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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What do you need before moving from the US to Thailand?
The Thaiger key takeaways The most common medical emergencies for expats in Thailand include motorcycle accidents, tropical diseases, and food or water-borne illnesses. Air pollution and heat-related conditions like heatstroke also pose serious seasonal health risks, especially in northern and...
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Thailand and EU prepare for signing of a strategic trade partnership
Thailand and the European Union are ready to sign a draft Strategic Partnership and Cooperation Agreement to promote bilateral trade and investment in the future. Federica Mogherini, an EU Representative for Foreign Affairs and Security Policy, and vice chairwoman of the European Commission, met today with PM Prayut Chan-o-cha during her visit to Thailand to attend the ASEAN Plus Foreign…
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Ananda development pulls the plug on Bangkok condo project
Property developers Ananda Development have pulled the plug on the development of a condo project, Ideo Q Phahon-Saphankhwai, valued at 10 billion baht, and will refund down-payments made by customers who booked units since the April launch. Ananda Development’s chief strategy officer Sumeth Ratanasrikul says that the demand to buy the project at that location didn’t match with the concept design. “Since…
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Thailand’s baht is getting stronger, and that’s a problem
Since the beginning of 2018, Thailand’s currency has jumped more than 5% against the US dollar. Year-on-year it’s bounced up nearly 8%. The Thai Central Bank may be forced to cut rates to curb the popular currency. The Thai baht continues to soar against the USD this year, significantly more than many other emerging market currencies. But the flexing Baht muscle…
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British Pound was close to the worst performing currency in the world
Nigel Green, the founder and CEO of the deVere Group, a leading independent international financial consultancy, says the GBP (Pound) is going to continue to be battered and bruised in the short-to-medium term, no matter who is leading the political fray. He spoke out after the Sterling dropped more than 4% yesterday in its worst performance since October 2016, based on…
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Thai Airways needs restructuring to survive
Store your tray table and buckle up. It’s going to be a bumpy ride at Thai Airways. The airline’s president Sumeth Damrongchaitham say Thai Airways needs complete restructuring if it is to survive in the highly competitive aviation business. Sumeth said that under the restructuring, Thai Airways will focus more on the international market and link up with other members…
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Thailand’s headline inflation surged over 1% in March
“The SCB Economics Intelligent Centre has revised down its forecast for average headline inflation in 2019 to 0.9% year on year, a slight decline from the previous forecast of 1.0%year on year.” Thailand’s headline inflation surged to 1.24%, year on year, during March. This is up from 0.73%, year on year, in the previous month. Food and energy prices are the…
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400 baht minimum daily wage worries Thai business chamber
The Thai Chamber of Commerce is raising concerns over the government’s proposal to raise the minimum daily wage to 400 baht. They say it will severely hit the country’s small to medium businesses. Chamber chairman Kalin Sarasin says they have been discussing the proposal with Chamber members and business operators discussions with many business operators. They found that most of…
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Thai PC and notebook sales set to increase 5% in second half of year
The market for personal computers and notebook computer will grow around 4.7% in the second half of this year, as students, gaming and e-sports continue to drive growth The prediction from marketing director at Acer Computer, Nitipat Praweenwongwuthi. Acer recently conducted a survey into the needs of computer users and found that about 50% of customers who purchase gaming computers will…
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International credit rating agency gives Thailand a BBB+ economic report card
Fitch Ratings has revised its outlook on Thailand’s Long-Term Foreign Currency Issuer Default Rating to “positive” from “stable” and upgraded the rating to BBB+. The revision reflects increasing international economic confidence that lingering political risks are unlikely to derail “sound macroeconomic management”, according to the international credit rating agency, Fitch. “This is demonstrated by the sustained strength of external and…
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Economists predict Thai exports could fall 3.1% this year
Economists are forecasting that Thailand’s exports will drop by up to 3.1% for 2019 after June figures fell when compared to the same period last year. After the Commerce Ministry reported a 2.1% fall in June, the SCB Economic Intelligence Centre projected the country’s exports will drop this year by between 1.6-3.1%. “Although the US-China trade meeting after the G20…
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TMB – strong baht hits foreign investment funds
TMB Bank are reporting that the strong baht has cut the value of the foreign investment fund under fund management, falling by 27 billion baht from 1.2 trillion baht at the start of the year. TMB said the drop reduced the fund’s return by 0.47%. The least impacted funds are those covering oil investment, gold, and property funds, at 0.53%,…
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Co-working spaces in Bangkok are re-shaping small to medium business office options
PHOTO: The Great Room Co-working spaces are opening up around Bangkok and providing a more flexible framework for businesses to grow. Advances in technology, a more mobile workforce, and unpredictable economic growth are reshaping the business environment. In the Bangkok office market, a traditional three-year lease with options to renew and the tenant fitting out the space remains the typical way…
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Phuket’s Banyan Tree celebrates 25 year anniversary with new Serenity Villas
2019 is a year of celebration for Banyan Tree Phuket, with the resort offering two brand new villa categories, as part of its year-long 25th anniversary celebration. In September this year, the iconic Banyan Tree Phuket, the flagship property for Banyan Tree Hotels & Resorts, will celebrate 25 years as Phuket’s premier holiday resort. The festivities will include the release…
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Thai Airways close to sale of used planes to US company
PHOTO: Thai Airways Airbus A340, Airplane Pictures Thai Airways International President Sumeth Damrongchaitham reports that the national airline expects to sign an agreement this month with a US logistics firm on the sale of eight used A340 aircraft worth between 4-4.5 billion baht. The company is in the process of examining the contract before closing the sale deal of Thai Airways…
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Bank of Thailand sends a ‘warning shot’, but little impact
PHOTO: Chiang Rai Times “The Bank of Thailand’s move to curb the rising baht is simply a “warning shot” and will have little impact on the currency’s value or on the bond and stock markets.” This is the response from Thai economists following Friday’s BOT tweaking of the economic dials. On Friday the BOT adjusted down the amount of baht…
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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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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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Somkid says new Thai Government will speed up stimulus spending as growth falters
PHOTO: The Nation Somkid Jatusripitak, a day after being officially announced as a Deputy PM and head of the finance ministry, says he will speed up investment in key infrastructure projects to boost the country’s growth rate to 3.5% for the rest of 2019. “I have confidence we can manage the country’s economy under the coalition government to boost its…
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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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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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Chiang Mai hotels battle disruptors
by Bill Barnett Thailand’s northern tourism hub of Chiang Mai has become a victim of its own volume-driven success. According to hospitality data provider STR, market-wide hotel occupancy for the first five months of the year is down 5.1%, compared to the same period in 2018. In the newly released C9 Hotelworks Chiang Mai Hotel Market Update, the comparison between…
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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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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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High-speed rail airport link contracts to be signed next month
The Eastern Economic Corridor Policy Committee has reported progress in the high-speed rail project to link three airports (Suvarnabhumi, U-Tapao and Don Mueang), and the Map Ta Phut industrial port development project. Contracts for both projects are expected to be signed between state firms and private concessionaires in July. The Eastern Economic Corridor Policy Committee, chaired by PM Prayut Chan-o-cha,…
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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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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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