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 5 ways retirees in Thailand lose money (and how to stop it)
Retiring in Thailand can be affordable and enjoyable, but many retirees lose money due to common mistakes. High living costs, scams, and unexpected expenses can quickly drain savings. There are five ways that retirees in Thailand can lose money and...
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Transport Ministry and State Railways told to pay HK company 11.9 billion baht
The long running issue of Bangkok’s ‘stonehenge’ has been resolved after the Supreme Administrative Court handed down its findings today over the disputed contract of the 60 kilometre link from central Bangkok to Don Mueang Airport. The Thai Ministry of Transport and the State Railway of Thailand have been dealt a costly blow after the Supreme Administrative Court today overturned…
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Phuket hotel watch – trends in 2019
by Bill Barnett of C9Hotelworks.com At the beginning of the year Phuket’s tourism and hotel sector was cautiously optimistic after a strong first half of 2018 and humbling second half. Key terms that kept popping up were Mainland Chinese, Thai Baht Appreciation, Elections and Supply Concerns. So today, with five months of performance under the belt in 2019 what are…
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‘Seastead’ set up off coast of Phuket
PHOTOS: Nation TV A Thai couple has successfully set up a ‘Seastead’ near Phuket. Seasteading is aiming to build floating societies with “significant political autonomy”. Nearly half the world’s surface is unclaimed by any nation-state, and many coastal nations can legislate “seasteads” in their territorial waters (like a “homestead” but wetter). The nation TV reports that website ‘Bitcoin.com’ and ‘Ocean.builders’…
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Massive 11 hotel project, surf club and waterpark for Kata, Phuket
by Bill Barnett, C9Hotelworks.com Thai developer K.W. Plaza group has unveiled plans for a large-scale mixed-use project called The Beach Plaza on 15 rai, that will have 11 three and four star hotels with a total of 1.490 rooms. The developer is already pitching the unconstructed project to global hotel interests for an imminent sale. The properties will have varying room…
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Boeing reveals another software problem in 737 MAX jets
US jet manufacturer Boeing says it has found a new but “relatively minor” software error in its 737 MAX jet models. The aircraft’s anti-stalling system, the MCAS, is already being investigated as the possible cause of two deadly crashes. In both cases all passengers and crew died when the Boeing 737 MAX model jets fell out of the sky after…
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Losing face: ‘Face Off’ Dr Xeping charged with fraud
PHOTO: Bangkok Post Beauty expert Xeping Chaiyasan has been charged with fraud but continues to deny any wrongdoing claiming the allegation has been brought against her by people with malicious intent. Xeping is known as “Dr Xeping”, although she is not a medical doctor, became famous for the so-called Face Off cosmetic surgery services she promoted. Her arrest, along with…
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Forecasts for Thai export growth revised upwards
The meeting of the Joint Standing Committee on Commerce, Industry and Banking has revised upwards its forecast of export growth in 2019 to between 6.5 – 7.5% from the previous forecast of between 3.5 – 4.5%. The revision is in line with export growth in the past eight months, the committee said. Growth momentum is expected to continue during the…
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Thai businesses feeling pinch from china-US trade wars
Since the US China trade war kicked off in the middle of 2018, Thai businesses have begun to feel the pinch as indicated by a small downward trend in Thai export numbers. In the short run, some Thai export items may benefit from trade diversion as US and Chinese importers shifted to certain Thai products to avoid punitive tariffs. However, indirect…
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Hermès opens its first store in Phuket at Central Floresta
Hermès has opened of its first store in Phuket at Central Floresta, the newly opened lifestyle shopping destination in the heart of the island, opposite Central Festival. As Hermès’ first venture outside the Thai capital, the new Hermès Phuket store makes a significant statement of expansion and confidence in the market. The new address in this world-renowned island will allow the…
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Thailand ‘slightly impacted’ from a no deal Brexit
The EU has agreed to postpone Brexit from next Friday and give UK PM Theresa May time to get her deal approved in Parliament. The PM had hoped to persuade the EU to delay the March 29 Brexit date, set in law, to June 30. But the EU country leaders have offered her two dates… A delay until May 22…
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Doubt over ‘majority support’ in survey about drilling near Si Thep historical park
Locals are up in arms about results from a public hearing into oil drilling project near the Si Thep historical park in Phetchabun province (just north of Bangkok). They are expressing doubt and concern over results of a public hearing that appear to show support for the project. Thai PBS reports that Mr. Prachuab Narkthien, chairman of the club of…
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People have short memories. Why the Boeing 737 MAX will survive the current crisis.
