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 Is cannabis really safe? Here’s what you need to know
Thai society’s views on cannabis continue to change for the better as the industry grows. More and more people are starting to embrace the plant for its medicinal and holistic wellness benefits. But despite growing acceptance, some stigma and perception...
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Private hospitals briefed on new drug prices and medical fee notifications
Internal Trade department officials have briefed representatives of 353 private hospitals around Thailand about the public notification of prices of drugs, medical supplies and medical services to patients are treated at their hospitals. Internal Trade Department Director General Wichai Phochanakit explained that the private hospitals need to notify the public of the prices of drugs separately, not including the hospital…
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Thai Baht hits six year high – 31.05 to the US dollar
The Thai baht has hit a six-year high, reaching 31.05 to the US dollar yesterday after the US Federal Reserve signalled possible interest rates cuts. The US Fed says their monetary easing would be in response to increased economic uncertainty and a drop in inflation expectations. The Thai currency is forecast to keep trading in a range of 31.15 to 31.25…
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Where to post all of your job positions: Completely free!
Recruitment can cost you more than you realize. You do not want to sacrifice candidate quality, but you don’t wish to spend too much time and money to find them. All types of employers are searching online for platforms they can use to post their job positions for free. From social networking websites to job boards, there are many ways…
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Tesco looks to open 750 new convenience stores in Thailand
by James Davey, Editing by Paul Sandle Tesco, the UK’s largest retailer, has announced that it could grow its business in Thailand by opening 750 new convenience-style stores. There are currently1,583 Tesco stores in Thailand. Tesco’s Asian investment plunge will likely target the Chinese and South Korean markets as well. The Thai subsidiary, Tesco Lotus, was the first western supermarket to set…
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Bangkok to Hua Hin van operators blame Prayut but passengers say the service was “terrible”
PHOTO: NewsBeezer A minivan service from Bangkok to Hua Hin has been forced to conclude services by the end of June. “June and James Transport” are blaming the military government and NCPO leader Prayut Chan-o-cha. But Manager Online says reviews from customers shed a different light on the story saying the service was “terrible”. Customers say the vehicles were terrible…
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True Digital Park opens in Sukhumvit 101 Road, Bangkok
Under the concept of ‘One Roof, All Possibilities’, the new True Digital Park is now ready to support the country in driving the digital economy. The “Work Space” is a workplace and digital innovation development space. The True Digital Park says they will collaborate with government agencies, enterprises and global tech giants including The National Innovation Agency, Digital Economy Promotion Agency,…
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Administrative Court rejects private hospitals’ plea to remove caps on pricing
Thailand’s private hospital sector has failed to win respite from an order controlling their medical prices, after the Supreme Administrative Court turned down their request. The court made the decision saying that the order will not cause irreversible damages to the hospitals even though an injunction has not been issued yet. The Private Hospital Association, together with 42 private hospitals,…
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SCB report says political instability will dampen economic confidence
The question over stability of the new government continues to dampen economic outlook, despite the recent sittings of Parliament and the formal election of a new prime minister – this according to a new economic outlook report. The report by the Siam Commercial Bank’s Economic Intelligence Centre says that the new government will face difficulty in balancing the interest of each…
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Private sector waits for new economic ministers to raise investor confidence
The private sector says they’re waiting to see the new ministers emerge from the current negotiations that will be in charge of economic portfolios, who may raise the confidence of investors. Meanwhile, the Consumer Confidence Index was at 77.7 in for the month of May, the lowest in 19 months. Thanawat Pholvichai, director of University of the Thai Chamber of…
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Facing headwinds in 2019, Thai economy looks better for 2020
The Thai economy is projected to grow 3.8% in 2019, slightly below last year’s 4.2%. The main reason is slower growth in the global economy. thailand-business-news.com reports that this is likely to lead to a deceleration in Thai exports and tourism, which will impact domestic consumption. But the report says that foreign direct investment and government stimulus measures could prop up…
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Final design for Phuket Light Rail wrapped up next week
A final design of light rail (tram) project in Phuket should be concluded by next week as a dispute over how the rail structure will be laid is close to being settled. Deputy Transport Minister Pailin Chuchottaworn says recent talks have been focussing on the design of tram track construction along some of the densely populated areas from the airport…
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Is Airbnb taking over the Thai hotel industry?
Airbnb is posing a less significant threat to hotels in Thailand than expected, but its influence in the longer term should not be underestimated, according to real estate company JLL Offering new alternatives to travellers, Airbnb is certainly taking some of the wind out of the sails of the traditional hotel accommodation model. However, findings from Jone Lang Lasalle (JLL) shows…
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Nation Multimedia Group takes legal action over alleged copyright violation
The Nation Multimedia Group is filing criminal cases against two media monitoring service companies for violation of its copyright. NMG’s subsidiaries Krungthep Turakij Media, Nation News Network and Kom Chad Luek Media, as plaintiffs, filed criminal cases with the Central Intellectual Property and International Trade Court on April 9 against iSentia Bangkok and iSentia Monitoring Services (Thailand). The two companies…
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Where are Thai’s heading for this summer holidays?
Thai travellers who are booking through Airbnb are discovering new ‘off the beaten track’ destinations. Globally, Airbnb identifies some of the top trending destinations based on percentage growth in bookings during the same time last year *. And when we say growth, we mean mega growth! The top choices are: • Valenciennes, France (704%) • Changsha, China (695%) • Matsudo, Japan…
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And then there were three. Bidding for Airport duty free concession.
