Bangkok

Another Thai interest rate hike predicted for next year

Published

1 month ago

December 21, 2018

The Thaiger & The Nation

Another Thai interest rate hike predicted for next year | The Thaiger

by Phuwit Limviphuwat and Wichit Chaitrong

We’ve just had one .25 basis point interest rise to the base rate. Now there’s already talk of another in 2019 which will start to affect consumer spending, especially mortgage holders.

Siam Commercial Bank (SCB) and Phatra Securities are predicting that the Bank of Thailand (BOT) is likely to implement a modest interest rate hike again next year.

For the first time in seven years, the BOT lifted the interest rate by 0.25 percent on Wednesday, from 1.5 to 1.75 percent.

“If economic growth remains strong in 2019 and inflation levels are maintained, I believe the BOT will increase interest rates once more in 2019,” BOT senior director Don Nakornthab said.

He was speaking at a panel discussion, “Structure of Thai Stocks: Will They Plummet or Continue to Grow?”, organised by The Nation’s sister newspaper Krungthep Turakij.

The central bank has predicted that Thailand’s GDP will grow by 4 per cent in 2019 with 1 per cent inflation.

Don said one of the key risks in raising the interest rate again in 2019 is its likely impact on inflation. However, he added, general economic growth takes precedence over inflation, and if the former remains strong, the BOT is likely to hike the rate next year, though it is unlikely to do so more than once.

Read the rest of this article HERE.

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Bangkok

Belarusian ‘Anastasia’ will be in Moscow detention another 3 days

Published

1 hour ago

January 20, 2019

The Thaiger

Anastasia Vashukevich, aka. Nastya Rybka, the Belarusian model/sex-educator/Instagramer who spent a year in a Thai jail awaiting last week’s Court case, and was then deported, remains in a Moscow jail as of last night after the presiding judge decided to extend her detention by 72 hours.

She was arrested at Moscow airport on Thursday after being deported from Thailand on Tuesday night. She, and seven others, pleaded guilty last Tuesday for participating in a “sex training course” in Pattaya nearly 12 months ago.

During a hearing yesterday in Moscow, she said she did not want to “in any way compromise aluminum mining magnate, Oleg Deripaska”.

According to Interfax she said in the hearing, ”I have had enough.”

Her lawyer Dmitry Zatsarinsky, told reporters that his young client “has committed no crime” and had “nothing to do with” Deripaska and “still less with US President Donald Trump”.

On Friday her lawyer denounced Anastasia’s arrest, which was made while she was in transit in Moscow after a flight from Thailand on her way to Belarus.

The Belarusian gained notoriety last year when she claimed she had proof of Russian collusion with the Trump Presidential election campaign. She has now had her detention in Moscow extended by three days by a Russian court.

According to Interfax reports, she told the court she denied the accusation of prostitution, telling the court that “I am not guilty of what I am accused.”

She unexpectedly pleaded guilty in a Bangkok court to charges of prostitution relating to last February’s sex training course in Pattaya. The Thai judge suspended the group’s sentences but deported them, effective immediately.

Anastasia had been in custody in Thailand since a police raid in what AFP described as the “sleazy seaside resort of Pattaya” last February.

Anastasia cruising around Phang Nga in 2017 – Instagram

Bangkok

Bangkok smog: Police get out their hoses

Published

3 hours ago

January 20, 2019

The Thaiger & The Nation

Bangkok smog: Police get out their hoses | The Thaiger

by Kornkamon Aksorndech

Traffic police and volunteers sprayed water at four locations in Bangkok this morning in a bid to curb the dust and smog pollution.

Pol Maj General Nithithorn Jintakanon, commander of the Traffic Police Division of the Metropolitan Police Bureau, presided at the dispatch of 150 police officers and volunteers from his headquarters on Vibhavadi-Rangsit Road.

They chose four high-traffic locations and sprayed water in front of the Government Complex on Chaeng Wattana Road, the Din Daeng expressway toll gates and at the Ratchadapisek-Lat Phrao intersection on Lat Phrao Road and a Ramkhamhaeng Road intersection.

#pissinginthewind

SOURCE: The Nation

Bangkok

Club raid in Bangkok. Everyone detained tested positive to drug use.

Published

4 hours ago

January 20, 2019

The Thaiger & The Nation

Club raid in Bangkok. Everyone detained tested positive to drug use. | The Thaiger

PHOTOS: The Nation

Another Bangkok night spot is is being threatened with closure after an early morning raid found it open too late, unlicensed and with patrons stocked up and pumped up with illicit drugs.

A team from the Provincial Administration Department and other officials raided the 56 Arena Music Hall on Charoenrat Road in Bang Kho Laem district, south of the Sathorn district at 2.30am today.

Most of the estimated 800 customers headed straight for the back door when the lights went on but police still detained 114 people on suspicion of illicit drug use. ALL later tested positive for drugs.

200 small sealed plastic bags of crystal methamphetamine, 45 of ketamine and 9 of ecstasy were found scattered around the floor in various locations, including in the toilets.

“Ladies and gentlemen, sorry to interrupt your night, but…”

The Nation reports that detained patrons had to undergo a urine test, resulting in 78 men and 36 women showing signs of taking illegal drugs. Two were under 20, one under 18.

The authorities, under an NCPO decree 22/2558, are now considering shutting the place down for five years.

The owner, whose name has not yet been released, was charged with operating without a licence, selling alcohol beyond legal hours and to persons under 20, advertising alcohol, allowing entry to persons under 20, and allowing drug use on the premises.