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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Infinito helps hotels in Thailand with revenue management
Maximising revenue and profit–isn’t that the ultimate goal for every business in the hospitality industry? If you run a hotel, you might have heard that revenue management is an effective way to boost your top-line revenue. It involves using data...
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Mango mania: Thailand’s sweet export boom
Thailand’s mango exports soared by a staggering 130% in the first quarter of this year, reaching an impressive 1.6 billion baht, compared to the same period last year. Not to be outdone, exports of sticky rice saw a notable increase of 13%, totalling about 1 billion baht. Chotima Iemsawasdikul, the Director-General of the Trade Negotiations Department, attributed this surge to…
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Thai betel nut exports hit by India tariffs and Myanmar conflict
Thai betel nut exporters are currently facing significant challenges due to tariff barriers imposed by India and the ongoing armed conflict between the Myanmar military and rebel forces. Betel nuts, also known as areca nuts, are widely chewed for their stimulating effects across many Asian countries, including Bangladesh, Myanmar, Cambodia, Thailand, and Laos. However, the nuts are classified as a…
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Home loan difficulties lead to six-year low in housing transfers
Difficulties in securing home loans have led to a significant decline in housing transfers across the country in the first quarter, reaching the lowest level in six years and marking the fifth consecutive quarter of decline. The Acting Director-General of the Real Estate Information Center (REIC) Vichai Viratkapan reported that residential demand nationwide contracted in the first quarter, with housing…
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Thailand’s solar panel tax cut scheme to save households on bills
A new tax reduction scheme aimed at encouraging households to install rooftop solar panels is expected to be finalised by mid-year, announced the Department of Alternative Energy Development and Efficiency (DEDE). The initiative seeks to lower electricity bills and reduce carbon dioxide emissions. Households that purchase solar panels with a power generation capacity of less than 10 kilowatts, costing under…
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Lamborghini to debut electric supercar in Thailand by 2028
Automobili Lamborghini, the renowned Italian luxury sports car manufacturer, plans to introduce its new electric supercar to Thailand, with a global debut slated for 2028. This initiative is part of the company’s broader strategy to reduce carbon dioxide emissions. For years, Lamborghini has been actively developing electric vehicle (EV) technology to support its goal of achieving carbon neutrality, according to…
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Thailand’s business confidence drops amid wage hike concerns
Business confidence in Thailand took a hit as the Thai Industries Sentiment Index (TISI) dropped in April, reflecting entrepreneurs’ concerns over a slew of economic pressures, including a proposed daily minimum wage increase. The TISI, a measure of the mood in the industrial sector, registered at 90.3 points, a decrease from the 92.4 points recorded in March, as reported by…
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Finance Minister, Central Bank Chief to discuss interest rates
A crucial meeting is scheduled tomorrow between Finance Minister Pichai Chunhavajira and Bank of Thailand Governor Sethaput Suthiwartnarueput to address the prevailing contention over interest rates. The government, under Prime Minister Srettha Thavisin’s directive, has been advocating for a rate reduction to stimulate the economy. In contrast, the central bank has maintained its key rate at the highest in ten…
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SMEs loans complications eased by Finance Ministry’s new AMC
The Thai Finance Ministry has scheduled the establishment of a new asset management company (AMC) for next month. This move aims to provide relief to beleaguered retail borrowers, especially small and medium-sized enterprises (SMEs), by assisting them in clearing non-performing loan (NPL) statuses and embarking on a fresh financial journey. The collaborative effort between Government Savings Bank (GSB) and Bangkok…
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Central Retail reports 6% revenue boost to 67.3 billion baht
Central Retail Corporation‘s first quarter earnings report revealed a robust performance, with a 6% revenue increase to 67.3 billion baht (US$1.84 billion). Significantly, the company’s net profit jumped by 14% to 2.52 billion baht (US$ 70 million) compared to the same period last year. Under the leadership of Yol Phokasub, the company has seen a notable shift towards omni-channel retailing,…
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Superrich faces stalled growth as tourists prefer travel cards
