Italian Backpacker Steals Cash and Flees from Pattaya Apartment

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2 December 2024, 14:52

italian backpack pattaya1 — CCTV footage shows the Italian backpacker leaving a local apartment complex on Dec. 1, 2024.

PATTAYA — Police are currently searching for an Italian national identified as Andrea, following a theft incident at a local apartment complex. The suspect was captured on security cameras stealing from the property before fleeing.

The incident came to light on December 2nd when Ms. Darinraya Kongsuk, 36, the apartment owner, reported the theft to authorities. According to her statement, Andrea, who appeared to be a backpacker, had checked into the apartment on November 29th and was scheduled to check out on December 1.

Security footage revealed that on his check-out day, Andrea deliberately chose the early morning hours when no staff were present at the front counter. He was seen pretending to ring for service before proceeding to search through belongings behind the counter, ultimately stealing 4,000 baht hidden in a pink bag on the bar counter. He then left his room key and departed the premises.

Ms. Kongsuk noted this was the first incident of its kind at her property. She also revealed concerning behavior during the suspect’s stay, including an incident where a Thai woman who visited his room rushed down after an hour, reporting to staff that he had refused to pay for her services.

italian backpack pattaya2 — Ms. Darinraya Kongsuk, 36, shows where the Italian backpacker took 4,000 baht from a bag at the bar counter on Dec. 2, 2024.

“His behavior shows a complete lack of respect for Thai people,” Ms. Kongsuk expressed with disappointment. Staff observed that the suspect spoke Thai with remarkable fluency.

The case has been filed with Police Lieutenant Colonel Ittikorn Saikrothok at Pattaya City Police Station. The owner believes the suspect may still be in the Pattaya area and warns other accommodation providers to be vigilant about this particular foreign guest.

Police are actively investigating the case and urging anyone with information to come forward.

Italian Luxury Leather Brand BONAVENTURA Debuts at CentralWorld

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Contributor

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2 December 2024, 14:20

BONAVENTURA, Italy’s luxury leather goods brand, renowned for blending premium European materials with exceptional craftsmanship, has launched its first Pop-Up Store in Thailand at CentralWorld, Bangkok’s premier fashion hub. Known for timeless designs that balance sophistication and functionality, the brand invites shoppers to explore its collection until January 31, 2025.

Mr. Giacomo Cortesi, Group CEO of BONAVENTURA, highlighted Thailand’s rising prominence as a luxury fashion hub in the ASEAN region, rivaling Singapore and Hong Kong. Recognizing this growth potential, BONAVENTURA has opened its first Pop-Up Store in Bangkok at CentralWorld, marking a significant milestone for the brand in Southeast Asia.

The Pop-Up Store highlights BONAVENTURA’s unique identity as an Italian leather goods brand. Known for its premium-quality products, the brand aims to make luxury accessible by offering timeless designs that uniquely blend elegance and functionality, all at attainable prices. The brand continues to focus on offering exceptional value to customers through designed products that align with their needs. These creations blend practical functionality with timeless style, ensuring they remain relevant and adaptable. This thoughtful approach resonates with smart consumers who prioritize real value and tangible benefits.

Mr. Giacomo further shared that since its establishment, BONAVENTURA first gained recognition with its premium iPhone cases, initially sold exclusively through online channels. The overwhelmingly positive response inspired the brand to expand its distribution, leading to the opening of its first flagship store in Milan. This success paved the way for a broader product line, including bags, wallets, and other small leather goods, solidifying its presence in major global fashion capitals. Japan has emerged as a key market for BONAVENTURA, experiencing significant growth following the opening of its flagship store in Omotesando in 2020. This momentum continued with the launch of another flagship location in Ginza at the end of 2023, highlighting the brand’s strategic commitment to expanding its presence and growth in the region.

“As we launched BONAVENTURA’s first Pop-Up Store in Thailand, CentralWorld was a natural choice for its status as a global lifestyle landmark and top-of-mind destination for both Thai consumers and international tourists, situated in the vibrant Ratchaprasong district, the heart of Bangkok’s fashion, business, and tourism sectors, we are confident that this Pop-Up Store will receive an excellent response from Thai customers,” said Mr. Giacomo

The first BONAVENTURA Pop-Up Store in Thailand is located in the Atrium Zone on the 1st floor of CentralWorld. Designed to deliver a unique and comprehensive shopping experience, the Pop-Up Store showcases a wide range of collections for customers to explore. The store will be open from today until January 31, 2025, inviting shoppers to immerse themselves in BONAVENTURA’s exquisite offerings.

