Business

(Photo by Handout / ROYAL THAI ARMY / AFP)

Hiring market optimistic after COVID-19 economic freeze in 2020

2020 has been an unprecedented year for every industry around the world, with over-stressed health systems and heighten economic stress, which makes the hiring market challenging, including in Thailand. The…

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(Photo by Kazuhiro NOGI / AFP)

Thai judiciary skids into more controversy 

The Thai justice system has been hit by a fresh scandal following allegations that bribes were paid to judges for a court ruling in favour of Toyota Motor Thailand Co…

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(Photo by PORNCHAI KITTIWONGSAKUL / AFP)

Tax hikes may be unavoidable in post-COVID economy  

COVID-19 has dealt a double blow to Thailand’s finances, reducing tax revenue while increasing the amount of money the government must spend to keep the economy afloat. The Cabinet recently…

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(Photo by Lillian SUWANRUMPHA / AFP)

First foreign tourists in over a year arrive in Phuket

A group of foreign tourists, mostly German, arrived on Thailand’s popular resort island of Phuket on Saturday. They are the first in more than a year. They are here under…

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A Bitcoin digital currency ATM shop in Marseille, southern France, on January 8, 2021. (Photo by NICOLAS TUCAT / AFP)

Cryptocurrency gains momentum in Thailand, across globe     

Proponents of cryptocurrency are celebrating after the Securities and Exchange Commission (SEC) reached a conclusion on how to regulate trading of the asset in Thailand. “Very glad to see this…

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Hopewell, the ‘ghost’ transport project still haunting Thailand 3 decades on

A landmark ruling last month by the Constitutional Court has handed the Thai government a lifeline in its three-decade-old battle over the multibillion-baht Hopewell saga. On March 17, the court overturned…

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Co-payment stimulus scheme has ended with ฿102bn spending in six months

Thailand’s Finance Ministry announced the end of the two phases of the populist co-payment scheme on March 31st, with total spending amounting to 102.065 billion baht, 52.2 billion by consumers…

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The photo, taken in January 2020, shows a physical imitation of a Bitcoin in Dortmund, western Germany. (Photo by INA FASSBENDER / AFP)

The rewards (and risks) of Thailand’s big bet on cryptocurrency

As more people and businesses invest in digital currencies, the Bank of Thailand (BOT) faces the delicate task of trying to balance financial stability and investor protection on the one…

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(Photo by Mike Swigunski)

Will the Phuket Tourism ‘Sandbox’ save Thailand’s holiday island?

Foreign tourists who carry a COVID-19 vaccine passport will be able to enjoy Phuket’s blue seas and white sands without having to undergo quarantine, provided the Thai government approves the…

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Phuket tour bus operators seek government help after a year of unemployment

Tour bus operators on Thailand’s resort island of Phuket are asking for help from the provincial administration after being sued for missing their lease repayments, with some facing bankruptcy, due…

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Third phase of consumer co-payment scheme expected in May

Thailand’s Finance Ministry is working on the third phase of the 50:50 co-payment scheme, which is expected to be launched in May, to boost domestic consumption. Kulaya Tantitemit, director of…

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Cabinet approves asset warehousing scheme to help debt-ridden businesses

The cabinet approved financial measures today (Tuesday), worth 350 billion baht, to help financially-troubled businesses overcome the impacts of the COVID-19 pandemic. The financial package includes 250 billion baht in…

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Mango growers complain of low prices and fewer export orders due to COVID-19

Mango orchard owners in Thailand’s northern province of Phitsanuloke are seeking help from the provincial administration to promote the sale of their sweet fruit, particularly Barracuda Mango variety. They complain…

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Debate on what defines market monopoly now left up to court

A merger that could essentially wipe out mom-and-pop stores in Thailand has sparked a public outcry leading to legal action. Consumer groups led by the Foundation for Consumers on March 15 filed…

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A trip down THAI’s turbulent journey from awards and admiration to knuckle-biting rehab

Once a prosperous airline and national pride, Thai Airways International (THAI) is now struggling to clear a mountain of debt during the global aviation industry’s darkest days. The national flag…

