economy

  • Thailand News

    Thailand’s potash push: Prosperity or peril?

    As Thailand eyes a leap into the lucrative potash market, concerns loom large over the potential environmental havoc it may unleash. Residents in the vicinity of Thailand’s solitary commercial potash mine have raised a chorus of apprehension, cautioning against Prime Minister Srettha Thavisin’s grand vision to catapult the nation into a leading potash producer. Their concerns centred around the likely…

  • Thailand News

    Vietnam’s rice exports soar towards 178 billion baht milestone

    Vietnam’s rice sector is projected for a remarkable milestone of US$5 billion (approximately 178 billion baht) in turnover. Anticipating a rollercoaster ride in the global rice market, experts emphasise the pivotal role of innovation and adaptable export strategies in propelling Vietnam towards its ambitious growth targets. The Ministry of Agriculture and Rural Development underscores the industry’s resilience despite a shrinking…

  • Thailand News

    Thai poultry exports soar, feathering their cap as world’s third-largest

    With over 100,000 tonnes of chicken valued at a staggering 100 billion baht shipped abroad last year alone, Thailand has secured its spot as the world’s third-largest exporter, trailing only behind Brazil and the US. Thailand’s poultry industry has been on an upward trajectory, with Chaweewan Kampa, President of the Poultry Promotion Association of Thailand, hailing the nation’s climb to…

  • Business News

    Chamber of Thailand calls for cut in interest rates to boost recovery

    The Thai Chamber of Commerce (TCC) expressed its expectations for the Bank of Thailand to consider a reduction in interest rates in its forthcoming meeting. The TCC argues that although the economy is on a recovery trajectory, it remains susceptible to various challenges. Sanan Angubolkul, the chairman of the chamber, acknowledged the decisions made by the Monetary Policy Committee (MPC)…

  • Press Room

    ROSHI unveils groundbreaking insights into personal lending trends

    Singapore-based Fintech ROSHI has released a detailed analysis that talks about what types of individuals use personal lending services to tackle financial pressures over 2023’s high inflation economy. This meticulous study utilised first-party application data to delve into the profile characteristics and utilisation patterns of numerous Singaporeans who sought personal loans from ROSHI to mitigate income disparities during the past…

  • Business News

    Samsung’s Galaxy S24 series boasts strong pre-orders in Thailand

    Thai Samsung Electronics’ Vice-President of Mobile Experience, Sitthichoke Nopchinabutr, expressed confidence in the company’s position in Thailand’s competitive smartphone segment. This follows the recent launch of Samsung’s Galaxy S24 series, equipped with advanced artificial intelligence (AI) capabilities. Sitthichoke revealed that the volume of pre-orders for the S24 series places Thailand among the top five markets globally. Moreover, it leads to…

  • Thailand News

    Thai hotels hit hard as property tax breaks end

    Thai hotels are facing an uphill battle this year as the government pulls the plug on property tax reductions and energy prices soar, sending operating costs skyrocketing by 10%. Marisa Sukosol Nunbhakdi, the President of the Thai Hotels Association (THA), reveals the dire consequences for hotel owners who enjoyed a 90% tax discount in 2020-21, only to see it evaporate…

  • Business News

    SET index may drop below 1,300 due to digital wallet handout

    The Stock Exchange of Thailand (SET) index could potentially plummet below the 1,300-point mark this year, warns the CEO of One Asset Management (ONEAM), Pote Harinasuta. This alarming projection is associated with the government’s proposed digital wallet handout which could result in Thailand’s credit rating being downgraded and a subsequent hike in corporate borrowing costs. Key factors that could influence…

  • Business News

    Bank of Thailand urged to slash interest rates amid economic struggle

    Pressure is mounting on the Bank of Thailand to ease the economic strain on small and medium-sized enterprises (SMEs) by slashing interest rates on commercial bank loans. Pichai Naripthaphan, deputy chairman of the Pheu Thai Party‘s strategies and politics committee and an advisor to Prime Minister Srettha Thavisin, argued that the central bank needs to acknowledge the real-world challenges people…

