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Flying is cheaper in 2024. But not for some destinations
  + stars: | 2024-05-20 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +2 min
Americans traveling this summer have broadly seen prices fall for airline fares, a welcome trend after last year's sticker shock. But airfare remains more expensive in 2024 for some regions and destinations, largely for trips abroad, data shows. Flights to Canada, South America, and the Middle East and Africa regions are also up 6%, 2% and 1%, respectively, from summer 2023, Hopper found. High prices to certain Asian cities impact many American tourists since the continent is their second-most frequented international travel destination, Hopper said. Average fares to Europe, the most popular trip abroad for Americans, are down 8% in summer 2024 versus a year ago, when they were at record highs.
Persons: Hopper Organizations: Finance Locations: Tokyo, Japan, Canada, South America, East, Africa, Europe, Asia, Sakata, Ipoh, Udon Thani, Thailand's, Rio de Janeiro, Brazil, Lima, Peru, Santiago, Chile, Friedrichshafen, Memmingen, Germany, Bratislava, Slovakia
In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTVisitors inspect a Tesla Model Y car during the 40th Thailand International Motor Expo at the Impact Challenger hall in Nonthaburi. A Trump reelection is not even necessary: the Biden administration may introduce 100% tariffs on Chinese EVs next week, according to reporting on Friday. Chinese EV makers, including BYD, have earmarked $1.44 billion in new production facilities in Southeast Asia's second-largest economy. Tesla Thailand recently rolled out a special financing program to spur more sales. Southeast Asia is a growing auto market, and Thailand is already the region's biggest car producer and exporter, with Toyota, Honda, Nissan, Ford, GM and Mercedes-Benz having already embraced Thailand as a regional headquarters.
Persons: Goldstein, Donald Trump, Trump, Biden, There's, Tu Le, Tesla, Le, Steven Dyer, AlixPartners, Frank, Walter Steinmeier Organizations: Tesla, Getty, Auto, Nurphoto, Nikkei, Krungsri Securities, Nikkei Asia, Ford, Toyota, Honda, Nissan, GM, Mercedes, Benz Locations: Thailand, Nonthaburi, U.S, Southeast Asia, Beijing, Detroit, China, Trump, Bangkok, Nonthaburi Province, Nikkei Asia, Southeast Asia's, Shanghai
Thailand's prime minister has called for a ban on recreational cannabis in a major U-turn. Thailand was the first Asian country to decriminalize cannabis for recreational use in 2022. AdvertisementThailand's prime minister wants to ban cannabis just two years after his country decriminalized it for recreational use. AdvertisementThailand was the first Southeast Asian country to legalize medical cannabis in 2018, and the first Asian country to decriminalize recreational cannabis in 2022, according to Forbes. Other countries have legalized or decriminalized cannabis for recreational use in recent years, including Canada, Germany, Mexico, and South Africa.
Persons: Thailand's, Srettha Thavisin, , Thavisin, Anutin Charnvirakul Organizations: Service, country's Ministry of Public Health, Forbes, New York Times, Bloomberg, District of Columbia, Prohibition Partners, Thailand's Center, Addiction Locations: Thailand, Thai, Canada, Germany, Mexico, South Africa
Political pressure won't force the hand of Thailand's central bank in making its interest rate decisions independently, the country's central bank chief told CNBC on Monday. "The proof is in the pudding," Bank of Thailand Governor Sethaput Suthiwartnarueput told CNBC's "Street Signs Asia." Despite the "clamoring" for rate cuts, the BOT didn't act on it "if we weren't operating independently," he added. The BOT kept the key interest rate steady at 2.50% in its latest policy meeting in April. But the central bank has been facing intense pressure from the government to lower rates, including from the country's Prime Minister Srettha Thavisin, Reuters reported.
