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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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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Thai Airways considers reviving stored A380s to meet rising demand
Thailand’s flag carrier Thai Airways International is considering expanding its fleet by reviving two Airbus A380 aircraft stored away for years to meet the rising demand for flights. The airline is “studying closely” the cost-effectiveness of restoring the planes and has not yet committed to a decision, says Airline Commercial Chief Korakot Chatasingha. “As you know, to bring them…and return…
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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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Rich rewards offered for info on currency counterfeiters
With large numbers of fake banknotes now circulating in Thailand, especially in the north of the country, the Digital Economy and Society Ministry Saturday announced a counterfeit rewards system for those canny enough to spot the fakes and turn them in. If you come up with information on counterfeit banknotes, you can expect to be rewarded with up to 100,000…
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Thai transgender entrepreneur buys Miss Universe Organisation for US$20 million
A Thai celebrity, businesswoman, trans rights activist, and beauty queen bought the Miss Universe Organisation for US$20 million yesterday. Jakapong “Anne” Jakrajutatip is the first woman to own the company – formerly owned by Donald Trump – in its 71 year history. Anne is a transgender woman famous in Thailand for starring in Project Runway and Shark Tank. She is…
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Do business smoothly in Thailand with BizWings accounting firm
Sponsored Meet BizWings (Thailand) Co Ltd., an accounting firm ready to support you and set you up for success in doing business in Thailand. It doesn’t matter whether you’re just starting out, have an established company, or you’ve been around the block a few times. Being a foreign business owner in Thailand, you will be faced with numerous problems. One…
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It’s in the jeans – Iconic pants mined from rich seam of racism
When a pair of filthy old Levi’s blue jeans dating back to the 1880s was found in an abandoned mine in the former Wild West by self-described “denim archaeologist” Michael Harris, he knew immediately they were something special. The vintage pants were sold at Durango Vintage Festivus, a four-day celebration of denim on the outskirts of Aztec, N.M. for $87,400…
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Centi-millionaires: how rich is REALLY rich?
Are you rich? Super rich? The world’s first global study on the ultra-rich found a surprising amount of centi-millionaires – people with more than US$100 million in investible assets. A startling 25,490 of these super wealthy and powerful people pepper the globe. The number of heirs, CEOs, tech gurus and finance moguls worth over $100 million doubled amid a period…
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BOT to mount rescue of crumbling baht
The Bank of Thailand (BOT) is attempting to steer the baht and the economy through some tricky times. As the government is apparently out of ideas to jump-start the economy due to high debt, the responsibility has fallen to the central bank. The central bank’s recent move to raise the key policy rate by 0.25 percentage points to 1% has, however,…
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Thai Airways is recruiting a new CEO
Debt-ridden Thai Airways is looking to hire an “ethical” Chief Executive Officer to steer the airline in the flight direction. After a year without a CEO, the nation’s flag carrier posted a job advertisement on LinkedIn looking for a highly-qualified aviation expert to take on the tall order of getting THAI back off the ground. THAI needs a leader who…
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Marketing in Thailand as a Foreigner: Volume #2.1 Ad Campaign Crossroad: Global Materials vs. The New Investment
Sometimes, It’s Okay to Wear Socks and Sandals Foreign marketers sometimes need to be bold enough to wear socks and sandals in a tropical country like Thailand to stand out. If you wonder why: READ HERE. I have no space for rewriting all this; otherwise, you would think this article is too long, but it is already long enough that…
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International money transfers made fast, secure and transparent with DeeMoney Neo App
Sponsored With the pandemic boosting the global digital economy and accelerating cross-border payments, people are constantly looking for hassle-free modes of transaction. However, finding the right and trustworthy financial service can be challenging due to cumbersome procedures and money lost to hidden charges and exchange rates. DeeMoney, Thailand’s #1 Fintech specialising in cross-border payments, aims to address these pain points…
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Thailand’s MICE industry continues to flourish
Thailand’s resurgence in the Meetings, Incentives, Conferences, and Exhibitions (MICE) tourism industry continues to flourish with over 100,000 gatherings recorded this year. The Thailand Convention and Exhibition Bureau (TCEB) reported the nation catalogued about 69,000 arrivals of groups coming from abroad between April to June 2022. The TCEB estimate over 4,000 MICE arrivals this month and predict about 31,000 more…
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Yell signs a collaboration agreement with BACON Singapore and SOUNDS Shanghai
Press Release Yell, an independent agency, has partnered with Singapore’s Bacon Creative and China’s Shanghai Soundsplan Marketing & Planning to expand the organisation’s global reach through partnership creation. This enhances Yell’s ability to serve Asia-Pacific customers and transform into the first Thai agency with an international network. Dissara Udomdej, Yell’s founder and CEO, said, “Yell has developed a more entity…
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Thai Airways sells five Airbus A340s stored away for 13 years
Thai Airways (THAI) has found a buyer for five dusty Airbus A340s which have gone unused for 13 years. Thailand’s flag carrier has sold one A340-500 and four A340-600 planes for a total of 350 million baht. The transaction is sure to help THAI on its road to financial recovery since the Bankruptcy Court approved a debt restructuring plan for…
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Southeast Asia startup struggles at heart of this year’s Techsauce Global Summit
Press Release Startup funding, investor confidence and growth were just some of the pain points addressed at this year’s Techsauce Global Summit, which took place at ICONSIAM, Bangkok on the 26 and 27 August. The conference, which is back in physical form following a three-year hiatus, saw over 10,000 attendees, 1,500 startups and 300 speakers in attendance. Techsauce Global Summit acts…
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Importance of trading only with regulated brokers
Investing boils down to making decisions. Good decisions can bring rewards in the form of profits, whereas bad decisions can be very risky and lead to losses. For every investor that wants to trade financial assets online, choosing a brokerage company is one of the first decisions that has to be made. Brokers provide a gateway to the world of…
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Opposition to foreign land ownership in Thailand
The government scheme to allow foreigners to buy one rai of land may have been met by enthusiasm in the expat community but not everyone has welcomed the idea. The Interior Ministry’s proposal to allow foreigners to own a bit of land if they invest 40 million baht is seen by many as a short-term fix to the kingdom’s economy…
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How can young drivers reduce their car insurance premiums?
