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NCPO terminated as new cabinet meet today

The National Council for Peace and Order was terminated today. Gen Prayut yesterday delivered a speech via the TV Pool of Thailand to thank all sectors for their cooperation over the last five years.

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New cabinet to meet today

BANGKOK (NNT) – Prime Minister Gen Prayut Chan-o-cha today called a meeting of his new cabinet immediately after the swearing-in ceremony.

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The National Council for Peace and Order was terminated today. Gen Prayut yesterday delivered a speech via the TV Pool of Thailand to thank all sectors for their cooperation over the last five years.

The prime minister and NCPO chairman cited the royal appointments of him as prime minister and of his cabinet ministers as the first government following the March 24 election.

However, the new government is yet to attend a policy debate in parliament before it begins work.

Upon today’s swearing-in ceremony for the new government before His Majesty the King, the old one and the NCPO are terminated.

As head of the NCPO and the former government, Gen Prayut thanked the people, public and private sectors for their cooperation with the NCPO and government in measures to solve social and economic problems.

He said Thailand is now under democratic rule with a constitutional monarchy and the House of Representatives.

The premier confirmed that a cabinet meeting immediately followed today’s audience with His Majesty the King for the swearing-in ceremony.

The meeting was designed for cabinet ministers to learn of protocols and government policy matters. He said the new government is carrying out the tasks of the old one.

Meanwhile, the PM commented that the policy statement to be delivered and debated in parliament on July 25 is not a censure debate.

It remains to be seen how many days it may take for legislators to debate the government’s policy statement, pending consideration in parliament. The premier said he supports amendments to the constitution, some sections of which might be controversial.

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Asean

ASEAN, France formalise Development Partnership

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ASEAN, France formalise Development Partnership

JAKARTA, 4 MARCH 2021 – ASEAN and France convened the inaugural ASEAN-France Development Partnership Committee (AF-DPC) Meeting via videoconference today, marking the start of a formal partnership to strengthen their long-standing ties.

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Environment

Expedia and Accor join UNESCO Sustainable Tourism Pledge

Expedia Group, a mega booking platform, and the global hotel company Accor are joining forces to extend their commitment to the UNESCO Sustainable Tourism Pledge.

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Expedia Group, the global travel platform and Accor, a world leading hospitality group, in conjunction with the United Nations Educational, Scientific and Cultural Organization (UNESCO), are joining forces to further extend the UNESCO Sustainable Tourism Pledge (hereinafter also “The Pledge”).

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Ecommerce

Disrupted by Covid-19, will South-east Asia’s super apps join forces?

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Disrupted by Covid-19, will South-east Asia's super apps join forces?
– Super apps explore inorganic growth options
– Gojek in talks with e-commerce company Tokopedia over $18bn merger
– Grab reported to be preparing for a public listing in the US
– Food delivery and financial services increasingly important segments

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After a year of external expansion and internal reorganisation due to Covid-19, South-east Asia’s super apps appear to be looking towards mergers and public listings as a strategy for future development.

In early January international media reported that Indonesian ride-hailing and payments giant Gojek was in advanced talks about merging with local e-commerce company Tokopedia, in a deal estimated to be worth $18bn.

Any potential merger between the two would be significant for Indonesia. The two local unicorns could create a digital powerhouse, with integrated services ranging from ride-hailing to digital payments, e-commerce and delivery.

A tie-up would also create numerous synergies, such as Gojek’s fleet being able to serve Tokopedia’s online shopping orders. However, there is also some overlap in the digital payments space, where Gojek’s GoPay platform competes with Ovo, which is 35% owned by Tokopedia, although there is speculation that Tokopedia may look to sell its stake in Ovo.

The news was followed by separate reports in late January that Grab, Gojek’s biggest competitor in South-east Asia, had selected investment banks Morgan Stanley and JP Morgan to help work on an initial public offering (IPO) in the US, set to take place in the second half of the year.

The Singapore-headquartered company, which operates ride-hailing, food delivery, e-payment and insurance services in around 400 cities across eight South-east Asian countries, is valued at around $16bn. Its IPO is expected to raise at least $2bn, which would make it the largest overseas share offering by a South-east Asian company.

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