Persons: Sethaput Suthiwartnarueput, CNBC's, Srettha Thavisin Organizations: CNBC, Bank of Thailand, country's, Reuters
CNN —Myanmar rebels fighting the junta say they have seized the last remaining military base in a key border town, dealing the latest significant blow to the country’s military rulers as they struggle to cling to power. About 200 soldiers abandoned their base in the southeastern town of Myawaddy and have been pushed to the No 2. “Officially we (are in) control of the town Myawaddy since last night,” KNU spokesperson Saw Taw Nee said. Footage also showed Thai military vehicles and troops stationed along the border. CNN has reached out to Myanmar’s military junta for comment.
Persons: Karen, , Saw Taw, Thailand’s Mae Sot, Manan Vatsyayana, , Naw Tee, Aung, Thailand's, Prasarn Saengsirirak, ” Prasarn, Prasarn, Kim Jolliffe, it’s Organizations: CNN, Myanmar, Karen National Union, UN, Reuters, Getty, Karen National Liberation Army, Command, National League for Democracy, Army, Arakan Army Locations: Myawaddy, Myanmar, Thailand, Thailand’s, Tak, Thailand's Mae Sot, AFP, Teetering, Aung San, Kachin, China, Rakhine, Arakan
People commuting to work in the morning cross a pedestrian crossing in Tokyo on February 15, 2024. Asia-Pacific markets mostly fell as of Japan's corporate inflation climbed in March and rate decisions are awaited from New Zealand and Thailand's central banks. South Korea's markets are closed Wednesday, as the country heads to the polls to elect its next parliament. Japan's corporate inflation rate came in at 0.8% for March, its third straight month of increase and in line with expectations from a Reuters poll of economists, while investors also brace for the U.S. consumer price index report later Wednesday.
Locations: Tokyo, Asia, Pacific, New Zealand, South
Bangkok, Thailand CNN —On the surface, Thailand’s annual Songkran festival appears to be just one great big water fight. Pipad Krajaejun, a history lecturer at Bangkok’s Thammasat University, says it’s difficult to pinpoint exactly when the water fights became such a key part of the festival. (We’ll share more on the water fights below.) Some towns limit the water fights to one day, so be sure to check ahead if you’re planning to join the battles. Soe Zeya Tun/ReutersAmong the highlights of the festival is the Maha Songkran Parade, which will happen on April 11.
Persons: Thailand CNN —, that’s, , Songkran, Boonserm Satraphai, Pipad, , Soe Zeya Tun, University’s Pipad, Nam, Chalinee Thirasupa, MBK, Lauren DeCicca, John S Lander, it’s, CNN Travel’s Karla Cripps, she’s Organizations: CNN, Thailand CNN, UNESCO, Heritage, Bangkok’s Thammasat University, CNN Travel, , Thailand’s Tourism Authority, of, Reuters, Central Department, Thai Locations: Bangkok, Thailand, it’s, Chiang Mai, Thailand's, Khao San, Chiang, Old City, Pipad, Chiangmai, Thailand’s, Ratchadamnoen, Lanna, San
Prime Minister of Thailand Srettha Thavisin seen during the Asian World Cup qualifying round, second round, Group C match between Thailand and South Korea at Rajamangala Stadium. Thailand's government is considering drafting a casino bill and if passed by parliament, it would generate more jobs and state revenue and allow for the creation of a mega entertainment project, Prime Minister Srettha Thavisin said on Friday. Casinos are illegal in Thailand and the only gambling allowed is on state-controlled horse races and the lottery, though illicit gambling is commonplace, with underground casinos and soccer betting rife. Southeast Asia's second-largest economy is considering allowing casinos as another means of drawing in investment and tourism, according to a study in parliament that was passed late on Thursday. "We can regulate the grey economy and collect taxes ... We do not want to promote gambling, but would rather supervise it and use the investment to create jobs," Srettha said in a post on X.
