baht
- Business News
Thai business group demand rate cut to keep exports afloat
Thailand’s leading business group called for an urgent reduction in interest rates, reflecting growing concerns about the impact of a rapidly appreciated baht on exports. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) chairman, Sanan Angubolkul, highlighted the urgency for the Bank of Thailand (BoT) to adjust rates, aligning with the government’s repeated calls for monetary easing. Markets…
- Business News
Strong baht, flooding impact Thailand’s tourism market deficit with Japan
The appreciation of the baht and severe flooding have emerged as pivotal factors for Thailand’s tourism industry, particularly with the High Season fast approaching. The final quarter is crucial in determining if Thailand can rebalance its tourism market deficit with Japan, which outperformed Thailand last year. By August, 706,500 Thais had visited Japan, while 668,221 Japanese tourists had travelled to…
- Tourism News
Golden weak: Chinese tourists to Thailand dip as baht bites
Chinese tourist numbers during the upcoming Golden Week holiday are anticipated to be lower than expected, influenced by a strong baht and China’s sluggish economy, which are limiting tourist spending. This trend is also prompting other international visitors to negotiate lower service prices. Thanet Supornsahasrungsi, the Association of Chon Buri Tourism Federation President, highlighted concerns about the appreciating baht’s adverse…
- Business News
Baht-boom fallout: Thai economy in choppy waters after Fed slash
The economy is teetering on the edge as the surging Thai baht causes ripples across the nation. In the wake of a significant rate cut by the US Federal Reserve (Fed), local industries are now urging the Bank of Thailand’s Monetary Policy Committee (MPC) to take swift action. For over a year, the MPC has held interest rates steady, but…
- Thailand News
Visitors flock to Khamchanod for sacred water bowl ritual
Visitors flocked to Khamchanod Island yesterday to catch a glimpse of the sacred water bowl ritual and seek lucky numbers. The ceremony, led by Chawakan Khamwansa, drew a large crowd hoping for good fortune and blessings from Father Pu Sri Sutho and Mother Ya Sri Pratumma. Tourists from across Thailand journeyed to the island, navigating the bridge to pay their…
- Thailand News
Future of 10,000-baht digital wallet in doubt after PM dismissal
Srettha Thavisin’s dismissal as prime minister cast significant doubt over the future of the much-publicised digital wallet scheme, with the ruling Pheu Thai Party and the Cabinet providing conflicting messages about the flagship policy’s direction. Concerns are also mounting among the public regarding the potential misuse of personal information collected for the 10,000-baht handout. A constitutional court order on Wednesday…
- Business News
Thailand’s food exports to rise by 8.8%, hitting 1.6 trillion baht
Thailand’s food exports are set to rise by 8.8% year-on-year, reaching 1.6 trillion baht this year, according to the National Food Institute (NFI). This growth is largely attributed to increasing global demand and a decline in raw material prices, said the President of the NFI, Supawan Teerarat. “Raw materials such as tuna, sugar, soybeans, and wheat have seen a price…
- Thailand News
Gang posing as electricity officials steals 228,700 baht via app
Cyber Crime Investigation Bureau (CCIB) Officers apprehended a gang posing as electricity officials, tricking victims into installing an app that drained their bank accounts. Victims were deceived into scanning their faces, resulting in a loss of over 200,000 baht. The cunning method highlights the growing sophistication of online scams. Police Lieutenant General Worawat Wattanakornbancha, CCIB Commissioner, Directed Police Major General…
- Thailand News
Gold prices drop as Thai market sees 50 baht reduction
Gold prices saw a drop today as the Gold Traders Association (GTA) opened the market with a reduction. Compared to the last recorded prices on August 9, gold ornaments are selling at 41,000 baht per baht weight. Today, August 12, reporters highlighted that the GTA announced gold prices, showing a reduction of 50 baht from the last prices on August…
- Thailand News
Jasmine flower shortage raises prices for Mother’s Day
Skyrocketing prices and a shortage of local jasmine flowers marked this Mother’s Day, driven by fluctuating weather conditions. In Khon Kaen, many florists at the Thetsabarn 1 Fresh Market have turned to imports from Indonesia due to more affordable prices. A 65 year old florist, Noorian, noted that continuous rain has hindered the blooming of local jasmine flowers this year.…
