Govt offers schemes to reduce household debt
13 October 2023 at 19:36 PUBLISHED
Rudklao Suwankiri, a spokeswoman for the deputy government, stated on Friday that the government wants to reduce household debt to less than 80 % of the gross domestic product ( GDP ) and that it is offering various debt-setting measures to assist those in need.
The second quarter saw house debts reach 16 trillion ringgit, or 90.6 % of GDP, according to the Bank of Thailand.
According to Ms. Rudklao, on Navamindra Maharaj Day on Friday, the Government Savings Bank ( GSB ) started providing options for people whose debts have been classified as non-performing loans( NPLs ) and those who are having trouble repaying them.
According to her, this is a component of the government’s socioeconomic development strategy, which aims to assist debtors in resolving their debt issues, lowering their living expenses, and enhancing their capacity to increase income.
The GSB is now allowing lenders to choose to stop repaying the money and only pay interest at a rate ranging from 25 % to 100 % of the regular monthly charge, she said. This will last until December 30.
If debtors agree to pay off their debts at reduced interest rates, she said, they will be exempt from bankruptcy lawsuits and property confiscations if they were NPLs prior to December 30.
Fraud suspect who claimed royal connections held at airport
13 October 2023 at 18: 18 PUBLISHED
On Thursday after his returning from Myanmar, a 29-year-old man was detained for alleged fraud and forgery of official records at Suvarnabhumi aircraft, according to police.
On May 31, the Criminal Court issued an arrest countenance, which led to Chulathipok Palakawong Na Ayutthaya’s detention. He was accused of defrauding another, using a fake formal document, and falsifying official documents.
According to police, the suspect allegedly pretended to be a Royal Household official while contacting several restaurants to make VIP reservations between 2021 and 2023.
According to police, he reportedly charged fifteen businesses for expenses like pins and photos, with economic losses totaling close to one million baht.
After the company owners filed complaints with the police accusing him of fraud, he fled to Myanmar. When they received information about his return from Myanmar officers, authorities were dispatched to Suvarnabhumi airport.
The suspect admitted to posing as an official during the first questioning, but he denied accepting any andnbsp, income. According to authorities, he had three arrest warrants for similar offenses.
Move Forward seeking general debate against govt
Published: October 13, 2023, at 8:00
According to Chaithawat Tulathon, the leader of the Move Forward Party( MFP ), the opposition camp intends to hold a general discussion against the Pheu Thai-led government early in 2019.
The Democrat Party and the Fair Party, two opposition parties, held their first formal meeting on Thursday, according to Mr. Chaithawat, to discuss their work for the legislative session and split.
The MFP head, who will take on the role of opposition leadership, stated that he had asked opposition partners to work together and effectively to examine the government’s work and encourage public involvement in the check-and-balance system.
After the Budget Bill is passed, the opposition intends to file a motion for public debate to grill the government about its performance early the following year, according to Mr. Chaithawat.
Without casting a vote, the House may question and propose ideas to cabinet ministers during the public debate under Area 152 of the constitution.
But, Mr. Chaithawat stated that if the opposition has information or proof regarding any irregularities, the planned public debate may be changed to a no-confidence debate.
Every Tuesday night, one day before the House discussions on Wednesday and Thursday, the foe paddles are supposed to convene, he continued.
Pita Limjarorenrat, who left the group’s leading position after being suspended as an MP due to his internet ownership situation, was replaced by Mr. Chaithawat when he was elected as the MFP president last month.
After the MFP fired Deputy House Speaker Padipat Santipada, who has since joined the Fair Party, Mr. Chaithawat was given the go-ahead to take over as criticism leader.
Mr. Padipat’s extrusion was needed for the MFP to assume the position of opposition leader because Section 106 of the charter forbids a part of an opposition party from serving as the government minister or House presenter.
PM Srettha to visit China next week
Published on October 13, 2023, at 17:57
Next week, Prime Minister Srettha Thavisin may travel to China for a four-day official visit.
According to the Ministry of Foreign Affairs( MFA ), he will also attend the 3rd Belt and Road Forum for International Cooperation in Beijing during the Oct. 16 – 19 andnbsp, where Chinese President Xi Jinping will give a keynote speech.
Mr. Srettha, the finance minister, will speak at the forum with the theme” Green Silk Road for Harmony with Nature ,” which emphasizes cooperation in the green economy and sustainable development.
