Thai princess disqualified from list of candidates for PM

Agencies
February 11, 2019

Bangkok, Feb 11: Thai Princess Ubolratana was on Monday formally disqualified for running for prime minister, ending her brief and ill-fated political union with a party allied to the powerful Shinawatra clan, just days after a stern royal command rebuking her candidacy was issued by her brother, the king.

Uncertainty and conjecture have coursed through Thailand since Friday when the Thai Raksa Chart party made the explosive announcement of Princess Ubolratana, King Maha Vajiralongkorn's elder sister, as their candidate for premier after the March 24 election.

Her tilt appeared to some to be a masterstroke of back-room dealings by Thaksin Shinawatra, the billionaire self-exiled ex-premier, just weeks before the poll.

But just hours later it fell apart.

A royal command from the king put a pin in her unprecedented political aspirations, insisting the monarchy was above politics and describing his sister's candidacy as "highly inappropriate".

Thailand's incredibly wealthy and powerful monarchy is revered by Thais and protected by a draconian lese majeste law. The king's word is seen as final.

On Monday the Election Commission formally scratched her candidacy.

"The EC today has announced the name of candidates excluding Princess Ubolratana proposed by the Thai Raksa Chart party," it said in a statement, explaining "all royal family members are above politics." 

Despite its brevity, the princess's foray into politics has electrified the political landscape of the country, as speculation over who wins and loses from her tilt ricochets across the kingdom.

Chatter of an impending coup against the ruling junta leader Prayut Chan-O-Cha and a major change in army top brass has billowed out, with the hashtag #coup trending in the top 10 on Thai Twitter.

On Monday junta chief Prayut on Monday was forced to dismiss rumours of an impending coup as "fake news".

"Rumours...? We're investigating. Fake news," he told reporters at Government House.

The gruff former general, masterminded a putsch against the government of Yingluck Shinawatra, Thaksin's sister, in 2014.

Meanwhile, a chastened Thai Raksa Chart, a key pillar in Thaksin's election strategy, agreed to comply with the royal command.

It may face censure by election authorities that could ultimately see it dissolved, although it was not clear if any ban could be in place before the election takes place.

Thailand's generals have a penchant for coups, backroom plotting and factional struggles.

They have grabbed power 12 times since the end of absolute monarchy in 1932, including against existing juntas seen to have over-stepped their mark.

Prayut has agreed to stand for premier after the election and is aided by an army-scripted constitution.

But critics say he has personalised power and outstayed his welcome with a public wearied by his finger-jabbing style.

The king appointed a new army chief, Apirat Kongsompong, last year from a rival faction of the army to Prayut and his junta allies.

Recent days have seeded unease, with the first election in eight years now seemingly dependent on behind-the-scenes power plays by the elite.

Meanwhile, the fate of Thai Raksa Chart hangs in the balance.

The party, a second to the Thaksin political powerhouse Pheu Thai, was expected to help the Shinawatra machine secure a majority in the 350-seat lower house.

But it is under intense pressure following its bid to bring in the princess.

"I think the party leader and board should take a responsibility by resigning," said Srisuwan Janya of the Association for the Protection of the Constitution, a royalist activist group, who submitted a petition to election authorities Monday calling for the party's censure.

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News Network
July 27,2020

Tokyo, Jul 27: Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe-haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.

MSCI's ex-Japan Asia-Pacific index rose 1.3 percent as Taiwan's TSMC, Asia's third-largest company by market capitalisation, rose almost 10 percent.

The chipmaker's gains boosted other tech stocks in the region and came after rival Intel signalled it may give up manufacturing its own components due to delays in new 7-nanometer chip technology.

Also soothing sentiment, Chinese shares eked out gains after big falls late last week, with CSI300 index rising 0.5 percent.

S&P500 futures were last up 0.4 percent in choppy trade while Japan's Nikkei fell 0.5 percent, resuming trade after a long weekend and catching up with falls in global shares late last week.

Global shares had lost steam last week after Washington ordered China's consulate in Houston to close, prompting Beijing to react in kind by closing the US consulate in Chengdu.

US Secretary of State Mike Pompeo took fresh aim at China last week, saying Washington and its allies must use "more creative and assertive ways" to press the Chinese Communist Party to change its ways.

"US President (Donald) Trump used to say China's President Xi Jinping is a great leader. But now Pompeo's wording is becoming so aggressive that markets are starting to worry about further escalation," said Norihiro Fujito, chief investment strategist at Mitsubishi Securities.

Gold rose 1.0 percent to a record high of $1,920.9 per ounce, surpassing a peak touched in September 2011, as Sino-US tensions boosted the allure of safe-haven assets, especially those not tied to any specific country.

The yellow metal is also helped by aggressive monetary easing adopted by many central banks around the world since the pandemic plunged the global economy into a recession.

Some investors fret such an unprecedented level of money-printing could eventually lead to inflation.

MORE STIMULUS

Hopes of a quick US economic recovery are fading as coronavirus infections showed few signs of slowing.

That means the economy could capitulate without fresh support from the government, with some of earlier steps such as enhanced jobless benefits due to expire this month.

