Business News
Stay abreast of the ever-changing Business News in Thailand through our comprehensive coverage of local and international business events, market trends, and economic updates. We provide reliable analysis, in-depth features, and expert insights on the most relevant business stories, including issues affecting Thailand’s stock market, foreign investment, and entrepreneurship. Track the business world’s pulse as we inform you of crucial developments shaping Thailand’s economic landscape.
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Sponsored Where is the best place in Thailand for digital nomads?
Thailand is a popular place for digital nomads because it is affordable, culturally rich, and convenient for remote work. With friendly locals, great weather, and delicious food, it offers a high quality of life. Cities like Bangkok, Chiang Mai, and...
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Tiktok to invest 300bn baht in Thai tech hub development
TikTok plans to invest approximately 300 billion baht in Thailand over the next five years to transform the country into an ASEAN technology hub. The decision emerged from discussions yesterday, February 28, between Helena Lersch, TikTok’s vice-president of public policy, and Prime Minister Paetongtarn Shinawatra in Bangkok, as reported by Government Spokesperson Jirayu Houngsub. Lersch expressed appreciation for the Thai…
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Cable crackdown: Thailand bridges gap on cybercrime
In a campaign to cut off cybercriminals at their source, Thailand’s top telecom regulator is joining forces with the Department of Highways to tackle illegal cross-border cable networks lurking near national bridges. In a bid to sever the sinister circuits exploited by cybercriminals, the National Broadcasting and Telecommunications Commission (NBTC) is tying knots with the Department of Highways to clamp…
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Thai Airways reports huge loss but promises strong comeback
Thai Airways International has assured stakeholders that its massive loss for fiscal year 2024 is due to a one-off debt-to-equity conversion and will not hinder its operational performance or planned exit from its rehabilitation programme. The airline reported a staggering loss of 26.901 billion baht, primarily caused by a one-time accounting loss of 45.271 billion baht from the debt-to-equity conversion completed…
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Thai car market hits speed bump, FTI urges govt to drive recovery
The Federation of Thai Industries (FTI) is urging a turbocharged response from the government to rev up the nation’s sputtering car market. Demand for motors has hit a roadblock, with a particular skid in pickup truck sales. According to January’s numbers, it’s been a bumpy ride, causing manufacturers to slam the brakes on production by more than 200,000 units over…
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Rice and fall: Thailand faces grain pains as India lifts export limits
Thailand’s rice market, once riding high, now faces a shaky season as Indian export restrictions relax, threatening to steal the spotlight and curb the kingdom’s grain gains. After a bumper year, it seems that the golden grains might lose their sparkle, casting a shadow on Thailand’s export figures. Despite a slight boost in Thai rice production, set to rise by…
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Cheers: Thailand’s booze rules shake-up promises economic tonic
In a move that could pop the cork on a 100-billion-baht economic boom, Thailand is considering scrapping its afternoon booze sales ban: a measure that could turn holidaymakers’ frowns upside down and get tills ringing right across the Land of Smiles. Industry leaders are raising a glass to the potential windfall, with the promise that lifting these restrictions could lure…
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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%…
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NCSA watchdog warns delivery firms after major data breach
Thailand’s National Cyber Security Agency (NCSA) sounded the alarm for logistics firms, urging them to step up customer data protection after a cyberattack exposed a major security flaw in one operator’s system. The warning comes as the Personal Data Protection Commission launches an investigation into the breach. Air Vice Marshal Amorn Chomchoey, Secretary General of the NCSA, stressed that delivery…
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Going green: Thailand’s solvent solution sparks eco-revolution
As zero-emission vehicles race to the forefront of Thailand’s climate action, it’s not just the cars that are grabbing the green spotlight in the eco-revolution. Behind the scenes, a silent revolution in solvent recycling is powering the country’s eco-commitments while ensuring a cleaner, more sustainable future. In the bustling auto industry of Thailand, an unsung hero is emerging in the…
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EC Markets renews strategic partnership with world’s leading snooker player Judd Trump
EC Markets, a globally renowned multi-regulated CFD trading firm, is proud to announce the renewal of its exclusive FX partnership with Judd Trump, the preeminent figure in the world of snooker. This strategic collaboration underscores EC Markets’ steadfast commitment to excellence, innovation, and global expansion, aligning its brand with one of the most celebrated and influential athletes in contemporary sports.…
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Trump’s ‘Gold Card’ visa: A potential game-changer?
