Business

Concerns raised over possible lockdown after Thailand detects first Omicron case

After the recent relaxation of COVID-19 related restrictions, sales have gradually improved in restaurants and other businesses, but they are warning that reintroducing harsh measures or lockdowns could severely affect…

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Asia markets down on Omicron, US jobs data worries

HONG KONG (AFP): Asian markets broadly fell in morning trading Monday, tracking uncertainty over the Omicron variant of Covid-19 as well as disappointing US jobs data and the future of…

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The photo shows physical imitations of cryptocurrency in Dortmund, western Germany, on January 27, 2020. (Photo by INA FASSBENDER / AFP)

Sword of regulatory curbs hangs over cryptocurrency investors

Cryptocurrency holders are staring at an uncertain future, as the authorities are at a crossroads on how to regulate the use of digital assets amid their increasing popularity.  Investors who…

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Thai civil society urges government to end plans to join CPTPP

Thailand’s anti-CPTPP civil society organizations, claiming to represent 400,000 citizens, issued an open letter today (Thursday), addressed to Prime Minister Prayut Chan-o-cha, urging the government immediately to cease plans to…

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Central Retail Corp invests ฿4.5 bn in Grab Thailand shares

Central Retail Corporation, Thailand’s leading retail conglomerate, has announced the conclusion of a partnership deal with the Thai unit of Singapore-headquartered ride-hailing application Grab, Grab Taxi Holding (Thailand) Company Limited….

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Thai Central Bank warns against use of cryptocurrencies in transactions

Volatility and security risks mean that Thailand’s Central Bank remains unconvinced about the use of digital assets to purchase goods and services, as many shops have started allowing payment using…

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What Thailand can learn about telecom mergers from developed countries

A hot debate has been raging in Thailand since the recent announcement of the plan to merge True Corporation, a subsidiary of conglomerate Charoen Pokphand Group, and Total Access Communication…

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Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, U.S., March 25, 2021. U.S. House of Representatives Energy and Commerce Committee/Handout via Reuters

Twitter CEO Jack Dorsey hands reins to technology chief Agrawal

(Reuters) – Twitter Inc Chief Executive Officer Jack Dorsey is stepping down from his role and Chief Technology Officer Parag Agrawal will now lead the company, the social networking site announced on Monday. The appointment of Agrawal, a 10-year veteran of Twitter, signaled a…

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Downtown Bangkok. (Photo by Mladen ANTONOV / AFP)

Thailand’s night-time curfew to end from Dec 1 as government lays out reopening plans

Thailand’s Centre for COVID-19 Situation Administration (CCSA) decided today (Friday) to extend the country’s State of Emergency until January 31st and to remove the COVID-19 “dark red” zone status, spokesman…

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Will consumers pay the price for True-Dtac mega-merger?

The proposed merger of telecom giants True Corporation Plc and Total Access Telecommunication Plc (Dtac) has drawn great public interest and sparked a debate on its impact on consumer welfare….

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No impact yet on Thailand’s True, Dtac customers, says telecom regulator

Deputy Secretary-General of Thailand’s National Broadcasting and Telecommunications Commission (NBTC), Suthisak Tantayothin confirmed that, for the time being, customers of mobile phone services provided by True and Dtac will not be…

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People wait in line to shop on Black Friday in Rehoboth Beach, Delaware, U.S., November 27, 2020. REUTERS/Joshua Roberts/File Photo

‘Black Friday’ drags through November amid tight U.S. inventories

CHICAGO, Nov 23 (Reuters) – Facing scarce year-end inventories and a shortage of workers, retailers are turning “Black Friday” into a month-long event. Walmart, the world’s largest retailer, said on…

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Thailand Consumer Council to petition against True-Dtac merger plan

The Thailand Consumer Council (TCC) is planning to submit a petition to the country’s telecom regulator against the planned merger between True and Dtac, two of the three major mobile…

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Thai telecom regulator worried about True-Dtac tie-up but cannot prevent it

Thailand’s telecom regulator, the National Broadcasting and Telecommunications Commission (NBTC), has voiced concern that the merger of two telecom companies, True and Dtac, may lead to price collusion over service…

