Skip to content
Asia Pacific
NY & CA Lose $1 Trillion As Financial Firms Relocate South
S and P Downgrades Several US Banks Due to ‘Tough’ Conditions
Published by: dailynews
Published on:

Property Tycoon Bids To Emerge From Turmoil As Thailand’s Leader

Published by: dailynews
Published on:

Srettha Thavisin, a former property tycoon and a political newcomer, is set to take a shot at becoming Thailand’s next prime minister in a vote scheduled on Tuesday that may help resolve a monthslong political impasse.

While backed by a coalition of populist and conservative parties, Srettha’s fate rests on the military-appointed Senate, whose 250 members vote in a joint assembly with 500 elected lawmakers. Srettha came into the race after earlier premiership bids by Pita Limjaroenrat of Move Forward Party, which won the most popular votes in the May 14 election, was blocked by senators last month.

If successful, Srettha, 60, will form a government after months of political stalemate that’s gripped the Southeast Asian nation. Challenges awaiting Thailand’s 30th prime minister include a society deeply polarized by post-election turmoil, a fragile economic recovery and massive household debt that soared to a record during a near-decade of military-backed rule.

Read the full story on Bloomberg here.