Word: baht
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...industries to remain competitive with China's, central bankers throughout the region have been trying to keep their currencies from appreciating against the dollar?an increasingly difficult challenge as their economies strengthened. Yuan reform could remove the first log from the logjam?the Japanese yen, Korean won and Thai baht all rose against the greenback immediately after China revalued. And within an hour of Beijing's announcement, Malaysia ended its 7-year-old peg of the ringgit to the dollar, which was imposed during Asia's financial crisis to help stabilize the faltering economy. Malaysia had to move almost immediately...
...billion Amount a Thai court last week ordered former Central Bank governor Rerngchai Marakanond to pay for foreign currency reserves he expended on unsuccessfully defending the Thai Baht from speculators during the 1997 financial crisis
Things like the aftermath of Asia's 1997 economic meltdown. Dhanin says just before the Thai baht collapsed, he almost retired. But times were so tough that Dhanin, who had spent decades building a firm that now employs 100,000 people in 20 countries, found himself confronted by a bevy of bankers. HSBC was calling in about $400 million in loans made to CP, and the company didn't have the cash. Dhanin was forced to unload assets to raise money, including stakes in a Chinese motorcycle manufacturer and a brewer--companies he believed would thrive as the mainland market...
...With its seamy mix of political power, billions of baht in booty, and high-society scandal, the Hangthong case is just the latest installment of a Tumwattana family saga that is Shakespearean in its tragic body count. Starting in the 1950s as owners of a slaughterhouse, the clan's patriarch, Arkom, and his wife, Suwapee, built a Bangkok-based real estate empire worth an estimated $400 million. But wealth didn't bring security to the family, which numbered 10 children. In 1966, Arkom was shot dead in what was believed to be a business dispute. The case remains unsolved. Thirteen...
...labyrinth, make an investment in the quirky, illustrated map of Bangkok by Nancy Chandler. It features a detailed ground plan of Chatuchak and with it you might?just might?make it back to the hotel bar with most of your faculties intact. The map is widely available for 140 baht ($3.50) at Asia Books and Bookazine stores throughout the city, or via nancychandler.net...