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 How one hospital visit in Thailand could cost more than your whole trip
Thailand is a favourite spot for travellers who want to enjoy more while spending less. From cheap street food to low-cost hotels and fun attractions, it’s easy to stretch your budget here. But there’s one thing many people don’t think...
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Thailand Plus Package extension anticipated to attract 6 billion baht investment in three years
The Revenue Department anticipates that the tax measures designed to support the relocation of foreign investors’ production bases will generate investment of approximately 6 billion baht within three years, according to Deputy Director-General Vinit Visessuvanapoom. Visessuvanapoom explained that the cabinet has given its backing to an extension of the tax measures, also referred to as the Thailand Plus Package, which…
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National Telecom unlikely to set high-capacity specifications for first satellite
National Telecom (NT), formed from the merger of TOT and CAT Telecom, is focusing on providing satellite specifications for state agency demands, which are estimated to increase by 7% annually, as stated by a top-ranking executive. With the satellite set to launch in the 126° East slot within the coming three years, determining its specifications is paramount. The firm aims…
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Southeast Asia and China top destinations for overseas business expansion in Asia
Southeast Asia and China are now the top choices for overseas expansion, with 83% of Asian businesses expressing interest in venturing abroad, as revealed in a recent report. The Business Outlook report, conducted by United Overseas Bank (UOB), surveyed over 4,000 small and medium-sized enterprises (SMEs) as well as large organisations in Asia. The study showed that over four out…
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Thai airlines report surge in earnings as tourism rebounds
Thai Airways International Public Company Limited and Bangkok Airways Public Company Limited have experienced a significant increase in their earnings for the first quarter, as tourists have started to return to Thailand in increasing numbers. In the first three months up to March, Thai Air recorded a net income of 12.51 billion baht (US$370 million), a considerable turnaround from their…
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New government has room to spend 2 trillion baht on populist pledges
The upcoming government is expected to have around two trillion baht at its disposal for implementing its populist policies, according to an anonymous source from the Finance Ministry. The figure takes into account the 500 billion baht needed for the Pheu Thai Party’s pledge to provide digital wallet handouts of 10,000 baht to those aged 16 and over. Should the…
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Vaping promotion on social media impacting youth in Australia
Social media platforms like Instagram, TikTok, and Facebook predominantly exhibit vaping in a favourable manner, giving the impression that e-cigarette usage is widespread and socially acceptable. In Australia, traditional tobacco advertising has been prohibited for decades; however, e-cigarettes are extensively promoted on social media, undermining some of the progress made throughout earlier years. Most platforms have content policies explicitly prohibiting…
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Machine anxiety: How to reduce confusion and fear about AI technology
In the 19th century, computing pioneer Ada Lovelace wrote that a machine can only “do whatever we know how to order it to perform”, little knowing that by 2023, AI technology such as chatbot ChatGPT would be holding conversations, solving riddles, and even passing legal and medical exams. The result of this development is eliciting both excitement and concern about…
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Former ByteDance executive sues company for wrongful dismissal over alleged culture of lawlessness
A former high-ranking executive at ByteDance, the Chinese firm behind the immensely popular TikTok platform, has filed a lawsuit against the company, charging it with wrongful dismissal. According to Yintao Yu’s testimony, he was terminated from his position for exposing what he describes as the company’s “culture of lawlessness.” The legal action in the San Francisco court comes when political…
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UFC Gym eager to re-enter Singapore market after sudden closure of franchise
UFC Gym has expressed its keen interest in returning to the Singapore market and is committed to offering support to customers affected by the unexpected closure of its franchise in the country, according to CEO Adam Sedlack. He highlighted that Singapore continues to be an attractive market for the UFC Gym brand and their unique training approach. Members of UFC…
