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- Business News
Thailand’s revenue department ups tax amid economic slowdown
The Revenue Department faces a challenging year in meeting its tax collection targets, owing to a slowdown in economic activities. Despite this, five sectors have been identified as promising. The department, led by director-general Kulaya Tantitemit, has increased its revenue collection target to 2.27 trillion baht (US$61.7 billion) for the fiscal year 2024, up from 2.02 trillion baht (US$55 billion)…
- Economy News
Gold ornament prices soar to 41,900 baht in Thailand
Gold prices in Thailand witnessed a notable increase, as reported by the Gold Traders Association (GTA) today. The cost of gold ornaments surged to 41,900 baht, marking a significant rise from the previous day’s closing figures. The GTA, the authoritative body on gold pricing in Thailand, announced an uptick of 200 baht in the price of gold ornaments compared to…
- Thailand News
Voluntary enlistment in Thai army sees notable increase
An increase in voluntary enlistment for the Royal Thai Army (RTA) was announced yesterday by an assistant army spokesperson. Compared to last year’s enlistment season, there is a notable rise in the number of males opting to join the ranks voluntarily. Assistant Army spokesperson, Captain Juthapat Prembanyat noted that from April 1 to 12 this year, 38,160 males across Thailand…
- Transport News
Songkran festival sees 1% rise in public transport usage in Thailand
Public transport usage during this year’s Songkran festival experienced a 1% increase compared to the corresponding period in the previous year, with around 5.6 million travellers across Thailand, as reported by the Transport Ministry. The minister, Suriya Juengrungreangkit, reassured that the public transport networks were effectively managing the increased number of passengers and vehicles on the country’s main transportation routes.…
- Business News
Gold prices experience significant rise, says GTA
Today saw a marked increase in gold prices, according to the Gold Traders Association (GTA). The buying prices for gold ornaments reached 34,473.84 baht (US$966) per baht weight, and gold bars were valued at 35,100 baht (US$984) per baht weight. On the other hand, the selling prices were determined at 35,700 baht (US$1,001) per baht weight for gold ornaments, while…
- Search Engine Marketing (SEM)
Mastering PPC bidding: Essential guide to strategy & optimization
Navigating the world of PPC bidding strategies can often feel like traversing a complex maze. With your business up and running, you’re no stranger to the basics of PPC campaigns. However, unlocking the secret to maximizing your ROI is a whole different challenge. The eCommerce arena is incredibly competitive, where every click and every pound spent on ads must work…
- Thailand News
Songkhla community faces steep rent hike from temple land
Residents of the community surrounding Wat Khuan Mit in Songkhla raised concerns as the temple, which owns the land they reside on, dramatically increased the rent by twelvefold. The escalation in rental fees has led to severe hardship for the locals, many of whom have lived there since their ancestors’ time. Negotiations with the temple’s caretakers have not yielded any…
- Business News
Gold prices could hit US$2,015 per ounce in near future, says GTA
The Gold Traders Association (GTA) projected a potential rise in gold prices, possibly hitting US$2,015 (71,535 baht) per ounce in the near future. However, this trend may be interspersed with periods of market volatility. Yesterday morning, spot gold saw an increase of 0.4% to US$1,997.39, spurred by a dip in the US dollar and a fall in the benchmark US…
- Business News
New ESG fund could boost Thai stocks by up to 70 billion baht
Analysts predict that a forthcoming environmental, social and governance (ESG) fund could draw investments of between 20 and 70 billion baht into 114 stocks listed on the Stock Exchange of Thailand’s (SET) ESG index this year. The long-term savings fund, which is set to be established later this year, will be focused on investing in domestic ESG stocks and bonds.…
- Thailand News
Pork prices sizzle in northern Thailand due to crackdown on illegal supply
Pork prices have seen a continuous increase for two consecutive weeks in Nakhon Ratchasima’s Terdthai market. This is primarily due to the government’s rigorous crackdown on illicit and frozen pork, resulting in a significant decrease in the volume of illegal pork in the market. As the new year approaches, prices are expected to surge further. On surveying the fresh pork…
- Business News
Sunny-side up: Thai exports set to crack 3.6% growth in 2023
Positive prospects are forecasted for Thai exports next year, with an anticipated growth rate of 3.6%. This rebound follows a projected 2% drop this year, according to a recent report by the University of the Thai Chamber of Commerce (UTCC). UTCC’s president, Thanavath Phonvichai, attributes this optimistic projection to several factors including lower interest rates and easing inflation globally, which…
- Business News
Israeli-Hamas conflict sparks fears of disruptions in global oil prices
Price fluctuations in global crude oil have surged by 4% following the Israeli-Hamas conflict. This escalation in oil prices has sparked fears, especially among oil companies, as Montri Rawanchaikul, the Chief Executive of PTT Exploration and Production Plc (PTTEP), voiced worries that the conflict may lead to disruptions in petroleum production in the Middle East. Auttapol Rerkpiboon, CEO of PTT…
- Economy News
Rice prices skyrocket in Thailand due to drought effects and export ban
A meeting is set to be convened today by Commerce Minister Jurin Laksanawisit evaluating the repercussions of the drought instigated by the El Niño weather occurrence, and potential courses of action in response to the surge in rice prices. Concurrently, the Commerce Ministry under the watchful eyes of Wattanasak Sur-iam, chief of the Internal Trade Department, is monitoring good prices,…
