YANGON (Reuters) – Banks in Myanmar bought hundreds of millions of dollars in the black market this year, banking sources said, in a resurgence of an unregulated trade that flourished under military rule and has raised fears among foreign investors of backsliding on reforms.
Lenders say they were forced to turn to unlicensed brokers for scarce dollars to keep the wheels of trade turning, as the central bank’s efforts to prop up the kyat currency threatened to freeze up the nascent financial system.
YANGON, Oct 20 (Reuters) – Banks in Myanmar bought hundreds
of millions of dollars in the black market this year, banking
sources said, in a resurgence of an unregulated trade that
flourished under military rule and has raised fears among
foreign investors of backsliding on reforms.
Lenders say they were forced to turn to unlicensed brokers
for scarce dollars to keep the wheels of trade turning, as the
central bank’s efforts to prop up the kyat currency threatened
to freeze up the nascent financial system.
BANGKOK, Oct 7 (Reuters) – Billions of dollars of government
stimulus should push Thailand’s economic growth above 3 percent
in 2016, the finance minister said on Wednesday, but a decade of
political turmoil has left the economy in need of wide-ranging
Prime Minister Prayuth Chan-ocha sacked his economic team in
August, and has demanded their sucessors move quickly to
reinvigorate the poorest-performing emerging market economy in
KHON KAEN, Thailand, Oct 1 (Reuters) – The rural heartland
of Thailand’s deposed leader Yingluck Shinawatra and her exiled
billionaire brother Thaksin is hurting as a result of the
military government’s economic policies, stirring discontent and
the threat of protests.
The removal of generous agricultural subsidies has left rice
farmers in northeast Thailand struggling with mounting debts,
and they will get little relief when they sell their crop in
coming months with rice prices near an 8-year low.
BANGKOK (Reuters) – Boosting rural incomes is an urgent priority for the new economic team of Thailand’s military government and will do more to revive a flagging economy than a rate cut, the deputy prime minister said on Monday.
Farmers are feeling the pinch a year and a half after the military government took power and ended generous agricultural subsidy schemes. A drought has exacerbated the sharp fall in rural incomes and hurt consumption.
UDON THANI, Thailand, Sept 20 (Reuters) – From self-imposed
exile, the influential leader of Thailand’s rural “red shirt”
opposition movement has delivered a simple message to followers
chafing at the military junta’s iron rule: lay low for now,
don’t panic, “play dead”.
Billionaire former Prime Minister Thaksin Shinawatra,
long-time political leader of the north’s disenfranchised
electorate, is watching events at home closely and urging
patience from those who want to see his allies return to power.
BANGKOK (Reuters) – Police probing Thailand’s deadliest bombing raided a second location and widened their search for more suspects on Sunday after a foreigner was arrested and stacks of fake passports and bomb-making materials found at a Bangkok apartment block.
Authorities said police were monitoring about 1,000 mobile phone numbers and checking photographs used in around 200 seized passports to track down members of an unspecified group they believe orchestrated the Aug. 17 attack on a Hindu shrine in Bangkok. The bombing killed 20 people and stunned Thailand.
BANGKOK (Reuters) – The evidence seized by police investigating Thailand’s deadliest bombing includes an apparently damning trove of explosives, fertilizer, and piles of fake passports, but the shabby-looking foreigner they arrested on Saturday remains a mystery.
There has been no word of his nationality, affiliation or whether the evidence seized in a shabby Bangkok apartment block amounts to a smoking gun for the attack on a crowded downtown shrine that killed 20 people two weeks ago.
BANGKOK (Reuters) – Thai police said they arrested a foreigner on Saturday who matched the description of a man who left a bag at the site of a Bangkok blast that killed 20 people nearly two weeks ago.
Police raided a decaying four-floor apartment block in a suburb of the capital and found “multiple” fake passports and bomb-making materials they said may have been used in the Aug. 17 bombing at a Hindu shrine, the deadliest in the country’s history.
NAYPYITAW/YANGON (Reuters) – Myanmar President Thein Sein had tried and failed at least twice before to topple his arch-rival Shwe Mann, but when armed police burst into the headquarters of the country’s ruling party late on Aug. 12 he finally succeeded.
Police piled the mobile phones and computers from those inside on a desk and then stood by as the president’s supporters met to enact an order from the president to replace Shwe Mann as chairman of the Union Solidarity and Development Party (USDP).