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.
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Thailand’s headline inflation surged over 1% in March
“The SCB Economics Intelligent Centre has revised down its forecast for average headline inflation in 2019 to 0.9% year on year, a slight decline from the previous forecast of 1.0%year on year.” Thailand’s headline inflation surged to 1.24%, year on year, during March. This is up from 0.73%, year on year, in the previous month. Food and energy prices are the…
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400 baht minimum daily wage worries Thai business chamber
The Thai Chamber of Commerce is raising concerns over the government’s proposal to raise the minimum daily wage to 400 baht. They say it will severely hit the country’s small to medium businesses. Chamber chairman Kalin Sarasin says they have been discussing the proposal with Chamber members and business operators discussions with many business operators. They found that most of…
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Thai PC and notebook sales set to increase 5% in second half of year
The market for personal computers and notebook computer will grow around 4.7% in the second half of this year, as students, gaming and e-sports continue to drive growth The prediction from marketing director at Acer Computer, Nitipat Praweenwongwuthi. Acer recently conducted a survey into the needs of computer users and found that about 50% of customers who purchase gaming computers will…
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Thai Government to focus on EEC projects to propel economy
PM Prayut Chan-o-cha will unveil his new government’s policy statement in Parliament when it sits formally on Thursday. Leaks to the media indicate his 12 ‘urgent’ and 12 ‘long-term’ policies will help Thailand step up to “developed-nation status” with many of the policies focussing on the Eastern Economic Corridor project. Among the urgent policies, the sixth calls for a “future-proof”…
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Economists predict Thai exports could fall 3.1% this year
Economists are forecasting that Thailand’s exports will drop by up to 3.1% for 2019 after June figures fell when compared to the same period last year. After the Commerce Ministry reported a 2.1% fall in June, the SCB Economic Intelligence Centre projected the country’s exports will drop this year by between 1.6-3.1%. “Although the US-China trade meeting after the G20…
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TMB – strong baht hits foreign investment funds
TMB Bank are reporting that the strong baht has cut the value of the foreign investment fund under fund management, falling by 27 billion baht from 1.2 trillion baht at the start of the year. TMB said the drop reduced the fund’s return by 0.47%. The least impacted funds are those covering oil investment, gold, and property funds, at 0.53%,…
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Co-working spaces in Bangkok are re-shaping small to medium business office options
PHOTO: The Great Room Co-working spaces are opening up around Bangkok and providing a more flexible framework for businesses to grow. Advances in technology, a more mobile workforce, and unpredictable economic growth are reshaping the business environment. In the Bangkok office market, a traditional three-year lease with options to renew and the tenant fitting out the space remains the typical way…
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Residential projects launched in June up, but sale 15% lower than May
As many as 47 new residential projects were launched in Bangkok and its suburbs last month (June), 16 more than in May. This from the Agency for Real-Estate Affairs. The projects combine 13,943 units worth a total of 57.25 billion baht, with per-unit prices averaging at 4.1 million baht, the survey added. The sale of new projects launched in June…
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Thai Airways close to sale of used planes to US company
PHOTO: Thai Airways Airbus A340, Airplane Pictures Thai Airways International President Sumeth Damrongchaitham reports that the national airline expects to sign an agreement this month with a US logistics firm on the sale of eight used A340 aircraft worth between 4-4.5 billion baht. The company is in the process of examining the contract before closing the sale deal of Thai Airways…
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Bank of Thailand sends a ‘warning shot’, but little impact
PHOTO: Chiang Rai Times “The Bank of Thailand’s move to curb the rising baht is simply a “warning shot” and will have little impact on the currency’s value or on the bond and stock markets.” This is the response from Thai economists following Friday’s BOT tweaking of the economic dials. On Friday the BOT adjusted down the amount of baht…
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Amari Pattaya has a dramatic makeover
“Dramatic changes have taken place to the entire property, which has transformed the legendary hotel into a new paradise along the northern end of Pattaya Bay.” Today’s Amari Hotel in Pattaya has its roots back in the early 1070s when it was constructed as the Orchid Lodge. But now there’s been a major make-over under the Amari brand. Amari Pattaya’s…
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A major lawsuit has been filed by owners of JW Marriott Phuket Resort & Spa
A letter filed with the Stock Exchange of Thailand (SET) yesterday. A major spat between the owners of the JW Marriott Phuket Resort & Spa in Mai Khao and the parent management company Marriott International, Inc… Minor International Public Company Limited (“MINT”) announces that it has, through its 100% subsidiary MI Squared Limited, initiated legal action in Thailand against Marriott…
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Avani Hotels and Resorts re-brands two resorts in Krabi
PHOTO: Klong Dao Beach, Krabi, home for one of the new ‘Avani’ brand hotels Two new hotels are on the way for Krabi under the Avani Hotels & Resorts brand. Avani Hotels & Resorts have signed up two new resort hotels in Krabi, marking the brand’s continued growth in Thailand. The existing resorts will undergo renovations to bring the properties in…
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Somkid says new Thai Government will speed up stimulus spending as growth falters
PHOTO: The Nation Somkid Jatusripitak, a day after being officially announced as a Deputy PM and head of the finance ministry, says he will speed up investment in key infrastructure projects to boost the country’s growth rate to 3.5% for the rest of 2019. “I have confidence we can manage the country’s economy under the coalition government to boost its…
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Talks resume in the ongoing China-US trade spat
By China Daily – Asia News Network There’s been a resumption of talks in the China-US trade.’war’ Analysts are hoping the restart in talks between top negotiators from both nations will deliver a win-win outcome. China’s Vice-Premier Liu He spoke by phone with US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin on Tuesday. According to reports, officials exchanged views…
