Search Results for: lion
- Business News
Thailand’s retail sector expects double-digit growth driven by private consumption and online retail
Anticipating a robust year ahead, Thailand’s retail sector is poised for a double-digit expansion. The growth is primarily spurred by a surge in private consumption and the government’s stimulus measures, such as the Easy E-Receipt tax refund scheme and a boom in online retail. However, the rising cost of living is a cause for concern, as stated by the Economic…
- Thailand News
Thai company sues Chinese coffee chain Luckin Coffee over trademark infringement
Thailand’s 50R Group unleashed a US$290 million (10 billion baht) legal storm against Chinese coffee giant Luckin Coffee. The lawsuit is over alleged economic losses during a trademark dispute that has shaken the caffeine industry. Thailand’s 50R Group claims it legally staked its claim to the Luckin trademark with the Thai Ministry of Commerce in 2020, unveiling stores in December…
- Thailand News
Prince Mahidol award 2023 goes to two American scientists
Her Royal Highness Princess Maha Chakri Sirindhorn yesterday awarded the Prince Mahidol Award for 2023 to two American scientists, Professor Dr Napoleone Ferrara, a medical researcher, and Professor Dr Barry H Rumack, a public health expert. The award is a global recognition of their scientific contributions that have significantly advanced medical treatments. The ceremony took place at the Chakri Maha…
- Thailand News
Thailand’s economic growth labelled underwhelming by government
The economic expansion of Thailand in the previous year and the anticipated growth in the current year have been labelled as underwhelming by the government, referencing a report from the Fiscal Policy Office (FPO). The assertion was made by Chai Wacharonke, the government spokesperson, through a Line chat group created for communication with reporters from the Government House. The FPO…
- Press Room
Thailand’s leading data centre companies forge ‘Thailand Data Centre Council’ for strategic growth
Prominent data centre service providers converged today to officially establish the Thailand Data Centre Council (TDCC) through the signing of a Memorandum of Understanding (MOU). The TDCC is a pioneering strategic alliance, a first-of-its-kind in Thailand, aimed at catapulting the country’s digital infrastructure to unprecedented heights. The founding members of the Thailand Data Centre Council comprise industry leaders, including AIMS…
- Thailand News
Tourism minister presents six proposals to boost ASEAN relations
The Minister of Tourism and Sports received the Cabinet‘s approval for six proposals set to revolutionise ASEAN tourism. The Cabinet’s green light paves the way for Minister Sudawan Wangsuphakijkosol to champion regional partnerships at the 27th Meeting of ASEAN Tourism Ministers in Vientiane, Laos. In an exclusive statement on January 23, Minister Sudawan disclosed the approved documents, each designed to…
- Business News
Rising Red Sea tensions to spike freight rates warns EconThai
Global supply chains are bracing for further potential disruptions, as rising tensions in the Red Sea are projected to escalate freight rates in February, according to the Employers’ Confederation of Thai Trade and Industry (EconThai). The organisation has already noted an increase in freight rates by 1.89 to 2.42 times, a trend expected to persist should the tensions continue. Tanit…
- Business News
Bangkok gears up for eighth round of FTA talks with EFTA
Bangkok is preparing to host the eighth round of free trade agreement (FTA) discussions with the European Free Trade Association (EFTA), scheduled to take place from January 30 to February 2. The Thai government aims to wrap up the negotiations by the middle of this year. Chotima Lemsawasdikul, the director-general of the Trade Negotiations Department, has confirmed that the discussions will…
- Thailand News
Thailand aims to become Asian aviation hub, says Thai PM
Prime Minister Srettha Thavisin outlined plans to transform Thailand into an Asian aviation hub. The announcement was made during his keynote speech at the Thailand 2024 The Great Challenges event. He highlighted the government’s focus on tourism and the introduction of several measures to boost the industry, including reciprocal visa exemption programmes. A reciprocal visa exemption deal will be signed…
- Business News
JKN Global sells 50% Miss Universe stake to Legacy Holding for US$16m
In a bid to deal with its ongoing financial struggles, JKN Global Group Plc, a renowned local media company, has decided to offload a 50% stake in its Miss Universe business. The stake, valued at US$16 million (570 million baht), will be purchased by Legacy Holding Group USA Inc. The group, which is under the control of Mexican businessman Raul…
