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 A World Kindness Day: Spread kindness, prevent illness - Get your 10% discount
With World Kindness Day just two days away on November 13, it’s the perfect time to reflect on how empathy and care can make a real impact, not just in our relationships but in our health, too. This day is...
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Thailand seeks ITU extension for satellite orbital slot until 2025
Thailand’s National Broadcasting and Telecommunications Commission (NBTC) is seeking a one-year extension from the International Telecommunication Union (ITU) to continue using the 50.5° East satellite orbital slot beyond its expiration on November 27. The request is part of a broader effort to finalise the awarding of rights for two unsold orbital slot packages, including the 142° East slot and a…
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Baht-boom fallout: Thai economy in choppy waters after Fed slash
The economy is teetering on the edge as the surging Thai baht causes ripples across the nation. In the wake of a significant rate cut by the US Federal Reserve (Fed), local industries are now urging the Bank of Thailand’s Monetary Policy Committee (MPC) to take swift action. For over a year, the MPC has held interest rates steady, but…
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ETDA unveils new rules to combat subpar e-commerce products
The Electronic Transactions Development Agency (ETDA) implemented new guidelines to tackle the issue of substandard products on digital platforms, particularly focusing on the influx of inferior imported items. The agency aims to bolster regulatory frameworks to boost consumer confidence. Titled Management of the Sale of Products Requiring Standards on Digital Platform Services, these guidelines took effect yesterday, September 22, under…
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Throttle trouble: Thai motorists hit the brakes on new car buys
Thai motorists are hitting the brakes on new car purchases due to economic jitters, revealed in a new report by Differential (Thailand) Co Ltd, a data analytics, technology, and research firm. The 2024 Customer Experience Report, which polled over 2,500 Thai car buyers from November 2020 to December 2022, found that a whopping 70% of respondents intend to buy a…
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DES Ministry to hold banks, telecoms accountable for online scams
The Digital Economy and Society Ministry (DES) is set to amend regulations to hold banks and telecom operators accountable if they are found negligent in addressing online scams, according to DES permanent secretary Wisit Wisitsora-At. Wisit made the new regulation announcement, yesterday, September 19, during the 60 Years of Excellence: Creating Great Leaders, Designing the Future seminar hosted by the…
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Thailand jumps to 7th in global cybersecurity index
Thailand has leapt to seventh position in the Global Cybersecurity Index (GCI) this year, a significant rise from 44th place in 2020, as reported by the National Cyber Security Agency (NCSA). The index, which evaluates 194 countries, is administered by the International Telecommunication Union (ITU). The GCI, with 46 countries, including Thailand, classified as tier 1, measures cybersecurity commitment across…
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Thai hotels back new co-payment scheme amid fraud cases
Hotel operators in Thailand have embraced a proposal to revive the co-payment scheme for hotel expenses, viewing it as a potential boost for domestic spending. However, concerns have been raised regarding 1,400 unresolved fraud cases from the scheme’s previous phases. Tourism and Sports Minister Sorawong Thienthong discussed the matter with Prime Minister Paetongtarn Shinawatra, who agreed in principle to reintroduce…
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Malaysia and Cambodia launch cross-border QR payment system
Malaysia and Cambodia have collaboratively launched a cross-border quick response (QR) payment linkage, enabling consumers and merchants to conduct instant retail payments via mobile applications. This initiative, announced by Bank Negara Malaysia and the National Bank of Cambodia (NBC), aims to enhance the payment experience and expand market reach for over 5 million merchants in both countries, primarily small businesses.…
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UK signs pivotal trade and investment deal with Thailand
The United Kingdom government has finalised a significant trade and investment agreement with Thailand, marking the first such deal since the Labour government assumed office in July. Commerce Minister Pichai Naripthaphan and UK Trade Minister Douglas Alexander signed the enhanced trade partnership agreement in Bangkok yesterday, September 18. The deal seeks to eliminate specific trade barriers, focusing on sectors such as…
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Thailand’s consumer cashflow set to rise above 2019 levels