Persons: Thavisin, Srettha Thavisin, Srettha Organizations: Rajamangala, Casinos Locations: Thailand, South Korea, Macao, China
KUALA LUMPUR (Reuters) - Malaysia's government has said it would consider extending a $10 billion China-led rail project to its border with Thailand to boost economic ties between the Southeast Asian neighbours. Part of China's Belt and Road Initiative, the 665-kilometre (413-mile), 50.27 billion ringgit ($10.63 billion) railway is on track to connect the east and west coasts of peninsular Malaysia by the end of 2026. Malaysia's Transport Minister Anthony Loke said on Wednesday the government was open to proposals to extend the track to the border with Thailand, for further integration into existing railway networks or future infrastructure developments. Thailand also has plans to invest in a massive land bridge project in the country's south to boost growth and global trade. The bridge would bypass the congested Strait of Malacca, a narrow sea lane between Malaysia and Indonesia.
Persons: Anthony Loke, Loke, Danial Azhar, Panu, Kanupriya Kapoor Organizations: Reuters, Initiative, Malaysia's, Malaysia's Senate, Malaysian, China Communications Construction Co Locations: KUALA LUMPUR, China, Thailand, Malaysia, Malacca, Indonesia, Bangkok
The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Friday, Feb. 16, 2024. Kosuke Okahara/Bloomberg via Getty ImagesAsia-Pacific markets were set to fall Tuesday as the U.S. market took a breather following a rally sparked by optimism over the Federal Reserve's interest rate stance at its latest meeting. "We're coming off of a post-FOMC high," he told CNBC, referring to the U.S. Federal Reserve's Federal Open Market Committee meeting last week. "The market is getting more and more vulnerable to a market decline or a pullback in prices." Investors in Asia also await economic data out of Southeast Asia, including Singapore's manufacturing output and Thailand's trade balance.
Persons: Kosuke Okahara, Sam Stovall Organizations: Tokyo Stock Exchange, Japan Exchange Group Inc, Bloomberg, Getty Images, Federal, CFRA Research, CNBC, U.S, U.S . Federal Locations: Tokyo, Japan, Getty Images Asia, Pacific, U.S, U.S ., Asia, Southeast Asia
Edwin Tong, Singapore's culture minister, told local outlet Mothership on February 28 that the amount of grant given "is not what is being speculated online." As Tong, the Singapore culture minister, told Mothership, the city-state is looking "beyond just the economic impact" of Swiftonimics. Economists estimate that Swift's concerts in Singapore could contribute up to 500 million Singapore dollars, or $372 million, in tourist receipts. AdvertisementIt's a different story for spending on experiences — and it's heightened because Singapore is Swift's only stop in Southeast Asia. Mann said the people who have money to pay for flight tickets, Swift's concert tickets, and a hotel are likely to keep spending at other tourist spots.
Persons: , Taylor Swift, Srettha, Edwin Tong, Swift, it's, Yun Liu, Tong, Kevin Cheong, David Mann, Mann, Coldplay, Si Ying Toh, Cheong, Joey Salceda, Sandiaga Salahuddin Uno Organizations: Service, Business, HSBC, Asia Pacific, Mastercard, Nomura, Philippine Star, Bloomberg, Vegas Locations: Singapore, Southeast Asia, British, Thailand, Bangkok, Indonesia, Sands
Read previewThere's a feud between Singapore and neighboring government officials — and it's all down to Taylor Swift. "Some $3 million in grants were allegedly given by the Singapore government to AEG to host the concert in Singapore. AdvertisementFans of US singer Taylor Swift arrive for the first of the pop star's six sold-out Eras Tour concerts at the National Stadium in Singapore on March 2, 2024. Taylor Swift performs at the National Stadium on March 2, 2024 in Singapore. He claimed he was told the Singapore government offered $2 million to $3 million per show in exchange for exclusivity.
Persons: , Taylor Swift, Joey Salceda, Swift, Salceda, Rosland Rahman, Ashok Kumar, Srettha Thavisin, Angel Zhong Organizations: Service, Business, Philippines, Department of Foreign Affairs, Singapore, AEG, The Straits Times, Getty, GMA Network, Association of South East Asian Nations, Sky News, BBC News, CNA, Finance, RMIT University, Forbes Locations: Singapore, Philippines, Southeast Asia, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Vietnam, Bangkok, Thailand
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a 'big agenda' to bring Thailand's household debt down, HSBC economist saysAris Dacanay, ASEAN economist at the bank, says "when household debt to GDP hits 80%, it starts to become damaging to the economy."
