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☆ New Blow for Thai Election Winners as Lawyer Launches Dissolution Bid
▼ + stars: | 2024-02-01 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

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

☆ Thai economy in 'crisis' prime minister says, pledges more stimulus
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: +1 min

Thailand's Prime Minister Srettha Thavisin attends a session of the ASEAN-Japan Commemorative Summit Meeting at the Hotel Okura Tokyo in Tokyo on December 17, 2023. (Photo by Kazuhiro NOGI / POOL / AFP) (Photo by KAZUHIRO NOGI/POOL/AFP via Getty Images)Thai Prime Minister Srettha Thavisin said on Wednesday he believes the country's economy is in crisis, adding the government would roll out stimulus measures in addition to handouts to boost growth. "I confirm that the economy is not doing well and is in crisis," he told reporters, adding it was fine if the central bank disagreed with him. Srettha's comments come after the central bank governor told Reuters on Tuesday that government stimulus measures would not fix structural issues plaguing Southeast Asia's second-biggest economy. The government this week slashed 2024's growth projections to 2.8% from an earlier forecast of 3.2% on weaker exports and foreign tourist arrivals.

Persons: Srettha Thavisin, Kazuhiro, KAZUHIRO Organizations: Thailand's, ASEAN, Japan, Getty Images, Thai, Reuters Locations: Tokyo

☆ Thailand, Hong Kong launch cross-border QR payments
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: 1 min

[1/2] A woman wears a protective face mask as she looks at her mobile phone amid the outbreak of the coronavirus disease (COVID-19), in Bangkok, Thailand September 30, 2020. REUTERS/Soe Zeya Tun/File Photo Acquire Licensing RightsBANGKOK, Dec 4 (Reuters) - Thailand's central bank and the Hong Kong Monetary Authority on Monday launched a link for cross-border QR payments, they said in a joint statement. "Through this linkage, travellers from Thailand and Hong Kong will be able to make retail payments by using their mobile payment applications," they said. Reporting by Chayut SetboonsarngOur Standards: The Thomson Reuters Trust Principles.

Persons: Soe Zeya, Chayut Organizations: REUTERS, Rights, Hong Kong Monetary Authority, Monday, Thomson Locations: Bangkok, Thailand, Rights BANGKOK, Hong Kong

☆ Southeast Asia is on the cusp of a 'supercharged' digital payments revolution, PwC says
▼ + stars: | 2023-11-29 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

Widespread mobile ownership, together with rapid digitalization after the pandemic, helped spur the expansion of digital financial services in Southeast Asia, said PwC. PwC"This enhanced availability and convenience of digital payments will see the bulk of the regional population leveraging mainstream digital financial products, such as e-wallets, further expediting the expansion of financial services," said PwC. watch now"Consumers are adopting digital financial services at a rapid pace. Cash is no longer king, as digital payments now make up more than 50% of the region's transactions," a recent Google, Temasek and Bain & Company report wrote. "In some regions such as Southeast Asia, [digital payments via e-wallets] are already more common than physical card payments and set to dominate point-of-sale [systems] overall," wrote Dan Jones and Alex Walker of OliverWyman.

Persons: PwC, hawkers, —, Cash, Dan Jones, Alex Walker of OliverWyman Organizations: Banking, Getty, Careem, Mercado Libre, Temasek, Bain & Company Locations: China, East Asia, Shanghai, Banking Asia, Asia, Southeast Asia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Brunei, Laos, Cambodia, Paytm, India, AliPay, Latin America

☆ Thai Foreign Minister Weeps, Welcomes Hamas Release of Thai Workers
▼ + stars: | 2023-11-29 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

Another two Thai workers were set free on Tuesday, bringing the total released to 19. He said they remain in contact with him and send him updates about the release of hostages even before the news breaks. The Thai foreign ministry said three Thais were being treated for wounds in hospital. On Monday, a Thai Muslim group that spoke directly with Hamas said its efforts were key to ensuring that Thai hostages were among the first to be released in Gaza during a temporary truce with Israeli forces. Israel says Hamas killed 1,200 people and took about 240 hostages back to Gaza on Oct. 7.