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Joint venture between telecom giants True, Dtac announced

Thailand’s Charoen Pokphand (CP) Group and Norway’s Telenor Group jointly announced an “equal partnership” for the US$ 200-million joint venture, with a focus on tech start-up investment today (Monday). The…

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Thai telecom regulator invites DTAC and True for meetings about potential merger

Representatives of True Corporation and the Total Access Communication Company have been separately invited by the Office of the National Broadcasting and Telecommunications Commission (NBTC), Thailand’s telecom regulator, to clarify…

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As Thailand reopens, signs of economic recovery are visible

The tourism industry is showing initial signs of recovery, but Thailand’s small businesses and households are still struggling to survive as uncertainty about COVID-19 gnaws at the local and global…

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Thai private sector to propose economy-boosting measures to PM on Sunday

Sanan Angubolkul, president of the Thai Chamber of Commerce, told an economic forum today (Saturday) that five regional chambers of commerce have been developing measures, to be complied into a…

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True, Dtac in talks over merger in Thailand

Norway-based Telenor and Thailand’s Charoen Pokphand Group (CP) are exploring a merger of their telecom units in Thailand, which could result in a new market leader in the country, overtaking…

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Masked actors pose during an event organized by the Enigma Room escape game in Milan on November 14, 2021, where participants play some of the games of the world-famous South Korean TV survival drama television series “Squid Game”. (Photo by Piero CRUCIATTI / AFP)

Lessons for Thailand from South Korea’s soft power

For many years, South Korea has been projecting its soft power on the global stage, mainly through successful export of its teledramas, the increasingly popular K-pop music, Korean movies, and…

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Thailand’s private sector ready to be host of ABAC 2022

Thailand’s private sector is preparing to host the APEC Business Advisory Council in 2022 (ABAC 2022) under the concept of “Embrace, Engage and Enable” and using the traditional “Dok Loi”…

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Tesla CEO Elon Musk, pictured March 2019, asked his Twitter followers if he should sell 10 percent of his Tesla stock Frederic J. BROWN AFP/File

Elon Musk sells $6.9bn in Tesla shares after Twitter poll

New York (AFP) – Tesla CEO Elon Musk sold more than $6.9 billion worth of shares in the electric carmaker this week, according to regulatory filings released Friday. The 50-year-old South…

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In this file photo taken on March 14, 2019 Tesla CEO Elon Musk reacts during the unveiling of the new Tesla Model Y in Hawthorne, California.

After Twitter poll, CEO Musk sells off $5B in Tesla shares

DETROIT (AP) — After making a promise on Twitter, Tesla CEO Elon Musk has sold about 4.5 million shares of the electric car maker’s stock, raising over $5 billion. The…

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MOU signed to establish international medical cannabis research centre in Thailand

The Thai Ministry of Public Health signed a memorandum of understanding (MOU) today (Thursday) with the RxLeaf World Medica Company, to establish an international medical cannabis research centre, with the…

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Government urged to revive ‘Shop Dee Mee Kuen” stimulus in run up to New Year

The Thai Retailers Association has proposed that the government revive the “Shop Dee Mee Kuen” (shopping with refunds) scheme to encourage consumer spending during the last two months of the…

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Darryl Dyck / POOL / AFP

Thailand to join ASEAN-Canada FTA talks

The Thai cabinet today approved Thailand’s bid to join ASEAN-Canada FTA talks, in the hope of opening a trade gateway to North America. The cabinet agreed to let Thailand participate…

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Crypto market value tops $3 trillion for first time

The world cryptocurrency market is worth more than $3 trillion for the first time, according to calculations Monday, as mainstream investors increasingly jump on board. The value has reached $3.007 trillion (2.6 trillion euros), said CoinGecko, which tracks prices of more than 10,000…

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Thailand aspires to be hub for herbal products and cannabis-based medicines

Thailand aims to become an international hub for the production and export of herbal products and cannabis/hemp-based medicines, to boost revenues for farmers and the country, said Deputy Government Spokesperson…

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Bitkub takeover adds impetus to Thai digital asset market

