Middle East
- Business News
Thai-ing the knot: Thailand pushes for free trade deal with gulf nations
Thailand is advancing negotiations on a free trade agreement with Gulf countries to boost trade, tourism, and investment. Nalinee Taveesin, the chair of Thai Trade Representatives, described the Gulf countries as Thailand’s most significant market in the Middle East, with trade between the two regions reaching approximately US$36 billion last year. Non-oil and natural gas trade saw nearly a 10%…
- Business News
Middle East tensions threaten Thai economy with rising oil prices
Geopolitical tensions in the Middle East are having a significant impact on the Thai private sector, as the prolonged conflict between Israel and Hamas extends beyond a year. The ongoing Israeli offensive has led to rising oil prices and shipping blockages, which threaten to affect the Thai economy by increasing inflation and prompting higher interest rates in countries like the…
- Thailand News
Thailand assures 60-day oil reserve amid Middle East conflict
The Ministry of Energy assured the public that Thailand’s oil reserves are sufficient to last over 60 days amidst the escalating conflict in the Middle East. Measures are being taken to ensure stable oil prices despite the volatile situation. Weerapat Kiatfuengfu, Deputy Permanent Secretary and spokesperson for the Ministry of Energy, stated that the ministry and relevant agencies are closely…
- Business News
Middle East tensions may impact OFFO’s debt repayment strategy
Rising tensions in the Middle East, particularly between Israel and Iran are anticipated to push global crude oil prices higher, potentially impacting the Oil Fuel Fund Office’s (OFFO) debt repayment strategy, according to a spokesperson from the Energy Ministry. Uncertainty surrounds whether the United States will back potential Israeli strikes on Iran’s oil infrastructure, raising concerns about oil price volatility,…
- Tourism News
Phuket targets Middle Eastern market to counter seasonal tourism slump
Phuket’s tourism industry has set its sights on the affluent Middle Eastern market to counterbalance the seasonal slump in arrivals from Russia and Europe. Over 30 Phuket hospitality businesses presented their offerings at the Arabian Travel Market 2024 (ATM 2024) held in Dubai, aiming to attract high-spending tourists from the region. The ATM 2024, conducted from May 6 to May…
- Thailand News
Thailand’s spectacular showcase at Arabian Travel Market 2024
The Tourism Authority of Thailand (TAT) unleashes its latest concept Amazing Thailand: Your Stories Never End at the Arabian Travel Market (ATM) 2024, captivating audiences with tales of wonder and adventure. TAT Governor Thapanee Kiatphaibool declared that the event marks Thailand’s 24th year at the ATM, showcasing TAT’s commitment to endless innovation in tourism. “Collaborating with the Phuket Tourist Association, we’ve…
- Business News
BGRIM to invest US$3.39m in Middle East’s energy market
A dominant player in the power industry, BGRIM disclosed its plans to infiltrate the Middle Eastern clean energy market, with an investment approaching US$3.39 million for a 40% stake in the independent power producer, ThreeEightSix Holdings Ltd. The company’s president, Harald Link, confirmed this strategic investment that focuses on commercial and industrial solar assets within the Gulf Cooperation Council region,…
- Thailand News
Thai-riffic partnership: Wego and TAT soar for fourth year running
Wego, the largest online travel marketplace in the Middle East and North Africa (MENA), unveils its continued collaboration with the Tourism Authority of Thailand (TAT) for the fourth consecutive year. Together, Wego and TAT are set to spotlight Thailand’s unmatched allure as a top-tier travel destination. Building upon the triumphs of their past ventures, Wego and the Tourism Authority of…
- Business News
Oil prices surge amid Middle East tensions and Russia-Ukraine war
Tensions in the Middle East and ongoing conflicts between Russia and Ukraine have elevated crude oil prices. Notwithstanding the fragile global economic climate, crude oil prices experienced a dip in the first quarter of the year, as the OPEC+ group of producers continued to restrict supply. Near the start of April 2024, the ICE Brent crude oil price has reached…
- Thailand News
Cash and carry con: Middle Eastern man caught stealing from Ang Thong store (video)
