Eyebrows raised over CDA selections
Well-known personalities such as former senators, activists and academics were elected to be part of the 200 nominees for the Constitution Drafting Assembly (CDA) yesterday, but some of the biggest winners were virtually unknown names that raised eyebrows in the National People's Assembly (NPA).
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Stock investment to be exempted : Pridiyathorn
Finance Minister Pridiyathorn Devakula said Tuesday the central bank would exclude inflows into the stock market from the Bank of Thailand's drastic measure of 30 per cent reserve withholding requirement.
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BLACK TUESDAY ANALYSIS
Pridiyathorn's big gamble
MR Pridiyathorn Devakula, a deputy prime minister and the finance minister, and the banking authorities have made a big mistake by introducing wholesale capital controls instead of selective controls on the money market to stem the baht speculation.
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STOCK CRISIS
It's Black Tuesday
It's Black Tuesday. In a single trading day, the Thai stock market lost Bt800 billion in paper wealth as its key SET index plunged by a record 14.84 per cent - the worst since Black Monday in 1987.
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Thai capital control would have no sudden impact : S & P
Thailand's imposition of capital controls to curb its currency appreciation won't have an immediate impact on the country's credit ratings, but the new measures will have long-term economic costs, a senior credit analyst at Standard and Poor's Ratings Services told Down Jones Tuesday.
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Stock market loses Bt500 billion in value : SEC
Thirachai Phuvanatnaranubala, secretary general of the Securities and Exchange Commission, said that the Bank of Thailand's new measure has reduced the SET's market capitalisation by as large as Bt500 billion.
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Central Bank should cut requirement on capital inflows : Teerana
The central bank has to cut reserve requirement on capital inflows from 30 to around three to five per cent to lessen the drastic measures, said Teerana Bhongmakapat, an economist at Chulalongkorn University.
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Asian stocks punished as Thai govt spooks investors with capital controls
Hong Kong - Asian stocks were broadly lower Tuesday, with investors spooked by the worst ever losses in Bangkok where the military government imposed capital controls reminiscent of the 1997 Asian financial crisis.
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Pridyathorn, Kosit back measures despite SET plunge
Finance Minister MR Pridiyathorn Devakula as well as Commerce Minister Kosit Panpiemras gave a full support the Bank of Thailand's anti-speculation measure saying it is a good measure, although the measure may bring about significant shortterm impact to the stock market.
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Stock index still plunge after SET resume trading
The SET resumes stock trading at noon. The SET index fell further by 13.74 per cent or 100.37 points to 630.18 at 12.12pm. Bank of Thailand has asked all brokerage companies to discuss about the issue on 1.30pm.
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