Search Results for: oil prices
- Economy News
Price of Thai consumer goods might increase due to diesel price hike
The price of diesel in Thailand is set to increase next month, beyond the 30 baht per litre cap, but the Commerce Ministry has promised to do everything it can to keep consumer goods costs under control. The public is now worried about the products being more expensive due to the increase in diesel price. The diesel prices, connected to…
- Business News
Economic aftershocks of Russia’s invasion on Thailand’s economy
Nearly two months after Russian President Vladimir Putin decided to invade Ukraine, countries across Asia are bracing themselves for rising inflation and supply chain disruptions, following increasing sanctions on the Russian state. According to experts, the most affected country in Asia is Thailand, where commodity trading with its European counterpart has become almost impossible. Different types of commodities traded and…
- Thailand video news
Thailand News Update | Thais head off early for Songkran
More Russians are reportedly interested in venturing down to Thailand. After the Russian PM announced last week it would lift Covid-19 restrictions on flights to 52 countries, starting April 9, some Russian travel agents claim there has been a massive increase in Thailand search inquiries by Russians wanting to escape winter, and perhaps a few other current inconveniences. Searches for…
- World News
Russian tourism staff claims interest in Thailand travel has spiked for Russians
More Russians are reportedly interested in venturing down to Thailand. After Russia announced earlier this week it would lift Covid-19 restrictions on flights to 52 countries, starting April 9, some Russian tourism staff claim there was a massive increase in Thailand search inquiries by Russians. Searches for tickets to Thailand reportedly went up by 20%, according to one popular vacation…
- World News
Asia News Today | Growth in Asia expected to be on track in 2022
Police raided a house in the northern province of Chiang Rai yesterday to find 71 Burmese migrants hiding inside. A Thai man who was also inside the house told police he was hired to pick up the migrants who had illegally crossed over the border from Myanmar and transport them to the house. The migrants told police they were heading…
- Thailand News
Thailand inflation jumps 5.7 percent in March, hits consumers’ wallets hard
In March, Thailand’s inflation saw its highest monthly jump in 13 years, rising to 5.73% year on year. That’s according to the Commerce Ministry’s Office of Trade Policy and Strategy, which pins the blame on the war in Ukraine, which has pushed up fuel, food and electricity prices. This unexpected turn of events has caused the office to adjust its…
- World News
Asia News Today | Ukraine hails Japan’s stand against Russia
Search and rescue teams in the southern region of Wuzhou, China, have located one of two black boxes from the China Eastern flight that nosedived into remote hills on Monday. Zhu Tao, the director of the aviation safety office at the Civil Aviation Administration of China, says the black box found yesterday is likely the cockpit voice recorder. The China…
- Tourism News
Thailand’s tourism operators despair at another lost Songkran
Following the CCSA’s decision to ban water throwing during this year’s Songkran celebrations, tourism operators have been left despairing – for the third year in a row. Sanga Ruangwattanakul, president of the Khao San Road Business Association, questions how the government can ban water splashing events on one hand, while, on the other hand, say Covid-19 will be endemic by…
- Economy News
Thailand’s power will be more expensive in May
From May until August, Thailand’s electricity price will rise to four baht per kilowatt hour, going up by 0.23-1.3 baht per unit. The country’s Energy Regulatory Commission is raising fuel tariffs following Russia’s invasion of the Ukraine. An ERC spokesman said another reason for the price surge is the declining supply of natural gas from the Gulf of Thailand. Russia’s…
- Property
Thai steel producers brace for higher production costs, slower market
Thailand steel producers are preparing for the fallout of higher steel prices and growing demand from Asia in the wake of Russia’s invasion of Ukraine. Within a week, the world market price of steel billet rose to roughly US$800 per tonne, up from $650 per tonne, EAF Long Product Steel Producers Association committee member Pravit Horungruang told the Bangkok Post.…
- Tourism News
Can we say good-riddance to the Thailand Pass on July 1?
