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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MGM Resorts set sights on Thailand that could help attract more tourists
Thailand, which has notoriously steered away from gambling, has started to make moves towards legalising casinos – with the hope that it could put them up there with other famous gambling destinations and attract more tourists to the country. In the past few months, lawmakers in the country have approved a report, meaning that there is a very real possibility…
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AI-created song removed from streaming platforms
An ingenious AI tune impersonating Canadian stars Drake and The Weeknd was removed after causing quite a commotion! “Heart On My Sleeve,” a tune created using artificial intelligence (AI) software to emulate the voices of Drake and The Weeknd, has been causing a right stir. After receiving millions of listens within a short space of time, Universal Music Group (UMG)…
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Record high Netflix subscriptions, imminent password crackdown
Netflix Smashes Records with 232.5 Million Subscribers, and Ad-Supported Tier Going Brilliant Ace stuff from Netflix as they revealed that the number of subscribers reached a staggering 232.5 million in the first quarter, setting some serious records. Not only that, their swanky new ad-supported tier is getting a thumbs up from tv lovers. The streaming titan flexed those financial muscles…
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Musk’s Twitter activities contribute to spreading misinformation
Elon Musk vowed to make Twitter the “most accurate source of information about the world,” yet he has repeatedly used his own account to amplify false claims from some of the internet’s most notorious disinformers, as demonstrated by an AFP analysis of his online activity. Musk’s posts display a penchant for drawing attention to misinformation on topics ranging from the…
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Pepsi Thailand introduces bottles made from 100% recycled plastic
Suntory PepsiCo Beverage (Thailand) will switch to 100% recycled plastic for its 550ml Pepsi bottles, expected to enter the market later this month, under the campaign “Appreciate Fizz: Dare to Change the World.” PepsiCo joined forces with Chulalongkorn University and ENVICCO Co., Ltd. to launch the project, “Pepsi Recycled PET Bottle Campaign.” Pepsi will be the first carbonated drink brand to…
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Thailand’s billionaire trio makes Forbes’ 2023 list of world’s richest
Forbes yesterday released its annual list of the world’s billionaires, and Thailand has its hands in the till with 28 billionaires, three of whom are ranked in the top 150. The list includes Dhanin Chearavanont, Charoen Sirivadhanabhakdi, and Sarath Ratanavadi, whose net worths range from US$12.3 billion to US$14.9 billion. Despite this achievement, the year 2023 proved challenging for the…
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Shake Shack opens for business in Thailand
World-famous New York burger joint Shake Shack opened its flagship Thailand store at CentralWorld in Bangkok at 10.30am today. The first 500 customers at the store this morning were given handcrafted bamboo Shake Shack fans woven by a community enterprise in Ayutthaya, ready for the summer season. The restaurant’s menu offers American classics like burgers, hot dogs, chicken, fries and also…
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Huneety releases solution for talent shortage
Press Release Huneety is a regional HRtech startup headquartered in Bangkok and founded by 2 French entrepreneurs, Simon Carvi, Co-Founder & CEO and Vianney d’Hostel, Co-Founder & COO. Huneety is the combination of “H” for Humans and the word “Unity”. Huneety was born in late 2021 from the acute talent shortage in Southeast Asia, a phenomenon that is expected to…
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No ripple effect in Thailand from US banking crisis, says Finance Minister
Finance Minister Arkhom Termpittayapaisith insists that the recent troubles faced by some major banks in the United States have had no impact on Thailand so far. Arkhom added that the government is prepared to take action in case of any potential volatility that may arise from global markets. The comments were made in response to the recent collapse of Silicon…
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Prime office location for rent in the heart of Bangkok’s thriving Bang Kapi area
Looking for a strategic prime office location to establish your business in Bangkok? Look no further than the SINGHA COMPLEX project in the bustling Bang Kapi area. The recently completed office space on the 18th floor of the tower is now available for long-term rent. The indoor area of the office measures 783 square metres and it is currently unfurnished.…
