business
- Covid-19 News
Doctors advise 5-step plan to re-opening Thailand
14 Thai doctors have sent a message to Thailand’s Government alerting them to the dangers of a premature easing of travel restrictions and closures around the country. Meanwhile pressure is mounting from people and hawkish businesses to reopen the schools, open the shop doors, restaurants and shopping centres. The group of doctors submitted a 5-point proposal. The government says it…
- Covid-19 News
The road back to ‘normal’ – when can we get back to work?
OPINION At one stage we didn’t know a new coronavirus was about to emerge. Then we started hearing stories out of China about a mysterious pneumonia-like disease in the first week of 2020. Then we started seeing a surge of cases, outside China, and wondered if it would affect us and the way we live. Then it did. Now we’re…
- Covid-19 News
Aviation industry estimates that 25 million jobs are in peril
Amongst industries hit during the Covid-19 situation, the aviation industry has probably been hit harder than most with huge investments, millions of staff, complicated infrastructure, small margins and thousands of down-stream businesses. It will also take a lot longer to wind the whole aviation machine back up when things eventually settle down. The International Air Transport Association estimates that some 25…
- Covid-19 News
Thailand’s food delivery services are booming
Whilst most businesses have been turned upside down by the disruptions caused by the Thai government’s reaction to Covid-19, along with enforced closures, at least one business is booming at this crazy time. With restaurants closed to sit-down customers, the delivery services are providing a valuable service getting food to customers stranded at home whilst applying social distancing for the…
- Economy News
BOT predicts 5.3% contraction in Thai economy for 2020
Even the Thai economy, which was still maintaining respectable growth before January, is now spluttering under the siege of the Covid-19 virus. Now the Bank of Thailand has crunched some numbers and believes the Thai economy will sharply contract by 5.3% this year as the virus continues to weigh on global financial markets, the local economy and people. GDP growth…
- Economy News
Thai government planning more economic stimulus packages
Economists have urged the government to expand the fiscal deficit to up to 600 billion baht, while more stimulus packages are hopefully on course to counter the impact of the Covid-19 outbreak in Thailand. Secretary to the Council of Economic Ministers, Kobsak Pootrakool, says that the economic ministers would consider extra packages as relief for certain sectors, that were hit…
- Covid-19 News
Be informed, be aware. Prevention and precautions in a Covid-19 world.
As of this morning the number of cases of the Covid-19 coronavirus has reached 169,552. The number of deaths related to the virus is now 6,516, representing a death rate of around 3.8%, up from 3.4% two weeks ago, and up from the earlier days when it hovered around 2%. But the number of people that have fully recovered has…
- Covid-19 News
400 billion baht stimulus announced to boost Thai economy
“The package will inject an estimated 400 billion baht into the economy in a bid to return growth to positive territory.” Yesterday’s Thai cabinet meeting gave the greenlight to a new stimulus package. The government expects the approved 400 billion baht to reduce the impact of the Covid-19 coronavirus outbreak. Last week’s 2,000 baht cash stimulus proposal, which was largely…
- Politics News
Cabinet meets today to discuss power costs stimulus
Amongst other pressing issues at today’s cabinet meeting, the Thai PM and ministers will consider four economic measures proposed by the Energy Ministry that would assist low-income earners, as well as small and medium-sized enterprises. The measures have been collated and endorsed y the Energy Policy Management Committee for consideration at today’s meeting. The four measures for consideration include a…
- Covid-19 News
Worst case scenario – Thailand loses 10 million tourists this year
Thailand’s tourist industry could be decimated in the wake of the world coronavirus outbreak. Tourism accounts for an estimated 16% of Thailand’s total GDP. The Tourism Authority of Thailand governor, Yutthasak Supasorn, says that, in a worst case scenario, Thailand could bleed 10 million of it’s projected 40 million tourist arrivals this year. He says his estimates were based on…
- Economy News