OPINION “Hopefully, and essentially, there has to be a radical Thailand Pass-ectomy.” July 1 seems so far away as the rest of the world has moved on and opened up, with many SE Asian destinations also dispensing with many of their Covid-arrival procedures already, or in the next month. Whilst the rest of the world has established new travel lanes…
- Thailand video news
Thailand News Today | Travel rules to ease in Thailand? Prisoners drinking hand sanitiser
A government spokesman has confirmed that Thailand will remain neutral on the Russia-Ukraine conflict. The spokesman said due to the threat by Covid-19, Thailand doesn’t want any international conflict to worsen the public health crisis. He also restated what foreign ministers have said, that all parties should exercise “maximum restraint”. He stressed that PM Prayut has supported a policy of…
- Tourism News
End in sight for Thailand Pass once Covid-19 declared endemic – TAT
The governor of the Tourism Authority of Thailand says tourism numbers may need to be revised down due to the fallout from Russia’s invasion of Ukraine, which includes surging oil prices and rising inflation. Yuthasak Supasorn adds that entry restrictions will be relaxed in stages as officials move to declaring Covid-19 endemic. Cabinet has already approved a Public Health Ministry…
- Thailand video news
Thailand News Today | Health Ministry to declare covid endemic by July 1 (Thai style rules)
Tourism officials have shrugged off a US CDC notice which advised citizens to avoid travel to Thailand. Earlier this week, the US CDC added Thailand to its list of Level 4 countries, due to the ongoing Covid situation in the kingdom. However, Yuthasak Supasorn from the Tourism Authority of Thailand says that won’t make much of a difference to an…
- Thailand Travel
Phuket boat tour business begs government to stop fuel price spike
A speedboat tour company in Phuket is begging the government to not allow fuel prices to spike. The company, Nikorn Marine Tour Phuket, offers tourists group boat trips, as well as private trips. It also offers beach parties, but its main services require boats. The company’s CEO told The Phuket News yesterday that after Covid-19 had already hit marine tourism…
- Tourism News
Tourism officials not bothered by US advice to citizens to avoid travel to Thailand
Tourism officials have shrugged off a US Centers for Disease Control and Prevention notice which advised citizens to avoid travel to Thailand. Earlier this week, the US CDC added Thailand to its list of Level 4 countries, due to the ongoing Covid-19 situation in the kingdom. However, Yuthasak Supasorn from the Tourism Authority of Thailand says that won’t make much…
- Tourism News
Travel in 2022 – how Russia is reshaping the world’s travel industry
Russians were the most visible travellers heading to Thailand post February 1, 2022, when the Thailand Pass Test & Go option was rebooted. Even with its 2 days of pre-booked SHA+ quarantine and PCR tests, along with US$50,000 Covid insurance (which has since been reduced to $20,000), the Russian travellers were delighted to jump on a plane and take the…
- World News
Asia News Today | Calls for stronger sanctions by China over Russia & Singapore flash floods
The US White House is calling on China to condemn Russia’s invasion of Ukraine as the Russian onslaught against its neighbour continued. They also noted that Russian President Vladimir Putin has put nuclear forces on high alert, a significant ramp up in the ongoing rhetoric. China has implemented some sanctions imposed by the US and its allies against Russia over…
- World News
Russian flights keep arriving in Thailand, for now
Aeroflot, Ural Airlines and S7 Airline planes are still arriving on schedule in Thailand today as nothing has changed, thus far, as flights into Thai airports from Russia are concerned. But Thailand’s tourism tzars continue to monitor Russia’s invasion of Ukraine, as the world looks to ways of pressuring and sanctioning Russia, including access to its airlines across the world.…
- Property
Thailand real estate market to see post-pandemic boom by 2024
Real estate developers in Thailand should brace themselves for a post-pandemic boom, despite the current inflation and higher development prices, economists say. After a 2 year slowdown during the pandemic, Thailand will enter a new economic phase from 2022 to 2024, according to Bangkok Bank’s Senior Executive Vice-President Kobsak Pootrakool in the Bangkok Post. “We are getting close to the end…
- World News
