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 5 ways retirees in Thailand lose money (and how to stop it)
Retiring in Thailand can be affordable and enjoyable, but many retirees lose money due to common mistakes. High living costs, scams, and unexpected expenses can quickly drain savings. There are five ways that retirees in Thailand can lose money and...
-
TAT anticipates Chinese tourist arrivals to reach 1 million per month in October
The Tourism Authority of Thailand (TAT) anticipates that Chinese tourists could reach one million arrivals per month by October, similar to figures from 2019. An increase in flight capacity during the high season and resolving e-visa issues are factors expected to contribute to this growth. Chuwit Sirivejkul, TAT’s Regional Director of Marketing for East Asia, expressed confidence that Chinese tourist…
-
Former Coinbase product manager sentenced in first cryptocurrency insider trading case
In a landmark legal decision, a former Coinbase Global Inc. product manager has been sentenced to two years in prison in what is being deemed the United State’s first case of insider trading involving cryptocurrency. Ishan Wahi, 32 years old, received his sentence from US District Judge Loretta Preska in a Manhattan federal court yesterday after pleading guilty to two…
-
Biden and Republican lawmakers fail to reach debt limit agreement
In a recent meeting at the White House, US President Joe Biden emphasized that the country’s debt limit must be addressed, warning that a default “is not an option” for the world’s largest economy. Republican leaders Kevin McCarthy and Mitch McConnell met Biden, along with the top two congressional Democrats, Chuck Schumer and Hakeem Jeffries. However, no new developments were…
-
Biden meets Republican leaders in bid to resolve US debt limit impasse
A significant meeting took place between President Joe Biden and Republican leaders yesterday, with the hope of breaking the deadlock over the US debt limit, which could have repercussions in the upcoming presidential election. The key gathering had President Biden, House Speaker Kevin McCarthy, and Senate Republican leader Mitch McConnell discussing the national debt ceiling, which currently stands at US$31.4…
-
Chinese tourist arrivals in Thailand set to hit pre-pandemic levels
The Tourism Authority of Thailand (TAT) has announced that Chinese tourist arrivals are set to reach one million a month starting from October, a figure last witnessed prior to the pandemic. The increase in travel is likely to gain momentum during winter and long national holidays. TAT has observed a rise in advanced hotel bookings and chartered flight requests, indicating…
-
SAIC Motor begins construction of new energy industrial park in Thailand
Chinese car manufacturer SAIC Motor has commenced construction on a new energy industrial park in Thailand, focusing primarily on localised production of vital automotive components for the company’s new energy vehicles (NEVs). SAIC has announced the park’s Phase I construction is projected to wrap up this year, while the park’s full completion is expected by 2025. Situated in Chonburi province,…
-
Asia-Pacific cyber-attack risks in line with global trends but high attack expectations remain for 2023
Cyber-attack risks in the Asia-Pacific region decreased to a moderate level last year, mirroring the global trend, yet a recent survey found that 78% of organisations worldwide anticipate successful attacks occurring in 2023. Jon Clay, 42 years old, vice-president of threat intelligence at multinational cybersecurity software company Trend Micro, stated that the global cyber-risk index (CRI) shifted into positive territory…
-
Bank of Thailand predicted to raise policy rate to 2% this month
Economists anticipate that the Bank of Thailand will raise its policy rate to a terminal level of 2% this month, following their estimation that the Federal Reserve’s funds rate has reached its peak. The research centre of TMBThanachart Bank (ttb) suggests that the central bank’s Monetary Policy Committee (MPC) will increase the policy benchmark rate by 0.25 percentage points during…
-
Thailand aims to finalise free-trade agreements with EFTA, Sri Lanka and UAE by mid-next year
Thailand is keen to finalise free-trade agreement (FTA) negotiations with the European Free Trade Association (EFTA), Sri Lanka and the United Arab Emirates (UAE) by mid-next year, with the aim to boost trade and investment. The potential FTA between Thailand and Sri Lanka is particularly appealing due to Sri Lanka’s strategic location in South Asia, with connections to India, Pakistan,…
-
Singapore increases COE quota for categories A and B cars to reduce supply volatility