Mr. Srettha will attend President Xi Jinping during the formal visit at the offer of Taiwanese Premier Li Qiang, and he and Zhao Leji, Chairman of the National People’s Congress Standing Committee, will have a brief conversation.
In order to further Thailand and China’s trade and investment assistance, Mr. Srettha will also speak with Taiwanese business leaders.
To improve company partnerships, representatives from the Thai private sector may also join with those from China.
At an expense advertising forum, which will be attended by company leaders from both nations, Prime Minister Srettha did make remarks on important financial policies, according to the MFA.
It added that the prime minister’s attend offers a chance to improve the Thailand-China Comprehensive Strategic Cooperative Partnership and forge closer ties in all areas, especially in business, investment, connectivity, and people-to-people exchanges, which will benefit both nations’ economies and quality of life.
Singapore authorises updated Moderna COVID-19 vaccine targeting newer Omicron subvariants
According to HSA on Friday,” The updated Spikevax immunization functions in the same way as the original vaccination.”
The updated immunization contains a single element that corresponds to the Omicron XBB, in accordance with international advice. 1. 5 variation.
This indicates that the vaccine still offers protection from existing Omicron subvariants.
The updated vaccine is expected to maintain the favorable benefit-risk harmony of the initial Spikevax bivalent vaccine, and there are no other changes to the value, safety, or efficacy of it, according to HSA.
The specialist took into account both additional information and the” extensive information” from earlier editions of the Spikevax vaccine when reviewing the updated vaccination.
The updated vaccination was” boost the immune responses against the commonplace circulating Omicron subvariants ,” including XBB, according to the extra information. 1. 5, EG. 5, or Eris, and the budding BA. 2.86.
” HSA has determined that the entire evidence supported the approval of the updated Spikevax vaccination based on the sum of information, and with the assistance of both the Medicines Advisory Committee and the Panel of Infectious Diseases Experts.”
As the disease continues to evolve and novel variants appear, regular updating of approved COVID – 19 vaccines may be required.
For modifications include the replacement of stress, antigen, or coding series in accordance with recommendations from other countries.
According to the power,” This strategy has been established for annual influenza vaccines that are updated every six months.”
It further stated that it would deliberately track and evaluate the vaccine’s efficacy and safety data.
COE quota to increase by 13% in the quarter starting November
SINGAPORE: The overall quota will increase by 13 %, and more & nbsp, Certificates of Entitlement( COE ), will be available in the upcoming quarter from November 2023 to January 2024.
The Land Transport Authority ( LTA ) announced this on Friday( Oct 13 ) and announced that there would be a & nbsp, totaling 12, 774 COEs for the quarter. & nbsp,
The biggest growth is in groups Some and C.
For & nbsp, Category A, which is primarily used for smaller mass-market automobiles, will have a quota that is 22 % higher than the previous quarter and 81 percent above the same quarter last year.
According to LTA,” This is made possible by bringing forth 1, 570 guaranteed deregistrations of cars on five-year registration.” & nbsp,
The quota for goods vehicles and buses in category C will be & nbsp, 35 % higher than the previous quarter and 14 % more than in the same quarter last year. & nbsp,
The supply of larger vehicles in Category B will increase by about 4 % compared to the previous quarter. & nbsp,
The source of motorcycle Offerings will rise by 5 % while the limit for the Open Category will increase by 8 percent.
On November 6, the fresh quota’s bidding will begin.
The supply for & nbsp, categories A, B, and C is anticipated to continue to rise next year, according to LTA.
According to the agency, the Category D quota will be” comparable” to 2023 starting next year.
Chance of slight haze affecting Singapore over the weekend if fires in Sumatra escalate: NEA
SINGAPORE: According to the National Environment Agency( NEA ) on Friday( Oct 13) in its daily haze advisory, there is a chance that if fires in Sumatra worsen over the weekend, Singapore may be affected. Over the weekend, arid conditions are anticipated to continue over Singapore and the surrounding area.Continue Reading
What everyone should now know about Hamas
The Hamas organization launched a surprise assault on Israel, entering the nation from Gaza and killing thousands of civilians and kidnapping lots of victims.
Defense clashes between Israel and Hamas are common. Since 2007, Hamas has engaged Israel in a number of war and carried out dozens of lethal terrorist attacks.
