Search Results for: middle east conflict
- Economy News
Economic resilience in question: Thailand’s situation amid Middle East conflicts
Sethaput Suthiwartnarueput, the governor of the Bank of Thailand, addressed a business seminar today, emphasising the need for Thailand to bolster its economic resilience to secure sustainable growth. He warned that economic stability should not be taken for granted, particularly considering the potential high-risk side effects that conflict in the Middle East could pose. Thailand, the second-largest economy in Southeast…
- Business News
Thai therapists popularity in the Middle East bolsters remittances amid conflict
Overseas Thai workers are in the limelight as the conflict in Israel escalates in the region. Over 7,000 Thai individuals are awaiting evacuation, with instances of Thais being kidnapped by militants. Records from the Bank of Thailand reveal that the remittance from these overseas workers in the first three quarters of the current year was around 184 billion baht. Israel and…
- Thailand News
Thailand pledges peace talks to address Myanmar conflict
Thailand’s newly appointed Minister of Foreign Affairs has underscored the country’s commitment to fostering peaceful dialogue to address the conflict in Myanmar. During the Meet the Press#1 event held yesterday, Maris Sangiampongsa shared his foreign policy agenda under the banner Ignite Thailand, Re-ignite Thai Diplomacy. He stressed the significance of maintaining strong relationships with neighbouring countries to bolster Thailand’s stability,…
- Business News
Israel-Iran conflict threatens Thai economy in Q2
The ongoing conflict between Israel and Iran poses a potential threat to the Thai economy in the second quarter. Anticipated challenges include currency depreciation, an increase in oil prices, and a decrease in purchasing power. This comes after the International Monetary Fund reduced its Thai GDP forecast significantly from 4.4% to 2.7% growth, due to a slump in domestic consumption.…
- Business News
Oil prices surge amid Middle East tensions and Russia-Ukraine war
Tensions in the Middle East and ongoing conflicts between Russia and Ukraine have elevated crude oil prices. Notwithstanding the fragile global economic climate, crude oil prices experienced a dip in the first quarter of the year, as the OPEC+ group of producers continued to restrict supply. Near the start of April 2024, the ICE Brent crude oil price has reached…
- Business News
Thai govt plan for energy cost surge amid Israel-Iran conflict
Thailand’s Ministry of Commerce issued directives to state bodies to devise strategies to mitigate potential surges in energy costs in the event of an escalation in the Israel-Iran conflict. The directive follows Iran’s missile and drone assault on Israel, a retaliatory move against Israel’s alleged attack on Iran’s consulate in Damascus earlier this month. This marked the first direct attack…
- Business News
Bitcoin rebounds amid Middle East military escalation uncertainty
Bitcoin, the largest cryptocurrency, recently bounced back from its steepest drop in over a year, marking the beginning of potential volatility across asset markets as investors grapple with the looming prospect of a military escalation in the Middle East. Bitcoin yesterday rose by a maximum of 5.9% and was traded at around US$64,600 as of 11.40am in London. Smaller cryptocurrencies…
- Business News
Red sea conflicts could disrupt global trade, Thai economy at risk
The business world is on high alert as the ongoing conflicts in the Red Sea and the Israel-Hamas war pose potential risks to the global economy. The strategic planning unit of the Commerce Ministry is urging stakeholders to keep a close watch on the situation and its potential implications. The conflicts could bring both direct and indirect negative impacts on…
- Thailand News
Israel pledges support in Thai hostage rescue amid Gaza conflict
Thailand Prime Minister Srettha Thavisin recently shared that Israeli Prime Minister Benjamin Netanyahu has extended his condolences to the Thai nationals who lost their lives during the Gaza conflict. Netanyahu also pledged his full support for the rescue mission for Thai hostages held by Hamas. Prime Minister Srettha revealed this information post his phone conversation with Netanyahu, where he requested…
- Business News
Thai MPI faces contraction amid global conflicts and tourism slump
The Office of Industrial Economics (OIE) anticipates a contraction between 4% to 4.5% in the Thai Manufacturing Production Index (MPI) this year due to less-than-projected tourism growth and geopolitical conflicts impacting the global economy. In contrast, the MPI was projected to shrink by 2.8% to 3.8% in July. The OIE further predicts a contraction of 2.5% to 3% in the…
- Thailand News
