Politics
- Business News
Baht volatility looms amid political risk and new government formation
Kasikornbank (KBank) has warned investors that the formation of a new government and political risk may result in increased baht volatility over the next month. The bank forecasts that the baht will fluctuate between 33.80-35.40 per US dollar during this period due to various internal and external factors. The primary determinant is the direction of the US Federal Reserve’s policy…
- Business News
Biden and McCarthy hold productive talks on US debt ceiling deal
Negotiations between Democratic President Joe Biden and top congressional Republican Kevin McCarthy have progressed as both parties aim to reach a deal to raise the United States’ US$31.4 trillion debt ceiling and prevent a catastrophic default. Following a four-hour meeting at the White House, McCarthy stated that negotiations had improved and would continue. Although several issues remain unresolved, he predicted…
- Politics News
MFP leader promises reasonable minimum wage increase without economic damage
Move Forward Party (MFP) leader Pita Limjaroenrat recently assured that a coalition government under his leadership would not immediately raise the minimum daily wage to 450 baht but would ensure a reasonable increase without causing damage to industry or the economy. Limjaroenrat, the party’s prime ministerial candidate, made this promise during a meeting with representatives of the Federation of Thai…
- Politics News
China downplays Micron ban as individual case, not broader US firm targeting
China is attempting to mitigate the fallout from its recent decision to partially ban sales of US chipmaker Micron‘s products in the country on national security grounds. The ban has been challenged by Washington, which views it as a deliberate targeting of US businesses in response to export controls imposed on China. However, Chinese authorities, including the foreign ministry and…
- Politics News
China bans US Micron chips, escalating global chip industry risks
China’s recent ban on certain sectors using chips from United States-based Micron Technology has highlighted the potential risks faced by the global chip industry amidst rising Sino-US trade tensions. The move against Micron, the largest US memory chipmaker, is widely perceived as retaliation for Washington’s attempts to limit Beijing’s access to crucial technology. This comes as the Group of Seven…
- World News
Greece’s political earthquake: Mitsotakis wins, Tsipras suffers huge setback
Greece experienced a “political earthquake” as the conservative Prime Minister Kyriakos Mitsotakis and his centre-right New Democracy party secured a significant electoral victory. With nearly 41% of the vote, the party was just five seats short of a majority. Alexis Tsipras, the centre-left rival and leader of the Syriza party, congratulated Mitsotakis as Syriza only managed to secure 20% of…
- Politics News
Move Forward Party drops coalition partners amid supporter backlash
Thailand’s Move Forward Party (MFP) made a recent change to its proposed coalition. The party has decided to drop the New and Chartpattanakla parties from its proposed coalition line-up, following a backlash from its supporters. MFP secretary-general Chaithawat Tulathon announced yesterday that the party will now focus on lobbying for Senate support for its leader, Pita Limjaroenrat, to become premier,…
- Politics News
Thailand’s Democrats deny seeking to join Move Forward Party-led coalition
Prominent members of Thailand‘s Democrat Party dismissed claims that they are considering joining the coalition led by the Move Forward Party (MFP). These rumours emerged on Thursday night after the formation of a 10-party alliance, suggesting that a group of winning Democrat candidates close to acting party secretary-general Chalermchai Sri-on were seeking to approach the MFP and Pheu Thai to join…
- Business News
Move Forward Party policies to boost retail, banking, and tourism stocks
The new coalition government led by the Move Forward Party is expected to have a positive impact on retail, banking, and tourism stocks, as per analysts. The party’s policies aim to enhance the economy’s efficiency by reducing monopolies and increasing welfare for all, says Asia Plus Securities (ASPS). The sectors likely to benefit from these policies include retail, tourism, transport,…
- World News
Montana becomes first US state to ban TikTok over Chinese surveillance fears
Montana becomes the first US state to ban the Chinese-owned TikTok app, with Governor Greg Gianforte signing legislation that prohibits Google and Apple’s app stores from offering it within the state’s borders. The ban is set to take effect on January 1, 2024. TikTok, which has over 150 million American users, has faced increasing calls for a nationwide ban due…
