First coins bearing portrait of Britain’s King Charles unveiled

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First coins bearing portrait of Britain's King Charles unveiled

First coins bearing portrait of Britain’s King Charles unveiled

FRIDAY, SEPTEMBER 30, 2022

The Royal Mint unveiled on Thursday the official coin effigy of Britain’s new King Charles. The first coins to bear the king’s portrait are a special five-pound crown and the reverse of a 50-pence coin commemorating the life of Queen Elizabeth II.

The effigy was created by British sculptor Martin Jennings from a photograph and was personally approved by the new King. In keeping with tradition, the portrait of Charles faces in the opposite direction of that of his mother.

The reverse of the five-pound coin features two new portraits of Queen Elizabeth while the reverse of the 50-pence coin features a design that originally appeared on the 1953 Coronation Crown.

Chris Barker, information and research manager at the Royal Mint, said Jennings had managed to achieve “a real warmth and humanity” in the portrait of Charles.

“It’s a little bit different to what you might have got with Queen Elizabeth II, particularly her first coinage portrait from the 1950s where it was very idealised, this is much more humane in regards to Charles, it’s much more the man himself and you are also seeing the age of Charles coming across in a dignified and graceful way,” said Barker.

All of the approximately 27 billion coins currently circulating in the UK bearing the effigy of Queen Elizabeth will remain legal tender and will be replaced by coins bearing the image of Charles over time.

Reuters

Prayut tenure ruling a boon for Thai economy, says TCC chief

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Prayut tenure ruling a boon for Thai economy, says TCC chief

Prayut tenure ruling a boon for Thai economy, says TCC chief

FRIDAY, SEPTEMBER 30, 2022

Business leaders hailed General Prayut Chan-o-cha’s restoration as prime minister as a big boost for the Thai economy on Friday.

Sanan Angubolkul, chairman of the Thai Chamber of Commerce (TCC), said the Constitutional Court verdict earlier in the day would spur the confidence of both domestic and overseas investors. The government could now get back to work, approving budgets and making policy decisions, he explained.

The court ruled that Prayut had not served his maximum eight-year term as stipulated in the current charter and could remain as prime minister until 2025.

“That is a positive sign for efforts towards economic recovery as the work can now resume. The prime minister can return to work and has full authority, as before,” Sanan said.

Also, the Thai delegation at the Asia-Pacific Economic Cooperation (Apec) summit, to be held in Bangkok in mid-November, would have full power to enter into agreements with other member states, he said.

Sanan voiced concern however about “political issues outside of Parliament”, which he said should be followed closely.

Referring to possible protests against Prayut following the court verdict, he called on the government to show patience and compromise while avoiding the use of force.

Sanan also serves as chairman and president of Srithai Superware Plc, the world’s largest melamine manufacturer.

Thailand’s health & beauty industry rejuvenates thanks to ageing society

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Thailand's health & beauty industry rejuvenates thanks to ageing society

Thailand’s health & beauty industry rejuvenates thanks to ageing society

FRIDAY, SEPTEMBER 30, 2022

THE NATION

Covid-19 and Thailand’s ageing society are driving recovery in the health and beauty industry, the Commerce Ministry said on Friday.

The number of operators registering businesses in the industry rose 90 per cent over the first eight months this year, it said. A total of 353 health and beauty businesses were registered from January to August, compared to just 167 in the same period last year.

August alone saw 56 registrations, up 211.12 per cent from the same month last year.

A total of 1,621 health and beauty business were operating in Thailand as of August 31, accounting for capital value of 7.51 billion baht. More than half (836) are operating in Bangkok.

Deputy Commerce Minister Sinit Lertkrai attributed recovery in the industry to seniors paying more attention to their health and looks.

He added that health and beauty businesses had also gained a boost from pandemic trends such as working from home, exercise, and healthy foods, vitamins and supplements.

“More people are seeking out health and beauty services,” he said.

Thailand's health & beauty industry rejuvenates thanks to ageing society

The largest investors in health and beauty businesses this year are Thais, at 7.28 billion baht. The biggest foreign investor is mainland China (80.92 million baht), followed by Hong Kong (38.69 million baht), and Italy (34 million baht).

The Thai health and beauty industry generated 16.08 billion baht in 2019 before Covid-19 emerged. That figure fell to 14.31 billion baht in 2020 before recovering to 15.15 billion baht last year.

The Commerce Ministry expects the global health and beauty industry to generate 206 trillion baht this year as the rising elderly population drives continuous growth.

The same ageing trend in Thailand should also spur expansion of the industry here.

“The Foundation of Thai Gerontology Research and Development Institute predicts Thailand will have 20.5 million seniors, one-third of the total population, in 2040,” Sinit said.

As of December 31 last year, 12.24 million or 18.5 per cent of Thailand’s population were aged 60 or above, according to Department of Provincial Administration data.

Of these, 5.42 million were men and 6.81 million women.

Bangkok has the highest elderly population in Thailand with 1.17 million, followed by Nakhon Ratchasima (495,452), Chiang Mai (379,118), Khon Kaen (340,855) and Ubon Ratchathani (303,720).

