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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Sponsored Thailand health insurance that covers chronic conditions: What expats need to know
The Thaiger key takeaways Managing chronic conditions in Thailand requires health insurance that covers specialist visits, medications, tests, and hospital stays. Cigna offers high-coverage plans with access to top hospitals, direct billing, and telemedicine support for convenient long-term care. Expats...
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Developers need to clear stock, heavy discounting in property market
ADVERTORIAL Property prices are expected to decline by double digits in the next few months as Thailand’s property developers begin to offer more sales incentives in response to post Covid-19 markets. A recent survey by leading property portal FazWaz indicated that 50% of Thailand’s property developers are considering discounting at least 20% off minimum benchmark prices. Brennan Campbell, CEO at…
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Major makeover proposed for Pattaya’s Walking Street
… but few are impressed. Images on the Facebook page of Pattaya City reveal plans for a major re-imagining and makeover of one of the resort’s most notable, and notorious, landmarks – Walking Street. Gone are the grotty road, broken pavements and lurid signs and frontages, and in their place will be an easy to navigate walking area fit for…
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Thai Airways may not need to file for bankruptcy in US
Contrary to earlier reports, Thai Airways may not need to seek bankruptcy protection in the United States to avoid seizure of its planes and other assets. A senior official made the announcement after a meeting led by Deputy PM Wissanu Krea-ngam with the struggling carrier’s senior management and the airline’s board. The meeting was to discuss the airline’s rehabilitation plan…
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New rules for Thai cinemas to re-open in Phase 3
As part of Phase 3 of the easing of Emergency Decree restrictions enacted to fight the spread of Covid-19, cinemas will be allowed to reopen on June 1 (though many operators are unlikely to do so as food and drink are their main revenue source and the movie companies say there are currently no new movies to release…) The Centre…
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Ministry of Foreign Affairs announces re-entry procedures for foreigners
Yesterday the Ministry of Foreign Affairs sent out a letter to all Foreign Chambers of Commerce in Thailand explaining the details and procedures for non-Thai nationals to re-enter the country. This procedure is not for only for people who legally work in Thailand. Those who don’t have a work permit yet, but your new employer can get permission from the…
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Murdoch closes all his regional and local newspapers in Australia
Australia’s largest media group, News Corp, has ditched its 100 local and regional newspapers, blaming the collapse of the businesses on a collapse advertising, migration of advertisers online, all made worse by the Covid-19 pandemic. News Corp, owned by Rupert Murdoch, announced on April 1 it was stopping printing of around 60 community newspapers “temporarily”. The collapse will cause the…
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Massage shops, boxing stadiums may be allowed to reopen next week
But we won’t know until tomorrow. Phase 3 of the easing of Covid-19 emergency measures could finally see boxing stadiums, massage parlours, spas, cinemas and tutorial schools allowed to reopen next month. Pubs, bars and nightlife venues are expected to remain closed, well that’s the rumours for now anyway. The deputy director-general of the Disease Control Department says activities and…
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Central buys Family Mart Thailand
Shopping centre operator Central Retail Corporation has bought 100% of Family Mart, one of Thailand’s major convenience store chains, as it “moves forward to develop a new business model to cater to modern consumers”. CRC’s chief executive officer says the acquisition will strengthen Central’s hold on the food market and convenience store business in Thailand, which is burgeoning. Since 2012,…
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4 new board members for THAI restructure, 1 has airline experience
Four new board members for Thai Airways are the face of hope for the national airline as it addresses massive losses and restructuring. The airline’s business is now being addressed under the country’s Bankruptcy Act. Piyasvasti Amranand, Pirapan Salirathavibhaga, Boontuck Wungcharoen and Pailin Chuchottaworn have joined the Thai Airways executive board. Piyasvasti served as the airline’s president from June 2009…
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No role for Transport Ministry in Thai Airways rehab plan
After initially insisting on having a say in the management of the rehabilitation plan for the beleaguered Thai Airways, the Ministry of Transport has conceded that, with its holding in the airline reduced to less than 50%, it no longer has any jurisdiction over what is now a listed public company. Deputy Transport Minister Thaworn Senneam says the struggling carrier…
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Thailand’s economic forecast among Asia’s worst: central bank governor to step down
The governor of the Bank of Thailand will step down when his term ends in September. Veerathai Santiprabhob announced yesterday that he has decided against seeking a second 5 year term for “family reasons.” His departure comes as Thailand sees its economy contracting as much as 6% this year, mostly as a result of the impacts of lockdown provisions to…
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Thai Fruit Golden Month festivals to be held in 8 Chinese cities
8 Chinese cities will host Thailand Fruit Golden Months Festivals as local governments there begin easing lockdown measures and travel restrictions. The director-general of the Department of International Trade Promotion made the announcement yesterday, saying the the festivals will promote Thai fruit exports around China. “The campaign aims to increase the export of durian, mangosteen, longan, mango, rose apple, coconut,…
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Pattaya Council mulls a mass transport monorail system
Nothing like the middle of a pandemic to announce a new monorail project. Undeterred, the Pattaya City council have announced a new 9 kilometre monorail as part of its Eastern Economic Corridor projects. They cite the need to ease traffic congestion caused by rapid urban growth in the seaside party town. They say the inner city area is in desperate…
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New Thai Airways board will nominate 4 ‘professionals’ to execute restructure
Thai Airways first took off as the national airline on May 1, 1960 with its first passenger-carrying flight. 60 years later it’s now poised for a massive dissection as it enters bankruptcy proceedings and restructuring. It’s 60th birthday passed without fanfare or announcement as the pride of the nation scrambles for survival – a victim of a global pandemic, years…
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Thailand’s property market set to experience brokerage megashift