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Malaysia’s economy exceeds expectations with 5.6% growth in first quarter
Malaysia‘s economy has experienced faster than anticipated growth in the first quarter, bolstered by solid domestic demand, causing the central bank to downplay the potential impact of a global slowdown on the country, which is reliant on exports. Gross domestic product increased by 5.6%, according to data from the central bank and the government, exceeding analysts’ forecasts of a 4.8%…
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Canon targets 10% revenue growth in Thai printer market with new laser models
Canon Marketing (Thailand), the local branch of the Japanese technology company, has set a target of achieving a 10% revenue growth for its printer business this year, while simultaneously launching new laser printer models in the market. Thailand ranks as the fourth largest growth market in Asia-Pacific for both inkjet and laser printers, following India, Indonesia, and the Philippines. The…
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Thai, Bangkok Airways report first-quarter earnings surge
Thai Airways International Plc and Bangkok Airways Plc have experienced a significant increase in their first-quarter earnings as tourists return to Thailand in growing numbers. Thai Airways reported a net income of 12.51 billion baht for the three months through March, a considerable improvement from the 3.25 billion baht net loss they incurred during the same period last year. Meanwhile,…
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BlockFi bankruptcy allows return of funds to non-interest-bearing account holders
Bankrupt cryptocurrency lender BlockFi has been granted court permission to return US$297 million to clients holding non-interest-bearing accounts. However, this does not include repayment to customers who made last-minute attempts to transfer funds into those accounts. It was concluded by the UK Bankruptcy Judge that customers owned their deposits in BlockFi’s Wallet programme, a non-interest-paying scheme that maintained customer deposits…
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Thaifoods Group to invest billions in expansion and new retail outlets
Thaifoods Group Plc (TFG), a leading chicken and pig producer in Thailand, has announced plans to invest between 3 billion and 3.5 billion baht in expanding its business this year, with a particular focus on opening new retail outlets. Chief Operating Officer Phet Nantavisai stated that 2 billion baht of the investment will be allocated to the expansion of the…
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Thai Bankers’ Association considers new fee structure for industry
The Thai Bankers’ Association (TBA), which represents the banking industry in the country, is contemplating the introduction of a new fee structure in response to increasing operating costs. Banks are planning to take into account expenses from traditional and digital banking services while finalising the updated fee structure. This will be done in conjunction with the Bank of Thailand. The…
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Nine executives apply for NBTC secretary-general role
A total of nine executives have applied for the position of secretary-general at the National Broadcasting and Telecommunications Commission (NBTC). Seven individuals submitted their applications during the initial application period running from March 20 to April 7, with a further two applying during the extended period, concluding May 7. According to Dr Sarana Boonbaichaiyapruck, NBTC chairman, the new secretary-general will…
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Proposal to tackle illegal tour guides and boost job opportunities submitted to prime ministerial candidates
Tour guides have presented a proposal to numerous prime ministerial candidates from various political parties, with the aim of eliminating unlawful tour guides and nominee businesses. They also hope that the proposed Tourist Guide Act will expand the scope of the profession, leading to increased employment opportunities. Yesterday, representatives from the Professional Tourist Guides Association of Thailand visited political party…
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Thailand partners with Asean organisations to develop electric vehicle battery technology
Thailand has joined forces with five technology and electric vehicle (EV) organisations in Asean to conduct a joint study and develop EV battery technology, in efforts to strengthen the booming EV industry in the region. This collaboration aims not only to enhance the EV ecosystem but also to support Asean’s economy under its sustainable development concept, stated Pimpa Limthongkul, the…
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WhatsApp in-chat payments roll out in Singapore: A new chapter for SMEs or a security risk?