Persons: Parnpree Bahiddha, Nukara, Thais, Parnpree, Lerpong Syed, Israel, Juarawee Kittisilpa, Howard Goller, Sandra Maler Organizations: Reuters, Thai Foreign, Shamir Medical Center, Hamas, Iran Locations: Kittisilpa TEL AVIV, Israel, Thailand, Palestinian, Gaza, Thai, Thailand's

While emerging market and Asian equities clocked up decent gains on Tuesday, Wall Street struggled to make much headway despite a seemingly constructive market and economic backdrop. The dollar, Treasury yields, and stock market volatility all fell, and U.S. consumer confidence was higher than expected. Fed Governor Christopher Waller - thought to be close to Fed Chair Jerome Powell's thinking on policy - also signaled that U.S. interest rates could be cut in the months ahead. Thailand's central bank is also expected to keep rates on hold, at 2.50%, through the middle of 2025. Here are key developments that could provide more direction to markets on Wednesday:- New Zealand interest rate decision- Thailand interest rate decision- Australia inflationBy Jamie McGeever Editing byOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Christopher Waller, Jerome Powell's, That's, Michele Bullock, Jamie McGeever Organizations: U.S, REUTERS, Wall, Treasury, Fed, Nasdaq, Reserve Bank of New, New Zealand, Reserve Bank of Australia, Thomson, Reuters Locations: Tokyo, Japan, New Zealand, Thailand, Australia, U.S, Thailand's, Zealand

☆ Thailand to allow clubs, bars to stay open longer to boost tourism
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

Entertainment venues, clubs and karaoke bars in Bangkok, Phuket, Pattya, Chiang Mai and Samui, popular tourist destinations, will be allowed stay open two extra hours until 4 AM, Traisulee Traisaranakul said. The decision to allow entertainment venues to stay open longer is the latest step taken by the government to boost foreign arrivals after the government in September waived visa requirements for Chinese visitors, a key source of tourists for Southeast Asia's second-biggest economy. Thailand has so far welcomed 24.5 million foreign tourists this year and is forecasting 28 million arrivals for the full year. Before the pandemic, Thailand booked a record 39.9 million arrivals, with 11 million from China. This year, the government expects just 3.5 million arrivals from China.

Persons: Chalinee, Chiang Mai, Traisulee Traisaranakul, Srettha Thavisin, Paarat Thepgumpanat, Kanupriya Kapoor Organizations: REUTERS, Rights, Entertainment, Thailand's, Southeast Asia's, Thomson Locations: Thai, Bangkok, Thailand, Rights BANGKOK, Phuket, Pattya, Southeast, China

☆ Thailand to lower 2023 growth forecast after weak Q3
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: 1 min

BANGKOK, Nov 27 (Reuters) - Thailand's previous 2023 economic growth forecast of 2.7% will be lowered after a weaker-than-expected third quarter, Deputy Finance Minister Krisada Chinavicharana said on Monday. Southeast Asia's second-largest economy expanded much slower than expected, at 1.5%, in the July-September quarter from a year earlier, the slowest this year, due to declining exports and government spending. For next year, while the ministry is aiming for economic growth of slightly higher than 3%, it will try to push for even more with upcoming government stimulus measures, he told reporters. The finance ministry's current forecasts are for 2.7% economic growth in 2023 and 3.2% growth in 2024. Reporting by Kitiphong Thaichreon; Writing by Orathai Sriring; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

Persons: Krisada Chinavicharana, Kitiphong Thaichreon, Orathai Sriring, Kanupriya Kapoor Organizations: Thomson Locations: BANGKOK

☆ Biden hopes for extension of Israel-Hamas truce as more hostages released
▼ + stars: | 2023-11-27 | by ( James Mackenzie | ) www.reuters.com time to read: +5 min

Thirty-nine teenage Palestinian prisoners were released by Israel on Sunday, taking the total since the truce began to 117. The four-day truce agreed last week is the first halt in fighting in the seven weeks since Hamas killed 1,200 people and took about 240 hostages back into Gaza. Some 14,800 Palestinians have been killed, Gaza health authorities say, and hundreds of thousands displaced. The latest three Thai hostages released were in good health, Thailand's prime minister said. Hamas released 24 hostages on Friday, the first day of the truce.

