Thai security council urged to study Cambodia MoUs

Former foreign affairs minister Noppadon Pattama has urged the government to study the pros and cons of two memorandums of understanding (MoUs) signed with Cambodia governing disputed border areas before putting any such agreements up for a referendum.

He said the National Security Council (NSC) should conduct the study with the findings to be made public so voters are fully informed of what the 2000 and 2001 MoUs truly entail, before the government asks them in a referendum whether those pacts should now be nullified, Mr Noppadon said.

Mr Noppadon was responding to the government’s earlier announcement during its parliamentary policy address that a referendum on the two MoUs, which critics say could place Thailand in a tight spot in territorial disputes, would be held alongside the next general election.

Another referendum on whether to rewrite the charter is also due to take place around that time.

“All-round information should be available to the public before they make decisions, based on the facts,” Mr Noppadon said.

“I call on all sides, including the media, to bring out as much truth and factual information as possible.”

Mr Noppadon asked why no government had attempted to revoke the MoUs over the past quarter of a century if there was a legitimate problem with either of them.

Citing the previously stated opinion of the Department of Treaties and Legal Affairs, Mr Noppadon, who served as foreign minister under the Samak Sundaravej government, said the benefits of both MoUs outweigh any potential drawbacks.

The 2000 pact, for instance, requires Cambodia to continue bilateral talks with Thailand on the border issue without involving third parties such as the United Nations or the International Court of Justice.

The same MoU also prohibits either side from unilaterally changing the state of disputed border areas, such as by building a community, setting up a market, or digging a military trench, Mr Noppadon added.

Meanwhile, Thirachai Phuvanatnaranubala, a former finance minister and now deputy leader of the Palang Pracharath Party, said that since little progress has been achieved over the past 25 years under the two MoUs, and with Cambodia continuing to breach them, Thailand has a sound reason to annul them.

The Vienna Convention on the Law of Treaties (1969) allows nations to suspend or cancel treaties over significant violations, he said.

Former Democrat Party MP Thepthai Senpong offered a different perspective, saying the government has the authority to decide on its own after consulting relevant state agencies, without shifting the burden of decision-making to the public.

The school of trauma

Remember that Netflix documentary last year called The Program: Cons, Cults, And Kidnapping? It exposed the horrors young people endure through parent-sanctioned abductions to so-called academies designed to “fix” wayward kids. That documentary left many of us shaken with its raw look into an industry that preys on fear and promises false solutions.

While Netflix’s latest limited series isn’t directly based on that story, Wayward is loosely inspired by the broader troubled-teen industry — an industry that is itself steeped in cruelty and exploitation. What unfolds behind closed doors of this fictional academy might churn your stomach just as much as any real-world documentary.

This project marks a significant shift for actor and filmmaker Mae Martin, previously known for their sharp comedy and the semi-autobiographical Netflix drama Feel Good (2020). With Wayward, Martin moves into the realm of psychological thriller, writing and creating the entire series. The result is ominous, suspenseful and at times deeply unsettling. While the show’s premise is undeniably absorbing, the execution is not without flaws. Still, it demonstrates Martin’s ability to flex a different side of creative talent.

The series is set in the picture-perfect town of Tall Pines, Vermont, where sinister secrets linger beneath the town’s postcard exterior. Shortly after LGBTI couple Alex Dempsey (played by Martin), a police officer and their pregnant wife Laura Redman (Sarah Gadon) move into their new home, Alex crosses paths with two desperate students from the local Tall Pines Academy — Abbie (Sydney Topliffe) and Leila (Alyvia Alyn Lind).

Their yearning to escape hints at something rotten at the core of both the school and the town. As Alex investigates a string of troubling incidents, suspicion naturally turns towards Evelyn Wade (Toni Collette), the school’s enigmatic leader.

Alex is the classic outsider figure — a cop new to town, trying to establish roots in a community that appears wholesome yet radiates an unnerving energy. Tall Pines itself is never fully fleshed out, but from the outset we sense that this is a place bound by shared secrets, where everyone’s smiles conceal something unsettling.

The residents are overly warm, bordering on invasive, their friendliness ringing false to the point of menace. The show uses this atmosphere effectively, conjuring echoes of cult dramas or stories where idyllic communities conceal monstrous truths.

