Business

How US-China trade war is impacting Thailand

Since the US China trade war kicked off in the middle of last year, Thai business begin to feel the pinch as seen by the downward trend of Thai exports….

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Is the EEC’s future hanging in a balance?

The future of the Eastern Economic Corridor (EEC) could hang in a balance as it remains uncertain which parties will form the new government.  The EEC, the massive-scale infrastructure project…

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FAA lists 26 flaws in Thailand’s aviation standards that need rectification

The US Federal Aviation Administration (FAA) has identified 26 flaws in Thailand’s aviation standards during its recent inspection and has recommended that they be rectified if Thailand is to regain…

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UK lawmakers brand Facebook “‘digital gangsters”

LONDON (AP) — British lawmakers issued a scathing report Monday that calls for tougher rules to keep Facebook and other tech firms from acting like “digital gangsters” and intentionally violating…

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May wins mandate to reopen Brexit deal but EU says no changes

British Prime Minister Theresa May won a few weeks to salvage a Brexit deal but headed toward a clash with the European Union by promising to overhaul the divorce agreement…

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Japan’s Nikkei: Ghosn says arrest due to plot within Nissan

TOKYO (AP) — The Japanese business daily Nikkei reported Wednesday that Nissan’s former chairman Carlos Ghosn, in his first interview since he was detained in November, blamed his arrest on…

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Bank report says 2.6 billion baht financial loss so far from smog in and around Bangkok

The ongoing smog problem in and around Bangkok has caused financial loss estimated at 2,600 million baht since late last month in term of lost opportunities in health and tourism…

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TDRI concerned that many buyers of cheap housing units may default  

Thailand Development Research Institute (TDRI) has expressed concern that low income-earners who bought housing units under the government-sponsored “One Million Housing Units” project may not be able to pay their…

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World’s 26 richest own same wealth as poorest half of humanity: Oxfam

DAVOS, SWITZERLAND (AFP) – The world’s 26 richest people own the same wealth as the poorest half of humanity, Oxfam said on Monday, urging governments to hike taxes on the…

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SEC imposes hefty fine on Prasert Prasarttong-Osoth and 2 associates for shares manipulation

The Securities and Exchange Commission (SEC) has decided to slap a 499.95 million baht fine on billionaire businessman Dr Prasert Prasarttong-Osoth, his daughter Ms Paramaporn and another woman, Mrs Narumon…

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Singapore, Vietnam reportedly shortlisted for second Trump-Kim summit

Singapore and Vietnam are likely to be shortlisted to host a second summit between North Korean leader Kim Jong Un and United States President Donald Trump, South Korean Foreign Affairs…

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Rice warehouses and rice surveyors next in line to face the axe over controversial rice pledging scheme

The Public Warehouse Organization (PWO) has submitted to the Office of the Attorney-General (OAG) all the contracts related to the hiring of private warehouses and rice surveyors for the storing…

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GHB to set aside 1  billion baht fund to help customers affected by Pa Buk

The Government Housing Bank will set aside a fund of one billion baht to be extended to people whose houses are damaged by tropical storm Pa Buk which is wreaking…

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US team to visit China for trade talks Jan 7-8: Beijing

A US government delegation will visit China Monday and Tuesday for the first face-to-face talks since US President Donald Trump and his Chinese counterpart agreed on a tariff truce, China’s…

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More loans planned for One Million Housing Units project

The Finance Ministry has ordered the Government Housing Bank to increase the limit of housing loans initially set at 50 billion baht for the One Million Housing Units project after…

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Thousands flock to Government Housing Bank for cheap housing loans

Thousands of people flocked to the head office of the Government Housing Bank (GHB) on Rama 9 Road in Bangkok this morning in order to apply for housing loans to…

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Business operators’ confidence index for November highest in 66 months

Business operators’ confidence index for the month of November peaked to 93.9 points from 92.6 points in October, representing the highest level in 66 months since June 2013. Suphan Mongkonsuthee,…

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AOT board gives go-ahead for second passenger’s terminal at Suvarnabhumi airport

The board of directors of Airports of Thailand (AOT) has given the greenlight for the construction of the second passenger’s terminal at Suvarnabhumi international airport despite earlier demands from leading…