Persons: Joe Biden, Biden, Abigail Edan, Abigail, Carmel Edan, he's, Benjamin Netanyahu, Netanyahu, Omar Abdullah Al Hajj, he'd, Thais, Sunday's, Israel, gaunt, children's agency's James Elder, Elder, Raphael Satter, Diane Craft, Raju Gopalakrishnan Organizations: Sunday, International Committee, Red Cross, Reuters, Ministry of Foreign Affairs, Saturday, Palestinian, West Bank, Thomson Locations: Israel, Gaza, U.S, Ramallah, Qatar, Egypt, United States, Palestinian, Gaza's, Qatari, Gaza City

"The released hostages are on their way to hospitals in Israel, where they will re-unite with their families," the Israel Defense Forces (IDF) said in a statement. Israel released 39 Palestinians - six women and 33 minors - from two prisons, the Palestinian news agency WAFA said. Saturday's swap follows the previous day's initial release of 13 Israeli hostages, including children and the elderly, by Hamas in return for the release of 39 Palestinian women and young people from Israeli prisons. On Friday Hamas also released a Philippine national and 10 Thai farm workers. Israel has said the ceasefire could be extended if Hamas continued to release at least 10 hostages a day.

Persons: Israel, WAFA, Srettha Thavisin, Thais, Thongkoon Onkaew, Natthaporn Onkaew, Joe Biden, Sheikh Tamim bin Hamad Al, Osama Hamdan, Majed Al, Ansari, Maya Regev, Emily Hand, Hila Rotem, Emily, Raya Rotem, Shorouk Dwayyat, Emily Rose, Bassam Masoud, James Mackenzie, Maayan Lubell, Emma Farge, Aidan Lewis, Adam Makary, Nidal, Moaz Abd, Ali Sawafta, Sybille de La Hamaide, Jeff Mason, Humeyra Pamuk, Leslie Adler, Clarence Fernandez, William Mallard Organizations: Sunday, International Committee, Israel Defense Forces, West Bank, Hamas, Reuters, Brigades, IDF, United Nations, CNN, Al, Thomson Locations: Israel Egypt, Qatar, West Bank GAZA, JERUSALEM, Israel, Gaza, Egypt, Palestinian, Rafah, Al, Bireh, Ramallah, Philippine, U.S, Sheikh Tamim bin Hamad Al Thani, Al Jazeera, Nantucket , Massachusetts

☆ 'That's My Son!' Thai Family Overjoyed as Second Group of Hostages Freed
▼ + stars: | 2023-11-25 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

By Napat Wesshasartar and Chayut SetboonsarngBANGKOK (Reuters) -The mother of a Thai hostage freed from Gaza late on Saturday said she was indescribably happy her son was among the four most recent Thai nationals confirmed as freed from Hamas captivity. A first group of 10 Thai hostages were on freed Friday along with 13 Israelis, in return 39 Palestinians from Israel's prisons. More than 30,000 Thai nationals work in Israel, mostly as farm workers, making up one of the largest migrant worker groups in the country. Thailand's foreign ministry estimated 18 Thai nationals remained captive after Israel told it the number abducted had increased by two from the previous tally. "The Thai government will continue to make every effort towards the safe release and return of those remaining Thai nationals," the ministry said in a statement.