- Thailand News
Nachat under fire for offhand infidelity quip about singer’s wife
Social media erupted with criticism towards actor Nachat Chantaphan, following the resurfacing of a clip where he seemingly teases Pumpui Pantipa, wife of the famous singer Gavin Duval, about infidelity. The video in question, titled Inside Pumpui 30+ Million Home & Car – Exposing Nikki’s Past Flirtations, dates back to December 2023. It features a lighthearted tour of Pumpui’s residence,…
- Thailand News
Fewer Japanese tourists have visited Thailand in a historic first
Thailand found itself on the flip side of tourism dynamics, experiencing a historic tourism deficit with Japan in the first half of 2023. The numbers tell a startling tale: one million Thais ventured into Japan, while a mere 300,000 Japanese enthusiasts made their way to the tropical haven of Thailand. In a dramatic departure from the norm, Thailand, renowned for…
- Thailand News
Dispute over Thailand’s tallest Thao Wessuwan statue escalates
A contentious dispute has erupted over the world’s tallest statue of the deity Thao Wessuwan, as the landowner, who had initially agreed to a sale, has now backed out. This sudden change has caused confusion and concern among the devotees. In a press conference convened at the Sathan Saphan Bun Association in Rayong Province, 27-year-old Chakkrit, renowned for his charitable…
- Business News
Southeast Asia capitalises on China’s Australian lobster ban
The protracted ban on Australian rock lobsters by Beijing has prompted Southeast Asian countries to capitalise on the opportunity, increasing their seafood exports to China. As the ban continues, the shift in sourcing may become irreversible, experts predict. New Zealand currently dominates the Chinese market for rock lobsters, holding nearly 40% of the total market share, based on data from…
- Pattaya News
Thai naval forces intercept tax-evading oil vessel near Ta Lu Island
An oil-carrying vessel, illegally modified and suspected of tax evasion, was intercepted and detained by the Royal Thai Fleet near Ta Lu Island in Rayong province, in the Gulf of Thailand on Monday, January 22. The incident took place in the Sattahip district of Chon Buri, following a tip-off that led to the naval forces taking swift action. Originally registered…
- Thailand News
Saraburi mayor arrested on bribery allegations involving construction contracts
Prachum Khwanmuang, mayor of tambon Talad Noi municipality in Saraburi province, was apprehended by authorities yesterday, January 23, due to alleged allegations of bribery. Accused of taking a 12% bribe for authorising the payment of construction contracts, his illicit gains are estimated to be around 700,000 baht. The arrest took place in front of Sing Buri Wetchakarn Hospital in the…
- Business News
Chememan signs Khimsar agreement to become major lime producer in India
Chememan Public Company Limited (CMAN), a leading lime producer, inked the Khimsar Agreement with Khimsar Mine Corporation (KMC), marking its initiative to set up a state-of-the-art lime factory in Khimsar, Rajasthan, India. This endeavour positions CMAN on the path of becoming a significant lime producer in India. The agreement was signed with KMC, a fresh entrant in the Indian mining…
- Thailand News
Wealthy heiress found dead in Chanthaburi, police suspect foul play
The mysterious death of a wealthy heiress from a prominent family has shocked the community in Chanthaburi province. Today, early at 6.10am, local police led by Police Major General Phadungsak Raksasuk arrived at the residence, a house behind an old petrol station in Ma Kham district, to investigate the circumstances leading to the untimely demise of 77 year old Panithi…
- Thailand News
TAT holds Amazing Thailand Product event in Indonesia
The Tourism Authority of Thailand (TAT) rolled out the red carpet for the Amazing Thailand Product Update 2024 in Jakarta and Bandung. Aiming to strengthen ties between Thai and Indonesian tourism, this event was more than just a gathering; it was a powerhouse of collaboration. Drawing a crowd of approximately 100 Indonesian tourism wizards in each bustling city, the week-long…
- Business News
Thachang Green Energy projects major expansion by 2026 with new power plants
Thachang Green Energy (TGE), an operator and developer of biomass power plants listed on the Stock Exchange of Thailand (SET), projects a significant business expansion between 2025 and 2026. This growth is attributed to the additional power generation capacity from imminent power plant projects. While no capacity increment is planned for this year, TGE predicts a revenue surge of over…
- Business News