Persons: Aris Dacanay Organizations: HSBC Locations: ASEAN
BANGKOK (Reuters) - Thailand's newly paroled former Prime Minister Thaksin Shinawatra has met with a prosecutor over a royal insult complaint stemming from a 2015 interview, the attorney general's office said on Monday. The meeting relates to a lese majeste case brought against Thaksin in 2016, in which the attorney general's office is now considering new evidence. Violations of the law are punishable by up to 15 years in jail.
Persons: Thaksin Shinawatra, Thaksin Locations: BANGKOK
Thaksin Shinawatra: Ousted Thai PM's Life in Politics
  + stars: | 2024-02-17 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +4 min
BANGKOK (Reuters) - Thailand's controversial billionaire former Prime Minister Thaksin Shinawatra was released on parole on Sunday after serving six months in detention. 1998Thaksin founds the Thai Rak Thai (Thais Love Thais) party. In September, the military launches a coup against Thaksin while he is overseas, citing the need to end the protests. 2011New elections are won in a landslide by another new pro-Thaksin party, Pheu Thai. Thaksin applies for a royal pardon and his eight-year jail term is commuted to a year by the king.
Persons: Thaksin Shinawatra, Thaksin, Love Thais, Thais, Yingluck Shinawatra, Thaksin's, Srettha Thavisin, Nick Macfie, Martin Petty Organizations: Thai Rak Thai, Thaksin, People's Alliance for Democracy, Shin Corporation, Temasek, English Premier League, Manchester City, Power Party, United Front for Democracy, Democrat Party Locations: BANGKOK, Thai, Singapore, Thai Rak Thai, Britain, Bangkok, Thailand
By Napat Wesshasartar and Athit PerawongmethaBANGKOK (Reuters) - Thailand's jailed billionaire former Prime Minister Thaksin Shinawatra was seen early on Sunday in a vehicle leaving a hospital where he has been in detention for the past six months, according to Reuters witnesses. Thaksin, 74, had been scheduled to be released on parole on Sunday, according to Prime Minister Srettha Thavisin. Thailand's best-known and most polarising premier, Thaksin has loomed large over politics for two decades, despite 15 years in self-imposed exile to avoid a jail sentence for abuse of power and conflicts of interest. Thaksin made a dramatic return from exile in August to cheering crowds and was taken to prison to serve an eight-year sentence. (Reporting by Napat Wesshasartar Napat Wesshasartar Athit Perawongmetha and Panarat Thepgumpanat; Writing by Martin Petty; Editing by Nick Zieminski)
Persons: Napat Wesshasartar, Thaksin Shinawatra, Thaksin, Srettha Thavisin, Mercedes van, Paetongtarn Shinawatra, Martin Petty, Nick Zieminski Locations: Athit, BANGKOK
Factbox-Thailand's Polarising Ex-PM Thaksin Shinawatra
  + stars: | 2024-02-17 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +4 min
(Reuters) - Thailand's billionaire former Prime Minister Thaksin Shinawatra was released from detention on Sunday, enjoying freedom in his country for the first time since fleeing into exile nearly 16 years ago to avoid jail. - Thaksin ran several failed businesses with his wife before getting his break in the 1980s leasing computers to the police. In 2010, a court seized $1.4 billion worth of Shinawatra assets, concluding Thaksin had concealed his Shin Corp shareholdings and tailored policy to benefit his business. - Thaksin's sister, Yingluck Shinawatra, was also prime minister and suffered an almost identical fate as him. - Thaksin's youngest daughter, Paetongtarn Shinawatra, 37, is Pheu Thai party leader and eligible to become prime minister.