THE NATION

Bank of Thailand ready to respond if baht gets too volatile

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Bank of Thailand ready to respond if baht gets too volatile

Bank of Thailand ready to respond if baht gets too volatile

FRIDAY, SEPTEMBER 30, 2022

THE NATION

The Bank of Thailand (BOT) is monitoring the baht and will take steps to tackle abnormal volatility immediately, so it does not affect economic recovery.

BOT governor Sethaput Suthiwartnarueput said on Friday that the central bank does not want to see abnormally fast and high fluctuations, especially since the baht is weakening.

However, he said, the central bank can only step in if the currency’s volatility starts affecting importers and exporters who cannot use hedging tools.

He added that the BOT has not set a target for the baht, as it depends mainly on the dollar, which has strengthened by 18 per cent. The baht, meanwhile, has weakened by 12 per cent, which is moderate when compared to other countries.

Sethaput believes the baht’s weakening will not boost inflation by much, because the rate of inflation has only risen by 0.06 per cent for every 1 per cent weakening of the baht.

He also does not expect a recurrence of the 1997 Asian financial crisis, as the country’s economy is strong.

He said the Bank of Thailand was ready to adjust the rate of interest if necessary, especially if the country’s economic situation is not where it should be.

Sethaput added that the central bank is monitoring core inflation, especially after it rose for four consecutive months and eventually reduced last month.

He believes the core inflation rate will be 6.3 per cent this year and less than 3 per cent next year.

He went on to say that the bank will hold an extraordinary meeting if the situation changes, especially since the Monetary Policy Committee now only meets six times a year.

THE NATION

Bangkok facing weekend of protests as anger at Prayut ruling rises

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Bangkok facing weekend of protests as anger at Prayut ruling rises

Bangkok facing weekend of protests as anger at Prayut ruling rises

SATURDAY, OCTOBER 01, 2022

THE NATION

The anti-government Kana Lomruam Prachachon (Melting Pot Group) has scheduled a protest against the prime minister in Bangkok on Sunday. The group announced it will gather at the 14 October 1973 Memorial in Phra Nakhon district from 5pm.

Led by former red-shirt leader Jatuporn Prompan and lawyer Nitithorn Lamlua, the group was at Ratchaprasong Intersection on Friday to witness the Constitutional Court’s ruling on General Prayut Chan-o-cha’s tenure as prime minister.

The court ruled by a 6:3 majority that Prayut had not reached the constitutional eight-year limit of his term, which should be counted from April 6, 2017 when the current charter came into force.

Bangkok facing weekend of protests as anger at Prayut ruling rises

Jatuporn, responding to the verdict from a Ratchaprasong stage, said Prayut had already completed his term since he assumed office on August 24, 2014 after leading the military coup. Jatuporn also insisted that the “3Ps Regime” must be stopped.

The 3Ps refers to Prayut, Deputy PM General Prawit Wongsuwan, and Interior Minister General Anupong “Pok” Paochinda. The trio are former commanders-in-chief of the Royal Thai Army and brothers-in-arms since their days as junior officers.

Jatuporn also offered moral support to the Ratsadon Group, who scheduled an anti-government rally at Victory Monument on Saturday.

THE NATION

Reinstated PM Prayut shines a bright light on his govt’s achievements

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Reinstated PM Prayut shines a bright light on his govt's achievements

Reinstated PM Prayut shines a bright light on his govt’s achievements

FRIDAY, SEPTEMBER 30, 2022

After learning that he can stay on as prime minister, General Prayut Chan-o-cha took the opportunity to highlight his government’s success in starting “unprecedented large-scale and integrated” development projects.

The reinstated premier said these mega-projects were key to ensuring the country’s progress and boosting the wealth of its people.

Prayut returns to work at Government House next Monday when he is scheduled to meet the new ambassadors of Kazakhstan and Australia.

In a Facebook post, Prayut said he respected the Constitutional Court’s decision to count his eight-year tenure from April 2017, when the current charter came into force.

Thanking his supporters for their good wishes, Prayut said he had spent his period of suspension reviewing his government’s achievements, especially key infrastructure projects that “will bring progress to the country and create a good future for our children and grandchildren”.

Those infrastructure projects include highways, railways, airports and harbours, he said.

“No other government had initiated or implemented such projects at such a large scale and in an integrated manner like this,” Prayut’s post read.

He added that history proves countries that have completed such mega-projects can leapfrog to prosperity.

“Once the projects we are doing are completed, our country will enter a golden age of prosperity. We are headed in the right direction and must work together to complete [the projects],” he said.

Reinstated PM Prayut shines a bright light on his govt's achievements

Government spokesman Anucha Burapachaisri also relayed Prayut’s thanks to his supporters for their encouragement and good wishes.

The government spokesman’s office also released Prayut’s work roster for Monday when he returns to office. The PM is scheduled to meet Kazakhstan’s Ambassador Arman Issetov at 1.30pm and Australia’s Ambassador Angela Jane Macdonald an hour later.

