Thailand election: Economic growth, income inequality are key issues

Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front. The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. An anti-military camp that consist of the Pheu Thai


Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front. The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. An anti-military camp that consist of the Pheu Thai
Thailand election: Economic growth, income inequality are key issues Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: yen nee lee, gonzalo azumendi, getty images
Keywords: news, cnbc, companies, thailand, economic, party, minister, foreign, election, thai, growth, political, issues, parties, income, prime, inequality, key, investors


Thailand election: Economic growth, income inequality are key issues

Investors are hoping for greater political and economic stability in Thailand after the country’s upcoming general election — but some analysts aren’t so sure that will come to pass.

Last year, the Thai stock market suffered a record $9 billion in foreign investment outflows as investors withdrew from emerging markets amid rising interest rates in the U.S. and global economic concerns. This year, foreign buying of Thai equities has not return in a significant way, with many investors opting to wait for clarity on the political front.

The election on March 24 will be Thailand’s first since a military coup overthrew the elected government in 2014. The vote is set to be a contest between three political fractions:

A pro-military camp that include the Palang Pracharat Party, which named current Prime Minister Prayuth Chan-o-cha as its candidate to lead the country.

An anti-military camp that consist of the Pheu Thai Party — which is linked to exiled former Prime Minister Thaksin Shinawatra — and the newly founded Future Forward Party.

A group of parties that are neutral or undecided on which side they would align, including the Democrat Party led by another former prime minister, Abhisit Vejjajiva, and Bhumjaithai Party, which recently made headlines for its promotion of marijuana as a new cash crop in Thailand.

None of the parties are expected to single-handedly win enough seats to form the next government, which means the most likely scenario is a coalition administration. That may be challenging, however, in a polarized political environment like Thailand, analysts said.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: yen nee lee, gonzalo azumendi, getty images
Keywords: news, cnbc, companies, thailand, economic, party, minister, foreign, election, thai, growth, political, issues, parties, income, prime, inequality, key, investors


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Giving up his US citizenship helped an entrepreneur become one of Thailand’s richest men

Bill Heinecke was 42 when he did something drastic: He walked into the U.S. embassy in Bangkok, handed over his passport and renounced his citizenship. It wasn’t a moment of madness, nor was it strictly necessary: The American-born entrepreneur had by then been living and working in Thailand for almost three decades. “I remember the time very well,” the now-69-year-old self-made billionaire said during a recent episode of CNBC’s “Managing Asia.” I’ve never seen or heard of anyone who wanted to g


Bill Heinecke was 42 when he did something drastic: He walked into the U.S. embassy in Bangkok, handed over his passport and renounced his citizenship. It wasn’t a moment of madness, nor was it strictly necessary: The American-born entrepreneur had by then been living and working in Thailand for almost three decades. “I remember the time very well,” the now-69-year-old self-made billionaire said during a recent episode of CNBC’s “Managing Asia.” I’ve never seen or heard of anyone who wanted to g
Giving up his US citizenship helped an entrepreneur become one of Thailand’s richest men Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-05  Authors: karen gilchrist, managing asia, gonzalo azumendi, getty images, anantara, minor international
Keywords: news, cnbc, companies, men, helped, giving, ive, entrepreneur, thailands, wasnt, business, remember, working, know, heinecke, citizenship, bangkok, minor, hospitality, richest


Giving up his US citizenship helped an entrepreneur become one of Thailand's richest men

Bill Heinecke was 42 when he did something drastic: He walked into the U.S. embassy in Bangkok, handed over his passport and renounced his citizenship.

It wasn’t a moment of madness, nor was it strictly necessary: The American-born entrepreneur had by then been living and working in Thailand for almost three decades. But it did showcase what he says is one of the most important skills in business — commitment — and, as a result, propelled him up the ranks of the country’s rich list.

“I remember the time very well,” the now-69-year-old self-made billionaire said during a recent episode of CNBC’s “Managing Asia.”

“I remember the counselor who said to me: ‘I think you have to rethink this, you know. I’ve never seen or heard of anyone who wanted to give back their citizenship.'”

