News
Costco sued over claims Thai shrimp harvested with slave labour
Costco Wholesale Corp was sued for selling farmed shrimp from Thailand, where slave labour and human trafficking in the fishing industry are widespread, and allegedly misleading US consumers about it. A California woman, Monica Sud, filed what may be the first such lawsuit against the retailer ...
Thailand’s Mekong water-diversion plan raises concerns
The Thai government’s statement in late July that it is considering bringing water from the Mekong, Moei and Salween rivers to farmland to nine of its provinces has raised major concerns. The water diversion has been described as a move to ‘extract blood from the Mekong’s ...
AIIB awaits Thai approval
Thailand’s investment of 48.68 billion baht in the China-led Asian Infrastructure Investment Bank (AIIB) will seek approval soon from the National Legislative Assembly. Keep reading ...
Tourism an immediate casualty
Business leaders believe the explosion at the Ratchaprasong intersection will hurt tourism but expect the overall negative effect on the economy will be more psychological and short term. Supant Mongkolsuthree, chairman of the Federation of Thai Industries, said tourism would be the sector hit hardest by the horrific ...
23 nations issue Thailand travel advisories
Twenty-three countries by 18 August had issued travel advisories in the wake of the 17 August Erawan shrine bombing, with most advising caution rather than avoiding travel to Thailand. Keep reading ...
S&P: Thailand's ratings unchanged after Bangkok bomb
Standard & Poor’s Ratings Services sees limited immediate impact on the sovereign credit support for Thailand in the wake of the 17 August bombing at Bangkok’s popular Erawan Shrine that killed 20 people and injured another 125. Keep reading ...
UnionPay signs chip card standard license with Thailand
UnionPay International and Thai Bankers Association signed Chip Card Standard License Agreement in Bangkok on 18 August. According to the agreement, the chip card standard of UnionPay will be introduced to local banks as the standard of Thailand’s banking industry. Thailand has become the first overseas ...
Bank of Thailand: Slower growth a regional ill
The Bank of Thailand insists that despite shocks and changes experienced in the macroeconomic environment, the country’s fundamentals remain strong, as reflected in the country’s current account surplus, stable foreign exchange rate and low unemployment. Central bank governor Prasarn Trairatvorakul on 17 August said speeding up infrastructure investment ...
City bomb horror in Bangkok
Central Bangkok descended into chaos on evening of 17 August when a bomb exploded at Ratchaprasong intersection, killing 20 people, including three foreigners, and injuring at least 125. The explosion occurred about 7pm near the Brahmin statue at the Erawan Shrine on the intersection packed with evening rush-hour ...
Importers hedging against baht slump
Local small and medium-sized importers are in a rush to hedge their currency exposure to protect against the rapid weakening of the baht, says TMB Bank. The number of SME customers hedging against foreign exchange risk has increased by 20-30% since the baht began depreciating after ...