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Thailand’s top 10 most expensive condos
Thailand is home to 15 condominium projects selling condo units for more than 50 million baht each, according to the Agency for Real Estate Affairs (AREA). Matichon reports that the President of AREA’s Thai Real Estate Research and Valuation Information Centre, Sophon Pornchokchai, revealed on Tuesday that the most expensive condominium unit in Thailand is worth a whopping 887.2 million…
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Thailand woos crypto companies with tax waiver
Thailand‘s Cabinet approved a tax waiver for cryptocurrency firms yesterday. The Cabinet decided that companies raising funds by issuing digital tokens for investment are exempt from paying corporate income tax and value-added tax (VAT), according to a government spokesperson. Once the new tax waiver is implemented, crypto companies can issue investment tokens in Thailand without any tax on primary or secondary…
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Nok Air begins Bangkok-Hyderabad flights
Thailand’s budget airline Nok Air has begun direct Bangkok-Hyderabad flights linking the Thai capital with India’s IT hotspot. A Boeing 737-800 aircraft with 189 Economy Class seats plies the nonstop route from Don Mueang International Airport to Rajiv Gandhi International Airport four times per week. Nok Air begins Bangkok-Hyderabad flights The new route provides Hyderabad, a major centre for the…
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Thai Airways to merge with Thai Smile to ‘reduce losses’
Thai Airways is to merge with Thai Smile to “reduce losses.” The plan is expected to be approved by the end of this year. Piyasvasti Amranand, chairman of THAI’s committee overseeing the airline’s rehabilitation, said the restructuring had been on the cards for a while and had always been part of the plan. “A study about the merger plan is…
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Thai Airways Q4 loss narrows
Thai Airways Q4 profit almost tripled as tourists started to return to the holiday kingdom. The carrier’s net income for the three months ending December 31 rose to 11.2 billion baht (US$300 million) from 4 billion baht a year earlier, chief executive officer Chai Eamsiri said on Friday. Thai Airways Q4 profit to support strong growth in 2023 Operating income…
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Malware and ransomware biggest threat to Thai businesses
Malware and ransomware continue to be just as much of a threat to businesses this year as last, according to a cybersecurity firm FortiGuard Labs. The global cyber threat study and research team, found malware and ransomware with sophisticated attack patterns and delivery remain the main threats to Thai organisations. Vulnerability will increase During the fourth quarter of 2022, FortiGuard…
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Thai rubber should tap into the sex toy market, says agriculture minister
Thailand could make a killing if the country’s world-class rubber industry tapped into the sex toy market, according to Minister of Agriculture Chalermchai Sri-on. The minister posted a compelling argument on Facebook which would require a big revision of Thailand’s archaic laws if it came to fruition. The kingdom’s illegal sex industry is hiding in plain sight, sex toys included.…
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Taxes up, bribes down – Palang Pracharath Party wants venues to operate legally
The ruling Palang Pracharath Party’s Chaiwut Thanakamanusorn wants to make it easier for entertainment venues to operate legally. The Minister for the Digital Economy would like to see bars and clubs operate within the tax system, bringing in fiscal revenue and administration fees while reducing the scope for bribery. Chaiwut said on Sunday that Palang Pracharath members had agreed that…
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Small hotels recover in Thailand as foreigners move downmarket
As small hotels recover in Thailand, returning tourists are choosing different options from pre-pandemic staples. A study of small hotels and hostels found booking growth is now higher than before the pandemic, with bookings from overseas tourists exceeding those of local travellers. As small hotels recover in Thailand, bookings are up by a quarter from the pre-Covid levels, according to…
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Thai Airways rehabilitation ahead of schedule
Thai Airways expects to exit its rehabilitation plan ahead of schedule. The airline is already looking for new aircraft as the recovery in global tourism bolsters earnings. CEO Chai Eamsiri said Thursday that the carrier will be able to leave its court-supervised debt plan “much earlier” than the late-2024 target, according to Bloomberg. The company is also in talks with…
