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Phuket’s office of the Ministry of Tourism and Sports (MoTS) has confirmed that the upcoming tourism tax, expected to be implemented early next year, will not impact foreigners who reside or work in Thailand. A MoTS Phuket official clarified that the proposed tax has not yet been presented to the Cabinet for approval. “We should wait for any further information because now the tourist tax has not yet gone to Cabinet, and some things may change once it goes into Cabinet,” the official stated. The official indicated that the tax might be designed similarly to the entry fees approved by the Cabinet early last year. Despite the impending changes, the MoTS Phuket assured that the tax would not apply to foreigners living or working in Thailand. “The tourist tax will depend on the type of visa a traveller holds,” the official explained. Foreigners holding non-immigrant or immigrant visas or those with valid work permits proving employment in Thailand will be exempt from the tax. “This approach ensures that individuals residing or working in the country aren’t subject to the same fees as short-term tourists,” the official added. However, the official advised staying informed about potential future modifications to the policy, reported The Phuket News. “It’s important to stay updated, as future changes or adjustments to the policy may occur,” the official concluded. by Mitch Connor Picture courtesy of AoT Phuket Source: The Thaiger -- 2024-10-28
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Composite images: AMARIN TV The manager of a five-star hotel in Hua Hin has been dismissed following intense public criticism of their response to a customer’s review. The controversy began when a guest posted on social media about a charge for a toothbrush, priced at 20 baht, after staying at the luxury hotel. The guest had written in a Google review, “If you stay here, remember to bring your own toothbrush because the hotel charges 20 baht for one.” In response, the manager left a comment in English, saying, “Now let me explain or educate you a little bit about green hotels; we care for the environment, and this is why we do not put dental kits for free in the rooms.” This response, perceived as condescending, sparked significant backlash, with many questioning the manager’s attitude towards customer service. On 26 October, the hotel issued a public apology on social media, stating, “The hotel deeply regrets the incident and sincerely apologises for the manager’s actions.” They confirmed the manager’s employment contract was immediately terminated, adding, “We respect and value all feedback from our guests and are committed to improving our service. We hope you will allow us the opportunity to provide you with a better experience in the future.” The management of the Hua Hin resort expressed a commitment to maintaining high service standards, emphasising a renewed focus on customer satisfaction. -- 2024-10-28
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Phuket’s new tourism tax won’t affect foreign residents or workers Phuket’s office of the Ministry of Tourism and Sports (MoTS) has confirmed that the upcoming tourism tax, expected to be implemented early next year, will not impact foreigners who reside or work in Thailand. by Mitch Connor Picture courtesy of AoT Phuket Full story: https://aseannow.com/topic/1341856-phuket’s-new-tourism-tax-won’t-affect-foreign-residents-or-workers/
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THAILAND LIVE Thailand Live Saturday 26 October 2024
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Parking altercation at Nonthaburi market, two women stabbed by Nattapong Westwood Image courtesy of KhaoSod A late-night altercation at the Owl Market in Nonthaburi, Thailand, resulted in two women being stabbed over a parking dispute over a barrier fence. The confrontation escalated when concerns about moving a fence to avoid vehicle damage spiralled into violence. Full story: https://aseannow.com/topic/1341762-parking-altercation-at-nonthaburi-market-two-women-stabbed/ -