by Bill Barnett It’s clear that Thailand’s real estate sector is expected to undergo a megashift as a result of the Covid-19 pandemic and search for a ‘new normal’, if that’s even possible. That said, one of the country’s leading PropTech groups FazWaz says the crisis has only accelerated dynamic charges to the sector that have been bubbling to the…
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Thai Chamber of Commerce warns 10 million jobs in peril if lock-down persists
The Thai Chamber of Commerce is appealing for businesses to be allowed to reopen ASAP, warning that if the lock-down goes on much longer, an estimated 10 million people could lose their jobs. The Pattaya News reports that TCC Chairman, Kalin Sarasin, says businesses should be allowed to reopen provided they abide by new public health measures. He says the…
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International postal services resume to some countries
Thailand’s postal service is resuming international deliveries to a variety of destinations as the Covid-19 situation in many countries has improved and many local and national governments have eased lockdown measures. Thailand Post announced the resumption of the service on its Facebook page yesterday. EMS World service will be available in 11 countries – Bhutan, China, Hong Kong, South Korea,…
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Thai Airways union says it won’t oppose bankruptcy proceedings
“We opposed this position before but after reexamination, we have to show creditors that Thai Airways will genuinely follow the restructuring plan. Including adjustments to the board and staff.” In an abrupt reversal, the president of Thai Airways’ labour union announced yesterday that the union won’t oppose the government’s plan to reduce holdings in the airline and restructure the carrier…
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Thai car production hits 30 year low
As late as last year, the automotive industry in Thailand was the largest in Southeast Asia and the twelfth largest in the world, with an annual output of around 2 million vehicles. But in April this year, Thailand’s car production hit its lowest level in 30 years – just 24,711 units – amid weak global demand, factory shutdowns and widespread…
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Krispy Kreme employee allegedly fired after post about former Thai King
A man was fired from a Krispy Kreme Doughnut Thailand store after making disparaging remarks about a former Thai king. Now some people are boycotting the doughnut business for their actions. But Krispy Kreme executives deny the allegations. ‘Chaiyaporn Sornbudnak’ made a post on Facebook about King Rama IX, who died in 2016. News sites can’t even publish the man’s Facebook…
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Highway number 7 from Pattaya to Map Ta Phut opens this Friday
According to the Thai Highways Department, the long awaited extended section of the Motorway Number 7 from Pattaya to Map Ta Phut will open up this Friday and will be accessible free of charge to users until the end of August. The Director General of the Highways Department informed the media this morning. “From May 22 the public can use…
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Hotels across Thailand angered by European tour group’s failure to pay up
Around 173 Thai hotels are appealing to the PM for help after a European tour group reneged on up to 2 billion baht in unpaid bills. Daily News reports that the TUI tour group has left hotels in Phuket, Phang Nga, Krabi and Surat Thani struggling with significant cash flow problems after trying to renegotiate its contract so that it would…
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Thai company steps up to ease condom shortage
A shortage of condoms is one thing. A shortage of condoms while people around the world are stuck at home is another. Since a top condom manufacturer in Malaysia halted production due to the coronavirus pandemic, a Thai company is now stepping up to fill the gap. Thai Nippon Rubber Industry, the country’s biggest condom manufacturer, is increasing production by…
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Thai Airways files for bankruptcy protection
Despite Thai Airways issuing a press statement and taking to social media to deny rumours it intends to file for bankruptcy, various media reports appear to confirm the struggling carrier will file for Chapter 3/1 of the Corporate Reorganisation section of the Bankruptcy Act. This is the Thai equivalent of Chapter 11 bankruptcy in the US. TTR Weekly reports that…
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Thai public balks at Thai Airways’ 60 billion bail out
A big decision is on the horizon for Thai Airways, the beleaguered national carrier. Crucial decisions are now being discussed which will define the airlines’ future. The airline was still haemorrhaging cash well before the coronavirus crisis started grounding planes from the start of February this year. Thai Airways’ fortunes have been in a death spiral for the past decade,…
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Thai Airways should file for bankruptcy: former finance minister
A former Finance Minister is proposing that Thai Airways formally file for bankruptcy, so the troubled national flag carrier can use the protection of the country’s bankruptcy law to begin rehabilitation. Kla party leader Korn Chatikavanich maintains that this is a “golden opportunity” for the financially battered airline to enter administration, under the bankruptcy process, and clear the way for real,…
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Shopping centres, department stores prepare to reopen tomorrow
Department stores, shopping centres and larger restaurants, as well as other businesses across the nation, will begin gradually reopening tomorrow after nearly 2 months of closures due to the Covid-19 pandemic and the national state of emergency declared to fight it. The decision to go ahead with Phase 2 of the easing of restrictions was announced yesterday, but has yet…
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100 billion baht fund in the works for small businesses
A pay cheque might be on the way for small businesses that kept paying their employees, despite loss of business from the pandemic. An up to 100 billion baht fund, or 3 billion USD, is planned to be set up to help Thailand’s small businesses, according to Reuters. Deputy PM Somkid Jatusripitak said assistance from the Finance Ministry will be for…
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Australian government takes on Google and Facebook over re-publishing ‘news’
A leading Australian consumer watchdog is calling for Google and other tech giants to pay Australian news outlets A$600 million (12.4 billion baht) a year under a new code of conduct ordered by the government. News Limited and Nine Entertainment have also voiced their support for the news ‘tax’. The Australia government announced plans to force Google, Facebook, and other…
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Movies in a Covid world – The case for the return of the Drive In
One of the industries hard hit by the impact of the Covid-19 outbreak has been the film industry. At both ends the industry has been shuttered – the making of the movies and then the watching of the movies in cinemas. At some stage the movie making machine will chug back to life and, sometime, we’ll be allowed to go…
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