Thai private sector unfazed by Prayut’s return to PM’s seat

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Thai private sector unfazed by Prayut's return to PM's seat

Thai private sector unfazed by Prayut’s return to PM’s seat

FRIDAY, SEPTEMBER 30, 2022

THE NATION

The private sector does not believe that the reinstatement of Prayut Chan-o-cha as prime minister will affect foreign investments, provided everything is within the law.

The Constitutional Court ruled on Friday that Prayut has not exceeded this tenure and can stay in the PM’s seat until 2025.

Wisit Limleucha, vice president of the Thai Chamber of Commerce, said just before the verdict that he was not worried about the ruling, provided it was based on law.

Thai private sector unfazed by Prayut's return to PM's seat

He said the ruling has more to do with Thai citizens, who will wonder what the government will do to survive. Foreigners, on the other hand, will not care about the verdict, he added.

Chaicharn Chareonsuk, chairman of the Thai National Shippers’ Council, also agreed that the ruling is not important to the private sector provided the country is politically stable. This factor, he said, will help build confidence and benefit the economy as well as bring in investment.

Thai private sector unfazed by Prayut's return to PM's seat

He added that the upcoming Apec summits hosted by Thailand in November should be used as a showcase for the country’s potential.

Meanwhile, he said, if an election is held next year then the winning administration should maintain good policies and get rid of bad ones. He also said that Thailand must maintain political stability if it wants to meet its 10-million arrivals target by the end of this year.

However, Chaicharn admitted that economic growth and investments are also affected by other factors like trade wars, volatile currencies, rising oil and energy prices, and inflation.

He also said that political stability is important if Thailand wants to meet its goal of welcoming up to 10 million tourists this year.

The export sector, meanwhile, believes it will achieve an 8 per cent growth this fiscal year regardless of who is at the helm of the country. The only two factors that may adversely affect the sector are the shortage of computer chips and a slowdown in China.

THE NATION

Constitutional Court rules Prayut can stay on as PM

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https://www.nationthailand.com/thailand/politics/40020589

Constitutional Court rules Prayut can stay on as PM

Constitutional Court rules Prayut can stay on as PM

FRIDAY, SEPTEMBER 30, 2022

The Constitutional Court on Friday ruled that General Prayut Chan-o-cha can continue as prime minister because he has not served the maximum eight-year term stipulated in the current charter.

The court’s nine judges made the decision by a majority 6:3 vote in favour of Prayut.

The court ruled that the eight-year limit for a prime minister’s tenure set by the Constitution shall be counted from the day the current charter came into force — which is April 6, 2017. Therefore, Prayut has not exceeded the time limit.

The reading of the verdict took about 25 minutes.

Unlike previous charters, the current Constitution clearly stipulates a time limit for the PM’s tenure.

Article 158 states: “The prime minister shall not hold office for more than eight years in total, whether or not consecutively. However, this shall not include the period during which the prime minister carries out duties after vacating the office.”

Constitutional Court rules Prayut can stay on as PM

The parliamentary opposition, via the House speaker, on August 24 petitioned the Constitutional Court, asking if General Prayut had completed his eight-year tenure. The petition cited the fact that he had served in the position since August 24, 2014 following the military coup that he led three months earlier.

Meanwhile, Prayut’s legal adviser Maj-General Wira Rojanawas on Friday called on all parties to accept the Constitutional Court verdict.

“I call on everyone involved to accept and respect the court verdict that General Prayut can still serve as prime minister until the eight-year limit,” he said.

Wira, who is part of Prayut’s legal team and worked on this case, represented the suspended PM and attended the court’s verdict reading on Friday afternoon.

Asked if he was concerned about street protests following the court ruling, Wira said he had no worries as authorities could deal with the matter.

Wira said that Prayut now could be addressed as “prime minister” again and that he would resume his duties at Government House from Monday.

Thai court rules Prayut has not exceeded 8-year limit as PM

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Thai court rules Prayut has not exceeded 8-year limit as PM

Thai court rules Prayut has not exceeded 8-year limit as PM

FRIDAY, SEPTEMBER 30, 2022

Thailand’s Constitutional Court on Friday ruled Prime Minister Prayut Chan-o-cha had not exceeded the maximum eight years allowed in the post, paving the way for his likely return from a five-week suspension.

The court was announcing its decision in a case filed by the opposition, which sought clarity on whether Prayuth’s time as leader of a military government formed after a coup eight years ago should count in his overall tally.

Prawit refuses to evaluate his performance as acting PM

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Prawit refuses to evaluate his performance as acting PM

Prawit refuses to evaluate his performance as acting PM

FRIDAY, SEPTEMBER 30, 2022

General Prawit Wongsuwan on Friday refused to evaluate his performance as acting prime minister while standing in for General Prayut Chan-o-cha.

Prawit, the first deputy prime minister, was asked the question by a reporter at Government House. He told reporters that the media should do the assessment.

He has taken the acting PM role since August 24, when the Constitutional Court ordered Prayut’s suspension, pending its verdict on whether he has completed his eight-year term as prime minister.

When asked what he would do if he had to continue serving as acting PM, Prawit responded: “I don’t know. I still don’t know now what to do next”.

Prawit refuses to evaluate his performance as acting PM