- Economy News
Thai economy booms as government’s fiscal income beats projections with 122bn baht surplus
The Thai economy demonstrates strong recovery and active imports as the Thai government’s net income during the first two-thirds of fiscal 2023 has surpassed projections by 122 billion baht, revealed Fiscal Policy Office Director-General, Pornchai Thiraveja, 42 years old. Between October 2022 and May 2023, the Thai government raked in a total of 1.64 trillion baht, which is an 8%…
- Business News
TBN shares surge 144% on MAI debut, SET issues cautionary note
The Market for Alternative Investment (MAI) saw the debut of TBN Corporation shares on Monday, leading the Stock Exchange of Thailand (SET) to issue a cautionary note to investors in light of high trading speculation. Yesterday morning, TBN shares experienced a trading turnover ratio of 85%, reaching 41.5 baht by midday. The 144% increase was up from the initial public…
- Thailand News
Shining Surge: Gold prices soar in Thailand, hitting 32,650 baht per baht
The Gold Traders Association reported an increase in gold prices in Thailand today, with gold bullion trading at 32,650 baht per baht, up 50 baht compared to the closing price of yesterday. Gold bars are being bought at 32,050 baht and sold at 32,150 baht. Recording a rise in gold prices today, the Gold Traders Association stated that gold ornaments…
- Lifestyle
Japanese government wants to offer additional 80,000 yen to new parents
Japan’s government is wanting to boost the amount given to new parents by 80,000 yen (US$585) to motivate citizens to have more babies. As the country’s birthrate has been declining for some time, the government has tried to find ways to boost family planning. According to the Japan Times, the Ministry of Health, Labour and Welfare currently offer a Childbirth…
- Property
Bangkok condo market making a comeback amidst the future of Asian megacities
A major property developer says Bangkok condos are making a comeback after 2 years of limited launches due to the Covid-19 pandemic. Supalai says December is the magic month for a comeback and has announced it is launching up to 4 new condo projects in Bangkok, worth an estimated 5.74 billion baht. Supalai Managing Director Tritecha Tangmatitham told the Bangkok…
- Transport News
Thailand’s used car market expected to keep growing thanks to Covid-19 pandemic
Thailand’s used car market is expected to keep growing thanks to the Covid-19 pandemic. This year alone, it has grown by 20 to 30%, which is an increase from the pre-Covid years that saw an average growth of 10%. Pinyo Tanawatcharaporn, president of the Association of Used Cars, says normally the used car market sees about 1 to 2 million…
- Entertainment
Thailand’s creative industry to grow by over 3% next year
Thailand’s Creative Economy Agency says the creative industry is expected to grow by 1.51 trillion baht in 2022, which is about 3.55%. The CEA says the growth demonstrates Thailand’s soft power and international cultural influence. But, some experts say more can be done to increase its growth, as Thailand has long been know for its exceptional tourism, cuisine, traditional medicine,…
- Economy News
Thailand increases durian exports to China by 14% this year
Thailand has exported 14% more durian to China in this year’s first quarter over the same period last year. The Trade Negotiations Department Director General says Thai durian auctions in the first quarter secured 186 million, making up 88% of the total amount of Thai durian exports to world markets. Last year, Thailand exported US1.5 billion worth of durian to…
- Politics News
Thanathorn demands answers over budget increase for Royal office
Progessive movement leader and former head of the now-defunct Future Forward Party Thanathorn Juangroongruangkit has been banned from politics for 10 years… but he’s still making his voice heard in the halls of power. In his capacity as an advisor to the House committee examining the budget bill, he questioned the justification for the increase in the budget for the…
- Politics News
Activists plan more protests nationwide in September
Student activist groups across the country are threatening to step up anti-government protests in September if their demands are not met. The secretary-general of the Free Youth Movement said today that the planned protests include a march through the streets of Bangkok and prolonged nationwide protests. Tatthep Ruangprapaikitseri cited Sunday’s protest at the Democracy Monument as a “big show of…
- Tourism News
Tourism authority predicts September revenue jump
The Tourism Authority of Thailand is expecting tourism revenue in September to grow by 20% compared to the same month last year, after the government approved September 4 and 7 as compensation holidays for this year’s Songkran Festival, which was “postponed” due to the Covid-19 crisis. We’re assuming they mean domestic tourism because there sure aren’t many foreign tourists! The…
- Tourism News
Thailand’s changing tourist demographic – the Indians
Take a walk around the markets of Pratunam in downtown Bangkok and you’ll soon discover there’s a new type of tourist in town. For years, Thailand’s tourism scene was dominated by Chinese visitors, with 10.5 million in 2018 alone, accounting for about 28% of total foreign arrivals. It still is. But after the tour boat Phoenix, carrying mostly Chinese tourists, sank off…
- Transport News
Survey says: Thai taxi users disagree with fare hike
“35% agree with the fare hike, reasoning that it could reduce the problem of taxi drivers refusing customers.” A Nida Poll reports that 81% of respondents are unhappy with the new taxi fares that will raise the immobile rate (sitting in the traffic) from 2 baht per minute to 3 baht per minute. The poll reveals the results of a…
