economy
- World News
Sri Lanka’s doctors and nurses demand fuel and medicine
Sri Lanka’s medical staff is suffering from a shortage of fuel and medicine. Doctors and nurses say they are struggling to find enough fuel to get to work, even though they are designated, essential workers. On top of this, the island nation is suffering power cuts and shortages of food and medicines. On Wednesday, over 100 medical staff from the…
- World News
Sri Lanka suspends sale of petrol to public for next 2 weeks
The supply of petrol for cars in Sri Lanka has been suspended due to the country’s greatest economic crisis in decades. Only buses, trains, ambulances, and transport needed to deliver food will be permitted to refuel over the next 2 weeks. Authorities revealed that only 9,000 tonnes of diesel and 6,000 tonnes of gasoline are available to support the nation’s…
- Economy News
Thailand plans to negotiate with Saudi Arabia over fertiliser
Thailand is suffering a fertiliser shortage, with the country’s farmers bearing the high costs of imported fertilisers. Now, the Chamber of Commerce plans to negotiate with Saudi suppliers. Saudi Arabia recently allowed 2 of its suppliers to sell fertiliser to Thailand, according to Thai Commerce Minister Jurin Laksanawisit. The International Trade Promotion Department is scheduled to hold a business matching…
- Crime News
Cannabis vendor in central Thailand is making bank
One vendor in central Thailand is pretty happy about Thailand’s new cannabis laws. The vendor, 53 year old Khamphai, is bringing good vibes to local stoners in Ang Thong province, and over 1,000 baht a day to herself. Despite the announcement to decriminalise aspects of cannabis and marijuana use, specific laws and guidelines are yet to be presented to the…
- Phuket News
Phuket officials say local Sunday market rakes in 2 million baht a week
Phuket officials say that a weekly market in the island province’s main city district has raked in at least 2 million baht a week this month. A local leader said the famous “Lard Yai” Phuket Street Sunday Market has seen a jump in tourists visiting it every week, now that Thailand is slowly winding its tourism industry up again. The…
- Economy News
- Bangkok News
Bangkok man steals gold valued at 2 million baht after his crypto stash tanked
The impact of the crypto crisis is rearing its head in Bangkok. Yesterday, a man stole necklaces valued at 2 million baht from a gold shop in Phra Nakhon district of Thailand’s capital city. The man entered the gold shop before pulling out a gun, waving it at staff and customers. The shop’s owner, staff, and customers all fled to…
- Economy News
Poll shows that Thais like ‘soft power’
Thais are liking their government’s new ‘soft power’ promotion of the Kingdom to the rest of the world and to boost the local economy. The idea of soft promotion, or indirect promotion, took off after young rapper ‘Milli’ promoted the country’s signature sticky rice and mango dish in April. In the scheme, Thai authorities aim to promote the ‘5 Fs’…
- Economy News
In midst of price inflation, Thailand to freeze prices on dozens of products
In the midst of the world’s overwhelming price inflation, Thailand plans to freeze the prices of 46 items. The items are grouped into 9 categories, which are: paper and paper products, transport-related products, farm-related products, petroleum products, medicines, construction materials, “important” farm products, consumer products and food. The items include bicycle and car tires, motorcycles and trucks, water pumps, fertiliser,…
- Thailand Travel
Thailand’s cabinet approves budget to help Andaman tourism and development
Thailand’s cabinet is making it a priority to support development in the country’s Andaman provinces of Phuket, Phang Nga, Krabi, Trang, and Satun. The budget of 338.8 million baht will go towards 6 projects in environmental and tourism development. A budget of 80.8 million baht will go to health services and environmental systems projects at Lipe Island in Satun. A…
- World News
Pakistani government tells people “drink less tea” amidst economic crisis
Pakistan is the latest of several countries hit by an economic crisis. In the midst of the crisis, Pakistan’s Federal Minister for Planning and Development has some interesting instructions for citizens: drink less tea. Pakistan is the world’s largest importer of tea, buying more than US$640 million worth in 2020, according to the Observatory of Economic Complexity. The minister, Ahsan…
