business
- Covid-19 News
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…
- Business News
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…
- Covid-19 News
Phase 4 of relaxations may come sooner according to CCSA
The government’s Centre for Covid-19 Situation Administration reported today that pubs, bars and entertainment facilities would be permitted to reopen in the coming weeks if the regular count of new Covid-19 cases remains in single digits. Dr Taweesilp has confirmed that the Covid-19 situation in Thailand continues to improve and has dropped to single digits for the past 22 days.…
- Economy News
Thai GDP drops nearly 2% in first quarter
The Thai economy’s slumped by nearly 2% year-on-year during Q1, 2020. In it’s full-year forecast, the National Economic and Social Development Council forecasts that the Thai GDP would drop 5-6% for the year. As a comparison, the economy tanked 7.6% during the 1997 financial crisis. The Gross Domestic Product in Q1 dropped by 1.8%, compared to a rise of 1.5% in the…
- Business News
Tesco addressing migrant worker abuse at Thailand distribution centres
Migrant workers at Tesco’s distribution centres in Thailand are being abused, according to an annual modern slavery statement from the UK-based company. Out of 187 migrant workers interviewed in Thailand, many had issues with unexplained and illegal wage reductions, excessive overtime hours, indebtedness through recruitment fees. Migrant workers at Tesco’s distribution centres in Malaysia had similar problems. Last year, Tesco reported migrant workers…
- Covid-19 News
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…
- Food
Social distancing pandas fill empty seats at Bangkok restaurant
An “X” usually marks the seats in restaurants and other establishments to make sure people are social distancing to prevent spread of the coronavirus. Sometimes the “X” on the empty is marked with red tape, unintentionally sending a negative message. Now one Vietnamese restaurant in Bangkok has found a more fun way to make sure people are sitting apart but…
- Covid-19 News
Tenants bailing out of pricey Bangkok offices amid pandemic
Bangkok’s high-end office district is looking more like a ghost town as the coronavirus pandemic seems to have many companies bailing out of their pricey office spaces. The increasing vacancy trend of Grade-A office space is expected to continue, possibly until a coronavirus vaccine is in effect, according to managing director of Phoenix Property Development and Consultancy, Surachet Kongcheep. Business owners have…
- Covid-19 News
Businesses opening back up, some aren’t following the rules
While restrictions are being lifted, some businesses seem a little too excited about getting back to normal and are letting their guard down when it comes to social distancing and Covid-19 prevention practices. Businesses are required to provide hand sanitising gel, wear face masks and make sure people stay a safe distance apart. Upon inspection this month, most businesses are…
- Covid-19 News
CCSA will announce list of businesses, activities that can recommence
Dr. Taweesilp Visanuyothin, spokesman for the Centre for COVID-19 Situation Administration, has announced that the CCSA will likely decide on Friday on a full list of business and leisure activities which will be allowed to resume as part of the second phase of leasing Emergency Decree restrictions. The national state of emergency was declared in March to halt the spread…
- Covid-19 News
Businesses banned from shutting down during emergency decree
Employers have been left perplexed by an order from the Thai Labour Ministry forbidding them from shutting down their businesses during the emergency decree. The same order bans employees from taking part in any industrial action. A report in Nation Thailand says companies that have already closed are being instructed to re-open, and employees advised to return to work, with…
- Covid-19 News
Thailand’s GDP to contract up to 5% for 2020 – business thinktank
Thailand’s GDP is expected to contract between 3-5% for 2020, and exports by up to 10%. The predictions from Suphan Mongkolsuthee, president of the Federation of Thai Industries and chairman of the private sector joint committee. He also believes that the Thai economy has probably reached its ‘low point’ and will start recovering from now. He said that, as the…
- Business News
Business recovery in the Covid-19 era
As some countries begin to tentatively look to reboot their economies in a Covid-19 world, what does the future hold for business? Nation Thailand reports today on an extensive Bank of Thailand survey that examined the impact of the pandemic on four business sectors and what might happen next. Things are looking a bit brighter for the manufacturing and retail…
- Covid-19 News
Bangkok Governor orders 34 ‘at risk’ businesses to stay closed
Here’s 34 types of businesses that will remain closed around Bangkok until at least May 31. Bangkok’s Governor Aswin Khwanmuang ordered the temporary closure of these 34 locations that pose a risk for Covid-19 infection. This only pertains to businesses in Bangkok. 1. Theatre, cinema, playhouse 2. Pub, bar, entertainment venue 3. Water park, amusement park 4. Playground, children’s play…
- Economy News
Former union leader calls for total overhaul at Thai Airways
The former president of the Thai Airways union is calling for a complete revamp of the airline, including the ousting of all existing board members. The call follows years of crippling losses, bailouts and promises of a corporate cleanout. The Bangkok Post reports that Chamsri Sukchotrat made the call in a Facebook post, addressing PM Prayut Chan-o-cha in his role…
- Covid-19 News
Chiang Mai governor meets related sectors at Chaloem Phrakiat meeting room
Today at the Chaloem Phrakiat Meeting Room, in Chiang Mai, Charoenrit Sanguansat the governor of Chiang Mai, along with 3 deputy governors, 25 sheriffs (from all districts), heads of government, prosecutors, military officials, police and related sectors, came for a briefing on how Chiang Mai will move towards opening up the province in the upcoming weeks. Charonenrit says that even…
- Covid-19 News
Buriram and Chon Buri get ready for easing of restrictions starting May 1
“Anyone leaving the province will have the stickers removed and, upon their return to the province, will have to enter quarantine..” – Buriram Governor Two of Thailand’s provinces have already declared they will begin relaxing provincial ‘lockdowns’ from May 1. Buri Ram, in the north east, and Chon Buri, south east of Bangkok, have separately announced a progressive relaxing of lockdown…
- 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
Minister: Don’t worry about energy supply while working from home
Energy Minister Sonthirat Sonthijirawong reassured the public on Saturday that even though many are now working from home to promote social distancing and stem the spread of the Covid-19 coronavirus, his ministry will ensure an adequate electricity supply. “I have ordered all related agencies, especially the Electricity Generating Authority of Thailand, to monitor power usage closely and evaluate the situation…
- 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…
- Business News
Thailand CP Group’s take over bid for Tesco Asia
The 332.6 billion baht deal between the UK’s Tesco-branded Asian interests and Thai conglomerate CP Group, is coming under scrutiny as there are fears it could lead to a mega-retail monopoly. In the deal, the Chareon Pokphand Group will acquire all of Tesco Asia. CPAll and CPF informed the Stock Exchange of Thailand of their surprise investment in Tesco Asia…
- 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…
- Tourism News
Thai tourism ministry proposes 5 billion baht in tourist stimulus packages
Tourism and Sports Minister Phiphat Ratchakitprakarn says he will propose new domestic travel stimulus packages valued at 5 billion baht this Friday. The Minister says the aim is to cushion the impact of the coronavirus for the tourism service sector across the country. The Minister says that domestic tourism is “the priority during this difficult time. The government should implement…
- 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…