Mr. Riccardo Paoli, a master leather artisan, highlighted that the essence of BONAVENTURA lies in its commitment to blending tradition with modern innovation. The name translating to “A wish of good luck” in old Italian, underscores the brand’s mission to deliver “Happiness” to its customers. What sets the brand apart in the global luxury market is its use of premium leather sourced from top-tier European tanneries, highly regarded by global luxury brands. These tanneries not only produce high-quality leather but also utilize advanced, eco-conscious tanning processes, aligning with modern sustainability standards.

Additionally, BONAVENTURA places a strong emphasis on expert craftsmanship. The brand collaborates exclusively with skilled artisans who share its dedication to excellence. Every product undergoes meticulous production processes, combining refined technology with superior craftsmanship to deliver pieces of unmatched quality. The vibrant colors of the leather used are another hallmark of BONAVENTURA’s products. These colors remain fresh and timeless, ensuring that each piece caters to the diverse lifestyles and preferences of its customers. With a wide range of color options, customers are encouraged to mix and match pieces freely, creating personalized, effortless styles that reflect their individuality.

“BONAVENTURA places great importance on creating leather goods that seamlessly blend beauty and functionality, with meticulous craftsmanship in every detail. The brand maintains its signature design, which focuses on elegance through minimalist style. The highlight collections of the brand include bags, iPhone cases, wallets, and small leather goods, offering Thai fans the chance to experience the joy of owning high-quality leather products. These collections are perfect for the year-end and New Year’s season, a time when many are looking for gifts for themselves or loved ones. BONAVENTURA aims to be a symbol of happiness and well-wishes, sharing those positive feelings with the people you care about.

“BONAVENTURA emphasizes the art of crafting leather goods that flawlessly merge beauty and functionality, with an unwavering commitment to precision in every detail. Upholding its feature of minimalist elegance, the brand highlights collections featuring bags, iPhone cases, wallets, and small leather goods. Thai customers can explore these exceptional items, designed to bring joy and satisfaction to those who value quality. Perfect for the festive season, BONAVENTURA’s pieces are ideal gifts for yourself or loved ones, embodying the spirit of happiness and well-wishes,” said Mr. Riccardo.

For those seeking to own premium leather goods of global quality, BONAVENTURA invites you to visit the BONAVENTURA Pop-Up Store at the Atrium Zone, 1st Floor, CentralWorld. The store is open from today until January 31, 2025, offering a curated selection of collections. Customers can also browse and shop online across multiple platforms for added convenience.

Website: th.bonaventura.shop/
Facebook: Bonaventura Thailand
Instagram: @bonaventura_thailand
Line: @bonaventura_th

CP Group Launches Myanmar Corn Tracking to Combat PM2.5

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Contributor

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2 December 2024, 13:46

C.P. Group, through its Charoen Pokphand Produce Co., Ltd. (CPP) and Bangkok Produce PLC (BKP) subsidiaries, is partnering with the Myanmar Corn Industrial Association (MCIA) in the adoption of pioneering technology to improve the traceability of corn in Myanmar’s supply chain.

This trailblazing initiative leverages satellite imagery and blockchain technology to flag any corn produced in forested areas or by farms using slash-and-burn practices. This will hugely benefit efforts to protect the environment – particularly with tackling cross-border smog and haze pollution – and raise levels of trust in the domestic and international markets.

Mr. Worrasit Sitthivichai, Chief Operating Officer, CPP Myanmar, emphasized CPP’s readiness to collaborate with partners, traders, and farmers in implementing 100% traceability for both seeds and feed corn. The initiative aligns with the vision of CP Group’s leaders — Mr. Dhanin Chearavanont, Mr. Supakit Chearavanont, and Mr. Suphachai Chearavanont— who prioritize swift, decisive action to support sustainable development.

The programme is initially being rolled out across 570,000 acres in the southern part of Shan State , one of Myanmar’s largest corn-growing regions, where CPP and BKP are integrating the latest technology with a traceability system already operational in the area .