  • Business News

    Thai baht heads for poorest January since 2020

    The Thai baht, after experiencing a nearly 4% loss compared to the US dollar, is on track for its poorest January performance since 2020. The currency’s downfall signals further challenges ahead, given the significant outflows. Emerging Asia’s top-performing currency in the fourth quarter turned into this year’s biggest loser as global funds avoid Thai assets. This comes amid a dispute…

  • Guides

    Mastering gold trading in Thailand: Techniques and insights

    Gold trading in Thailand requires a combination of local market knowledge, global economic insights, and the implementation of advanced trading techniques. For those interested in trading gold in Thailand, mastering a variety of strategies and staying informed about market dynamics are key to success. Understanding the Thai gold market The Thai gold market is unique, with its own set of…

  • Guides

    Harnessing advanced techniques for gold trading in global markets

    Trading gold has been a cornerstone of global financial markets for centuries, standing as a symbol of wealth, stability, and a safe haven for investors. In the contemporary landscape, the dynamic nature of markets demands a sophisticated approach to gold trading, leveraging advanced techniques to navigate the complexities and capitalize on opportunities. This guide delves into the realms of harnessing…

  • Thailand News

    Experts warn of looming crisis for Thai economy

    Dr Pipat Leungnamritchai, the chief economist at Kiatnakin Phatra Bank warned that the Thai economy is treading on thin ice, relying on unsustainable factors for growth. According to a recent exposé by Krungthep Thurakij on January 20, the nation’s financial stability is hanging by a thread. Dr Pipat highlighted the precarious reliance on low-interest rates, fiscal stimuli, and the booming tourism…

  • Business News

    Chememan signs Khimsar agreement to become major lime producer in India

    Chememan Public Company Limited (CMAN), a leading lime producer, inked the Khimsar Agreement with Khimsar Mine Corporation (KMC), marking its initiative to set up a state-of-the-art lime factory in Khimsar, Rajasthan, India. This endeavour positions CMAN on the path of becoming a significant lime producer in India. The agreement was signed with KMC, a fresh entrant in the Indian mining…

  • Thailand News

    Hotel bookings skyrocket as visitors flock in

    Hotel giant Minor International Plc witnessed an astonishing 20 to 30% spike in bookings for the first two months of 2024 compared to last year. Minor International Plc, dominating the hospitality scene as the nation’s largest hotel operator, is on the brink of a prosperous year. Chairman Bill Heinecke unveils the exciting news, projecting a tourism spending spree in Thailand…

  • Thailand News

    Electricity bills set to stay steady despite global turmoil

    In an exclusive update from the Energy Regulatory Commission (ERC), consumers can breathe a sigh of relief as Secretary-General Komkrit Tantravanich guarantees minimal disruption to household electricity bills. Komkrit reassures the public that from May through August, electricity rates will hover between 4.20 to 4.25 baht per unit. Moreover, this promising price stability is linked to a surge in natural…

  • Thailand News

    Thailand’s major negotiation tool to be AI at World Economic Forum

    Prime Minister Srettha Thavisin is set to unleash Thailand’s secret weapon, artificial intelligence (AI), at the 54th World Economic Forum (WEF) in Davos. This year, the WEF is not just a meeting, it’s a battleground for global leaders navigating a world torn apart by geopolitics and AI advancements. Thailand’s 12th year at the WEF is more critical than ever, with…

  • Thailand News

    Thai PM denies hold up with digital wallet plan

    The government remains undeterred as it stands firm on its 10,000-baht digital wallet scheme, scheduled for a May launch, despite legal challenges. Prime Minister Srettha Thavisin promised a consensus after seeking opinions from key players. “We stand by the original timeframe.” The Council of State recently weighed in on the legality of the government’s plan to borrow a hefty 500…