But Heinecke was resolute: “I said: ‘Well I’ve made up my mind and I, you know, I don’t need to wait.'”

Heinecke is the chairman and CEO of hospitality group Minor International, the company he founded as a cleaning business when he was 17 — still a minor — four years after relocating to Bangkok with his family. Throughout his 20s and 30s, it evolved into one of Thailand’s leading hospitality chains, and Heinecke said he felt he owed it to the country that “adopted” him to show his dedication to doing business there.


Company: cnbc, Activity: cnbc, Date: 2018-09-05  Authors: karen gilchrist, managing asia, gonzalo azumendi, getty images, anantara, minor international
Keywords: news, cnbc, companies, men, helped, giving, ive, entrepreneur, thailands, wasnt, business, remember, working, know, heinecke, citizenship, bangkok, minor, hospitality, richest


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A big-money Catholic group just said it’s yanking all of its cash out of fossil fuels

A coalition of 40 Catholic institutions on Tuesday announced a decision to pull their money from — or block future investment in — fossil fuels. The Global Catholic Climate Movement called it the biggest collective announcement of divestment by Catholic organizations ever. “As a Catholic Church bank, we feel strongly responsible to participate in tackling the issue of climate change,” Tommy Piemonte, the bank’s sustainability research officer, said in a statement. In that encyclical, the Pope de


A coalition of 40 Catholic institutions on Tuesday announced a decision to pull their money from — or block future investment in — fossil fuels. The Global Catholic Climate Movement called it the biggest collective announcement of divestment by Catholic organizations ever. “As a Catholic Church bank, we feel strongly responsible to participate in tackling the issue of climate change,” Tommy Piemonte, the bank’s sustainability research officer, said in a statement. In that encyclical, the Pope de
A big-money Catholic group just said it’s yanking all of its cash out of fossil fuels Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-10-03  Authors: anmar frangoul, gonzalo azumendi, the image bank, getty images
Keywords: news, games, cnbc, companies, pope, bank, fuels, bigmoney, caritas, group, cash, und, institutions, movement, yanking, fossil, climate, church, change, catholic


A big-money Catholic group just said it’s yanking all of its cash out of fossil fuels

A coalition of 40 Catholic institutions on Tuesday announced a decision to pull their money from — or block future investment in — fossil fuels. The Global Catholic Climate Movement called it the biggest collective announcement of divestment by Catholic organizations ever.

The group comes from all over the world — they include financial institutions such as Germany’s Bank für Kirche und Caritas eG, and the Episcopal Conference of Belgium, which is the policy arm of the Catholic church in that country. Groups from the U.K., the United States, Australia and Italy were also among those divesting.

The Movement said that the Bank für Kirche und Caritas eG — which translates as Bank for the Church and Caritas — was one of the first Catholic banks to turn its back on fossil fuels. That entity, which has a balance sheet of 4.5 billion euros ($5.3 billion), was severing links with coal, tar sands crude, and oil shale.

“As a Catholic Church bank, we feel strongly responsible to participate in tackling the issue of climate change,” Tommy Piemonte, the bank’s sustainability research officer, said in a statement.

Piemonte added that the “integrity of creation and climate protection” is an issue the bank has been committed to since long before Pope Francis’ 2015 encyclical Laudato Si. In that encyclical, the Pope described climate change as a “global problem with grave implications.”

The announcement was welcomed by Christiana Figueres, the former executive secretary of the UN Framework Convention on Climate Change. “I hope we’ll see more leaders like these 40 Catholic institutions commit, because while this decision makes smart financial sense, acting collectively to deliver a better future for everybody is also our moral imperative,” she said.


Company: cnbc, Activity: cnbc, Date: 2017-10-03  Authors: anmar frangoul, gonzalo azumendi, the image bank, getty images
Keywords: news, games, cnbc, companies, pope, bank, fuels, bigmoney, caritas, group, cash, und, institutions, movement, yanking, fossil, climate, church, change, catholic


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