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 Phuket workcation: paradise with a side of productivity (is it worth it?)
Dreaming of working remotely under swaying palm trees with the sound of the ocean waves as your background music? Phuket, the "Pearl of the Andaman," beckons digital nomads with its stunning beaches, vibrant culture, and surprisingly good infrastructure for remote...
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Thailand should prepare for global economic slowdown
The global economy is in disarray with no clear direction. This is the stark warning from Supachai Panitchpakdi, former director-general of the World Trade Organisation. He also says that the US-China trade war is having an adverse impact on investor confidence, Investors don’t know where to safely invest, because the trade war could easily disrupt global supply chains, he said. Supachai,…
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Bangkok Airways starts flights to Cam Ranh, Vietnam
Bangkok Airways is the latest airline to signal its intention to fly to Nha Trang beach and the Cam Ranh International Airport, the gateway to one of Vietnam’s popular holiday destinations. Cam Ranh is also an emerging destination in is own right with unspoilt beaches closer to the airport than the popular Nha Trang. Starting on January 25, Bangkok Airways…
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Bank of Thailand ups policy rate to 1.75 percent, first rise in 7 years
The Bank of Thailand has increased its policy rate by 25 points, up from 1.50 percent to 1.75 percent. It’s the first rise in seven years. The Monetary Policy Committee voted 5:2 to raise the one-day repurchase rate to 1.75 percent with immediate effect after the rate was kept unchanged for seven years, noting that the need to depend on relaxed…
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Foreigners will be allowed to serve as arbitrators – NLA votes
The National Legislative Assembly (NLA) has voted to pass the draft amended Arbitration Act in its first reading which will allow foreigners to serve as arbitrators in Thailand. The NLA yesterday voted 139-0 with 2 abstentions to pass the bill amending the 2002 Arbitration Act in its first reading. Deputy PM Wissanu Krea-ngam, who presented the draft bill, told legislators…
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Finance Minister foreshadows slowing economy in 2019
“We expect the GDP growth for 2019 to be at least 4 per cent. However, the economic growth for 2019 is expected to be slower than 2018,” Finance Minister Apisak Tantivorawong predicts Thailand will encounter slower economic growth in 2019,. The Minister cites uncertainty from the trade war between China and the US, the upcoming Thai election and a slump…
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Government poised to cast tax net over online transactions
As the world continues its relentless move online, and away from traditional retail, governments are having to find new ways to track and tax online transactions. The Thai Revenue Department is poised to cast a wider net over online vendors and other businesses that have been evading taxes. The National Legislative Assembly (NLA) is soon to approve amendments to the…
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SHOW DC launches new 60,000 capacity outdoor SHOW DC Arena
Latest event space establishes SHOW DC’s positioning as the events venue of choice in downtown Bangkok with combined capacity of 90,000 Large scale events have a new stage in downtown Bangkok at SHOW DC, which has launched the biggest outdoor event venue in the city. Named SHOW DC Arena, the 120 million baht investment in a 31,790 sqm outdoor entertainment space…
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Minister raises ethical concerns of private schools listing on the SET
PHOTO: Singapore International School of Bangkok Trading in the shares of SISB Company Limited, the manager of the Singapore International School, begins today in the SET’s (Stock Exchange of Thailand) Market for Alternative Investment. The Education Minister Teerakiat Jareonsettasin says that although the move does not violate the Private School Act 2007, there was a question of ethics. The Minister has assigned…
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Hotel #4 for Centara Hotels in Krabi
PHOTO: Centara Grand Beach Resort & Villas Krabi, another of the Centara properties along the Krabi coast Centara Hotels & Resorts, Thailand’s largest hotel group, has just signed a Hotel Management Agreement for a 180 room property on Ao Nang Beach, Krabi. The new hotel will be under its ‘Centara’ brand. Centara Ao Nang Beach Resort & Spa Krabi will…
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Container with radioactive waste being stored at Laem Chabang port
An unknown amount of radioactive waste has been detected inside an export container at the Laem Chabang Deep Seaport, just north of Pattaya, Chon Buri. The port’s deputy director, Vice Admiral Yutthana Mokkhao, says the waste is being kept in the safety zone at the port which is equipped to handle radioactive situation and it is being handled by officials…
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Thailand’s first Apple store opens along the Chao Phraya at the new Iconsiam
The new Iconsiam building is open along the banks of the Chao Phraya along with a stunning new Apple Store, the first in Thailand. One of the features of the new store is the play on the Apple logo which makes it look like a letter of the Thai alphabet, a first such departure for the usually rigorous Apple style-sheet.…
