Thailand’s military-installed government plans to clarify the country’s ambiguous foreign ownership laws but has not indicated whether it will liberalise or tighten existing ownership restrictions.
Thaksin Shinawatra, Thailand’s deposed former prime minister, plans to return home when martial law ends, and might re-enter the political fray once a new constitution is adopted, his lawyer said.
Thailand’s new cabinet confirmed Tarisa Watanagase as the new governor of the Bank of Thailand.
Thailand’s Thai Rak Thai (Thais love Thais) party of ousted prime minister Thaksin Shinawatra began to fracture as 70 members of parliament resigned en masse.
Though its exports are still robust, Thailand’s economy is suffering, with business and consumer confidence in the doldrums. Growth this year is estimated at a mere 4 per cent.
Thailand’s former army chief, appointed interim prime minister of the deeply divided country, pledged immediately to put the pursuit of ‘people’s happiness’ over economic growth.
Thailand’s $4bn new international airport, a pet project of now deposed prime minister Thaksin Shinawatra, opened for commercial traffic, despite serious teething problems with its baggage handling system, as the military signaled its intent to return to business as usual.
Thailand’s military rulers said that they were looking into whether arson attacks against four schools in northern Thailand were acts of resistance by supporters of Thaksin Shinawatra.
The leaders of Thailand’s military coup sought to shore up confidence in the country’s flagging economy by naming the central bank governor as chief of a high-powered economic advisory team.
Despite the relatively peaceful nature of last week’s coup, globally televised images of tanks rolling through the streets of Bangkok did prompt some Asian holidaymakers and business travellers to rethink their immediate plans.