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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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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A Mandarin for Phuket
PHOTO: The Mandarin Hotel Sanya Island One of Asia, and the globes, leading luxury hotel brands, Mandarin Oriental has inked a deal for a Phuket property. Mandarin Oriental, Phuket will be located on one of the undeveloped beachfront sites still to be found on ‘Millionaire’s Mile’ on the west coast of Phuket island. It will occupy 9.5 hectares of land in…
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Phuket has Golden future for its sister city
by Chongchit Buchanan Australia’s Gold Coast city and Phuket will sign a letter of intent to establish themselves as sister cities tomorrow (September 10). The intent of the agreement is to explore a stronger relationship between the two municipalities and create international business opportunities. Gold Coast Mayor Tom Tate will travel to Phuket to sign the agreement with his Phuket…
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Chinese setting up shop in Chiang Mai
by Jintana Panyaarvudh The charm and beauty of Chiang Mai, the capital of northern Thailand, has made the province not only a must-see destination but also a golden nest for foreign investors – especially Chinese seeking business opportunities. Take Chinese entrepreneurs like Cherry and Zong Dan, for example. Having fallen for Chiang Mai’s charms, they opted to start their first…
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Thailand emerging as a regional blockchain leader
While United States regulators are still trying to figure out how to think about cryptocurrencies, Thailand’s government is already mapping out its own central bank digital currency. Tech Crunch says this is just one of numerous examples how Thailand has emerged as one the most interesting cryptocurrency and blockchain countries in Southeast Asia during 2018. The Thai government has become increasingly…
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Pattaya attracting major government and international brand investment
As part of Pattaya’s make-over to attract high-scale tourism back to the popular seaside city, some of the biggest names in local and international leisure, retail and sport are putting their money down to invest in the region’s future. And the Thai government is investing heavily too as part of its commitment to rebrand the area and bring it up…
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Goodbye e-commerce, hello ‘new retail’
PHOTOS: Alibaba Group Our lifestyles are quickly evolving as the digital age kills off the ‘old’ and the ‘new’ inexorably creeps in to our daily life. Goodby Kodak and Polaroid – hello smartphone cameras and Facebook. Goodbye newspapers – hello instant news websites, blogs and live-streaming. The same is happening to retail as the shopfront moves to websites and screens…
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Sony’s new Xperia XZ2 Premium with ultra-high sensitivity dual camera
ADVERTISEMENT Sony Thailand steps up its game with new smartphones introduced to compete offerings from some of the Chinese companies as well as Samsung and Apple. Sony have announced the new XZ2 Premium, which has one of the most remarkable cameras ever integrated into a smartphone. The new phone boasts the world’s highest ISO 12800 sensitivity for video recording in…
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Invacio Research Analytics: Pushing the boundaries of artificial intelligence and embracing cryptocurrencies
Newly established in Phuket, Invacio Research Analytics, a group subsidiary of Invacio founded by William J D West and led by Linleeya West (Thai/Swiss educated), are bringing Artificial Intelligence to Thailand and also bridging the gap between established currencies and the emerging world of cryptocurrencies. Through a sister subsidiary company, Invacio AAP Holdings (Seychelles), under the Invacio umbrella are all…
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Thavorn Hotels & Resorts receives Thailand MICE Venue Standard Award
Thavorn Hotels & Resorts is proud to announce its certification of Thailand MICE Venue Standard (TMVS) by Thailand Convention and Exhibition Bureau (TCEB). The certification assesses venues in three key areas – physical, technological, and service requirements. Certified venues appear on an Approved List and are publicised worldwide as venues that meet international standards. MICE – Meetings, Incentives, Conferences and…
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Blue Tree Phuket appoints hospitality ace as GM
Blue Tree Phuket has announced the appointment of Michael Ayling, a veteran of Phuket’s hospitality scene, as its general manager. Having worked in a consulting capacity on the project for the past 24 months, Mr Ayling now takes the reins to lead the development, beginning with its opening to the public in early 2019. The UK-born leisure industry professional brings…
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AI company invests 350 million baht in SE Asia – opens office in Phuket
Invacio, an artificial intelligence company, are busy setting up their operations in Thailand as part of their global operations. They are investing up to 350 Million baht in south east Asia Invacio Research Analytics, a group subsidiary of Invacio founded by William J D West, has launched in Thailand, led by Linleeya West (Thai/Swiss educated) Linleeya West felt this was…
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Cathay Pacific brings the first A350-1000 to Suvarnabhumi
Cathay Pacific is the first airline to land an Airbus A350-1000 in Thailand and was congratulated by Airports of Thailand (AoT) deputy vice president Kanogwan Kasetsin and customer relations director Anussara Mongsup. Cathay Pacific’s A350-1000, the largest variant in the A350 family, carries 334 passengers in first, business and economy classes. Staff of Cathay Pacific, led by Kendrick Ko, country manager…
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Hilton Phuket Arcadia Resort & Spa announces their new GM
Hilton Phuket Arcadia Resort & Spa have today announced the appointment of Markus Kosch as the new GM. Markus most recently served as General Manager of Conrad Guangzhou in China. Commenting on his appointment, Markus said, “I am excited to have the opportunity to be at the helm of one of the largest resorts in Phuket.” A 22 year veteran in the…
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Thai Airways to end its Samui flights this September
PHOTO: planespotters.net Thai Airways is scrapping its Bangkok-Samui flights from September this year. The airline’s been flying Bangkok to Samui, return, twice a day in a Boeing 737 carrying up to 149 passengers. It negotiated a contract with Bangkok Airways to fly the two flights into Koh Samui, which built and manages the island’s airport since 2008. At the time,…
