Sep 1, 2008

Thailand

Bangkok : Thousands of protesters have been occupying Thai Prime Minister official compound since August 26, vowing to remain until he and his elected government fall. A small bomb exploded in a police booth near the occupied compound early on Monday, shattering nearby windows but injuring nobody, police said. The bomb detonated shortly after the end of a joint parliament session initiated by P.M Samak Sundaravej's to seek a way out of the political turmoil that has raised fears of bloodshed and economic downturn. Samak has rejected repeated call to quit or hold a snap election. Tension peaked on Friday when police fired tear gas and rubber bullets to repel thousand of protesters trying to storm police headquarter.

Opposition accuses Samak of being an illegitimate proxy of Thaksin, former P.M who was overthrown in a 2006 coup, at present is skipping bail on graft charges believed fled to London earlier this month.

Stock market has fallen about 23 percent since the street protests began in May and wobbled at times last week when violence spiked. Thailand's currency's baht hit a nine-month low against the dollar last week and continuing uncertainty is likely to hold it down.


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