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- World News
Amid economic turbulence, Malaysia’s illicit trade crackdown must stay the course
After an economically disappointing 2023, Malaysia faces further headwinds due to global economic and political uncertainties. New research published in late March has identified the country’s East Coast Rail Link (ECRL) among the Southeast Asian megaprojects affected by a $50 billion gap between China’s Belt and Road Initiative (BRI) commitments and delivery for the region. Reflecting the broader ASEAN growth…
- Business News
Thai govt plans huge digital wallet handout to boost economy
The Pheu Thai Party government, led by Prime Minister Srettha Thavisin, is set to roll out a massive digital wallet handout scheme worth 500 billion baht (US$13.75 billion) in the fourth quarter of this year. The scheme, which is designed to stimulate economic activity, involves transferring a sum of 10,000 baht (US$275) to 50 million Thai citizens, intended to be…
- Thailand News
Airfares drop for popular domestic routes ahead of Songkran
Transport Minister Suriya Juangroongruangkit announced a decrease in airfares for three popular domestic routes by 3.8% to 14% starting this Friday, in line with the Songkran festival. The fares for the six airlines offering flights between Bangkok and Chiang Mai, Krabi, and Phuket have been set at a maximum of 3,000 baht (US$80) per one-way trip. The anticipated fares for…
- Business News
Thai banks’ loan jitters: ITD woes prompt provision provisions
Two major Thai banks, Siam Commercial Bank (SCB) and Krungthai Bank (KTB), have set aside provisions for possible loan losses related to Italian-Thai Development Plc (ITD), one of the nation’s foremost contractors. Provisions have been determined using a forward-looking expected credit loss (ECL) framework, according to Arthid Nanthawithaya, chief executive of SCB X, SCB’s holding company. Despite economic uncertainties and…
- Business News
Splashy Songkran: Thai restaurant sales set to surge despite economic lull
Looking ahead to the upcoming Songkran festival, a trade group predicts a boost in restaurant sales during the second quarter, which could potentially surpass pre-pandemic levels, despite the current stagnant economy. Thaniwan Kulmongkol, President of the Thai Restaurant Association, noted that although the second quarter is typically a slow season for the Thai restaurant industry, the Songkran festival is expected…
- Thailand News
Dusit International urges government to boost quality tourism in Thailand
Dusit International Vice Chairman Chanin Donavanik urged the government to focus on enhancing the quality of tourism and encouraging exploration of lesser-known destinations to boost the industry. Chanin believes the government’s existing tourism promotion policies, including visa-free schemes and luxury tax reductions, are effective. Chanin, who also serves as the executive committee’s chairman, highlighted several areas for the authorities to…
- Business News
Chevron abandons operations in Myanmar’s Yadana gas field
In an unprecedented move, Chevron, the US energy giant, has abandoned its operations in the Yadana natural gas field in Myanmar, as confirmed by a company representative. This decision comes over two years after the corporation expressed concern about the violence and human rights violations in the military-controlled nation and declared its intention to withdraw. The 41.1% stake in the…
- Business News
Chinese automaker Hozon aims to double its EV sales in Thailand
Hozon New Energy Automobile Co, a Chinese manufacturer operating as Neta Auto, has set a target to double its electric vehicle (EV) sales in Thailand to 30,000 units this year. The announcement was made during last month’s Bangkok International Motor Show. The company’s swift rise in popularity in Thailand, a market previously dominated by legacy automakers, is a testament to…
- Thailand News
Enigmatic white insect sparks learning frenzy on Thai social media
A recent social media post sparked curiosity and learning among netizens after one user shared an image of an enigmatic white insect, discovered in sandy soil, prompting a flurry of guesses and expert identification. The post, which was shared in a Facebook group dedicated to identifying mysterious creatures, depicted a small, white insect with long antennae. The uploader, seeking insights…
- Hot Property
Discover the pinnacle of beachfront luxury: Why InterContinental Residences Hua Hin is the ultimate investment
Known for its breathtaking blue ocean and serene atmosphere, Hua Hin’s allure dates back to the 1920s when the Royal Family chose it as their summer retreat. Today, it still retains its reputation as an elite playground. Thanks to its seamless blend of modern amenities with tranquil surroundings, it’s a top destination for investors and individuals seeking luxury living experiences.…
