Search Results for: oil prices
- Business News
Nex point projects commercial EV sales to hit 5,556 by 2024
Nex Point, a SET-listed local assembler of commercial electric vehicles (EVs), is forecasting sales to hit 5,556 units by the end of 2024. This projection stems from an increased demand from businesses operating in the transport and logistics industries. A rise in such interest is tied to these sectors’ growing commitment to lower carbon emissions. Between January and September of…
- Health
Your guide to meditation retreats in Thailand
Thailand’s serene landscapes and rich cultural tapestry make it a sanctuary for those in pursuit of tranquility and self-discovery. Meditation retreats in this enchanting country offer more than just a break from daily life; they’re gateways to inner peace and personal transformation. Immersing oneself in the ancient Buddhist practices of mindfulness, or exploring modern integrations of yoga and meditation, visitors…
- Business News
Thai ministry propels rice trade growth with G2G agreements
The Ministry of Commerce in Thailand is set to discuss the potential sale of a massive 1 million tonnes of rice to Indonesia tomorrow, under a government-to-government (G2G) agreement. This comes with a commitment to further engage in similar discussions about rice sales with China. Commerce Minister Phumtham Wechayachai revealed that the head of the Foreign Trade Department has been…
- Thailand Cannabis Guide
The beginner’s guide to buying cannabis in Thailand
So, you’re in Thailand and have decided to try out the now legal cannabis. But how exactly do you go about it? Is it as simple as walking into any dispensary you see? How do you make sure you’re choosing the right product? It’s natural to feel a bit uncertain when you’re stepping into the cannabis world for the first…
- Things To Do
Pamper your body and soul in these 5 best spas in Chiang Mai
From the moment you arrive in Chiang Mai, Thailand, you can feel the sense of wellbeing and relaxation that has earned it its reputation as a wellness capital. But this city does not just bring about feelings of peace and contentment; it’s also home to some of the best spas in South East Asia. No matter how you like to…
- Property
Can foreigners buy property in Thailand? A comprehensive guide
Thailand has more than its vibrant street food and bustling city life that captivates the hearts of many foreigners. The possibility of a permanent stay becomes quite appealing, which begs the question – can foreigners buy property in Thailand? Buying property in Thailand as a foreigner can be tricky. But don’t worry. In this guide, we’ll give you all the…
- Thailand News
Power play: Energy minister’s plan sparks potential for across-the-board cost cuts
Energy Minister Pirapan Salirathavibhaga unveiled a plan that could slash energy costs across the board. Pirapan declared yesterday, January 3, that a paradigm shift is imminent in the gas supply sector, aiming to empower power producers and significantly cut down on electricity expenses. The key? A strategic merger of gas pools to unleash a domino effect that could alter the…
- Business News
PTT helps Thai government lower power tariffs using contract breach fine
PTT Plc, Thailand’s national oil and gas conglomerate, is slated to assist the government in lowering the power tariff in the early part of next year. This is to be achieved through the utilisation of 4.3 billion baht (US$124) from a fine imposed on its gas supplier for a breach of contract, according to an energy official. An inside source…
- Business News
Bangkok’s mobile grocery stores to ease living costs
The Ministry of Commerce remains steadfast in its mission to operate mobile grocery stores across Bangkok and its neighbouring provinces, to alleviate the cost of living. Goranij Nonejuie, the Deputy Director-General of the Internal Trade Department, confirmed the continuation of the mobile grocery store initiative, now entering its fifth year of operation. The initiative will see deployment in over 100…
- Business News
Rice production crisis forecast: Dry woes, dwindling waters, and El Nino brew trouble
Asian rice production during the off-season is predicted to suffer due to a blend of unfavourable weather conditions including dry planting, dwindling reservoirs and ongoing El Nino weather patterns. These issues are due to reduce the early 2024 yields, further squeezing supplies and potentially causing a rise in food inflation. Both India, the world’s largest rice exporter and Thailand, the…
- Thailand Travel
The best places to live in Thailand for nature lovers
