business
- Thailand News
Thailand’s transit twist: Electric plans spark train fare cap talks in Bangkok
The Department of Rail Transport (DRT) in Thailand is currently considering plans to deliver on the Pheu Thai-led coalition’s promise of introducing a cap on Bangkok’s electric train fares at 20 baht per trip. This was announced by a department source on Monday, who also revealed that the findings from this investigation will be presented to the new administration once…
- Business News
Banking on change: Kasikornbank unveils shakeup with fresh faces and spin-off plans
Kasikornbank (KBank), Thailand’s second-largest lender by total assets, revealed a significant restructuring of its business operations. This includes the introduction of a new president, co-president, and a spin-off strategy. KBank notified the Stock Exchange of Thailand (SET) yesterday about the appointment of Chongrak Rattanapian to the position of president and executive director, effective from August 29. Chongrak, with over 20…
- Business News
Thai AirAsia targets 40% domestic market share by 2023, plans Japan expansion
Thai AirAsia, a leading low-cost airline, has set a goal to command 40% of the passenger market share domestically by the close of 2023. This comes as the airline intends to introduce two additional routes in Japan in the upcoming year. In a revealing disclosure, Santisuk Klongchaiya, the Chief Executive of Thai AirAsia, mentioned that the airline’s market share in…
- World News
OnlyFans’ pre-tax profits soar to 18.5 billion baht as user numbers surge
OnlyFans, the renowned online platform for content creators, has reported a staggering dividend of US$338 million, equivalent to approximately 11.9 billion baht. Phoenix International, the parent company of OnlyFans with its headquarters in England, disclosed that annual profits have soared beyond US$500 million (17.6 billion baht). This follows an influx of more than three million creators and over 240 million…
- Technology News
McKinsey foresees AI technology dominating Thailand’s future
The Thai branch of global consultancy McKinsey & Company predicts that the three most impactful trends for Thailand over the next year will be generative artificial intelligence (AI), immersive technology, and climate technology. The prediction is a part of the company’s 2023 Tech Trends Outlook, which was published in July. Gordon Candelin, senior expert and leader of McKinsey Design Southeast…
- Business News
Thailand sees 17% boost in foreign investment, hitting 58.9 billion baht in 7 months
Thailand saw a 17% increase in foreign investment, reaching 58.9 billion baht in the first seven months of this year. The announcement was made yesterday by Rachada Dhnadirek, the deputy government spokeswoman. Investors from Japan played a major role, with 94 groups contributing 19.89 billion baht. The United States followed with 67 entities investing 3 billion baht. Singapore had 61…
- Thailand News
Jewellery district on fire, but not in a good way: Bangkok blaze barely misses the bling
Bangkok’s Bang Rak district was jolted awake in the early hours as a fire broke out at a jewellery import-export company today. Fortunately, the blaze was contained before it could spread to the vault. The preliminary speculation points towards an electrical circuit malfunction as a possible cause. Around 12.10am today, Deputy Superintendent Patiwat Ruangphoeng of the Bang Rak Police Station…
- Business News
Thai consumer confidence dips due to political instability and slow recovery
Reports today reveal that last month Thai consumer confidence dramatically dropped for the first time in 14 months. Evidence pointed towards the general unease of continuous political instability in the Kingdom of Thailand after the General Election took place in May, as well as a sluggishly recovering economy. The survey, helmed by the esteemed University of the Thai Chamber of…
- Business News
Flavorful finances: Thailand’s July inflation stays mild
The Ministry of Commerce in Thailand revealed that July’s headline inflation saw less acceleration than anticipated, credited largely to a dip in food and energy costs. Meanwhile, forecasts by the agency anticipate the inflation rate’s upturn by less than 1% per month until the year concludes. July’s year-on-year headline inflation amounted to a 0.38% rise, measured via the consumer price…
- Business News
Thailand’s bid to become smart, eco-friendly logistics hub in ASEAN
In the realm of business and industry, a campaign is gaining traction in which the government is being urged to bolster the country’s standing as a prospective eco-friendly hub for logistics within the prominent Southeast East Asian alliance, the Association of Southeast Asian Nations (ASEAN). Moreover, there is a strong emphasis on preparing businesses to adapt to the dawn of…