If history is anything to go on people’s current fears about the Boeing 737 MAX jets will be short-lived. The make0ver of the venerable 737 plane, the most popular passenger jet in history, was supposed to set Boeing on a path to success. Airlines said it was the plane they wanted – perfect for short-haul, cheap to run, new efficient…
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King Power’s duty free monopoly under review
King Power Duty Free’s monopoly of duty free concessions at some of Thailand’s busiest airports may be coming to an end. The Thai PM has warned against the “monopolisation” of the country’s airport duty free sector ordering a review of the auctioning process that could threaten the multi-billion-dollar empire of current concession holder King Power. Thailand expects to welcome over…
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Bangkok now in the Top 10 list for most expensive Asian locations for expats
Bangkok has, for the first time, made it into the list of Asia’s top 10 most expensive locations for expats. A rise in average rental prices this year caused by an influx of expats from China and an increase in tourism traffic have hit expats and put the city in 10th place on the annual list, with an average US$3,880…
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Almaty Governor from Kazakhstan visits Phuket
PHOTO: Almaty Governor Mr Batalov Amandyk Gabbasovich presents Phuket’s Governor with an ideal gift The Governor of Almaty city in Kazakhstan dropped in on Phuket’s Governor today for discussions on tourism, investment and culture exchange as a new Sister City. This morning Phuket’s Governor Phakkaphong Tavipatana welcomed Almaty Governor Mr Batalov Amandyk Gabbasovich from Kazakhstan at the Phuket Provincial City…
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Honda projects lower motorcycle sales for 2019
Honda Motor Company, the manufacturer of nearly 80% of Thailand’s motorcycles, is projecting another annual loss this year. New motorcycle sales this year are forecast to drop nearly 4% year on year to 1.72 million units. The forecast is unchanged from its January projection. The baht’s appreciation against the US dollar is leading to fluctuations in exports and lower prices…
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Top 5 Phuket (and Thailand) hotel trends for 2019
by Bill Barnett Moving through high season in 2019, hoteliers are starting to look for strategies for the rest of the year in order to not be reliant only on volatile mass markets. The following is C9 Hotelworks read on key trends for the year. Pressure On Demand – Good Hotels Perform, Others Left Out Diving into the numbers, the reality is that…
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Phuket hotels under pressure to perform
by Bill Barnett C9 Hotelworks Despite registering a record high 9 million passenger arrivals at the island’s gateway international airport in 2018, performance data is indicating that a slowdown in its double-digit growth rates over the past few years is on the horizon for Thailand’s resort destination of Phuket. While airport arrivals grew 8% year-on-year, the gains posted were at…
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Bangkok Airways spending 3 billion on new planes, airports
PHOTO: A Bangkok Airways ATR 72-600 dwarfed by a Thai Airways ‘jumbo’ Bangkok Airways is putting aside 3 billion baht to finance two new aircraft to support their growing passenger numbers. The local airline is forecasting a 3% growth in bums-on-seats this year to over 6 million passengers. The airline’s CEO says they hope to purchase two new ATR 72-600…
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Burn baby burn – The Netflix cash strategy to stay on top
Netflix, the online TV streaming service, is gaining more viewers in the US and around the world, but is burning through astonishing amounts of cash in producing new content. In 2018 Netflix churned through $3 billion in losses. Negative cash flow that accelerated to $1.3 billion in Q4, more than double the year before. But it’s all a part of…
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Go-Jek begins services in Thailand, challenging Grab
Indonesia’s Go-Jek ride-hailing service has now started up in Thailand under the banner ‘GET’. Nadiem Makarim, the founder and CEO says they will continue to move into the regional market currently dominated by Grab. Go-Jek, Indonesian for motorbike taxis (sort of), has launched in Thailand as ‘GET’ and will concurrently build presence in The Philippines through a recent financial-tech acquisition. The launch…