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Central bank ups policy rate to 1.75 — first time in 7 years

For the first time in seven years, the Bank of Thailand on Wednesday increased its policy rate by 25 points to 1.75 percent from 1.50 percent. The Monetary Policy Committee…

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Thai Rath to downsize through voluntary early retirement 

In another sign of worsening troubles for the media industry, mass-circulation Thai Rath newspaper is joining its media colleagues in downsizing its staff through a voluntary early retirement scheme. Thai…

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Supporters hold signs calling for a release of Huawei Technologies chief financial officer Meng Wanzhou outside her bail hearing at British Columbia Superior Courts in Vancouver following her December 1 arrest in Canada for extradition to the US.

Canadian court grants bail to CFO of China’s Huawei

VANCOUVER/BEIJING (Reuters) – A Canadian court on Tuesday granted bail to a top executive of Chinese telecoms giant Huawei Technologies Co Ltd while she awaits a hearing for extradition to…

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Top Huawei executive arrested on US request, clouding China trade truce

VANCOUVER/BEIJING (Reuters) – The daughter of Huawei’s founder, a top executive at the Chinese technology giant, was arrested in Canada and faces extradition to the United States, roiling global stock…

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Visa online service to be launched at Thai consular office in Beijing

Chinese people in Beijing will be able to apply for visa to visit Thailand through online service starting February 15. The e-visa system, jointly launched by the Ministry of Foreign Affairs…

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Tourist arrivals in Phuket increase 10 percent during high season

Tourist arrivals in the famous resort town of Phuket have increased by 10 percent, with more visitors from India though Chinese arrivals have not picked since the Phoenix tourist boat…

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Government to give 1,500 baht/rai cash handouts to oil palm planters

In yet another populist move, the National Oil Palm Committee led by Deputy Prime Minister Prawit Wongsuwan plans to give away 1,500 baht/rai cash handout to 150,000 oil palm planters…

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Prime Minister Gen Prayut Chan-o-cha is greeted by German Chancellor Angela Merkel during his visit to Germany on Wednesday. –Photo from Government House

PM says he wants Thailand to be strategic partner with Germany

Describing Germany as a long-time ally of Thailand dating back to over 150 years, Prime Minister Prayut Chan-o-cha told his German counterpart, Chancellor Angela Merkel that Thailand aspired to become…

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Plane shortage leads to THAI’s 10 percent loss of market share in past 3 months

Thai Airways International has lost 10 percent of its market share in the past three years due to a shortage of aircraft and if it wants to restore the market…

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Tourism business starts to rebound:  Minister Veerasak

The Thai tourism business which was dealt a serious blow since mid-July from a substantial drop of Chinese arrivals over a tourist boat tragedy in the sea off Phuket has…

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Prayut lays out measures to help rubber planters, blames Thaksin government for rubber crisis

Prime Minister Prayut Chan-o-cha has blamed the Thaksin government’s policy in 2004 to promote the expansion of one million rai of rubber plantations for today’s rubber surplus, making Thailand the…

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Chiang Mai’s small hotels on sale due to falling Chinese tourist arrivals

A fallout from declining tourist arrivals, especially Chinese since the Phoenix tourist boat tragedy in mid-July, has forced more than 10 small hotels and hostels in Chiang Mai to put…

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Cabinet agrees to inject 18.6 billion baht to help rubber planters and tappers

The Cabinet on Tuesday approved in principle 18.6 billion baht in aid package to help rubber plantation owners and rubber tappers currently affected by falling rubber prices. Under the aid…

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Growth rate for 3rd quarter drops but to rebound in last quarter:  NESDB

Economic growth rate for the third quarter was registered at 3.3 percent – down from 4.6 percent during the second quarter, but the growth rate for the fourth quarter is…

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World’s biggest glass-bottomed skywalk unveiled in Bangkok

King Power International Group has unveiled what is billed as the world’s biggest glass-bottomed skywalk located on the rooftop of the 78-storeyed King Power Mahanakhon building on Narathiwat Road in…

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Thailand should learn to adjust its sail to cope with China: former envoy

Former Thai ambassador to China Viboon Koosakul has suggested that Thailand learn to make adjustments to accommodate modern China which is now entering an era of innovation. Viboon described China’s…