- Phuket News
Phuket officials hold job fair, wanting to solve unemployment problems
A job fair in Phuket yesterday featured over 30 employers receiving applications from hopeful searchers. Phuket’s Vice Governor Pichet, who facilitated the event’s opening, noted that “there is a lot of interest in applying for a job”. The fair advertised 1,000 vacancies. It was held at the Central Festival Phuket, in the middle of the island. Pichet added that the…
- Economy News
Employment at Thailand’s venues slowly picks up following nightlife reopening
Aspiring bartenders can dream again, because now that Thailand’s nightlife is ‘officially’ back on, venues are slowly employing again. The country’s pubs, bars, karaoke bars, massage parlors and other venues are picking up the pieces after having to lay off employees during the Covid-19 pandemic. This news comes after Thailand stopped requiring such venues to call themselves ‘restaurants’ on June…
- Economy News
Thai stock market is a favorite among foreign shareholders
Last month, foreign investor confidence in Thai stocks stayed strong, with the kingdom’s stock exchange recording net inflows of nearly 140 billion baht for the sixth month in a row. International investors believe that any food shortages will have a minimal effect on the Thai economy and that the tourism sector will rebound in the second half of 2022, according…
- World News
Singapore hails Thailand a leading digital nation in ASEAN
The Digital Economy and Society Minister, Chaiwut Thanakamanusorn, travelled to Singapore yesterday to sign a digital partnership agreement with Singapore’s Trade and Industry Minister Gan Kim Yong. Chaiwut, together with the Thai ambassador to Singapore, and the Thai PM’s secretary, met with Gan Kim Yong and agreed to promote 8 items on the MoU agenda, including digital transformation, e-commerce policies,…
- World News
Singapore is looking to Thailand and other countries for its chicken supplies
Singapore’s chicken supply is depending on Thailand, plus a few other countries, after Malaysia banned poultry exports last month. Before the ban, about a third of Singapore’s chicken came from Malaysia. In a country that takes its Chicken Rice meal VERY seriously, the situation has become an acute supply chain shortage in the island nation. Singaporean Minister of State for…
- Economy News
Migrant labour shortage threatens Thai food export industry
The threat of global food shortages due to the ongoing Russia Ukraine war has prompted several countries to buy and stock-pile food from Asia. The Thai food industry has witnessed a surge in larger international orders, but the honeymoon phase could be brief since a major labour shortage in the food sector remains unresolved, according to the Chairman of the…
- Economy News
PM Prayut’s 3 trillion baht budget slammed ‘pointless’ by MFP leader
Opposition Move Forward Party leader Pita Limjaroenrat has slammed PM Prayut Chan-o-cha’s spending plans ahead of tomorrow’s budget bill as “pointless.” PM Prayut will defend the government’s 3.2-trillion-baht 2023 budget bill in a three-day House debate starting tomorrow, explain why the sum is so large and his spending plans for the fiscal year. But the MFP leader landed the first…
- Economy News
Now there’s a Pepsi price surge coming to Thailand, too
Amidst Thailand’s skyrocketing prices on fuel, postal services, and palm oil, another item’s price is set to go up- Pepsi. Suntory Pepsico (Thailand) Beverage announced today that Pepsi’s price will rise by up to 2 baht per bottle starting June 1, now that the cost of plastic bottles and aluminium cans has risen. The company noted, however, that the price…
- Bangkok News
Thailand’s annual silk fair in Bangkok helps with ‘soft power’ scheme
The word ‘soft power’ has exploded into Thailand’s lexicon ever since young rapper ‘Milli’ promoted the country’s signature sticky rice and mango dish last month. In its soft power scheme, Thai authorities aim to promote the ‘5 Fs’ to the rest of the world. The 5 Fs are: food, films, fashion, fighting, and festivals. Now, Thai authorities say they will…
- Crime News
Governor to drain the swamp with Bangkok’s criminal fraternity
