Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
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Sponsored 12Go introduces Japan Rail Passes to enhance travel accessibility for international travellers
For those who have travelled throughout Thailand, 12Go is a well-known provider of various trips, though the platform itself has a much wider reach. Ranging from buses to planes, 12Go is undoubtedly a leading booking platform for travel throughout the...
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Draft bill to inspect e-bank transfers over 50,000 baht
The Deputy Government Spokesman Rachada Dhnadirek says the Cabinet has now approved a draft bill proposed by the Anti-Money Laundering Office (AMLO) to inspect electronic transactions exceeding 50,000 baht, in a move to combat money laundering and financing of terrorists. According to international standards, Thailand has been found lacking on 17 issues in relation to preventing money laundering and the…
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18 foreign companies receive licences to operate in Thailand – September
“Since January this year, 155 foreign companies have been granted licences to conduct business in Thailand.” The Thai Department of Business Development has granted licences, during September, to 18 foreign companies to conduct business in Thailand. The director-general Vuttikrai Leewiraphan says most of these companies are from Japan, Singapore and Hong Kong, employing 428 Thais and have an investment capital of…
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Cafe Amazon brewing up a cup of coffee in China
PTT Oil and Retail Business, the owners of the Cafe Amazon brand, has opened its first branch in China. Their goal is to make the coffee chain a global brand, a sort of ‘Thai Starbucks’. The first Cafe Amazon outlet in China is located at a Sinopec petrol station in Nanning of Guangxi, in southern China on the Vietnamese border,…
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Thailand may lift ban on foreign investors for some innovation sectors
PHOTO: Marvin Meyer/Unsplash Thailand’s Commerce Ministry is considering whether to remove certain innovation-related businesses from the list of those open only to Thai citizens. The idea is being floated as a way of increasing foreign investment in Thailand, making the country a more attractive option for overseas companies. Deputy Director General of the Department of Business Development, Poonpong Naiyanapakorn says…
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Phuket social enterprise shop takes the first steps
PHOTOS: stepswiththeera.com A Bangkok-based social enterprise has made its debut in Phuket as it opened a new zero-waste shop, cafe and vocational training centre in Cherng Talay. The shop is run by Steps With Theera and provides a range of plastic substitutes including bamboo straw sets, bamboo toothbrushes and SuperBee wax wraps, alongside a refill station with beauty products from…
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No impact on PTT’s imports from Saudi oil refinery attack: Thai minister
Thai energy minister Sontirat Sontijirawong claims that last Saturday’s attacks on two major oil-processing facilities run by the Saudi-owned company Aramco will not affect oil imports of the Thai petro-chemical giant PTT group. He added that he had learnt from Aramco and related parties that the situation there was under control and the damage was being assessed. The incident would…
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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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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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Centara signs up three more Phuket hotels
The surge of new properties continues in Phuket as the developers and Thai business leaders continue to show their confidence in Phuket as an international holiday destination. Thai hospitality group Centara Hotels and Resorts has entered into agreements to manage three hotels on Phuket’s northern west coast in Mai Khao. Two of the properties are currently operating, which are the…
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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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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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World economy wakes up to a day when the US has imposed new tariffs on China
The US has rolled out new tariffs on Chinese products yesterday but some economists say the latest gamble is likely to backfire and hurt the US economy. Meanwhile they predict the ramping up of the tariff ti-for-tat will not tarnish China’s resilience or dampen development in the long run. Yesterday the US administration imposed 15% additional tariffs on about half…
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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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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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Baht to climb higher against USD, more pressure on exports
The Thai baht is set to soar further as one side effect of the latest escalation of the China-US trade war. Economists say the latest tit-for-tat trade sanctions will hasten foreign capital inflows into Thailand’s “safe haven” bond market while the US Federal Reserves may again cut interest rates, adding more fuel to the situation. Meanwhile the Thai export situation…
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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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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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Official complaint filed with the DSI over The Peaks Residences Condominium in Phuket
PHOTO: Inspections at the property in March this year – Kritsada Mueanhawong Bangkok MP Sira Jenjaka has gone ahead and filed a long list of formal complaints over The Peaks Residences Condominium project being built in the hills above Kata Noi in Phuket. The Palang Pracharat MP has also claimed to have had death threats made against him over his…
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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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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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“Government stimulus package for Thai economy is unsustainable”
PHOTO: Wikipedia Anusorn Tamajai, an economist from Rangsit University, says he expects the proposed package to make little difference and has declared it unsustainable. The package, which should be approved this week, is worth 370 billion baht and includes cash handouts for farmers and low-income earners, grants for children, incentives for domestic travelers, and tax incentives for small businesses. It’s…
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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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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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Nation Multimedia Group aims to counter tech ‘disruption’
PHOTO: NMG group chief, Shine Bunnag Thailand’s media giant Nation Multimedia Group say they are poised to ride the new “digital wave” to tide over the industry disruption brought about by technology, group chief Shine Bunnag said while outlining his vision. Shine, who is chairman of NMG’s executive committee, said in an interview with Krungthep Turakij newspaper that with the…
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