• As protests sweep across Thailand, one economist at Nomura warns the civil unrest could hinder the country’s economic recovery from the coronavirus pandemic.
  • Thailand is no stranger to political turmoil, and has seen one of the highest number of military coups in modern history.
  • Nomura is “relatively cautious” on the Thai economy’s growth outlook and expects a 7.6% decline for the year.



a man sitting in a chair talking on the phone: Thai protestors rally in front of the Royal Thai Army Headquarters on September 23, 2020 in Bangkok, Thailand.


© Provided by CNBC
Thai protestors rally in front of the Royal Thai Army Headquarters on September 23, 2020 in Bangkok, Thailand.

As protests continue to sweep across Thailand, one economist at Nomura warns the the civil unrest could hinder the country’s economic recovery from the coronavirus pandemic.

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“(The protests) could potentially delay, if not even derail, the economic recovery. You know, despite Thailand (being) relatively successful in flattening the Covid-19 curve,” Euben Paracuelles, chief Asean economist at Nomura, told CNBC’s “Street Signs Asia” on Thursday.

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WASHINGTON (NEXSTAR) — Any optimism about Republicans and Democrats meeting in the middle on a new coronavirus aid package that many hoped would include a second round of $1,200 direct payments has likely been derailed following the death of Supreme Court Justice Ruth Bader Ginsburg.

Last week, President Donald Trump urged his GOP colleagues to “go higher” on a deal and House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin had their first talks in weeks about a stimulus deal. But days later, the parties were at war over the process of filling RBG’s open Supreme Court seat. And with Republicans pushing to quickly fill the vacated seat, most insiders believe it’s highly unlikely the sides would find common ground on a COVID relief deal.

It’s worth noting Democrats and Republicans agreed Tuesday to take a government shutdown off the table this fall, giving a big, bipartisan vote to a

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European banks have grown wary of financing commodity traders, raising borrowing costs and endangering smaller firms in the market for raw materials.

ABN Amro Bank NV is pulling out of trade and commodity finance altogether.

ING Groep


ING 3.37%

NV will likely enforce stricter monitoring and control over commodity deals it finances to reduce risks, said a person familiar with the matter.

BNP Paribas SA,


BNPQY 5.25%

formerly a powerhouse in commodity-trade finance, is scaling back, a person familiar with the company said.

Banks are responding to the rout in oil prices, a spate of alleged frauds, a drift into riskier forms of lending and investor pressure over climate change. Their retreat is likely to concentrate the business of transporting oil, metal and grain in the hands of large traders that still have access to cheap funding.

Smaller traders, in contrast, are finding it increasingly difficult to borrow from banks,

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A federal fracking ban that at times has been backed by former Vice President Joe Biden would batter the U.S. economy just as it emerges from its sharpest economic slowdown of the post-World War II era, according to a new study.

TRUMP RIPS BIDEN OVER FRACKING, ENERGY POLICY: ‘GET USED TO NO AIR CONDITIONING’

It could also derail U.S. energy independence, a cornerstone of the Trump administration, which has accused Biden of wanting to “outlaw” American energy sources.

“The United States has experienced essentially a generational shift in energy security, economic security, employment and CO2 emission reductions as a result of the shale revolution,” said Frank Macchiarola, senior vice president of policy, economics and regulatory affairs at the American Petroleum Institute, a national trade group representing about 600 oil

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