Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
-
Sponsored Digital nomading in Chiang Mai? What US$1,000 a month really gets you
Chiang Mai has become a popular destination for digital nomads due to its low living costs, rich culture, and active remote work community. The city offers affordable housing, tasty food, reliable internet, and many co-working spaces, making it a great...
-
Bitcoin breaks the bank: Crypto leap sends shockwaves through markets
In a dazzling leap forward, Bitcoin smashed through the US$71,000 barrier, sending shockwaves through the financial world. This crypto milestone, unmatched since June, comes on the heels of hefty inflows into exchange-traded funds and rampant election speculation. As the clock ticked past 10.45am in Singapore, the digital asset darling rocketed over 2%, peaking at an impressive US$71,310. Not to be…
-
Bangkok Bank’s virtual gamble: A licence to thrill in digital banking
In a bold move set to shake up the banking scene, Bangkok Bank (BBL) is betting big on bagging a coveted virtual bank licence, boasting the might of its powerhouse partners as a strategic edge. The bank is convinced that its dream team will help it emerge victorious in the bustling virtual banking battleground. Kobsak Pootrakool, BBL’s senior executive vice-president,…
-
Golden opportunity: Thai investors ‘mint’ to act as prices hold steady
In an unexpected twist for the Thai economy, the Gold Traders Association (GTA) announced a welcome bout of stability in today’s gold prices, prompting savvy investors to make their move. As of today, October 28, the glint of gold remains constant—keeping the market at a tantalising standstill. The GTA’s latest update, released at 9am, confirmed the price for gold ornaments…
-
Thailand leads Southeast Asia in agricultural exports, 8th globally
Thailand emerged as the largest exporter of agricultural products in Southeast Asia and the eighth-largest globally, thanks to its free trade agreements (FTAs). The Trade Negotiations Department highlighted this achievement, with the Director-General, Chotima Iemsawasdikul, attributing the success to these agreements despite growing foreign competition and global economic uncertainties. Thailand’s agricultural export value reached US$19.8 billion (638 billion baht) in…
-
AI storm: Brands brew up digital ‘spell-utions’ for savvy shoppers
In the world of marketing, there’s a storm brewing with artificial intelligence (AI) at its eye. Brands are diving into digital wizardry to craft campaigns that click with today’s choosy consumers, according to digital agencies and tech analysts. The challenge? Reaching and resonating with audiences when marketing budgets are tighter than ever amid economic uncertainty. Leading the charge is marketing…
-
Potential Trump return haunts global finance leaders at IMF meeting
Amidst the typical chatter of low growth, high debt, and conflicts flaring up, the real buzz at the annual IMF and World Bank meetings was the possible political comeback of Donald Trump. This was the hot topic for finance leaders in Washington last week, overshadowing the usual suspects on the agenda. According to some sources, Trump’s alleged leap in the polls…
-
Thailand establishes semiconductor board to boost industry
Thailand aims to bolster its standing in the regional semiconductor industry, with significant efforts underway to prepare a skilled workforce for escalating demands. This move is marked by the formation of the National Semiconductor and Advanced Electronics Industry Policy Committee, also known as the National Semiconductor Board, chaired by Prime Minister Paetongtarn Shinawatra. Paetongtarn signed an order to establish the…
-
Thailand’s auto industry brakes as production target stalls
Thailand’s auto industry is stuck in first gear, with car production now expected to fall short of the 1.7 million target for 2024 as sales and exports hit a serious slump. The Federation of Thai Industries (FTI) warns that car manufacturing could face another downgrade this year, with officials predicting a sharp drop from the original target of 1.7 million…
-
Thailand’s vehicle production hits the brakes in a sharp downturn
The automotive industry in Thailand has experienced a significant downturn in vehicle production, with September 2024 seeing a total of 122,277 units produced, marking a 25.48% decrease from the same period last year. This decline reflects a 15.78% reduction in vehicles manufactured for export, totalling 87,666 units, and a 42.31% drop in vehicles produced for domestic sales, amounting to 34,611…
-
Golden glow fades: Thailand’s gold prices take a baht-tle dive
After a dazzling run, gold prices have taken a nosedive in Thailand, with gold ornaments now pegged at 44,100 baht per baht weight. The Gold Traders Association (GTA) reports a 300 baht drop from yesterday, October 23, putting an end to the recent upward streak. As of 9.06am today, gold bullion is fetching 43,500 baht to buy and 43,600 baht…
