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MediaWATCH: HM The King Forbes 'Richest Royal'

MediaWATCH: HM The King Forbes 'Richest Royal'

Thursday, June 18, 2009
Phuketwan MediaWATCH

A daily wrap of Thailand news, with a Phuket perspective. Reports from national and international media, with translations into English from Thai.

forbes.com Dubai spent more than $60 billion building the so-called ''Eighth Wonder of the World,'' a group of palm-shaped islands in the Persian Gulf. Now debt from the venture and other soured investments have put Dubai in the hole for $80 billion. Real estate values at the Palm Islands are down more than 50 percent. The net worth of Dubai's Sheikh Mohammed bin Rashid Al Maktoum is down an estimated $6 billion. Forbes' annual list of the world's 15 richest royals places Thailand's King Bhumibol Adulyadej on top, as being worth $30 billion, $5 billion less than last year, as a result of double-digit declines in real estate and stocks owned via the Crown Property Bureau.

The Nation More than 10 residential projects with a combined market value of nearly 10 billion baht remain ''on hold'' in Phuket. Pisarn Tangkasombat, president of the Arayaburi Group, which owns resorts and develops residential projects on Samui and in Phuket and Krabi, says domestic and foreign demand for residences in Phuket was continuing to fall against last year. ''Some Thai investors are interested in buying our residential projects, but the banks reject their loan applications,'' he said. ''We cannot say how many property projects have been suspended in Phuket, but we know of more than 10 projects worth nearly 10 billion baht.''

Today's Must Read

guardian.co.uk British Airways unions have reacted angrily to a request by chief executive Willie Walsh that its 40,000 staff work without pay for a month. The airline, burning through $6.2 million a day, made the request in its in-house publication, with a warning that it faced a fight for survival. ''Colleagues are being urged to help the airline's cash-saving drive by signing up for unpaid leave or unpaid work,'' the report read. ''People will be able to opt for blocks of unpaid leave or unpaid work, with salary deductions spread over three to six months, wherever possible.'' A spokesman for BA's biggest union, Unite, said: ''Willie Walsh can afford to work for nothing. Our members can't.''

Bloomberg Singapore's exports dropped the least in eight months in May, adding to signs the worst global recession since the Great Depression is easing. Non-oil domestic exports fell 12.1 percent from a year earlier, after contracting 19.2 percent in April. Singapore's government said last month the nation may have ''hit the bottom'' of its deepest recession since independence in 1965. Factory production fell at the slowest pace in seven months in April, boosting expectations the export collapse may also ease as manufacturers start rebuilding stockpiles in anticipation of improving demand.

thefrisky.com Angelina Jolie and Secretary of State Hillary Clinton are making a joint appearance on the television show Anderson Cooper 360 tomorrow night. ''The two women are apparently in cahoots on some undoubtedly serious subject. In an age where celebrities waltz into the UN more often than they walk the red carpet, and politicians twitter more than Ashton Kutcher, it's hardly surprising to see the blurring of the lines between entertainment and politics. Still, Angelina and Hillary? It's kind of an unlikely match. Something big must be happening (Hillary's website says something about human rights?),''

Associated Press Thai PM Abhisit Vejjajiva says three ethnic Rohingyas arrested on human trafficking charges may have been involved in illegal business but were unlikely to be linked to terrorism or Islamic insurgents in the country's south. A senior police officer said one of the three had been involved in brokering weapons deals with members of Sri Lanka's defeated Tamil Tiger rebels and that documents the men forged may have been sold to members of al-Qaida. The PM said that police were investigating, but that so far there was no evidence to support allegations of links to terrorists or insurgents.

voanews.com (voice of america) A new report says the worst places to be a refugee last year were Thailand, South Africa and the Gaza Strip. In its annual report on worldwide refugees, the US Committee for Refugees and Immigrants lists Brazil, Ecuador and Costa Rica among the best countries for refugees. The private group lobbies for refugee rights. The report criticises Thailand for deporting thousands of political refugees from Burma back to their homeland. Many have been living and working illegally in Thailand. The Thai government considers them economic migrants.

AFP Foreign maids working in Malaysia will soon get one day off a week as part of a bid to improve working conditions for domestic helpers from overseas, according to a minister. The ministry will make it mandatory for all domestic helpers to sign a contract of employment containing provisions like salary, the name of employers, their workplaces and the compulsory one day off a week. ''We may be able to implement it this year," the minister added, but did not give a date as to when the law would be amended.

Bernama Malaysia will seek an explanation from the US Embassy after the country put Malaysia on its list of countries suspected of not doing enough to combat human trafficking. Home Minister Datuk Seri Hishammuddin Tun Hussein said the move was to identify the causes leading to the allegations and claims. Malaysia has said it found no evidence to support the claim that thousands of deported Myanmar migrants were handed over to human traffickers in Thailand.

Reuters UN Secretary-General Ban Ki-moon and his envoy to Burma have received a petition from more than 670,000 people worldwide urging them to press the military junta to release all political prisoners. The petition calls on Ban and his special envoy to Burma, Ibrahim Gambari, to secure the release of Aung San Suu Kyi, the leader of the democratic opposition, and other political prisoners. Suu Kyi is currently on trial for allegedly violating the terms of her imprisonment.

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