- Best of
Top 10 Digital Marketing Agencies In Thailand (2024)
Are you searching for a trustworthy digital marketing agency in Thailand? The digital marketing industry is highly competitive, especially in Thailand’s tropical paradise, where picturesque photo opportunities are around every corner. It really is a content creator’s dream. But how do you go about finding the best of the best without having to endlessly scroll through brands you aren’t sure…
- Business News
Business events sector in Thailand set for a boost with projected tourism rebound
The business events sector in Thailand is set to benefit from the buoyancy of the country’s tourism industry and a new influx of trade shows this year, fuelled in part by the country’s stable political environment, according to specialists at Informa Markets Thailand. Sanchai Noombunnam, who helms the firm in Thailand, drew attention to predictions that the country would recoup…
- Business News
Thai businesses call for swift government formation
A speedy establishment of a new administration is of paramount importance, according to the business community amid ongoing political uncertainty. Chookiat Ophaswongse, an honorary president of the Thai Rice Exporters Association voiced concerns over the nebulous political situation, indicating the future of Move Forward Party leader Pita Limjaroenrat as the next prime minister is uncertain, making the country vulnerable to…
- Business News
High-end watch demand increases among younger Thai generation
A constant evolution and inherent value have ensured a secure niche for high-end watches in today’s market, said Narun Thamavaranukup, the managing director of watch distribution company, PMT The Hour Glass. With smartphones ubiquitous, one might think wristwatches would lose their charm. However, as Narun says, these timepieces are more than mere instruments to tell time. For Narun, watches play…
- Politics News
Thai political truce sparks hopeful business and economic recovery prospects
Thailand‘s business leaders anticipate a more positive path for the Move Forward Party (MFP) and its seven ally political parties to constitute a government and address economic challenges, following the agreement on a House speaker. The MFP had earlier been engaged in disputes with the Pheu Thai Party over this significant role in the House of Representatives. The conflict was resolved…
- Business News
Buying a franchise Vs buying a business: The benefits and drawbacks of each option
Are you considering starting your own business? Do you have the motivation and desire to be an entrepreneur but are unsure of which route to take? Buying a franchise or buying a business are two popular options for aspiring entrepreneurs. Both have their own set of benefits and drawbacks. In this article, we’ll explore the benefits and drawbacks of each…
- Business News
Sky ICT’s subsidiary Pro Inside eyes Stock Exchange of Thailand listing
Sky ICT, a SET-listed aviation technology firm, is planning to list its wholly-owned subsidiary Pro Inside on the Stock Exchange of Thailand in early 2024, in a bid to create a new long-term revenue stream. Pro Inside, an intelligent system integrator, was separated from Sky ICT last year to focus on bidding for state projects. Pro Inside CEO Benyapa Chalermwat…
- World News
UBS set to complete Credit Suisse takeover, creating $1.6tn Swiss banking giant
Today, UBS announced its expectation to finalise the acquisition of Credit Suisse by June 12, forming a colossal Swiss bank with a US$1.6 trillion balance sheet. The completion of the takeover is contingent on the registration statement being declared effective by the US Securities and Exchange Commission and other remaining closing conditions. “UBS expects to complete the acquisition of Credit…
- Business News
Lee Kum Kee eyes Thai ready-to-eat market expansion (video)
Asian sauce and seasoning manufacturer Lee Kum Kee Sauce Group is exploring opportunities to enter Thailand’s ready-to-eat food market through collaborations with local partners. Having been in the industry for 135 years, the company recognises the growth potential in this sector as it caters to the demands of busy consumers seeking convenience. Cheryl Chan, the regional marketing director of Mahsuri…
- Business News
Prudential Thailand hits record Q1 results, joins top six insurers
Prudential Life Assurance (Thailand) achieved a record-breaking first quarter in 2023, with the highest weighted first-year premiums in the company’s history, propelling it into the top six insurance providers in the country. During the first three months, the firm’s weighted first-year premiums grew by 36% year-on-year, surpassing the market growth of 17% and raising its market share from 5.7% in…