Persons: Napat Wesshasartar, Thongkoon Onkaew, Srettha Thavisin, Thongkoon, Poppy McPherson, William Mallard Organizations: Reuters, Sunday, Thai Locations: Chayut, BANGKOK, Gaza, Thai, Palestinian, Israel

☆ Thailand says 20 of its nationals still held by Hamas after 10 freed
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +1 min

Thai workers taken hostage by Hamas and later released as part of a deal between Israel and Palestinian Islamist group Hamas, pose with a member of Thai mission after a medical checkup, in Tel Aviv, Israel, in this handout image released on November 25, 2023. Ministry Of Foreign Affairs Thailand/Handout via REUTERS Acquire Licensing RightsBANGKOK, Nov 25 (Reuters) - Twenty Thai nationals were still being held by Hamas after the Palestinian militant group freed 10, Thailand's foreign ministry said on Saturday. The Thai hostages freed from Gaza in Friday's exchange of hostages held by Hamas and Palestinians from Israeli jails would return home after 48 hours in hospital, the ministry said in a statement. The released Thai hostages included one woman, according to photos released by the ministry, which showed them dressed in green jackets and with doctors at a medical centre in Israel. Reporting by Poppy McPherson; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Thais, Poppy McPherson, William Mallard Organizations: Hamas, Foreign Affairs, REUTERS Acquire, Rights, International Committee, Thomson Locations: Israel, Palestinian, Tel Aviv, Foreign Affairs Thailand, Rights BANGKOK, Gaza, Friday's, Egypt, Qatar, Iran, Malaysia

☆ Iran says it facilitated Friday's release of 10 Thai hostages
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, Nov 25 (Reuters) - Iran facilitated Friday's release of 10 Thai hostages from Gaza, providing a list of names to Palestinian group Hamas after a request to do so by Thailand's Foreign Ministry and parliamentary speaker, Iran's embassy in Thailand said on social media on Saturday. A Thai foreign ministry spokesperson told Reuters that: "we have provided lists since the beginning to everyone," including Qatar, Egypt, Israel and Iran. A group of Thai Muslim politicians had travelled to Tehran and met senior Hamas officials in October. Thailand's Foreign Minister Parnpree Bahiddha-nukara also held talks with senior officials in Cairo and Doha over the release of Thai hostages. About 30,000 Thai nationals work in Israel, forming one of its largest groups of migrant workers, many in agriculture.

Persons: Parnpree Bahiddha, nukara, Thailand's, Chayut Setboonsarng, Poppy Mcpherson, Mark Potter Organizations: Hamas, Thailand's Foreign Ministry, Reuters, Thailand's, Thomson Locations: BANGKOK, Iran, Gaza, Thailand, Qatar, Egypt, Israel, Thai, Tehran, Cairo, Doha

☆ 'I'm not dead,' Thai hostage says after 'miracle' release in Gaza
▼ + stars: | 2023-11-25 | by ( Chayut Setboonsarng | ) www.reuters.com time to read: +3 min

"He told me not to cry, to tell mother I’m coming back," Roongarun Wichagern told Reuters of her younger brother after an emotional reunion on a video call. "He said, ‘I’m not dead, I’m not dead,’" Roongarun said, calling his survival a "miracle". The freed Thai hostages will return home after 48 hours in hospital, Thailand’s foreign ministry said in a statement. He called for the release of the remaining "innocent Thai hostages as soon as possible". Photographs from the Thai foreign ministry showed them meeting doctors at a medical centre in Israel.