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A screen shows the gross merchandise volume, a measure of sales, after 2 seconds of Singles Day sales, as it reaches about 1,437,752,505 USD during the 2018 Tmall 11:11 Global Shopping Festival gala in Shanghai early on November 11,

Alibaba Singles’ Day smashes $25 billion sales record

SHANGHAI (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd smashed the 2017 record for its Singles’ Day sales event on Sunday, surpassing 168 billion yuan ($24.15 billion) sales in…

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Jiaravanon family member buys Fortune magazine

Thai businessman Chatchaval Jiaravanon, a member of one of Thailand’s richest families, has  bought Fortune magazine for US$150 million through his wholly-owned company, Fortune Media Group Holdings Limited. Fortune magazine…

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Business leaders welcome political timeline

Business leaders today welcomed the announcement of political timeline by Deputy Prime Minister Wissanu Krea-ngarm on Thursday. Federation of Thai Industries president  Suphan Mongkolsuthee said the election which is to…

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7-Eleven store chain announces intention to reduce and to end use of plastic bags

CP All Public Company, the sole operator of 7-Eleven convenience store chain, on Wednesday announced its declaration of intention to reduce and, eventually, to end the use of single-use plastic…

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Alibaba’s Ma calls US-China trade war ‘most stupid thing in this world’

SHANGHAI (Reuters) – The US-China trade war is the “most stupid thing in this world,” Jack Ma, the chief of Asia’s most valuable public company, Alibaba Group Holding Ltd, said…

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Tourism revenue next year may drop by 50 billion baht as growth target missed

The Tourism Authority of Thailand’s projection of 11.5 percent growth in tourist arrivals next year may not be met, resulting in a revenue loss of about 50 billion baht unless…

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PM pleased with World Bank’s assessments of Thailand’s performance in Doing Business Report 2018

Prime Minister Prayut Chan-o-cha is satisfied with Thailand’s latest rankings in the World Bank’s Doing Business Report 2018. Government spokesman Putthipong Punnakan said today that the prime minister was pleased…

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Anti-graft body asks PM to impose “integrity pact” in bidding for duty-free shops at Suvarnabhumi airport

The Anti-Corruption Organization of Thailand (ACT) has urged Prime Minister Prayut Chan-o-cha and the Public Section Anti-Corruption Commission to impose “integrity pact” in a new round of auction to choose…

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4 EEC-related mega-projects endorsed by the Cabinet

The Cabinet on Tuesday gave nod to four mega-projects related to the Eastern Economic Corridor (EEC) at its meeting in the northern province of Chiang Rai. The four project, namely…

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DTAC wins 900-MHz spectrum license for 38 billion baht

DTAC TriNet, a subsidiary of Total Access Communication, won the auction for a 900 megahertz licence uncontested with a bid at 38,064 million baht at the National Broadcasting and Telecommunications…

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Trade war drives China’s investment in Asean to triple

The US-China trade war is driving China to turn to invest even more in Asean and the investment value is projected to surge to 16 trillion baht in the next…

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Another Bt50bn to be injected for grassroots economic stimulation

In a bid to cope with an expected slowdown in global economic growth next year, Deputy Prime Minister Somkid Jatusripitak has instructed the Finance Ministry to inject another  50 billion…

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AI, big data technology used in pilot project to ease Bangkok’s traffic congestion

Four main roads in Bangkok are included in a five-year pilot project aimed at easing traffic congestion in the capital with the help of artificial intelligence (AI) and big data…

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Sudarat affirms Phue Thai’s stance against pro-regime camp

Key Pheu Thai Party figure, Khunying Sudarat Keyuraphan, has insisted the party would not be ready to work with Gen Prayut Chan-o-cha if he happens to stay in power after…

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Bank of Thailand Governor Veerathai Santiprabhob with Chairman of Indonesia’s Financial Services Authority Board of Commissioner Wimboh Santoso after signing a Memorandum of Understanding (MOU) on banking supervision in Nusa Dua, Bali, Friday. — Photo from Public Relations of Financial Services Authority.