A late-night altercation at the Owl Market in Nonthaburi, Thailand, resulted in two women being stabbed over a parking dispute over a barrier fence. The confrontation escalated when concerns about moving a fence to avoid vehicle damage spiralled into violence. Police received a report around 1.30am today, October 26, about a woman being stabbed in the car park behind the Owl Market on Nonthaburi Bypass Road. Officers from the Rattanathibet Police Station, along with emergency response volunteers from the Ruamkatanyu Foundation, arrived promptly at the scene. They found 30 year old Sirikanya with stab wounds on her left arm and back, and 31 year old Nusara who had been stabbed in the left shoulder. Both were given initial medical treatment at the scene before being transported to Nonthavej Hospital. The altercation began over a disagreement about a barrier fence. The suspect, 40 year old Jantana claimed she was trying to move the fence slightly to prevent her car from hitting it. This action led to a heated argument, culminating in Jantana allegedly using a knife to defend herself when she felt threatened. Jantana, who sells toys at the market, recounted that she, her husband, and their four year old daughter had been packing up their stall around midnight. Concerned that their car might hit the adjacent stall’s metal barrier, she got out to move the fence. The neighbouring stall owners, who were drinking and chatting, confronted her, questioning why she needed to move the fence. “I just wanted to avoid damaging our car. They started to argue, and I felt threatened. So, I grabbed a knife from the car for protection,” said Jantana. Self-defence She admitted to stabbing Sirikanya and Nusara but insisted it was in self-defence after they began to attack her. Jantana’s husband, 60 year old Jet corroborated her account, explaining that they were simply trying to leave the market. “The other stall owners got agitated and started shouting. My wife just wanted to make sure our car wouldn’t hit the barrier.” A friend of the victims, 31 year old Rungarun, a friend of the victims, said he was discussing sales with a colleague when he heard the commotion. “I heard the argument and went over to see what was happening. I told them they could move out without a problem, but they seemed very upset.” According to Rungarun, the situation escalated quickly. “Jantana went to her car and got a knife. When Sirikanya and Nusara tried to intervene, she stabbed them. It all happened so fast.” Police arrested Jantana at the scene and seized the knife used in the incident. She faces charges of causing bodily harm with a weapon and carrying a knife in a public place without reasonable cause. She was taken to the Rattanathibet Police Station for further questioning, reported KhaoSod. by Nattapong Westwood Image courtesy of KhaoSod Source: The Thaiger -- 2024-10-26
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THAILAND LIVE Thailand Live Saturday 26 October 2024
webfact replied to webfact's topic in Thailand Live
Tropical storm Trami to drench 31 provinces in Thailand today by Nattapong Westwood Image courtesy of KhaoSod A severe tropical storm, Trami, is set to bring heavy rain and potential flooding to 31 provinces across Thailand today, October 26, with 40% of the areas expected to experience significant rainfall. The Meteorological Department has issued a weather forecast, warning of the tropical storm’s impact over the next 24 hours. Full story: https://aseannow.com/topic/1341752-tropical-storm-trami-to-drench-31-provinces-in-thailand-today/ -
A severe tropical storm, Trami, is set to bring heavy rain and potential flooding to 31 provinces across Thailand today, October 26, with 40% of the areas expected to experience significant rainfall. The Meteorological Department has issued a weather forecast, warning of the tropical storm’s impact over the next 24 hours. Strong northwesterly and northeasterly winds are sweeping across the Andaman Sea and upper Thailand, contributing to the adverse weather conditions. The powerful tropical storm Trami is currently situated over the central South China Sea. This weather pattern is causing an increase in rainfall, particularly in the northeastern, central, and eastern regions of the country. For the Andaman Sea and lower Gulf of Thailand, moderate winds and waves are expected, with waves reaching heights of one to two metres. In areas with thunderstorms, wave heights could exceed two metres. Mariners in these regions are urged to navigate carefully and avoid sailing in thunderstorm-prone areas. The northern region will experience cool temperatures in the morning with isolated thunderstorms, particularly in Uttaradit, Phitsanulok, Phetchabun, and Phichit provinces. The lowest temperatures will range between 22 to 25 degrees Celcius (°C), while the highest will be between 33 to 36°C. Northeasterly winds will blow at speeds of 10 to 15 kilometres per hour (km/h). In the northeastern region, expect cool morning weather with scattered thunderstorms and heavy rainfall in Loei, Chaiyaphum, Nakhon Ratchasima, Amnat