Thailand is one of the most beautiful countries in the world, and immigrants can vouch for that claim. Here, settling down comes with many choices as travellers can either venture up north to the beautiful mountainside and Golden Triangle or choose an island vibe down south. Regardless of where you want to live, the Kingdom offers great accommodations and a…
- Economy News
Thai economy rebound: PM unveils bold plan to tackle challenges
Prime Minister Srettha Thavisin outlined a comprehensive plan to tackle pressing economic issues in Thailand spanning agriculture, industry, and debt-related concerns. He unveiled his intentions during a keynote speech at The Standard Economic Forum, stating that the Thai economy’s current state is a subject of contention between himself and the Bank of Thailand’s governor. Despite the debate, the Thai PM…
- Business News
New ESG fund could boost Thai stocks by up to 70 billion baht
Analysts predict that a forthcoming environmental, social and governance (ESG) fund could draw investments of between 20 and 70 billion baht into 114 stocks listed on the Stock Exchange of Thailand’s (SET) ESG index this year. The long-term savings fund, which is set to be established later this year, will be focused on investing in domestic ESG stocks and bonds.…
- Business News
The Energy Ministry crackdown on petrol retailers stockpiling fuel after price cut
The Energy Ministry has pledged to take stringent action against oil retailers found to be illegitimately stockpiling fuel. This decision comes in response to complaints about a sudden shortage of oil at petrol stations, following the government’s decision to lower the prices of gasohol 91 and gasohol 95. On the morning of November 7, petrol stations across the nation began…
- Business News
CNG vehicle operators demand fuel price cut amid falling petrol costs
Transport operators providing services with compressed natural gas (CNG) vehicles are pushing for a price cut in fuel from the government following a decrease in diesel and petrol prices, inclusive of a recent 2.5 baht per litre drop for Gasohol 91. A group of operators, including those of passenger vans, congregated in front of the Energy Ministry yesterday, November 2,…
- Things To Do
Top 5 diving schools in Koh Samui
Divers in Koh Samui are spoilt for choice thanks to its variety of dive sites. These spots, characterised by vivid reefs, corals, and underwater seamounts, are a diver’s dream. Furthermore, the islands’ waters are rich in marine life, home to majestic whale sharks, fish, manta rays, and more. Fortunately, with the help of Samui’s diving schools, exploring these terrains is…
- Business News
Thai government’s policy paradox: Digital wallet scheme and minimum wage hike under fire
The Thai government of Prime Minister Srettha Thavisin has faced significant challenges since coming to power seven weeks ago, with various commitments made during their campaign now under scrutiny. A crucial task includes the repatriation of Thai citizens affected by the Middle East conflict and the ongoing Israel-Hamas unrest. The Thai government’s promise to hike the daily minimum wage to…
- World News
Rubber’s forest fury: Southeast Asia’s deforestation problem worse than thought
The rampant deforestation caused by rubber production in Southeast Asia could be much higher than anticipated, potentially two to three times the current estimates. This alarming discovery is a significant concern for importers who are under increasing pressure to source sustainable supplies, as revealed in a recent research study. Global demand for rubber is on the rise, leading to an…
- Business News
Thong Fah outlets to join online food delivery platforms for cheaper fare
Future talks are in the works between the Internal Trade Department and multiple food delivery platform operators such as Thong Fah food outlets. The goal is to integrate Thong Fah (Blue Flag) outlets into their online systems. These outlets sell food at low prices, potentially helping customers save on daily food costs. Wattanasak Sur-iam, the Internal Trade Department’s director-general, revealed…
- Thailand News
El Niño could trigger three-year rice shortage, warns Thailand’s Commerce Minister
Commerce Minister Phumtham Wechayachai expressed worries over a potential three-year-long impact of the El Niño-induced drought. This prolonged effect could potentially harm rice production and create a shortage in domestic consumption. Phumtham commissioned the Internal Trade Department and Foreign Trade Department to jointly monitor and alleviate the potential impacts of the El Niño phenomenon and the ensuing drought. He voiced…
- Business News
Inflation squeeze: Investors seek assets that outinflate rising costs
