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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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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Industry group calls for further cut in Thai policy interest rate
“Thai private sector, recently adjusted downward the export growth projection for this year to 2.9 – 3%.” The Federation of Thai Industries have their hopes set on the Monetary Policy Committee of the Bank of Thailand making another cut in the policy interest rate, currently set at 1.5%. With the US Fed looking to drop its interest rate this week,…
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Laguna Angsana Resort opens conference and exhibition venue
by Bill Barnett of c9hotelworks.com Laguna Phuket’s Angsana resort is set to debut it’s new 1,500 square metre conference and exhibition space. It’s actually a renovation and rebranding of the successful Laguna marquee space and relocated to a more permanent location within the Angsana Laguna Phuket complex. Tagged as ACES, the venue will open at the end of September. For…
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US Fed poised to cut rates this week
“Hiring, while strong, has slowed. Business investment is moribund. Exports are weakening. And manufacturing – always a vital economic weather vane – is in recession.” by Douglas Gillison Facing a dauntingly uncertain economic horizon and constant criticism, including insults and demands for stimulus from the US president, the US Federal Reserve is set to cut interest rates this week. In speeches…
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Large Thai business feeling the effects of US-China trade war, rise of the baht
So what do Thailand’s big banks say? The ongoing US-China trade war and the appreciation of the Thai baht against other currencies is now starting to impact larger corporates in Thailand. Wasin Saiyawan, senior executive vice president and chief of wholesale banking at Siam Commercial Bank says, that although large businesses are resilient to any impact and their ability to…
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The most influential brands among Thailand’s millennials
PHOTO: ipg-connect.com A report published yesterday lists the most influential brands for Thailand’s millennials, who are also known as Generation Y. The report, carried out by Singapore think-tank Influential Brands and Bangkok-based brand agency Neo Target, lists Lazada, Grab Taxi, The Mall, Central, Cafe Amazon, Auntie Anne’s, Krispy Kreme, Mister Donut, Watson, Taokaenoi, Jobthai.com, Acer Computer, S&P and Makro among…
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What goes up must come down – the battle of the baht
Newton’s law looms over the Thai baht. Meanwhile, the Thai baht continues to be the best performing currency in Asia. The Thai currency is riding a 6-year high against the USD and, this year, has surged 8% against the US currency. But the strong baht is causing knock-on effects to the rest of the Thai economy, battering exports and stifling tourist…
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Soaring baht continues to court investors and speculators
The Thai baht continues to be the best performing currency in Asia. On a year-on-year basis it has soared more than 8% against the USD and this year reached a six-year high. But the strong currency threatens the country’s exports and tourism, two major drivers of Thailand’s economy. Thailand continues to have solid economic fundamentals, a high current account surplus and…
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The Suvarnabhumi shopping shambles
Retailers want ‘in’ at the world’s 21st busiest airport in the world. With through-traffic of 60 million+ each year, and growing, Thailand’s biggest retailers want a slice of the passenger spend. But if you can’t get a shop inside the airport, build your own shopping centre just outside to capture passengers, and some of their money, just before they arrive at the…
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New Central Village luxury outlet opens for business at BKK
Wonder if anyone from Airports of Thailand were invited to this morning’s opening? The Central Pattana president and CEO Preecha Ekkunagul, and directors Suthikiatis Chirathivat and Sudhitham Chirathivat, presided at the official opening ceremony of Central Village next to Suvarnabhumi airport this morning. Central Village has cost more than 5 billion and was five years in the planning. The new…
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Central Village developer vows to plough ahead with Suvarnabhumi opening
PHOTO: Bangkok Post The developer of the luxury outlet near Bangkok’s Suvarnabhumi airport is vowing to continue with the opening of Central Village as planned. Airports of Thailand (AoT) is blocking the entrance to the 5-billion-baht development, scheduled to open this Saturday. Central Pattana Plc (CPN) is petitioning the Administrative Court for an injunction against AoT, with CPN President Preecha…