Charoen, and Ubon Ratchathani. Temperatures will range from 18 to 24°C in the morning and 32 to 34°C during the day. Northeasterly winds will blow at speeds of 10 to 30 km/h. The central region will see scattered thunderstorms with heavy rain in some areas, particularly in Lopburi and Saraburi provinces. Morning temperatures will range from 23 to 25°C, rising to 35 to 36°C during the day. Northwesterly winds will blow at speeds of 10 to 20 km/h. Cool mornings In the eastern region, 40% of the area will experience thunderstorms and heavy rainfall, especially in Nakhon Nayok, Prachinburi, Chachoengsao, Chon Buri, Rayong, Chanthaburi, and Trat provinces. Temperatures will range from 23 to 26°C in the morning and 33 to 35°C during the day. Northwesterly winds will blow at speeds of 15 to 30 km/h, with waves reaching heights of about one metre, and over two metres in areas with thunderstorms. For southern Thailand (eastern coast), 40% of the area will experience thunderstorms, particularly in Surat Thani, Nakhon Si Thammarat, Phatthalung, Songkhla, Yala, Pattani, and Narathiwat provinces. Morning temperatures will range from 22 to 25°C, rising to 33 to 35°C during the day. Northwesterly winds will blow at speeds of 15 to 30 km/h, with waves reaching heights of about one metre, and over two metres in areas with thunderstorms. For areas south of Nakhon Si Thammarat, wind speeds will increase to 15 to 35 km/h, and waves will reach heights of one to two metres, with higher waves in thunderstorm areas. On the western coast of southern Thailand, 60% of the area will experience thunderstorms and heavy rainfall, especially in Phang Nga, Phuket, Krabi, Trang, and Satun provinces. Morning temperatures will range from 24 to 25°C, rising to 31 to 33°C during the day. Northwesterly winds will blow at speeds of 15 to 35 km/h, with waves reaching heights of one to two metres, and over two metres in areas with thunderstorms. Bangkok and its surrounding areas will see thunderstorms in 40% of the area, with temperatures ranging from 23 to 27°C in the morning and 34 to 36°C during the day. Northwesterly winds will blow at speeds of 10 to 20 km/h. by Nattapong Westwood Image courtesy of KhaoSod Source: The Thaiger -- 2024-10-26
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THAILAND LIVE Thailand Live Saturday 26 October 2024
webfact replied to webfact's topic in Thailand Live
Thailand raises retirement age to 65 for all sectors by Mitch Connor Image courtesy of Matichon Thailand’s Labour Ministry is set to extend the retirement age for both private and government sectors to 65 years, aligning it with countries like Singapore and Switzerland, announced Phiphat Ratchakitprakarn. Full story: https://aseannow.com/topic/1341750-thailand-raises-retirement-age-to-65-for-all-sectors/ -
Thailand’s Labour Ministry is set to extend the retirement age for both private and government sectors to 65 years, aligning it with countries like Singapore and Switzerland, announced Phiphat Ratchakitprakarn. Phiphat stated that the decision to increase the retirement age is influenced by significant advancements in health and medical technology, which have improved life expectancy. Additionally, the ministry plans to amend the Social Security Act to include approximately two million migrant workers from Myanmar, Laos, and Cambodia in the social security benefit scheme. Self-employed individuals and workers in specific industries currently excluded from the Social Security system are also to be incorporated under the amended law. This category encompasses taxi drivers, delivery riders, agricultural workers, domestic workers, and street vendors. There is also a proposal to raise fund contributions from both employers and employees by 2% each, with the government contributing an additional 2.5%. This would result in a total contribution increase of 6.25%. Plans are in motion to adjust the wage ceiling and salary cap regularly to keep pace with currency value changes. Phiphat revealed that the ministry is considering converting the Social Security Fund’s largest expense—currently variable medical costs, estimated at 60 billion baht annually, into a fixed cost. By transferring this financial responsibility to an insurance company, the Social Security Office (SSO) could manage floating costs more effectively and improve fund management. The Social Security Fund aims for a return of at least 5% by 2025, an increase from the current 2.3 to 2.4% return in 2023. Achieving this target could extend the fund’s viability by an additional three to four years. Phiphat mentioned that the