Siam Commercial Bank's Economic Intelligence Center has trimmed its 2025 GDP forecast to 1.9%, citing exhausted government measures and the absence of a new economic driver. The bank presented its analysis at a Wealth Community event examining global and Thai economic outlooks for the second half of 2025.

SCB EIC forecasts global economic growth of 2.5% in 2025, supported by artificial intelligence infrastructure investment and strong electronics demand. The U.S. Federal Reserve is expected to hold interest rates at 3.50–3.75% throughout the year, while the European Central Bank may raise rates once more in September, and the Bank of Japan is likely to maintain rates at 1%.

Thailand's economy is projected to expand 2% in 2025, bolstered by government measures, exports, and private investment. However, growth will follow a pronounced K-shaped pattern, with large businesses and technology-linked sectors such as AI, data centers, electronics, and digital infrastructure capturing most gains. These sectors rely heavily on imports, limiting broader spillover effects on domestic supply chains, employment, and incomes. Household income has declined for the first time in six years, purchasing power remains weak, credit access is tight, and labor markets are increasingly fragile. The Bank of Thailand is expected to hold policy rates steady throughout 2025 to balance inflation pressures against incomplete economic recovery.

Punyawat Srisaiyanond, senior economist at SCB EIC, highlighted ongoing geopolitical risks from military conflicts and trade wars as critical factors affecting energy prices, production costs, supply chains, and global financial volatility. The Middle East remains highly uncertain, with crude oil shipments through the Strait of Hormuz still below half pre-war levels, signaling sluggish recovery after fresh fighting erupted. Oil prices are expected to decline gradually in the third and fourth quarters but may not return to pre-war averages in the near term, keeping energy and transport costs as drags on the economy.

Trade tensions remain a source of uncertainty, though their impact on global commerce has proven less severe than anticipated. Asian trade continues expanding, as the region serves as a critical manufacturing base for technology products and AI supply chains, with strong U.S. import demand for these goods even as other imports slow. China's exports to the United States have contracted, but it has offset this by expanding sales within Southeast Asia.

SCB EIC forecasts global growth of 2.5% in 2025, edging up slightly to 2.6% in 2026 compared to 2.8% in 2024. Investment tied to artificial intelligence and electronics demand will remain the primary drivers, anchoring the global economy amid war-related pressures and tight financial conditions.

Israeli key suspect and his wife deny wrongdoing after arrest on nominee networkLegacyAn Israeli property developer and his wife were arrested following an investigation into 20 Israeli nationals who allegedly used Thai nominees to conceal their ownership of land, property and restricted businesses on Koh Samui. The Samui Provincial Court reportedly issued 20 arrest warrants for Israeli nationals after investigators found that Thai people were named as shareholders to conceal foreign ownership and allow businesses restricted under Thai law to operate. Israeli nationals were reportedly the largest group of foreigners targeted in the operation, according to a report by Phuket Hotnews. Police from Bo Phut Police Station and Surat Thani Immigration arrested 45 year old Israeli property developer Gal Bieber and his wife, Roni Bieber, who were described as key suspects in the investigation. Photo by bloodua via Getty Images Investigators reportedly found that Bieber’s network used a complex corporate structure involving Thai nationals as shareholders. The companies were allegedly used to acquire, develop and rent luxury properties on Koh Samui, with many of the properties targeting Israeli customers. The investigation also alleges that the network operated businesses without the required permissions, including an international school and luxury pool villas. Police are continuing to investigate the group’s financial transactions and other people allegedly involved in the network. Officials are also working to seize and freeze assets connected to the investigation. Roni denied the accusations in an interview with The Jerusalem Post, saying that she and her husband operated their businesses based on guidance from local professionals. Photo by bloodua via Getty Images She said the couple intended to comply with Thai laws and requirements and maintained that all shareholders, including Thai nationals, participated in the business activities. Roni also accused a Thai lawyer and accountant of leading her and her husband into legal difficulties. “We respect Thai law and the authorities. All our actions were accompanied by a Thai lawyer and accountant who told us how to do everything and accompanied us when the companies were opened, and the businesses were established. “We placed our full trust in them and did as they instructed, but when the law changed, they disappeared and took no responsibility, and because they are Thai, they are free from law enforcement,” Roni said. The Jerusalem Post reported that Gal and Roni were released on bail while the investigation into the alleged nominee scheme continues. Photo by Sarah Lou via Flickr Related news

Israeli man held for illegal business, land ownership on Koh Pha Ngan 4 travel agencies on Koh Samui found operating through Thai nominees Israeli national arrested for nominee-run travel agency in Phuket

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The Sirivannavari brand has unveiled the official ceremonial uniforms for Thai athletes at the 20th Asian Games 2026, scheduled for September 19 to October 4, 2026 in Nagoya, Japan. Under the concept "The Art of Unity," the designs highlight Thai identity through contemporary fashion while celebrating the traditional indigo-dyed cotton weaving craftsmanship of Don Koy village and textile heritage promoted by the Queen Sirikit Institute of Sericulture and Handicrafts. The uniforms represent over 900 Thai athletes and staff who will represent the country at the continental competition.