A grocery store security camera in the central province of Ang Thong captured footage of a Middle Eastern man swindling money and stealing products from the shop. Similar incidents of theft involving individuals of Middle Eastern descent have been reported by other businesses in the province. Anchisa Butsunthorn, an employee of the grocery store, told Channel 7 that the theft…
- Business News
Hong Kong bolsters business links with SE Asia and Middle East
Hong Kong is set to intensify its business ties with Southeast Asian and Middle Eastern nations, as part of its contribution to China’s Belt and Road Initiative. Nicholas Ho Lik-chi, the Commissioner for Belt and Road, has identified Malaysia, Thailand, Indonesia, Vietnam, the United Arab Emirates and Saudi Arabia as key cooperation partners for the year ahead. Ho Lik-chi oversees…
- Thailand News
Crisis at sea: Attacks threaten 1.31 trillion baht trade route
Thailand‘s 1.31 trillion baht worth of exports to Europe and the Middle East hangs in the balance as armed militants threaten a vital trade route. Expert warnings of a trade catastrophe are ringing alarm bells worldwide. Amid escalating conflicts in the Red Sea, Associate Professor Aat Pisanwanich, an international economics guru, has raised the red flag on the severe consequences…
- Business News
Gold prices shine on: Traders stay bullish amid recent slump
The trading community’s optimism for gold prices remains undeterred despite a recent slump, attributing potential strength to a possible end to US Federal Reserve interest rate increases and the escalating conflict in the Middle East. On Friday morning, spot gold prices oscillated between US$1,978 and US$1,978 per ounce, marking an increase of US$3.02 or 0.15%. Concurrently, domestic gold bars traded…
- Economy News
Economic resilience in question: Thailand’s situation amid Middle East conflicts
Sethaput Suthiwartnarueput, the governor of the Bank of Thailand, addressed a business seminar today, emphasising the need for Thailand to bolster its economic resilience to secure sustainable growth. He warned that economic stability should not be taken for granted, particularly considering the potential high-risk side effects that conflict in the Middle East could pose. Thailand, the second-largest economy in Southeast…
- Economy News
Thai economy caught in global crossfire as Israel-Hamas tensions fuel price hike fears
The Thai economy, already tested by geopolitical conflicts over the past few years, is facing potential consequences from the hostilities between Israel and Hamas in the Middle East, as governments and corporations all over the world look for excuses and justifications to hike prices to obscene heights. It’s a well-worn tactic last seen in the conflict between Russia and Ukraine…
- Business News
PTTEP plans Middle East expansion for greater petroleum output and renewable energy
PTT Exploration and Production Public Company Limited (PTTEP) announced its strategic plans to centre business operations in the Middle East to expand petroleum output and explore opportunities for innovative energy enterprises, revealed Montri Rawanchaikul, PTTEP’s Chief Executive and President. On the domestic front, the company aims to escalate gas production at the Erawan gas field to 800 million standard cubic feet…
- Politics News
Last Pakistani in Guantanamo Bay goes home
Saifullah Paracha has been in Guantanamo Bay detention centre since he was taken into custody in Bangkok in 2003. The 74 year old was never charged with anything, nor was he accused of any crime, merely “having links” with the al-Qaeda leadership. The oldest inmate at Guantanamo Bay detention facility in Cuba and an innocent man by every legal definition, Paracha…
- World News
ISIS member involved in plot that killed Americans gets sentenced for life
Justice was served yesterday for one of the bloodthirsty savages of ISIS. The ISIS member, 34 year old former British national El Shafee Elsheikh, had been part of a plot to take hostages, which led to the killings of four Americans in Syria. Those slain included journalist James Foley and aid worker Kayla Mueller. ISIS members notoriously beheaded Foley in…
- Crime News
“Mega rich” Bangkok father and daughter arrested in Bahrain trafficking case