Israel has frequently attacked Hamas with airstrikes in retaliation for those assaults, and since 2007, Egypt has blockaded Gaza by land, air, or sea. Living standards are significantly impacted by this siege, which restricts what can be brought into Gaza, forbids all exports, and imposes tight restrictions on immigration and exit.
But, Saturday’s attack was exceptional and of a magnitude never before seen.
Israeli, US, EU, and UK nations have all designated Hamas, or in some instances, its military aircraft, al-Qaissam regiments, as a terrorist organization. Iran supports it and gives it money, munitions, and education.
Hamas was established during the first revolution, which ran from 1987 to 1993. To overthrow Israel’s guideline and create an independent Palestinian state, Palestinians staged a series of rebellion in the West Bank, Gaza Strip, and East Jerusalem. Although it was mostly non-violent, there were a few instances of marble pushing, civil disobedience, and other techniques.
Hamas is an abbreviation for the Islamic Resistance Movement, also known as Harakat al-Muqawama al – Islamiya. It was founded by Palestinian cleric Sheikh Ahmed Yassin to take the place of the Palestinian Islamic Jihad( PIJ ), a group that threatened to drive Palestinian support away from the region’s active transnational Islamist movement known as the Muslim Brotherhood.
The founding of a Palestinian state and the destruction of Israel were the goals of the radical and dramatic movement Hamas, which was founded in 1988. Inciting violence against Jews, enforcing Sharia rules, and rejecting any efforts to bring about peace were even mentioned in the contract.
In 2017, Hamas updated its mandate, omitting mentions of murdering Jews and appearing to soften its stance toward Israel by mentioning the establishment of the Palestinian state in accordance with the June 4, 1967 agreement.
But, the new contract stated that Palestine, which stretches from Ras Al-Naqurah in the northwest to Umm Al – Rashrash, is” extended from the River Jordan in west to the Mediterranean in west.” Now, a sizable portion of Jewish place is covered by this geography. One of Hamas’ catchphrases,” From the valley to the water ,” still connotes a complete takeover of Israel.
Private rule under Hamas
The Gaza Strip, a region of the Arab territories, is governed by Hamas’ social extension. The West Bank, which is governed by the Palestinian Authority( PA ), is the other component.
The Fatah group, the main group within the Palestinian Liberation Organization, is in charge of the PA. Hamas does hardly recognize Israel, whereas Fatah is a liberal, nationalist group.
In the 2006 congressional vote, which was the last one held in the Palestinian territories, Hamas defeated Fatah. Because Hamas is viewed by many in the West as a criminal organization that does not recognize Israel’s right to exist, the 2006 election was never recognized by the Western world.
In the end, the team gained control in Gaza in 2007 while the PA remained in power in the West Bank. Since then, no vote has been called.
People’s lives have been somewhat improved by some cultural, financial, and social activities under Hamas’ democratic rule over the Gaza Strip, such as school administration. Hamas’ fraud, however, also has an effect; instead of local programs, the group focuses and spends a lot of money attacking Israel.
The Palestinian Center for Policy and Survey Research in the Palestinian Territories conducted a survey of 1, 270 adults in June 2023, and found that the political division of Palestinian territories— with PA ruling the West Bank and Hamas governing Gaza — was” the most damaging development that has occurred since 1948, followed by the occupation of the WBank and the Gaza Strip in 1967.”
According to the same crown, only one-third of Palestinians in Gaza and the West Bank would support Hamas over PA in a national poll.
Despite numerous human rights violations, such as the harassment and abuse of LGBT individuals, women, and political critics, Hamas continues to enjoy these relatively high levels of support. It is questionable whether aid will be strong following this invasion and the new siege Israel has imposed on Gaza, cutting off supplies of food, light, and waters.
The exact motivation behind Hamas’ invasion is unclear. Given the timing, it’s possible that the group wants to keep the Israel-Saudi marriage from becoming normal. This peace agreement, which has been in the works for months, would result in Israel’s acknowledgment by Saudi Arabia. Saudi Arabia may obtain security assurances from Israel’s closest friend, the US, in return.
But, it is obvious that Israel and Hamas are currently at war.
Veronika Poniscjakova teaches as a top training fellow at the University of Portsmouth’s Military Education program.
Under a Creative Commons license, this post has been republished from The Conversation. Read the original publication.
Why oil prices won’t skyrocket as they did in ’73
Israel’s sudden assault on Israel on Saturday, the day before the 50th celebration of the 1973 Arab-Israeli War, caused the world oil prices to soar.