Thailand, Indonesia to strengthen banking supervision

Bank of Thailand and  Indonesia`s Financial Services Authority signed a memorandum of understanding (MoU) committing efforts to strengthen banking supervision in both countries. Antara News reported that the MoU was signed…

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FM dismisses rumours of quota of visas for Chinese tourists

The Thai Foreign Ministry has dismissed rumours that Thailand is imposing a limited quota of visas for Chinese visitors to Thailand. The ministry had checked with the Thai embassy in…

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Energy committee rejects takeover of GLOW by PTT’s subsidiary

PTT Public Company’s attempt to take over Glow Energy Company or GLOW has been blocked by the Energy Regulatory Commission.   An informed source said the commission on Wednesday decided…

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IMF raises economic forecast for Thailand, trims Asean’s outlook

The International Monetary Fund (IMF) has raised its projection of Thailand’s economic growth for this year to 4.6% from 3.9% last year, while cutting the economic growth forecast of Asean….

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Over 400 flights delayed at Suvarnabhumi airport after THAI plane skidded off runway

Altogether 448 flights arriving at and departing from Suvarnabhumi international airport on Tuesday were delayed after a THAI Boeing 744 plane skidded out off the runway and with some of…

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Japan’s Prime Minister Shinzo Abe delivers a speech next to Myanmar’s State Counsellor Aung San Suu Kyi during a joint press announcement for the 10th Mekong-Japan Summit at the Akasaka Palace state guest house in Tokyo on Tuesday, as Cambodia’s Prime Minister Hun Sen , Laos Prime Minister Thongloun Sisoulith, Thailand’s Prime Minister Prayut Chan-o-cha and Vietnam’s Prime Minister Nguyen Xuan Phuc look on.

New Mekong strategy aims to boost quality infrastructure

The five Southeast Asian nations along the Mekong River, including Thailand, and Japan today adopted a new three-year strategy centering on improving connectivity through promotion of “quality infrastructure” building for…

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PM Prayut attends 10th Mekong-Japan Summit in Japan

Prime Minister Prayut Chan-o-cha left this morning for Tokyo, Japan, to attend the 10th Mekong-Japan Summit and hold related talks with leaders of Cambodia, Laos, Myanmar, Vietnam and Japan. The…

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20 injured in double decker’s plunge into a roadside ravine

About 20 passengers were injured when a double-decker tour bus collided with a car before plunging into a forested ravine 50 metres below in Wichien Buri district of the central…

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Then US Ambassador Derek Mitchell visits Kachin State in December 2012. – Photo from The Irrawaddy

China taking active moves to counter Western influence in Myanmar: US Report

YANGON (The Irrawaddy) —A recent US report portrays China as seeking privileged access and influence inside Myanmar in order to further its geostrategic interests, while taking steps to counter the…

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Japan and Germany eye Thailand’s train-making factory project

Japan and Germany are interested in investing in Thailand’s new project to build a factory to assemble trains, said Deputy Transport Minister Pailin Chuchottaworn. At this point, he said, the…

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Thailand removed from CITES blacklist of countries affected by illegal trade of ivory tusks

Thailand has been removed from the blacklist of countries affected by illegal ivory trade, said Mr Somkiart Suntornpitakkool, director of the Wildlife and Plants Protection Division, on Friday. He said…

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World Bank projects higher economic growth for Thailand

The World Bank has adjusted its projection of Thailand’s economic growth for the entire year to 4.5%, from the previous projection of 4.1%, said Kiattiphong Ariyapratchaya, a senior economist of…

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Photo: www.eeco.or.th

EEC board approves four more mega infrastructure projects

The government’s committee directing the policy of the flagship Eastern Economic Corridor (EEC) scheme, also known as the EEC board, on Thursday agreed in principle to endorse four more mega…

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Diesel price to go up if global crude oil price rises to US$90-100/barrel

Energy Minister Siri Chirapongphan has hinted that retail price of diesel may be increased above 30 baht/litre if global crude price rises to between 90-100 US dollars/barrel and the 6,000…

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Consumer confidence index drops for first time in four months

Consumers’ confidence index for the month of September dropped slightly to 82.3 from August’s 83.2 – the first time in four months mainly due to a drop in the arrivals…

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Popular Maya Bay closed indefinitely for rehab after serious damage

The closure of Maya Bay, part of an island in Krabi’s Mueang district globally famous after it was picked as the shooting location for the movie “The Beach” in 1999,…

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Inflation in steady rise for 15 consecutive months

Inflation has continued to rise 15 months in a row to an average of 1.14 per cent for the first nine months of this year, said Ms Pimchanok Wornkhorporn, director…

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Japan beats Thailand to become Chinese tourists’ top choice

Japan has overtaken  Thailand to become the top destination for Chinese vacationers during this Golden Week  holiday of China, starting today, according to Ctrip.com, a major tourism website of China….