Persons: I’m, Roongarun Wichagern, ‘ I’m, Roongarun, Srettha Thavisin, Vetoon, Thais, Thongkoon Onkaew, Natthaporn, Chayut Setboonsarng, Napat Wesshasartar, Poppy McPherson, William Mallard Organizations: Hamas, Foreign Affairs, REUTERS Acquire, Rights, Reuters, Shamir Medical, Ministry of Foreign Affairs, Thai, International Committee, Thomson Locations: Israel, Palestinian, Tel Aviv, Foreign Affairs Thailand, Rights BANGKOK, Thai, Gaza, Thailand, Egypt, Qatar, Iran, Malaysia

Thai Foreign Minister Parnpree Bahiddha-Nukara wrote online that he was “overjoyed.”He had traveled more than three weeks ago to Egypt and Qatar to seek their help in obtaining the hostages’ freedom. “It is our deep hope that all remaining hostages will be taken care of, and will be safely released at the earliest opportunity,” the Thai Foreign Ministry said. The spokesman for the Qatari foreign ministry, Majed al-Ansari, posted on X that the number was 10. Prof. Hagai Levine, head of the medical team at the Hostages and Missing Persons Families Forum, said that getting medical information about the Thai hostages' pre-existing conditions has been trickier than with released Israelis. According to Thailand's foreign ministry, 39 were killed in the Oct. 7 attacks, and 26 abducted.

Persons: Parnpree Bahiddha, Nukara, ”, Thais, Srettha Thavisin, Majed al, Ansari, farmhands, Hagai Levine, Ratana, “, Parnpree Organizations: Thai, International Committee, Thai Foreign Ministry, Qatari, Shamir, Center, Facebook, Hamas, Government, Trade, Labor Ministry Locations: Egypt, Qatar, Thailand, Israel, Iran, Malaysia, Thai, Udon Thani, Tehran, Persia

☆ BREAKING: 25 hostages have been released by Hamas, the first since a four-day truce was called
▼ + stars: | 2023-11-24 | by ( William Edwards | Joshua Zitser | ) www.businessinsider.com time to read: +1 min

25 hostages were released to Eygpt, the first release since a 4-day cease-fire was called. The released hostages include 12 Thai citizens and 13 other women and children. AdvertisementTwenty-five hostages were released by Hamas on Friday, the latest sign that the conflict between Israel and the militant group is cooling. The deal for the 12 Thai hostages was brokered by the Egyptian government, the country's media office said on Friday. According to the Israeli government's press office, 12 Thai hostages are in Israel now.

Persons: —, Srettha Thavisin Organizations: Service, Thailand's Locations: Israel, Assaf

☆ Thailand Says 20 of Its Nationals Still Held by Hamas After 10 Freed
▼ + stars: | 2023-11-24 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

BANGKOK (Reuters) - Twenty Thai nationals were still being held by Hamas after the Palestinian militant group freed 10, Thailand's foreign ministry said on Saturday. The Thai hostages freed from Gaza in Friday's exchange of hostages held by Hamas and Palestinians from Israeli jails would return home after 48 hours in hospital, the ministry said in a statement. The released Thai hostages included one woman, according to photos released by the ministry, which showed them dressed in green jackets and with doctors at a medical centre in Israel. Earlier reports said around 12 Thais had been released. The ministry thanked the governments of Qatar, Israel, Egypt, Iran and Malaysia, and the International Committee of the Red Cross, "as well as others involved in the immense efforts that led to this recent release".

Persons: Thais, Poppy McPherson, William Mallard Organizations: International Committee Locations: BANGKOK, Palestinian, Gaza, Friday's, Israel, Egypt, Qatar, Iran, Malaysia

☆ Thailand's economy is slowing, and it could mean trouble
▼ + stars: | 2023-11-21 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

Thailand's economy grew at its slowest pace in almost a year in the third quarter, and analysts say the trend is here to stay. Thailand's gross domestic product grew 1.5% year-on-year for the quarter ending September, official data on Monday showed. That's far below expectations of 2.4% by economists polled by Reuters, and lower than the 1.8% expansion in the second quarter. The reading marked the second straight quarter of easing growth in Thailand's economy. After months of political deadlock and stock market volatility, Srettha Thavisin was elected Thailand's prime minister in late September, amid expectations from economists that long-term economic recovery could prove challenging.

