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 Travel vs international health insurance: Which coverage do you need overseas?
The Thaiger key takeaways Travel insurance is ideal for short-term trips, covering emergencies, cancellations, and lost luggage, but not routine care. International health insurance suits expats and long-term residents, offering full medical coverage, including checkups, maternity, and chronic care. Choosing...
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The Suvarnabhumi shopping shambles
Retailers want ‘in’ at the world’s 21st busiest airport in the world. With through-traffic of 60 million+ each year, and growing, Thailand’s biggest retailers want a slice of the passenger spend. But if you can’t get a shop inside the airport, build your own shopping centre just outside to capture passengers, and some of their money, just before they arrive at the…
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World economy wakes up to a day when the US has imposed new tariffs on China
The US has rolled out new tariffs on Chinese products yesterday but some economists say the latest gamble is likely to backfire and hurt the US economy. Meanwhile they predict the ramping up of the tariff ti-for-tat will not tarnish China’s resilience or dampen development in the long run. Yesterday the US administration imposed 15% additional tariffs on about half…
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New Central Village luxury outlet opens for business at BKK
Wonder if anyone from Airports of Thailand were invited to this morning’s opening? The Central Pattana president and CEO Preecha Ekkunagul, and directors Suthikiatis Chirathivat and Sudhitham Chirathivat, presided at the official opening ceremony of Central Village next to Suvarnabhumi airport this morning. Central Village has cost more than 5 billion and was five years in the planning. The new…
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Central Village developer vows to plough ahead with Suvarnabhumi opening
PHOTO: Bangkok Post The developer of the luxury outlet near Bangkok’s Suvarnabhumi airport is vowing to continue with the opening of Central Village as planned. Airports of Thailand (AoT) is blocking the entrance to the 5-billion-baht development, scheduled to open this Saturday. Central Pattana Plc (CPN) is petitioning the Administrative Court for an injunction against AoT, with CPN President Preecha…
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Esso’s pumps out cleaner fuels and petrol station makeovers
Esso is launching a new line of gasoline and diesel fuels, produced with its new Synergy Fuel Technology that they claim offers 30% improved cleaning ability and engine protection. Esso says the additional benefits include improved acceleration and engine response. The Thai Esso team also says they are investing in more attractive and brighter service stations. The Synergy Fuel Technology…
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Baht to climb higher against USD, more pressure on exports
The Thai baht is set to soar further as one side effect of the latest escalation of the China-US trade war. Economists say the latest tit-for-tat trade sanctions will hasten foreign capital inflows into Thailand’s “safe haven” bond market while the US Federal Reserves may again cut interest rates, adding more fuel to the situation. Meanwhile the Thai export situation…
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Minister calls for probe on legality of the new Central Village luxury mall at BKK
PHOTO: Under construction at the time and now ready to open, but… It’s bright and shiny, it’s new, it promises discounts on luxury goods, it’s next to the airport, it was set to open this Saturday, but is it legal? The Department of Provincial Administration Department has been asked to investigate the legality of the new Central Village ‘Bangkok Outlet…
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US-China tit-for-tat rattles Asian markets after Trump’s ‘tariff tantrum’
US President Trump has caused widespread panic in Asian financial markets today after Fridays “tariff tantrum” where he used Twitter to announce new levels of tariffs on Chinese imports after China announced their response to his previous ramping up of the ongoing trade war between Washington and Beijing. Asian shares have headed southward today after the President escalated tariffs in…
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Thai finance minister confident GDP will pick up next quarter
Deputy PM Somkid Jatusripitak says he is confident Thailand’s gross domestic product will pick up in the fourth quarter as a result of the launch of 316 billion baht economic stimulus package from the Thai government. He claims the new rice price guarantee scheme will also assist the agricultural sector. The Cabinet approved the new packages at its Tuesday meeting.…
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Official complaint filed with the DSI over The Peaks Residences Condominium in Phuket