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PM regrets  assault incident at Don Mueang airport

Prime Minister Prayut Chan-o-cha has expressed regrets over a recent incident at Don Mueang international airport in which a Chinese tourist was assaulted by an airport security guard after the…

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More subsidy injected to freeze retail price of diesel at 30 baht/litre until year end

The Energy Policy Committee has agreed to inject another 70 satang/litre to one baht/litre subsidy from the Oil Fund to freeze the retail price of diesel at 30baht/litre. Energy Minister…

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Tham Luang to offically reopen to public on December 1

The Tham Luang Khun Nam Nang Non in Chiang Rai province which has been closed for renovation to restore its natural environment following the dramatic rescue operations to save the…

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USTR threatens to cut GSP for Thailand over labour, pork issues

The US Trade Representative (USTR) has threatened to cut the Generalized System of Preferences (GSP) for Thailand for failing to fully respond to its previous request for amendments to Thailand’s…

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No extension for the service of ageing passenger vans after September 30

All ageing passenger vans which are over ten years old will be put out of service starting October 1 after the working committee to regulate the service of the vans…

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ADB raises economic outlook for Thailand, cut forecast growth for Asean

The Asian Development Bank (ADB) has raised Thailand’s economic growth forecast this year by 0.5% from a previous forecast in April to 4.5%, while cutting Asean’s economic growth forecast to…

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Credit bureau warns home loan bad debts continue to grow

The National Credit Bureau (NCB) today echoed concerns raised by the Bank of Thailand (BoT) over rising non-performing loans (NPL) in the mortgage sector. The overall NPL rate now stands…

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9 billion baht fund to be sought from Central Fund to help small rubber farmers

The board of Rubber Authority of Thailand will ask for 9 billion baht from the government’s Central Fund to help about 300,000 rubber planters who each owns not more than…

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Only Chevron and PTTEP submit bids for Bongkot, Erawan blocks

US-based Chevron Corp and PTT Exploration and Production (PTTEP) are the only two contenders that submitted their bids for concessions of the Erawan and Bongkot natural gas fields in the…

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Ex-DSI chief Tarit acquitted in malfeasance case filed by Abhisit and Suthep

The Criminal Court on Tuesday acquitted former director-general of the Department of Special Investigation (DSI) Tarit Pengdit and four other police officers from charges of malfeasance filed against them by…

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Temple pagoda of Rama III era subsided, injuring 11 people

Eleven workers were injured, three of them seriously, after a historic pagoda under renovation at Wat Phrayatham Voraviharn in Bangkok Noi district, Bangkok, caved in before noon today. Police reported…

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Teak logs in new parliament building designed to convey  “Thai-ness”

The use of teak wood to decorate the interior of the new parliament building under construction is meant to convey Thai culture and Thai-ness, House of Representatives secretary-general Sorasak Pienwech…

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Government facing heat over use of teak wood to decorate new parliament building

Stop Global Warming  Association president Srisuwan Janya has threatened to lodge a lawsuit with the Central Administrative Court against the government if it allows the use of a large quantity…

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Energy Ministry to hold bidding for gas exploration in Bongkot and Erawan blocks

The Ministry of Energy will go ahead with the bidding for gas exploration in the Bongkot and Erawan concession blocks in the Gulf of Thailand on Tuesday. A ministerial source…

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City Hall holds event to mark International Car Free Day

The Bangkok Metropolitan Administration marked the International Car Free Day this morning  with an event in front of Central World shopping mall to urge motorists to reduce their use of…

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Exports for August rise 6.68 percent – the highest so far this year

Thai exports for the month of August grew 6.68 percent to US$23.8 billion which was the highest so far this year, said Ms Pimchanok Wornkhorporn, director of Trade Policy and…

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Ford car company ordered to pay 23 million baht in compensation to 291 car buyers