-
Bond voyage: Political risks drive foreign exodus from Thai bonds
Increased political risks and the central bank’s reluctance to further cut interest rates are prompting the selling of Thai government bonds. Foreign investors have withdrawn over US$850 million from baht bonds this month, marking the largest monthly outflow since August last year, according to the Thai Bond Market Association. This trend is expected to continue, with investment firm Abrdn plc…
-
Thailand casino draft law ready to hit the jackpot in Cabinet review
The draft law on entertainment complexes and casinos in Thailand is anticipated to reach the Cabinet for consideration later this year, as announced by Deputy Finance Minister Julapun Amornvivat. Upon receiving Cabinet approval, the administration plans to forward the draft law to Parliament for further deliberation. The House of Representatives is scheduled to reconvene for a regular session from mid-December…
-
Transport, industrial stocks may gain if Trump wins US election
Transport and industrial estate stocks are poised for gains if Donald Trump secures victory in the US presidential election, according to Asia Plus Securities (ASPS). Conversely, manufacturers of petrochemicals, electrical equipment, steel products, and auto parts may face stiffer competition from Chinese exports. With the US presidential election just weeks away, the race between Democrat Kamala Harris and Republican Trump…
-
True Corporation amps up for royal spectacle along Chao Phraya
True Corporation supercharged its 5G, 4G, and WiFi networks ahead of the grand Royal Barge Procession sailing down the Chao Phraya River. This dazzling event journeys from Rama VIII Bridge to Wat Arun, promising top-notch connectivity for everyone eager to catch a glimpse. With extensive network testing already complete, True Corporation ensures they’re ready not just for the recent rehearsal…
-
Banking on gains: Thai banks ‘interest’ed in profit uptick for 2024
Thai banking sector profits have seen a modest uptick for the first nine months of 2024, buoyed by rising interest and fee incomes. Yet, the backdrop of swirling economic uncertainties has kept banks on their toes, continuing to stash away hefty reserves for potential loan losses. The pack of 10 Stock Exchange of Thailand (SET) listed banks and their subsidiaries…
-
ICONSIAM propels Thailand to the forefront of global destinations
ICONSIAM, the global landmark on the banks of the Chao Phraya River, is employing an Experiential Marketing strategy aimed at creating exceptional experiences and reaffirming its status as a must-visit global destination. In collaboration with partners from all sectors, ICONSIAM is investing up to 300 million baht to launch over 60 marketing campaigns throughout the final quarter of the year, culminating…
-
FTI calls for fair e-commerce platform playing field
The Federation of Thai Industries (FTI) is urging the government to enforce stricter regulations on foreign e-commerce platforms and control the influx of low-cost products into Thailand. This call to action comes after a recent survey revealed that 35.1% of local entrepreneurs experienced a decline in sales due to inexpensive imports sold online. Vice-Chairman of the FTI, Peekthong Thongyai spoke…
-
Thai Airways plans rehabilitation exit by mid-2025, banks to benefit
Creditors of Thai Airways International (THAI), particularly Bangkok Bank (BBL) and Krungthai Bank (KTB), are set to benefit from the airline’s planned exit from its rehabilitation scheme by mid-2025. The banks are being provided with several options for debt repayment, according to analysts. In recent reports submitted to the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission,…
-
Thailand & Hong Kong aims for ASEAN financial hub status
Thailand is exploring a partnership with Hong Kong to establish a financial hub aimed at connecting ASEAN markets. Deputy Finance Minister Paopoom Rojanasakul announced the initiative after a meeting with Hong Kong’s Financial Secretary, Paul Chan, during the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting in Lima, Peru. The meeting highlighted Thailand’s ambition to become a global financial player, as…
-
Thai SMEs boxed in by debt and dwindling demand
Small and medium-sized enterprises (SMEs) in Thailand are on the ropes, grappling with crippling debt and plummeting sales as the country’s economic engine sputters, warns the Federation of Thai Industries (FTI). The financial plight of these crucial businesses is worsening, says the FTI, with government support measures arriving too little, too late. Yet, the federation, the voice of Thailand’s SMEs,…
-