After the United States provided financial support to Israel in the Arab-Israeli War, the world crude cost nearly quadrupled up next between late 1973 and early 1974.
Oil exports to countries like the US, the United Kingdom, Canada, and Japan were halted by the Organization of Arab Petroleum Exporting Countries( OPEC ).
Had it occur once more? The answer is almost definitely no, despite the adage that past doesn’t duplicate but it rhymes. While there are strange parallels between the activities of 1973 and the present, these distinctions are more significant.
This day, things are different.
Israel faced off against two oil-producing countries in the 1973 conflict: Egypt and Syria.
The Organization of Arab Petroleum Exporting Countries imposed an oil embargo after the US offered assistance to Israel, followed by a string of manufacturing reductions that raised the price of crude globally.
Israel and Hamas, the Islamist organization in charge of the little Gaza Strip, which is bordered by Israel, Egypt, and the Mediterranean Sea, are at battle in 2023.
Israel and Gaza neither produce a lot of fuel.
Cost growth has been temporary.
It’s probable that Iran, a country rich in oil, will take part in the fight. Although its Supreme Leader, Ayatollah Ali Khamenei, has denied Iran’s role, it is rumored to have assisted in the planning of the Hamas harm.
Additionally, it’s possible that oil-exporting countries will reduce items in a show of support for Hamas.
However, there is currently no reason to think that this will occur, and the price of crude hasn’t changed all that much.
Brent crude‘s rate increased by 15 % from about US$ 95 per chamber to US$ 110 when Russia invaded Ukraine in 2022.
Russia had been the third-largest oil producer in the world, producing approximately 10 % of the global supply.
The Brent simplistic value, in contrast, ended on Friday( prior to the Hamas attack ) at about US$ 84. On Monday, it increased to$ 88 before falling back, falling far below even the$ 94 peak from the previous month.
Why was there even a slight raise?
Not every increase in oil prices is brought on by a source issue.
My analysis demonstrates how changes in demand can also be significant. These fall under the categories of” speculative demand” and” precautionary demand.”
The need for more oil to keep in reserve in case supply becomes scarce is referred to as cautionary demand. Investors who anticipate profiting from more rate increases are the source of speculative demand. Both increase the price of fuel.
The good news is that, barring an unforeseen event, both effects ought to be fairly transient. The results of this situation have been minimal thus far.
Jamie Cross teaches figures and entometrics as an assistant professor at Melbourne Business School.
Under a Creative Commons license, this essay has been republished from The Conversation. read the article in its entirety.
Budget brinkmanship threatens US security in the Pacific
Less than a week after hosting the US-Pacific Islands Forum Summit gathering in Washington, DC, the United States government allowed funding for the Marshall Islands and Palau to expire at the end of September. The 45-day temporary finances passed last week did not include the earmarked funds.
If the money is never restored, China may be able to intervene and offer crucial financial support to the Pacific Island archipelagos. Without US guidance, neither Palau nor the Marshall Islands may fulfill their budgets.
The Marshall Islands, Palau, and the Federated States of Micronesia are the three Western island states with which the US maintains Compacts of Free Association.
The three beach nations give the US the right to run military bases in the islands and generate decisions pertaining to their physical security in exchange for security guarantees, financial support, and rights for their citizens to live, research, or work in America.
In addition to installing long-range over-the-horizon detector in Palau and operating a nuclear weapon protection test site on the Kwajalein atoll in the Marshall Islands, the US military also intends to maintain armed presence there permanently. Big US air and naval bases located in Guam support these facilities and will do so in the future.
On the way to the Philippines and Australia, the three beach states are situated west-southwest of Hawaii. They cover a vast maritime region but have smaller populations and meager economies after being taken from the Japanese during large battling during World War II. The Marshall Islands are home to about 42 000 individuals, Palau has 18, 000, and the Federated States of Micronesia has 115 000.
The US governed the beach claims as regions of the Pacific Islands’ United Nations Trust Territory, which also included Saipan and the other Northern Mariana Islands, from 1945 to 1978. In 1975, the Northern Marianas decided to become a republic. The various three towns made the decision to formally join the US as free state.
The Marshall Islands are best known for their nuclear weapons testing, which were conducted between 1946 and 1958 on the islands of Bikini and Enewetak. Residents were forced to flee, and nuclear fallout contaminated these islands as well as a number of others, resulting in illness, fatalities, or long-term economic harm.
