Author: desk team

BoT to ease rules on outflows to temper currency's gains The Bank of Thailand plans to further ease overseas investment rules. The Bank of Thailand plans to further ease overseas investment rules by early next year, allowing more capital outflow, to temper gains in the export-reliant baht currency. The BoT will increase the limit on foreign currency deposits and allow money transfers between foreign currency deposits held by individuals and companies, deputy governor Mathee Supapongse told reporters on Wednesday. It is also weighing ending curbs on the type of overseas investment allowed in the long term, and may only cap the amount spent, he said. The pledge to ease rules on capital outflow follows the baht’s surge from a 17-month low in April that threatens to aggravate the challeng

MANILA, Philippines - Abu Sayyaf militants may have staged suicide bombings that killed 14 people to avenge the death of a Filipino leader of the Islamic State group in the southern Philippines following a clash with troops last month, the army chief said Tuesday. Army commanding general Cirilito Sobejana said Hatib Hajan Sawadjaan was wounded in a July 6 gunbattle in a jungle near Patikul town in Sulu province and most likely died a few days later. Troops have been searching for his buried remains, he said. Two Islamic militants blew themselves up in suicide attacks Monday that killed at least 14 people, including soldiers, and injured 75 others in Jolo town in Sulu, in the country’s worst extremist attack this year. Military officials accused Sawadjaan’s nephew, Mudzrimar “Mundi” Sawad

Peace process at risk of disintegrating Myanmar's civilian government has made peace and national reconciliation a central platform of its administration since taking office in early 2016. But after almost five years very little has been achieved and the peace process is yet again precariously poised. The next stage -- the fourth round of the Panglong talks as Aung San Suu Kyi dubbed it after her historic electoral victory five years ago -- is scheduled to start today in the capital Nay Pyi Taw but is in danger of disintegrating into disarray. While the government has been gung ho about holding this meeting -- which would be the last before the forthcoming elections in November -- many ethnic leaders remained sceptical and hesitant about participating, fearing that it would only be symbo...