SSO’s international investments, particularly in the US and European markets, have generated returns of approximately 6 to 7%. Next year, the SSO plans to invest around 65% of its fund in low-risk assets like government bonds and savings, while the remaining 35% will be allocated to higher-risk assets, including domestic and international stocks and real estate. This marks a shift from the current investment ratio of 70/30. Phiphat emphasised the importance of proactive fund management to ensure sustainable growth amidst an ageing population and to secure the fund’s future financial stability. Phiphat warned that failure to take these actions could result in the depletion of the Social Security Fund within the next 30 years, reported Bangkok Post. by Mitch Connor Image courtesy of Matichon Source: The Thaiger -- 2024-10-26
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THAILAND LIVE Thailand Live Saturday 26 October 2024
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Police Crack Down on Youth Racing Motorbikes on Vibhavadi Rangsit Road Picture: Daily News BANGKOK - Thai police arrested 22 youths aged 16 to 20, known for illegal street racing on Vibhavadi Rangsit Road in Bangkok, causing public disturbance and risking safety. Full story: https://aseannow.com/topic/1341747-police-crack-down-on-youth-racing-motorbikes-on-vibhavadi-rangsit-road/ -
Picture: Daily News BANGKOK - Thai police arrested 22 youths aged 16 to 20, known for illegal street racing on Vibhavadi Rangsit Road in Bangkok, causing public disturbance and risking safety. The crackdown, led by Police Major General Surachet Bundit, involved officers from Vibhavadi Rangsit Traffic Control Centre and National Police, targeting modified motorbikes used for high-speed racing. A total of 21 motorbikes were seized in the operation. The arrests followed directives from Police General Kittirat Phunpet, the Police Chief, and Deputy Commissioner Samran Nuamma, focusing on reducing reckless driving and illegal racing. Officers tracked the group’s plans to gather and race modified motorbikes, which did not meet legal standards, on the Vibhavadi Road express lanes. Charges were issued for "reckless driving endangering public safety" and "attempted racing on public roads without formal permission," affecting both drivers and passengers. Picture: Daily News Following the arrests, the 22 individuals were taken to the Dusit District Court and Central Juvenile and Family Court, which ruled 20-day detentions for their actions. Those with prior criminal records, including theft, received an extended 26-day sentence. Authorities also permanently confiscated the motorbikes involved, aiming to prevent future disturbances and improve road safety. The public is urged to report illegal road racing, as police continue efforts to keep major roads safe and accessible for all motorists, reported Daily News. -- 2024-10-26
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THAILAND LIVE Thailand Live Saturday 26 October 2024
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Thailand Anticipates Full Recovery of Indian Tourists This Year File photo courtesy: Elite Visa Thailand is set to welcome a full recovery of Indian tourist arrivals this year, projecting over 2 million visitors and almost 90 billion baht in revenue. The boost is attributed to a visa-free scheme and increased flight availability. Full story: https://aseannow.com/topic/1341745-thailand-anticipates-full-recovery-of-indian-tourists-this-year/ -
Thailand is set to welcome a full recovery of Indian tourist arrivals this year, projecting over 2 million visitors and almost 90 billion baht in revenue. The boost is attributed to a visa-free scheme and increased flight availability. The Tourism Authority of Thailand (TAT) predicts at least 5,000 Indian tourists will visit during the Diwali holiday. Tourism and Sports Minister Sorawong Thiengthong highlighted the importance of India as a key market, emphasising strong cultural and tourism ties between the two nations. By October 20, Indian tourists totalled 1.64 million, making India the third-largest source of visitors after Malaysia and China. In 2019, Thailand saw a record 1.96 million Indian arrivals, generating 80 billion baht. Many Indian visitors have planned weddings in southern Thailand this high season, noted Minister Sorawong. While flight capacity hasn't completely recovered, discussions with the Indian ambassador to Thailand are underway to explore adding more flights. TAT governor Thapanee Kiatphaibool expects Thailand to maintain 5,000 Indian arrivals daily for the