Persons: Thaksin Shinawatra, Chiang Mai, Thaksin, Yingluck Shinawatra, Paetongtarn Shinawatra, Srettha Thavisin, Martin Petty, Raju Gopalakrishnan Organizations: Reuters, Eastern Kentucky University, Kentucky Fried, Thailand's, Shin Corporation, Shin Corp, English Premier League football, Fulham, Manchester City, Forbes, Thai Rak, Thai Rak Thai, People Power Party, Srettha Locations: Thai, Chiang, Kentucky, Singapore, Thailand, Liverpool, Dubai, Britain, Montenegro, Thai Rak Thai, Thai Rak, Bangkok
BANGKOK (AP) — Two years after Thailand made pot legal, the country appears set to crack down on its freewheeling drug market with a ban on “recreational” use. The Health Minister Chonlanan Srikaew said last week that he had recommended a draft bill to the Cabinet that would ban recreational cannabis use while allowing medical. The party’s stronghold is in the poor Northeast, where it promised farmers cannabis would be a new cash crop. Anutin had promised that cannabis would be allowed only for medical use, but in practice the market was nearly unregulated. But, she said, widespread recreational cannabis has created social problems such as youth drug abuse.
Persons: Chonlanan Srikaew, Anutin Charnvirakul, Anutin, Bhumjaithai —, Kalyapat, Kitty ” Chopaka, ” Rattapon Sanrak, Thailand’s, “ Sellers …, Organizations: Health, Bhumjaithai Party, Narcotics, Health Ministry, Party, ” Cannabis Locations: BANGKOK, Thailand, Asia, Bangkok
BANGKOK (AP) — Asian shares were mixed on Monday, with most regional markets closed for holidays, while U.S. futures edged lower after the S&P 500 ended last week above 5,000. Thailand's SET was up 0.1% and in Jakarta, the benchmark gained 0.6% ahead of an election to be held on Wednesday. With mainland Chinese markets closed for the week for the Lunar New Year, there was a dearth of market moving news. Photos You Should See View All 21 ImagesOn Friday, the S&P 500 rose 0.6%, finishing above 5,000 for the first time, at 5,026.61. Nvidia, Microsoft and Amazon were the three strongest forces lifting the S&P 500 after each rose by at least 1.6%.
Persons: Australia's, SET, ” Stephen Innes, Wall, they’ve, Cloudflare, it’s, Brent Organizations: Federal Reserve, Management, Nasdaq, Dow Jones, Big Tech, Nvidia, Microsoft, Amazon, Bank of America, New York Mercantile Exchange, U.S Locations: BANGKOK, India, Jakarta, United States, Japan, U.S
Japan's benchmark Nikkei 225 rose nearly 0.1% to 36,897.42, slipping back from earlier gains that took it briefly to a 34-year high. In prior months, such a report may have hurt the stock market because of concerns that it would mean a longer wait for cuts to interest rates from the Federal Reserve. The latest set of earnings reports from big U.S. companies also kept the stock market mixed overall. It gave a forecast for expected profit across 2024 that fell short of analysts’. In other trading, benchmark U.S. crude lost 6 cents to $76.16 a barrel in electronic trading on the New York Mercantile Exchange.
Persons: Shinichi Uchida, Australia's, , Ryan Detrick, Ralph Lauren Organizations: TOKYO, Nikkei, Investors, Bank of Japan, SoftBank Group Corp, Nissan, Dow Jones, Nasdaq, Carson Group, Federal Reserve, Walt Disney Co, Arm Holdings, PayPal, Global, New York Community Bancorp, Traders, New York Mercantile Exchange, Brent, U.S . Locations: U.S, Asia, U.K
Indonesian K-Pop Fans Rally for Presidential Candidate Anies
  + stars: | 2024-02-08 | by ( Feb. | At A.M. | ) www.usnews.com   time to read: +2 min
By Tommy Ardiansyah and Ajeng Dinar UlfianaJAKARTA (Reuters) - Indonesian presidential candidate Anies Baswedan's young supporters are borrowing elements from their favourite music genre K-pop to boost his popularity, swapping photocards and light sticks decorated with his face before the Feb. 14 poll. "It all started with a TikTok live that Anies did one day," said Hera Putri Haris, a 22-year-old Anies supporter who was carrying plastic cups and fans plastered with his image. K-pop inspired political rallies have become more common as the South Korean music genre sweeps the globe. K-pop fans rallied in Thailand's anti-government movement in 2020, while K-pop fans in the United States raised funds for the Black Lives Matter movement. Anies' campaign team did not respond to a request for comment but event organiser Muhammad Rasyid Al Kautsar said he believes the cultural phenomenon can help rally supporters.