Record-breaking business registrations and foreign investment in Thailand
Business registrations in Thailand soared to an all-time high in the previous year, exceeding 85,000, a figure not seen in the last decade. These registrations represented a total registered capital of 560 billion baht (US$15 billion). Foreign investment also saw a significant rise, hitting 130 billion baht (US$3.6 billion) in 2023, with Japan leading the investment pool. Projections for the…
- Business News
Thailand’s media spending to see 4% growth driven by online and TV
Anticipating a 4% growth in media spending this year, mirroring the trend from 2023, the market is set to be driven by online, TV, and out-of-home media. This predicted growth is attributed to political stability and economic stimulus initiatives introduced by the government. The burgeoning e-commerce platform landscape has catapulted affiliate marketing into a key media tool for brands. This…
- Thailand News
PM Srettha promises to consider opposition’s concerns on Land Bridge megaproject
Prime Minister Srettha Thavisin assured opposition groups that he would take into account their concerns regarding the Land Bridge megaproject. The discussions took place at Suan Sunandha Rajabhat University’s education centre in Ranong, following a mobile Cabinet meeting. The megaproject, valued at 1 trillion baht, is designed to create a logistics network linking Ranong with Chumphon. It consists of a…
- Thailand News
Hotel bookings skyrocket as visitors flock in
Hotel giant Minor International Plc witnessed an astonishing 20 to 30% spike in bookings for the first two months of 2024 compared to last year. Minor International Plc, dominating the hospitality scene as the nation’s largest hotel operator, is on the brink of a prosperous year. Chairman Bill Heinecke unveils the exciting news, projecting a tourism spending spree in Thailand…
- Business News
Thailand’s economic growth falls short of projections amid potential crisis
The pace of Thailand’s economic recovery slackened last year, falling short of the official predictions, as disclosed by government spokesperson Chai Wacharonke. This could increase the likelihood of the central bank considering an early easing strategy. Chai revealed today, January 23, that the Thai economy only expanded by 1.8% last year, a drop from the 2.6% growth experienced in 2022.…
- Thailand News
Thailand’s hot springs used as tourism strategy
The Ministry of Tourism and Sports unleashed a grand plan to catapult the nation’s hot springs into the global spotlight. Thai hot springs are set to rival European spa towns and Japanese Onsen havens, creating a hotbed for international travellers and an advantage for local economies. Tourism and Sports Minister Sudawan Wangsuphakijkosol revealed the ambitious scheme, aiming to transform Thailand’s hot…
- Business News
Bitcoin plunges 20% following launch of US Bitcoin ETFs
Bitcoin, the world’s leading digital currency, has seen a sharp decline of nearly 20% since January 11. This follows the launch of the inaugural Exchange-Traded Funds (ETFs) that invest directly in Bitcoin. The downturn has been attributed to increased caution among investors regarding the potential effects of these new financial products. On the day of the ETFs’ launch, Bitcoin soared…
- Business News
SET-listed banks’ net profit surges 15.6% due to rate hikes
Interest income growth due to policy rate hikes has contributed to a 15.6% year-on-year increase in consolidated net profit for ten Stock Exchange of Thailand (SET) -listed commercial banks in 2023, reaching a total of 232 billion baht. The previous year’s profit was around 201 billion baht. In the context of these rising interest rates, the banking sector demonstrated a…
- Business News
SET anticipates Oliver Wyman’s report on Thailand’s securities trading
The Stock Exchange of Thailand (SET) anticipates an imminent report from international consultant Oliver Wyman. The report, expected to be completed in the first week of February, focuses on the suitability of Thailand’s securities trading programs and the prevention of naked short selling. This initiative, led by SET President Pakorn Peetathawatchai, follows investigations into four alleged instances of naked short…
- Thailand News
Thai health minister unveils emergency airlift project to save tourists
In a move set to revolutionise emergency medical services, Public Health Minister Cholnan Srikaew declared the expansion of Thailand’s Sky Doctor project during an emergency airlift rehearsal in Phang Nga. The rehearsal unfolded at Koh Yao Witthaya School, where the minister, accompanied by permanent secretary Opas Karnkawinpong, showcased their commitment to elevating the nation’s healthcare services to international standards. Addressing…