PHOTO: Inspections at the property in March this year – Kritsada Mueanhawong Bangkok MP Sira Jenjaka has gone ahead and filed a long list of formal complaints over The Peaks Residences Condominium project being built in the hills above Kata Noi in Phuket. The Palang Pracharat MP has also claimed to have had death threats made against him over his…
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Central opens first luxury outlet at Suvarnabhumi on August 31
Central Village, “Thailand’s first international luxury outlet”, located near Suvarnabhumi Airport in Bangkok, will officially open on August 31. The Nation reports that the design of the 5 billion baht facility, owned by the Central Pattana group, will “highlight Thai architecture and cultural identities” and shoppers will find at least 130 well known international luxury and lifestyle brands. “More than half…
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Former finance minister says government shouldn’t bail out Thai Airways
Former Thai Finance Minister and current Democrat list MP Korn Chatikavanich is voicing his concerns over the financial crisis gripping Thai Airways and objects to any plan to use taxpayer money to rescue the ailing legacy airline. Korn says Thai Airways’ financial current troubles are similar to the situation in 2008, when the company struggled to find money to repay…
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Growth of Thai economy lowest in nearly five years
PHOTO: Supply Chain Asia The Thai economy registered growth of just 2.3% in the second quarter of 2019, compared with 2.8% in the first quarter. This is the lowest rate of growth in 19 quarters, according to Tossaporn Sirisamphan, secretary-general of Thailand’s economic think-tank, the National Economic and Social Development Board. Tossaporn warns that although the situation is not yet…
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“Government stimulus package for Thai economy is unsustainable”
PHOTO: Wikipedia Anusorn Tamajai, an economist from Rangsit University, says he expects the proposed package to make little difference and has declared it unsustainable. The package, which should be approved this week, is worth 370 billion baht and includes cash handouts for farmers and low-income earners, grants for children, incentives for domestic travelers, and tax incentives for small businesses. It’s…
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Bank of Thailand relaxes Loan to Value to boost sluggish property market
PHOTO: booking.com The Bank of Thailand says it will relax the Loan to Value (LTV) for homebuyers purchasing residences together and that borrowers or co-borrowers applying for a loan under the first home buyers rule and who do not own any other residence would be given a 90% mortgage on a condominium and 95% for a single detached house and…
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Thai GM’s diesel plant in Rayong builds 500,000th engine
GM Powertrain Thailand has produced its 500,000th four-cylinder Duramax turbo-diesel engine, a production milestone since production officially started in 2011. GM announced that the Rayong plant is the first GM facility in the world to produce the engine. Hector Villarreal, president of GM Southeast Asia says the Duramax engines serve as the heart of the company’s ‘Colorado’ and ‘Trailblazer’ models. “They…
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Asian stock markets follow Wall Street’s lead downward this morning
Asian stock markets have followed Wall Street’s lead this morning falling sharply as investors made their concerns apparent about economic recessions in some of the larger economies. They also reacted to more threats of instability from the trade war between the US and China. The Stock Exchange of Thailand (SET) Index dropped 1.6% during this morning’s trading. US markets led…
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Nation Multimedia Group aims to counter tech ‘disruption’
PHOTO: NMG group chief, Shine Bunnag Thailand’s media giant Nation Multimedia Group say they are poised to ride the new “digital wave” to tide over the industry disruption brought about by technology, group chief Shine Bunnag said while outlining his vision. Shine, who is chairman of NMG’s executive committee, said in an interview with Krungthep Turakij newspaper that with the…
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Don’t mention the ‘R’ word – world’s biggest economies at risk of recession
CARTOON: Financial Times Five big economies are at risk of recession – Germany, Italy, Mexico, Brazil and the UK. A recession is usually defined as two consecutive quarters of contraction in an economy. Locally Singapore and Hong Kong are teetering on technical recessions, both vital regional business hubs. The UK economy shrunk in the second quarter, and growth has flat…
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Industry minister says exporters will still need help to work-around strong Thai currency
The strong Thai baht is still a big problem for Thailand’s industries, exports and tourism, key drivers of the Thai economy. The baht’s strength has been partly driven by Thailand’s high current account surplus of US$17 billion this year, attracting investment in the currency as a ‘safe haven’. Industry Minister Suriya Juangroongruangkit says the ministry will continue to support exporters…
