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 Boost your business in Thailand: 5 powerful benefits of using BoostedByPeople
As a business owner in Thailand, you know how tough it is to stand out online. Ads get skipped, scrolled past, or flat-out ignored. People are more sceptical than ever about what they see on their feeds. And even when...
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Easyrice transforms Thai rice industry with AI-powered inspection solutions
Emerging from academic research projects, Easyrice Digital Technology Co Ltd has grown into a cutting-edge tech startup focusing on artificial intelligence (AI) within the agricultural sector, specifically tailored towards bettering the rice industry in Thailand. Easyrice provides AI-powered solutions designed to simplify and enhance the systems of rice quality inspections and data management, offering faster, more precise processes. As a…
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Prachinburi print shop overcharges customer, shocking Internet
A disheartening incident unfolded when a woman was charged 500 baht for scanning four documents, at a print shop in the area of Ban Rabao Phai, Sri Maha Pho District, Prachinburi. The shop owner extended his apologies due to a lack of knowledge about appropriate pricing and offered a reimbursement, which the woman declined. Upon scanning the documents, the customer,…
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Bangkok property developers anticipate economic rebound
Bangkok-based property developers on the Stock Exchange of Thailand are optimistic about an economic bounce back in the latter half of the year, expecting it to help meet their annual performance targets after a subdued start to the year. Property Perfect Plc., under the management of Wongsakorn Prasitvipat, is set to launch nine fresh housing ventures in the second half.…
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Chinese economic woes dampen bookings for Thai tourism sector
Tourism operators indicated a slowdown in forward bookings from China for the upcoming Golden Week holiday in October due to a challenging economic climate. A representative from the Tourism Council of Thailand, Surawat Akaraworamat, revealed that a sluggish economic rebound and potential deflation are having far-reaching effects on disposable income for prospective tourists from the Chinese mainland. “Travel agents have…
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Foreign investments bolster Thai economy with 58.9 billion baht boost
From January through July of this year, Thailand welcomed a foreign investment sum of 58.9 billion baht. A notable chunk of this influx originated from Japan, whose companies lavished the largest amount of capital on developing their businesses within Thai borders. Estimates suggest that the Japanese investors led the pack with a total outlay of 19.9 billion baht. They were…
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Thailand’s insurance sector embraces digital revolution to boost resilience and consumer experience
Thailand’s insurance sector is adopting digital tech to tackle artificial intelligence (AI) and cyber threats and deal with the medical costs of the nation’s ageing population. Further steps were taken to boost industry strength and user experience. The strategy is headed by the Office of the Insurance Commission (OIC). Suthiphon Thaveechaiyagarn, the OIC secretary-general, disclosed that the first part of…
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Thai baht instability rises due to political unrest
Political unrest is heightening baht oscillations against the US dollar, as Thailand finds itself without a stable government, the head of the Bank Thailand asserts. This turbulence introduces a greater risk factor amongst investors who are observing the foreign exchange rate, particularly between the baht and the US dollar, in light of Thailand’s current political developments. Post Thailand’s General Election…
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Sweet success: Thai fruit exports to China ripe with growth, thanks to fast track on China-Laos Railway
Thai fruit exports to China experienced a significant surge in the first five months of this year, growing by a staggering 365%. This upswing is predominantly accredited to the utilisation of the China-Laos Railway for transit, which has resulted in a significantly reduced delivery duration and leveraged the benefits of free trade deals, according to sources yesterday. The railway route…
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Map Ta Phut port to see third phase by 2027, IEAT confident
Reports from Thailand indicate that the Industrial Estate Authority of Thailand (IEAT) remains optimistic about presenting the third phase of development of the Map Ta Phut deep-sea port in Rayong by the year 2027. The port, a notable part of ongoing development in the Eastern Economic Corridor (EEC), is seen as an essential addition to Thailand’s infrastructure. Map Ta Phut…
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Grab Thailand partners with Alipay, Kakao Pay to appeal to Chinese, Korean tourists
Grab Thailand is entering a strategic alliance with Alipay and Kakao Pay to expand the payment alternatives available to Chinese and South Korean tourists who visit the country, an announcement from the company relayed. As the Thai tourism sector remains buoyant, Grab has identified Chinese tourists as pivotal to its strategy for this year. Worachat Luxkanalode, Country Head of Grab…
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Thailand’s baht leads Asian currency downturn amid China’s economic worry
Asian currencies experienced a downturn yesterday, led by Thailand‘s baht, as concerns heighten surrounding the recovery status of the global economy’s second-largest player, China. The baht plunged by a substantial 0.8%, marking it as the largest depreciation against the US dollar in half a dozen weeks. Across the waters of offshore markets yesterday afternoon, it was changing hands at approximately…