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Post-election uncertainties see World Bank downgrade GDP further
Thai GDP growth is projected to fall from 4.1% last year to 3.5% in 2019, according to a World Bank report out today. The Thailand Economic Monitor noted that exports contracted by 4% in the first quarter of 2019 – the first quarterly contraction in three years. Private investment and household consumption continued to grow close to their three-year high, helped…
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Thai parliament addresses low prices for farm produce
PHOTO: Low prices for produce, from coconuts to rice, roller to oil palm The new parliament has considered urgent motions on the low prices of farm goods and resolved to set up a 39 member extraordinary House committee to look into the the matter. The new Thai House of Representatives has deliberated 11 urgent motions lodged on the issue of…
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Chiang Mai hotels battle disruptors
by Bill Barnett Thailand’s northern tourism hub of Chiang Mai has become a victim of its own volume-driven success. According to hospitality data provider STR, market-wide hotel occupancy for the first five months of the year is down 5.1%, compared to the same period in 2018. In the newly released C9 Hotelworks Chiang Mai Hotel Market Update, the comparison between…
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Thai Stock Exchange best performer in Asia – first six months
The Stock Exchange of Thailand (SET) Index shows an increase of 6.8% over previous month up to the end of June, marking it as the best performer in Asia. The SET is up 10.6% from the end of 2018 to 1,730.34 points. The average daily trading value of SET and Market for Alternative Investment in June was 60.53 billion baht…
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Bank of Thailand tackles surging Thai Baht
In attempts to exert some pressure on the Thai Baht control levers, the Bank of Thailand says it’s scaling back the auction size of short-term bonds. The actions are an attempt to curb the rapid surge of the Thai Baht which hit a six-year high last Monday. The central bank has announced that the reduction of short-term bond supply is…
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The Thai Baht in 2022 – a prediction
Please note: This is just ONE website’s predictions of the currencies in the future. It should not be taken as a serious representation of the state of the world currencies in 2022. Trying to find a few good numbers amid the bad we thought we’d look forward three years to some of the world’s major currencies and their projected performance…
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High-speed rail airport link contracts to be signed next month
The Eastern Economic Corridor Policy Committee has reported progress in the high-speed rail project to link three airports (Suvarnabhumi, U-Tapao and Don Mueang), and the Map Ta Phut industrial port development project. Contracts for both projects are expected to be signed between state firms and private concessionaires in July. The Eastern Economic Corridor Policy Committee, chaired by PM Prayut Chan-o-cha,…
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Thailand’s auto manufacturing expects to reach 2.2 million
PHOTO: Autoinfo Car sales for 2019 are likely to increase thanks to the improved purchasing power of Thais as the agricultural sector returns better prices. Permanent Secretary of the Ministry of Industry, Phasu Loharachun, say the automotive industry is the main economic activity generating revenue for the country. Meanwhile, the total number of cars to be manufactured this year is expected…
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A new beginning at 48 – The Nation prints its last newspaper today
The Nation daily newspaper, known for its independent and aggressive news reporting, publishes its last print edition today. After 48 years on the newsstands, one of Thailand’s only two English dailies, goes the way of many good banners before them. The Nation will continue as an online news source. The newspaper is the latest victim of the disruptive technology that…
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Trying to find a pulse in Thailand’s economic health
Thailand’s economy is south-east Asia’s wounded soldier as the newly elected Thai government tries to boost confidence and stimulate the economy after five years of military rule. Certainly the past 12 months have been the most challenging. GDP growth hit a four-year low of 2.8% for Q1 2019 and exports remain weak. Despite having unlimited power for half a decade,…
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Thai car manufacturers upbeat about sales
PHOTO: Chevrolet’s proposed SUV ‘Blazer’ to replace the Captiva Car sales for the first five months of this year stood at 437,722 equating to a year-on-year rise of just over 9%. Sales for May alone were 88,097 units, up 3.7%. But May’s growth slowed from the double-digit rise that the sector experienced between January and April, 2019. • By brand sales…
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Thailand Post’s no-go list
Twenty years ago postal services were thought to he going out of fashion as email and social media began to replace people sending letters in the post. But that’s all changed now as online retail services are making the world’s postal services busier than ever. Including Thailand Post. If you’re wishing to avoid problems with Thailand Post and would like…
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Unregistered hotels and lodgings told to get their paperwork in order, or close down
At least 5,000 of the country’s estimated 23,000 unregistered small hotels are expected to get their paperwork in order. The rush to action follows the announcement by the current government to register and comply with the Hotel Act, or be closed down. Most of Thailand’s busy tourist spots are rampant with small and illegal lodgings for tourists. Whilst the growth…
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Private hospitals briefed on new drug prices and medical fee notifications
Internal Trade department officials have briefed representatives of 353 private hospitals around Thailand about the public notification of prices of drugs, medical supplies and medical services to patients are treated at their hospitals. Internal Trade Department Director General Wichai Phochanakit explained that the private hospitals need to notify the public of the prices of drugs separately, not including the hospital…
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Thai Baht hits six year high – 31.05 to the US dollar
The Thai baht has hit a six-year high, reaching 31.05 to the US dollar yesterday after the US Federal Reserve signalled possible interest rates cuts. The US Fed says their monetary easing would be in response to increased economic uncertainty and a drop in inflation expectations. The Thai currency is forecast to keep trading in a range of 31.15 to 31.25…
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