Thailand’s consumer spending is set to smash past 2019 levels for the first time, fuelled by expected interest rate cuts from the Bank of Thailand and a booming tourism sector, leading analysts reveal. In spite of sky-high household debt, consumer confidence is riding high thanks to a surge in foreign tourist arrivals—a key lifeline for Thailand’s economy, according to BMI,…
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Thailand’s golden rice grain faces storm from strong baht and India
Thailand’s rice exports are teetering on the edge of crisis with looming threats from a strong baht and potential policy changes in India. The Thai Rice Exporters Association has cast a shadow over next year’s outlook, predicting exports might flop below the eight million tonnes mark. Chookiat Ophaswongse, the association’s honorary president, revealed the unsettling news despite unabated flooding wreaking…
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Bangkok Bank gives a healthy boost to Siriraj with 70 million baht
Bangkok Bank Public Company Limited (PCL) made a healthy contribution of more than 70 million baht to Siriraj Hospital through its Bangkok Bank-Siriraj Card Project, reinforcing the bank’s dedication to social responsibility and community support. On Mahidol Day, Pochanee Kongkalai, Executive Vice President and Assistant VP of Customer Banking, proudly presented the cheque for 70,315,053.39 baht to Professor Dr Apichat Asavamongkolkul,…
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MP urges central bank governor to resign over call centre scams
People’s Party list MP Wiroj Lakkhanaadisorn launched a blistering attack on the governor of the Bank of Thailand, urging him to resign if he can’t protect the public from the alarming rise in call centre scams. He slammed the central bank for reaching a “lowest point,” with scammers boldly impersonating officials to trick unsuspecting Thais into transferring their cash. Wiroj…
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Entry Thailand: The portal to paradise
The Tourism and Sports Ministry has rolled out a brand new web portal designed to revolutionise the way foreign tourists access essential services in Thailand. Dubbed “Entry Thailand,” this innovative platform not only features an electronic travel authorisation (ETA) system but also prepares for a future 300-baht fee for incoming visitors. Mongkon Wimonrat, the Tourism and Sports Ministry Deputy Permanent Secretary,…
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Waste not, want not: Thailand tightens reins on dirty paper imports
Thailand’s Foreign Trade Department is cracking down on dirty deals—literally. Stricter import controls on waste paper are in the works to safeguard public health and protect the environment. Ronnarong Phoolpipat, Foreign Trade Department Director-General, dropped the bombshell. The Commerce Ministry has been inundated with reports all year from concerned entrepreneurs. These tip-offs revealed that imported waste paper is ending up…
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Finance Ministry set to cash in: £400bn portfolio gets a stock-over
In a bold new move, the Finance Ministry is gearing up to overhaul its colossal 400 billion baht stock portfolio, hinting at potential sell-offs. This announcement comes straight from Finance Permanent Secretary Lavaron Sangsnit, who let the cat out of the bag. Lavaron, a key player in the State Securities Management and Development Committee within the State Enterprise Policy Office…
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Thailand banks could be forced to share hacking costs
Thailand’s Digital Economy and Society (DES) Minister Prasert Chantararuangthong has thrown his weight behind a groundbreaking proposal that could see commercial banks sharing the financial burden when their customers’ accounts are hacked. Prasert, who also serves as Deputy Prime Minister, publicly backed opposition MP Wiroj Lakkhanaadisorn’s suggestion during a heated House debate. Wiroj, from the People’s Party, argued that banks…
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Whoscares? Scam alert app is here to call out the cons in Thailand
Gogolook, the brains behind the wildly popular Whoscall app, have unleashed a game-changer: Scam Alert, and it’s rocking the scene thanks to a team-up with the National Broadcasting and Telecommunications Commission (NBTC). A whopping 11 heavy-hitter organisations are on board this powerhouse initiative, including telecom giants, police forces, top banks, the National Cyber Security Agency, the Central Investigation Bureau, and…
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National wage committee to finalise 400-baht minimum wage
Labour Minister Phiphat Ratchakitprakarn announced that the national wage committee will reconvene on Friday to discuss the implementation of a 400-baht minimum wage for large employers nationwide starting October 1. The tripartite committee, which includes representatives from employees, employers, and the government, met on Monday. However, all five employer representatives were absent, leaving only the 10 members from the employee…
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Gold rush: Fed’s policy shift sparks record-breaking prices