The recent multibillion-baht acquisition of digital exchange Bitkub has stunned Thailand’s finance sector, especially the digital asset market. On November 2, Siam Commercial Bank announced its acquisition of a 51…

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Thailand approves 218 formulae for cannabis, hemp-based cosmetics

The Thai Food and Drug Administration (TFDA) has approved 218 formulae for cannabis and hemp derived cosmetics, paving the way for their domestic production. Acting Deputy Secretary-General of the TFDA…

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Slightly fewer dwellings listed on property market in Q2, 2021, with prices increased

A Thai Real Estate Information Centre’s (REIC) report shows an average of 114,668 second hand dwellings had been listed per month in the second quarter of 2021, along with some…

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Photo from thaiairways.com

Thai Airways hopes to return to operational profit in two years

Struggling national flag carrier Thai Airways International expects to make a profit in 2024 if the government’s policy of reopening Thailand to foreign arrivals proceeds smoothly, said Piyasvasti Amranand, chairman…

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Thailand is lifting quarantine restrictions and allowing fully vaccinated foreign visitors from 63 countries and territories to enter. (Photo of Praseban by Veena Thoopkrajae)

Thailand set to welcome visitors after almost two years

With an economy almost entirely dependent on the tourist industry, Thailand is today lifting quarantine restrictions and allowing fully vaccinated foreign visitors from 63 countries and territories to enter in…

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Fintech revolution poses challenges to Thai consumers

Banks and big corporations have seen disruption of their business models, but they have adjusted their operations quickly enough to cope with radical changes in financial services. While Thai consumers…

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EV push to accelerate Thailand’s efforts against climate change

Thailand is betting on a future driven by electric vehicles (EVs), while big businesses have laid out ambitious plans to become carbon neutral in the next couple of decades. The…

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Thai banks assure systems are in place to protect against cyber scams

Commercial banks in Thailand have put in place measures to protect their credit and debit card holders from cyber fraudsters who, between October 1st and 17th, stole about 130 million…

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Fireworks light the sky above Dubai during the opening ceremony of the Dubai Eye, known as Ain Dubai, the world’s largest and tallest observation wheel, located in the Emirati city, near the Dubai Marina, on October 21, 2021. (Photo by Giuseppe CACACE / AFP)

World’s largest ferris wheel opens in Dubai

The world’s largest and highest ferris wheel opened to the public in Dubai on Thursday (October 21) with a lavish drone and firework show. Located on the Bluewaters Island, the…

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Has the level of happiness in Thailand deteriorated?

The level of happiness in Thailand has reduced over the past few years, according to a number of indices and surveys. With the COVID-19 pandemic taking its toll on the…

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Chinese President Xi Jinping in Beijing on October 9, 2021. (Photo by Noel Celis / AFP)

Australia accuses China of undermining world trade

Australia delivered a withering denunciation of China’s trade policies Thursday, accusing Beijing of undermining the World Trade Organization and foot-dragging on promised economic reforms.  During a usually routine WTO review…

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Customers take a photo with staff members wearing “Squid Game” costumes at Strawberry Cafe in Jakarta, Indonesia, October 15, 2021. REUTERS/Ajeng Dinar Ulfiana

Megahit “Squid Game” puts focus squarely on Netflix’s overseas growth

Oct 19 (Reuters) – The success of the South Korean dystopian drama series “Squid Game” has led investors to bet on Netflix Inc’s plans to explore more international content to…

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Cyberfraud revives debate on ways to make online banking safer

Amid the increasing push towards a digital economy, cybersecurity is back in focus after thousands of people fell victim to cyberfraud. At least 40,000 people suffered losses estimated at over…

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An electronic display showing the China GDP indexes is seen on a street in Shanghai, China October 16, 2021. REUTERS/Aly Song

China’s economy stumbles on power crunch, property woes

BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks and major wobbles in the property market and raising pressure on policymakers…

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City of Pataya during the lockdown in September 2021. (Photo by Thai PBS)

Human resources and inequality, main issues needing serious attention

Thailand needs to develop its human resources, improve the quality of its education, and get serious about addressing the inequality gap, says economist, Dr. Somjai Phagaphasvivat. He said that dealing…

