financial

  • Lifestyle

    Don’t carry cash in Thailand

    Greetings esteemed travellers. The allure of Thailand’s untouched beaches and vibrant culture is indeed compelling. This was evidenced by the impressive 28.09 million individuals who journeyed to this remarkable destination last year. However, before embarking on your voyage to this picturesque land, it is crucial to take into account certain financial considerations. Recent modifications in policies have dictated that a…

  • Business News

    Thai industry leader defends Bank of Thailand’s financial autonomy

    Federation of Thai Industries (FTI) Vice Chairman Montri Mahaplerkpong voiced opposition to any proposals that would impede the Bank of Thailand‘s (BoT) authority over its financial stability management. Montri argued that the government should explore more palatable solutions to its disagreement with the BoT over policy rates, rather than attempting to curtail its power, which he sees as a contentious…

  • Business News

    Government’s financial burden increases with digital wallet project

    The government’s financial burden, expressed as the ratio of interest to estimated government revenue, is expected to rise from the current 8% to 11% in the coming year. This projected increase is due to the implementation of the government’s flagship digital wallet handout. An anonymous source from the Finance Ministry revealed that the present 8% ratio aligns with an A…

  • Guides

    Navigate debt guide: Laws and strategies for financial recovery

    Navigating through debt in Thailand presents a considerable challenge, particularly when confronted with language barriers, cultural nuances, and the complexities of its legal framework. For individuals seeking to address financial difficulties, acquiring a comprehensive understanding of the effective strategies for debt recovery within this Southeast Asian country is imperative. With proper guidance, not only is surmounting debt achievable, but it…

  • Business News

    Bitcoin ETFs close with largest discounts due to crypto plunge

    The largest spot-Bitcoin exchange-traded funds (ETFs) closed today with significant discounts to their underlying asset values, the biggest since their inception. This disparity emerged when the cryptocurrency plunged to its lowest in two months, consequently affecting the ETFs’ Bitcoin value tracking. The iShares Bitcoin Trust, a US$16 billion fund, closed approximately 1.7% below its net asset value. Other funds like…

  • Thailand News

    Prosecutor seeks mystery Thai musician captivating netizens

    In a heartwarming display of community and official concern, Director-General of the Prosecutor, Office of the Rights Protection and Legal Assistance to the Public (NCPO), Kosonwat Inthuchanyong, has issued a public appeal seeking a young pianist whose piano playing in a local market has captured the attention of netizens. The boy, who has been performing to financially support his household,…

  • Thailand News

    Frozen pension policy: British expat’s dream turns into nightmare

    Expats in Thailand live a life many envy but behind the sunny façade lies a tale of financial struggle and dashed dreams. Three Britons became victims of a decades-long pension policy debacle, turning their golden years into a fight for survival. John Jones, a 77 year old British national, once roamed the globe with the vigour of a jet-setter, but…

  • Guides

    10 Signs you’re spending money wrong

    In a world where the allure of instant gratification often overshadows the virtue of financial prudence, it’s alarmingly easy to fall into the trap of mismanaging one’s finances. The subtle art of spending money wisely is lost on many, leading to a cycle of financial strain that seems inescapable. Recognising the signs of poor spending habits is the first step…

  • Business News

    Italian-Thai development grapples with liquidity crisis amid scandals

    Thailand’s leading construction firm, Italian-Thai Development Plc (ITD), is grappling with a liquidity crisis that has alarmed investors, regulators, and rating agencies. This scenario follows a series of local corporate scandals and debt defaults that have already unnerved the market. ITD confirmed yesterday, March 13, that it is seeking new loans from banks to alleviate the current cash crunch that…

  • Business News

    Stark Corporation’s interim CEO detained amid corporate scandal investigations

    Stark Corporation interim CEO Vonnarat Tangkaravakoon has been apprehended amidst ongoing investigations into a series of corporate scandals. Vonnarat, presently detained in a private hospital under the authority of the Department of Special Investigation (DSI), was initially taken into custody at the hospital where he was receiving medical care. A warrant issued by the Criminal Court facilitated his arrest yesterday,…

  • Thailand News

    Rayong solar company lays off 800 amid financial woes

    A prominent solar cell manufacturing company in Rayong has been forced to lay off a significant number of employees, totalling 800, affecting both day and night shifts. The layoffs come as a consequence of several months of financial strain where the company had deferred paying 75% of wages. The Chon Buri-Rayong News Page today reported that the company decided to…

  • Thailand News

    Community rallies to fund funeral for Thai grandmother

    A heart-wrenching tragedy unfolded in the small community of Khao Kuba in Thailand, as 62 year old Pranom succumbed to the challenges of caring for her bedridden 12 year old grandchild, Nong Tong. Nong Tong, who has been disabled since birth, grapples with severe muscular weakness. The grieving family, already burdened by sorrow, encountered the additional challenge of lacking the…

  • Business News

    Vietnam cuts bank stake limits to curb market manipulation risks

    Vietnam’s legislature passed a resolution to decrease the maximum stake investors can own in domestic banks. Coming into force in July, the law will limit the equity held by institutional investors, such as pension or investment funds, to 10%, down from the current 15%. The adjustment has been made in an attempt to mitigate the risk of market manipulation. This…

  • Business News

    Finance Ministry proposes joint venture asset management companies to aid debtors

    The Finance Ministry is advocating for collaborative investments between Specialised Financial Institutions (SFIs) and Asset Management Companies (AMCs), proposing the formation of joint venture asset management companies (JV-AMCs). This initiative aims to aid debtors who collectively hold three million accounts amounting to a total value of 230 billion baht, stated Paopoom Rojanasakul, the secretary to the finance minister. Rojanasakul explained…