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A woman cycles past a closed seafood restaurant along Patong beach in Phuket, which has seen a lack of tourists due to ongoing restrictions relating to the COVID-19 novel coronavirus. (Photo by Lillian SUWANRUMPHA / AFP)

Simmering political conflict threatens to derail Thailand’s COVID recovery

Political stability has a key influence over a country’s economic performance both in the short and the long term. In Thailand, anti-establishment protests that kicked off last year are rocking…

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A nurse prepares a syringe with a dose of the Pfizer-BioNTech COVID-19 vaccine at a vaccination center in Tlaquepaque, Mexico, on March 8, 2021. (Photo by ULISES RUIZ / AFP)

Vaccines, US stimulus boost global GDP forecast: OECD

The OECD sharply raised its 2021 global growth forecast on Tuesday as the deployment of vaccines and a huge US stimulus programme have greatly improved economic prospects. The Paris-based Organisation…

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Thailand drops to 4th largest global rice exporter

According to the Thai Rice Exporters Association, the country exported 5.72 million tonnes of rice in 2020, which is a 24.5% decrease year on year. The export value was 115…

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Area quarantine to be discussed by tourism minister and operators in Phuket on Wednesday

Thailand’s Tourism and Sports Minister Phiphat Ratchakitprakarn is scheduled to meet with representatives of hotels and other tourism-related businesses on Thailand’s famous resort island of Phuket on Wednesday, to discuss…

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(Photo by ROSLAN RAHMAN / AFP)

Singapore Airlines to pilot digital Covid travel pass

Singapore Airlines will begin trialling a coronavirus digital travel pass developed by aviation’s industry body next week, the carrier said Monday, the first airline to pilot the scheme as the pandemic-hit…

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(Photo by Jack TAYLOR / AFP)

Thailand ranked 3rd in ASEAN on Economic Freedom Index

Thailand ranked 3rd in ASEAN, 9th among 40 Asia-pacific countries and 42nd in the World on the most recent on Economic Freedom index. Singapore tops the list for the second…

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A man wearing a face mask walks past a closed restaurant in Bangkok on February 15, 2021, as Thailand records it worst economic performance in more than two decades. (Photo by Jack TAYLOR / AFP)

Economy must come before politics in Thai Cabinet reshuffle, say experts

Business leaders and academics insist solving Thailand’s economic crisis must be the top priority in the upcoming Cabinet reshuffle. “The new ministers should also be highly competent and capable of…

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Thailand’s tourism operators lobby for borders to reopen on July 1

A group of leading tour operators and hoteliers in Thailand has launched a campaign to reopen the country on July 1, 2021. They say vaccines are a game changer that…

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THAI airways plans to cut staff by 50% or staff costs by 18 billion baht annually over next 2 years

After two postponements, Thai Airways International submitted its rehabilitation plan to the Legal Execution Department officials today (Tuesday), under which the debt-ridden national flag carrier plans to slash staff expenses…

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This undated handout photo released by Chao Phraya Abhaibhubejhr Hospital on January 14, 2021 shows a worker examining cannabis plants in a crop being grown in Prachinburi Province, to be used in dishes at the Abhaibhubejhr Spa Cuisine restaurant in Prachinburi, east of the Thai capital Bangkok. (Photo by Handout / Chao Phraya Abhaibhubejhr Hospital / AFP)

Multipurpose marijuana could light up another economic engine for Thailand 

Marijuana could generate up to Bt8 billion for Thailand’s pharmaceutical industry over the next five years, but farmers stand to make little from growing the herb, experts say. Last year,…

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This aerial photograph shows apartment buildings in the outskirts of Bangkok. (Photo by Mladen ANTONOV / AFP)

ASEAN property market takes a hit as people delay buying a home

Half of Thai consumers decide to put off buying and selling property for the time being. The governments of many ASEAN countries have taken measures to stimulate their economies over…

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THAI airways to sell assets to raise more funding

THAI airways is selling its Laksi training center building, in the Bangkhen district of Bangkok, its Nok-Air shares, its Bangkok Aviation Fuel Services (BAFS) shares and Boeing 737- 400 engines,…

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Thailand VAT social tech firm

