Economy

Expert punts for Phuket Free-Trade Zone in Kra Canal push

Expert punts for Phuket Free-Trade Zone in Kra Canal push

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PHUKET: A Free Trade Zone (FTZ) expert has called for Phuket to become the “test bed” for the country to prove the economic viability of a “Free Zone” as part of the support for the Thai government to push ahead with the Kra Isthmus Canal, or now called the “Thai […]

Toys R Us Asia unaffected by US bankruptcy

Toys R Us Asia unaffected by US bankruptcy

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HONG KONG: Toys “R” Us (Asia) Ltd has confirmed its operations across eight countries in the region, including Thailand, are not affected by the company’s financial restructuring in the US, where its founding counterpart has filed for bankruptcy. “Its stores are open for business and offering customers great service and […]

World Bank forecasts rise in GDP growth, recognises importance of ‘Digital Economy’

World Bank forecasts rise in GDP growth, recognises importance of ‘Digital Economy’

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BANGKOK: Economic growth in Thailand is gaining momentum, with global growth and a recovery from severe drought buoying an expansion of GDP by 3.3% in the first quarter and 3.7% in the second quarter of 2017, exceeding market expectations, reports the World Bank. Economic growth for the full year 2017 […]

World Bank upgrades Thailand’s growth projections

World Bank upgrades Thailand’s growth projections

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The Bank predicts the world economy would expand 2.7 per cent this year and 2.9 per for each of the next couple of years, he added. The World Bank on Thursday upgraded its economic growth projections for Thailand to 3.5 per cent from the 3.2 per cent estimated previously. The […]

New TCEB President outlines strategy to boost MICE industry

New TCEB President outlines strategy to boost MICE industry

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BANGKOK: The new President of the Thailand Convention and Exhibition Bureau (TCEB) public organisation, Chiruit Isarangkun Na Ayuthaya, has announced a new strategy to develop the TCEB into the leading organisation for MICE to improve the country’s economy with innovation to create prosperity and distribute income. Mr Chiruit, who was […]

Phuket Lobster Festival to be held next month

Phuket Lobster Festival to be held next month

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PHUKET: The ‘Phuket Lobster Festival’ is to be held from August 1-31 and is expected to generate revenue of 200 million baht for local businesses. Phuket Governor Norraphat Plodthong and Wirachai Pranveerapaibool, Managing Director of Pracharath Rak Samakkee (Social Enterprise) Co Ltd, Phuket, yesterday held a press conference at the […]

Small eateries reeling from labour exodus

Small eateries reeling from labour exodus

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BANGKOK: Thailand’s hotel and restaurant businesses, which employ millions of alien workers, are in a spin over the new labour law endorsed on June 23. The controversial crackdown has forced scores of restaurants to close their doors, and many travel and bus companies to stop hiring illegal workers, many of […]

Foreign tour guides under fire

Foreign tour guides under fire

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BANGKOK: Associations of local tour guide operators nationwide have gathered to oppose the government’s plan to allow foreign tour guides to offer services in the country, saying the policy will result in huge unemployment. A total of 22 associations and clubs of tour guide operators met yesterday (July 9) and […]

Phuket business operators protest migrant labor exodus

Phuket business operators protest migrant labor exodus

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PHUKET: More than 20 business operators and contractors gathered at Phuket Provincial Hall to protest against a newly announced migrant worker labor law yesterday morning. “A new executive decree on foreign workers’ management was launched on June 26, according to which operators who employ illegal foreign laborers may be fined […]

Phuket vendors warned over durian price gouging

Phuket vendors warned over durian price gouging

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PHUKET: Fresh fruit vendors in Phuket have been warned over charging inflated prices of durian as well as other popular fruits in tourism areas, such as pineapples. Phuket Vice Governor Siwaporn Chuasawad levelled the warning at a durian fruit festival last week. “I already know about overpriced durian being charged […]