- Thailand News
Meet Ivana Kurniawati, wife and supporter MFP’s Rangsiman Rome
A fascinating aspect of Thai politics recently emerged in the online world when photos of Rangsiman Rome, a Move Forward Party List MP, began circulating. Instead of focusing solely on Rangsiman, many netizens became intrigued by the beautiful woman standing behind him in a black outfit, Ivana Kurniawati, the stunning Indonesian wife of Rangsiman. Ivana recently married the 30 year…
- Thailand News
Thailand’s economy defies global recession fears with post-election boost
Thailand’s economy is predicted to gain momentum during the last three quarters of this year, despite the looming threat of a global recession, partly due to the boost from the May 14 General Election, according to analysts. The country’s GDP growth for the first quarter was 2.7% year-on-year, surpassing the expected 2.3% and marking an improvement from the 1.4% growth…
- Thailand News
Military-backed senators refuse to back MFP form a government
Military-backed senators yesterday told the Move Forward Party (MFP) that they won’t be helping them form a government. The MFP need at least 376 members to form a coalition government but Thai senators said that they won’t be getting any votes from them. They will have to find the votes from somewhere else if they have ambitions to run the…
- Thailand News
Record breaking! Bangkok has highest turnout in voter history
The 2023 General Election witnessed the highest voter turnout in Bangkok’s history. According to the Bangkok Metropolitan Administration (BMA), over 74% of eligible voters cast their ballots in the election yesterday. Representatives from the BMA announced the unofficial election result from 6,360 polling stations in Bangkok in the early hours of this morning. Out of the 4,479,155 eligible voters, 3,339,664…
- World News
Erdogan and Kilicdaroglu face off in historic Turkish presidential runoff
Voters in Turkey gave President Recep Tayyip Erdogan and his rival Kemal Kilicdaroglu another opportunity yesterday to make their case for the future of the country. A close result means neither secured 50% of the votes and will face each other in Turkey’s first presidential runoff on May 28. Erdogan, 69 years old, rose from humble beginnings in Istanbul to…
- World News
Biden administration warns of catastrophic consequences if US defaults on debt
The United States government is facing a potential economic catastrophe if a debt deal is not reached in the coming days. The possibility of the country’s first-ever default is causing concern, as negotiations between Democrats and Republicans are expected to continue this week. The two parties have been unable to come to an agreement, despite warnings from officials and bankers…
- World News
Imran Khan calls for nationwide ‘freedom’ protests after arrest in Pakistan
Imran Khan, the former prime minister of Pakistan, has called for nationwide “freedom” protests today after last week’s unrest following his brief arrest and detention. The former cricket star, who has faced numerous legal cases since his removal from office in April last year, was released on bail on Friday when the Supreme Court declared his detention unlawful, AFP reported.…
- Thailand News
Thai police keep an eye on vote-buying in competitive provinces
Thai police are keeping a vigilant eye on incidents of vote-buying today, following allegations of election law malpractices in three intensely competitive provinces. After a meeting with election officials, National Police Chief Police General Damrongsak Kittiprapas confirmed yesterday the arrest of a man in the northeast Bueng Kan province, under the suspicion of vote-buying. Evidence collected during the arrest included…
- Bangkok News
Intimidation by armed men against anti-cannabis rally in Bangkok
Former politician Chuwit Kamolvisit led a team to file a complaint after being threatened by a group of men with guns during an anti-cannabis rally in Bangkok. The 61 year old claimed that some wore logo shirts of the Thai Pride Party (Bhumjaithai Party), with live broadcast footage as evidence. Chuwit led his team to file a complaint at Phaya…
- Politics News
Pheu Thai Party candidates launch campaign caravan at Democracy Monument
Today at 9.30am, the Pheu Thai Party began its campaign at the Democracy Monument in Bangkok. Led by 35 year old Patongthan Shinawatra, and Sathorn Taweewon, they were joined by 33 Bangkok constituency candidates. Patongthan and Sathorn waved flags and released a car caravan as a symbol of their commitment to Thailand’s democracy. The Pheu Thai Party’s caravan procession was…
- World News
UMNO’s relevance continues despite being perceived as lifeless, says party president