Renowned local money changer Superrich Currency Exchange (1995) Co, known by its SuperRich Orange brand, has faced a challenging start to the year with its transaction growth stalling at zero during the initial four months, despite an increase in foreign travellers. The stagnation in Superrich’s growth is largely due to the rising popularity of travel card services, which are increasingly…
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Thailand introduces 10-year EEC visa to attract global talent
Aiming to bolster the Eastern Economic Corridor‘s (EEC) potential as a regional industrial powerhouse, Thailand’s Cabinet has sanctioned a novel 10-year visa specifically designed for top-level professionals and experts. The EEC visa is part of a strategic move to attract talent to the country’s targeted industries, as announced by deputy government spokeswoman Rudklao Intawong Suwankiri following a recent cabinet meeting.…
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Thailand champions LGBTQ rights with World Pride 2030 bid
As Thailand gears up to potentially host the prestigious World Pride event in 2030, Siam Piwat Group is championing a progressive stance on LGBTQ rights. The property and retail giant has launched the “Celebration: Right to Love” campaign in anticipation of the same-sex marriage bill’s enactment by the end of the year. This legislative milestone would position Thailand as the…
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Chiang Mai’s rot daeng under threat from ride-hailing apps
Chiang Mai’s iconic rot daeng, or red cars, transport service is under threat as tourists are opting for alternative modes of transport, causing local operators to urge the government for assistance. The issue was highlighted in an online debate where a Facebook user expressed concerns over the survival of the rot daeng services, which are now facing stiff competition from…
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BrewDog’s Bangkok expansion: What this means for Thai nightlife
Multinational brewery and pub chain BrewDog is shaking up the Bangkok bar scene with its latest announcement, partnering with Atalanta Hospitality to open its first bar in Thailand, part of a major push into the Asian market. BrewDog, known for its edgy branding and innovative brews, currently operates over 100 bars and hotels worldwide. Last year, it ambitiously unveiled plans…
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Johor, Singapore aim for Shenzhen-like economic zone
The Malaysian state of Johor suggested its economic and petrochemical centres as potential locations for a special zone with neighbouring Singapore. This proposal is part of Johor’s ambition to become the Shenzhen of Southeast Asia, according to the Star’s report. The proposed area will include Iskandar Malaysia and Pengerang, located on the state’s eastern coast, said Johor Menteri Besar Onn…
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Thai industry leader defends Bank of Thailand’s financial autonomy
Federation of Thai Industries (FTI) Vice Chairman Montri Mahaplerkpong voiced opposition to any proposals that would impede the Bank of Thailand‘s (BoT) authority over its financial stability management. Montri argued that the government should explore more palatable solutions to its disagreement with the BoT over policy rates, rather than attempting to curtail its power, which he sees as a contentious…
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Golden stability: Prices hold firm above US$2,300 despite brief dip
With a steady hold above US$2,300 during the early days of May, gold prices remained relatively unchanged, following a brief dip to the lowest level since the start of April. The first half of this year is anticipated to experience intense volatility in prices owing to factors such as the US economic health, global interest rate fluctuations, and the Middle…
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Tensions rise over BoT’s independence amidst economic recovery
The Bank of Thailand‘s independence has become a subject of contention, following statements by Pheu Thai Party leader Paetongtarn Shinawatra, which have been widely reported. This has escalated existing tensions between the central bank and the coalition government. However, many economists and policymakers assert that the central bank’s independence is crucial and suggest alternative solutions to resolve the conflict. Prasarn…
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Back-to-school: Rise in education costs leaves parents reeling
As the cost of schooling skyrockets, parents brace themselves for a financial storm, with tuition fees soaring to unprecedented levels. The latest revelation from the University of the Thai Chamber of Commerce (UTCC) uncovered the staggering truth behind education expenses in 2024. According to Thanawan Polwichai, advisory chairman of the UTCC’s Centre for Economic and Business Forecast, the latest survey…
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Rayong tourism suffers after industrial area explosion