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Property report tips Phuket property boom
According to Knight Frank Thailand’s research, the Phuket condo market is expected to perform better in line with the brighter economic situation and the growing population of the island. Increasing supply and higher selling prices will be the key drivers, while demand is forecast to improve slightly. The number of launches in Phuket is predicted to increase and Thai developers…
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10 good news stats from today’s economic forecast
The first four months of 2018 have seen the Thai economy surge ahead, Some key numbers were released today about the good news in the country’s financial report card. The value of exports rose 12.3% in April, year-on-year. • This month’s rise in exports is the 14th consecutive month of growth. In April Thailand shipped out 120,000 tonnes of durian,…
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Thai Airways profits up nearly 50% for Q1
Thai Airways International and its subsidiaries have been able to notch up an operating profit of 3,836 million baht for the first quarter of 2018. This represents a 49.4% improvement over the same period last year, despite rising fuel costs. That cashes out as a net profit of 2,737 million baht, still 432 million baht (13.6%) short of last year’s Q1…
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Warnings over cheap cosmetic surgery – Lee’s story
PHOTO: Nine News, Australia Most cosmetic surgeries in Thailand will definitely save you money when compared to the costs in western hospitals. And the vast majority of procedures will go perfectly according to plan with patients broadly happy with their results. But Lee Cameron says she will regret the decision to have cosmetic surgery in Thailand for the rest of…
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South East Asia hotel investor’s summit kicks off in BKK Monday
PHOTOS: seahis.com The largest investor summit for hotel owners and investors in south east asia kicks off in Bangkok May 14 & 15. The event is being held at the Westin Grande Sukhumvit. At this stage the event has 220 registered delegates from 15 countries, representing 60 leading hotels. Organisers say the event will adopt a roundtable format to allow delegates guests…
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5 things to check about your social media in 2018
Social media is going though some upheavals, affecting your numbers, especially the big ‘F’. Alex Runhaar, The Thaiger’s social media svengali, explains the things we need to focus on in 2018 as the social media washing machine swirls around us. https://www.youtube.com/watch?v=Y6T3-XXBGl4&feature=youtu.be
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New 101 villa luxury property heading to Mai Khao, Phuket
PHOTO: Viagens e Férias Global hospitality group Melia Hotels International has signed a new 101 villa luxury property in Mai Khao, Phuket. The developer of the property is the Phuket Villa Group. Each of the hotel villas feature private pools. Slated for 2021, the group will enter the Phuket market with an exclusive luxury resort on the idealic Mai Khao beach, at the…
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Alibaba to invest 11 billion baht in Thailand
Chinese e-commerce giant Alibaba Group has committed to invest a combined 11 billion baht in Thailand in a move that PM Prayut Chan-o-cha says could benefit the country’s small farmers and rural enterprises due to the firm’s expertise in diverse technology. “Jack Ma (Alibaba’s co-founder and executive chairman) told me he does not solely look for profits because Alibaba already…
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Confidence riding high – Thai economy continues to surpass forecasts
Confidence is riding high according to the Joint Standing Committee on Commerce, Industry and Banking. They report that the private sector remains confident about Thailand’s economic growth of 4.5% being maintained as exports and tourism continue to rise. But the Committee warns that the private sector is being spooked by potential fall out from the ramping up of trade disputes…
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Not all cryptocurrencies are the same
By Asina Pornwasin Thai companies wanting to raise public funds via Initial Coin Offerings (ICOs) using cryptocurrencies should be required to follow the strict rules and regulations on Initial Public Offerings (IPOs), currently applied to stocks and other financial instruments, said experts. The cryptocurrency hype in Thailand has stepped up following an announcement from listed Thai firm Jaymart’s J Venture…
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That was 2017. This is 2018. Thai Economy
by Patrick Cooke, Regional Editor for Asia. Rising overseas demand for goods and services pushed Thailand’s GDP towards five-year highs in 2017, with business-friendly fiscal policies and planned spending on infrastructure expected to support further expansion in 2018. The Thai economy improved over the course of 2017, recording year-on-year growth of 3.3% in the first quarter, 3.8% in the second…
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Future of money or a fraud? Deconstructing Bitcoin in the region.
By Asia News Network, NEW DELHI Bitcoin’s popularity in Asia has had a positive influence on other alternative cryptocurrencies such as ethereum and litecoin. Clearly there is a great demand for such digital money, even though its volatility hurts. Asia has reacted both warmly and violently to the rising interest and craze in cryptocurrencies. Asian regulators have either outrightly banned the…
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Cachet comes to Nai Yang
Cachet: The sate of being respected or admired. On December 16, 2017, discerning travellers discovered a new dimension of bespoke lifestyle resort with the grand opening of the Cachet Resort Dewa Phuket. This re-imagined lifestyle resort is set on the shores of Nai Yang Beach, at the north end of Phuket’s west coast, a mere 5 minutes from the international…
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mu Space is awarded 15 year satellite license to assist rural Thailand
mu Space becomes Thailand’s first space technology startup to operate a satellite service after the National Broadcasting and Telecommunications Commission awarded a license for the company. The 15-year license covers the operation of a satellite and provision of satellite-based services until 2032. Speaking on behalf of mu Space, Chief Technical Officer Samathorn Teankingkaeo said his team plans to differentiate mu…
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