- World News
Rare Marvel T-shirt from 1997 sells for over 220,000 baht
A rare Marvel T-shirt from 1997, featuring designs of Silver Surfer, Daredevil, and Spider-Man, has gone viral after an intense bidding war saw its price skyrocket past 200,000 baht on an online auction. The auction, started by Facebook user Sarayut Sakha, showcased a white T-shirt from 1997 with a chest measurement of 22.5 inches and a length of 29 inches.…
- Tourism News
Thai hotels face 111 million baht loss after FTI Group collapse
The collapse of German tour company FTI Group has resulted in significant financial losses for Thai hotels, totalling over 111 million baht. Hotel operators in Thailand are now seeking assistance from the German Embassy through coordination with the Tourism and Sports Ministry. FTI Group, the third-largest tour operator in Europe, filed for insolvency in June, impacting tourists and operators across…
- Thailand News
Thai army introduces 10 baht meals for conscripts after criticism
The Royal Thai Army (RTA) introduced a meal plan priced at 10 baht per meal, offering high-quality dishes that include both savoury and sweet options. This initiative follows social media criticism regarding the quality of food provided to conscripts in Bangkok, where a video showed inadequate meals. The video, which quickly gained attention online, featured two breakfast dishes: cucumber soup…
- Business News
Startups to receive up to 50 million baht from BoI initiative
Startups with significant growth potential in targeted industries will receive financial backing, up to 50 million baht each, through a new initiative launched by the Board of Investment (BoI). This initiative, known as the Matching Fund, operates under a larger fund managed by the Competitiveness Enhancement Board, chaired by Finance Minister Pichai Chunhavajira. The Matching Fund aims to collaborate with…
- Bangkok News
Bangkok requests extension to settle BTS Skytrain debt
Bangkok Governor Chadchart Sittipunt announced yesterday that the city will require additional time to address its substantial debt owed to Bangkok Mass Transit System Plc (BTSC), the operator of the BTS Skytrain. The debt, amounting to billions of baht, was accumulated through hiring BTSC to manage the electric train service on two extended sections of the BTS, known as the…
- Thailand News
Father loses 8.7 million baht in fake modelling agency scam
A father from Phrae province sought help from Sai Mai Must Survive after being scammed by a fake modelling agency that claimed his daughter would star in an advertisement alongside Lisa from BLACKPINK. He transferred money 42 times, totalling over 8.7 million baht. The victim recounted that earlier this year his wife got acquainted with a woman called Namphueng through…
- Business News
June exports fall 0.3%, first decline in three months in Thailand
Thai exports experienced a decline for the first time in three months in June, primarily due to reduced sales in the agriculture and food sectors, as reported by the Commerce Ministry on Friday. Despite this dip, the ministry remains optimistic about overall export growth in 2024. June exports decreased by 0.3% compared to the same month last year, falling short…
- Thailand News
Thailand Cabinet caps electricity at 4.18 baht, diesel at 33 baht
The Thai Cabinet approved measures to cap electricity prices at 4.18 baht per unit until the end of the year and diesel prices at 33 baht per litre until October 31. A new energy structure law is set to be introduced today, July 23. Following a Cabinet meeting, Deputy Prime Minister and Energy Minister Pirapan Salirathavibhaga announced that the government…
- Business News
Stark Corporation scandal costs 14.7 billion baht
Shareholders and stock investors of Stark Corporation are reeling from an accounting and embezzlement scandal that has incurred damages estimated at a staggering 14.7 billion baht. This debacle has impacted 4,704 shareholders and led to the prosecution of the former chairman and several top executives in what is deemed one of Thailand’s largest corporate frauds in recent years. Adding to…
- Business News
Thai woman’s 307,000 baht debt sparks social media advice
A woman’s struggle with debt totalling 307,000 baht recently gained significant attention on social media. Earning 22,000 baht per month, she allocates 6,000 baht for rent and 3,000 baht for motorcycle loan payments. The debt, arising from six unsecured loans including credit cards and personal loans, spans multiple financial institutions. Details on monthly instalments, interest rates, or the status of…