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Huawei continues investing in Thailand
PHOTO: Huawei president for SE Asia, James Wu during media conference at MWC 2019 in Barcelona, Spain. by Somluck Srimalee, The Nation Chinese tech giant Huawei Group has set aside an investment budget of US$81 million (2.5 billion baht) for Southeast Asia towards ICT enablement from 2019-21, focusing on OpenLabs, enabling cloud developers and cultivating ICT talent, James Wu, said.…
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Strong baht a concern for Thai hotel sector
by Bill Barnett Thailand’s baht performance against Asian currencies in 2018, was unmatched, with the exception of the Japanese yen. Commenting on the trend financial news Bloomberg have highlighted that in 2019, a further 4% in growth this year have it sitting at the top of the table. Oddly, one of the underlying factors stimulating the baht’s appreciation is the…
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Plastic surgery furore and first transgender contestant at Miss Universe in Bangkok
PHOTO: Spain’s Angela Ponce becomes first trans woman to compete for Miss Universe After the beauty dust has settled and the glitter is wiped away, it seems all is not well with the latest Miss Universe Pageant. Taking place in Bangkok recently, new revelations have surfaced surrounding one of its entrants and, notably, her plastic surgeon. Aesthetic and rhinoplasty surgeon,…
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Thai exports fall 5.7 percent in January, year-on-year
Thai export results have dipped for the third straight month, falling more than 5.65% compared to a year earlier. The fall was a lot bigger than expected, according to the Thai commerce ministry. Shipments contracted 1.72% in December, compared to a year earlier as well. January’s export drop was due to falling shipments of rice, gold, electronics and cars, according to the…
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Thailand’s sponsorship market grew 19% – 2018
ASN (Asia Sponsorship News) has just released its Sponsorship Market Overview for Thailand 2018. Local agencies have had their say on the performance of the Southeast Asian sponsorship marketplace. 2018 was a robust year for Thailand’s Sponsorship market, growing 19% year-on-year to US$223.4 million (2017’s total investment was US$188.2 million) and making grounds on reaching its previous (outlier) market peak of…
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Man arrested over 50 million baht scam
A man has been arrested for allegedly defrauding around 100 stock market investors of about 50 million baht. Pol Lt Gen Suchate Hakparn, the Immigration Bureau chief who also heads the economic crime centre, says 52 year old Jittaraphon Nisarat was arrested on Tuesday at his apartment in Bangkok’s Phra Khanong district. Surachate says Jittaraphon was arrested under a warrant…
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Thai baht surges against weakening US dollar
The Thai baht is soaring to its highest level against the US dollar in more than half a decade. Analysts are expecting the Thai currency to continue marching past the 31 baht to the US dollar mark. Currency experts believe the baht’s strength could be partly due to the weakness of the US dollar as investors speculate on the current…
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Airbus scales back in the UK and invests more in Thailand’s new aviation maintenance hub
by Supalak Ganjanakhundee Uncertainty over Thailand’s political situation is apparently less of a concern for Airbus than the political uncertainties in the UK with Brexit looming. Whilst Airbus is pulling out some of its manufacturing in Britain, the European consortium is now looking to Thailand for new maintenance and repair facilities to help service the rapidly growing ASEAN aviation sector.…
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Co-working space – not just for start-ups
PHOTO: HUBBA-TO co-working space in Bangkok by Thanchanok Phobut | Senior Coordinator, CBRE Thailand CBRE, an international property consultancy company, reveals that co-working space seems to be on the tip of everyone’s tongue these days. There was a time when no-one knew what the term “serviced office” meant or why someone would want such an option. But today, you can’t…
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