United States President Donald Trump has always sparked debate, and his recent proposal of a “gold card” visa is no different. This plan aims to create a new pathway to U.S. citizenship. The heart of the proposal is a $5 million investment in exchange for a visa, which could potentially change the landscape of U.S. immigration. The gold card visa…
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Challenges and innovations in Thailand’s education sector
Imagine sitting in a classroom where you’re expected to memorise entire textbooks, word for word. No critical thinking, no creativity—just pure repetition. Even if it sounds boring and frustrating! But you will be shocked when I tell you that that’s been the reality for many Thai students for years. But here’s the twist: education in Thailand is undergoing a major…
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Volt-face: Volvo shifts gears with new EV offerings in Thailand
Volvo Car Thailand is gearing up for modest growth in car sales, capped at 5% this year, by revving up its appeal with fresh electric vehicle models and an innovative battery repair service. This bold strategy aims to keep long-term maintenance costs low for drivers and attract more eco-conscious consumers. Chris Wailes, managing director of Volvo Car Thailand and Malaysia,…
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AirAsia soars to new heights with record passenger growth in 2024
AirAsia is flying high after recording a surge in passenger numbers throughout 2024, as the budget airline group expanded its fleet to meet booming travel demand. The carrier welcomed over 63 million passengers last year, an 11% increase from 2023, while its load factor climbed to 89%. The final quarter of 2024 was particularly strong, with 16.2 million passengers flying…
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Baht to the future: Thailand exports ready for Trump change
The Export-Import Bank of Thailand is bullish about the country’s export growth this year, buoyed by ripple effects from US President Donald Trump’s trade policies. According to Exim Bank President Rak Vorrakitpokatorn, several global regions, including the EU, South Asia, and Southeast Asia, are ramping up imports in anticipation of Trump’s next moves, especially with uncertainty looming over US imports…
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Nok Air turbulence: Pilot lawsuit leaves airline flying on fumes
Nok Air has come out swinging against allegations that it forced junior pilots to pay for their training as a prerequisite for employment, denying any involvement amidst a high-flying lawsuit. The airline finds itself in hot water after Teerawat Angkasakulkiat, President of the Thai Pilots Association, revealed that 13 pilots have taken legal action against the carrier. Back in 2018,…
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Banking on success: Line BK logs in for double-digit loan growth
In a bold move against economic headwinds, Line BK, the social banking brainchild of Kasikornbank (KBank) and Line Corp, is setting its sights on a double-digit loan growth surge this year, powered by cutting-edge technology. Eyeing a hefty 3-4 billion baht boost in new loans, Line BK is steering towards a 13-18% growth, up from last year’s 22 billion baht…
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Fuelling the future: PTT Oil shifts gears for a brighter 2025
PTT Oil and Retail Plc (OR) is revving up for a sunnier financial forecast this year, aiming to bounce back after last year’s revenue slip. The secret sauce? A Thailand infused with tourism and investment buzz, according to OR chief Peekthong Thongyai. Thanks to a tourism surge, Thailand’s economic prospects are looking rosier than ever. Back in 2019, the country…
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Full steam ahead: SRT fast-tracks freight boost to cut costs
In a bid to slash transport costs for import and export businesses, the State Railway of Thailand (SRT) is all set to turbocharge freight services between Laem Chabang Port in Chon Buri and Bangkok. SRT Governor Veeris Ammarapala and his team, yesterday, February 12, descended on the deep-sea port and the Inland Container Depot (ICD) in Bangkok’s Lat Krabang district,…
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Comeback call: Thailand’s smartphone market dials up growth
Thailand’s smartphone market powered back to life last year after two years in the doldrums, defying a sluggish economy. Global research giants IDC and Canalys both report an upward swing in sales: from IDC’s impressive 17.1% growth, with 16.9 million units shipped, to Canalys’s solid 7.1% increase, marking 16.4 million units sold. IDC predicts this growth spurt will carry on…
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AI and automation: How tech is reshaping the workforce
