Track Thailand's economy in English — business, trade, finance and market news, covered by Thai PBS World, Thailand's public broadcasting service.
Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power. Consumer prices in the 19-country eurozone hit a record 10% in September, up from
Thailand has invited French President Emmanuel Macron to attend the Asia Pacific Economic Cooperation Leader’s Meeting (APECLM) in November, Thai PBS World has learned. The invitation is special, because France is a leading member of the European Union and not a member of Asia-Pacific Economic Cooperation (APEC). It would be Macron’s first visit to Thailand
The Thai baht continues to weaken against the US dollar, falling to 38/$US, mainly due to the strengthening of the greenback, as a result of the recent increase in the US Federal Reserve’s base rate, which has forced other currencies, including the Thai baht, to weaken. Analysts say, however, that this is not unexpected. According
The Bank of Thailand’s Monetary Policy Committee (MPC) has unanimously voted to increase the key interest rate by 0.25%, to 1.00%, with immediate effect. The central bank said, in a statement today (Wednesday), that the Thai economy continues its steady recovery, thanks to the improved tourism sector and increased consumption by the private sector. It
The Thai cabinet agreed to extend discounts on electricity of not more than 50 units and tap water not exceeding 315 baht per month for holders of welfare cards until April next year, to ease their financial burden, according to government spokesman Anucha Burapachaisri. He said that welfare card holders who use up to 50
Once known as a “financial wizard”, Indian-born Rakesh Saxena now faces decades in jail for a Thai banking scandal that triggered the 1997 Asian financial crisis. Following a legal battle that dragged on for 26 years, the Supreme Court on September 12 finally sentenced Saxena to 335 years in jail over three lawsuits stemming from
The Tourism Authority of Thailand (TAT) on Phuket has predicted that more than 200,000 Thai and foreign tourists will visit the resort island during the 9-day vegetarian festival next week. According to the office, about 60% of the hotel rooms on the island have already been booked and all hotels and resorts will be fully
The board of Thailand’s National Broadcasting and Telecommunications Commission (NBTC) is expected make a decision on the planned merger between True and DTAC on October 12th. Trairat Viriyasirikul, acting secretary-general of the NBTC, said today (Friday) that his duty is to collect all relevant information pertaining to the proposed merger for submission to the board
Oil palm farmers in Thailand’s southern provinces are complaining that the prices they are getting for their crops have nosedived to an average of five baht per kilogram, which they claim is below their costs, given the high price of fertiliser. The average 5 baht/kg is not, however, as low as the about 3.11 baht/kg
The Thai government’s ambitious plan, announced about seven years ago, to transform some north-eastern provinces bordering the Lao PDR, into economic development zones has not been realised. So far, not a single investor has shown keen interest in the projects in Nong Khai, Mukdahan, Nakhon Phanom or Bueng Kan provinces. For the project in Nong
Over 900,000 teachers, or 80% of all teachers in Thailand, owe a combined total of about 1.4 trillion baht, with teacher savings cooperatives being the biggest creditors, accounting for 890 billion baht. The second largest creditor is the Government Savings Bank (GSB), accounting for 349 billion baht of the amount owed by the teachers. Deputy
The Thai Supreme Court Division for Tax Cases has upheld the Appeals Court order for Toyota Motors (Thailand) to pay about 10 billion baht in customs duties and fees for the import of parts for the assembly of Toyota Prius hybrid cars in Thailand between 2010 and 2012. The court ruled that the parts, which