Chadchart Sittipunt made over 200 pledges prior to his landslide election victory last Sunday with the economy, environment, and health, high on his list of priorities. And when the Bangkok governor-elect vowed to clean up the metropolis, he wasn’t kidding. The 56 year old’s four-year term as governor began in earnest this week and, his agreement to use criminals to…
- Economy News
Thai PM suggest people only drive for “essential journeys”
Amidst the global surge in fuel prices impacting Thailand, a spokesman for PM Prayut Chan-o-cha is giving drivers some advice. The spokesman, Thanakorn Wangbunkhongchana, said yesterday that Prayut wants to keep prices as low as possible to help people avoid economic hardship. He said Prayut suggests people only use their private vehicles for “essential journeys” since the price of petrol…
- Phuket News
Things looking up in Phuket following return of international tourism
Provincial officials on the southern island of Phuket say the return of tourists has raised income levels and created more jobs. According to a Bangkok Post report, the return of international tourists has started to revive the island’s economy and reduced unemployment across Phuket. Data shared by Phuket governor, Narong Wunciew, reveals that since the launch of the Phuket sandbox…
- Thailand News
Thailand exempts cryptocurrency transfer VAT until 2023
The Royal Thai Government Gazette has formally announced a VAT exemption for transferring cryptocurrency from now until the end of 2023. The cabinet had approved the exemption of the value added tax, or VAT, for transferring cryptocurrency or digital tokens in March. Yesterday, the decision was passed into Thai law and will be in effect from yesterday until December 31,…
- Economy News
Unemployment rate dropped with removal of Covid-19 restrictions
Thailand’s unemployment rate dropped significantly since the coronavirus outbreak. The quota fell to 1.53% from 1.64% since the beginning of 2022 meaning just over 600,000 people are currently unemployed. Before the Covid-19 pandemic the unemployment rate was at 1% in Q1 of 2020, according to the National Economic and Social Development Council (NESDC). But the good news is that the…
- Economy News
Thailand’s bottled palm oil price continues to skyrocket
Efforts by Thailand’s palm oil farmers, extractors, and producers to cap the price of bottled palm oil at 64-66 baht per litre have proved fruitless. The price has now skyrocketed to 70-76 baht in some markets, according to a survey by Thai PBS. The survey says that in department stores, the price is 68 baht per litre or lower. Palm…
- World News
Thai AirAsia X becomes third airline in Thailand to file for bankruptcy
Thai AirAsia X, the international low-cost carrier under the AirAsia umbrella, has had its bankruptcy claim accepted by a Thai court. This makes it the third airline in Thailand, along with Nok Air and Thai Airways, to file for bankruptcy since the start of the Covid-19 pandemic. TAAX director, Tassapon Bijleveld, says all existing bookings will be honoured, including flights…
- Phuket News
Thai officials vow to solve household debt problem at Phuket event
Thai officials held a ‘Household Debt Reconciliation Fair’ in Phuket yesterday. At the event, Thailand’s Minister of Justice Somsak Thepsutin said the government has designated 2022 as the “Year of Solving Household Debt”. He said that 2,810 people had registered for the event. Somsak said that several government departments have organised events to “facilitate the mediation process of household debts…
- Economy News
New wages for Thailand’s skilled workers
Thailand’s cabinet has approved new wages for construction workers, industrial arts workers and service workers. The new wages are expected to come into effect 90 days after the announcement was made on Tuesday. In the construction industry, tilers considered ‘level 1’ will earn 465 baht per day. Those considered level 2 will earn 550 baht a day. Level 3 tilers…
- Economy News
Thailand’s government will likely keep diesel subsidies
After much drama and anxiety over announcements that Thailand’s diesel price could eventually jump to 40 baht per litre, PM Prayut Chan-o-cha has announced yesterday that the government will likely extend its subsidy programme that is due to end on May 20. The current subsidy has helped keep the price at about 32 baht per litre, even though the actual…