Persons: Chua Han Teng, Thavisin Organizations: Reuters, DBS Bank

Nov 20 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. China's latest interest rate decision will be the main focus for Asian markets on Monday, with investors also eyeing third-quarter GDP from Thailand, and trade figures from Malaysia and Taiwan. On Monday, the People's Bank of China is widely expected to leave lending benchmark rates unchanged. All 26 market watchers in a Reuters poll expect the one-year and five-year loan prime rates to be held steady at 3.45% and 4.20%, respectively. It is why Beijing's policy decisions are so important: as long as the interest rate spread remains heavily against the Chinese yuan, these outflows will likely persist.

Persons: Jamie McGeever, Goldman Sachs, Diane Craft Organizations: U.S, Treasury, Japan's Nikkei, Equity, People's Bank of, Reserve Bank of Australia, Bank Indonesia, Bank of, Thomson, Reuters Locations: Thailand, Malaysia, Taiwan, Asia, Japan, People's Bank of China, Bangkok, Bank of Japan, China

☆ Thais to Be Among Hostages Freed by Hamas if Gaza Truce Agreed, Thai-Muslim Politicians Say
▼ + stars: | 2023-11-16 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

BANGKOK (Reuters) - Thai-Muslim politicians said on Thursday they had received assurances from the Palestinian group Hamas that all the Thai hostages being held would be among those released if mediators succeed in brokering a truce in Gaza. The Islamist militants took some 240 people hostage on Oct.7, when they rampaged through southern Israel killing 1,200 people, according to Israel. Thailand's Foreign Ministry says 25 Thais were among those abducted and 39 were among those killed that day. "Any ceasefire either 3 days or 5 days ... Hamas will release hostages, including all Thais being held, which they promised," Lepong Syed, the president of the Thai-Iran alumni association, told reporters in Bangkok's parliament building. Lepong is part of a team formed by Thai-Muslim politicians, headed by House Speaker, Wan Muhamad Noor Matha, that has been in contact with the Hamas since October.

Persons: Thais, Lepong Syed, Wan, Chayut Setboonsarng, Panarat Thepgumpanat, Simon Cameron, Moore Organizations: Hamas, Thailand's, Ministry, House Speaker, Reuters Locations: BANGKOK, Gaza, Israel, Thai, Iran

☆ Thais to be among hostages freed by Hamas if Gaza truce agreed, Thai-Muslim politicians say
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

BANGKOK, Nov 16 (Reuters) - Thai-Muslim politicians said on Thursday they had received assurances from the Palestinian group Hamas that all the Thai hostages being held would be among those released if mediators succeed in brokering a truce in Gaza. The Islamist militants took some 240 people hostage on Oct.7, when they rampaged through southern Israel killing 1,200 people, according to Israel. Thailand's Foreign Ministry says 25 Thais were among those abducted and 39 were among those killed that day. "Any ceasefire either 3 days or 5 days ... Hamas will release hostages, including all Thais being held, which they promised," Lepong Syed, the president of the Thai-Iran alumni association, told reporters in Bangkok's parliament building. Lepong is part of a team formed by Thai-Muslim politicians, headed by House Speaker, Wan Muhamad Noor Matha, that has been in contact with the Hamas since October.

☆ Benko's Signa unit seeks $2.2 bln funding amid property crisis - Bloomberg News
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Peter Nicholls Acquire Licensing RightsNov 15 (Reuters) - Property tycoon Rene Benko-founded Signa Group's Prime unit has approached investors to seek up to 2 billion euros ($2.17 billion) in funding, Bloomberg News reported on Wednesday, citing people familiar with the matter. Signa Prime, which co-owns the Selfridges department store in London, requires 500 million euros to meet obligations this year alone and will need another 1.5 billion euros of cash in the first half of 2024, the report said. Some of the investors have turned down the request, while others are still in the early stages of assessing it, according to Bloomberg News. Thailand's largest department store owner, Central Group, on Tuesday took control of Selfridges department stores after the real estate company brought it in a deal worth $5 billion in 2021. The funding request comes as Signa faces a property crisis in Europe exacerbated by a sharp rise in rates and building costs.