The system employs six critical steps to ensure the preservation of forested areas and support sustainable practices:

Registration and Plot Mapping: All stakeholders, including farmers and corn traders, are registered. Detailed maps of each farming plot are created with precise coordinates.
Satellite Imagery for Plot Verification: Satellite technology validates and monitors cultivation areas to prevent forest encroachment and field burning.
Forest Boundary Check: Historical data on forested areas since 2020 is reviewed to ensure compliance with EU Deforestation Regulation (EUDR). Non-cultivable forest areas are excluded.
Hotspot Monitoring (Jan-May): The system tracks hotspots during peak fire-risk months, with one hotspot equating to 15.4 rai.
5. Burnt Area Calculation: Areas affected by burning are excluded from total cultivation land.
Net Area Verification and Data Collection: After accounting for forest and burnt areas, the system calculates the net cultivable area, recording production data from cultivation to export for full transparency.

“This pilot in southern Shan State establishes a new standard for Myanmar’s corn industry,” said Mr. Worasit. “Traceability enhances buyer confidence, reduces [adverse] environmental impact, and promotes sustainability through innovative satellite and blockchain technologies.”

Mr. U Aung San Aung, Chairman of Myanmar corn industrial association (MCIA), lauded the traceability system as a game-changer for corn production in Myanmar, facilitating access to high-standard markets and ensuring a sustainable supply chain.

Dr. Pyo Ko Ko Naing, Managing Director of Alliance Eagles Group Limited and Secretary of Myanmar corn industrial association (MCIA), highlighted the environmental and cross-border haze mitigation benefits, pledging full support for the program while collaborating with farmers and traders to meet stringent environmental standards.

C.P. Group’s traceability initiative is indicative of industry-wide collaboration to address consumer demand for transparency and high standards while fostering economic, social, and environmental sustainability.

The southern part of Shan State is located in Myanmar’s highlands, bordering China, Laos, and Thailand. It spans 104.2 million rai, comprising of forested area (74.8%), grasslands (15.5%), and agricultural land (7.8%). Corn cultivation accounts for 22% of its farmland, second only to rice.

Thai Raid Exposes Chinese E-commerce Fraud on U.S. Shoppers

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Khaosod English

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2 December 2024, 00:24

NONTHABURI — Thai cybercrime police and telecommunications officials raided a rental house in Pak Kret District, Nonthaburi Province near Bangkok on December 1, uncovering an elaborate online retail fraud operation targeting Chinese and American consumers.

The operation, run by Chinese nationals, involved purchasing Thai citizens’ personal information to create unauthorized online stores on Etsy and Amazon. The scheme exploited U.S. platform restrictions that limit Chinese nationals to operating only one store per person.

During the raid, authorities seized 120 mini PCs (BMAX brand), 80 USB hubs, 369 aircards with SIM cards, 1 laptop computer, and multiple computer monitors.

chinese etsy2 — Communication and electronic devices seized from a rental house in Pak Kret district, Nonthaburi Province on December 1, 2024.

According to Police Major General Jittipont Polpreuksa, Commander of Cyber Crime Investigation Division 4, the suspects recruited Thai citizens through Facebook job groups, offering 900-1,000 baht per person for their information to create online store accounts. These accounts were then sold to Chinese operators for approximately 40,000 yuan (200,000 baht) each.

The scam typically operated by building customer trust over 5-6 months of legitimate transactions before disappearing with customer payments. The operation primarily targeted Chinese and American customers, particularly through Etsy’s handmade goods marketplace, which is popular among U.S. consumers.

chinese etsy3 — Electronic equipment and communication devices found during the raid of a rental house in Pak Kret district, Nonthaburi province near Bangkok on December 1, 2024.

Chen, the Chinese national renting the property, admitted to running the operation. He revealed that each mini PC represented one online store, with some units equipped with up to three aircards to ensure stable internet connectivity. The operation was remotely controlled by Chinese supervisors based in mainland China.

While Chen entered Thailand legally on a digital nomad visa, the investigation revealed that the aircards used in the operation violated Thai telecommunications regulations, operating without proper certification or permits.

Authorities are pursuing charges under the Radio Communications Act and are investigating potential violations of personal data protection laws. The case remains under active investigation.