The recent surge in inflation has had a profound impact on the investment landscape, leading to an increase in product prices and living costs. These conditions require investors to strategically select assets that can generate returns that beat inflation. One such investor, Phongthorn Thavontanakul, founder and CEO of Lief Capital Asset Management, shared his insights on investments that can weather…
- Business News
Thai CEOs discuss sustainability’s key role in supply chain survival at SX2023
The Sustainability Expo 2023 (SX2023) has illuminated the essential role of sustainability in successful supply chain networks. The Thailand Supply Chain Network (TSCN) Business Partners Conference, also known as the TSCN CEO Panel, took place at the Queen Sirikit National Convention Center as part of the ongoing expo. The key topic of discussion was the self-application of sustainable practices for…
- Economy News
Weakening baht boosts Thailand’s exports and tourism
Thailand Prime Minister Srettha Thavisin pointed out yesterday that the weakening baht, despite its potential negative impact on energy import costs, is actually proving to be a boon for the country’s exports and tourism. The baht had earlier plummeted to an 11-month low against the US dollar, trading at 37.095. According to the 61 year old prime minister, who also…
- Business News
Price plunge extravaganza: Nationwide cuts on products and services to boost Thailand economy
A nationwide price reduction on over 150,000 products and services, ranging up to an 87% discount, has been declared with immediate effect in Thailand until the end of December. This is part of the government’s Quick Win policy initiative, aimed at reducing costs, boosting the economy, and expanding business opportunities, stated Commerce Minister Phumtham Wechayachai. The agreement, reached yesterday, involves…
- Business News
Thai govt’s shocking move: Sparks fly as power tariff gets a jolt down
The Thai government, under the leadership of Srettha Thavisin, has swiftly approved a plan to lower the power tariff, with the goal of reducing electricity bills for the public. The tariff rate has been revised from 4.45 baht to 3.99 baht per kilowatt-hour, applicable from September to December this year. However, for a long-term solution to high electricity costs, a…
- Business News
Thai stocks fall 1.3% amid fears of high interest rates impact
Share prices experienced a surge on Friday, reversing earlier downtrends and Wall Street’s sell-off, as traders weighed the implications of further interest rate hikes by central banks grappling with inflationary pressures. Thai stocks fluctuated between 1,503.23 and 1,539.40 points before ending yesterday at 1,522.59, marking a 1.3% fall from the previous week, with daily transactions averaging 52.06 billion baht. Retail…
- Tourism News
Srettha Thavisin to bolster Thai-Chinese tourism, bilateral ties in China visit
Prime Minister Srettha Thavisin is slated for a diplomatic visit to China from Oct 8-10 to negotiate on 10 pivotal issues, among which strengthening bilateral relations and enhancing Thai-Chinese tourism cooperation take precedence. The announcement came yesterday during his visit to Chiang Mai, where he also hinted at the renewal of the Thai-Chinese memorandum of understanding on the loaning of…
- Thailand Weather Updates
El Niño’s unexpected twist: Industries in hot water as mining and livestock hit hard
El Niño’s weather anomaly is triggering a ripple effect on industries beyond just agriculture with mining and livestock sectors also feeling the pinch. This is according to a new study by the Trade Policy and Strategy Office, which warns that the phenomenon may lead to a surge in prices for consumer goods, energy, and inflation, compounded by an increase in…
- Business News
Thai shippers’ council forecasts export decline amid sluggish global demand
The Thai National Shippers’ Council (TNSC) predicts a 1% decline in exports for the current year, down from their previous estimate of a contraction between 0.5% and a 1% increase. This revision is due to ongoing sluggish global demand. TNSC Chairman Chaichan Chareonsuk stated that Thailand’s export sector is expected to decline by -1% or more this year due to…
- Crime News
Russian the stakes: Phuket locals furious over illegal job grabs and shady businesses
Residents and business owners in Phuket are furious over the increasing number of Russians who have settled on the island, taking jobs, operating businesses illegally, and introducing prostitution exclusively for Eurasians. The surge in Russian arrivals, estimated at around 400,000 between January and July of this year, has stirred resentment among the Thai community, leading to calls for action against…