Persons: Peter Nicholls, Rene Benko, Signa, Arndt Geiwitz, Angela Christy M, Devika Organizations: REUTERS, Bloomberg, Bloomberg News, Central, Thomson Locations: Oxford, London, Britain, Austria, Europe

Prime Minister Srettha Thavisin's signature 500 billion baht ($13.87 billion) stimulus policy has faced criticism over fears it could stoke inflation and adversely impact the fiscal position of Southeast Asia's second-largest economy. Thailand's economy grew just 1.8% year-on-year in the second quarter, sharply slowing from the previous quarter, hit by weak exports that undercut a recovery in its crucial tourism sector. But some analysts are sceptical, as are some opposition lawmakers who have attacked the ruling Pheu Thai party for risking breaching Thailand's fiscal regulations. "We expect Thailand's fiscal outlook to remain uncertain for the rest of this year," said Tim Leelahaphan, an economist at Standard Chartered Bank in Thailand. "Also, the Pheu Thai-led government's ability to implement its pledged economic policies including the handout scheme has yet to be assessed, adding to fiscal uncertainty."

Persons: Lertsuridej, Srettha Thavisin, Devjyot, Srettha, Prommin, Tim Leelahaphan, Martin Petty Organizations: Reuters, Government House, REUTERS, Rights, stoke, Standard Chartered Bank, Thomson Locations: Bangkok, Thailand, Rights BANGKOK

☆ Thailand drops joint patrols with Chinese police after public backlash
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jorge Silva/File Photo Acquire Licensing RightsBANGKOK, Nov 14 (Reuters) - Thailand rolled back on Tuesday plans of joint patrols with Chinese police in popular tourist spots after public backlash. Tourism officials on Sunday floated the idea of having Chinese and Thai police patrol much-visited areas to build confidence among tourists, including Chinese nationals. "There are many alternative ways to build confidence for tourists in Thailand ... but we will not have joint patrols," Tourism Minister Sudawan Wangsuphakijkosol told reporters on Tuesday. "The Thai police force is already adequate and are working hard to restore confidence," Sudawan said. Restoring confidence is critical for Thailand's tourism industry, especially among Chinese visitors.

Persons: Helen Yi, Jorge Silva, Sudawan Wangsuphakijkosol, Sudawan, Chayut Setboonsarng, Tomasz Janowski Organizations: REUTERS, Rights, Tourism, Sunday, Thomson Locations: Taiwan, Siam, Bangkok, Thailand, Rights BANGKOK

☆ Thailand, Toyota to jointly develop domestic EV industry
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

A Toyota Logo is seen at a Toyota dealership in Zaventem, Belgium, November 25, 2022. REUTERS/Johanna Geron/File Photo Acquire Licensing RightsBANGKOK, Nov 9 (Reuters) - Thailand will work with Toyota Motor Corp (7203.T) in developing the country's electric vehicle (EV) industry, Prime Minister Srettha Thavisin said after a meeting with the automakers' executives. "Toyota said it sees the potential of Thailand's auto manufacturing industry especially in pick-up trucks and eco-cars," the government said in a statement on Thursday. The announcement comes as Toyota plans to trial its first EV pick-up truck in Thailand in a fresh attempt to boost EV sales in the country where it faces rising competition from Chinese rivals. For decades, the world's 10th largest auto hub has been dominated by Japanese firms like Toyota Motor and Honda Motor Co (7267.T), which use Thailand as a major export base.

Persons: Johanna Geron, Srettha Thavisin, Panarat Thepgumpanat, Kanupriya Kapoor Organizations: Toyota, REUTERS, Rights, Toyota Motor Corp, Honda Motor, EV, Thomson Locations: Zaventem, Belgium, Rights BANGKOK, Thailand, Southeast Asia

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