Thailand Finance & Banking

Google is introducing free websites to help 50,000 small Thai businesses get online over the next 12 months, says Julian Persaud, managing director of Google Southeast Asia.

The Thailand Futures Exchange yesterday kicked off its silver futures trading with 555 contracts in the first two sessions, which is seen an encouraging sign as it also hopes to introduce oil and exchange-rate products later this year.

Asian are expanding their investment in Thailand's property market, both in Bangkok and upcountry, as prices here are still lower than elsewhere in the region and because the Asean Economic Community (ABC) will come into full effect in 2015.

Land prices in Bangkok have surged following the Treasury Department's first review in eight years, with significant increases in Yaowarat, Silom, and Phloenchit roads affecting land taxes.

Property firms are planning to ask the incoming government after next month's election to revise the taxation system related to buying and selling residences and to introduce fixed interest rates for first-home buyers as a long-term policy.

If implemented, the political parties' election campaign promises, and their populist policies in particular.

Securities analysts have a positive view of the Thai stock market after the general election due to growing earnings.

Centara Hotels & Resorts has signed a management contract with Oversee Construction Co Ltd for a new Bangkok property to be called the Centara Watergate Pavillion Hotel.

Rush to launch new projects sends land prices soaring

Noble Development Plc expects to develop three high-rise condominiums in Bangkok's central business district.