Thai PM Prayut quashes 2,000 baht handout package
Easy come, easy go. Well that was quick. Last Friday’s announcements for 2 x 1000 baht handouts to poorer Thai citizens has been quashed by the PM. Prime Minister Prayut officially shelved plans to hand out the cash to low income earners. Last Friday the Finance Ministry made the announcement for a new round of stimulus packages to prop up…
- Environment News
Major corporations join the fight against plastics
by Ghislaine Bovy Reduce. Re-use. Recycle. The public is now fully aware of the gigantic plastic pollution issue. They know it’s time to act and act now. Many of us have already “gone” into using reusable plastic bags, refillable bottles and buy fruits and vegetables in bulk instead of in individual plastic bags, small shops don’t give you a plastic…
- Economy News
Finance ministry announces new stimulus packages and tax breaks
Thailand’s Finance Ministry has announced a raft of new stimulus measures to help prop up parts of the Thai economy suffering under the impact of the coronavirus. They say the measures will assist “all sectors of Thai society currently affected by the Covid-19 situation”, which arrived at the same time as an economic slowdown, an export slump and drought. The…
- Technology News
What is 5G? Everything you should know about the next-gen mobile.
So what is 5G? 5G literally means fifth-generation wireless technology. The successor to 4G, the biggest changes include higher speeds, lower latency, and the ability to connect more devices at once. The benefits of 5G aren’t limited to its use. Qualcomm is predicting a $12.3 trillion economic boost worldwide, with 22 million new jobs thanks to both the infrastructure and…
- Thailand News
Thai Baht on the slide over fears of spread of Coronavirus outside China
What goes up must go down. The Thai baht has continued to weaken against leading international currencies, trading at 31.70 to the US$ in yesterday’s trade. The falls reflect regional concern over the coronavirus spreading beyond China. In the past few days both central South Korea and parts of northern Italy have reported outbreaks of the virus. Kasikorn Research Centre…
- Bangkok News
Slurpees, phonecard top-ups, snacks and now you can do your washing
…well, in one store anyway. Maybe more to come. You can pay your bills there, buy a Slurpee, get a good coffee and, now, do you washing too. A Bangkok 7-Eleven store has rolled out its own laundry service, not that anyone is going to be actually doing your laundry, but they will provide the washing machines. The laundromat at a…
- World News
The baht keeps surging – and other predictions for the Thai economy in 2020
The last time the Thai baht’s value against theUSD touched 29 baht/US dollar was back in 2013. But the currency appreciation situation was quite different then. Today it’s floating around 30 baht in its 22nd year as a floating international currency. How will all that affect the Thai economy in 2020? Now the strong baht is a result of the…
- Economy News
Thai exports down 4.5% in October, 2.35% for the year
PHOTO: Commerce Ministry Thai exports have crashed 4.5% for October 2019, compared with the same month last year. The total contraction in first 10 months of this year has now averaged 2.35%, and things don’t look like improving any time soon, according to the Commerce Ministry, as reported in the Bangkok Post. The director-general of the ministry’s Trade Policy and…
- Business News
China announces policies to lure foreign investors
PHOTO: Shanghai skyline – QANTAS Are the Chinese removing layers of ‘red’ tape? China is offering 20 new measures friendly to foreign investors, removing business restrictions to encourage a more “fair, transparent and predictable” business environment. China’s State Council released a guideline pledging to shorten negative lists and eliminate restrictions, opening up more sectors to foreign investors. The Nation reports…
- Economy News
Thailand’s ‘economic condition index’ expected to decline in Q3
PHOTO: Culture Trip Thailand’s household economic condition index is likely to drop further due to the ongoing global economic slowdown. Another drop would make it the third this year, measured in quarters. The slowdown is impacting the domestic economy and employment, according to the Kasikorn Thai research centre. Thai PBS reports that the latest ECI report indicates that a survey…
- Economy News
Ministry considering third round of the Chim Shop Chai stimulus packages