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Thai advertisers deserting Print, but love Cinema and Transit ads
Thai businesses are shunning newspapers and magazines for advertising, but still support cinema advertising and ‘transit’ media. Newspaper advertising spend dropped nearly 28%. Magazine spending wasn’t far behind dropping nearly 25%, year on year. Thailand’s advertising spend dropped 0.42% year on year in July to about 9.143 billion baht, according to Nielsen media report. The report says that only cinema,…
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AMLO warns about fake investment certificate
The Anti-Money Laundering Office (AMLO) Acting Secretary General is warning that there has been a group creating fake English certificates, claiming that it comes from the AMLO and being sold to foreign companies. The scammers would approach the foreign companies that expect to invest in Thailand and tell them that they need the certificate from AMLO. So far, there’s already…
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Treasury department plans new lease of life for disused buildings
The Treasury Department is considering leasing out older and disused buildings for commercial development if the lessee pledges to preserve their historical, architectural or cultural value. The department’s director general, Amnuay Preemonwong, says it would be a better option than seeing them abandoned and becoming increasingly dilapidated causing health and safety risks to neighbours. But the proposal will not apply to…
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Radisson brand add another Phuket hotel to its portfolio
The Radisson Hotel Group has signed a deal for a 222 key mixed-use hotel on Phuket’s north west coast at Mai Khao. Set to open in early 2023, the hotel has sales and leaseback units under a hotel residences program. Radisson Phuket Mai Khao Beach is being developed by Thai-Chinese Property Holdings. Phuket’s ongoing development surge continues to attract Chinese…
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Thai Airways faces more bad news with bigger losses in Q2
Thai Airways’ problems appear to be compounding with a perfect storm of an ageing fleet, a plateauing of tourist intake and increased competition from newer, more nimble budget airlines. The country’s national pride and joy had a poor Q2 this year, compounding years of declining profit results. The second quarter loss more than doubled losses for the same quarter last…
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Amnesty program for unlicensed Thai hotels finishes September 9
PHOTO: We needed a photo of a small hotel. So this is The Small Hotel in Krabi (already licensed!!) The Thai government has issued guidelines for unlicensed hotels under their amnesty program. Hotels must submit applications and complete improvements before September 9, so time is of the essence. Baker McKenzie Thailand has outlined the process and guidelines which we are republishing…
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Chewathai launches seven new property projects in Bangkok despite slowdown
Listed property firm Chewathai says they are revising down their revenue target for this year from 2.8 billion to 1.6 billion baht after demand for residential projects has shown a slowing down in the first half of 2019. The company’s managing director Boon Choon Kiet made the announcement yesterday. Boon says Chewathai’s total revenue of 618.65 million baht in the…
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Thai baht may need another ‘haircut’ by the Bank of Thailand before the end of 2019
Wednesday’s rate cut by the Bank of Thailand has not succeeded in reining in the surging baht, raising the prospect of another interest rate cut by 0.25 of a percentage point before the year-end. While the central bank’s statement on the policy rate reduction didn’t mention the strength of the baht, economists suspect the baht’s strength and its impact on…
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Currencies and stock exchanges flutter as the dust settles on the latest threats in the US-China trade spat
Central banks in India, Thailand and New Zealand cut interest rates this week in an attempt to fend off any harm from the spiralling US-China trade war. The escalation of the trade war, sparked by fresh US tariff threats by US President Trump over the weekend, is seen as the reason for the policy shift. On Monday, the People’s Bank…
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Bank of Thailand cuts policy rate, to 1.5%
The Bank of Thailand’s Monetary Policy Committee has made a surprise decision today to cut the policy interest rate amid pressure to avert an economic slowdown and hedge the heightened trade war between the US and China. The MPC cut the interest rate by only 25 basis points to 1.5 %. But the cut is significant. Of the seven-member committee,…
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