- Business News
China’s economic recovery revs up with Ching Ming Festival
China’s economic recovery is gaining momentum, driven by a boost in domestic travel and spending during the recent Ching Ming Festival. The three-day holiday saw a surge of over 10% in domestic travel and spending from pre-pandemic levels. The Chinese Ministry of Culture and Tourism confirmed that over 119 million domestic trips were recorded, exhibiting an increase of 11.5% compared…
- Thailand News
Thai PM announces feasibility study for Samui Airport expansion
Prime Minister Srettha Thavisin announced yesterday that a feasibility study for the expansion of Samui Airport is currently being conducted. The proposed expansion aims to accommodate larger aircraft and an increasing number of visitors. PM Srettha, accompanied by Tourism and Sports Minister Sudawan Wangsuphakijkosol and Deputy Agriculture Minister Chaiya Promma, conducted an official visit to the airport as part of…
- Business News
Maybank’s bet: Thailand casinos could hit jackpot, boosting GDP
Maybank Securities, a unit of Malaysia-based Maybank, forecasts that the potential introduction of casinos in Thailand with gambling facilities could yield an annual revenue of 187 billion baht, equivalent to about 1% of Thailand’s gross domestic product (GDP). The forecast, based on an assessment carried out by Maybank’s gaming analyst and tourist arrivals in Thailand in 2019, anticipates the first complex to…
- Thailand News
Bangkok prepares for Songkran with 1,600 safety officers
The Songkran festivities in Phra Nakhon district, Bangkok, are set to have more than 1,600 officials and volunteers on guard. This safety measure is particularly aimed at tourist hotspots like Khao San and Silom roads. The Phra Nakhon District Director, Kosol Singhanat, anticipates a substantial influx of tourists in three key areas during the holiday, namely Khao San Road, Sanam…
- Phuket News
Phuket reservoirs assure sufficient water supply until annual rains
Phuket’s main reservoirs, namely Bang Wad Reservoir, Bang Neow Dum Reservoir, and Klong Kata Reservoir, currently hold sufficient water supplies to service residents and tourist accommodations until the anticipated annual rains arrive next month, according to Phuket officials. This assurance comes from the head of the Phuket Provincial Disaster Prevention and Mitigation Office (DDPM-Phuket), Sophon Thongsai, following his inspection of…
- Business News
Healthy alliance: Thai-US partnership to inject vitality into EEC healthcare
A joint venture is underway between Thailand and the United States, aimed at boosting investments within the healthcare and medical sectors in the Eastern Economic Corridor (EEC). This initiative is designed to support healthcare services for both ageing and young populations while promoting targeted industries. Forecasts from the Thai Health Promotion Foundation indicate a rapid growth trajectory for the medical…
- Tourism News
Thailand sees remarkable tourism boom in Q1 2024
Thailand experienced a remarkable tourism boom in the first quarter of 2024, with the arrival of 9.37 million international tourists, a hefty 44% surge compared to the same period in 2023. The Tourism and Sports Ministry‘s announcement in April, revealed this significant increase, attributing it to the influx of visitors from various parts of the globe. Tourism Minister Sudawan Wangsuphakijkosol…
- Thailand News
Chinese government awards US$4.1m for local projects in Thailand
A robust financial boost of US$4.1 million, equivalent to 151 million baht, is being awarded by the Chinese government to 18 local projects in Thailand. This generous funding is being dispensed under the 2021 Mekong-Lancang Cooperation Special Fund (MLCSF), as revealed by the Ministry of Foreign Affairs (MFA). A total of 106 projects were put forth for consideration by government…
- Thailand News
Myanmar Airways: New routes to Bangkok, Chiangmai and Phuket
Myanmar Airways International (MAI) announced upcoming budget flights from Yangon to Bangkok, Phuket, and Chiang Mai. MAI has unveiled exciting routes and wallet-friendly fares, ensuring seamless travel experiences for globetrotters. Operating 56 flights weekly from Yangon to Bangkok, along with bi-weekly flights to Phuket and thrice-weekly to the new Yangon-Chiang Mai route, adventure-seekers can now explore exotic destinations without breaking…
- Thailand News
Potential Australian trade barrier could impact Thai auto exports
The Thai Automotive Industry Association (TAIA) has issued a warning that a prospective trade barrier, set to be imposed on new cars shipped to Australia next year, may impact auto exports. The trade barrier, known as the new vehicle efficiency standard, is a regulation being developed to limit carbon dioxide emissions per kilometre from new cars sold in Australia, according…