- Business News
PDMO issues 20 billion baht in ESG bonds
The Public Debt Management Office (PDMO) is set to issue 20 billion baht in sustainable bonds to institutional investors this year. The public debt advisor for PDMO, Jindarat Viriyataveekul, stated that these bonds are designed for businesses adhering to environmental, social, and governance (ESG) principles. Sustainable bonds are a subset of ESG bonds, and PDMO currently has 467 billion baht…
- Business News
US equity funds attract record inflows amid Thai market decline
US equity funds have seen the largest inflows this year, spurred by the US economic recovery and expectations of interest rate cuts, while mutual fund investments in Thai stocks have dropped by nearly 10 billion baht, according to Morningstar Research (Thailand). Nearly 7.8 billion baht has been invested in US equity funds this year, marking a 5.04% increase from 2023,…
- Business News
Kerry Express delivers 2.8 billion new shares
Kerry Express (Thailand) Plc (KEX) announced a significant capital increase through the issuance of up to 2.8125 billion new ordinary shares, each with a par value of 0.50 baht. These shares will be offered to existing shareholders for 3.20 baht per share in a rights offering. SF Express Group, which holds a 62.7% stake in KEX, has confirmed its intention…
- Thailand News
BTS gears up for electrifying bus race in Bangkok’s BRT expansion
Bangkok Mass Transit System Plc (BTSC), the BTS Skytrain operator, is in a race to supply Bangkok’s Bus Rapid Transit (BRT) electric buses and have them operational by the September 1 deadline. BTSC signed a contract with the Bangkok Metropolitan Administration (BMA) yesterday, June 16, to procure 23 electric vehicles (EV) buses for the BRT system and to operate them…
- Thailand News
Lightning strike destroys house causing 700,000 baht in damages
A single lightning strike ignited a fire that destroyed a house rented by a couple, causing over 700,000 baht in damages. The couple, both motorcycle enthusiasts, narrowly escaped the incident as they were out buying dinner. Rescue worker Sunan Chumchua from the Kusonsathan Trang Foundation inspected the damage at house number 33/5, Moo 2, Khlong Khlo Subdistrict, Mueang District, Trang…
- Thailand News
Engineer gifts bride 120 baht of gold matching her weight
A young engineer made headlines by presenting 120 baht of gold, equivalent to the bride’s weight, as a dowry. The event, attended by many notable figures, took place yesterday in Pathum Thani. Kriangkrai Kadsa, known as Joe, led a vibrant procession to ask for the hand of Kewalin Kitiwan, also called Annie. The bride’s family, originally from Kamphaeng Phet, had…
- Business News
Finance Ministry to reassess stock holdings worth 1.19 trillion baht
The Finance Ministry plans to reassess its shareholdings in various stocks to optimise its asset portfolio and generate additional revenue for the state. Deputy Finance Minister Paopoom Rojanasakul instructed the State Enterprise Policy Office to evaluate the ministry’s stock holdings. According to sources, this review aims to identify which assets the government should retain and which could be sold. A…
- Business News
Thailand targets 465 billion baht in central region tourism revenue
The Tourism Authority of Thailand (TAT) is set to promote the central region with new flight connections to the south and northeast, aiming to generate 465 billion baht in tourism revenue this year. Following a mobile cabinet meeting in Phetchaburi province, Prime Minister Srettha Thavisin directed TAT to boost tourism in Suphan Buri, Kanchanaburi, Ratchaburi, and Phetchaburi. The initiative will…
- Business News
Loan and behold: NPLs spike as economy recovery stumbles
The Bank of Thailand reported a rise in non-performing loans (NPLs) within the banking industry for the first quarter, attributing the increase to all types of loan products amidst an uneven economic recovery. NPLs in the banking sector reached 502 billion baht, equivalent to 2.74% of total outstanding loans in the first quarter, an increase from 2.66% in the previous quarter.…
- Thailand News
Gamecaster Fat Cat takes own life after spending 2.6 million baht
A famous 21 year old gamecaster, known as Fat Cat, tragically ended his life after spending over 2.6 million baht on his girlfriend, only to be betrayed. His sister revealed the heart-wrenching details, prompting widespread online criticism. The police have officially announced the results of their investigation into the suicide of the gamecaster known as Fat Cat. This announcement has…