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Financial help rolled out for flood-affected customers of Thailand’s state-run banks

State-run banks have rolled out financial measures to help private individuals and businesses affected the current flooding, according to Pornchai Theeravet, director of the Finance Ministry’s Fiscal Policy Office. The…

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Photo by Ozan KOSE / AFP

Bitcoin tops $60,000, nears record high, on growing U.S. ETF hopes

LONDON/HONG KONG (Reuters) – Bitcoin hit $60,000 for the first time in six months on Friday, nearing its record high, as traders grew confident that U.S. regulators would approve the launch of an exchange-traded fund…

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Laem Chabang Port in Chonburi province. (Photo by EEC)

Tourism, investments expected to take off as Thailand reopens on Nov 1

Business leaders are expecting an influx of foreign tourists and investors when Thailand reopens its doors to the world on November 1. “Reopening Thailand will open up many opportunities,” said…

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Thai household economy improves but remains fragile for rest of the year

Thailand’s household economy has improved but will remain fragile for the rest of the year, due to a combination of flooding, rising energy prices and uncertainty over the COVID-19 pandemic,…

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AP Photo/Vincent Thian

IMF warns pandemic darkening prospects in developing countries

Washington (AFP) – The ongoing hit from the Covid-19 pandemic and the failure to distribute vaccines worldwide is worsening the economic divide and darkening prospects for developing nations, the IMF said Tuesday….

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Taxi drivers waiting for customers at Bangkok Railway Station, more commonly known as Hua Lamphong, in Bangkok. (Photo by Lillian SUWANRUMPHA / AFP)

Ride-hailing services enter uncharted territory after new regulations take effect

Legalized ride-hailing taxi services, which start next month, will offer more choices, but both consumer satisfaction and drivers’ welfare are dependent on many variable factors in the post-COVID-19 scenario. Technology…

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AP Photo/ Gemunu Amarasinghe, File

Thailand’s Multidimensional Poverty Index lowest in ASEAN

Thailand’s Multidimensional Poverty Index (MPI) is 0.002, the lowest among all the ASEAN countries, according to a new report released by the United Nations Development Programme (UNDP) and the Oxford…

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e-tax e-service
(Photo by Claudio Schwarz)

Almost 100 global platforms ready to pay e-tax

Amid a sharp decline in tax collections due to COVID-19, Thailand’s newly levied e-service tax has emerged as a welcome source of revenue for the exchequer. The 7 percent value-added…

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Thai cabinet approves six new special economic zones in EEC for future industries

The Thai cabinet has approved the establishment of six special economic promotion zones in the Eastern Economic Corridor (EEC) in eastern Thailand, with the aim of attracting investments of over…

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Zero net emissions by 2050: a huge challenge for airline industry

How can passengers take 10 billion flights a year without contributing to global warming? The question of “greening” the international aviation sector by 2050 constitutes a colossal task whose stakes — and…

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S&P Global retains Thailand’s credit rating at BBB+ with stable outlook

S&P Global Ratings (S&P) has retained Thailand’s sovereign credit rating for 2021 at BBB+, with a stable outlook, as it was last year, according to Government Spokesman Thanakorn Wangboonkongchana. Regarding…

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Pandora Papers expose world leaders’ offshore entities, Thai tycoon families among listed

More than a dozen heads of state and government, from Jordan to Azerbaijan, Kenya and the Czech Republic, have used offshore tax havens to hide assets worth hundreds of millions…

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A general view shows the Evergrande Center building in Shanghai on September 22, 2021. Hector RETAMAL / AFP

Thai government advised to prepare for financial fallout from China’s ‘Evergrande’ crisis

Thailand’s former finance minister and Kla Party Leader Korn Chatikavanij has strongly advised the Thai government to take precautionary steps to protect against any fallout from China’s Evergrande crisis. In…

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File photo. The “Phuket Sandbox” programme for visitors fully vaccinated against the Covid-19 coronavirus has remained closely-watched, economically and politically. Jack TAYLOR / AFP