SPONSORED Being a young driver is an incredibly exciting time. It’s a coming of age where you score one of your biggest achievements to date and gain a whole new level of freedom and flexibility. Of course, as exciting and life-altering as it is, one thing that can put a new driver off of the experience, is the fact that…
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Thai Airways’ revenue finally takes off
Thai Airways’ July progress report reveals a promising outlook for Thailand’s flag carrier, which expects to exit its financial rehabilitation plan earlier than planned. The airline’s revenue has shot up due to increased passenger traffic, but cutting costs, selling stock, and chasing debts have been Thai Airways’ secrets to getting back on track. After improving its performance, Thai Airways submitted…
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Wealth decreasing among top 50 richest in Thailand
While the wealth of the 50 richest people in Thailand has fallen nearly 6% to a collective US$151 billion, Forbes Asia has announced at the top 10 richest people in the country remain in mostly the same ranking. Charoen Pokphand Group’s Chiaravanont brothers saw their wealth decrease by nearly US$3.7 billion this year but still remain the richest in Thailand…
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Thai hospitality sector opposes dual accommodation pricing
Many hotels have voiced their opinions over the government’s proposal to adopt dual pricing in the hospitality industry. They described the plan as “impractical” and asked that the government come up with promotions and campaigns to boost tourism instead. A government spokeswoman said yesterday that hotels would be expected to adopt a dual pricing system where Thais would continue to…
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Thai PM promises to accelerate Thailand’s electric vehicle future
The Thai PM wants to cement Thailand’s reputation as the biggest SE Asian hub for car manufacturing, and electric cars too. Currently Thailand is the world’s 10th largest manufacturer of vehicles (OICA 2021). Some of the world’s leading automobile manufacturers – Honda, Toyota, Mitsubishi, Nissan, Suzuki, Mazda, Mercedes Benz, Ford, Volvo and BMW – have manufacturing plants in Thailand. Last…
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Thai state bank offers loans to LGBTQ+ couples for first time
Thailand’s state-run Government Housing Bank has taken a progressive step forward by offering mortgage loans to couples in the LGBTQ+ community. The move by the Bangkok-based financial institution could lead the way forward for more change, such as same-sex marriage in Thailand, after the bank’s pioneering move made it easier for the Thai Pride community to own their own home.…
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Phuket’s Central Patong shopping mall plans reopening and recruitment drive
Central Patong shopping mall in Phuket is launching a large-scale recruitment drive on the back of plans to reopen after a year of closure due to the pandemic. Central Department Store, the managers of the shopping centre, informed stores in the Central Patong shopping mall of the temporary closure on February 1 last year. But on Saturday, the Thai department…
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UPDATE: Fraudulent Japanese restaurant owner denied bail
UPDATE: Fraudulent Japanese restaurant owner denied bail The court denied the owner of Daruma Sushi’s request for bail this afternoon after he was arrested by police at Suvarnabhumi Airport yesterday. Police say “Metha” has caused millions of baht in damages and has countless allegations against him. The 39 year old owner of Daruma Sushi – Metha Chalingsook – got into…
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UPDATE: Police arrest fraudulent Japanese restaurant owner at Suvarnabhumi Airport
UPDATE: Police arrest fraudulent Japanese restaurant owner at Suvarnabhumi Airport Today, Thailand’s Central Investigation Bureau arrested the fraudulent owner of Daruma Sushi, a famous Japanese restaurant chain, at Suvarnabhumi Airport. “Metha” returned to Thailand today having fled to Dubai in the UAE on June 16, after he received over 500 complaints from unhappy customers and staff. Police said Metha caused…
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How do you pay for online casinos in Thailand?
Despite ‘mostly’ being illegal in Thailand, gamblers and entrepreneurs alike are finding smart and innovative ways to circumnavigate the laws. The use of VPNs makes almost anything impossible, possible when you’re online, and it’s no different when gambling! What was once a relatively niche part of the overall gambling industry, online gambling has grown to be by far the most…
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Thailand offers 5-year income tax exemption for foreign actors
The cabinet approved a 5-year personal income tax exemption for foreign film stars who earn income from foreign movies shot in Thailand. The government revealed they wanted to attract more film crews and expected the movie industry to generate about 17.5 billion baht over those 5 years. The PM’s Deputy Spokesperson, Ratchada Thanadirek, says that the government wants to encourage…
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