Thai hostages in Israel reach 22 amid escalating Gaza conflict
The number of Thai workers held hostage during the recent attack by Hamas on Israel has escalated to 22, according to Prime Minister Srettha Thavisin. The latest confirmation of three additional abductions was disclosed by the Foreign Ministry. The 61 year old prime minister relayed this information while addressing journalists at the Wing 23 air terminal at Udon Thani Airport,…
- Thailand News
Compensation for Thai families with members killed in Israel conflict
Eight deceased Thai workers, who were victims of the attack by Hamas in Israel on October 7, were brought back home this morning, aboard a commercial flight. Upon landing at Suvarnabhumi International Airport in Samut Prakan province, their bodies were transported to their respective hometowns. The commercial flight, El Al Flight LY083, carried the eight verified Thai males from Israel,…
- Business News
Middle East crisis and US inflation trigger 2% fall in Thai stocks
Escalating the Middle East conflicts and persisting high inflation in the US are contributing to a more than 2% fall in Thai stocks. The Stock Exchange of Thailand (SET) is encountering renewed selling pressure, with the index nearing a crucial resistance level of 1,400 points. Concurrently, gold prices have seen a sharp increase, reaching nearly US$1,950 (70,870 baht) per ounce…
- Business News
Israeli-Hamas conflict sparks fears of disruptions in global oil prices
Price fluctuations in global crude oil have surged by 4% following the Israeli-Hamas conflict. This escalation in oil prices has sparked fears, especially among oil companies, as Montri Rawanchaikul, the Chief Executive of PTT Exploration and Production Plc (PTTEP), voiced worries that the conflict may lead to disruptions in petroleum production in the Middle East. Auttapol Rerkpiboon, CEO of PTT…
- Business News
Middle East tensions cause gold rush, prices poised to strike US$1,875
The escalating conflict in the Middle East could drive global gold prices to US$1,875 (67,950 baht) per ounce, as predicted by the Gold Traders Association (GTA). The association’s president, Jitti Tangsithpakdi, pointed out that prices have risen by US$20-30 per ounce since the onset of hostilities between Israel and Hamas militants. Gold prices reached a one-week high of US$1,860 yesterday…
- Politics News
Israel-Hamas conflict stirs concern in Thai business sector over trade disruption
The ongoing Israel-Hamas conflict has stirred unease within Thailand’s business sector, due to worries about its potential impact on Thai-Israeli trade, valued at around 40 billion baht. Sanan Angubolkul, chairman of the Thai Chamber of Commerce, advised Thai businesses to closely monitor the situation and manage any potential risk. Those trading with the Middle East have been particularly urged to…
- World News
Amnesty urges ICC probe into Israel-Gaza Strip conflict war crimes
Amnesty International has reported that war crimes may have been committed during the recent conflict between Israel and Palestinian militants in the Gaza Strip last month. The human rights organisation found that Israeli forces carried out seemingly disproportionate air strikes, resulting in the deaths of Palestinian civilians. Additionally, the report states that indiscriminate rocket fire by the Palestinian Islamic Jihad…
- Thailand video news
Thailand News Today | Crashed China eastern flight possible “intentional nosedive”
Black box data on crashed China Eastern 737 suggests possible “intentional nosedive” Investigators are now examining further if the crash of China Eastern Airlines 737-800 on March 21 was indeed due to “intentional action on the flight deck”. The early reports say that there is, so far, no evidence of a technical malfunction. The Wall Street Journal reported this week…
- World News
Pinktober puts spotlight on breast cancer in Middle East
As cancer rates increase in Middle Eastern countries, various NGOs and charities have joined the annual Pinktober campaign to fight stigma, raise money and highlight the importance of breast cancer education and research. “Among Arabs, cancer is growing at an alarming pace,” according to a 2020 paper by the World Health Organization (WHO). “We estimate that the incidence numbers in…
- World News
Pandemic, climate change and conflict fuel sharp rise in global hunger
World hunger was set to end by 2030 — that was a goal set by United Nations in 2015. After years of progress reducing numbers of undernourished people since 1960, reaching zero hunger by 2030 sounded like an attainable target for the international community. But now, “the fight against hunger is dangerously off track,” the latest Global Hunger Index indicates.…
- World News
Will post-Afghanistan US foreign policy shift focus to Southeast Asia?