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Chem-Dry announces Thailand master franchise availability
Press Release After more than 20 years., Chem-Dry’s master franchise holders in Thailand are ready to sell, creating a rare entrepreneurial opportunity in a market ripe for solid growth. This opportunity represents a unique investment for entrepreneurs looking to start or expand their business portfolio and tap into the rapidly growing cleaning industry in Thailand. Brothers David and Richard Arell…
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Custodied cryptocurrencies to see new regulations in Thailand
Custodied cryptocurrencies will see new regulations in Thailand. The Securities and Exchange Commission of Thailand issued new measures which require companies offering crypto custody services to “establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure the safety of clients’ assets.” The new regulations went into effect on January 16th. The new measures…
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Central Fraud Registry, coming soon to clean up Thai banking
Thailand‘s forthcoming Central Fraud Registry will be a new investigative authority, working alongside the Computer Emergency Response Team, a group of financial institutions focused on cybercrime in the banking industry. The new fraud registry will concentrate on financial fraud in the industry. Thai Banking Association (TBA) chairman Payong Srivanich did not set a time frame for setting up the registry.…
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PM Prayut proud of Thailand’s pineapples
Prime Minister Prayut Chan-o-cha‘s face lit up with joy when he heard that Thailand is the biggest exporter of canned pineapple in the world, according to government spokesperson Anucha Burapachaisri. PM Prayut was “delighted” when the Agriculture Ministry informed him that Thailand holds a 32% share in the global canned pineapple market – the biggest in the world – valued…
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Thaiger Cage hospitality digital pitch event to debut at Thailand Tourism Forum 2023
BANGKOK, THAILAND Leading Thai digital media outlet The Thaiger is launching a new start-up technology pitch event ‘The Thaiger Cage’ on 16th January 2023 at the Conrad Bangkok. It is a special prequel to the Thailand Tourism Forum (TTF) 2023, now in its twelfth year and widely considered to be the country’s leading annual hospitality event The special one-hour pre-event…
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Yell BKK launched ONETOUCH’s special edition package, ‘Amulet of Protection’
Press Release Thailand ranks 2nd in teen pregnancy among other ASEAN countries, and this doesn’t include STDs. ONETOUCH, a Thai condom brand, wants to take part in minimizing the problems by helping recap how to use condoms correctly in an unforgettable way. Beliefs, amulets, wish-washes, and Thai people are inseparable with no gender or age in between. That’s why there…
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An insight into trading stocks in Thailand
Thailand’s growing economy means that promising companies can mushroom over the years. In the next three years, it is expected to grow by around 5% annually. The question for investors however is, if they can trade stocks in the country, to profit from its growth. And the answer is, yes, they can. The Stock Exchange of Thailand, also known as…
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Tesla to launch in Thailand this month
Elon Musk’s Tesla Motors aims to launch in Thailand this month after a period of recruiting in the kingdom. The company will sell electric vehicles (EVs) in Thailand. Tesla registered as a company in Thailand in May this year with an initial registered capital of 3 million baht. The company is releasing two cars initially, the Model 3 and Model…
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PayPal to lock out Thai users at end of month
Most PayPal users in Thailand will be locked out of the service next month unless they jump through a series of complex and quite silly hoops that are intelligible only to Thai citizens. After a year of nothing but statements, PayPal told customers this morning that they cannot use the service after December 15 unless they take “certain actions” that,…
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Thailand pulls the plug on foreign land ownership regulation
The Thai government has already pulled the plug on the draft ministerial regulation that would open up new foreign land ownership options in Thailand. The regulation proposed allowing foreigners who hold a 10-year Long Term Resident visa to buy a property and/or land of up to one rai in Thailand, given they invest a minimum of 40 million baht into Thailand…
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