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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Low Cost Carriers: Save us from safety savings
PHUKET: Dying in an airplane crash is not exactly my idea of heading off into the hereafter with a veritable big bang. Much less trying to escape from a burning plane about to explode in a widescreen Bruce Willis Die Hard epic. But perhaps let me wind this back a little to pre-Grantville. Last Thursday, a last minute business meeting…
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Phuket Waste 101 – Dousing the burning issue
PHUKET: As you begin to read this article, try to recall your consumer decisions and habits today. Did you go to the convenience store? What did you buy? Was it put in a plastic bag? When you were done consuming, how did you dispose of your waste? What about lunch – did you have takeaway scooped into one of those…
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Thai smartphone sales ringing up big numbers
PHUKET: Smartphone sales in Thailand more than doubled in the first four months of 2013, a report by one of the world’s largest research companies reveals. The GfK Thailand office reports that communication consumer electronics went from being just one in every five handsets less than two years ago to more than two in five or 42% of overall unit…
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Phuket Business: A Swiss sip of homely bliss
PHUKET: Operators of hotels, restaurants, cafes and especially Swiss expats wanting a taste of home, can now purchase Caffe’ Chicco d’Oro and many other imported food products from Switzerland in Phuket. Patty Bamert together with Samai and Fredy Reutlinger, have recently opened their ‘Caffe’ Chicco d’Oro’ coffee and bistro shop in Kathu, serving the popular Swiss coffee brand of the…
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Jaguar, Land Rover get new dealership in Phuket
PHUKET: Luxury car importer GB Automobile Co Ltd was recently appointed to be the sole, official authorized dealer for Land Rover and Jaguar cars in Phuket and the rest of Southern Thailand. The official grand opening of the new showroom is set for next month. Meanwhile, GB Auto is undergoing an extensive renovation of their showroom, which is adjacent to…
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AP Superyachts berths new office in Patong
PHUKET: Luxury boating firm Asia Pacific Superyachts (APS) Phuket is growing, reports General Manager Gordon Fernandes. “We’re pleased to announce our headquarters have moved to a brand-new, purpose-built office in preparation for the exciting times ahead as more yachts discover the amazing cruising available in Southeast Asia,” he says. While the new offices offer increased facilities and staff to service…
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Phuket Finance: One rotten apple can spoil the whole barrel
PHUKET: As of the middle of June, the portfolios of many active managers of both mutual funds and hedge funds alike were badly under-performing the benchmark Standard & Poor’s 500 index. In fact, and despite a bull market that had seen the S&P index climb about 16% since the start of the year, over two-thirds of active managers were missing…
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Phuket Property Watch: Big bang of luxury
PHUKET: Welcome to rainy season in Phuket. It’s Friday morning as I ponder the sound of rain pelting down on the roof and it feels almost as if I’m in Syria taking incoming fire. My life is that of a minimalist. Give me a black t-shirt, shorts and a well worn pair of Sanuks. No watch, no jewelry, just an…
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PIMEX 2014 organizer hyped about January date
PHUKET: The next Phuket International Boat Show (PIMEX) is open for business, having been taking bookings since early last month, May 2013. PIMEX 2014 is confirmed to take place between January 9 and 12 at Royal Phuket Marina and remains a permanent fixture in the island’s event calendar as it approaches its 11th year. “After careful analysis of the last…
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PHUKET FINANCE: Don’t let a ‘wall of worry’ cut you off from a bull market
PHUKET: Although the economic numbers coming out of the United States are not exactly impressive, the S&P 500 has been hitting all time highs and at the end of April, was up some 14.5% since the start of the year, while gold, the ultimate investment of market contrarians, plunged the most in 33 years. In other words, the US stock…
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Phuket International Boat Show 2014 sponsorship opportunities
PHUKET: A number of commercial sponsorship and partnership packages are now available for the next Phuket International Boat Show (PIMEX), which will celebrate its eleventh anniversary next January. Sponsorship experts, Paul Poole (South East Asia) Co Ltd, will represent PIMEX 2014 in its drive to attract new sponsors and partners, offering several package tiers (click here for site). Andy Dowden…
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SPECIAL REPORT: Recycling 101 – reducing a piling burden
PHUKET: By some estimates, as much as 20 per cent of the island’s rubbish gets recycled. But this number could be higher if more consumers were made aware of a few things.The island is home to dozens of small and medium scale scrap yard operations and recycling depots that make a living, if not a decent business, by buying back…
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Phuket Finance: Educational arbitrage
PHUKET: I think everyone would agree that a big part of long term financial planning is saving for their children’s university fees, which continue to reach more and more astronomical heights. However, very few people realize there are many ways to greatly reduce these costs without reducing your child’s value on the job market. Arbitrage usually refers to buying a…
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COMMON CENTS: AEC will bring opportunities, threats to Thai, ASEAN citizens
PHUKET: THE ASEAN Economic Community (AEC) to be established in 2015 creates a huge potential for the streamlined flow of labor, goods and services, and investment capital. However, along with this opportunity there are also potential threats which Thailand has to be aware of and address. It is my concern that Thailand is not doing enough to prepare and confront…
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Phuket Finance: Golden rules for investing
PHUKET: Being a successful investor over the long-term is not going to be easy, but if you have been a bad investor in the past, who has lost money investing, chances are it is because you didn’t follow these simple, yet essential rules.Educate yourself about investing Walk into any bookstore and you will likely see several shelves of books covering…
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Navy shore-leave to inject 1 million dollars into economy