Despite widespread perceptions of being a “lifeless” party, the United Malays National Organisation (UMNO) still holds significance, according to party president Ahmad Zahid Hamidi. Speaking at the party’s 77th-anniversary celebration, he acknowledged that the party currently has only 26 members in parliament, along with four more from the Barisan Nasional (BN) coalition, but insisted the party’s relevance endures. UMNO, Malaysia’s…
- Business News
Biden and senior Republicans meeting postponed for further staff discussions
Crunch negotiations between US President Joe Biden and senior Republicans have been delayed until early next week, allowing staff to continue their discussions, according to a statement from the White House yesterday. An insider familiar with the talks between the Democratic and Republican leaders described this as a positive development, implying that it was not the right time for the…
- World News
G7 finance leaders gather amid US debt ceiling standoff and recession fears
A standoff over raising the US debt ceiling overshadowed a meeting of Group of Seven (G7) finance leaders, heightening US recession fears as central banks seek a soft landing for the global economy. President Joe Biden recently urged Republican lawmakers to move quickly to raise the limit on the government’s permitted borrowing from the current US$31.4 trillion or risk throwing…
- World News
China faces backlash over pressure on dissidents abroad but remains undeterred
China is currently facing a strong backlash from Western countries such as the United States, Canada, and the United Kingdom, regarding its controversial efforts to pressure dissidents and their advocates abroad. Despite arrests, expulsions, and investigations taking place, Beijing remains persistent and undeterred in its actions. Isaac Stone Fish, founder and CEO of Strategy Risks, suggests that the increasingly assertive…
- World News
Fumio Kishida’s unexpected political comeback in Japan
It seems that remembering the name of Japan’s Prime Minister Fumio Kishida may be worth it after all, despite the nation’s rapid turnover of leaders. Kishida’s premiership began positively in late 2021 but faced challenges when ties between the ruling Liberal Democratic Party and the Unification Church became a focal point in the media after the killing of former leader…
- Business News
Taiwan’s offshore wind farms amid China tensions and geopolitical risks
In the port city of Taichung on Taiwan‘s west coast, a crane hoists into place the final section of a white wind turbine tower that stands almost a hundred metres tall. This turbine will be one of 111 spinning at a multi-billion US dollar offshore wind project up to 60km into the Taiwan Strait. Constructed by Denmark’s Orsted, this project…
- World News
French PM Elisabeth Borne seeks removal of biography passages on her private life
French Prime Minister Elisabeth Borne, aged 62, has filed a lawsuit demanding the removal of certain sections of a recently published biography, claiming that they breached her privacy. The biography was written by journalist Berengere Bonte and released by the Archipel publishing house. The legal complaint, brought before a court in Nanterre near Paris, identifies passages concerning Borne’s health, sexual…
- Thailand News
Pheu Thai sets conditions for coalition government formation
Pheu Thai Family leader and prime ministerial candidate Paetongtarn “Ung Ing” Shinawatra has revealed three conditions for the party to form a coalition government, with one condition being that Pheu Thai must manage all major ministries. During an hour-long interview published on TikTok and Instagram Live, which was hosted by celebrity Kachapa “Mod Dam” Tancharoen on Monday night, Paetongtarn maintained…
- World News
Canada won’t be intimidated by China’s expulsion of Canadian consul, says Trudeau
Canada’s Prime Minister, Justin Trudeau, stated yesterday that the country would not be intimidated by China’s tit-for-tat expulsion of a Canadian consul. This came after Ottawa expelled a Chinese diplomat earlier this week, who was accused of targeting a lawmaker critical of Beijing. Trudeau emphasised that his administration’s decision to expel the Chinese official was taken to convey a clear…
- Business News
Biden meets Republican leaders in bid to resolve US debt limit impasse
A significant meeting took place between President Joe Biden and Republican leaders yesterday, with the hope of breaking the deadlock over the US debt limit, which could have repercussions in the upcoming presidential election. The key gathering had President Biden, House Speaker Kevin McCarthy, and Senate Republican leader Mitch McConnell discussing the national debt ceiling, which currently stands at US$31.4…