rest of the year. Patsee Permvongsenee, TAT's executive director for the Asean, South Asia, and South Pacific regions, stated that visa-free travel has boosted Indian visitor numbers from an average of 4,000 to 5,000 daily, occasionally peaking at 6,000-7,000. However, challenges persist, such as the baht's fluctuating exchange rate and competition from other destinations. To celebrate this renewed interest, "Amazing Thailand Diwali Festival Bangkok 2024" will run from October 28 to November 3 at Khlong Ong Ang, featuring cultural shows, Indian cuisine, and religious events. The area is being promoted as "Little India," with the Tourism and Sports Ministry planning more festivals to attract both Indian and international tourists. As part of "Thailand Grand Tourism and Sports Year," further efforts aim to establish Khlong Ong Ang as a vibrant cultural destination, reported Bangkok Post. File photo courtesy: Elite Visa -- 2024-10-26
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THAILAND LIVE Thailand Live Saturday 26 October 2024
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Thailand’s Winter Expected to Start 29 October, Colder Than Last Year Picture courtesy: Thai Rath Thailand’s Meteorological Department has announced that the 2024 winter season is set to begin on 29 October 2024 and is expected to last until late February 2025. This season is anticipated to be colder than last year, with December 2024 to January 2025 marking the coldest period. Full story: https://aseannow.com/topic/1341744-thailand’s-winter-expected-to-start-29-october-colder-than-last-year/ -
Thailand’s Meteorological Department has announced that the 2024 winter season is set to begin on 29 October 2024 and is expected to last until late February 2025. This season is anticipated to be colder than last year, with December 2024 to January 2025 marking the coldest period. According to Dr. Sukanyaniyawinyacharn, Acting Director-General of the Meteorological Department, the onset of winter is assessed by three factors: a consistent drop in temperatures below 23°C across northern Thailand, a shift to northeast and east winds at lower altitudes, and a gradual decrease in rainfall. This year’s winter season is estimated to start two weeks later than average. Average minimum temperatures in northern Thailand are expected to be between 20-21°C, slightly lower than last year’s 21.6°C. Bangkok may experience lows of 16-18°C, with surrounding areas dipping to 14-16°C. The lowest temperatures, approximately 6-8°C, are anticipated in the mountains and peaks of the North and Northeast regions, where frost is also possible. The southern regions will experience cooler weather in some areas, but heavy rain and strong winds will persist, especially around the Gulf of Thailand. Sea waves in the Gulf may reach 2-3 meters, with occasional highs of 3-5 meters due to low-pressure systems or tropical storms in November and December. Residents are advised to monitor weather updates for any significant changes. Picture courtesy: Thai Rath -- 2024-10-26
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THAILAND LIVE Thailand Live Saturday 26 October 2024
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Fourth-Year Student Arrested with B354M Crystal Meth, Claims Father Left Drugs Picture courtesy: Sanook UDON THANI - A 21-year-old female university student in Udon Thani, Thailand, was arrested after police seized 354 kg of crystal methamphetamine, valued at B354 million, found in her car. Full story: https://aseannow.com/topic/1341742- fourth-year-student-arrested-with-b354m-crystal-meth-claims-father-left-drugs/ -
UDON THANI - A 21-year-old female university student in Udon Thani, Thailand, was arrested after police seized 354 kg of crystal methamphetamine, valued at B354 million, found in her car. The fourth-year student, referred to as "Tong" (alias), broke down in tears, questioning, “Why would my father do this to me?” as she claimed her father had left the drugs with her and had since become unreachable. Authorities from the Udon Thani Border Patrol Police Station acted on a tip-off, surveilling a hotel in the city where they suspected a drug handoff was scheduled. At 6:30 p.m., they observed Tong arriving at the hotel in a white Honda City and subsequently searched her vehicle. Inside, they discovered 12 sacks filled with tea-branded bags containing crystal meth. Tong alleged that her father, a Laotian national, had asked her to store the bags without disclosing their contents. She stated that she was unaware the bags contained illegal drugs, explaining that her father would occasionally send her money but rarely communicated. “He just asked me to keep the items, saying someone else would collect them,” she said. Tong also revealed that her parents separated when she was young, and she was raised by her grandparents. She added that she’d previously helped her father by driving items for him but was unaware of any illegal dealings. The police have detained Tong for further investigation into the larger drug trafficking network involved, reported Sanook. Picture courtesy: Sanook -- 2024-10-26