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PM Refutes Claims of Neglecting South While Visiting North

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Khaosod English

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1 December 2024, 20:46

north and south — Prime Minister Paetongtarn Shinawatra inspects river dredging plans to address flooding issues at Sai Lom Joy Market embankment in Wiang Phang Kham Subdistrict, Mae Sai District, Chiang Rai Province, along the Thai-Myanmar border, on December 1, 2024.

CHIANG RAI — Prime Minister Paetongtarn Shinawatra defended herself against social media criticism about allegedly neglecting flood-hit southern provinces while touring the northern region, emphasizing that providing aid takes priority over making public appearances.

During her visit to Mae Sai Customs checkpoint in Chiang Rai province, the Prime Minister addressed the flooding situation in Thailand’s southern border provinces. She confirmed that deputy prime ministers and ministers were dispatched to the affected areas immediately after the floods began. While in Chiang Rai, she discussed flood relief measures with various banks, which she plans to implement in the southern provinces as well.

paetongtarn chiangrai2 — Prime Minister Paetongtarn Shinawatra defends herself against social media criticism about allegedly neglecting flood-hit southern provinces on December 1, 2024.

When questioned about social media criticism, the Prime Minister responded personally, noting her family connections to the South through her husband. “How could I neglect the South when my husband and his family are southerners? From the moment the flooding occurred, Deputy Prime Ministers Anutin Charnvirakul, and Phumtham Wechayachai, and other officials have been coordinating relief efforts, communicating through the night via LINE and phone calls.”

She explained that the cabinet meeting in Chiang Mai had been planned months in advance as part of economic recovery and tourism promotion efforts. “Having ministers and deputy prime ministers deployed to different areas doesn’t mean we’re ignoring any region. Each official has their responsibilities, and we need to divide the work efficiently,” she stated.

paetongtarn chiangmai dec1 — Prime Minister Paetongtarn Shinawatra visits and takes photographs at the Commemorative Garden for the 82nd Birthday Anniversary during her visit to Chiang Mai on November 30, 2024.

Regarding her personal visit to the South, the Prime Minister explained that timing is crucial: “We need to consider the situation carefully. When I visit, local officials would need to organize reception protocols while dealing with floods. It’s more appropriate to wait until the situation stabilizes before making a site visit.”

“The government has been responsive – representatives and resources were dispatched immediately. Our flood response in the South has been swift, with aid reaching affected areas quickly. This is more important than any individual’s physical presence,” she emphasized.

The Prime Minister concluded by addressing regional concerns: “Please keep an open mind. Though I’m from the North, I’m married to a southerner, and many of my colleagues are from the South. This shouldn’t be dramatized. Everyone, regardless of their region, is Thai, and I promised to be a Prime Minister for all Thai people – a promise I intend to keep.

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Last-Minute Capture: Chinese Fugitive Nabbed at Suvarnabhumi Airport

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Khaosod English

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1 December 2024, 15:03

chinese fugitive42 — Immigration police arrested a Chinese national, identified as Mr. Chen Shuai, at Suvarnabhumi Airport's departure terminal on December 1.

SUVARNABHUMI — A Chinese national wanted on an Interpol Red Notice for an 11-million-baht luxury car fraud scheme was arrested at Bangkok’s Suvarnabhumi Airport as he attempted to flee to Cambodia.

Immigration police arrested a Chinese national, identified as Mr. Chen Shuai, 30, at Suvarnabhumi Airport’s departure terminal on December 1. The suspect was wanted on an Interpol Red Notice for fraudulent activities involving luxury used car sales and rentals in China between November 2022 and April 2023, causing damages worth 2.53 million yuan (approximately $354,200 or 11 million baht).

The arrest came following coordination between Thai and Chinese immigration authorities. Officials learned that the suspect planned to flee to Cambodia through Suvarnabhumi Airport on the morning of December 1. Immigration investigators intercepted him before he could check in for his flight. Further investigation revealed his permit to stay in Thailand had expired. He was transferred to Suvarnabhumi Police Station for legal proceedings.

Police Lieutenant General Choengron Rimpadee, Commander of Immigration Division 2 and Immigration Bureau spokesman, warned about an increasing trend of foreigners entering Thailand using passports from Vanuatu, Saint Lucia, and various island nations during the tourist season.

“Many arrive without return tickets or clear tourism purposes,” he noted. “These cases undergo thorough interviews, and those deemed security risks are denied entry.”