  • Thailand News

    Thai disabilities fund unleashes hefty support for home repairs and rent

    The Empowerment for Persons with Disabilities Fund announced an expansion of financial support for house repairs and rent today, January 9, as declared by the Social Development and Human Security Minister, Varawut Silpa-archa. This revolutionary decision, inked during the fund’s pivotal meeting on December 27 last year, promises substantial relief for those navigating the challenges of disabilities. Varawut, the driving…

  • 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…

  • Economy News

    Thailand’s fiscal position geared to absorb potential economic shocks

    According to Pornchai Thiraveja, the director-general of the Fiscal Policy Office, Thailand’s robust fiscal position is well-equipped to buffer any potential economic shocks. The country boasts a fiscal space substantial enough to absorb crises equating to 10% of the GDP. The Thai financial institutions are stable economically, with a 19.9% Bank for International Settlements ratio, which is well above the…

  • Thailand News

    Thai economy set to boom with 106 billion baht splash with new year expenses

    The University of the Thai Chamber of Commerce (UTCC) predicts a staggering 106 billion baht surge in consumer spending during the upcoming New Year festivities – a four-year high that could inject new life into the nation’s financial veins. President Thanavath Phonvichai, the maestro behind this optimistic symphony, attributes the spending spree to the government’s strategic new year’s gift measures.…

  • Thailand News

    Thai restaurant owner loses 600,000 baht during family trip to France

    A 30 year old restaurant owner from Nonthaburi suffered a loss of over 600,000 baht during his recent family trip to France. He has shared his harrowing experience to alert others and prevent them from becoming victims. Thalerngsak Khongkwanmuang revealed yesterday, December 12, his ordeal which occurred between November 7 and 21 during his holiday in France with his 48 year…

  • Economy News

    Debt dilemma: Households in a financial bind as debt soars, Thai PM pledges change

    Thailand is in the grips of a financial crisis, with household debt skyrocketing to a staggering 16.07 trillion baht, a 3.6% surge compared to last year. Thai Prime Minister Srettha Thavisin vowed to address the problem of what he calls debt slavery. The National Economic and Social Development Council (NESDC) yesterday dropped a bombshell, revealing that Thailand’s household debt is…

  • Thailand News

    December horoscope: Astrologer reveals fortune in Thai baht

    As the year-end approaches, astrologer Thosporn cautions zodiac signs to stay vigilant during the final month of this year. The warning comes as he unveils the horoscope for December, highlighting the signs that will enjoy good fortune, those set to receive a significant monetary windfall, and those expected to experience luck in their relationships. However, some signs may face deception.…

  • Business News

    Thailand’s 2023 financial growth predictions revised down due to GDP data

    Economic analysts have recently revised their predictions for Thailand’s 2023 financial growth, due to disappointing third quarter GDP expansion data and uncertainties surrounding the contentious digital wallet policy. For the initial nine months of 2023, the economy grew by 1.9%. Maybank Securities, based in Malaysia, has reduced its 2023 Thai growth prediction from 2.9% to 2.3%. This decision was influenced…

  • Thailand News

    Chiang Mai MP refutes accusations of falsifying documents for party funds

    Chiang Mai’s Move Forward Party (MFP) MP, Phattarapong Leelaphat, refuted accusations of falsifying documents to garner financial support from his party yesterday. This controversy was brought to light by the Democrat Party’s Tankhun Jittitsara on Wednesday, November 8. In response to the allegations, Phattarapong took to Facebook, dismissing the claims as baseless. The politician explained that most of the funds…

  • Press Room

    Super Satang: Revolutionizing Youth Financial Literacy in Thailand

    The crisis of financial literacy in Thailand has reached crisis proportions, with startling statistics revealing a perilous landscape. Alarmingly, household debt has risen to 85% of the nation’s GDP, and an astounding 76% of the population plays the lottery, frequently at the expense of their financial stability. Against this bleak backdrop, Bangkok Patana School senior 17 year old Krishaan Phlaphongphanich,…

  • Economy News

    UOB report uncovers economic concerns and investment trends in ASEAN nations

    The United Overseas Bank (UOB) released a significant report revealing the current economic sentiments of citizens and businesses across five ASEAN nations – Singapore, Malaysia, Indonesia, Vietnam, and Thailand. Two days ago, Yuthchai Tayaratchakul, the Executive Vice President of UOB, provided a statement regarding the ASEAN Consumer Sentiment Study (ACSS). The UOB report aimed to shed light on the top…

  • Phuket News

    Phuket Airport taxi turmoil: Grab’s entry drives cabbies to complain

    Phuket’s International Airport taxi drivers filed an official complaint about reduced income following the inclusion of Grab as an authorized service at the airport, effective from last Friday, September 1. The complaint was submitted by Chukiat Panyawai, President of Phuket Business Car Service Cooperative Limited, to Rewat Areerob, President of Phuket Provincial Administration Organisation (PPAO), on September 6. Members of…

  • Thailand News

    Elderly allowance scheme raises financial accessibility concerns in Thailand

    In a bid to ease the strain on government finances, a transition from universal welfare payments to a stringent elderly allowance scheme has been initiated. This shift has been met with substantiated criticism, although the authorities maintain the necessity of the move, justifying it as a responsive adaptation to cope with Thailand’s rapidly ageing populace. In yesterday’s internal meeting of…

  • Economy News

    Tisco ESU advises focus shift to debt instruments amid market instability

    Amid global stock market turbulence, financial analysts at Tisco’s Economic Strategy Unit (Tisco ESU) are advocating that investors pivot their focus towards debt instruments for potential high-yield returns. The ongoing pressures from elevated bond yields, coupled with the weakening economies in the US and Europe, are some of the contributing factors exerting pressure on the financial markets. The ongoing macroeconomic…