Thailand’s new tourism promotional slogan for next year unveiled

The Thai government plans to promote tourism next year under the new slogan “Visit Thailand 2022, Now Even More Amazing Thailand Has It All”, together with investments as well as…

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Increase in public debt ceiling raises questions on government’s competence

Finance Minister Arkhom Termpittayapaisith recently announced that the government needed to increase the public debt ceiling to 70 percent of gross domestic product (GDP) from 60 percent. The remarks came…

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World Bank’s lowers Thailand’s GDP growth forecast for this year to 1%

World Bank has slashed Thailand’s gross domestic product (GDP) projection for 2021 to just 1%, from 2.2% originally forecast, due to the impacts of the COVID-19 pandemic, said Mr. Kiatipong…

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(Photo by the Airports of Thailand)

Government makes bold move to woo wealthy, highly skilled foreigners

Labor experts and investors are throwing their support behind the government’s move to lure one million wealthy expats and highly skilled professionals on long-stay visas, but netizens are worried about…

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Thai exporters advised to adjust to meet new challenges next year to stay competitive

Thai exporters cannot continue to rely on the benefits they have been enjoying so far this year, to which a two-digit export growth has been attributed, but will have to…

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Mladen ANTONOV / AFP

Reopening of Bangkok, 4 other provinces likely delayed to November 1

The reopening of Bangkok, Chiang Mai, Chonburi, Phetchaburi and Prachuap Khiri Khan, initially scheduled for October 1st in the second phase of opening to fully vaccinated and COVID-negative international arrivals…

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Photo by Jack TAYLOR / AFP

Thai cabinet approves 3rd phase of co-payment scheme, cuts number of subscribers

Thailand’s cabinet approved the rollout of the third phase of the 50:50 co-payment scheme and the “Ying Chai Ying Dai” (The More You Spend, the More You Get) program today…

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Restrictions on foreign residents’ land ownership in Thailand to remain

Long-staying foreigners can own at most 49% of a condominium building and cannot own land in Thailand, but can rent land on a long-term basis under a special law, such…

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SRT launches special train service to Buri Ram to celebrate meatball festival

The State Railway of Thailand launched special train services yesterday for anyone, especially fans of K-pop idol Lalisa “Lisa” Manoban, wanting to celebrate the meatball festival in the north-eastern province…

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Registration for 3rd “Rao Tiew Duay Kan” tourism program starts Sep 24

Thailand’s Ministry of Tourism and Sports is set to launch the third phase of the “Rao Tiew Duay Kan” (We Travel Together) tourism promotion program on September 24th, by enabling…

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Workers make Chinese flags at a factory in Jiaxing, Zhejiang province, China September 25, 2019. REUTERS/Stringer/File Photo

China applies to join Pacific trade pact to boost economic clout

BEIJING, Sept 16 (Reuters) – China has filed an application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the commerce ministry said, as the world’s second-biggest economy…

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Mladen ANTONOV / AFP

Bangkok postpones reopening to visitors from abroad to October 15

Bangkok will postpone its reopening to fully vaccinated and COVID-negative visitors from abroad, scheduled for October 1st, to October 15th, as the authorities want at least 70% of the city’s…

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Vegetables grown on abandoned taxis help drivers survive

Staple vegetables, such as chili, eggplant and cucumber, are now being grown on the roofs, in the tires and in the trunks of abandoned taxis and you probably don’t need…

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Several incentives approved to attract long-staying foreign investors, wealthy foreigners

Today (Tuesday) Thailand’s cabinet approved, in principle, a measure to attract “high potential” foreigners, including wealthy retirees and specialists, to stay long term in the country in a bid to…

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Photo by Jack TAYLOR / AFP

Five Thai provinces are set to reopen to foreign tourists on October 1

Bangkok, Chon Buri, Phetchaburi, Prachuap Khiri Khan and Chiang Mai are set to reopen to foreign arrivals on October 1st, following the successful implementation of the first phase of the…

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Thais flock to Hua Hin as lockdown eased, reopening to foreign tourists cautioned

More Thai people have been travelling to the coastal town of Hua Hin, in Prachuap Khiri Khan province, since the partial easing of COVID-19 restrictions. The proposed reopening to foreign…