Gold prices soared to an all-time high today as traders anticipate the Federal Reserve’s first shift towards easing monetary policy in over four years. The price of bullion jumped by up to 0.4%, hitting a peak of US$2,589.03 per ounce during Asian trading hours, today, September 17. This comes after a 3.2% increase last week, with eyes now on the…
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Commerce minister plea: Time to cut the baht and boost the rates
Commerce Minister Pichai Naripthaphan called on the Bank of Thailand (BoT) to slash interest rates and stabilise the baht in a bid to boost exports and prop up GDP. In a policy statement issued today, Pichai slammed the current strength of the baht, which he claims is hitting exports hard. With export growth expected to be sluggish this year, he’s…
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Thailand to revive 300-baht tourism tax to boost revenue
Tourism Minister Sorawong Thienthong reignited plans for a 300-baht tourism tax, which was put on ice by former Prime Minister Srettha Thavisin. The move is set to help rake in a whopping 3 trillion baht in tourism revenue this year. Sorawong, who stepped into his role yesterday, September 16, believes the tax will be a game-changer for the industry. “This…
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Thai business leaders grill PM Paetongtarn on economic rescue
Thai business leaders and economic gurus are turning up the heat on Prime Minister Paetongtarn Shinawatra, urging immediate and long-term strategies to avert an economic catastrophe. Top of their list? Comprehensive debt restructuring, help for the low-income earners, and bolstering small and medium-sized enterprises (SMEs) against the foreign online trading juggernauts. In a dramatic parliamentary session yesterday, September 15, the…
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WHAUP to invest 2.3bn baht in renewable energy projects
WHA Utilities and Power (WHAUP), a subsidiary of Thailand’s largest industrial land developer WHA Corp, is set to invest 2.3 billion baht to bolster its operations and meet the rising demand for water and renewable energy in Thailand and Vietnam. A significant portion of this budget will be directed towards expanding renewable energy, aiming to achieve an electricity generation capacity…
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Accor flies high: Premium brand expansion takes off in Thailand
Global hospitality titan Accor is firing on all cylinders as it accelerates the rollout of its premium brands in Thailand and across the globe. The move is fuelled by bullish forecasts for booming travel over the next decade, with the company setting its sights on high-potential markets such as India’s growing middle class and China’s robust outbound travel scene. Karelle…
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Cluck’s up: Texas Chicken to fly the coop in Thailand after 9 years
In a shock announcement, Texas Chicken has revealed that it will be shuttering all its outlets in Thailand by the end of this month, ending a nine-year run that has left fans of the crispy treat crestfallen. The bombshell was dropped on their official Facebook page, and there was no explanation for the abrupt exit. “It’s time to say goodbye…
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Thailand’s ‘Wellness on a Plate’ campaign serves up health benefits
The Tourism Authority of Thailand (TAT) is cooking up something special! In a bold move, the TAT has launched a dazzling new campaign titled Wellness on a Plate, spotlighting the health perks of Thailand’s eclectic culinary delights. Aiming to marry the nation’s rich food culture with wellness tourism, this initiative promises a feast for both the senses and the soul.…
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Thai-riffic tech boom: Chinese software firms set sights on Thailand
Chinese software companies are increasingly setting their sights on Thailand, recognising it as a key market for digital growth. Many of these firms, mostly small and medium-sized enterprises (SMEs), started by providing cloud-based solutions to Chinese online merchants in Thailand. Their offerings include sales order management, inventory control, and accounting software. In a sign of the times, Chinese food delivery…
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Understanding the costs of renting in Dubai: A guide for Thai expats
Particularly for Thai expats who might not be familiar with the local rental market, renting a property in Dubai can provide both an exciting prospect and a challenging process. Dubai presents a wide spectrum of properties, from opulent villas to trendy apartments, but it’s important to grasp the whole range of expenses required outside just the monthly rent. The article…
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Emirates takes luxury to new heights with fragrance collaboration
Emirates is soaring to new heights, unveiling its latest luxury enhancement—a first-of-its-kind partnership with Irish organic beauty brand VOYA. Launching aboard First and Business Class, Emirates teamed up with VOYA to create bespoke Eau de Toilette fragrances, marking a new chapter in its premium travel experience. With sophistication and understated luxury at its core, this exclusive range is VOYA’s first-ever…
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