Revenue treads carefully into VAT collection from tech giants

Legal challenges await the Revenue Department’s plan to collect value-added tax (VAT) from cross-border e-services for the first time in Thailand, given the threat of counter measures from the US…

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Thai government to buy dried cannabis flowers from community enterprises

The Government Pharmaceutical Organization (GPO) is to buy grade-A dried cannabis flowers from community enterprises at 45,000 THB per kilogram. The Plao-Ploen herbal development center in BuriRam province is the…

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vaccine passport
(FILES) In this file photo Registered Nurse Emily Enos loads the Moderna Covid-19 vaccine into a syringe ahead of the distribution of vaccines to seniors above the age of 65 who are experiencing homelessness at the Los Angeles Mission, in the Skid Row area of Downtown Los Angeles, California on February 10, 2021, as the fight against the coronavirus pandemic continues. (Photo by Frederic J. BROWN / AFP)

Vaccine passports inject new hope for Thai tourism

A “vaccine passport” has emerged as the best hope for Thai tourism businesses devastated by COVID-19. The passport, which could exempt inoculated tourists from the mandatory 14-day quarantine, might help…

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Thailand Tourism
This photograph taken on December 19, 2020 shows longtail boats moored at a beach on Koh Lipe island in the Andaman Sea. (Photo by Mladen ANTONOV / AFP)

Thailand’s GSB to extend low-interest loans to help tourism-related SMEs

The state-owned Government Savings Bank (GSB) has set aside a 10 billion baht fund for lending to small and medium-sized entrepreneurs engaged in tourism and tourism-related businesses, to help them…

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Thailand economy shrinks most since 1997 on tourism collapse

Thailand’s pandemic-shattered economy suffered its worst full-year performance in more than two decades, data showed Monday, with officials citing the toll of both a gutted tourism industry and ongoing political…

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Inside the electrifying rise of Bitcoin

The soaring price of Bitcoin is making headlines around the globe following news that electric-car maker Tesla, one of the world’s largest auto firms by market valuation, has invested $1.5…

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Are Thai govt savings bonds attractive?

Public Debt Management Office (PDMO) chief Patricia Mongkhonvanit on Wednesday encouraged people to purchase newly issued government savings bonds worth Bt8 billion. The Bt8 billion issuance is part of Bt55…

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Thailand’s latest COVID-relief scheme hit by controversy

A total of Bt210 billion is being pumped into Thailand’s latest COVID-19 relief effort, but experts say needy Thais could fall through cracks in the scheme. The Rao Chana (We…

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Image Credit: BTS Skytrain

PM admits government and BMA cannot delay electric train fares indefinitely

Prime Minister Prayuth Chan-o-cha admitted today (Wednesday) that neither the government nor the Bangkok Metropolitan Administration (BMA) can shoulder the financial burden of prolonging the freeze on fares on the…

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Over 5.7 million people pass screening to join Rao Chana giveaway scheme

More than 5.7 million people, out of about 10 million who registered to receive 7,000 baht each under the Rao Chana stimulus scheme, have passed the screening process and will…

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Chinese New Year’s day declared a special public holiday in Thailand

The government has declared Chinese New Year’s day, which falls on Friday February 12th, a special public holiday and Prime Minister Prayut Chan-o-cha is encouraging Thai people, not just those…

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In this image made from video provided by the Democratic Voice of Burma (DVB), a protester holds a sign that says ‘Free Aung San Suu Kyi’ with an image of the deposed Myanmar leader as they march in Yangon, Myanmar Sunday, Feb. 7, 2021. (DVB via AP)

Myanmar coup to take big toll on trade with Thailand, the world: Experts

Thai and other foreign companies are expected to delay their investments in Myanmar following a military coup that threatens Thai border trade and migrant labour. Myanmar’s military seized power on…

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(Photo by Lillian SUWANRUMPHA / AFP)

Private sector in Phuket wants quick, self-funded vaccinations so it can reopen

The private sector on Phuket has joined forces to push for a self-funded vaccination program, to inoculate up to 70% of its population, in the hope that the resort island…

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Thailand Tourism
This photograph taken on December 19, 2020 shows longtail boats moored at a beach on Koh Lipe island in the Andaman Sea. (Photo by Mladen ANTONOV / AFP)