Only three Thai bidders – King Power Duty Free, a consortium led by Bangkok Airways, and a bid by Royal Orchid Hotel – remain in play as the companies attempt to win the licence to run duty-free shops at the Phuket, Chiang Mai and Hat Yai international airports. The Central Department Store bid has formerly dropped out of the bidding…
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Phuket’s new town planning code will radically change island
Thailand’s Department of Public Works and Town & Country Planning is finalising sweeping new development regulations for Phuket. The island’s MICE industry is expected to be a big winner from the proposed changes (more below). In April the draft regulations were issued for public comment and it is expected the new set of rules will come into effect over the next…
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Thai Smile joins Star Alliance as ‘connecting partner’
Thai Smile Airways, the budget offshoot of Thai Airways, will become the “Connecting Partner” in the Star Alliance, the world’s largest airline network. Customers travelling on an itinerary which includes a transfer between a Star Alliance member airline and a Connecting Partner will be offered standard alliance benefits, such as the issue of a boarding passes for connecting flights at…
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Thailand’s export growth expectations revised down to just 3% in 2019
“Export trends are aligned with global sentiment and the outlook for other Asian countries, making export prospects murky because of the escalating trade war.” The government is massively revising down their export growth targets to just 3% this year from an earlier 8% growth estimate. Deputy PM Somkid Jatusripitak is blaming the global economic slowdown, the ongoing trade spat between the…
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Officials demolish 38 year old Kieat Tong Chai market in Bangkok
PHOTOS: Daily News Bangkok officials (BMA) have demolished a market built to occupy the middle of a road in Din Daeng district following 38 years of disputes. The Nation reports that Din Daeng district office director Panchapat Lakdee says they’ve demolished the Kieat Tong Chai market to make more space for motorists in the middle of Soi Pracha Songkroah 38…
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Risland plans new developments in Bangkok and Phuket
PHOTO: Artist impression of the new Cloud Thonglor-Phetchaburi Hong Kong-based property developers Risland Thailand say they will spend 8 billion baht launching five residential projects in Bangkok and Phuket. The investment budget of 8 billion baht is an increase from 5 billion in 2018 and 3 billion in 2017, the first year Risland operated in the country. From June to…
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Beam me up Phuket – new space theme hotel for the island
A 150 key space themed hotel is under development in Kathu, Phuket, by a Singaporean group . Located close to the Central Festival and Makro complexes, the project is expected to open next year according to a report in TTG Asia. The One Pioneer – Beyond Space Travel hotel say it’s “highly focused on an outer space storyline and will have…
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25 workers injured after container explosion at Laem Chabang Port
At least 25 port workers have been injured and locals evacuated after an explosion in a container on a ship at dock at the Laem Chabang Port in Chon Buri, east of Bangkok, this morning. Laem Chabang’s port director Vice Admiral Yutthana Mokkhao says an urgent investigation is being undertaken to determine the contents of the container. The Hong Kong ship…
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IKEA Thailand launches full online store
“…it took IKEA about two years to study the market demand, develop the infrastructure, and prepare everything before launching their e-commerce service in Southeast Asia.” by Kwanchai Rungfapairsarn IKEA Thailand has announced the official launch of its IKEA Online Store as it gets set to better provide for individual customers across the Kingdom. IKEA Thailand say the seamless online shopping…
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“Very dangerous” Huawei could be part of a US-China trade deal
President Donald Trump has reiterated his complaints against China’s Huawei Technologies but conceded that they could be resolved as part of a negotiated US-China trade deal. Without providing evidence, he went on to call the Chinese telecommunications giant “very dangerous.” The US has virtually banned firms from conducting business with Huawei, the world’s largest telecom manufacturer, citing unspecified national security…
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WeWork opens up in Bangkok. What is WeWork?
“This will pave the way for WeWork’s unique proposition to connect two major groups within the WeWork community: corporations looking to innovate, and start-ups looking to grow and better establish their business.” WeWork has started operations in Thailand. So what is WeWork? WeWork – a platform for creators that provides space, community and services to help people build a life,…
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Skål International heads to Phuket, June 2020
by Paul Poole Tourism industry professionals from all over the world are expected to descend on Phuket between June 25-27, 2020, for the 49th edition of Skål Asia Congress. With more than 15,000 members in almost 90 different countries, Skål International is the world’s largest organisation of tourism professionals. Through countless local, national and international events, Skål International promotes global tourism…
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Central’s new Suvarnabhumi lifestyle centre set to open late August
PHOTO: Central Pattana Central Village, a new luxury retail outlet situated near Suvarnabhumi International Airport, is 70% finished. Wallaya Chirathivat, deputy chief executive of Central Pattana, says the new lifestyle shopping precinct is scheduled to open on August 31. Central says that retail space in Phase 2 have now opened after Phase 1 of the retail development was totally booked. They report…
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Thailand cuts rubber exports in a four month moratorium
Thailand is cutting rubber exports by 126,000 tonnes next week for a four month moratorium. This is a delay in implementing the supply cut agreement with two other regional producers, according to the Rubber Authority of Thailand. Originally it was agreed that Thailand, Malaysia and Indonesia would cut exports back on April 1, a date agreed by the International Tripartite…
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Air Asia resumes flights from Phuket to Jakarta
AirAsia Indonesia says they will resume direct flights between Phuket and Jakarta on the second of July this year. Flights will be available three times a week. For AirAsia, the move marks a return of the route which had been flown for a number of years in the past. “Currently the traveling trend continues to increase especially in the youth market, hence…
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Export growth expected to be the lowest in four years
Export growth for Thailand this year is is now being pegged at less that 1%, the lowest growth in four years. Mr. Ath Pisarnwanich, director of the International Trade Study Centre at the University of Thai Chambers of Commerce is saying the low growth is a result of both the escalating US-China trade war and the Vietnam-EU free trade agreement. The…
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