Digital payments are transforming rapidly, and WhatsApp’s recent decision to launch in-chat payments in Singapore highlights this change. The move by Meta, WhatsApp’s parent company, is expected to have a significant impact on local businesses and increase competition among the region’s e-payment providers. However, concerns also arise around security, privacy, and the potential for scams and fraud. With a user…
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Biden and senior Republicans meeting postponed for further staff discussions
Crunch negotiations between US President Joe Biden and senior Republicans have been delayed until early next week, allowing staff to continue their discussions, according to a statement from the White House yesterday. An insider familiar with the talks between the Democratic and Republican leaders described this as a positive development, implying that it was not the right time for the…
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Elon Musk announces new CEO for Twitter and transition to CTO role
Elon Musk revealed yesterday that he has appointed a new CEO for Twitter, though he did not disclose the individual’s identity. He also stated that he will assume the position of Chief Technology Officer for the social media platform within the next few weeks. “Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in…
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Bank of Thailand to relax rules on Chinese yuan use for trade this year
The Bank of Thailand (BoT) plans to ease regulations on the use of China’s yuan for trade this year, aiming to mitigate the effects of currency volatility, according to BoT Deputy Governor Mathee Supapongse. Ongoing discussions between the central bank and its Chinese counterpart are focused on promoting the usage of the Chinese currency. China is a significant trade partner…
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Thai consumer confidence reaches 38-month high in April
Consumer confidence in Thailand experienced an 11th consecutive month of growth in April, hitting a 38-month high, according to a recent survey. It revealed that the continued recovery in the tourism sector, combined with increased activities in anticipation of the May 14 election, were major contributors to this boost. The University of the Thai Chamber of Commerce (UTCC) reported that…
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China increasingly uses yuan for trade with Russia, sidelining the dollar
China has significantly raised its use of the yuan for purchasing Russian commodities in the past year, with almost all its procurement of oil, coal, and some metals from the neighbouring country now settled in the Chinese currency instead of US dollars, multiple trading executives with direct knowledge of the situation have revealed. The shift towards using the yuan to…
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China’s consumer price index sees slowest growth in two years
China’s consumer prices experienced a slow increase over the past two years in April, with factory gate deflation becoming more pronounced, according to recent data. This outcome has prompted conjecture that additional stimulus activities may be necessary to enhance the uneven post-pandemic economic recovery. In April, the consumer price index (CPI) increased by 0.1% year-on-year, making it the lowest level…
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Disney reduces streaming losses but sheds subscribers as earnings meet expectations
Walt Disney has reported a reduction in streaming losses by US$400 million from the previous quarter; however, the company also experienced a drop in subscribers. The entertainment giant shared this information on Wednesday as part of its recent quarterly earnings release, which fell in line with Wall Street expectations. Following the report, shares of Disney declined by 4.4% during after-hours…
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Toyota projects 10% profit growth and five-fold increase in EV sales this year
Toyota Motor Corp revealed on Wednesday that a 10% increase in operating profit is expected during this business year, as sales of pure electric vehicles (EV) are predicted to surge five-fold with a reduction in global supply chain disruption caused by the ongoing chip shortage. The ambitious growth plan was introduced by the newly appointed CEO, Koji Sato, who entered…
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China’s shrinking birth rate impacts baby product manufacturers
A decline in China’s population is creating a challenging environment for the country’s baby and children’s product manufacturers, as domestic sales plummet and companies grapple with finding alternative revenue streams. As the world’s largest market for baby food and diapers, valued at US$37.9 billion annually, prepares to contract for the first time, firms are turning their attention to products for…
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Thailand targets high-spending Middle Eastern tourists for tourism growth
The Tourism Authority of Thailand (TAT) is focusing on attracting high-spending visitors from the Middle East in the latter half of this year, with the goal of utilising this market as a new tourism growth engine. Apichai Chatchalermkit, TAT’s deputy governor for tourism products and business, has stated that since Thailand re-established full diplomatic relations with Saudi Arabia in early…
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Growing global demand for gold amid banking sector turmoil and geopolitical tensions
The global demand for gold from investors is witnessing an increase due to instability in the banking sector, geopolitical tensions, and a challenging economic environment, prompting individuals to turn to the precious metal as a safe-haven asset, according to the World Gold Council (WGC). The WGC’s most recent Gold Demand Trend report revealed that demand for gold bars and coins…
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