“We want to send a clear message through the media that Thai Immigration will not allow any foreigners to use Thailand as a hideout for escaping criminal charges or conducting front businesses for money laundering or other illegal activities,” Pol. Lt. Gen. Choengron emphasized.

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The New Battlefront Between Pheu Thai and People’s Party Will Be Fought in the Provinces

By

Pravit Rojanaphruk, Senior Staff Writer

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1 December 2024, 13:00

Having failed to form a government despite winning more votes and MP seats than any other party in last year’s general election, the main opposition party, now known as People’s Party, is now focused on trying to win local elections, or at least winning more votes in what is traditionally considered the turf of the ruling Pheu Thai Party.

The local election for the chief of Udon Thani Provincial Administrative Organization (PAO) which concluded last Sunday, November 24, saw the PP’s candidate losing out to Pheu Thai Party’s incumbent but yet making progress in gaining more supporters in what was otherwise traditionally the heartland of the Pheu Thai Party for the past two decades.

People’s Party was quick, and right, to point out on Tuesday following the loss that they (then known as Future Forward Party), gained only 148,850 votes, or 17.9 percent of the total votes when they competed for MP seats in the province back in 2019. A year later, in 2020, during the local election for the post of Udon Thani PAO chief, the party gained 26.7 percent of the total votes casted, or 185,804 votes. Last year it grew even more popular during the 2023 general election and managed to gain one MP seat with 295,097 votes, or 35 percent of the total voters’ turnout. And on Sunday, despite ex-convict-cum-former-premier Thaksin Shinawatra campaigning in person and helped win the PAO chief for his party’s candidate, Sarawut Petchapanomporn.

Meanwhile, Kanisorn Khurirang of People’s Party still managed to gain a decent 41.5 percent of the votes, or 268,675 votes, compared to the winner from the Pheu Thai Party, Sarawut, with 327,487 votes. This means we can expect that, increasingly, local elections will become an increasingly more important battle ground as PP will continue to find it daunting in forming a national government in the next general election due to their stance on the controversial lese majeste law and critical stance on the monarchy institution.

At local political level, it’s more about how one can make voters believe that the party’s candidate can improve the quality of life in the city and province and less about the lese majeste law and free speech, often seen by many local voters as far removed from their daily struggles.

The bread and butter issue, or rice and fish issue, basic infrastructures, and public services are what local elections are mostly about and People’s Party owe to people like Thanathorn Juangroongruangkit, and Pannika Wanich, for having done a lot of ground work over the years as co-leaders of the Progressive Movement in various provinces by visiting locals in various provinces to listen and exchange their views with the locals.

Two weeks ago, in mid November, the party introduced 12 PAO chief candidates for other provinces. It includes key provinces such as Phuket, Songkhla (parts of it currently severely affected by flood), Samut Prakan and Nonthaburi (two major provinces next to Bangkok, which are effectively part of greater Bangkok), and Chiang Mai, which is the home province of Thaksin.

This is an ambitious plan and the results will determine whether People’s Party can maintain its popularity under the new but much less charismatic leadership of Natthapong Ruangpanyawut or not.

During the Cold War, the Thai Communist Party thought they could deploy the strategy of surrounding the city (Bangkok) by the forests (the rural areas that support the party) and eventually taking over the control of the state.

Many decades later, the battle for political power and change are now being fought at the provincial level again with the fight for the post of PAO chiefs in many provinces across Thailand. Perhaps this is the backdoor for PP to gain political power and reform Thailand in accordance with PP’s ideology. The new battlefront will be in the provinces and fought one province at a time.

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Lopburi Hero Gets Stuck on Prang After Retrieving Tourist’s iPhone from Monkey

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Khaosod English

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1 December 2024, 02:49

LOPBURI — A French tourist expressed heartfelt gratitude to a local “Monkey City Hero” who volunteered to climb an ancient prang in central Lopburi to retrieve her iPhone from a mischievous monkey. The rescue mission on Saturday took an unexpected turn when the hero himself needed assistance getting down due to fear of heights.

Yut, a 40-year-old security volunteer at the famous Phra Prang Sam Yot landmark in Lopburi, sprang into action when he heard foreign tourists crying for help. The incident began when a monkey from the nearby Phra Kahn shrine grabbed the female tourist’s elephant pants drawstring, startling her and causing her to drop her iPhone. The monkey then quickly scaled the ancient structure with the device.