Singapore’s Land Transport Authority (LTA) has announced that it will increase the Certificates of Entitlement (COE) quota for cars in categories A and B as a one-time adjustment to reduce supply volatility. The quota will rise from 9,575 to 10,431 for the current quarter, with Category A increasing by 24% and Category B increasing by 15%. The LTA will redistribute…
-
Banking job boom and surging salaries in Saudi Arabia
Despite ongoing global financial challenges, Saudi Arabia is experiencing a significant surge in banking jobs and salaries. This growth is attributed to the ambitious economic expansion plans by Crown Prince Mohammed Bin Salman, who is utilising oil sales revenue to transform the nation’s economy. With over US$600 billion worth of assets, Saudi Arabia’s Public Investment Fund is hiring swiftly, attracting…
-
Thai business leaders’ wishlist for first 100 days under new government
Business executives are contemplating Thailand’s prospects for the first 100 days under a new administration as the election approaches. Key areas of focus for the incoming government include the appointment of suitable ministers and the prioritisation of business sector policies. Jareeporn Jarukornsakul, the 42-year-old chairman of industrial developer WHA Group, emphasises the importance of appointing knowledgeable and capable ministers to…
-
Singapore aims to shed stopover status and hit pre-pandemic tourist numbers by 2024
Australians, Bryan and Christine Mansfield were delighted to start their three-day holiday in Singapore, marking the beginning of their golden jubilee celebrations delayed due to the COVID-19 pandemic. Like other tourists, Singapore was their first foreign destination since 2020 when the pandemic halted international travel. Although Singapore served as a layover before proceeding to their main destinations within the Southeast…
-
Digital bank runs: How social media fuels panic and threatens financial stability
A crisis of confidence in the US banking sector has led individuals to withdraw their money from financial institutions including Silicon Valley Bank, Credit Suisse, First Republic Bank, and California-based PacWest Bancorp. This series of events has given birth to a new term in the finance lexicon: digital bank run. In contrast to traditional bank runs, where people would form…
-
Binance resumes bitcoin withdrawals after brief closure due to congestion issue
Binance, the world’s leading cryptocurrency exchange, recently announced that it had resumed Bitcoin withdrawals following a temporary halt due to a congestion problem. The exchange experienced an interruption in withdrawals for the most widely recognised cryptocurrency, Bitcoin, lasting for over an hour before the issue was resolved. The cryptocurrency exchange did not disclose additional information regarding the nature of the…
-
Rising electricity bills spark energy policy debate ahead of Thai general election
High electricity bills have become a significant concern for voters, leading political parties to focus on their energy policies as they look to gain support in the upcoming general election. This comes after a new power tariff of 4.70 baht per kilowatt-hour took effect, which has resulted in costlier electricity bills for consumers. The Energy Regulatory Commission decided to reduce…
-
Thai company expects more cement consumption due to tourism
SCG Cement-Building Materials, a subsidiary of Thailand’s Siam Cement Group, anticipates cement consumption to grow by 1-2% year-on-year, exceeding 30 million tonnes in the current year. This growth is primarily due to the recovery of the tourism sector. Having developed a “hybrid structural cement” that reduces carbon dioxide emissions during production, the company demonstrates its commitment to battling climate change.…
-
Increase in fresh fruit exports to China expected due to improved land transport flow
Exports of fresh fruit to China are expected to surge by at least 10% this year, thanks to improved land transport flow and better cross-border trade facilitation. Commerce Permanent Secretary Keerati Rushchano revealed that land border transportation for fresh fruit is predicted to rise significantly in the coming months, with durian making up about 80-90% of the transported produce. Fresh…
-
Philippine annual inflation on track for government target as food prices ease
Philippine yearly inflation is predicted to remain within the government’s 2% to 4% target range in Q4, following a decrease in April due to reduced food prices. The consumer price index increased by 6.6% YoY in April, the lowest rate since August, and lower than the 7.0% predicted in a Reuters poll. As a result, the Bangko Sentral ng Pilipinas…
-
Singapore car COE prices to remain high due to limited supply and strong demand
Prices for Singapore’s Certificate of Entitlement (COE) are likely to remain high as demand continues to outstrip limited supply. Despite a dip in premiums for cars after the latest bidding exercise closed on 4 May, it is too early to tell if prices have peaked, said analysts who forecast that COE premiums for cars may rise in the next few…