Technological advancements are revolutionising the workforce, altering job roles and increasing productivity across various sectors. Innovations like artificial intelligence and automation are redefining the future of employment. The Bureau of Labor Statistics has documented a significant shift in the workforce due to these emerging technologies. McKinsey’s detailed report highlights automation’s role in streamlining processes, boosting efficiency, and creating new job…
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Google eyes increased investment in Thai government projects
Google has shown interest in increasing its investment in Thai government-related projects, according to the Commerce Minister. During a visit to the United States last week, Minister Pichai Naripthaphan engaged in discussions with Google executives focusing on collaboration in the digital economy, cybersecurity enhancement, and advanced technology investments in Thailand. A major topic was public project investments, with Google particularly…
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Gold prices hit record high amid Trump’s tariff threats
Gold prices reached a new record after US President Donald Trump announced plans to impose tariffs on steel and aluminium imports, creating further uncertainty in global financial markets. The price of bullion surged beyond US$2,895 an ounce following a 2.2% increase last week, driven by heightened demand for safe-haven assets amid the president’s trade threats. Trump indicated on February 9…
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Last call for change: Businesses push to end 2-5pm booze ban
Hotels and businesses selling alcohol have urged the government to abolish the restriction on alcohol sales between 2pm and 5pm. They argue that this regulation is outdated and no longer relevant. This request coincides with the progression of a bill amending the alcohol beverages control law, which is poised to advance to its second and third readings in the House…
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WHAUP dives deep with ambitious plans to cash in on digital age
WHA Utilities and Power (WHAUP), the utility titan of WHA Corp, Thailand’s industrial land giant, is making waves with its bold ambition to rake in a staggering 35 billion baht by 2030. Their strategy? Riding the crest of the digital age by tapping into the surging demand for water in the burgeoning data centre sector. With data centres consuming colossal…
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Trump’s metal meltdown: Steel yourself for the latest tariff tiff
Donald Trump announced his intention to impose a steep 25% tariff on all steel and aluminium imports into the United States, a move that promises to heat up trade tensions and could potentially throw a spanner in the works for America’s key trading relationships. Chatting with reporters aboard Air Force One yesterday, February 9, the US president confirmed that these…
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Thailand leads ASEAN dairy market with 19 billion baht in revenue
Thailand has emerged as a leader in the ASEAN dairy market, generating over 19 billion baht in revenue, according to a government spokesperson. The country’s strategic use of Free Trade Agreements (FTAs) has bolstered exports of processed milk products across ASEAN. Anukool Pruksanusak, deputy spokesperson for the Prime Minister’s Office, reported that Thailand has maintained its top position in ASEAN…
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Stable vision: Binance pushes for baht-backed crypto in Phuket
The Government of Thailand is being urged by Binance’s Thai branch to explore the development of stablecoins tethered to the baht, intended for use within the country and particularly within the proposed Phuket crypto sandbox. Unlike volatile digital assets such as Bitcoin, stablecoins are linked to fiat currencies, offering a more stable alternative. Nirun Fuwattananukul, CEO of Gulf Binance, explained…
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Fuelling growth: Thailand’s energy use rises as tourism powers up
The Department of Energy Business revealed fuel consumption in Thailand saw a 2.1% rise last year, reaching a daily average of 155.4 million litres, in tandem with an estimated GDP growth of 2.6-2.7%, largely fuelled by bustling tourism-related industries. In 2023, total fuel consumption was slightly less, at 152.3 million litres per day. Jet fuel, driven by the surge in…
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Tariff-ied: Thai exporters brace for US trade heat
Thai exporters could soon find themselves in hot water, facing increased tariffs from the United States. The Government of Thailand might also be compelled to import more American goods to balance out its trade surplus, warns Burin Adulwattana, the Managing Director and Chief Economist at Kasikorn Research Centre (K-Research). Burin shared that K-Research hasn’t yet drilled down into the possible…
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