business
- Business News
TNSC lowers Thailand’s export growth forecast due to global economic challenges
The Thai National Shippers’ Council (TNSC) has revised its export growth forecast for Thailand, predicting a 0-1% increase due to negative factors and uncertainty in the US and Chinese economies, as well as ongoing geopolitical conflicts. Despite the downward revision, the group remains confident that Thailand’s exports will not contract this year. Chaichan Chareonsuk, chairman of the TNSC, stated that…
- Business News
US Federal Reserve considers final interest rate hike to tackle inflation
The US Federal Reserve has commenced a two-day meeting to determine if it will raise its benchmark lending rate for possibly the last time in this campaign, in an effort to tackle persistent inflation. Since March of last year, the Fed has embarked on a bold series of interest-rate hikes to address inflation, which currently stands at 5%, significantly higher…
- Business News
AMD shares fall as second-quarter forecast misses expectations
Shares of Advanced Micro Devices experienced a decline yesterday following a second-quarter forecast that failed to meet Wall Street expectations. This overshadowed the company executives’ optimism that the beleaguered chip market will begin to recover in the latter half of 2023. After AMD announced first-quarter sales below analyst predictions for PC and data centre chips, their two most significant segments,…
- Business News
Keppel Corp announces major restructuring and growth plans
Singapore‘s Keppel Corp, a former conglomerate with operations in a variety of sectors including data centres and renewable energy assets, unveiled a significant corporate restructuring plan today. The reorganisation will see the company divided into three distinct units – fund management, investment, and operating platforms, aiming to simplify and foster growth. The fund management arm will concentrate on raising funds,…
- Business News
Match Group forecasts lower Q2 revenue but sees Tinder growth signs
Match Group recently projected second-quarter revenue below analysts’ expectations, yet indicated signs of potential growth at its dating platform, Tinder. The company implemented changes to product and marketing execution at Tinder and, although not yet evident in financial results, has observed early indications of increased momentum, according to a letter to shareholders. Following the announcement, the firm’s stock, whose revenue…
- Business News
MGM Resorts set sights on Thailand that could help attract more tourists
Thailand, which has notoriously steered away from gambling, has started to make moves towards legalising casinos – with the hope that it could put them up there with other famous gambling destinations and attract more tourists to the country. In the past few months, lawmakers in the country have approved a report, meaning that there is a very real possibility…
- Thailand News
Thailand’s top 10 most expensive condos
Thailand is home to 15 condominium projects selling condo units for more than 50 million baht each, according to the Agency for Real Estate Affairs (AREA). Matichon reports that the President of AREA’s Thai Real Estate Research and Valuation Information Centre, Sophon Pornchokchai, revealed on Tuesday that the most expensive condominium unit in Thailand is worth a whopping 887.2 million…
- Business News
Thailand woos crypto companies with tax waiver
Thailand‘s Cabinet approved a tax waiver for cryptocurrency firms yesterday. The Cabinet decided that companies raising funds by issuing digital tokens for investment are exempt from paying corporate income tax and value-added tax (VAT), according to a government spokesperson. Once the new tax waiver is implemented, crypto companies can issue investment tokens in Thailand without any tax on primary or secondary…
- Thailand News
Thai farmer makes 1 million baht per month selling buffalo semen
A farmer in Kalasin province in northeast Thailand makes 1 million baht every month by selling semen from one special water buffalo named “Big Billion.” Water buffalo (“kwai” in Thai language) breeders all around the kingdom pay high prices for the semen of Big Billion, a ‘textbook’ Thai water buffalo worth 30 million baht. Breeders use Big Billion’s seed to…
- Thailand News
PM Prayut proud of Thailand’s pineapples
Prime Minister Prayut Chan-o-cha‘s face lit up with joy when he heard that Thailand is the biggest exporter of canned pineapple in the world, according to government spokesperson Anucha Burapachaisri. PM Prayut was “delighted” when the Agriculture Ministry informed him that Thailand holds a 32% share in the global canned pineapple market – the biggest in the world – valued…
