat Road gold shops, creating chaos as they tried to sell off their gold ornaments and gold bars after the price gold rose by 550 baht per baht of gold (15.244 grams.) It is reported that this is the highest…

  • Up to 10 million Thais out of work in next three months – CCSA

    As many as 10 million Thais could be out of work in the next few months if the current Covid-19 epidemic drags on. Supant Mongkolsuthee, the president of the Federation of Thai IndustriesGovernment, says the Thai government needs to provide timely support for businesses. As head of the Centre for Covid-19 Situation Administration’s working committee, tasked with overseeing small and…

  • The post-Covid-19 era: Radical changes in Bangkok’s property market

    Property consultants CBRE have come up with their own evaluation of the current Bangkok office market, already getting pounded by regional trends and a high baht, now suffering another challenge – the Covid-19 coronavirus outbreak. They report that this situation will “create another split in our historical timeline – pre and post Covid-19” in Thailand. “At present, people are talking…

  • Opportunities for 2020 export growth in Thailand

    Despite the whirlwind of shutdowns, lockdowns and craziness descending on Thailand at the moment, the departments are still churning out numbers and trying to forecast the way ahead. They say that, due to the Thai baht weakening and massive government interventions around the world for both monetary and fiscal policies, there is still a chance that Thailand could reduce the…

  • Airports of Thailand approves Don Mueang expansion

    Yesterday, the Airports of Thailand (AoT) board gave tacit approval of a master plan for the third-phase development of Don Mueang International airport costing an estimated of 39 billion baht. The expansion arrangements includes, increase of the airport’s capacity to 40 million passengers a year (currently 30 million a year), a 3.4 kilometre automated people mover system (APM), new car…

  • Home alone. Phuket hotels hit a speed bump.

    by Bill Barnett of c9hotelworks.com In the latest news, Singapore’s move to impose a stay-home policy or self-isolation for travellers within ASEAN, has hit the industry hard. Here in Phuket, hotels are winding down their traditional snowbird European business which for the most part was booked well in advance. Rates have somewhat held during this time. One key barometer of…

  • Stormy skies for Boeing as Coronavirus compounds dire situation

    As the world’s Covid-19 cases continue to rise, aircraft manufacture Boeing is watching its stocks slide. From around US$384 a share back in September last year to as low as US$154.84 last week. It’s since bounced back to US$170.20, but a long, long way from its peak. Most of the losses kicked in from mid-February when the extent of the…

  • Amazon cafe suspends ‘bring your own cup’ campaign

    Thai coffee shop chain ‘Amazon’ announced today the suspension of their promotional campaign called “Café Amazon for Earth” which was aiming to reduce plastic waste by allowing customers to bring their personal cup when buying a beverage and receive a discount of 5 baht. The company says the decision to end the promotion was made to increase customers’ awareness to…

  • Thai Airways president and Suvarnabhumi chief resign

    Two of Thailand’s most prominent aviation bosses have thrown in the towel, citing the Thai government’s bungling of the Covid-19 coronavirus situation. Both resignations happened yesterday. The president of Thai Airways, Sumeth Damrongchaitham, resigned yesterday afternoon. That corporate bombshell was closely followed by the resignation of the director of Suvarnabhumi International Airport, Sutheerawat Suwannawat. At this stage the Thai government…

  • Gold mining company found guilty for avoiding environmental report

    Former director-general of the Department of Primary Industries and Mines Somkiat Phuthongchaiyarit, has been found guilty of colluding with five other parties for trying to avoid the mandatory environmental impact assessment (EIA). Secretary-general Worawit Sukboon of The National Anti-Corruption Commission (NACC) says… “All 6 members had a hand in the unlawful approval of a request by Akara Mining Company (or…