Thailand warms to China’s ventures The Chinese government is ready to enable an expansion of investments in Thailand and connect its Guangdong-Hong Kong-Macau Greater Bay Area (GBA) with the Thai government’s flagship Eastern Economic Corridor (EEC), Chinese Foreign Minister Wang Yi pledged on Thursday. The GBA is a megalopolis, also known as the Pearl River…
Thai Beverage begins B1bn expansion Thai Beverage, the Singapore-listed Asean food and beverage company, is expanding its food business in the domestic market, vowing to splash about 1 billion baht on its food empire in fiscal 2021, starting from Oct 1. Nongnuch Buranasetkul, the company’s senior vice-president and chief of food business, said the company…
TLAA wants OIC to widen insurers’ investment options The Thai Life Assurance Association (TLAA) has requested the Office of the Insurance Commission (OIC) study the feasibility of allowing insurers to invest in a wider range of funds and bonds to take advantage of the low-interest-rate environment. The move would green-light investment in infrastructure bonds, non-listed…
Mr ‘Phuket Seasted’ is back with his Crypto Cruise Ship From the man who was chased away from the Phuket offshore ‘Seasted’ by the Royal Thai Navy, along with his Thai girlfriend, the very same Chad Elwartowski is now launching a Crypto Cruise Ship. The company he was representing at the time, Ocean Builders, is…
AMLO is investigating four Thai banks’ alleged role in suspicious transactions Thailand’s Anti-Money Laundering Office (AMLO) is verifying a report, by the International Consortium of Investigative Journalists (ICIJ), stating that four Thai banks have been involved in suspicious financial transactions over nearly two decades. The ICIJ’s report refers to files leaked from the Financial Crimes…
Thai Air Asia returns to Suvarnabhumi in addition to its Don Mueang hub Thai AirAsia is spreading its Bangkok wings and opening up a secondary hub at the main Suvarnabhumi airport (BKK), to help broaden its attraction and bolster its bottomline. Thai Air Asia was the first airline to head back to the moth-balled Don…
Thailand’s first cancer medicine factory expected to cut drug costs in half The government just sealed the deal to build Thailand’s first factory to produce cancer-treating medicine and chemicals, a move that is expected to cut treatment drug costs in half. Buying imported cancer-treating drugs is expensive. Thailand spends about 21 billion baht per year…
Air Asia seeks to mitigate economic losses with launch of “super app” Air Asia is introducing a super app, in an attempt to off-set – at least partially – the significant financial losses brought about by the Covid-19 pandemic. The app will offer users a variety of options, including digital payment services, delivery services, and…
BoT sees slower recovery in 2021 Thailand’s economic recovery is expected to take longer than previously anticipated, mainly due to the drastic decline in foreign tourist numbers, says the Bank of Thailand. The central bank slashed its GDP growth forecast for 2021 from 5% to 3.6% as the pandemic continues to hamper international travel. The…
Thai hotels concerned extra holidays may not benefit all As the Cabinet confirms two additional long weekends in November and December, the country’s hotels are concerned that not all operators will benefit. The extra holidays, running from November 19 to 22, and from December 10-13, are being introduced to further boost domestic tourism. Although they…