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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Agencies
March 31,2020

Months after the outbreak of COVID-19 in Wuhan city of central China, families of those deceased, who contracted the contagious infection, stood in long queues at funeral homes demanding to receive the cremated ashes of their loved ones.

Now this has spurred questions about the actual tally of COVID-19 related casualties in Wuhan, in a renewed pressure on the Chinese government that is already struggling to control its containment narrative of the pandemic spread.

Chinese media outlet Caixin showed how trucks carrying 2,500 urns with the ashes of the deceased COVID-19 cases were being shipped in a funeral home last week. Another picture published revealed how 3,500 urns were stacked within these funeral homes. It is therefore unclear how many urns have been filled in.

According to media reports, workers at several funeral parlors declined to provide any details as to how many urns were waiting to be collected, saying they either did not know or were not authorised to share the number.

Some families said they had been forced to wait for several hours to pick up the ashes. The photos circulated as mass deaths from the virus spiked in cities across the west, including Milan, Madrid and New York, where hospitals were erecting tents to handle the overflow as global infections soar past 500,000, with 24,000 dead.

According to Chinese government figures, 2,535 people in Wuhan have died of the virus. The announcement that a lockdown in place since January would be lifted came after the country said its tally of new cases had hit zero and stepped up diplomatic outreach to other countries hard hit by the virus, sending some of them medical supplies.

But some in China have been skeptical of the accuracy of the official tally, particularly given Wuhan's overwhelmed medical system, authorities' attempts to cover up the outbreak in its initial stages, and multiple revisions to the way official cases are counted.

Residents on social media have demanded disciplinary action against top Wuhan officials.

Many people who died had Covid-19 symptoms, but weren't tested and excluded from the official case tally, Caixin said. There were also patients who died of other diseases due to a lack of proper treatment when hospitals were overwhelmed dealing with those who had the coronavirus.

There were 56,007 cremations in Wuhan in the fourth quarter of 2019, according to data from the city's civil affairs agency. The number of cremations was 1,583 higher than those in the fourth quarter of 2018 and 2,231 higher than the fourth quarter of 2017.

Two locals in Wuhan who have lost family members to the virus said online that they were informed they had to be accompanied by their employers or officials from neighborhood committees when picking up the urns, likely as a measure against public gatherings.

COVID-19 is affecting 199 countries and territories around the world. Over 664,000 coronavirus cases have been registered globally out of which 30,890 have succumbed to the infection.

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Agencies
August 3,2020

New York, Aug 3: The number of coronavirus cases confirmed all over the world has surpassed 18 million, while the global COVID-19 death toll stands at over 687,000 according to data from the Johns Hopkins University's Coronavirus Resource Center.

As of 06:00 Moscow time on Monday (03:00 GMT), there are 18,017,556 confirmed coronavirus cases in the world. The global death toll from COVID-19 stands at 687,930. The number of recovered individuals stands at 10,649,108.

The United States remains the country with the largest number of cases (4,665,932) and the highest COVID-19 death toll (154,841), according to the latest data from the Johns Hopkins University.

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News Network
May 6,2020

Washington, May 6: At a time when the coronavirus pandemic has squeezed them, multi-national companies in America are laying off workers while paying cash dividends to their shareholders. Thus making the workers bear the brunt of the sacrifices while the shareholders continue to collect.

The Washington Post said in one of its reports that five big American companies have paid a combined USD 700 million to shareholders while cutting jobs, closing plants and leaving thousands of their workers filing for unemployment benefits.

Since the pandemic was declared an emergency, Caterpillar has suspended operations at two plants and a foundry, Levi Strauss has closed stores, and toolmaker Stanley Black & Decker has been planning layoffs and furloughs.

Steelcase, an office furniture manufacturer, and World Wrestling Entertainment have also shed employees.

Executives of those companies told the Post that the layoffs support the long-term health of their companies, and often the executives are giving up a piece of their salaries. Furloughed workers can apply for unemployment benefits.

But distributing millions of dollars to shareholders while leaving many workers without a paycheck is unfair, critics argue, and belies the repeated statements from executives about their concern for employees' welfare during the coronavirus crisis.

Caterpillar, for example, announced a USD 500 million distribution to shareholders April 8, about two weeks after indicating that operations at some plants would stop. The company however declined to divulge how many workers are affected.

"We are taking a variety of actions globally, but we aren't going to discuss the number of impacted people," spokeswoman of the company, Kate Kenny, said in a reply to an email by the Post.

This spate of dividends is also likely to revive long-standing debates about economic rewards.

"There are no hard-and-fast rules about this," said Amy Borrus, deputy director of the Council of Institutional Investors, a group that argues for shareholder rights and represents pension funds and other long-term investors.

Many large US companies choose to issue a regular, quarterly dividend to shareholders, often increasing it, and they boast about these payments because they help keep the share price higher than it might otherwise be. Those companies might be reluctant to announce that they are cutting or suspending their dividend during a crisis, Borrus was further quoted as saying.

But "companies have to be mindful of the optics of paying dividends if they're laying off thousands of workers," she added.

On March 26, Caterpillar had announced that because of the pandemic, it was "temporarily suspending operations at certain facilities." Two plants, in East Peoria, Ill., and Lafayette, Ind., were coming to a halt, as well as a foundry in Mapleton, Ill., according to news reports.

"We are taking a variety of actions at our global facilities to reduce production due to weaker customer demand, potential supply constraints and the spread of the covid-19 pandemic and related government actions," Kenny said via email.

"These actions include temporary facility shutdowns, indefinite or temporary layoffs," she added.

Similarly, Levi Strauss announced April 7 that the company would stop paying store workers, and about 4,000 are now on furlough. On the same day, the company announced that it was returning USD 32 million to shareholders.

"As this human and economic tragedy unfolds globally over the coming months, we are taking swift and decisive action that will ensure we remain a winner in our industry," Chip Bergh, president and chief executive of the company, also told the Post.

Stanley Black & Decker announced on April 2 that it was planning furloughs and layoffs because of the pandemic. Two weeks later, it issued a dividend to shareholders of about USD 106 million.

The notion that a company's primary purpose is to serve shareholders gained prominence in the 1980s but has come under attack in recent years, even from business executives, the newspaper reported.

Corporate decisions to suspend dividends and buybacks are complex, however, and it is difficult to know whether these suspensions of dividend and buyback programs were motivated by a desire to conserve cash in anticipation of bad times, and how much they are prompted by a sense of obligation to employees.

Over recent decades, the mandate to "maximize shareholder value" has become orthodoxy, for many, and it is often unclear what motivates companies to pare dividends or buybacks for shareholders, said William Lazonick, an emeritus economics professor at the University of Massachusetts at Lowell, who has been one of the leading critics of companies that distribute cash to shareholders through stock buybacks and dividends rather than reinvesting the profits into employees, innovation and production.

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