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Government employees wait for the opening of the Chivo digital wallet machine, which will exchange cash for Bitcoin cryptocurrency, at Las Americas Square in San Salvador, El Salvador, Tuesday, Sept. 7, 2021. Starting Tuesday, all businesses will have to accept payments in Bitcoin, except those lacking the technology to do so, according to a law approved by the congress. (AP Photo/Salvador Melendez)

Early stumble as El Salvador starts Bitcoin as currency

SAN SALVADOR (AP) — El Salvador became the first country to adopt Bitcoin as legal tender Tuesday, but the rollout stumbled in its first hours and President Nayib Bukele said…

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Photo by Ozan KOSE / AFP

In world first, bitcoin becomes legal tender in El Salvador

San Salvador (AFP) – El Salvador on Tuesday becomes the first country in the world to accept bitcoin as legal tender, despite widespread domestic skepticism and international warnings of risks for consumers….

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Chinese Vice Premier Liu He attends the closing session of the Chinese People’s Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing, China May 27, 2020. REUTERS/Thomas Peter/Pool/Files

China’s Liu He assures business of support, amid regulatory crackdown

BEIJING (Reuters) – China’s Vice Premier Liu He vowed the government would keep supporting the private sector amid growing concern a regulatory crackdown on a wide range of industries was hurting businesses. Liu said, “guidelines and policies for supporting the private economy have not changed… and will…

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Photo by Jack TAYLOR / AFP

Thailand’s Hua Hin seeks to reopen to foreign arrivals from October 1

Following in the footsteps of the Phuket “sandbox” scheme, Thailand’s resort town of Hua Hin is seeking to reopen to foreign arrivals on October 1st, with the expectation that as…

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1.6 billion baht generated in 2 months of ‘Phuket Sandbox’ as COVID spreads

1.6 billion baht has been generated from the “Phuket sandbox” scheme, which began on July 1st, amidst aworsening COVID-19 outbreak on the resort island, where over 200 cases per day…

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Economic recovery hinges on whether relaxation of lockdown is sustainable

The government has started to ease some lockdown restrictions from September 1. Department stores have been allowed to reopen most of their services after being closed for a month. Restaurants…

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FILE PHOTO: The logo of Google is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/File Photo

Thailand to start collecting tax from foreign tech firms

BANGKOK (Reuters) – Thailand will start collecting value added tax (VAT) from foreign technology companies and expects to raise at least 5 billion baht ($154.70 million) in additional revenue each…

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Photo by STEPHEN SHAVER / AFP

Thailand’s private sector tells government – ‘No more lockdown restrictions’

The joint committee of Thailand’s three private sector organizations has told the government not to re-impose lockdown restrictions, but to accelerate vaccinations to cover 70% of the country’s population before…

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Visitors wearing face masks look at souvenir shops in a neighborhood popular with tourists in central Beijing, Tuesday, Aug. 3, 2021. (AP Photo/Mark Schiefelbein)

Asian tourism sees ups, downs in 2nd year of pandemic

From the Great Wall to the picturesque Kashmir valley, Asia’s tourist destinations are looking to domestic visitors to get them through the COVID-19 pandemic’s second year. With international travel heavily…

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Photo by Mladen ANTONOV / AFP

CCSA to consider limited easing of restaurant dine-in restrictions

Thailand’s Ministry of Public Health will seek approval from the Centre for COVID-19 Situation Administration (CCSA), at its meeting this Friday, of guidelines for restaurants and other eateries in COVID-19…

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Photo by Ozan KOSE / AFP

Bitcoin jumps above $50,000 for first time since May

Hong Kong (AFP) – Bitcoin broke back above $50,000 on Monday for the first time in three months as investors piled back into the cryptocurrency on bargain-buying. The unit climbed around…

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(Photo by Yuri CORTEZ / AFP)

PayPal to let UK users buy, hold and sell cryptocurrency

PayPal on Monday said it will this week begin to allow users in Britain to buy, hold and sell cryptocurrency through the online payment platform for the first time. The…

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(Photo by Tim Mossholder)