Vaccinated foreigners may be allowed to enter Thailand without quarantine

The Ministry of Tourism and Sports is considering plans to attract foreign tourists back to Thailand, and may allow vaccinated foreigners to enter the country without the need for 14…

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Currency traders walk by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Friday, Jan. 29, 2021. (AP Photo/Lee Jin-man)

Equity markets drop as painful week ends on sour note

Asian and European markets suffered more losses Friday, capping a painful week for global equities that has been characterised by fears over surging infections and stuttering vaccine rollouts. Traders have…

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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Jan. 28, 2021. Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October. (AP Photo/Ahn Young-joon)

Asian markets a sea of red as virus woes add to correction fears

Asian markets suffered further losses Thursday, tracking a rout in New York and Europe as markets were hit by a perfect storm of worries about the slow rollout of vaccines,…

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Labour Minister, Suchart Chomklin

Thailand cuts worker Social Security contributions, extends visa renewal deadlines

Thailand’s cabinet decided today to cut the employee contribution to the Social Security Fund from 3% to 0.5% of their salaries for February and March, but to retain employer and…

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Tourism Council of Thailand says Q1 2021 tourism confidence index drops to 53

It is estimated that 6.69 million foreign travellers visited Thailand in 2020, an 83% decrease from 2019. The visitors generated revenue of around 300 billion baht, an 80% decrease from…

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Asia stock market
A man walks past a bank’s electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Tuesday, Jan. 26, 2021. Shares fell in Asia on Tuesday after a choppy session on Wall Street yielded mixed results as the market struggled to find direction. (AP Photo/Vincent Yu)

Asian markets stumble on stimulus timing and size

Asian markets sank into the red Tuesday following the previous day’s healthy run-up, with sentiment jolted by the prospect that Joe Biden’s huge stimulus could be watered down and not…

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COVID-19 restrictions on businesses in eight eastern provinces to be eased

Restrictions imposed in the eight eastern provinces of Thailand since mid-December, to prevent the spread of COVID-19, are expected to be eased as the situation there gradually improves. Deputy Public…

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People wearing face masks attend a meeting by Thai government officials discussing the economic impact of the COVID-19 coronavirus in the border area with Malaysia at Sungai Kolok town in Thailand’s southern province of Narathiwat on September 12, 2020 as the region’s livelihood relies on Malaysian tourists. (Photo by Madaree TOHLALA / AFP)

Covid-19, economic impact are top global threats: WEF

Business and government leaders currently see the loss of life from Covid-19 and related economic effects as the world’s greatest short-term threats, said the World Economic Forum. The group which…

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A woman pulls a trolley with goods in the central business district (CBD) of Beijing on January 18, 2021. (Photo by WANG Zhao / AFP)

Most Asia stocks down after gains, China growth beats forecasts

Most markets fell Monday as investors took a breather following a recent rally, though Hong Kong and Shanghai enjoyed gains after data showed China’s economy grew more than expected last…

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Opposition Pheu Thai Party proposes more cash for those affected by COVID-19

Thailand’s opposition Pheu Thai Party has voiced disagreement with the government’s plan to provide cash giveaways of 3,500 baht a month for two months to people affected by COVID-19, noting…

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A pedestrian walks past an electronic quotation board displaying share prices of the Tokyo Stock Exchange in Tokyo on January 13, 2021. (Photo by Kazuhiro NOGI / AFP)

Global stocks mixed after Wall St rebounds from uncertainty

Global stocks were mixed Wednesday after Wall Street rebounded, shrugging off uncertainty about a possible new attempt to impeach President Donald Trump over last week’s attack on the U.S. Capitol….

