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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Amari Pattaya has a dramatic makeover
“Dramatic changes have taken place to the entire property, which has transformed the legendary hotel into a new paradise along the northern end of Pattaya Bay.” Today’s Amari Hotel in Pattaya has its roots back in the early 1070s when it was constructed as the Orchid Lodge. But now there’s been a major make-over under the Amari brand. Amari Pattaya’s…
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A major lawsuit has been filed by owners of JW Marriott Phuket Resort & Spa
A letter filed with the Stock Exchange of Thailand (SET) yesterday. A major spat between the owners of the JW Marriott Phuket Resort & Spa in Mai Khao and the parent management company Marriott International, Inc… Minor International Public Company Limited (“MINT”) announces that it has, through its 100% subsidiary MI Squared Limited, initiated legal action in Thailand against Marriott…
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Thailand’s Central Bank start twiddling the currency knobs to curb baht speculators
The Thai Central Bank says it is taking steps to ease the impact of speculative currency trading which has contributed to strengthening the baht. They say they’re ready to use additional measures if speculative trading continues to persist. The Bangkok Post reports the Central Bank reduced the outstanding balance of non-resident baht accounts (NRBA) and non-resident baht accounts for securities…
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Avani Hotels and Resorts re-brands two resorts in Krabi
PHOTO: Klong Dao Beach, Krabi, home for one of the new ‘Avani’ brand hotels Two new hotels are on the way for Krabi under the Avani Hotels & Resorts brand. Avani Hotels & Resorts have signed up two new resort hotels in Krabi, marking the brand’s continued growth in Thailand. The existing resorts will undergo renovations to bring the properties in…
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Talks resume in the ongoing China-US trade spat
By China Daily – Asia News Network There’s been a resumption of talks in the China-US trade.’war’ Analysts are hoping the restart in talks between top negotiators from both nations will deliver a win-win outcome. China’s Vice-Premier Liu He spoke by phone with US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin on Tuesday. According to reports, officials exchanged views…
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Post-election uncertainties see World Bank downgrade GDP further
Thai GDP growth is projected to fall from 4.1% last year to 3.5% in 2019, according to a World Bank report out today. The Thailand Economic Monitor noted that exports contracted by 4% in the first quarter of 2019 – the first quarterly contraction in three years. Private investment and household consumption continued to grow close to their three-year high, helped…
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New EU-Vietnam free trade deal threatens Thailand
PHOTO: Hanoi, Vietnam’s capital, where the new trade deals with the EU were signed last week Vietnam’s new trade deal with the EU is threatening Thailand’s trade and investment. The European Union-Vietnam Free Trade Agreement and the EU-Vietnam Investment Protection Agreement were signed on June 30 in Hanoi. Thailand has no free trade agreement with the EU so all Thai…
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Thai parliament addresses low prices for farm produce
PHOTO: Low prices for produce, from coconuts to rice, roller to oil palm The new parliament has considered urgent motions on the low prices of farm goods and resolved to set up a 39 member extraordinary House committee to look into the the matter. The new Thai House of Representatives has deliberated 11 urgent motions lodged on the issue of…
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Thai Stock Exchange best performer in Asia – first six months
The Stock Exchange of Thailand (SET) Index shows an increase of 6.8% over previous month up to the end of June, marking it as the best performer in Asia. The SET is up 10.6% from the end of 2018 to 1,730.34 points. The average daily trading value of SET and Market for Alternative Investment in June was 60.53 billion baht…
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Bank of Thailand tackles surging Thai Baht
In attempts to exert some pressure on the Thai Baht control levers, the Bank of Thailand says it’s scaling back the auction size of short-term bonds. The actions are an attempt to curb the rapid surge of the Thai Baht which hit a six-year high last Monday. The central bank has announced that the reduction of short-term bond supply is…
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Luxury condos change the face of Sathorn Road in Bangkok
by Somluck Srimalee, The Nation From Sathorn junction to Taksin Bridge, the riverside section of Sathorn Road has been transformed from a strip of shophouses to luxury residential condos in a gentrification that added 8,000 new apartments to the area. As well, the businesses have shifted to a more modern trade to replace the traditional trades. With the market trend, listed…
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The Thai Baht in 2022 – a prediction
Please note: This is just ONE website’s predictions of the currencies in the future. It should not be taken as a serious representation of the state of the world currencies in 2022. Trying to find a few good numbers amid the bad we thought we’d look forward three years to some of the world’s major currencies and their projected performance…
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Thailand’s auto manufacturing expects to reach 2.2 million
PHOTO: Autoinfo Car sales for 2019 are likely to increase thanks to the improved purchasing power of Thais as the agricultural sector returns better prices. Permanent Secretary of the Ministry of Industry, Phasu Loharachun, say the automotive industry is the main economic activity generating revenue for the country. Meanwhile, the total number of cars to be manufactured this year is expected…
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A new beginning at 48 – The Nation prints its last newspaper today
The Nation daily newspaper, known for its independent and aggressive news reporting, publishes its last print edition today. After 48 years on the newsstands, one of Thailand’s only two English dailies, goes the way of many good banners before them. The Nation will continue as an online news source. The newspaper is the latest victim of the disruptive technology that…
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Somkid blames sluggish formation of Thai government for GDP downgrading
Deputy PM Somkid Jatusripitak is saying the delay in forming Thailand’s next government caused the downgrading of the country’s GDP projections from 3.8% to 3.3%. The Bank of Thailand downgraded their forecasts at a meeting this morning. But Somkid noted that he was confident that Thailand’s GDP growth will pick up again once the new cabinet had been announced and…
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Trying to find a pulse in Thailand’s economic health
