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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Opinion: Thailand’s choice – standing at a crossroads over foreign investment
Mark Kent has been British ambassador to Thailand since August 2012. Prior to that he spent a year learning Thai at universities and language schools in Bangkok, Chiang Mai and Khon Kaen. He is also an alumnus of the King Prajadhiphok’s Institute course in Politics and Governance. Mark comes from Lincolnshire. He has a degree in Law from the University…
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What to do when interest rates rise
PHUKET: IT IS widely believed that history does indeed repeat itself. What was true in the past is most likely to be true today and in the future. Sure, the events and names of companies change, but general economic principles will apply. When it comes to investing, one of the most important things for investors to understand is long-term interest…
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Phuket finance: Staying the course
PHUKET: Retirees have really been given a raw deal by the global financial system ever since the big banks created the mess that led to the financial crisis in 2008. Since then, the banks have been bailed out and the economy has been on life support, at the expense of those trying to live on the fixed income they worked…
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Uber taps Phuket taxi cash flow
PHUKET: Until the National Council for Peace and Order (NCPO) made historic efforts to sweep Phuket clear of local taxi mafias that had long tainted the island’s international reputation, there were rarely rays of hope for the island’s public transportation system. However, this week, another major player has stepped up to provide the millions of tourists that holiday in Phuket,…
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Don’t buy shares of Alibaba… yet
PHUKET: Over the past several weeks, my phone has been ringing off the hook from clients wanting to get in on the Alibaba IPO. I told each of them the same thing: “wait”. There was a lot of hype leading up to the IPO, and it’s the same situation as when Facebook went public. Being patient and waiting are two…
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With a fascinating past, the future looks great for Phuket’s own coffee brand
PHUKET: It has been 56 years since Cheng Long opened his Hock Hoe Lee coffee store in Phuket Town – and according to Ruengrit “Oh” Petchvorakul, husband to Cheng Long’s granddaughter and today co-owner of the Hock Hoe Lee brand, the beginnings weren’t that difficult. “All you had to do was to sell good coffee. There wasn’t much competition and…
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Phuket’s marine tourism on AMCHAM agenda [video]
PHUKET: The American Chamber of Commerce (AMCHAM) in Thailand has organized a special forum event focusing on the future of Phuket’s marine tourism industry to be held on November 21. Phuket risks great harm to its reputation as an international tourist destination if a dolphin park is allowed to open here, explained dolphin-rights activist Ric O’Barry in an exclusive interview…
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Phuket tour guides demand action against illegal foreign guides
PHUKET: Dozens of local tour guides calling themselves the “Andaman Guides” gathered outside Phuket Provincial Hall this morning to present a letter demanding serious action be taken by authorities against illegal tour guides working on the island. The letter, which stated that illegal guides were taking the jobs of legal tour guides, was handed over to Phuket Vice Governor Somkiet…
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Dance World gives island residents a place to move their feet
PHUKET: Since opening its doors in 1991, Simon Cabaret has established itself as a must-see show for tourists visiting Phuket. The show draws in visitors who have equal interest in witnessing the flamboyant show, as they have in seeing the deceptively convincing ladyboy dancers. In fact, the show’s website warns patrons that they will leave confused. The cabaret’s owners, however,…
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Etihad Airways appoints new Thailand GM
PHUKET: Etihad Airways, the national airline of the United Arab Emirates, has appointed Dimitrios Karagkioules as general manager for Thailand. Mr Karagkioules, who has more than 20 years of airline experience, takes up the Bangkok-based role after five years as Etihad Airways general manager in Athens, Greece. Before joining Etihad, Mr Karagkioules held a number of Athens-based sales and marketing…
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Bangkok Airways reveals four new direct flights
PHUKET: Bangkok Airways has launched a non-stop daily service linking Phuket and Chiang Mai as one of four new non-stop services for destinations in Thailand and Myanmar. Previously, passengers travelling between Phuket and Chiang Mai had to connect at Suvarnabhumi Airport in Bangkok. Served by an Airbus A320 aircraft with a seat capacity of 162, Flight PG247 departs Phuket at…
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Rubber farmers want more than a subsidy, suspect graft
PHUKET MEDIA WATCH – Thailand news selected by Gazette editors for Phuket’s international community Rubber farmers want more than a subsidy, suspect graft The Nation / Phuket Gazette PHUKET: Leaders of rubber farmers in the South have expressed disappointment with the government subsidy of Bt1,000 per rai, limited to a maximum of 15 rai each. Tossapol Kwanrod, chairman of the…
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Heavyweight bike brands gearing up for Phuket market
PHUKET: Despite a fall this year in Thailand’s overall sales of motorcycles and automotive parts, big-bike sales are continuing to thrive. In Phuket, a relatively new destination for bikes over 500cc, brands like Ducati and Triumph are pushing the companies’ marketing strategies to make their famed machines accessible to everyone. “Ducati’s market strategy is to move toward developing models that…
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Investing time to develop passive income
PHUKET: I recently became involved in marketing products for the health and wellness industry, which follows a very different business model than any I have previously encountered. In fact, the investment consists mainly of time, as start-up capital required is extremely limited. “Human capital” is developed, rather than the standard brick-and-mortar business. The great thing about this style of investing…
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Marketing duo to breathe new life into RPM
PHUKET: A duo of marketing experts have joined the ranks of Royal Phuket Marina to put it back on the Phuket map and in the minds of the island’s residents. “I had forgotten about RPM,” says Ian Spurdle, the marina’s new Director of Sales and Marketing for Luxury Property. “I’ve been in Phuket for 12 years, and have known RPM…