Without hesitation, Yut removed his shoes and pursued the monkey up the prang, impressing the French tourist and her parents with his climbing abilities. However, the situation became complicated when Yut, focused on the chase, suddenly realized he had climbed to a height of about 7 meters.

Looking down, Yut became visibly tense and remained frozen for nearly an hour as strong winds gusted around him. Concerned officials at the scene called for assistance from Tha Hin police station and rescue teams.

Police officers maintained constant communication with Yut to help calm his nerves. Rescue workers eventually brought in a long ladder, allowing him to descend safely. The iPhone was returned to the female tourist undamaged, prompting the grateful family to hail him as the “Monkey City Hero.”

iphone monkey2 — A French tourist family performs a traditional Thai ‘wai’ gesture to thank Yut, who climbed the Lopburi prang to retrieve their iPhone stolen by a monkey, November 30, 2024.

“When I was climbing up, I didn’t look down,” Yut later explained. “I’m not sure how I managed to get up that high. I was just focused on getting the iPhone back.”

“I’ve retrieved tourists’ belongings from monkeys many times before, but never from such a height or in such strong winds. This time was so nerve-wracking I couldn’t look down without feeling faint,” he added.

The French family showed their appreciation by rewarding Yut with 1,200 baht and praised his bravery, dedication to tourists’ welfare, and the overall helpfulness of the police officers and Lopburi residents.

iphone monkey5 — Which one of these monkeys stole the tourist’s iPhone?

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Trump Threatens 100% Tariff on the BRIC Bloc of Nations If They Act to Undermine US dollar

By

Associated Press

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1 December 2024, 01:24

dollar — FILE - President-elect Donald Trump speaks during a meeting with the House GOP conference, Nov. 13, 2024, in Washington. (Allison Robbert/Pool via AP, File)

WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar.

His threat was directed at countries in the so-called BRIC alliance, which consists of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates.

Turkey, Azerbaijan and Malaysia have applied to become members and several other countries have expressed interest in joining.

While the U.S. dollar is by far the most-used currency in global business and has survived past challenges to its preeminence, members of the alliance and other developing nations say they are fed up with America’s dominance of the global financial system.

The dollar represents roughly 58% of the world’s foreign exchange reserves, according to the IMF and major commodities like oil are still primarily bought and sold using dollars. The dollar’s dominance is threatened, however, with BRICS’ growing share of GDP and the alliance’s intent to trade in non-dollar currencies — a process known as de-dollarization.

Trump, in a Truth Social post, said: “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy.”

At a summit of BRIC nations in October, Russian President Vladimir Putin accused the U.S. of “weaponizing” the dollar and described it as a “big mistake.”

AP24333552871468 — A pedestrian walks in a street near an exchange office sign showing the currency exchange rates of the Russian ruble, U.S. dollar, and euro in Moscow, Russia, Thursday, Nov. 28, 2024. (AP Photo/Pavel Bednyakov)

“It’s not us who refuse to use the dollar,” Putin said at the time. “But if they don’t let us work, what can we do? We are forced to search for alternatives.”

Russia has specifically pushed for the creation of a new payment system that would offer an alternative to the global bank messaging network, SWIFT, and allow Moscow to dodge Western sanctions and trade with partners.

Trump said there is “no chance” BRIC will replace the U.S. dollar in global trade and any country that tries to make that happen “should wave goodbye to America.”

Research shows that the U.S. dollar’s role as the primary global reserve currency is not threatened in the near future.

An Atlantic Council model that assesses the dollar’s place as the primary global reserve currency states the dollar is “secure in the near and medium term” and continues to dominate other currencies.

Trump’s latest tariff threat comes after he threatened to slap 25% tariffs on everything imported from Mexico and Canada, and an additional 10% tax on goods from China, as a way to force the countries to do more to halt the flow of illegal immigration and drugs into the U.S.

He has since held a call with Mexican President Claudia Sheinbaum, who said Thursday she is confident that a tariff war with the United States can be averted. Canadian Prime Minister Justin Trudeau returned home Saturday after meeting Trump, without assurances the president-elect will back away from threatened tariffs on Canada.