A 15-million dwt blast from the 1954 Castle Bravo hydrogen bomb on Bikini was roughly 1,000 times larger than the World War II nuclear weapon the US dropped on Hiroshima.
Since then, the US government has paid out roughly$ 600 million in compensation for damages, environmental recovery and rehabilitation, resettling displaced people, and health and medical applications.
However, the Marshall Islands are requesting an further$ 3 billion and a formal apology. When compared to the US defence budget, which is currently over$ 800 billion, and the guidance given to Ukraine so far, these sums pale in comparison.
The US, however, is pushing a tough agreement. Joseph Yun, President Biden’s special minister in charge of negotiating the Compacts of Free Association contracts, claimed to have told his Marshall Islands peers,” Listen, there is no more money ,” during a legislative hearing in July. He added that the nuclear topic had been resolved in the 1980s, according to The Guardian.
David Stilwell, an Air Force colonel colonel and former assistant secretary of state for East Asian and Pacific Affairs, was quoted by Voice of America, which was supported by the US Congress, as saying,” We have to draw a line there.”
Over the following 20 years, that line is$ 7.2 billion in President Biden’s budget for 2024 for all three island states. Of this,$ 2.9 billion would go to the Marshall Islands, and$ 700 million would be set aside to address nuclear-related problems.
Given that both Yun and Stilwell are obviously worried about China, it is difficult to accuse them of being unable to discover the Pacific for the palm trees. A general election is scheduled for November 20 in the Marshall Islands, where the US contributes roughly 40 % of the federal budget.
The financial situation of Palau is likewise severe. President Surangel Whipps Jr. recently stated in an interview with the Voice of America that Palau will be unable to give its payments as of January 1, 2024, if the US Congress does not reinstate the originally agreed money.
Additionally, he added,” When the US commits to everything, are they really committed?” I believe this is the most significant impression it projects on Palau and the citizens of Palu.
In retaliation for its unwillingness to cut ties with Taiwan, China, which was once Palau’s main cause of holiday revenue, reduced the number of visitors it permitted to the beach.
Whipps claims that as a result, between 2016 and 2019, the number of Chinese visitors who came to Palau fell by more than 50 %, which led to the city’s GDP falling by over 30 % and its state having to borrow money from the Asian Development Bank. The international tourism sector was then hit by Covid-19.
Palau may have resumed its fiscal stability on October 1 if US funding had been provided as anticipated, but it is currently in a precarious position.
However, according to Yun,” If we don’t approve that package in a timely manner, we seriously jeopardize our credibility in the region and obviously in relation to what we are saying about competing with China. “& nbsp
The Marshall Islands and Palau continue to have political ties with Taiwan. A proposed local security pact with China was rejected by the Federated States of Micronesia in 2022 despite their political ties to the People’s Republic of China. They typically have a favorable attitude toward the US and are afraid of China, but Kiribati’s example cannot be disregarded.
Southeast of the Marshall Islands and Federated States of Micronesia, the Republic of Kiribati changed its designation from Taiwan to People’s Republic China in 2019.
In exchange, it has gotten help in the fields of agriculture, medical, and tourism, including the improvement of an airport that the government of Kiribati claims is for human use but which the US and others see as giving China a potential defense foothold.
The Biden administration has made a sincere effort to improve relations with Pacific Island says after years of abuse. The second US-Pacific Island Country Summit meeting took place in Washington, DC, in September 2022.
Since then, the US has established diplomatic ties with the Cook Islands and Niue, plans to open an ambassador in Vanuatu in 2024, opened offices in the Solomon Islands, and extended diplomatic recognition to those nations.
Biden stated a number of priorities at the next meeting, which was renamed the US-Pacific Islands Forum Summit and took place from September 25 to 26, this yr. These priorities included providing extra development aid, strengthening local institutions, enhancing modern connectivity via undersea cables, supporting the Compacts of Free Association, and working” quickly to meet the needs of the Republic of Marshall Islands.”
We know that the United States stands high for its renewed relationship with the Pacific Islands, and it is crucial for all of us to maintain that words are met with actions, but it’s unclear if he was paying attention when Marshall Islands President David Kabua stated to the UN General Assembly on September 20 that” we even have grave growth challenges.”
They most likely will remain, but China is likely to pick up the game if the US lets it go.
Follow this author on Twitter at @ ScottFo83517667.