UK hits Russia hard with economic sanctions for Ukraine invasion; targets banks, oligarchs, airlines
In an address to members of parliament, UK Prime Minister Boris Johnson announced what he is calling “the largest and most severe package of economic sanctions that Russia has ever seen”. The new sanctions target Russian oligarchs and banks, which will now be excluded from UK’s financial system. Additionally, the Russian national airline Aeroflot will be banned from landing flights…
- World News
Asian stocks rise with new Russian sanctions, market volatility increases worldwide
Asia markets ticked higher at opening on Friday, encouraged by a rebound of the US stock market, after Russia was struck with a flurry of international sanctions. US President Joe Biden has announced a new round of sanctions against Russia, crippling its ability to conduct business in major currencies. Many indexes were in the green on Friday morning, including Tokyo’s…
- World News
LATEST: Russia invades Ukraine, attacks in major cities, more than 40 dead
UPDATE: Ukraine’s President Volodymr Zelensky says his nation’s armed forces are trying to repel the Russian advance in several areas of the country, including eastern Ukraine’s Donbas region. But Russia claims it has met weak resistance, with Ukrainian border guards reportedly surrendering, as the two countries further engage in an information war to control the narrative. Russian state media has…
- World News
Asia News Today | Covid cases surge in Asia, Sanctions against Russia & Human trafficking
Covid cases are still surging in many Asian countries, the US is rallying support from the region to support sanctions on Russia in the wake of yesterday’s incursion into Eastern Ukraine, the Australian PM responds to the Chinese laser targeting of one of its planes last week and a conference in Indonesia to address regional human trafficking. —– Starting off…
- Thailand video news
Thailand News Update | Only Fans Girl “Shoots herself in the foot”
The cabinet eventually caved in this week by agreeing to cut the excise tax on diesel by three baht per litre, from the current 6 baht tax. This will for up to three months to help ease the impact of high energy prices on the cost of transport and consumer goods in Thailand.The cabinet approved halving the price until May…
- Thailand video news
Thailand News Update | Songkran cancelled for 2022?
Thailand’s famous water festival Songkran might be cancelled for 1 third year in a row if the daily Covid-19 infections reach 30,000 per day. The massive water festival and gun fight, celebrating the Thai New Year, has already had the tap turned off due to coronavirus restrictions. The DDC warns that Songkran, which is April 13 to 15 this year,…
- Covid-19 News
New Covid-19 strain named “Omicron” and a variant of concern
Omicron is the new Covid-19 to watch out for, having just received its Greek name and the highest category of classification, “variant of concern”. The B.1.1.529 strain, recently uncovered in southern Africa and already seeing some spread, was given the Omicron name and classified as a variant of concern by the World Health Organisation yesterday. From least worrisome to most…
- Economy News
Chamber of Commerce proposes familiar plans for the economy
Ahead of a meeting with PM Prayut Chan-o-cha tomorrow, the Thai Chamber of Commerce has compiled a list of measures to boost Thailand’s struggling economy. The proposal was sourced from 5 regional chambers of commerce and will be submitted to the prime minister tomorrow as part of his meetings with private sector representatives. The proposed measures aren’t particularly groundbreaking, mostly…
- Economy News
Economist predicts economy will shrink 8.9% this year, despite easing of restrictions
A leading economist is predicting the Thai economy will contract by 8.9% this year despite the easing of Covid-19 restrictions, far higher than previous estimates from local and international economic pundits. Amonthep Chawla, head of the research office at CIMB Thai Bank says that although Thailand is heading toward the fourth phase of lockdown easing, with more businesses to be…
- Economy News
Local markets in Asia retreat as US President Trump talks up revised trade war
Steep losses are the order of the day as local markets follow the lead from a sell off in New York after US President Trump foreshadowed a new round of trade sanctions on China. The US President and his Secretary of State Mike Pompeo have openly accused the Chinese government that the Covid-19 started in a lab in Wuhan, and that…
