Thailand Live Monday 26 Sep 2011

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MARKETS

SEC warns against panic selling

By The Nation

The Securities and Exchange Commission today assured investors of the financial stability of all players in the capital market, in light of the sharp plummets in the stock and futures exchanges.

"The nosedives in the SET index, gold and silver prices are in line with global levels. The SEC has closely monitored the situation and would like to assure all of the stability of the trading, settlement and delivery system as well as the financial stability of facilities like the depository centre, securities companies, mutual fund comapnies and futures brokerage houses," SEC Deputy Secretary-General Chalee Chantanayingyong said in a statement.

He urged investors to thoroughly consider all information. "They should not be panic, as the country's economy is on the growth track while listed companies are financially strong".

Aside from the midday loss of over 7 per cent in the stock market, the futuers exchange also suffered from volatility.

Thailand Futures Exchange temporarily suspended trading of all silver futures again today, the second time this month.

The first halt took place on Sept 23, following the sharp fall in silver.

Execution prices of the futures decreased by 10 per cent from the latest settlement price due to falling global commodities and silver prices. The 10 per cent fall triggered the circuit breaker.

At 9.45am today, the circuit breaker was turned on again. The market resumed at 10.15am, when the daily price limit of all silver futures is expanded to 20 per cent (plus or minus) of the latest settlement price.

Silver prices have plummetted along with gold prices, which are traded much below US$1,920 peak level. As the world is heading towards a gloomier direction, global investors are now inclined to hold on dollar assets rather than risk assets including commodities.

-- The Nation 2011-09-26

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Phuket Town cable burying on hold for Vegetarian Festival

Follow this link: http://www.thaivisa.com/forum/topic/501070-phuket-town-cable-burying-on-hold-for-vegetarian-festival/

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Nakhon Panom Court hands down 4 month, 5 day jail term and fine of Bt6,000-20,000 for dog smuggling gang/TAN_Network

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Gold prices now down by Bt1,100 with gold bar selling at Bt23,300 and being purchased at Bt23,200 /TAN_Network

SET ends midday break down by 74.93 points at 883.23 on concerns about US and European econ crisis /TAN_Network

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Jail terms for dog smugglers

By The Nation

Follow this link: http://www.thaivisa.com/forum/topic/501074-jail-terms-for-dog-smugglers/

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Drug eradication in the south proven to be effective

BANGKOK, 26 September 2011 (NNT)-Fourth Army Region Chief Lt General Udomchai Thammasarotrat said drug eradication operation in the South of Thailand in the past two months had been proven to be effective with the number of abusers and dealers reduced by 40%.

Under the so called ‘581 operation’, 8 important steps had been taken to get everyone involved in the process. Authorities and residents have been working alongside which has helped make the mission easier to achieve result and reduce the workload for authorities.

The authorities now had access to the suspects as 615 villages and mosques had joined the operation. The officers working under the 581 operation show respect to Muslims when they are doing their job.

They also get involved on a community level particularly with the teenagers who are prone to joining the extremist groups. The Fourth Region Army Chief added that the operation would be more intense in a bid to stamp out drug addiction problems in communities in the South.

-- NNT 2011-09-26

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Numerous flood victims have not recieved help at all

BANGKOK, 26 September 2011 (NNT)-Senator Pichit Sunthornpipit said there were numerous flood victims who did not get help at all since their homes had been flooded.

After visiting residents affected by floods in Phitsanulok and Sukhothati provinces, the senator raised the issue and commented that the provincial authority should have had all the information and be aware of the situation so nobody got left behind in the rescue effort.

Menawhile, Sakon Nakhon senator Mr. Pradit Tanwattanawong said more efforts from related agency that was responsible for all historical places should be executed as some of the world heritage sites in Thailand had been damaged by floods.

-- NNT 2011-09-26

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Price Fall Sets Off Gold Rush

People are flocking to buy gold after gold prices have gone down continuously while gold shops caution that the fall might be caused by price manipulation.

Gold Traders Association President Jitti Tangsithpakdi observed that gold prices will continue to be volatile as a result of speculation by foreign funds.

Jitti cautioned gold investors to be careful as the fall might have been caused by price speculation so a further drop is likely.

He believes the decline in the gold prices was a result of the strengthening US dollar and the weakening Thai baht, which are abnormal.

Gold investors are also being asked to keep a close watch on the prices as they could change at least ten times a day.

Those who made purchases at gold shops today said they expected the price to go up to as high as 27,000 baht per 15.2 grams due to the concern about the US economic crisis.

-- Tan Network 2011-09-26

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Chinatown Bustling on Vegetarian Festival

The Vegetarian Festival has enlivened Bangkok's Chinatown despite the fact that vegetarian food prices have gone up due to the shortage of vegetable.

The Yaowaraj Chinatown is crowded with shoppers looking for vegetarian foods on the first day of the Vegetarian Festival.