Thailand’s economy is south-east Asia’s wounded soldier as the newly elected Thai government tries to boost confidence and stimulate the economy after five years of military rule. Certainly the past 12 months have been the most challenging. GDP growth hit a four-year low of 2.8% for Q1 2019 and exports remain weak. Despite having unlimited power for half a decade,…
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Thailand Post’s no-go list
Twenty years ago postal services were thought to he going out of fashion as email and social media began to replace people sending letters in the post. But that’s all changed now as online retail services are making the world’s postal services busier than ever. Including Thailand Post. If you’re wishing to avoid problems with Thailand Post and would like…
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Unregistered hotels and lodgings told to get their paperwork in order, or close down
At least 5,000 of the country’s estimated 23,000 unregistered small hotels are expected to get their paperwork in order. The rush to action follows the announcement by the current government to register and comply with the Hotel Act, or be closed down. Most of Thailand’s busy tourist spots are rampant with small and illegal lodgings for tourists. Whilst the growth…
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Thailand’s exports plunge 5.8% in May
Thai exports have declined 5.8% for the month of May 2019. The value of May’s exports is 648 billion baht. The Commerce Ministry says in their report today that the contraction is mostly influenced by global factors including ongoing trade tensions between US and China and tighter global financial conditions, and specific factors of each country and region, political uncertainty…
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Private hospitals briefed on new drug prices and medical fee notifications
Internal Trade department officials have briefed representatives of 353 private hospitals around Thailand about the public notification of prices of drugs, medical supplies and medical services to patients are treated at their hospitals. Internal Trade Department Director General Wichai Phochanakit explained that the private hospitals need to notify the public of the prices of drugs separately, not including the hospital…
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Where to post all of your job positions: Completely free!
Recruitment can cost you more than you realize. You do not want to sacrifice candidate quality, but you don’t wish to spend too much time and money to find them. All types of employers are searching online for platforms they can use to post their job positions for free. From social networking websites to job boards, there are many ways…
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Tesco looks to open 750 new convenience stores in Thailand
by James Davey, Editing by Paul Sandle Tesco, the UK’s largest retailer, has announced that it could grow its business in Thailand by opening 750 new convenience-style stores. There are currently1,583 Tesco stores in Thailand. Tesco’s Asian investment plunge will likely target the Chinese and South Korean markets as well. The Thai subsidiary, Tesco Lotus, was the first western supermarket to set…
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Chinese move their purchase power away from Bangkok condo market
Chinese condo buyers are veering their purchase power away from the Bangkok property market citing the strong Thai currency, overpricing and a supply glut. 2015 – 5.8 Yuan to the Thai Baht 2019 – 4.4 Yuan to the Thai Baht The rise of the baht and the weakening of the Chinese Yuan over the past four years, have culminated in…
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Bangkok to Hua Hin van operators blame Prayut but passengers say the service was “terrible”
PHOTO: NewsBeezer A minivan service from Bangkok to Hua Hin has been forced to conclude services by the end of June. “June and James Transport” are blaming the military government and NCPO leader Prayut Chan-o-cha. But Manager Online says reviews from customers shed a different light on the story saying the service was “terrible”. Customers say the vehicles were terrible…
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Administrative Court rejects private hospitals’ plea to remove caps on pricing
Thailand’s private hospital sector has failed to win respite from an order controlling their medical prices, after the Supreme Administrative Court turned down their request. The court made the decision saying that the order will not cause irreversible damages to the hospitals even though an injunction has not been issued yet. The Private Hospital Association, together with 42 private hospitals,…
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SCB report says political instability will dampen economic confidence
The question over stability of the new government continues to dampen economic outlook, despite the recent sittings of Parliament and the formal election of a new prime minister – this according to a new economic outlook report. The report by the Siam Commercial Bank’s Economic Intelligence Centre says that the new government will face difficulty in balancing the interest of each…
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Fishermen say they will protest fishing bans off Nakhon Si Thammarat, Thailand
Fishermen in Nakhon Si Thammarat are warning of mass protests against the provincial governor if he doesn’t act and allow them to fish legally in the seas off the provincial coast. The south Thailand fishermen say they’re being harassed by fishery officials. 500 local fishermen gathered yesterday to air their grievances to the newly elected Palang Pracharat MP for the…
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Private sector waits for new economic ministers to raise investor confidence
The private sector says they’re waiting to see the new ministers emerge from the current negotiations that will be in charge of economic portfolios, who may raise the confidence of investors. Meanwhile, the Consumer Confidence Index was at 77.7 in for the month of May, the lowest in 19 months. Thanawat Pholvichai, director of University of the Thai Chamber of…
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Final design for Phuket Light Rail wrapped up next week
A final design of light rail (tram) project in Phuket should be concluded by next week as a dispute over how the rail structure will be laid is close to being settled. Deputy Transport Minister Pailin Chuchottaworn says recent talks have been focussing on the design of tram track construction along some of the densely populated areas from the airport…
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Is Airbnb taking over the Thai hotel industry?
Airbnb is posing a less significant threat to hotels in Thailand than expected, but its influence in the longer term should not be underestimated, according to real estate company JLL Offering new alternatives to travellers, Airbnb is certainly taking some of the wind out of the sails of the traditional hotel accommodation model. However, findings from Jone Lang Lasalle (JLL) shows…
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