- Thailand News
Former Rayong MFP MP faces legal action from EC
Legal action is imminent for the former Move Forward Party (MFP) MP for Rayong, Nakhonchai Khunnarong. The Election Commission (EC) has moved against him, citing his ineligibility to contest for a House seat. Further, they have demanded that he foots the bill for a consequent by-election. The EC, in their announcement, pronounced that their inquiry into the dispute over Nakhonchai’s…
- Thailand News
Major online gambling operation in Chiang Rai shut down, 3 arrests
Digital Economy and Society Ministry (DE) officers arrested two Thai men and one Thai woman in the northern province of Chiang Rai for an online gambling operation which had a monthly circulation of over 600 million baht. The arrests took place during raids at various locations in Chiang Rai on April 4. These raids followed the execution of nine search…
- Business News
Thailand’s CPI sees sixth consecutive monthly decrease
The consumer price index (CPI) in Thailand has seen a decrease for the sixth consecutive month as of March, as reported by the country’s Commerce Ministry. This marks the 11th month in a row that the CPI has fallen outside the target range set by the central bank, which is between 1% and 3%. March’s CPI dropped by 0.47% compared…
- Thailand News
Political inferno: Move Forward Party risks dissolution
In a fiery political clash spanning over 36 hours, the fate of Thailand’s Move Forward Party (MFP) hangs by a thread, as the government mulls over dissolution. Amidst gripping revelations and bold declarations, former leader Pita Limjaroenrat takes a stand, challenging the very essence of democracy. Former MFP chief Pita Limjaroenrat delivered a resounding message, affirming his unwavering stance against…
- Thailand News
Thai airports expecting a surge in arrivals during Songkran
During the Songkran festival, around 2.61 million passengers are expected to be welcomed across six Thai airports, as reported by the Transport Ministry. This forecast was made by Transport Minister Suriya Juengrungreangkit following a recent meeting. Suriya highlighted that the ministry had issued directives to the Airports of Thailand (AoT), as well as all other transport-related agencies, to prioritise passenger…
- Thailand News
Russian man arrested in Pattaya for illegal trade linked to a suicide
Economic Crime Suppression Division (ECD) officers arrested a Russian man at a luxury penthouse in Pattaya yesterday for allegedly running an illegal trade, which led to the suicide of a Thai woman. ECD officers arrested the 40 year old Russian man, Alexey Vegman, at his penthouse yesterday, April 4 on an accusation of illegally trading. Vegman reportedly denied all allegations…
- Thailand News
Government’s debt hike prompts caution from agencies
Ratings agencies issued cautionary statements following the surprise decision this week by the government to increase its debt in a bid to stimulate the economy. The move, which may compromise the government’s fiscal consolidation efforts, is likely to stimulate short-term growth. The medium-term budget plan was revised by the Cabinet on Tuesday, causing a rise in the deficit next fiscal…
- Thailand News
Thai government accused of ignoring call centre gangs problem
The Thai government came under fire from the opposition Move Forward Party (MFP), who accused them of reneging on their commitment to eradicate call centre gangs. These criminal outfits, operating from across the Thai-Myanmar border, are becoming an escalating menace to Thailand and beyond. List-MP of the MFP, Rangsiman Rome, suggested that the government’s seeming indifference to the widespread issue…
- Business News
Thai bond defaults to stay below 1% in Q2, predicts ThaiBMA
The Thai Bond Market Association (ThaiBMA) forecasted a low probability of bond defaults in the forthcoming second quarter, with the total default value expected to fall below 1% of the entire outstanding market value. Ariya Tiranaprakit, Executive Vice President of ThaiBMA, revealed that the trend of deferring bond payments gained traction in the aftermath of the pandemic, largely induced by…
- Press Room
Grand opening of SO/ Maldives marks milestone in CROSSROADS Project
S Hotels and Resorts PCL, the international hospitality company from Singha Estate PCL, has celebrated the grand opening of SO/ Maldives, which becomes the third luxury lifestyle resort at CROSSROADS Maldives, the Indian Ocean’s first and only fully-integrated leisure destination. The Company’s strategic investment in this glamorous new fashion-led retreat marks the completion of CROSSROADS Maldives and the resort is…