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Thai Airways doubles up on 2017 losses
Thai Airways has doubled up on losses for the past three months (Q3), compared to the same period last year. They’ve reported an operating loss of 3.69 billion baht, up 103% year-on-year. The total revenue was actually up 2.2%, according to a statement from the Thai Airways president, Sumeth Damrongchaitham, but the operating costs were up 1.87 billion baht, compared…
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Central Group set to open new lifestyle mall in Cherng Talay
RENDERINGS: From Phuketify website Cherng Talay has become the new ‘go to’ area with an exciting array of new retail and entertainment options opening up at the end of this year and into next year. Including this one… A new lifestyle shopping mall is set to open by the end of 2019 in Cherng Talay, with Central Group investing a…
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Questions arise about costs of military helicopters
In the wake of the tragic crash of King Power supremo Vichai Srivaddhanaprabha’s personal helicopter last Saturday evening (UK time), an unintended story has emerged about the costs of the model of his helicopter, the same model used by the Royal Thai Army. Srisuwan Janya, a ‘transparency activist’, according to Khaosod English, has dug into the accounts books and found that…
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Chinese investment sets new records in property purchases
The demand for property, especially in Bangkok, continues unabated. Despite a drop off in absolute tourism numbers, enquiries from Chinese real estate buyers remains strong, setting new records. Not only are the Chinese the most frequent tourists to Thailand, they are the most enthusiastic property buyers, stetting a new record for Q3 this year. Number two in foreign investors into…
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Thai Airways apologises for the Zurich-Bangkok stuff up
Thai Airways is promising disciplinary action after an investigation found both the flight captain and the station manager based in Zurich had acted ‘unethically’ in the delayed Zurich-Bangkok flight earlier this month. The Thai Airways president Sumeth Damrongchaitham has apologised for the incident stating the investigation showed that the problems happened due to lack of coordination between the flight captain…
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Technicalbiomed helping to turn Thailand into beauty hub
PHOTO: Warut Suttinan, MD of Technicalbiomed – The Nation “Technicalbiomed” plans to expand its market share in cosmetic surgery as well as in obstetrics and gynaecology segments by turning Thailand into an Asian hub for aesthetics and beauty. Warut Suttinan, managing director of Technicalbiomed, an importer and distributor of aesthetic medical devices in Thailand, said: “Thailand is now recognised as…
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Hackers get into the Cathay Pacific database
Cathay Pacific says they’ve uncovered a data breach where the personal information of more than 9 million passengers could have been stolen. Cathay Pacific has clarified that a wide range of data, including passenger names, dates-of-birth, phone numbers, email contacts and passport numbers, was potentially exposed in a hack of its information systems earlier this year. In a statement the Hong…
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Apple’s first Thailand store opens November 10
We’re ready for the screams of excitement or the howls of derision. But for the fans… Apple’s first store in Thailand is scheduled to open on November 10 at Iconsiam in Bangkok. Apple Thailand has confirmed the date in a statement today. The company said the riverside store could provide inspirations for a lot of people to learn about technology. Apart…
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Panama’s VP backs the Thailand Kra Canal project
PHOTO: Panama’s Vice President Isabel de Saint Malo de Alvarado – The Nation The long-running discussions about a canal, linking the Andaman Sea and the Gulf of Thailand, aka The Kra Canal, has come up again with a visit from Panama’s Vice President. The Panama Canal changed world shipping when it linked the Pacific and Atlantic oceans when it was…
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Thai economy’s growth in 2018 projected at 4.5% – World Bank
Things are looking up for more economic smiles in the Land of Smiles with more positive news coming out of the World Bank. Projections are being revised upward, again. The World Bank says it’s adjusted its projections for Thailand’s economic growth upward, for the whole of 2018, to 4.5%, from the previous projection of 4.1%. The announcement comes from Kiattiphong…
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Pattaya’s hotel performance rebounds as EEC drives positive market sentiment
Domestic tourism growth outshines Mainland China and Russia source business Thailand’s second largest tourism market, Pattaya has pushed through the glass ceiling from the volatility hangover of the 2014 era, with its hotel sector now showing strong signs of rising stability. According to the latest available data, strong demand from the Thai domestic sector accounted for 38% of hotel guests…
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Breakfast in Rome. Dinner in Bangkok.