Bangkok gets a taste of Seoul: Korean food fest stirs up a culinary coup
In a culinary coup, South Korea’s Ministry of Trade, Industry and Energy teamed up with Kotra to dish out Seoul Food in Bangkok 2024, in the nation’s biggest food extravaganza yet. This mouth-watering event isn’t just about savouring the flavours, it’s a powerhouse meeting for food bigwigs eager to cook up new business deals, starting with Bangkok before taking the…
-
Hong Kong urged to innovate for tourist spending boost
Hong Kong businesses need to innovate to attract tourist spending, rather than focusing on the decline in visitor expenditure, a senior official has advised. Warner Cheuk Wing-hing, Deputy Chief Secretary for Administration, highlighted yesterday, October 20, that tourists are still eager to spend but have heightened expectations. “We cannot just complain about why people aren’t spending money. It’s not that…
-
Economic waters rise: Thai business sector flooded with challenges
The business sector is facing a stormy crisis this monsoon season as severe flooding batters key economic regions across Thailand. Provinces like Chiang Mai and Chiang Rai have been hit hard, with water levels reaching devastating heights—marking the first time in decades that such catastrophic flooding has occurred. Officials are closely monitoring the Chao Phraya River, issuing early warnings in…
-
Thailand’s drought and pests slash coconut yields, prices soar
The Agriculture Ministry revealed that the country’s mature coconut yield is expected to plummet to just 0.86 million tonnes this year, a sharp drop from last year’s 0.94 million tonnes. Blame it on a double whammy of prolonged drought and pesky infestations ravaging the country’s coconut trees. The knock-on effect is already being felt in the markets. Commerce Minister Pichai…
-
Gold hits record US$2,698.50 amid Middle East tensions
Gold prices surged to a new record high as heightened Middle East tensions drove investors towards the safe-haven asset, despite mixed economic data from the United States tempering expectations for significant interest rate cuts by the Federal Reserve this year. Bullion increased by 0.2% to US$2,698.50, surpassing the previous all-time high set yesterday by approximately one dollar. This rise came…
-
China’s economy grows 4.6% in Q3 amid property downturn
China’s economy experienced a marginally better-than-expected growth in the third quarter, according to data released today. However, the persistent property downturn and weak consumer spending continue to weigh heavily on economic activity, compelling policymakers to contemplate further stimulus measures to invigorate growth. The world’s second-largest economy expanded by 4.6% year-on-year in the July-September period, surpassing the 4.5% forecast in a…
-
CIMB Thai Bank targets 200 billion baht in sustainability loans
CIMB Thai Bank (CIMBT) aims to capitalise on the burgeoning demand for sustainability-linked loans, projected to be worth 200 billion baht (US$6 billion) among major local corporate clients within the next two years, particularly targeting the oil, gas, and energy sectors. Jason Lee, CIMBT’s head of sustainability, projects that around 300 large Thai corporations will seek transition financing over this…
-
Thailand, US bolster trade ties with focus on high-tech investments
Commerce Minister Pichai Naripthaphan and US Ambassador Robert F. Godec yesterday engaged in discussions focusing on trade tariffs and investment in high-tech sectors, aiming for strategic alignment. During their meeting yesterday, October 17, Pichai emphasised that the talks were crucial for establishing a strategic partnership and bolstering economic ties between Thailand and the US, enhancing both bilateral and investment relations.…
-
Thailand’s domestic tourism revenue to hit 970 billion baht
Festive events and new stimulus campaigns are set to boost domestic tourism revenue in Thailand to between 950 billion and 970 billion baht (US$28.6 and US$29 billion) this year, according to the Tourism Authority of Thailand (TAT). Despite these efforts, the target of 1 trillion baht (US$30 billion) will likely be missed due to a sluggish economy and the impact…
-
All aboard: Vietnam charts a 7.2 billion baht track to China
Vietnam announced an estimated cost of 179 trillion dong (US$7.2 billion) to build a new railway connecting it with China‘s Yunnan province. The proposed 427-kilometre railway will traverse from Lao Cai province, through Hanoi, and extend to the port city of Haiphong and Ha Long City, according to the Vietnam News Agency. The country is actively pursuing the upgrade of…
Don't forget to check out some other things to do in Thailand - get help starting a business or finding a job in Thailand, buy Thailand property, rent a yacht or book a medical procedure worldwide.