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The ฿10,000 Scheme Plays Important Roles in Thai Economy Recovery

By

Khaosod English

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30 November 2024, 23:51

10000baht-4 — People in Buriram Province who received the 10,000 baht government stimulus payment queue up at ATMs to withdraw their money on September 25, 2024.

BANGKOK — Thailand’s central bank highlights “tourism and money transfer measures” as impetus for economic recovery in October

The Bank of Thailand (BOT) reports that the Thai economy showed signs of recovery in October 2024 compared to the previous month, driven by increased tourism receipts and improved private consumption. The positive impact of the government’s cash transfer measure of 10,000 baht also contributed to this.

Looking ahead, the BOT expects continued economic momentum in the tourism and service sectors, but advises that geopolitical tensions, US trade policy and measures to stimulate the domestic economy should be closely monitored.

On November 29, Ms. Chayawadee Chai-Anant, Deputy Governor of Corporate Relations Line and BOT spokesperson, said that Thailand’s economy improved in October due to continued growth in tourism revenue and private consumption. The cash transfer measure of 10,000 baht played an important role in this recovery, as did the increase in trade activities.

Industrial production also increased, driven by exports (excluding automobiles) and stronger domestic demand. Government spending increased in both current and capital expenditure. However, some sectors remained sluggish due to structural challenges and lower competitiveness.

The number of foreign tourists increased by 2.8 percent month-on-month in October 2024, reaching 2.7 million, compared to 2.5 million in September. While tourist arrivals from Malaysia and China declined due to domestic factors, arrivals from South Korea, Singapore and long-haul markets such as the US, UK and Germany continued to grow. This led to seasonally adjusted growth in tourism receipts, supported by longer stays and slightly higher daily spending by European visitors.

Seasonally adjusted private consumption rose by 0.8 percent in all categories compared to the previous month. The cash transfer of 10,000 baht was a key driver, leading to higher spending in:

Non-durable goods, such as fuel, consumer products, beverages, snacks, and tobacco.
Durable goods, such as motorcycles and personal vehicles.
Semi-durable goods, particularly imported textiles and clothing, including apparel.
Services, particularly in the hotel and restaurant sectors, aligning with increased domestic and international tourism spending.

The consumer confidence index also rose slightly, supported by government stimulus measures and reduced concerns about flooding.

Seasonally adjusted private investment rose by 4.5 percent month-on-month across key sectors. Machinery and equipment investment grew due to:

Increased imports of capital goods, particularly general-purpose machinery, electric motors, and vessels.
Higher domestic sales of machinery and equipment.
An uptick in commercial vehicle registrations, including tractors.

Construction investment increased due to higher sales of construction materials (e.g., cement, concrete slabs, and bricks) and improved construction permits for residential and industrial purposes.

Government expenditure (excluding transfers) expanded year-on-year, driven by both current and investment spending. Current spending rose due to disbursements for education-related expenses, pensions, and healthcare for civil servants. Investment spending increased significantly, with disbursements for transportation and education projects. State enterprise investment also grew, particularly in communications and utilities projects.

egg1 — Bangkok’s Phaholyothin Soi 18 omelette vendor hasn’t hiked prices.

The inflation rate rose from 0.61 percent in the previous month to 0.83 percent, mainly due to the low base effect of last year’s government subsidies in the energy sector. Fresh food prices declined, especially for vegetables, as supply recovered after the flooding. Core inflation remained stable, with rising food prices offset by lower prices for personal items.

As in the previous month, the current account surplus amounted to 0.7 billion dollars. While the trade surplus narrowed to 1.4 billion dollars due to rising imports, the deficit in services, income and transfers narrowed due to lower profits.

The Thai baht weakened against the U.S. dollar in October 2024 due to uncertainty surrounding the Federal Reserve’s interest rate cuts and upcoming U.S. elections. The baht continued to depreciate in November following the U.S. presidential election results, as market expectations suggested that Donald Trump’s proposed economic stimulus policies might sustain high inflation, limiting the Fed’s ability to lower interest rates as previously anticipated.

Economic activity is expected to gain further momentum through tourism and the service sector, while exports and industrial production will gradually recover. However, some sectors are facing persistent structural and competitive challenges, leaving corporate and household incomes vulnerable in certain segments.

Key issues to watch include:

Geopolitical tensions and US trade policy, which may impact exports and production.
The effectiveness of government stimulus measures.

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