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Economy may be headed for another recession

Legacy Phuket Gazette

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Economy may be headed for another recession | The Thaiger

BANGKOK (AFP): Thailand risks heading into another recession unless monetary policy is eased in the face of a slowing economy, ING Barings said in a report released yesterday. The merchant bank downgraded its growth forecast for 2000 to 4.0 percent from 4.8 percent, a day after official data clipped expected GDP expansion to 4.5 percent from an earlier goal of 5.0 percent. The central bank’s efforts to halt the baht’s slide against the greenback were “not compatible” with the weakening growth outlook, ING Barings said. “The Bank of Thailand has bewilderingly decided to prevent the baht from depreciating beyond 43.50/US$ by tightening monetary conditions,” said its senior economist Ray Farris. “We see no good economic reason for this baht defense and believe it will be an added drag on growth,” he said, adding that Thailand needs easier monetary conditions and a weaker currency. After “awful” third quarter growth of 2.6 percent, well under expectations of more than 4.0 percent, ING Barings expected fourth quarter GDP to slow to 2.0 percent, setting the tone for a dismal 2001. “If export growth disappoints our forecast of 10.9 percent year-on-year next year, we think Thailand could dip back into recession,” the report said. ING Barings’ gloomy assessment of Thailand’s economic prospects is the latest in a series of warning notes sounded by leading banks.



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Phuket

Indian tourist rescued from a near-drowning at Patong Beach

The Thaiger

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Indian tourist rescued from a near-drowning at Patong Beach | The Thaiger

PHOTOS: Patong Surf Life Saving

An Indian tourist has been rescued from drowning after getting into difficulty while swimming at Patong beach yesterday.

Patong Surf Life Saving report that around 1.30pm at Patong Beach an Indian tourist was spotted in the water, choking and fighting to stay afloat.

Lifeguards dived in and brought him back to the beach. He was not breathing and his heart has stopped beating by the time they got him back to shore. Lifeguards urgently applied CPR.

Mr Jhamnani’s heart started to beat again and he became conscious. He was taken to Vachira Phuket Hospital where he is now recovering.

Well done to the team at Patong Surf Lifesaving. I think you can expect a visit from a grateful Indian tourist in a few days.

Indian tourist rescued from a near-drowning at Patong Beach | News by The Thaiger  Indian tourist rescued from a near-drowning at Patong Beach | News by The Thaiger Indian tourist rescued from a near-drowning at Patong Beach | News by The Thaiger Indian tourist rescued from a near-drowning at Patong Beach | News by The Thaiger Indian tourist rescued from a near-drowning at Patong Beach | News by The Thaiger

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Phuket

Polish man charged after threatening people with a gun in Patong

The Thaiger

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Polish man charged after threatening people with a gun in Patong | The Thaiger

PHOTOS: Patong Police

A Polish man has been charged with carrying a gun in public in Patong, Phuket.

Patong Police report that at 6.20pm last night (Tuesday) they were notified that a man was using a gun to threaten others at a hotel on Pisit Koranee Road in Patong.

Police headed to the hotel to find the Polish man. He denied any knowledge about the gun. Then Police questioned his Thai wife. She took police to a room where she gave the gun to police.

The Polish man has now been charged with illegal possession of gun and carrying it in public without a permit.

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Phuket

Phuket kratom-cooker robs pharmacies – VIDEO

The Thaiger

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Phuket kratom-cooker robs pharmacies – VIDEO | The Thaiger

Phuket police yesterday have arrested a thief while he was cooking up a batch of kratom. He had earlier robbed pharmacies in Chalong, Phuket.

Chief Investigator of the Phuket Provincial Police Col Prawit Engchuan says, “Yesterday we have arrested 25 year old Rattaphon Pales at a house in Chalong. Police seized 0.45 litres of liquid kratom.”

“On Monday night Chalong Police were notified that a man had robbed a pharmacy in Chalong (video below) with a knife. He stole 30,000 baht cash and sped away on that occasion.”

“We have continued the investigation and arrested a suspect while he was cooking liquid kratom at his home.”

“He had robbed the same pharmacy last week and another pharmacy in Vichit. In total he has stolen about 50,000 baht in cash.”

“He was taken to Chalong Police Station where he was charged with illegal possession of Category 5 Drugs and theft.”

PHUKETPhuket police have arrested a thief while he was cooking kratom after robbing pharmacies in Phuket.

Posted by The Thaiger on Tuesday, March 19, 2019

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