PHUKET: The island’s economy – especially at the party town of Patong – will be getting an early low-season boost thanks to this week’s visit by the American Navy supercarrier, USS Nimitz along with its armed missile-cruiser escort, the USS Princeton, which both moored off Phuket early this morning. Topping off a week-long journey through the South China Sea, and…
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Bangkok Hospital Phuket to invest B600mn in facility
PHUKET: Bangkok Hospital Phuket (BHP) has announced that it will invest 600 million baht to open a new hospital on the island by early next year. The site of the as yet unnamed hospital will be on Chao Fah West Road, just opposite the Chao Fa Villa Phuket housing development in Mueang district. Director of Bangkok Hospital Phuket Dr Narongrit…
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Phuket Finance: Currency crisis warning signs
PHUKET: THE strength of the Thai Baht is a major topic of conversation these days, especially since so many Phuket residents are living on a fixed income, denominated and paid in a foreign currency from abroad. We have all been feeling the same pain as the combination of the strong baht and domestic inflation has led to our hard-earned money…
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Cashing in on Thai and Russian relations
PHUKET: Phisak Nivataphand, the president of the Thai-Russian Chamber of Commerce and advisor for the Russian Studies Center of Chulalongkorn University, was recently in Phuket to give a speech to promote Thai-Russian business relations. Organized by Thai-Russian media firm Expert Media Co Ltd, the seminar was held on May 10 at the Royal Phuket Marina. Mr Phisak opened his speech…
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Phuket Finance: Gold plunges to 33 year low
PHUKET: The past month has not been kind to anyone who has bought gold recently. With a nearly 9% loss since its January peak, and nearly 14% from last September’s, the precious metal has been anything but. Last week it had its largest one-day percentage decline since February 28, 1983. For the past 20 months, the price of gold has…
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Phuket firm to co-develop superyacht facility in Bangkok
PHUKET: Island based, Yacht Solutions (YS) has signed a memorandum of understanding with Bangkok’s Italthai Marine (ITM), agreeing to create Thailand’s first dedicated superyacht facility just south of Bangkok. This joint venture brings together Thailand’s largest and most established shipbuilding company, ITM, with one of Thailand’s most reputable and experienced superyacht refit companies, YS. Dubbed ‘Yacht Solutions at Italthai Marine’,…
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Phuket Finance: Dumping your UK domicile
PHUKET: Many British expats are unaware that as long as they remain UK domiciled, their estates will be subject to inheritance tax. Even if you have been living outside of the country for 40 years, it doesn’t mean you automatically have lost your UK domicile. In fact it is a little tricky to shed and this means your estate could…
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Capturing Phuket through Google Glass
PHUKET: By the time the Christmas holidays roll around this year, I’ll have one of the first sets of Google Glass in Thailand. Imagine being able to walk our beautiful beaches here in Phuket and capture the sights, sounds and experiences hands-free. That’s what Google Glass will allow me to do and most people here won’t even realize that my…
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A glass of wheatgrass if you please
PHUKET: Vitality, curative, nutrient-rich, detoxifying, energy – these are some of the most common connotations associated with the plant, Triticum aestivum, more commonly known as ‘wheatgrass’. Another increasingly common association is cancer prevention. “That’s what I like about it. Maybe it’s to do with my age,” says 68 year-old Frank Gunn, an American expat who has lived in Phuket for…
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Phuket Italian restaurants make the grade
PHUKET: The Thai-Italian chamber of commerce brought their Ospitalita Italiana project to Phuket recently, awarding five Italian restaurants the ‘Q’ certificate of authenticity. The ‘Q’ for ‘quality’ award judges the restaurants genuinely Italian if they meet 10 criteria concerning the training of their chefs and their use of genuine recipes and Italian products, such as wine and olive oil. Not…
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Phuket to adopt new “4 Ms’ plan to boost tourism
PHUKET: The Thailand Convention and Exhibition Bureau (TCEB) has revived its efforts and moved its attention once again to help promote Phuket as a regional hub for corporate and organizational tourism. A new four-year destination promotion strategy was presented to local, regional and national officials at a seminar on April 26 at the Metropole Hotel in Phuket Town. Entitled “Developing…
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Phuket Business: Small appliances see big growth in SE Asia
PHUKET: The Small Domestic Appliances (SDA) markets in Singapore, Malaysia, Indonesia, Vietnam and Thailand grew by nearly 6% in value over a recent 12-month period, when compared to the same period the previous year. SDA sales in the five markets, tracked from February 2012 to March 2013, had a combined value of more than US$804 million. The survey by GfK,…
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Phuket Investor: The last time the markets were here
PHUKET: I recently read a report that had a comparative list of statistics from the last time the stock markets were up at these levels, which was just before the crash at the start of the financial crisis. Early this march, the DOW reached a previous high level of 14164.5 and then surpassed that level. I thought it might be…
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Phuket Business: Head of airport expects arrivals to exceed 10.5mn
PHUKET: The director of Phuket International Airport (HKT) expects passenger arrivals to exceed 10.5 million by the end of this year, with related profits expected to be no less than two billion baht. HKT director Prathuang Sorn-kham said that the airport is fully prepared to provide increased conveniences for passengers ahead of the its 5 billion baht expansion project, due…
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Phuket Business: US tax regime – Comply or else…
PHUKET: At a US tax seminar held last month at the Holiday Inn, Patong, by the American Chamber of Commerce (AMCHAM) Phuket Chapter, American income earners and business operators were given a comprehensive update about the US tax regime’s reporting requirements and regulations. Two previous articles about the seminar – published in the Business section of the Phuket Gazette on…
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