- Business News
Minor Hotels to reach 600 properties amid optimistic tourism outlook
Minor Hotels is set to expand its portfolio to 600 properties across 59 countries, with over 91,000 rooms this year, as the global tourism industry shows signs of recovery following the easing of Covid-19 infections. Dillip Rajakarier, Group Chief Executive of Minor International Plc and Chief Executive of Minor Hotels, believes that pent-up demand will drive the industry for years,…
- Business News
Thailand’s MPI growth faces stagnation amid export slowdown and high costs
The Manufacturing Production Index (MPI) in Thailand is predicted to experience subdued growth of 0-1% this year, owing to a combination of domestic and international business challenges. The April MPI reading was the lowest in 34 months, with an 8.14% year-on-year drop to 83.5 points, marking the seventh consecutive decline since October last year, according to the Office of Industrial…
- Business News
Nvidia valuation drops despite rally as earnings estimates outpace share price
Nvidia Corp’s impressive stock rally in recent days has seen the chip developer’s valuation decrease, as measured by the forward price/earnings (P/E) ratio. Over the last three sessions, the company’s stock has risen more than 31%, with a 3% gain reaching $401.11. Despite this, Nvidia’s P/E multiple has fallen due to Wall Street’s earnings expectations for the company rising even…
- Business News
Toyota motor Thailand bracing for car sales slump amidst political uncertainty
Toyota Motor Thailand predicts a further decline in car sales this month due to the ongoing political uncertainty surrounding the formation of a new government and its policies. Thailand held a General Election on May 14, with the Move Forward Party (MFP) securing the most seats in the House of Representatives. However, it is still uncertain whether the party can…
- Business News
Netflix expands password crackdown to US and 100+ countries
In an effort to tackle password sharing and increase revenue, Netflix has expanded its crackdown on account sharing to the United States and over 100 other countries, including the United Kingdom, France, Germany, Australia, Singapore, Mexico, and Brazil. The streaming giant has been seeking new ways to generate income as it faces potential market saturation, with measures such as limiting…
- Business News
Dyson aims to double product range, expand beyond home innovations by 2025
Dyson, renowned for its innovative household appliances, has been focusing on making everyday tasks more efficient and convenient for users. The development of such cutting-edge products often takes years and numerous prototypes, with Dyson’s bagless vacuum cleaner taking over five years and 5,127 prototypes to perfect. The company’s entrance into the beauty market with its hair dryer involved four years…
- World News
Singapore firms eye Central Asia’s growing consumer market for expansion
Central Asia, a region known for its landlocked countries, may not be the most obvious choice for Singaporean businesses looking to expand their horizons. However, Enterprise Singapore (EnterpriseSG) believes that the area’s growing consumer market and young population can offer early-mover advantages for companies, particularly in sectors such as urban infrastructure, technology, and innovative consumer products. Despite Central Asia’s strategic…
- Business News
Sony considers spinning off financial arm to focus on entertainment, sensors
Sony Group Corporation announced today that it is exploring the possibility of a partial spin-off of its financial business, Sony Financial Group, just three years after obtaining full control. The move comes as the conglomerate focuses on strengthening its entertainment and image sensor sectors. Sony is considering a two to three-year timeline for the spin-off, with plans to list the…
- Business News
FTI urges swift Thai coalition to back high-tech hub and green growth
The Federation of Thai Industries (FTI) is preparing a position paper outlining the economic policies favoured by businesses, with plans to submit it to the newly formed government once it takes office. Montri Mahaplerkpong, the FTI vice-chairman, stated that the paper is in its final stages and should be approved by the end of the month. The document will highlight…
- Thailand News
Thailand’s economy defies global recession fears with post-election boost
Thailand’s economy is predicted to gain momentum during the last three quarters of this year, despite the looming threat of a global recession, partly due to the boost from the May 14 General Election, according to analysts. The country’s GDP growth for the first quarter was 2.7% year-on-year, surpassing the expected 2.3% and marking an improvement from the 1.4% growth…