Tourism in Rayong has suffered a setback after a pyrolysis gasoline tank in the Map Ta Phut industrial area exploded on Thursday, resulting in one death and four injuries. The incident led to a flurry of tour cancellations at several fruit farms in the area, despite being located 40 to 50 kilometres away from the site of the explosion. The…
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Red Bull’s global charge: TCP Group aims high
TCP Group, the firm behind the manufacture and distribution of Krating Daeng, also known as Red Bull, has set its sights on international markets due to their high growth potential. The management is also keeping an eye on escalating costs. Spearheaded by TCP Group’s CEO Saravoot Yoovidhya, the company observed a growth of merely 4-5% in the energy drink market…
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Thai stock market poised for upward surge after rocky start
After a downward trend in the first half of the year, Thailand’s stock market is predicted to come back in the second half, with a 2.7% decline year-to-date making it one of the worst global performers. This potential recovery is anticipated to be driven by a combination of growing fiscal budget disbursement, a weaker baht, and a revival in tourism and…
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Energising event: Thailand hosts future energy Asia summit
Thailand will host the Future Energy Asia Exhibition and Summit from May 15 to 17 at the Queen Sirikit National Convention Center in Bangkok. The event highlights Thailand’s crucial role in fostering a sustainable regional energy transition and underlines its commitment to this cause. Currently, Thailand’s energy sector is undergoing a significant transformation. The government has laid down ambitious targets…
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Bitcoin declines amid speculations of crypto market peak
Bitcoin’s value is slowly declining, marking a significant shift in the digital asset market worth over US$500 billion (18.5 trillion baht). This has led to speculation about the possible peak of the cryptocurrency rebound. The token is on the brink of a five-day losing streak, which hasn’t been seen since October of the previous year. The overall crypto market has…
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Car industry faces crunch as EV demand slumps and costs rise
The automobile industry, stretching from Europe to Asia, is bracing for a tough year ahead as rising costs and a slump in electric vehicle (EV) demand begin to take their toll on profits. Mercedes-Benz Group AG, yesterday, revealed plans to extend the lifespan of their combustion-engine cars due to underwhelming EV sales. Toyota Motor Corp, anticipating a 20% drop in…
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China’s imports and exports rebound showing positive shift in April
After experiencing a contraction in the previous month, China’s imports and exports rebounded in April, according to customs data released today. This positive shift indicates a promising enhancement in both local and international demand, providing a vital lift to the nation’s fragile economic recovery. The upswing in data suggests that the numerous policy support measures introduced in recent times are…
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Deepfake dilemma: AI scam rise, posing as kin for data snatch
Artificial intelligence (AI) deepfakes, used for identity theft and impersonating identities of the victim’s relatives are now being used for personal data collection, in a rising trend of scams in Thailand. Titinun Suttinaraphan, the Regional Marketing Director of Southeast Asia for Gogolook, developer of the Whoscall app, states that the total number of Thai were victims of 217,047 scams per…
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Thailand’s economic growth forecast revised down
The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) has revised Thailand’s economic growth forecast downward from a range of 2.8 to 3.3% to 2.2 to 2.7% for the year. The revised outlook is due to a slowdown in exports, which is negatively affecting the manufacturing sector. The panel also flagged a decrease in export expansion from 2% to…
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How Cryptocurrency is changing consumer behaviour in Thailand
Cryptocurrencies like bitcoin or similar have played a significant role in the global economy in recent times, and Thailand is just one of the countries where these changes are taking place. Since the country has a young population, and this population is actually tech-savvy, it didn’t take long for cryptocurrencies to be adopted. While the popularisation of cryptocurrencies in Thailand…
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Thai shippers forecast modest growth amid wage increase concern
The Thai National Shippers’ Council (TNSC) projects a 1% to 2% growth in exports for the current year and urges a thoughtful approach to the proposed increase in the daily minimum wage, supplemented by government support via the wage committee mechanism. TNSC chairman Chaichan Chareonsuk anticipates a 1 to 2% increase in the nation’s exports by March this year. Chaichan…
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