Economy

Alibaba to invest 11 billion baht in Thailand

Alibaba to invest 11 billion baht in Thailand

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Chinese e-commerce giant Alibaba Group has committed to invest a combined 11 billion baht in Thailand in a move that PM Prayut Chan-o-cha says could benefit the country’s small farmers and rural enterprises due to the firm’s expertise in diverse technology. “Jack Ma (Alibaba’s co-founder and executive chairman) told me […]

Songkran spending projected to hit B132bn

Songkran spending projected to hit B132bn

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BANGKOK: Robust economic growth and a fervor for Thai tradition have led to estimates that over B132 billion will circulate this Songkran holiday, the highest figure in 13 years. Director of the Center for Economic and Business Forecasting at the University of the Thai Chamber of Commerce, Thanawat Polwichai, reported […]

Warning issued over household debt

Warning issued over household debt

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BANGKOK: Siam Commercial Bank (SCB) research house the Economic Intelligence Center (EIC) has raised a warning flag about a potential re-acceleration in household debt after the household debt-to-GDP ratio at the end of 2017 edged up for the first time in two years. The centre needs to monitor household debt […]

Phuket among most expensive in base wage rate increase

Phuket among most expensive in base wage rate increase

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PHUKET: New minimum wage rates came into effect last Sunday (April 1), with Phuket among the three most expensive provinces in the country to hire base-wage workers. Under the new wage rates, the minimum wage in Phuket shifted from B308 to B330 per day. The Federation of Thai SMEs Association […]

Confidence riding high – Thai economy continues to surpass forecasts

Confidence riding high – Thai economy continues to surpass forecasts

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Confidence is riding high according to the Joint Standing Committee on Commerce, Industry and Banking. They report that the private sector remains confident about Thailand’s economic growth of 4.5% being maintained as exports and tourism continue to rise. But the Committee warns that the private sector is being spooked by […]

Thailand welcomed 3.5mn foreigners in Jan

Thailand welcomed 3.5mn foreigners in Jan

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BANGKOK: A total of 3.5 million foreign tourists visited Thailand in January 2018, generating more than B180 billion in tourism revenue, reports the Ministry of Tourism and Sports (MoTS). MoTS Permanent Secretary Pongpanu Svetarundra yesterday (Feb 23) revealed that of the 3.54mn foreign visitors, 2.14mn came from East Asia, more […]

New President of the Federation of Phuket Industries announced at AGM

New President of the Federation of Phuket Industries announced at AGM

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PHUKET: The new President of the Federation of Phuket Industries was announced yesterday (Feb 20) at the Phuket Provincial Industry Office’s Annual General Meeting held at the Pearl Hotel in Phuket Town. The selection of the new President was made by vote and Chernporn Karnjanasaya was selected over a further […]

Chinese New Year slated to deliver B15.9bn boost for tourism

Chinese New Year slated to deliver B15.9bn boost for tourism

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BANGKOK: Just over 300,000 Chinese tourists will visit Thailand to celebrate Chinese New Year, the Thailand’s Ministry of Tourism and Sports announced this week. Basing its estimates on flights and booking trends, February 15-21, the ministry said 888,472 foreigners would visit the country of which 304,192 would be Chinese tourists, […]

Property boom – firms acquire land worth nearly 100 billion baht

Property boom – firms acquire land worth nearly 100 billion baht

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Twelve listed property firms have announced investment budgets worth between 98.04 and 99.04 billion baht to acquire land to develop residential projects worth between 385.15 billion and 385.64 billion baht during 2018, according to a survey by The Nation. Over half of the investment budget from the firms will come […]

Phuket industry chiefs say minimum wage hike impact negligible

Phuket industry chiefs say minimum wage hike impact negligible

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PHUKET: Leading figures in key Phuket industries have played down the impact of the impending rise in the minimum wage, which is expected to be approved by Cabinet imminently and brought into effect in April. The national wage committee with the authority to approve minimum daily wage hikes agreed last […]