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New 222 room development announced for Phuket’s Mai Khao Beach
A new 222 room development for Mai Khao Beach, on the northern coastline of Phuket, is currently undergoing its environmental impact assessment. Thai-Chinese Property Holdings has announced it is partnering with APlan Properties to develop the new hotel and residence project, Radisson Phuket Mai Khao Beach. The development is costing 1.6 billion baht and will be operated by the Radisson…
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Esso’s pumps out cleaner fuels and petrol station makeovers
Esso is launching a new line of gasoline and diesel fuels, produced with its new Synergy Fuel Technology that they claim offers 30% improved cleaning ability and engine protection. Esso says the additional benefits include improved acceleration and engine response. The Thai Esso team also says they are investing in more attractive and brighter service stations. The Synergy Fuel Technology…
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Minister calls for probe on legality of the new Central Village luxury mall at BKK
PHOTO: Under construction at the time and now ready to open, but… It’s bright and shiny, it’s new, it promises discounts on luxury goods, it’s next to the airport, it was set to open this Saturday, but is it legal? The Department of Provincial Administration Department has been asked to investigate the legality of the new Central Village ‘Bangkok Outlet…
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US-China tit-for-tat rattles Asian markets after Trump’s ‘tariff tantrum’
US President Trump has caused widespread panic in Asian financial markets today after Fridays “tariff tantrum” where he used Twitter to announce new levels of tariffs on Chinese imports after China announced their response to his previous ramping up of the ongoing trade war between Washington and Beijing. Asian shares have headed southward today after the President escalated tariffs in…
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Airports of Thailand block entrance to new Central Village at Suvarnabhumi
PHOTO: The Nation Please be seated and fasten your seat belts due to severe turbulence at the front of the almost-open Central Village “luxury outlet” shopping area next to Suvarnabhumi airport in Bangkok. A dispute between Airports of Thailand and Central Pattana, the owners of Central Village, has hit some mid-air turbulence after AOT officials set up tents blocking the entrance…
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Thai finance minister confident GDP will pick up next quarter
Deputy PM Somkid Jatusripitak says he is confident Thailand’s gross domestic product will pick up in the fourth quarter as a result of the launch of 316 billion baht economic stimulus package from the Thai government. He claims the new rice price guarantee scheme will also assist the agricultural sector. The Cabinet approved the new packages at its Tuesday meeting.…
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Central opens first luxury outlet at Suvarnabhumi on August 31
Central Village, “Thailand’s first international luxury outlet”, located near Suvarnabhumi Airport in Bangkok, will officially open on August 31. The Nation reports that the design of the 5 billion baht facility, owned by the Central Pattana group, will “highlight Thai architecture and cultural identities” and shoppers will find at least 130 well known international luxury and lifestyle brands. “More than half…
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Former finance minister says government shouldn’t bail out Thai Airways
Former Thai Finance Minister and current Democrat list MP Korn Chatikavanich is voicing his concerns over the financial crisis gripping Thai Airways and objects to any plan to use taxpayer money to rescue the ailing legacy airline. Korn says Thai Airways’ financial current troubles are similar to the situation in 2008, when the company struggled to find money to repay…
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Executives at Thai Airways asked to take pay cut
PHOTO: Thai Airways and Thai PBS World “An unnamed source in the Transport Ministry says the airline’s financial predicament is very serious and puts it at risk of bankruptcy.” The country’s national flag carrier, Thai Airways, could be in deep financial trouble and may need to delay repaying its debt or seek new loans. Thai PBS World reports tat the…
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Growth of Thai economy lowest in nearly five years
PHOTO: Supply Chain Asia The Thai economy registered growth of just 2.3% in the second quarter of 2019, compared with 2.8% in the first quarter. This is the lowest rate of growth in 19 quarters, according to Tossaporn Sirisamphan, secretary-general of Thailand’s economic think-tank, the National Economic and Social Development Board. Tossaporn warns that although the situation is not yet…