Investors hope US Congress will agree on a deal before its summer recess but there are some sticking points including the size of the stimulus and enhanced unemployment benefits.

US Treasury Secretary Steve Mnuchin said the package will contain extended unemployment benefits with 70 percent "wage replacement".

Democrats, who control the House of Representatives, want enhanced benefits of $600 per week to be extended and look to much bigger stimulus compared with the Republicans' $1 trillion plan.

Investors are looking to corporate earnings from around the world for hints on the pace of recovery in the global economy.

"It looks like rising coronavirus cases are starting to slow down recovery in many countries," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.

Concerns about the US economic outlook started to weigh on the dollar, reversing its inverse correlation with the economic well-being over the past few months.

The dollar index dropped 0.3 percent to its lowest level in nearly two years.

The euro gained 0.3 percent to $1.1693, hitting a 22-month high of $1.16590 as sentiment on the common currency improved after European leaders reached a deal on a recovery fund in a major step towards more fiscal co-operation.

Against the yen, the dollar slipped 0.5 percent to 105.605 yen, a four-month low while the British pound hit a 4 1/2-month high of $1.2832.

Oil prices dipped on worries about the worsening Sino-US relations.

Brent futures fell 0.46 percent to $43.14 per barrel while US crude futures lost 0.44 percent to $41.11.

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News Network
May 12,2020

May 12: Gunmen stormed a hospital on Tuesday in an ongoing attack in the Afghan capital Kabul, as a suicide blast killed 15 people at a funeral in the country's restive east.

Special forces rescued 80 people including mothers and babies from the Kabul hospital after three gunmen launched a morning assault, killing at least four people, the interior ministry said in a statement.

Heavily armed forces were seen carrying babies wrapped in blankets away from the scene, as the clearance operation continued.

The facility, which has a large maternity ward, is located in the west of the city, home to the capital's minority Shiite Hazara community -- a frequent target of Sunni militants from the Islamic State group.

The flare-up in violence comes as Afghanistan grapples with myriad crises including a rise in militant operations across the country and a surge in coronavirus infections.

A paediatrician who fled the hospital told AFP he heard a loud explosion at the entrance of the building.

"The hospital was full of patients and doctors, there was total panic inside," he said, asking not to be named.

The maternity services at the hospital are supported by humanitarian organisation Doctors Without Borders (MSF).

"Hospitals and health workers must not be attacked. We call on all sides to stop attacking hospitals and health workers," said deputy health minister in the city, Waheed Majroh.

Around an hour later, a suicide bomber killed at least 15 people at the funeral of a local police commander in the country's eastern Nangarhar province, according to provincial spokesman Ataullah Khogyani.

The attacker detonated his explosives in the middle of the ceremony.

Zaher Adel, spokesman for the government hospital in Jalalabad, earlier said 12 bodies had arrived from the blast site and more than 50 people were being treated for injuries.

Amir Mohammad, who was wounded in the blast, said thousands of people had gathered for the funeral, an event which often draws huge crowds in Afghanistan.

The violence comes just a day after four roadside bombs exploded in a northern district of Kabul, wounding four civilians including a child.

The bombings were later claimed by the Islamic State group, according to the SITE intelligence group.

They were just the latest in a string of IS attacks on the capital.

In March, at least 25 people were killed by a gunman at a Sikh temple in Kabul, which was later claimed by the group.

IS is also responsible for an infamous attack in March 2017 on one of the country's largest hospitals, when gunmen disguised as doctors stormed the Kabul building and killed dozens.

In recent months, the jihadist group has suffered mounting setbacks after being hunted by US and Afghan forces as well as Taliban offensives targeting their fighters, but it still retains the ability to launch major assaults on urban centres.

The Taliban have largely refrained from launching large attacks on Afghan cities since February when they signed a landmark withdrawal deal with the US meant to pave the way for peace talks with the Kabul government.

Under the agreement, the Taliban promised not to target forces from the US-led coalition, but made no such pledge toward Afghan troops and have stepped up attacks in the provinces.

The Taliban have denied involvement in both of Tuesday's attacks.

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News Network
June 3,2020

Islamabad, Jun 3: Pakistan has reported a record 4,132 fresh cases of the coronavirus in the last 24 hours, taking the total number of infections to 80,463, the health ministry said on Wednesday.

The Ministry of National Health and Services said the new infections were detected after conducting a maximum of 17,370 tests in a day.

Of the total cases, Sindh has so far detected 31,086 patients of the coronavirus, Punjab 29,489, Khyber-Pakhtunkhwa 10,897, Balochistan 4,747, Islamabad 3,188, Gilgit-Baltistan 779 and Pakistan-occupied Kashmir reported 289 patients of the viral disease.

"In total 67 patients died in the last 24 hours, taking the tally of deaths to 1,688. Another 28,923 people have fully recovered from the disease," the ministry said in a statement.

The authorities have so far carried out 595,344 tests in the country.

Officials said that Pakistan has more than 100 labs that can conduct over 30,000 tests per day and the number of daily tests will be gradually increased to the maximum level.

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