  • Thailand News

    NESDC: China’s economic slowdown could have significant effect on Thailand

    Thailand is on high alert as the National Economic and Social Development Council (NESDC) closely monitors the ripple effects of China’s economic deceleration. Despite initial projections, China’s sluggish growth last year has cast shadows over Thailand’s economic prospects for the coming year. NESDC’s chief, Danucha Pichayanan, predicts Thailand’s economic expansion in 2024 to hover between 2.7% and 3.7%, with a…

  • Business News

    Thailand’s Central Retail eyes potential investment in Selfridges

    Central Retail Corp., a leading retailer in Thailand, indicated potential interest in investing in Selfridges, the renowned department store, given the right circumstances. The company outlined their investment criteria in a recent statement to the Thai stock exchange, stating that any new venture must align with its strategic business plan, be reasonably priced, and have optimal timing. The company made…

  • Thailand News

    Rice-rumble rocks markets: Thailand anticipates 15% export dip, global repercussions loom

    In a rice-rumble that could shake global markets, Thailand’s rice exports are poised to plunge by a staggering 15% this year. Thailand, the rice heavyweight, is set to face a double whammy. Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association, predicts a dip in demand from Indonesia, last year’s top buyer. “Indonesia, after its presidential election next…

  • Thailand News

    Commerce Ministry’s plan to catapult SMEs to 40% GDP by 2027

    The Commerce Ministry unleashed an ambitious plan to elevate small and medium-sized enterprises (SMEs) to new heights, targeting a staggering 40% contribution to the GDP by 2027. A comprehensive strategy is set to turbocharge consumption, investment, government spending, and international trade, propelling SMEs into the forefront of economic prowess. Acknowledging the pivotal role SMEs play in Thailand’s economic fabric, Commerce…

  • Thailand News

    Thailand’s Kra Isthmus Land Bridge promises economic boom for Penang Port

    Thailand is eyeing a colossal infrastructure project, a 90-kilometre land bridge across the Kra Isthmus, set to revolutionise maritime trade and shower economic benefits on ports in northern Peninsular Malaysia. Penang Port Sdn Bhd CEO V Sasedharan envisions this ambitious project as a potential game-changer, akin to the impact the Suez Canal had on Egyptian waterway-adjacent ports. The proposed land…

  • Thailand News

    Gold price dips to 33,900 baht per baht, says GTA

    The Gold Traders Association (GTA) decreased the gold price consecutively today compared to the closing price yesterday. The bullion price shifted to 33,900 baht (US$981) per baht today. Reporters stated that the GTA announced a 100 baht (US$2.89) decrease in today’s gold price compared to yesterday’s closing price, with the bullion price now standing at 33,900 baht (US$981) per baht,…

  • Thailand News

    Thai government to stimulate economy with digital wallet scheme

    The Thai government reaffirmed its commitment to launch the digital wallet scheme in May, a key policy of the ruling Pheu Thai Party. The scheme, financed by a 500 billion baht (US$14,518,005,000) loan, aims to inject 10,000 baht (US$290) into the digital wallet of every Thai citizen aged 16 and above as a means to stimulate the economy. The government…

  • Thailand News

    Thailand’s triumph and tribulations: OECD report urges bold reforms

    Thailand has made good economic recovery post-pandemic, with tourism as a major boost, however, a recent report from the Organisation for Co-operation and Development (OECD) highlights the need for bold reforms to solidify and extend this triumph. The second OECD Economic Survey of Thailand commends the nation for averting a severe economic downturn during the pandemic, crediting robust fiscal support.…

  • Pattaya News

    Pattaya’s tourism tide: Aims to lure 27 million visitors, making waves under local authority’s watch

    The coastal city of Pattaya, under the auspices of the local tourism authority, sets its sights on drawing an impressive 27 million visitors this year. Urai Mukpradapthong, the director of the Tourism Authority of Thailand‘s Pattaya office, revealed this target, noting that it isn’t ambitious given the predicted number of tourists last year, which is expected to have hit the…

  • Economy News

    Gold prices predicted to hit record highs by 2024, says MTS Gold

    MTS Gold, a local trader, predicted that gold prices are likely to skyrocket to new record levels of over 79,005 baht (US$2,300) per ounce and beyond 40,000 baht (US$1,164) per baht weight by this year. This forecast comes amidst anticipated adverse global economic situations. Kritcharat Hiranyasiri, the President of MTS Gold, explained that the anticipated decline in interest rates and…