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Electricity, water and internet bills to be reduced to help public and SMEs

Thailand’s cabinet has resolved to launch a set of urgent relief measures, to help the public and SMEs, by boosting liquidity, increasing benefits for the unemployed and reducing the cost…

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Thai workers look at job advertisements displayed at the Labour Ministry in Bangkok.(Photo by PORNCHAI KITTIWONGSAKUL / AFP)

Household debt in Thailand highest in 12 years

COVID-19 can be blamed for pushing Thai household debt to its highest level in 12 years, around 480,000 baht per household, said The University of the Thai Chamber of Commerce…

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Thailand Tourism
This photograph taken on December 19, 2020 shows longtail boats moored at a beach on Koh Lipe island in the Andaman Sea. (Photo by Mladen ANTONOV / AFP)

Tourism sector propose debt moratoria and electricity subsidy

Thailand’s Tourism Council is calling for the government to help revive the industry urgently, grant long-term debt moratoria, and cut power bills for a year. Vice president of the council,…

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COVID-19 export fruit

China is delaying imports of Thai produce from red-zone provinces

China’s custom authorities are imposing more stringent COVID-19 testing measures on imports, and there has been a big impact on Thai produce as some Chinese companies have not yet placed…

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Thai Gov to launch new round of co-payment scheme registrations next week

People who missed out on the second phase of the 50:50 co-payment scheme, due to technical problems, can register again this week, said Kulaya Tantitemit, spokesperson for the Finance Ministry…

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A Union flag flutters in the breeze as the sun sets in Hartlepool, north-east England, on January 1, 2021, where 69.6% of voters in the 2016 “Brexit” referendum opted to leave the EU (European Union). (Photo by Oli SCARFF / AFP)

Brexit deal’s ‘rules of origin’ spark trade confusion

Many British businesses are swiftly discovering that they must now pay duties on exports bound for the European Union, despite the breakthrough Brexit free trade deal clinched over Christmas. The…

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KRC estimates ฿45bn economic loss in a month from new COVID-19 outbreak

Thailand’s second COVID-19 outbreak, which originated in the coastal province of Samut Sakhon on December 19th, may cause economic damage estimated at about 45 billion baht in just one month,…

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A man cycles along a bridge in Singapore on January 4, 2021, as the skyline is seen in the background. (Photo by Roslan RAHMAN / AFP)

Singapore’s virus-hit economy suffers worst decline in 2020

Singapore’s economy suffered its worst ever annual contraction in 2020 as the coronavirus pandemic hammered the city-state’s vital trade and tourism sectors, official data showed Monday. But the 5.8 percent…

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©Democrat Party, Thailand

Korn urges government to use ฿600bn loan balance to ease impact of COVID-19

Thailand’s former finance minister Korn Chatikavanij has urged the government to make quick use of all available resources, particularly the 600 billion baht residue of two loans, to ease the…

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Get set for more long holidays in 2021 and more spending!

Thailand is expected to lose about 5.85 billion baht in anticipated revenue during the New Year holidays due to the new outbreak of Covid-19. However, the government has come up…

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Gig economy workers say they can no longer survive

Whether in Paris, Kuala Lumpur or California, gig economy workers fear they can no longer survive on meagre earnings from jobs that leave them increasingly vulnerable. The term “gig” stretches…

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Most Asian markets advance after Wall St sets new records

Asian markets mostly rose Tuesday following a record-breaking lead from Wall Street, as investors cheered the passage of a huge US stimulus bill which has helped temper fears about surging…

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How retail is changing in the wake of COVID-19

The pandemic has disrupted the way we shop. Little wonder then that retailers and shoppers are adapting to the new world of click and buy Time flies. It’s already December…

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Thai private sector concerned that protests may affect investor confidence

The private sector in Thailand is concerned that the current political conflict, if it turns violent, may impact the confidence of foreign and local investors and consumers and would like…

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New e-commerce tax bill to be considered by the Senate next week

A new e-business tax bill, which has been approved by the House scrutiny committee, will be forwarded to the Senate next week for consideration. Under the bill, foreign-based online platform…

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Photo from thaiairways.com

THAI to auction off in-flight items, lease out office buildings to generate income

Thai Airways International is to auction off many in-flight items, stored in its warehouses, and lease its three office buildings to generate badly-needed revenue while the airline is unable to…

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THAI to auction off 34 aging aircraft

Financially-strapped Thai Airways International is to auction off 34 aircraft, with an average age of about 20 years, to anyone who is interested. The aircraft include the Airbus A340-500 and…

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THAI Airways plans special merit-making flight

Thai Airways International is planning a special flight for people to make merit at numerous temples on November 30th, without actually visiting the temples, in an attempt to boost tourism….