The launch event, held at the Fairmont Sukhumvit 20 hotel in Bangkok on August 21, featured Thai athletes including badminton player Peeraphan Korthong, taekwondo athlete Balanuk Thapthimdaeng, volleyball player Pimpichaya Korkram, and table tennis player Suthasinee Sawatrabut, alongside legendary taekwondo champion Panipak Wongpattanakit. The ceremonial uniforms were designed by Princess Sirivannavari Nariratana, creative director of the Sirivannavari brand, who sought to blend Thai craftsmanship values with modern design aesthetics.

Ratirote Julchat, executive vice president of Sirivannavari, stated that the uniforms represent an opportunity to showcase Thai fashion and identity to the world through the Thai athletic delegation on Asia's stage. The brand deliberately selected hand-woven indigo-dyed cotton from Don Koy village in Sakon Nakhon province and textiles from the Queen Sirikit Institute to underscore the dedication, refinement, and patience inherent in Thai handicrafts—qualities that mirror the discipline and determination required of competitive athletes.

In a historic first for over a century, the Po Tek Tung Foundation held its 2569 annual Tipping the Lanterns ceremony at the White Jade Thai Hong Shrine, a sacred Buddhist site on grounds dating back 120 years (Don Temple Cemetery), to distribute 3,000 packages of essentials to the poor across six Bangkok districts.

On August 21, 2569, the Po Tek Tung Foundation, led by Vice Chairman Wichit Chinvongwrrakul and Secretary Sirikul Obbhasvongse along with board members and assistants, held a ceremony to launch a convoy of 3,000 aid packages. The packages contained rice, instant noodles, canned fish, fish sauce, cooking oil, snacks, and donated clothing from the White Jade Thai Hong Shrine, commemorating the 72nd anniversary, in Sathorn District. These items were distributed to the poor in six Bangkok districts: Sathorn, Talad Noi, Thawi Watthana, Nong Chok, Minburi, and Rat Burana.

Bangkok Governor Associate Professor Dr. Chadchart Sittipunt presided over the ceremony, joined by dignitaries including Dr. Saowanee Tetchapaiboon, wife of the foundation's chairman, and foundation volunteers led by honorary volunteers Siriporn Obbhasvongse and Sirikul Obbhasvongse, specialist volunteer Narit Withayavrakorn, and artists Duangtaa Tungkamani and Chalermpon Tikhumporttheeravongse.

The previous day, August 20, 2569, the foundation board, including Chairman Wichien Tetchapaiboon, Vice Chairman Suthat Tetchaviboon, and Vice Chairman Sak Korsamrenrueng, along with other officials, held a candle-lighting ceremony to officially open the Tipping the Lanterns event. Chinese Buddhist monks from Bodhi Man Khunarama Temple conducted merit-making ceremonies, including rituals for the earth spirits, Tai Sifu deities, cemetery veneration, merit offerings to hungry spirits, and water dedication of merits.

The 2569 edition marked a historic year as devotees venerated one of Thailand's largest White Jade Thai Hong statues and participated in the Tipping the Lanterns tradition to dedicate merit to nameless spirits at the shrine, a 120-year-old public cemetery managed by the Po Tek Tung Foundation. The foundation resolved to increase the number of aid packages this year beyond previous years to meet rising demand and living costs, reducing household expenses for the poor and expanding distribution to both Bangkok and other provinces. On August 16, 2569, the foundation had already distributed essentials at its cemetery grounds.

Thanachart Insurance is helping flood-affected customers with free vehicle towing services and round-the-clock claims processing. Heavy monsoon rains and flash flooding have struck northern and northeastern Thailand, particularly Nan Province, affecting areas including Pua and Tha Wang Pha districts and low-lying areas in Mueang Nan. Thanachart Insurance extends its concern to affected customers and the public, and has prepared assistance measures to enable swift access to services and help minimize property damage.

The insurer has mobilized support covering both auto and home insurance. Customers can request assistance and advice around the clock through Contact Center at 1519 or via the Thanachart Insurance LINE Official Account (@thanachartinsure).

For voluntary auto insurance customers in at-risk areas, the company provides free vehicle towing to move cars to safe zones and coordinates with affiliated repair shops for appropriate care. The firm has also arranged temporary parking facilities through partner repair shops in Nan and nearby provinces, with capacity for over 400 vehicles across Nan and Phrae provinces. Capacity may change based on demand, so customers should contact repair shops beforehand to check availability and plan transport safely.

Auto insurance customers whose vehicles have already suffered flood damage can file claims directly through the Thanachart Insurance LINE account or by calling Contact Center at 1519.

For home and residential insurance customers affected by flooding, claims can be filed and damage photos submitted through the "Report Home Insurance Flood Claim" menu on the Thanachart Insurance LINE account, or by calling 1519. The company will arrange damage assessment once conditions are safe and suitable.

Thanachart Insurance recommends customers photograph or video damage to homes and belongings before moving items or cleaning, prepare a list of damaged property, and keep receipts or purchase evidence for claim consideration. Flood coverage depends on the policy type and protection terms chosen. Customers can inquire about their policy details through the contact channels above.

Vichini Rorpun, Chief Executive Officer of Thanachart Insurance Public Company Limited, stated that the most important priority at this time is the safety of customers and their families.