-
Airbnb reports first annual profit and optimistic outlook for tourism
Airbnb has made a strong recovery in 2022, achieving its first annual profit on a 40% revenue growth to US$8.4 billion, and reporting net income of $1.9 billion. Optimistic about further growth this year fuelled by the tourism industry, the company’s co-founder and chief strategy officer, Nate Blecharczyk, highlights the importance of adapting to changing consumer behaviour. The San Francisco-based…
-
Thailand’s One Drone, One Community project aims to boost smart farming and economy
The Digital Economy Promotion Agency (Depa) has announced its plan to launch a pioneering project in Thailand that will provide large drones to communities and offer training in drone maintenance to encourage smart farming development. The initiative, titled “One Drone, One Community,” is backed by the Digital Economy Fund and aims to create an economic impact exceeding 800 million baht…
-
The future of Thai workforce: Embracing flex work and employee experiences
Despite facing economic uncertainties, nearly 60% of global executives anticipate their businesses to achieve stable or significant growth. Asian leaders, however, express concerns about the rising cost of capital and debt, labour market tightness, and competition for talent when planning for the upcoming year. In the Global Talent Trends (GTT) Study 2023 by Mercer, human resources leaders in Thailand shared…
-
US authorities investigate Goldman Sachs’ role in Silicon Valley Bank collapse
US authorities have launched an investigation into Goldman Sachs‘ work with Silicon Valley Bank (SVB) in relation to the events that led to the collapse of the California-based bank. Goldman disclosed the probe in a recent securities filing, noting that they are cooperating and providing information to various government bodies. The investigation focuses on the bank’s activities for SVB in…
-
Biodiesel and used cooking oil set to fuel sustainable aviation industry
Biodiesel, which is a combination of diesel and palm oil-derived methyl ester, as well as previously discarded used cooking oil, is now competing to revolutionise the aviation industry. These two oils can be processed to create sustainable aviation fuel (SAF), an eco-friendly biofuel for aircraft. Many companies are keen to produce SAF as airlines become increasingly aware of its potential…
-
Thai gems and jewellery exports set to grow 10% despite global challenges
Exports of gems and jewellery (excluding gold) from Thailand are forecasted to grow by 10% this year, despite concerns of economic slowdown and ongoing geopolitical conflicts. This optimistic projection comes from increased demand for high-end luxury jewellery, particularly gemstone jewellery, according to Sumed Prasongphongchai, director of the Gem and Jewelry Institute of Thailand. In the first quarter of this year,…
-
White House to discuss AI’s promise and risks with tech giants
The White House is set to host discussions with leading executives from Google, Microsoft, OpenAI, and Anthropic, aimed at tackling the potential risks and benefits of artificial intelligence(AI). The agenda includes Vice President Kamala Harris and other US administration officials exploring methods to ensure consumers reap the advantages of AI while remaining safeguarded from its potential dangers, as stated in…
-
US Federal Reserve considers final interest rate hike to tackle inflation
The US Federal Reserve has commenced a two-day meeting to determine if it will raise its benchmark lending rate for possibly the last time in this campaign, in an effort to tackle persistent inflation. Since March of last year, the Fed has embarked on a bold series of interest-rate hikes to address inflation, which currently stands at 5%, significantly higher…
-
AMD shares fall as second-quarter forecast misses expectations
Shares of Advanced Micro Devices experienced a decline yesterday following a second-quarter forecast that failed to meet Wall Street expectations. This overshadowed the company executives’ optimism that the beleaguered chip market will begin to recover in the latter half of 2023. After AMD announced first-quarter sales below analyst predictions for PC and data centre chips, their two most significant segments,…
-
Keppel Corp announces major restructuring and growth plans
Singapore‘s Keppel Corp, a former conglomerate with operations in a variety of sectors including data centres and renewable energy assets, unveiled a significant corporate restructuring plan today. The reorganisation will see the company divided into three distinct units – fund management, investment, and operating platforms, aiming to simplify and foster growth. The fund management arm will concentrate on raising funds,…
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.