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Bank of Thailand relaxes Loan to Value to boost sluggish property market
PHOTO: booking.com The Bank of Thailand says it will relax the Loan to Value (LTV) for homebuyers purchasing residences together and that borrowers or co-borrowers applying for a loan under the first home buyers rule and who do not own any other residence would be given a 90% mortgage on a condominium and 95% for a single detached house and…
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Thai GM’s diesel plant in Rayong builds 500,000th engine
GM Powertrain Thailand has produced its 500,000th four-cylinder Duramax turbo-diesel engine, a production milestone since production officially started in 2011. GM announced that the Rayong plant is the first GM facility in the world to produce the engine. Hector Villarreal, president of GM Southeast Asia says the Duramax engines serve as the heart of the company’s ‘Colorado’ and ‘Trailblazer’ models. “They…
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Tollway company says ‘no’ to Bangkok motorway discounts
PHOTO: Thai PBS Expressway and motorway operators say there will be no further discounting of the country’s toll fees. Bangkok Expressways & Metro Public Company says the proposal by the new Transport Minister for expressway tolls to be cut by an average of 5-10 baht is not going to happen. The company claims they have already helped the government over…
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Asian stock markets follow Wall Street’s lead downward this morning
Asian stock markets have followed Wall Street’s lead this morning falling sharply as investors made their concerns apparent about economic recessions in some of the larger economies. They also reacted to more threats of instability from the trade war between the US and China. The Stock Exchange of Thailand (SET) Index dropped 1.6% during this morning’s trading. US markets led…
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Don’t mention the ‘R’ word – world’s biggest economies at risk of recession
CARTOON: Financial Times Five big economies are at risk of recession – Germany, Italy, Mexico, Brazil and the UK. A recession is usually defined as two consecutive quarters of contraction in an economy. Locally Singapore and Hong Kong are teetering on technical recessions, both vital regional business hubs. The UK economy shrunk in the second quarter, and growth has flat…
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Industry minister says exporters will still need help to work-around strong Thai currency
The strong Thai baht is still a big problem for Thailand’s industries, exports and tourism, key drivers of the Thai economy. The baht’s strength has been partly driven by Thailand’s high current account surplus of US$17 billion this year, attracting investment in the currency as a ‘safe haven’. Industry Minister Suriya Juangroongruangkit says the ministry will continue to support exporters…
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Thai land prices appreciate average of 8.3%
Land prices around Thailand have risen by an average of 8.3%, whilst land in the Eastern Economic Corridor have appreciated by more than 10% – the new land appraisals will be implemented for tax collection purposes next year, according to Wilawan Veerakun, deputy director general of the Treasury Department. The price of parcels of land in Khampaeng Phet province has gone…
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Thai advertisers deserting Print, but love Cinema and Transit ads
Thai businesses are shunning newspapers and magazines for advertising, but still support cinema advertising and ‘transit’ media. Newspaper advertising spend dropped nearly 28%. Magazine spending wasn’t far behind dropping nearly 25%, year on year. Thailand’s advertising spend dropped 0.42% year on year in July to about 9.143 billion baht, according to Nielsen media report. The report says that only cinema,…
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Treasury department plans new lease of life for disused buildings
The Treasury Department is considering leasing out older and disused buildings for commercial development if the lessee pledges to preserve their historical, architectural or cultural value. The department’s director general, Amnuay Preemonwong, says it would be a better option than seeing them abandoned and becoming increasingly dilapidated causing health and safety risks to neighbours. But the proposal will not apply to…
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Radisson brand add another Phuket hotel to its portfolio
The Radisson Hotel Group has signed a deal for a 222 key mixed-use hotel on Phuket’s north west coast at Mai Khao. Set to open in early 2023, the hotel has sales and leaseback units under a hotel residences program. Radisson Phuket Mai Khao Beach is being developed by Thai-Chinese Property Holdings. Phuket’s ongoing development surge continues to attract Chinese…
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