Thailand’s economy staring at recession at year-end

The Thai economy rebounded in the second quarter, growing by 7.5 percent year on year, after a 12.1 percent contraction during April-June last year. The high economic growth in the second…

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(Photo by rupixen.com)

Thai consumer spending in foreign currencies increases 200%

Thai consumer spending in foreign currencies increased 200% during the second quarter year on year, according to a multi-currency wallet platform Youtrip. The data also shows most spending was on…

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Longan growers seek help from Thai government as prices hit rock-bottom

Thailand’s longan growers are asking for help from the government after China has temporarily suspended purchases of the sweet and succulent fruit since August 13th, claiming that Thai exports were…

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AP Photo/Gemunu Amarasinghe, File

Thai asphalt giant implicated in Venezuela sanctions case

CLEVELAND (AP) — A major Thai asphalt company has been implicated for money laundering in a criminal complaint against a Miami businessman accused of violating U.S. sanctions for doing maintenance…

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(Photo by SAEED KHAN / AFP)

Class action suit filed by massage parlours, spas seeking compensation for lockdown losses

A group of 172 massage parlour and spa operators filed a class action lawsuit with the Civil Court today (Tuesday) against the Finance Ministry and the government, demanding compensation for…

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Cutback in deposit insurance a challenge for banks and account holders

Many depositors may have to think hard about the safety of their cash deposits in commercial banks after deposit insurance was slashed to a maximum of Bt1 million from Bt5…

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AP Photo/Charles Krupa, File

Pfizer, Moderna seen reaping billions from COVID-19 vaccine booster market

NEW YORK (Reuters) – Drug makers Pfizer Inc, BioNTech and Moderna Inc are expected to reap billions of dollars from COVID–19 booster shots in a market that could rival the $6 billion in annual sales for flu vaccines for years to come, analysts…

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Photo by Lillian SUWANRUMPHA / AFP

Domestic tourism urged to be promoted as backup plan to overseas arrivals

The Thai Hotels Association is urging the government to come up with measures to promote domestic tourism, because it is unsure that the plan, earlier announced by Prime Minister Prayut…

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Weaker baht may not help economy if COVID not contained

The baht has seen a steady slide for weeks amid a surge in COVID-19 infections and deaths recently. The baht fell to 33.39 to the US dollar at one point…

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More financial support approved in Thailand’s “Dark Red” provinces

The Thai cabinet, on Tuesday, approved a 33.47 billion baht budget to help about 6.69 million unemployed and freelance workers affected by the government’s partial lockdown restrictions, imposed in the…

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Thai research body predicts a million jobless by year end if pandemic persists

Thailand’s economic think-tank, the Thailand Development Research Institute (TDRI), predicts that the number of unemployed in the kingdom will reach one million by the end of this year, if the…

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Thailand’s ‘modern trade’ confidence at lowest point in 3 years due to pandemic

Thailand’s “modern trade” confidence index in the second quarter of this year hit the lowest point in the past three years, at 45.3, as retail businesses are being hit hard…

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More financial help approved for businesses, employees in “Dark Red” provinces

The Thai cabinet, today (Tuesday) approved the allocation of another 30 billion baht to help businesses and employees in the 16 provinces recently added to the COVID-19 “Dark Red” category…

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A textile factory in Pathum Thani. (Photo by Lillian SUWANRUMPHA / AFP)

Thailand’s manufacturing at risk as workers get infected with COVID

The COVID-19 crisis has continued to aggravate in Thailand with new cases rising at an alarming rate, exceeding over 15,000 a day in the last few days. The impact on businesses and people…

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International Monetary Fund headquarters(IMF) building in Washington, DC. (Photo by MANDEL NGAN / AFP)

IMF officially approves increased lending capacity

The board of governors of the International Monetary Fund on Monday greenlit increasing the institution’s lending capacity by $650 billion, the last step in approving an initiative to boost aid…

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Bangkok’s Chinatown street food stalls, gold shops see worst trade in years

The Thai capital’s once bustling Chinatown is now uncharacteristically quiet, with many businesses suffering from the impacts of the raging COVID-19 pandemic. The 9pm to 4am curfew in Bangkok and…

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