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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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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Thai Airways – we need more planes
Thai Airways says it’s has lost 10 percent of its market share over the past three years due to a shortfall in available planes. It’s new business plan states that, if the national carrier wants to restore market share it needs at least 125 aircraft, according to Thai Airways president Sumeth Damrongchaitham. The national airline has submitted its business plan…
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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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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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Meliá Hotels International signs up Meliá Phuket Karon
Meliá Hotels International, a leading Spanish hotel company, has announced the signing of Meliá Phuket Karon, the second property in Thailand, followed by Meliá Phuket Mai Khao. Meliá Phuket Karon will be the group’s sixth property in Thailand, continuing their dedication in providing exceptional hospitality with a Spanish touch, to the island’s thriving accommodation market. Scheduled to open in 2021,…
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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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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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Viral posts claim Tesco Lotus is laying off staff and closing stores
A rumor, stating that Tesco Lotus is laying off staff and closing 43 branches around Thailand has gone viral in social media. Matichon Online reported yesterday that social message is saying that… “Tesco Lotus lay off staff around the country. What will they do next and can other staffer handle the pressure.” (Translated) Some people have commented saying…. “…my branch…
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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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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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“Customer is King” – Thai Airways union attacks first class pilots
The Thai Airways International worker’s union has attacked two pilots for demanding first-class seats from passengers in a standoff drama that delayed an October 11 Zurich-Bangkok flight by two hours even as airline executives vowed to reform the national carrier. Airways executives pledged to nurture a “Customer is King” culture, pledging to use the controversy as an opportunity to revamp…
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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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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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Airbnb partners with Thailand Boutique Accommodation Trade Association
PHOTO: Mike Orgill, Airbnb Country Manager for Southeast Asia (left) and Suparerk Soorangura, President of TBAA and Advisor to the Thai Travel Agents Association (right) signing the MoU. Airbnb, the world’s leading community-driven hospitality company has announced its industry-first partnership with the Thailand Boutique Accommodation Trade Association (TBAA) to promote creative, people-powered Thai hospitality. Through the partnership, Airbnb and the TBAA…
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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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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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Bangkok’s MRT given the green light to run Phuket and Chiang Mai light rails
Bangkok’s subway operator. the MRTA (Mass Rapid Transit Authority) has been given the green light to invest in the proposed Phuket/Phang Nga and Chiang Mai light rail services. The MRT is also going to run the service when the services are eventually constructed. The cabinet has approved some of the basic details of the project that will give the MRTA…
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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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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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Confidence levels in the Thai economy continue to rise
Consumer confidence in Thailand is riding high. In fact it’s at its highest level in over 5 years. A growing economy and better prices for farm products is believed to be part of the continuing confidence. Regions in the country which have a high level of manufacturing or tourism are reaping the benefits of the growing economy. A survey by…
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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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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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