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SRT and Chinese firm sign contract for rail, electrical systems and carriages for HST project

The State Railways of Thailand (SRT) signed a 50-billion baht contract, with China Railway International Company Limited, today for the installation of rail, electrical systems and procurement of train carriages…

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Women walk past a row of bank automatic teller machines in a commercial building in Bangkok on September 1, 2020. (Photo by Romeo GACAD / AFP)

IMF readjusts Thailand’s GDP forecast from -7.7% to -7.1%

The International Monetary Fund (IMF) has adjusted Thailand’s GDP growth forecast, from -7.7% to  -7.1% for 2020. This is an indication that the Thai economy is recovering after the Government…

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Thai economy expected to contract in 2020, but will recover next year

The Organization for Economic Co-operation and Development, or OECD, has published its assessment of the Thai economy, saying that the pandemic has interrupted Thailand’s socioeconomic progress. In its recent 163-page…

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Two Chiang Rai tea products win Gold in World Green Tea Competition 2020 in Japan

Two companies in Thailand’s northern province of Chiang Rai have recently won Gold Prizes for their two tea products at the World Green Tea Competition 2020, held in Shizuoka prefecture…

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Two engineers from Energy Business Department nabbed for alleged bribery

Two senior engineers, working for Thailand’s Energy Business Department, have been arrested at their office by anti-corruption officials for allegedly demanding bribes from an oil business related company, to facilitate…

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Beat the COVID crisis and get hired – Advice for new graduates

The coronavirus pandemic has triggered an economic recession, with no sign of recovery in the near future. By the end of this year approximately 3-4 million people will be unemployed,…

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AMLO is verifying reports of four Thai banks’ alleged role in suspicious transactions

Thailand’s Anti-Money Laundering Office (AMLO) is in the process of verifying a report, by the International Consortium of Investigative Journalists (ICIJ), that four Thai banks have been involved in suspicious…

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LPG price for household use to be frozen until year end

Thailand’s Energy Policy Committee (EPC) has decided to freeze the retail price of liquefied petroleum gas (LPG) for household use for three months, in order to ease the financial burden…

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New grand plan to bring tourists back to Thailand in fallout of COVID-19

Thailand is preparing to welcome back foreign tourists – at least, those with deep pockets – from next month, with a strategy that seeks to restore its battered tourism sector…

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Thailand conditionally to open its doors to long-stay tourists

The Thai cabinet has approved, in principle, the guidelines of the Ministry of Tourism and Sports to be used to open Thailand to long-stay foreign tourists, in a bid to…

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Workers are transported on a truck to a construction site in Bangkok on July 23, 2020. (Photo by Mladen ANTONOV / AFP)

Senate committee asked to rethink changing mandatory retirement age

A subcommittee, of Thailand’s Senate Committee on Social Development and Affairs of Children, Youth, Women, Elderly People and Under-privileged people, has proposed a rethink and delay of a plan to…

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Central Bankruptcy Court endorses THAI’s rehabilitation filing and planners

Thailand’s Central Bankruptcy Court, this morning (Monday), approved Thai Airways International Public Company’s (THAI) debt rehabilitation filing and its rehabilitation planners. In approving the debt-stricken national flag carrier’s rehabilitation filing,…

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Budget Bureau announces delay in new budget disbursement

All government units have been told, by the Budget Bureau, that disbursement of funds from the 2021 fiscal year budget will be delayed until after October 1st, the first day…

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Thai Government to roll out another stimulus package to help retail sector

Thailand’s Centre for COVID-19 Situation Administration (CCSA) has approved a new 45 billion baht stimulus package, for distribution to 15 million Thai adults to spend with independent vendors, small retailers,…

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No more enforced social distancing on Thailand’s public rail networks

Thailand’s Department of Rail Transport has decided to ease social distancing measures, when travelling on all public rail transport systems, by allowing the occupancy of all seats, but passengers must…

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Thailand’s PM promises help for domestic low-cost airlines