Persons: Tommy Ardiansyah, Anies, Prabowo Subianto, Ganjar Pranowo, Hera Putri Haris, Muhammad Rasyid Al Kautsar, Stanley Widianto, Kanupriya Kapoor, Miral Organizations: Ulfiana, Defence, Central Java Locations: Ulfiana JAKARTA, Korean, Thailand's, United States
BANGKOK (Reuters) - Thailand's attorney general is considering prosecuting convicted former Thai premier Thaksin Shinawatra over an alleged insult of the powerful monarchy, an official said on Tuesday, just weeks away from his possible release on parole. The lese-majeste law is among the world's strictest, with each perceived offence punishable by up to 15 years in prison. The influential Thaksin, prime minister from 2001-2006, made a dramatic homecoming last August from 15 years in self-imposed exile to serve an eight-year jail sentence for abuse of power, later commuted to one year by the king. Prayut Petchkhun, spokesperson for the attorney-general's office, told reporters the seven-year delay in acting on the royal insults complaint was because Thaksin had been abroad. Thailand current government is backed by the Shinawatra family, with Thaksin's return coinciding with ally and real estate mogul Srettha Thavisin becoming prime minister that same day.
Persons: Thaksin Shinawatra, Thaksin's, Thaksin, Prayut Petchkhun, Prayut, Srettha Thavisin, Panu, Martin Petty Organizations: Thaksin Locations: BANGKOK, Thai, South Korea, Thailand
A Thai Airways flight to Australia was delayed four hours after it diverted due to poor visibility. The passenger then deleted his post, but Thai Airways says it is taking legal action. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThailand's national airline said Thursday it is taking legal action against a passenger who accused it of wrongly diverting his flight. In a Facebook post, Thai Airways said the passenger had shared "damaging words" after the flight had to land at a different airport due to weather conditions.
Persons: Organizations: Thai Airways, Service, Airbus, Business Locations: Australia, Bangkok, Melbourne, Sydney
Moving to Thailand amid pandemic restrictionsBefore the move, the couple had considered buying property in the UK but realized they had limited options due to their budget. Ben/Life in ThailandUltimately, it made more sense for them to move to Thailand for the kind of lifestyle they wanted. Ben/Life in ThailandInstead of destroying his crop, the couple decided to give the farmer a couple of months to harvest. AdvertisementA lower cost of living than in the UKBen says that the cost of living in Thailand is much lower than in the UK. "It really documents not just the house build, but everything that we went through, including the horrendous flooding," Ben said.
Persons: , Ben, Anna, we'd, Thailand There's, We've, It's Organizations: Service, Business, YouTube Locations: Thailand, Cumbria, Nong Bua, Laos, Ben
The constitution states the king is enshrined to be held in a position of "revered worship". The election commission will weigh the merits of the complaint and whether to send it to the Constitutional Court to decide on party dissolution, which could see its executives banned from politics for a decade. Its predecessor, Future Forward, had championed similar policies and was disbanded in 2020 for violating campaign funding rules. "The election commission must take into account (yesterday's) case ... the commission must carry out its duties and cannot remain idle," Ruangkrai told reporters. Move Forward has rejected accusations that it sought to undermine the monarchy and says it wanted to prevent the wrongful use of the royal insults law.
Persons: Ruangkrai Leekitwattana, Ruangkrai, Panarat Thepgumpanat, Chayut Setboonsarng, Panu, Martin Petty Organizations: Thailand's, Party, Constitutional Locations: BANGKOK, Thailand
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