thegreglowe.com

GREG LOWE in Bangkok
Thailand’s opposition party hammered the government’s new Cabinet line up, which was released yesterday. Appointments were made to satisfy internal power cliques not to serve the country and its people, it said.
Prime Minister Somchai Wongsawat heads a six-party coalition government, led by his People Power Party (PPP), whose new Cabinet was royally [...]

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By GREG LOWE
IN BANGKOK
AMERICA’S financial crisis and the Lehman Brothers bankruptcy will dampen Bangkok property prices, a leading economist said yesterday.
Lehman’s went bankrupt on Sept 15 with 50 billion baht (S$2.1 billion) of assets in Thailand, 80 per cent of which was in property.
Any related sell-off of its assets is likely to devalue the market, [...]

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GREG LOWE in Bangkok
Anti-government protestors weakened their political demands yesterday in a move welcomed by Thailand’s major parties. But more detail is needed for informed debate, said an analyst.
The People’s Alliance for Democracy (PAD) has occupied Government House since August 26, demanding the ouster of the ruling People Power Party (PPP). It accuses PPP of [...]

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By GREG LOWE
IN BANGKOK
THAILAND’S Parliament elected Somchai Wongsawat as prime minister yesterday, but the new premier will be ‘under the gun from day one’, according to a leading political observer.
Mr Somchai became Thailand’s 26th prime minister with a clear majority after winning 298 votes, while opposition Democrat leader Abhisit Vejjajiva won 163 votes. There were [...]

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By GREG LOWE
IN BANGKOK
THAILAND’S ruling party ended two days of intense negotiations yesterday by unanimously backing Acting Prime Minister Somchai Wongsawat as its candidate for premier.
Last Tuesday, the Constitutional Court sacked Prime Minister Samak Sundaravej over a conflict of interest concerning payments he received for hosting TV cooking programmes.

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By GREG LOWE
IN BANGKOK
THAILAND’S government faces serious trouble if the ruling People Power Party (PPP) cannot agree on its prime ministerial candidate before Parliament votes on the matter tomorrow, a party spokesman said yesterday.
The Constitutional Court sacked Prime Minister Samak Sundaravej last week over a conflict of interest for receiving payments for hosting TV cooking [...]

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By GREG LOWE
IN BANGKOK
DEPOSED Thai Prime Minister Samak Sundaravej’s bid for re-election suffered a blow yesterday when Parliament was forced to postpone its selection of a new premier after a no show from ruling coalition MPs prevented a quorum.
The ruling People Power Party (PPP) re-selected Mr Samak as its candidate for prime minister on Thursday, [...]

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By GREG LOWE
IN BANGKOK
THAILAND’s deposed prime minister was re-nominated for the position by his ruling party yesterday in a move that both the opposition and analysts say will escalate the political crisis. He, on his part, appears determined not to give in to the so-called ‘Bangkok elite’ that is bent on driving him out of [...]

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By GREG LOWE
IN BANGKOK
THAILAND’S banking sector can weather the global credit crunch, but domestic political instability continues to threaten its economy, finance observers said yesterday.
The industry’s sound credit fundamentals, net external debt position, and strong capitalisation will allow it to ride out the global slowdown, speakers at rating agency Fitch Thailand’s annual conference said. However, [...]

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By GREG LOWE
IN BANGKOK
PRIME Minister Samak Sundaravej was forced to resign yesterday for violating the Thai Constitution, over payments he received for hosting TV cooking programmes.
The Thai Constitutional Court’s unanimous verdict found the payments breached Article 267 of the 2007 charter, which bans ministers from holding outside economic interests.

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