  • Business News

    Thai investors anticipate surge in depositary receipts popularity in 2024

    Executives anticipate a surge in the popularity of depositary receipts (DRs) among Thai investors this year, with the investment tool offering a gateway to high-profile foreign stocks, risk diversification, and potential high returns. As they have become more prevalent on the Thai bourse, investors held DRs worth around 16 billion baht (US$466 million) on the Stock Exchange of Thailand (SET)…

  • Thailand News

    PM Srettha extends new year wishes, discusses govt’s plans

    On the advent of the new year, Thailand Prime Minister Srettha Thavisin, in company with Supreme Patriarch and House Speaker and Parliament President Wan Muhamad Noor Matha, extended heartfelt wishes to the nation and its inhabitants. PM Srettha started his year with a visit to Wat Ratchabophit, accompanied by his wife, Pakpilai Thavisin. They expressed their reverence to the Supreme…

  • Thailand News

    Thai Revenue Department mandates online platforms to submit trader income data from 2023

    The Thai Revenue Department has mandated online platforms to submit income data of online traders into the system, starting from the accounting period of January 1 in the upcoming year. The conditions were announced on today. Kulaya Tantitemit, the Director-General of the Revenue Department, announced on December 27, about income tax concerning the regulation for electronic platforms to prepare special…

  • Economy News

    World bank and ADB downgrade Thai GDP growth predictions for 2024

    The economic forecast for Thailand in 2024 is uncertain as the World Bank reduces the country’s GDP growth estimate from 3.4% to 2.5%. Factors influencing this include weak exports and fiscal consolidation. Furthermore, the Asian Development Bank (ADB) also downgraded its Thai GDP growth prediction from 3.5% to 2.5% for the same reasons. Looking towards 2024, GDP is expected to…

  • Thailand News

    Thai real estate faces perfect storm next year

    Thailand‘s pivotal real estate sector, a key economic force, anticipates a demanding 2024 due to substantial dependence on supply chains and various internal and external risks. Business entities foresee the need to adapt strategies, as the government prolongs the property transfer and mortgage registration fee reduction for an additional year to invigorate the market. Wongsakorn Prasitwipat, the managing director of…

  • Thailand News

    Influx of Chinese tourists set to boost hotel earnings in 2024

    Chinese tourist arrivals are staging a phenomenal comeback, promising a lucrative windfall for local hotels just in time for the high season. Analysts predict this tourist surge to continue its upward trajectory, creating an economic boom for the hotel industry. Chinese tourist arrivals are making an astonishing recovery this month, igniting hopes for a booming hospitality sector that analysts believe…

  • Thailand News

    Thailand and Malaysia join forces to boost economy

    Thailand and Malaysia have forged an alliance to supercharge development in the southern Thai region and the northern Malaysian peninsula. Prime Minister Anwar Ibrahim reveals this game-changing commitment after a late-night summit with Thai counterpart Srettha Thavisin in Phuket. Anwar took to Facebook to reveal the details. “A special joint committee at the highest level between the two countries will…

  • Thailand News

    Thailand’s export surge signals global economic boom

    Thailand‘s exports have skyrocketed for the fourth month in a row, unleashing economic fireworks just in time for the festive season. Thailand’s exports are on a jaw-dropping winning streak, marking a fourth consecutive monthly surge in November. Ministry of Commerce Permanent Secretary Keerati Rushchano explains this economic rollercoaster. “Exports of goods showed a remarkable expansion across the board, with agricultural…

  • Business News

    PTT helps Thai government lower power tariffs using contract breach fine

    PTT Plc, Thailand’s national oil and gas conglomerate, is slated to assist the government in lowering the power tariff in the early part of next year. This is to be achieved through the utilisation of 4.3 billion baht (US$124) from a fine imposed on its gas supplier for a breach of contract, according to an energy official. An inside source…