Vegetarian food vendors said retail prices of foods and raw materials have gone up since vegetable farms have been affected by the ongoing floods.

The price of tofu has been rising from 10 baht to 12 baht while vegetable prices have been increasing, such as cabbage which went up from 20 to 30 baht per kilogram and chinese broccoli from five to 20 baht per kilogram.

Shoppers have complained about the higher prices but said they will still eat vegetarian foods for the next nine days for health benefits.

The Vegetarian Festival starts today and ends on October 5.

Vendors are hoping the government will resolve the flood crisis in order to boost vegetable supply to meet the rising demand.

-- Tan Network 2011-09-26

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SET index closed at 904.06, down 54.10; Bt/USD31.03; GBP47.94; AUD30.16; EUR41.64; CAD29.97; HKD3.97; SGD23.71; JPY40.35

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Chiang Mai Residents Brace for More Floods

Authorities have advised locals in many villages in Fang District in Chiang Mai to watch out for possible flash floods.

Provincial authorities have advised locals in Pong Nam Ron Subdistrict in Fang District of Chiang Mai to relocate to shelters provided on higher grounds.

This follows an announcement by officials from the Doi Pahom Pok National Park on continuing heavy downpours, which may cause flash floods by triggering run-offs from streams.

Meanwhile, flood victims living near Jai stream have been stranded after a bridge connecting their village to the outside world was damaged by flood torrents.

They are also running short of drinking water as all wells remain flooded.

Officials from many units are speeding up renovation efforts in Piengkok Village in Pong Nam Ron Subdistrict, which has been seriously damaged by flash floods and mudslides.

They are setting up knockdown homes as shelters and constructing a bridge to link damaged roads.

Villagers are rotating to monitor the situation and watch out for possible flash floods that could happen again following the warning from national park officials.

-- Tan Network 2011-09-26

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Minister Sees Chance to Bring Back Two Jailed Thais

The justice minister says the repatriation of two Thai activists jailed in Cambodia can be carried out via the two countries' inmate transfer agreement.

Justice Minister Pracha Promnok stated the move can proceed once the two Thais, Weera Somkwamkid and Ratree Pipattanapaiboon, who have been found guilty by a Cambodian Court of espionage, petition to be repatriated to Thailand to serve the rest of their jail terms in a Thai prison.

The minister said their repatriation is under a Thai-Cambodian agreement on the transfer of convicts found guilty in criminal cases and is not a prisoner exchange treaty.

Pracha stated a convict transfer must be endorsed by three parties, namely the country seeking the transfer, its Foreign Ministry and the country where the petitioner is imprisoned.

He said both Thailand and Cambodia must set up a panel to consider the transfer.

Pracha stated the Thai panel will consist of the permanent secretary for the Justice Ministry and its staff.

The minister stated Thailand has never sought the transfer of Thai inmates from Cambodia before, but the latter has petitioned for the repatriation of its four citizens in Thai prison for narcotic cases.

Two have already been sent back.

Pracha detailed Weera and Ratree must submit their petitions with the Thai Foreign Ministry through the Thai Embassy in Cambodia and it will be then forwarded to the Justice Ministry.

However, Pracha stated the inmate transfer with Cambodia requires the petitioner not to be found guilty of violating security laws inside and outside the signatory countries.

Currently, there are 39 Thai inmates in Cambodian prisons while Thai prisons hold roughly 2,200 Cambodian nationals.

-- Tan Network 2011-09-26

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Prachinburi plans to make flood-hit areas tourist attractions

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'Monk' hash mule nabbed at Phuket Airport

A customs officer displays the hash haul as Mr Hise sits in

the background. Photo: Warisa Temram

Mr Hise was carrying eight kilograms of hash in his suitcase,

customs officials said. Photo: Warisa Temram

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Thai Police seize Bt70 million in illegal drugs

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Procession routes for Phuket Vegetarian Festival

Young devotees prepare for the nine-day Phuket Vegetarian Festival.

Photo: Christian Mouchet/file

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FDA raids vegetarian food factory in Suksawat area, Bangkok; meat DNA found in products seized worth Bt1 million.

Phuket Vegetarian Festival unofficially starts at sunset. /MCOT

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Bell helicopter with 7 on board, including Provincial Police Region 3 commander, makes emergency landing in Ubon Ratchathani during illegal logging bust duty/MCOT

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HM grants audience to Yingluck

HM the King Bhumibol Adulyadej granted an audience to Prime Minister Yingluck Shinawatra Monday evening to listen to updates about the country’s situation including government’s response to ongoing floods

The meeting took place at the Siriraj Hospital.

To date, the disaster has already caused 158 deaths and left three people missing. Now, flooding has still raged on in 23 provinces upsetting the lives of 1.92 million people

-- The Nation 2011-09-26

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to continue:

Thailand Live Tuesday 27 Sep 2011

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