- World News
Starbucks makes its Laos debut with unique local touches
Starbucks today made its debut in Laos, the nation’s first store. The coffee shop opened in the Lao capital of Vientiane at Parkson Mall, an office and shopping development in the heart of the city. The new Starbucks hopes to contribute to Laos’ thriving coffee culture. The store’s architecture is uniquely Laotian, there is a handcrafted, textured door handle. The…
- Phuket News
Seminar on business and human rights held in Phuket
Thai officials held a seminar in Phuket on Monday about the importance of human rights in business. The National Human Rights Commissioner of Thailand, Pitikan Sithidejheld, lead the seminar at the Royal Phuket City Hotel in the main city district. The event was titled “Seminar to Promote Business and Human Rights for Business Operations in Phuket Area.” Phuket’s Vice Governor…
- Thailand News
Thai Airways sells five Airbus A340s stored away for 13 years
Thai Airways (THAI) has found a buyer for five dusty Airbus A340s which have gone unused for 13 years. Thailand’s flag carrier has sold one A340-500 and four A340-600 planes for a total of 350 million baht. The transaction is sure to help THAI on its road to financial recovery since the Bankruptcy Court approved a debt restructuring plan for…
- Crime News
UPDATE: Fraudulent Japanese restaurant owner denied bail
UPDATE: Fraudulent Japanese restaurant owner denied bail The court denied the owner of Daruma Sushi’s request for bail this afternoon after he was arrested by police at Suvarnabhumi Airport yesterday. Police say “Metha” has caused millions of baht in damages and has countless allegations against him. The 39 year old owner of Daruma Sushi – Metha Chalingsook – got into…
- Crime News
UPDATE: Police arrest fraudulent Japanese restaurant owner at Suvarnabhumi Airport
UPDATE: Police arrest fraudulent Japanese restaurant owner at Suvarnabhumi Airport Today, Thailand’s Central Investigation Bureau arrested the fraudulent owner of Daruma Sushi, a famous Japanese restaurant chain, at Suvarnabhumi Airport. “Metha” returned to Thailand today having fled to Dubai in the UAE on June 16, after he received over 500 complaints from unhappy customers and staff. Police said Metha caused…
- Crime News
Japanese restaurant owner makes slippery getaway
The owner of a popular Japanese buffet restaurant, Daruma Sushi, made a slippery getaway from Thailand last week leaving a trail of chaos behind and complaints from over 500 people. A number of those people had lodged fraudulent complaints against the owner with the police and the consumer protection agency. The owner disappeared a day before he closed all 27…
- World News
AirAsia launched a “super-app” to compete with the likes of Grab
The popular low-cost Malaysian airline, AirAsia, debuted its “super app” for ride-hailing in Thailand today, which provides a variety of services ranging from car rides similar to Grab, and Bolt, to flight reservations and food ordering, in an already booming industry. There are currently 3,000 registered drivers in the Bangkok metropolis, with ambitions to recruit more as tourism slowly picks…
- World News
Kasikornbank bank buys 67% of Indonesian bank, Bank Maspion
One of Thailand’s premier banks, Kasikornbank, has purchased majority shareholding in Indonesian bank, Bank Maspion, for US$220 million. The agreement should be completed by the end of the year, with Kbank owning 67.5% of Maspion shares. Two years ago, rival competitor Bangkok Bank splashed almost US$2.3 billion baht in an Indonesian bank, Bank Permata. Following a plan to spend US$20…
- World News
Saudi deal to inject ‘billions’ into Thai economy
Thailand is to welcome a delegation from oil-rich Saudi Arabia in July which could potentially inject “billions” into the nation’s economy. Board of Trade of Thailand Chairman Sanan Angubolkul yesterday revealed delegations from both the private and public sector of Saudi Arabia are scheduled to visit the kingdom from July 4-7 to discuss trade and investment between the two countries.…
- Business News
Uncertainty hangs over Bangkok-Betong route as Nok Air considers its options
Nok Air’s flights between Bangkok and Betong, in the southernmost province of Yala, could be in jeopardy, as the carrier considers its options. The struggling low-cost airline is incurring financial losses on the Don Mueang to Betong route, according to Nok Air CEO, Wutthiphum Jurangkool. According to a Bangkok Post report, the airline expects losses to reach 40 million baht…