A total of 308 buyers of Ford Fiesta and Focus cars have won a class action lawsuit against Ford Sales and Service (Thailand) after the Bangkok South Civil Court ordered…

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Business operators’ confidence index drops for August

Confidence index of business operators for the month of August was 92.5 points – down from 93.2 points recorded in July, according to the Federation of Thai Industries. FTA president…

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Governor admits Bangkok still faces flood risks

Bangkok still has to watch out for possible flooding while massive run-offs from upper Thailand are expected to pass the capital through Chao Phraya River in the aftermath of Typhoon…

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Cabinet gives nod to over 60 mega projects to facilitate EEC

The Cabinet on Tuesday approved more than 60 large-scale investment projects in the lower North and upper Northeast designed to facilitate and to connect with the government’s flagship Eastern Economic…

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China hits back by levying tariffs on US$60b of US goods

BEIJING (REUTERS) – China will levy tariffs on about US$60 billion worth of US goods in retaliation for new US tariffs, as previously planned, but has reduced the volume of…

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Law to be amended to give better protection to copyright owners

The amended copyright law will provide better protection to owners of copyrights by empowering them to notify internet service providers to “take down” their works such as music, films, books…

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Wat Pho beats Great Wall of China in TripAdvisor’s  2018 ranking

Wat Phra Chetuphon Wimon Mangkhalaram, better known as Wat Pho, in Tha Tian area of Bangkok’s old town, has beaten the Great Wall of China in the 2018 world’s top…

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Royal Turf Club of Thailand closes for good

Curtain was finally down today  for the Royal Turf Club of Thailand, commonly known as the Nang Loeng racecourse, after 102 years in service as a venue of horse racing…

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Air Asia announces 32 flight cancellations on Sunday

Air Asia has announced the cancellation of 32 regional flights through southern China scheduled on Sunday as they are expected to be affected by Typhoon Mangkhut. The affected return flights…

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PM Prayut says Thailand has “very high” foreign reserves

Thailand has “very high” foreign reserves estimated at almost 200 billion dollars in August, Prime Minister Prayut Chan-o-cha said last night. Speaking in his weekly address, he pointed out that…

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Admin court gives redress to Dtac’s 850 Mhz phone users until December 15

The Central Administrative Court has ordered the National Broadcasting and Telecommunications Commission (NBTC) to provide redress to mobile phone subscribers using 850 megahertz spectrum of Total Access Communications (Dtac) until…

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New High Commissioner for Human Rights Michelle Bachelet is seen on a TV screen delivering her speech during the opening day of the 39th UN Council of Human Rights in Geneva on September 10, calling for the creation of a new “mechanism” tasked with preparing criminal indictments over atrocities committed in Myanmar.

UN human rights chief calls for new “mechanism” to deal with atrocities against Rohingya 

GENEVA — New UN High Commissioner for Human Rights Michelle Bachelet today called for the setting up of a new “mechanism” to prepare criminal indictments over atrocities committed in Myanmar,…

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All Nippon Airways check-in desks announces the cancellation of all flights due to an earthquake

A board next to the All Nippon Airways (ANA) check-in desks announces the cancellation of all flights due to an earthquake, at Chitose airport in Chitose city, Hokkaido prefecture on…

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Two executives of IFEC heavily fined for insider trading

The Securities Exchange Commission (SEC) has imposed heavy fines on the top executive and a former executive of Inter Fareast Energy Corporation (IFEC) for insider trading. SEC said it had…

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Customs to tighten up watch on couriers of brand-name products

The Customs Department will set up an intelligence gathering centre to keep track on people posing as passengers but in fact are couriers smuggling in brand-name products from overseas.  …

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Artificial rain-making operations for 13 water-scarce provinces

As many provinces throughout the country are awash with rain and facing flooding, there are 13 provinces in northern, northeastern and central regions which are scarce of water and need…

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More seatless carriages planned for subway trains during rush hours

Bangkok Expressway and Metro Pcl which operates the Blue Line subway is pondering whether it should double the number of seatless carriage to two for each train so there will…

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Consumer’s confidence index for July highest in 62 months

Consumer’s confidence index for the month of July was registered at 82.2 representing the highest rate for the past 62 months of five years and two months since June 2013,…

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