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Phuket property rental platform aspires to clear muddied waters
PHUKET: Being an entrepreneur can be daunting at times. It often entails subjecting oneself – and one’s bank account – to an unknown level of risk and necessitates taking a blind step into the unknown. There are usually no guarantees and failure is a common, yet unwelcome, outcome. “Five months ago we said ‘we are going to come out to…
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Asean Business and Investment Summit to be held in Yangon
PHUKET: The Asean Business Advisory Council (ABAC) has announced that this year’s Asean Business and Investment Summit (ABIS) will be held in Yangon, beginning November 11. The three-day conference, now in its 11th year, will see representatives from both the private and public sectors addressing ways Asean can better leverage its cultural bonds, history and infrastructure growth to promote the…
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Work permit, visa proposals get positive response
PHUKET MEDIA WATCH – Thailand news selected by Gazette editors for Phuket’s international community Work permit, visa proposals get positive response The Nation / Phuket Gazette PHUKET: The Joint Standing Committee on Commerce, Industry and Banking has given an update on its proposals to amend the country’s visa and work-permit regulations, which it says have received a positive response –…
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Villa Market expansion caters to Phuket yachties [VIDEO]
Villa hopes to build on its success at the Boat Avenue shopping street. PHUKET: Villa Market is set to slice off another slab of the imported groceries market in Phuket when it expands to Boat Lagoon. The new branch, set to open in early 2015, is designed to tap into the yachtie-catering market and to position itself as the go-to…
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Don’t let emotions cloud financial judgment
PHUKET: There are two emotions that tend to cloud our collective judgments and cause major swings in the financial markets: fear and greed. They lead to the ever-repeating cycle of boom and bust and are not likely to disappear anytime soon, so gaining a good understanding of them – as well as how they can affect an investor’s financial decision…
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Preparing for retirement
PHUKET: Many expats don’t know where to begin when planning for retirement. The key is getting a head start. While it’s best to start planning as soon as possible, it’s never too late to take control of your finances and your own destiny. This is the first of a three-part series outlining the three critical steps that must be taken…
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Lofty relocation at Boat Lagoon
PHUKET: After 14 years at his original premises overlooking the hard stand at Phuket’s Boat Lagoon in Koh Kaew, Muzza Nordstrand has moved his Canvas Creations to a new loft. “We’re still in the Phuket Boat lagoon, as you drive in from the main road, turn right alongside the football field behind the gas station and you’ll find us in…
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AMCHAM forum sets course for New Phuket
PHUKET: Is Phuket lacking identity? What makes the Phuket brand? How can the island benefit from the current winds of change? These and other issues were addressed at the September 12 AMCHAM forum, titled “The New Phuket”. The latest installment in the AMCHAM seminar series took place at the Angsana Laguna Phuket ballroom and saw a number of speakers, both…
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Tax havens only for the rich
PHUKET: The annual report published by tax relocation specialist Bradley Hackford has recently named the top ten jurisdictions for 2014. They use five criteria in total, which include quality of life, security, geographical location and accessibility, as well as the quality of the economic citizenship program. Sadly, for most, the achievable tax savings make the high sticker price of establishing…
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Phuket startup to launch Formula 1 simulators
PHUKET: Calling all speed freaks and racing fanatics, the opportunity to get behind the wheel of a Formula 1 simulator is nearly within reach at the soon-to-be-unveiled GR Phuket Racing Center in Patong. Slated for an October 1 grand opening, the venue is in the process of preparing the simulators and staff for hordes of eager enthusiasts. The eight simulators…
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Phuket Hotel Association to be the voice of island’s tourism industry
PHUKET: Speakers at the American Chamber of Commerce (AMCHAM) forum yesterday proceeded to create a private enterprise council composed of leaders in the tourism industry in order to develop a single voice and brand identity for Phuket. “[It] all starts with the initiation from us here… People will not listen to just one single person,” said Wichit Na-Ranong, owner and…
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AMCHAM Forum: Staying ahead of the game in the ‘New Phuket’
PHUKET: For the last few decades, Phuket has been evolving into a mainstream, mass-market tourist destination. Now the island’s beaches have undergone extreme makeovers and some even more dramatic changes are on the horizon. “In the aftermath of Thailand’s political crisis, which saw martial law and a nationwide curfew imposed in May, Phuket experienced a sharp drop in visitor arrivals.…
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Qatar Airways to start non-stop services from Doha to Phuket
PHUKET: Qatar Airways will boost services to Thailand with the introduction of non-stop flights to Phuket from October 26. The airline currently serves the Doha-Phuket route daily via a linked service through the Malaysian capital Kuala Lumpur. “The start of non-stop services from Doha to Phuket offers travellers from around the world access to the popular tourist destination in a…
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The magic of compounding interest
PHUKET: This column has previously discussed compounding interest and the magic it can work, and it is the main reason why it is so important to start saving early in life rather than later. Assuming a fixed amount is desired by a certain retirement age – which is not actually recommended financial planning, but serves for demonstration purposes – this…
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Bioplastics break into local market
PHUKET: Dairy Home, a leading dairy producer, has agreed to use bioplastics for all of its yoghurt packaging, in a deal struck with NatureWorks Asia Pacific, an affiliate of PTT Global Chemical, marking significant progress in PTTGC’s aspiration to turn Thailand into a hub of the bioplastics industry in Asia. Dairy Home Managing Director Pruitti Kerdchoochuen said he expected other…
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