Seven of Thailand’s domestic low-cost airlines have been promised a new lease of life, after Prime Minister Prayut Chan-o-cha agreed to help, starting with the injection of 24 billion baht…

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American Airlines to cut 19,000 jobs in October without aid, workforce shrinking 30%

CHICAGO (Reuters) – American Airlines said on Tuesday its workforce will shrink by 40,000, including 19,000 involuntary cuts, in October as the COVID-19 pandemic continues to weigh on air travel,…

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More Thai people saving in bank accounts during COVID-19 pandemic

The COVID-19 pandemic has prompted more Thai people to put their savings in banks, increasing the number of bank depositors covered by the Deposit Protection Agency (DPA), for the first…

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Thai cabinet keeps VAT rate at 7% for another year

The Thai cabinet today decided to retain the 7% value-added tax rate for all trade transactions, services and imports subject to VAT until the end of September next year. Finance…

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Thailand’s exports have bottomed out, gradually recovering

Compared to the same period last year, Thailand’s exports for the month of July dropped 11.37%, to US$18.8 billion, while imports fell 26.38%, to US$15.47 billion, according to Pimchanok Wornkhorporn,…

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Thailand’s Finance Ministry to roll out ฿114 billion in soft loans to assist SMEs

The Cabinet approved the Finance Ministry’s proposal today to roll out about 114 billion baht in soft loans and credit guarantees, to help small and medium-sized enterprises (SMEs), as well…

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A Thai-Airway Boeing 747 taxies on the tamac of the freed Suvarnabhumi international airport after making the first arrival flight at the protest-hit airport in Bangkok on December 3, 2008. Airlines gradually resumed international and domistic flights to and from the airport after protesters ended a blockade, with full operations expected on December 4, 2008. AFP PHOTO/HOANG DINH Nam (Photo by HOANG DINH NAM / AFP)

Creditors object to THAI’s rehabilitation plan administrator appointment

A lawyer for some of Thai Airways International’s creditors has voiced reservations over the national flag carrier’s appointment of a company to administer its rehabilitation plan. The objection was raised…

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Thailand’s GDP this year set to contract 7.8-7.3%, not 5-6% previously forecast

Thailand’s household debt has increased to the highest level in four years, whereas the Gross Domestic Product (GDP) for the second quarter contracted 12.2%, prompting the Finance Ministry to forecast…

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Thai PM identifies addressing economic crisis as Government’s top priority

Reminding Thai people of the current global economic crisis, one of the worst the world has faced and one which is likely to continue until the end of next year,…

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UK job losses hit decade-high, worse seen ahead

LONDON (Reuters) – The number of people in work in Britain has suffered the biggest drop since 2009 and signs are growing that the coronavirus will take a heavier toll…

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photo from Nation Thailand

Uphill mission awaits new finance minister

Predee Daochai is taking on what is probably the most unenviable task — steering Thailand out of its worst economic crisis in modern history.   By accepting Prime Minister Prayut…

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Twitter, TikTok discuss potential combination

Twitter is in preliminary discussions for a possible combination with TikTok, the Wall Street Journal reported Saturday, after US President Donald Trump said he would ban the app, calling it a…

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Samsung Electronics to halt production at its last computer factory in China

SEOUL (Reuters) – Samsung Electronics Co will halt operations of its last computer factory in China, the South Korean tech giant said on Saturday, the latest manufacturer to shift production…

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BOT cuts interest rates on credit cards and loans by 2-4% from today

The Bank of Thailand (BOT) has ordered commercial banks and financial institutions to cut the higher interest rates, charged to customers with credit card balances and personal loans, by 2-4%,…

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Nok Air determined to carry on after filing court rehabilitation plan

Nok Air chairman Prasert Boonsamphan has assured that the Thai airline is determined to carry on operating, after the Central Bankruptcy Court accepted the company’s business rehabilitation plan yesterday. He…

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Huawei’s founder has defiantly hit back after a bruising week for the Chinese smartphone giant

Huawei overtakes Samsung as top smartphone seller: report

LONDON (AP) — A technology research firm says Huawei has overtaken Samsung to become the world’s biggest smartphone seller, as its home market in China emerged from the coronavirus pandemic…

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