The calamity of the US withdrawal from Afghanistan over the past two weeks has drawn scathing rebukes of US foreign policy, while raising serious questions over how the US intends to project power in the future. In Southeast Asia, the US has been working to shore up regional alliances vis a vis China. Last week, US Vice President Kamala Harris…
- World News
Worldwide calls grow for mediation in Ethiopia’s conflict
Hoping to increase pressure on the warring parties to end the conflict in Ethiopia’s Tigray region, dozens of African scholars and activists around the world took the unusual step of publishing an open letter calling for a negotiated peace. “Ethiopia is on the precipice,” the letter reads, after condemning “the fact that the conflict is affecting ever-increasing numbers of civilians,”…
- World News
Friends, enemies, neighbors? The Taliban and the Middle East
A recent editorial in Al-Alam, an Iranian-owned Arabic-language publication, warned people not to trust the Americans the way the Afghan people did. The people of Iraq, Syria, Lebanon, Yemen and Libya “link the fate of their countries and their people with America and believe this will open a new door, through which they will enter into a bright and brilliant…
- World News
Taliban victory: A likely boost for Islamist extremists in the Middle East
While the West is anxiously watching developments after the Taliban’s takeover in Afghanistan, “Islamic State” (IS), al-Qaeda and other terror militias are also observing what is happening with keen interest — to say the least. “We have to expect that not only IS, but also al-Qaeda and other smaller groups in Afghanistan and Pakistan will become stronger,” Guido Steinberg, a…
- World News
Southeast Asia fears militant fallout as Mideast conflict widens
PHUKET MEDIA WATCH – World news selected by Gazette editors for Phuket’s international community Southeast Asia fears militant fallout as Mideast conflict widens Reuters / Phuket Gazette PHUKET: Four gun-wielding rebel fighters sit relaxing on a wall, their faces concealed by scarves and ski masks. All are Indonesians who came to Syria to join the Islamist insurgency, the cameraman says,…
- World News
World News: Israeli-Hamas conflict risks spiralling into all-out war
PHUKET MEDIA WATCH– World news selected by Gazette editors for Phuket’s international community Egypt PM to visit Gaza in support of Hamas against Israel Reuters / Phuket GazettePHUKET: Egypt’s prime minister prepared to visit the Gaza Strip today in an unprecedented display of solidarity with Hamas militants embroiled in a new escalation of conflict with Israel that risks spiraling into…
- World News
World News: Syrian conflict update – Role of France, Russia and Iran
PHUKET MEDIA WATCH– World news compiled by Gazette editors for Phuket’s international community France recognises new Syria opposition Reuters / Phuket GazettePHUKET: France became the first European power to recognize Syria’s new opposition coalition as the sole representative of its people and said yesterday it would look into arming rebels against President Bashar al-Assad once they form a government.Twenty months…
- Business News
Golden stability: Prices hold firm above US$2,300 despite brief dip
With a steady hold above US$2,300 during the early days of May, gold prices remained relatively unchanged, following a brief dip to the lowest level since the start of April. The first half of this year is anticipated to experience intense volatility in prices owing to factors such as the US economic health, global interest rate fluctuations, and the Middle…
- Business News
Thai baht expected to weaken against US dollar
The Thai baht is expected to weaken to an estimated 37.20 baht against the US dollar later this week, due to the continued Middle East tensions, says Kasikorn Research Centre (K-Research). The economic indicators from the US, due for release this week, are also predicted to bolster the dollar’s strength. Monday morning trading saw the Thai currency quoted at 36.97…
- Business News
Gold prices shine on: Traders stay bullish amid recent slump
The trading community’s optimism for gold prices remains undeterred despite a recent slump, attributing potential strength to a possible end to US Federal Reserve interest rate increases and the escalating conflict in the Middle East. On Friday morning, spot gold prices oscillated between US$1,978 and US$1,978 per ounce, marking an increase of US$3.02 or 0.15%. Concurrently, domestic gold bars traded…