Deputy PM Somkid Jatusripitak is praising the Chim Shop Chai (Eat Shop Spend) scheme and has told the Finance Ministry to consider launching a third round before the end of the year. In a policy speech, he defended the scheme, saying it’s neither wasteful nor a populist policy, fending off accusations by critics. He insists the program has been successful in…
- Economy News
Thai exports will suffer from Trump labour rights decision
The Thai export sector will suffer another blow after the US President Donald Trump announced on Friday the suspension of 1.3 billion dollars worth of duty-free trade for certain Thai goods, claiming Thailand has not taken steps to protect the labor rights. In a letter to US House of Representatives Speaker Nancy Pelosi and Vice President Mike Pence, Trump said…
- Economy News
Thailand’s growth forecasts for the rest of 2019 slashed again
Following their most recent meeting, the Joint Standing Committee on Commerce, Industry and Banking has announced Thailand’s economic growth this year has been revised downward to between 2.7 – 3.0% from the previous projection of 2.9 – 3.3%. It has also revised down its prediction of this year’s exports to between minus 2 – 0%. The committee says the revised…
- Business News
Thai Airways under pressure to deliver workable business plan
Thai Airways is coming under more pressure, after being given 30 days to deliver its new rehabilitation and business plans. Thaworn Senniam, the Deputy Transport Minister, gave the instruction yesterday while meeting with the executive of the national carrier for an update on its financial status. He says the business plan must provide clear information on how the fortunes of…
- Business News
18 foreign companies receive licences to operate in Thailand – September
“Since January this year, 155 foreign companies have been granted licences to conduct business in Thailand.” The Thai Department of Business Development has granted licences, during September, to 18 foreign companies to conduct business in Thailand. The director-general Vuttikrai Leewiraphan says most of these companies are from Japan, Singapore and Hong Kong, employing 428 Thais and have an investment capital of…
- Business News
Thailand may lift ban on foreign investors for some innovation sectors
PHOTO: Marvin Meyer/Unsplash Thailand’s Commerce Ministry is considering whether to remove certain innovation-related businesses from the list of those open only to Thai citizens. The idea is being floated as a way of increasing foreign investment in Thailand, making the country a more attractive option for overseas companies. Deputy Director General of the Department of Business Development, Poonpong Naiyanapakorn says…
- Business News
Large Thai business feeling the effects of US-China trade war, rise of the baht
So what do Thailand’s big banks say? The ongoing US-China trade war and the appreciation of the Thai baht against other currencies is now starting to impact larger corporates in Thailand. Wasin Saiyawan, senior executive vice president and chief of wholesale banking at Siam Commercial Bank says, that although large businesses are resilient to any impact and their ability to…
- Economy News
Asian stock markets mostly rise on positive news
“China announced it would resume trade talks with the US in Washington next month.” Most Asian equities and currencies rallied today, building on the previous day’s advance as investors were cheered by a number of positive developments on trade, Hong Kong and Europe. Markets were already on an upward trajectory after the leader of Hong Kong withdrew a controversial extradition…
- World News
The Thai charm-offensive on the South Korean President
Thai PM Prayut Chan-o-cha is inviting South Korean investors to increase their investment and trade with Thailand. The PM says Cabinet will consider offering incentives for South Korean businesses to invest in the country. South Korean President Moon Jae-in capped off an official two day visit to the Kingdom yesterday. The Thailand-Korea Business Forum was held yesterday in Bangkok with…
- Environment News
Energy Minister pushing for investment in electric vehicle production in Thailand
PHOTO: Wikipedia Energy Minister, Sontirat Sontijirawong, has announced a package to allow for the production of electric vehicles in Thailand. The package includes incentives on investment, as well as on the production of components and batteries. It’s understood that the package also has measures to promote the wider use of electric vehicles among the public, following environmental and emissions concerns…