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THAILAND LIVE Thailand Live Saturday 26 October 2024
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Health Minister Joins in Sending 14-Year-Old Bus Fire Victim Home Picture courtesy: INN News Public Health Minister Somsak Thepsuthin, along with senior officials and medical staff, gathered to support the safe return home of a 14-year-old girl who had been critically injured in a tragic school bus fire. Full story: https://aseannow.com/topic/1341739-health-minister-joins-in-sending-14-year-old-bus-fire-victim-home/ -
Picture courtesy: INN News Public Health Minister Somsak Thepsuthin, along with senior officials and medical staff, gathered to support the safe return home of a 14-year-old girl who had been critically injured in a tragic school bus fire. The incident, involving a study trip bus from Wat Khao Prayasankharam School in Uthai Thani, occurred along Phaholyothin Road and left several students injured, with the girl sustaining particularly severe burns and injuries. She had been receiving intensive care and support for nearly a month at the Queen Sirikit National Institute of Child Health, where staff worked tirelessly to aid her recovery. Somsak, joined by ministry spokesperson Traichada Srithada, Dr. Opas Kankawinpong, the ministry's permanent secretary, Dr. Taweesin Visanuyothin, director-general of the Department of Medical Services, and Dr. Thanin Vejjapinun, deputy director-general, expressed deep gratitude for the dedication of the medical staff. Dr. Akkarat Chanuyanon, director of the Queen Sirikit Institute, commended his team, noting the challenges faced in treating the girl’s injuries and their commitment to her rehabilitation. Minister Somsak used the occasion to highlight the ministry’s dedication to patient welfare, with a special focus on providing comprehensive care and mental health support. During the send-off, Somsak presented the family with a support package, underscoring the importance of sustained healthcare and community aid for families recovering from traumatic events. The ministry also outlined further steps to support schools and communities in fire safety and emergency response, helping prevent similar tragedies. The girl’s family expressed heartfelt gratitude to the medical team and the Ministry of Public Health for their unwavering support during her treatment and recovery, marking a hopeful step forward in her healing journey, reported INN News. -- 2024-10-26
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THAILAND LIVE Thailand Live Saturday 26 October 2024
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Thai Influencer Arrested at Bangkok Airport for Forex Fraud After Fleeing to Indonesia Picture courtesy: Siam Rath On 25 October 2024, Thai authorities at Bangkok’s Don Mueang International Airport arrested renowned influencer and net idol, Ms. Suchata, also known as “Nutty,” along with her mother, Ms. Thaniya. Full story: https://aseannow.com/topic/1341736-thai-influencer-arrested-at-bangkok-airport-for-forex-fraud-after-fleeing-to-indonesia/ -
Picture courtesy: Siam Rath On 25 October 2024, Thai authorities at Bangkok’s Don Mueang International Airport arrested renowned influencer and net idol, Ms. Suchata, also known as “Nutty,” along with her mother, Ms. Thaniya. Both women had been on the run for over two years, evading charges related to a major Forex trading scam. The arrests were led by Deputy Director of the Department of Special Investigation (DSI), Pol. Lt. Col. Wisanu Chimtrakool, in coordination with senior police officials. The two suspects faced charges linked to Case 294/2565 under the 1984 Public Borrowing Fraud Act. They allegedly used the IQ Option app to lure victims into a fraudulent Forex trading scheme, promising returns but failing to deliver payouts or refund investments. The investigation uncovered significant financial losses, with 438 victims and damages amounting to approximately 239 million baht. Indonesian authorities detained the suspects for immigration violations, and the Thai Embassy in Jakarta confirmed their identities. On 25 October, they were deported to Thailand, where DSI officials promptly detained them for further legal proceedings. Police also reported that earlier this year, assets worth around 16.7 million baht from the suspects had been seized, with additional assets frozen. This high-profile case highlights increased cooperation between Thai and Indonesian authorities to bring financial crime suspects to justice. The DSI aims to further investigate to recover more assets for affected victims, reported Siam Rath. -- 2024-10-26