- Business News
Thai airlines say recovery being held up by high fuel prices
The head of commercial operations at Thai Lion Air says high oil prices continue to hinder recovery in the aviation sector. Nuntaporn Komonsittivate says that, while tourism is slowly improving since the easing of entry restrictions, airlines are still struggling. “The airline business has grappled with the pandemic for more than 2 years. Oil prices account for 30% of operational…
- China News
Strict Covid-19 rules make companies in China think about moving investments
Now that 43 cities in China are under either full or partial lockdown, more and more European companies in the country are seeking to move their investments. The European Chamber of Commerce in China announced today that nearly a quarter of respondents on a survey were considering moving current or planned investments out of China. 92% of the respondents say…
- News
Thai government to control inflation prices for consumer products
As the Thai government attempts to control inflation, the PM Prayut Chan-o-cha says that there must be no shortages of consumer products or outages, and the prices must not be too expensive. The world wide inflation problems have been created by government’s artificially over-heating economies with quantitative easing rising energy and commodity prices and exacerbated by the ongoing Russia-Ukraine war.…
- Thailand News
Gamers in Thailand can rent out SF Cinema theatres from now until May 3
Gamers everywhere are familiar with the pleasure of playing video games on the sofa in the comfort of their own living room. But just imagine the next-level fun of playing your favorite RPG or first-person shooter on the silver screen, complete with a thundering cinematic sound system. That’s exactly the kind of upgraded experience SF Cinema is offering in its…
- Thailand News
IKEA to open another store in Bangkok’s Phrom Phong area
Last week, IKEA, the famous Swedish furniture company, announced is set to open another store in Bangkok’s Phrom Phong in the Emsphere, Emporium and Emquatier shopping district. The IKEA complex is still under construction and there is no announcement on the planned opening date. This will be their fourth location in Thailand alongside Mega Bangna, Central Westgate, IKEA Phuket. Mega…
- Thailand News
Workers on online platforms are reportedly underpaid – Thailand Labour Ministry
Since the outbreak of Covid-19, a lot of people have been working from home, and many have become freelancers. The idea might sound good on paper, but they faced many challenges from having limited access to government welfare and being underpaid and undervalued. Thai Health Promotion Foundation and the Labour Ministry had organised a forum for people to voice their…
- Property News
Frasers to invest 10 billion baht in industrial space, ‘new economy’ by 2025
Frasers Property Industrial aims to invest 10 billion baht to expand its industrial buildings from 3 to 4 million square metres by 2025, with 50% of new projects directed at the “new economy” category, according to the Bangkok Post. FPIT expects to continue its dominance by expanding its market share to 60% — up from the pre-pandemic 40%. This year,…
- Bangkok News
Bangkok instant noodle shop draws thousands of teens
A Bangkok instant noodle shop that opened in October last year has drawn thousands of teenagers since its opening. The shop, called Good Noodle, is stocked with noodles from Indonesia, South Korea, China, Taiwan and Hong Kong. Good Noodle doesn’t just sell noodles, though. It also allows customers to to prepare their meals and eat there, even though the noodles…
- Thailand News
Carl’s Jr. says goodbye to Thailand, stores in Bangkok and Pattaya close next week
The American fast-food chain, Carl’s Jr., is saying goodbye to Thailand. All six of its stores in Bangkok and Pattaya will close by the end of the month. The R&R Restaurant Group, which owns the franchise rights to run Carl’s Jr. chains in Thailand, says that it can no longer afford to operate it. The group says it was forced to…
- Property
Sansiri to launch 28 low-rise properties in 2022, bolstering ‘affordable’ housing in Thailand
Thailand real estate developer Sansiri says it aims to launch 28 new projects worth 39 billion baht in 2022, more than double last year’s figure, citing its growing confidence in low-rise housing projects for the domestic market. Last year, Sansiri’s presales for low-rise properties totalled 22.4 billion baht, comfortably exceeding its goal of 20 billion baht by 12%, according to…