Two members of a wealthy Bangkok family were arrested on warrants for human trafficking earlier this week. The father and daughter, 54 year old Wiraya and 37 year old Wachi, allegedly started recruiting women to work in Bahrain in 2015, saying they would give traditional Thai massages. Instead, the women were forced into sex slavery. Some of the women escaped,…
- Tourism News
Thai officials visit Saudi Arabia for roadshow, push for more tourists
As part of a push to draw more Middle Eastern tourists to Thailand, tourism officials visited Saudi Arabia on May 15-16 in a roadshow. There, the Tourism Authority of Thailand signed a memorandum of cooperation with Almosafer, the biggest OTA in Saudi Arabia and Kuwait. The TAT also signed an MoC with Saudia, Saudi Arabia’s flag carrier, to promote a…
- World News
Iran frees captives held for 5, 6 years
Today, Iranian authorities freed two British-Iranian nationals imprisoned in the country for five and six years. One captive, Nazanin Zaghari-Ratcliffe, was arrested in 2016. The other captive, Anoosheh Ashoori, was arrested in 2017. Nazanin was a project manager for Thompson Reuters Foundation when she was arrested, and Anoosheh was a businessman. Iranian authorities accused Nazanin of trying to “overthrow” the…
- Thailand Travel
Tourism officials plan Saudi visit to attract Middle Easter travellers to Thailand
In the wake of both the Chinese and Russian tourist taps being turned off, Thai tourism officials are planning to travel to Saudi Arabia with a goal of attracting 200,000-500,000 Middle Eastern tourists to Thailand this year. The Thai tourism ministry and Tourism Authority frequently run travel roadshows around the world as part of an ongoing marketing program to push…
- Thailand News
Tourism authorities greet first Saudi direct arrivals, plan new schemes
The Tourism Authority of Thailand greeted Saudi tourist arrivals with traditional Thai performances and a water salute on Monday. The flight was the first direct flight to Thailand from Saudi Arabia in 32 years landed in Bangkok, at Suvarnabhumi Airport. This flight symbolised the recent reconciliation between Thailand and Saudi Arabia after decades of frosty relations following the Blue Diamond…
- Tourism News
Emirates A380 to return to Bangkok Suvarnabhumi to meet increased demand
The A380 is to return to the skies over Bangkok as Emirates upgrades capacity on flights to the capital to meet increased demand. TTR Weekly reports that Thailand’s recent re-opening to vaccinated tourists from approved countries has led to strong demand, with around 10,000 arrivals registered at Suvarnabhumi every day. In order to add capacity and frequency to its services,…
- Tourism News
KLM to increase flights to Middle-East, Asia as border restrictions ease
The Dutch carrier KLM plans to increase its flights to Asian and Middle-Eastern destinations as countries plan for a re-opening of their borders. According to TTR Weekly, the airline’s summer network is almost the same as in 2019, but with a reduction in the number of flights on offer as a result of the pandemic. The airline plans to introduce…
- Tourism News
Thai health officials propose flights from the Middle East for medical tourists
Public health officials are discussing scheduling flights from the Middle East for medical tourists seeking treatment in Thailand. Deputy Public Health Minister Sathit Pitutecha says the move to bring foreign patients, who are free of Covid-19, to the country’s hospitals could “potentially boost Thailand’s economic growth during the Covid-19 pandemic.” There are about 10,000 people around the world who seek medical…
- Covid-19 News
17 new Covid-19 cases in Thailand, all repatriated citizens from the Middle East
Today the Centre of Covid-19 Administration reported 17 new cases of Covid-19 infection. All the cases were repatriated Thai personnel returning from the Middle East. Spokesperson Dr Taweesilp reported that most the returnees were asymptomatic and were confirmed as infected after a second test. “13 of the new cases had returned from Kuwait, 12 were men aged 31-56, and the other…
- Covid-19 News
Thailand Covid-19 figures (May 29)
The spokesman for the Centre for Covid-19 Situation Administration, Dr Taweesilp has reported 11 new cases of Covid-19 virus in Thailand, same as yesterday. Of the number, all were reported as imported cases coming from Kuwait. All Thai nationals returning from overseas are placed into a mandatory 14 day state quarantine with no exposure to the general public. For the…