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THAILAND LIVE Thailand Live Saturday 26 October 2024
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Analysts Predict Baht Decline if Trump Wins US Presidency File photo courtesy: Wikipedia Thailand's baht is expected to depreciate further amid continuing capital outflows leading up to the US presidential election next month. Kasikorn Research Centre (K-Research) forecasts that if Republican candidate Donald Trump secures victory, the baht could potentially trade below 34.50 against the dollar. Full story: https://aseannow.com/topic/1341734-analysts-predict-baht-decline-if-trump-wins-us-presidency/ -
File photo courtesy: Wikipedia Thailand's baht is expected to depreciate further amid continuing capital outflows leading up to the US presidential election next month. Kasikorn Research Centre (K-Research) forecasts that if Republican candidate Donald Trump secures victory, the baht could potentially trade below 34.50 against the dollar. The baht recently fell to 33.84 against the dollar, marking its lowest level in over six weeks. This comes as other regional currencies also weakened, impacted by stronger US dollar performance. Kanjana Chockpisansin, K-Research's head of research for banking and financial sectors, explained that outflows from Thailand's stock and bond markets are occurring, bolstered by the dollar's strength due to rising US bond yields. The US Federal Reserve has indicated a gradual interest rate cut, further supporting the dollar. On Wednesday, US 10-year Treasury yields peaked at 4.26%, the highest since late July, fueled by concerns over bond market pressures linked to a contentious November election. "If Mr. Trump wins, the potential increase in government spending or borrowing could complicate US inflation reduction efforts, impacting the Fed's rate cut path," noted Kanjana. Such dynamics bolster the dollar, affecting Asian currencies like the yuan. Despite these factors, K-Research continues to foresee a 0.25% reduction in US rates at each remaining Fed meeting this year, in line with Kasikorn Bank's stance. Meanwhile, Thailand's Monetary Policy Committee (MPC) is likely to hold domestic policy rates at its December meeting following a recent 25-basis-point reduction. "The MPC decisions are more likely to reflect Thailand’s own economic conditions rather than mirroring Fed actions," Kanjana added. Kavee Chukitkasem from Pi Securities observed ongoing fund withdrawals from the Stock Exchange of Thailand (SET) amid election uncertainties and institutional investors viewing the SET's current price-to-earnings ratio as expensive, reported Bangkok Post. "Election uncertainties are steering investors away from riskier assets toward safer holdings like the dollar and gold. Nonetheless, historically, stocks tend to recover post-election, regardless of the outcome," Kavee concluded. -- 2024-10-26
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THAILAND LIVE Thailand Live Saturday 26 October 2024
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Thai Freshman Still in Coma Six Months After Brutal Hazing Incident Picture courtesy: Siam Rath A 19-year-old university freshman in Thailand has been in a coma for six months following a brutal hazing incident in April. The assault took place at a university in Bangkok, where an older student admitted to kicking the victim in the chest during the hazing ritual. Full story: https://aseannow.com/topic/1341732-thai-freshman-still-in-coma-six-months-after-brutal-hazing-incident/ -
THAILAND LIVE Thailand Live Saturday 26 October 2024
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Thai Navy's Submarine Agreement with China Nearing Completion File photo courtesy: GVA Thailand's Defence Minister, Phumtham Wechayachai, announced last night that the Navy's protracted plan to acquire a Chinese-built S26T submarine is expected to be finalised soon. Full story: https://aseannow.com/topic/1341731-thai-navys-submarine-agreement-with-china-nearing-completion/