Air Italy has touched down in Bangkok for the first time as it launches four weekly services into the Big Mango. The company intends to increase services to five weekly by the end of October. Bangkok is Air Italy’s third new international route launched this summer following launches in New York and Miami. It’s the airlines’ first route in Asia. The…
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Bangkok and Phuket on the list of the World’s ‘Top City For Visitor Spending’
According to Mastercard’s annual Destination Cities Index, Bangkok has earned the position as the world’s most visited tourist destination once again in 2017. Phuket also got into the Top 10 list of tourist money magnets. The Thai capital attracted over 20 million visitors over the past year, more than both London (19.83 million) and Paris (17.44 million). But despite scoring…
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Tourism stakeholders commit to plastic-free future at PHIST
PHIST – Phuket Hotels for Island Sustaining Tourism Forum 2018 Leading hotels and tourism groups have signed the “Phuket Pledge” at Phuket Hotels for Islands Sustaining Tourism Forum 2018 (PHIST) establishing a model for the future development of islands throughout Asia that embraces sustainability as a core and sets urgent goals for long-term change. The Phuket Pledge is a commitment…
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Exports rise nearly 7% in August, the highest this year
Thai exports have gown at 6.68% to US$23.8 billion during the month of August, the highest gain so far this year. The announcement from Ms Pimchanok Wornkhorporn, director of Trade Policy and Strategy Office of the Commerce Ministry. Exports for the first eight months of this year rose 10.03% and, for the rest of 2018, are expected to grow 8…
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Phuket now has a world class shopping hub
by Tim Newton The population of Thailand is around 70 million people. I think most of them were at the opening night of the new Central Floresta on September 10. As far as openings go this must have put a smile on the Central owners and management involved in bringing this new shopping experience to fruition – it was a…
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Habitat Group launch Walden Sukhumvit 39
ADVERTISEMENT Following the success of Walden Asoke launched in March this year, and now 90% sold, the Habitat Group is launching its second city centre luxury low rise condominium under the Walden brand – Walden Sukhumvit 39. Developed under the concept of “Low Rise, High Living”, the 950 million baht development embraces nature in its design. With end-users and investors…
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Samsung teases world’s first foldable phone
At least it won’t break when you try and bend it. Samsung are about to reveal some details on the world’s first foldable smartphone at its developers’ conference in San Francisco this November, according to industry sources. Rumors that the South Korean tech company would unveil its foldable phone at the Samsung Developer Conference have been circulating around the world…
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The new Central Floresta is open
10.40am Monday, September 10, 2018. The new, highly-anticipated (by locals) Central Foresta opens it doors for the first time. Opposite the ‘old’ Central Festival, located at the Darasamuth Intersection, the new Central Floresta creates a ‘central’ shopping destination for the island to match anything in Thailand. The new Central Floresta combines the highest-end luxury brands with Peranakan-themed food halls, floating…
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