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Fuelling the future: Thailand’s gas giant gears up production to avert power crisis
Efforts to prevent a second power crisis in Thailand are underway as the nation’s primary gas producer, PTT Exploration and Production (PTTEP) Public Company Limited, looks to increase its output substantially. With plans to double gas production in the Erawan field, Thailand’s largest, Montri Rawanchaikul, the Chief Executive Officer, confirmed plans to scale up production to as high as 800…
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Alcohol tax overhaul by Excise Dept planned to close loopholes
The head of the Excise Department announced plans to overhaul the excise tax structure on alcohol and beer, aiming to eliminate existing tax loopholes. Ekniti Nitithanprapas said a formal conversation is ongoing with the private sector to secure an equitable and suitable tax framework. Furthermore, many new beverage entries on the market are technically slipping through the cracks of taxation,…
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Travel industry girds for weak low season amid cost and weather challenges
The travel industry is bracing itself for an exceptionally weak low season, with predictions of stagnant demand, escalating operational costs at popular destinations, and the impacts of tropical storms. The president of the Thai Travel Agents Association, Charoen Wangananont highlighted that the season’s sale rate for outbound packages significantly lags behind the comparison period recorded before the pandemic. He cited hesitancy…
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Central Retail partners with Ant Group to launch Alipay+ for Asian tourists in Thailand
For the convenience of Asian tourists from China, Hong Kong, Malaysia, and South Korea, Central Retail Corporation (CRC) has announced its partnership with Ant Group, introducing Alipay+ a comprehensive solution for international digital payments. This digital offering will enable travellers to use local digital wallets such as China’s Alipay, Hong Kong’s AlipayHK, Malaysia’s Touch ‘n Go eWallet and South Korea’s…
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DSI freezes 220 million baht in Stark Corp leader Chanin’s scandal
The Department of Special Investigation (DSI) has placed a freeze on a staggering 220 million baht held in the bank account of Chanin Yensudchai, the erstwhile chairman of the beleaguered Stark Corp. According to DSI spokeswoman Pichaya Tarakornsanti, the action is part of a broader measure to offer compensation to victims in light of the ongoing scandal. “The DSI has…
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Construction permit withdrawal sparks caution in Thai property lending
The property developer community has been unsettled by the recent Ashton Asoke saga, wherein the construction permit was withdrawn, prompting lenders to proceed with caution when issuing debt instruments and loans to developers. AP Thailand’s chief executive, Anuphong Assavabhokhin, explained that it’s becoming increasingly challenging to secure loans as financial institutions grow wary of extending credit to real estate companies…
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Thailand’s data centre sector poised for explosive growth with global tech titans and cloud nine prospects
In a surge of digital enthusiasm, Thailand’s data centre industry is set to experience substantial expansion within the next two years, thanks to the arrival of worldwide tech giants and cloud service providers. This prediction comes from ST Telemedia Global Data Centres (Thailand) (STT GDC Thailand), a dominant player in hyper-scale data operations. STT GDC Thailand, a fruitful joint venture…
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Thai fruit and coconut exports to China boosted by FTA benefits
The popularity of Thai fruit was evident throughout the initial five months of this year, reflected through the leverage of free trade agreement (FTA) benefits by exporters. Most notably, shipments destined towards China signalled a greater propensity. The Director-General of the Foreign Trade Department, Ronnarong Phoolpipat, highlighted that durian, guava, mango and mangosteen were the favoured fruits amongst Chinese consumers,…
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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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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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CP Foods launches Asia’s first carbon-neutral cage-free egg
To promote eco-friendly eating and animal welfare, Charoen Pokphand Foods Plc (CP Foods) launched a pioneering carbon-neutral cage-free egg in Asia, certified by the Thailand Greenhouse Gas Management Organization (TGO). The move bolsters CP Foods’ dedication to minimising environmental impact. Somkid Wannalukkhee, who leads CP Foods’ egg division, emphasised the company’s commitment towards crafting low-carbon food commodities. He says CP…
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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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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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MICE revenue in Thailand lowered amid sluggish Chinese market response
The meetings, incentives, conventions, and exhibitions (MICE) revenue forecast for the Thailand Convention and Exhibition Bureau (TCEB) has been lowered to 96 billion baht. This is less than half the recorded figures for 2019, mainly due to a sluggish response from the Chinese market. TCEB’s president, Chiruit Isarangkun Na Ayuthaya disclosed that despite the strong comeback of MICE travellers from…
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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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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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