I personally would have loved to see the town’s history and lore explored more deeply, but I understand why Martin keeps the focus tight on the academy itself. To wander too far into world-building might have distracted from the claustrophobic terror of the school.

The narrative is split between two main perspectives. On one side, we follow Alex and Laura as they settle into Tall Pines and slowly confront the town’s strangeness. On the other, we witness the daily lives of the academy’s students. Inside, the academy is portrayed less as a school and more as a regimented asylum or prison. The discipline is suffocating, the routines cruel and the supposed lessons serve only to break down the kids’ sense of self.

The so-called “circle therapy” sessions are particularly chilling, recalling elements of One Flew Over The Cuckoo’s Nest (1975) crossed with A Clockwork Orange (1971). The emphasis is on psychological torment and manipulation, masquerading as treatment. These sequences are disturbing but crucial — they force us to reckon with the irreparable damage such places inflict.

At times, Wayward becomes genuinely difficult to watch, but that discomfort underscores why we root for the kids. Even when they lash out with aggression or defiance, they are victims first, fighting for survival in a system designed to crush them.

I was especially drawn to the dynamic between Alex and Laura. Their marriage is not presented as flawless or simplistic. As Alex struggles with her outsider status in Tall Pines, Laura reconnects with old acquaintances — and with her own past as a former academy student. This creates fissures in their relationship, moments of strength tested by lingering shadows of trauma. I appreciated how the show avoided painting their partnership as either idealised or doomed; instead, it felt lived-in and layered.

Then there’s Toni Collette, who delivers yet another commanding performance as Evelyn Wade. Collette is at once magnetic and chilling — her charm barely disguising the manipulative, opportunistic leader beneath. She plays Evelyn as less of a maternal figure and more of a cult leader wielding both soft persuasion and brute force. Her presence electrifies every scene and she’s a major reason why the show remains compelling even when the narrative falters. Unfortunately, for all its tension and intrigue, the series stumbles towards its conclusion. As the final episodes unfold, Wayward begins to resemble a teen adventure story more than an adult psychological thriller. The ending is especially unsatisfying. While one storyline finds clear resolution, most others are left hanging. Ambiguity can work when it deepens a narrative’s themes, but here it feels more like the writers abandoned threads they didn’t know how to resolve. Given that Wayward is intended as a self-contained limited series, this lack of closure is frustrating.

The buildup — schemes, betrayals and escalating risks — promises payoff that never fully arrives. When the credits roll on the final episode, I felt that little had actually been accomplished. I don’t demand a neat bow on every storyline, but I do want the sense that the journey meant something. Here, too much is left floating unresolved, leaving me more annoyed than haunted.

Still, for all its missteps, Wayward remains both provocative and thought-provoking. As a filmmaker, Martin explores the tension between critical thinking and the societal pressures to conform, especially in how authority preys on vulnerability. When the show works, it is unsettling, gripping and deeply resonant. The problem is that it doesn’t sustain that momentum consistently.

In the end, it’s watchable, often intriguing series with flashes of brilliance, but one that never quite coheres into something essential.

Sword stolen from revered Petchabun memorial

Authorities are hunting down the culprits behind the theft of a sword from Petchabun’s Pho Khun Pha Mueang Memorial.

Lomsak district chief Praiya Phakaratakul sought police assistance on Friday after reports that the metal sword held by the Pho Khun Pha Muang Memorial was removed from the revered statue.

Thieves apparently cut the sword from the right hand of the smaller of two statues honouring Petchabun’s prominent Pho Khun Pha Mueang. Sacred clothes wrapped around the waists of both the larger and smaller statues were also taken.

Officials said the sword was cleanly cut, leaving the handle in the statue’s hand.

The vandalism was reported by a memorial caretaker and citizens paying respects on Friday morning. It is believed the perpetrators carried out the act at night to avoid detection.

While no motive has been proposed, the district chief suggested the culprits may have been under the influence of drugs and could be seeking to sell the relics.

Authorities will investigate potential buyers.

The Lomsak district head called the act highly offensive to Petchabun citizens, emphasising that the memorial is a significant emotional and cultural landmark for the province.

Pho Khun Pha Mueang was a Thai nobleman and general from the late 12th to mid-13th century. He played a key role in the founding of the Sukhothai Kingdom.

Bayer Spotlights Innovations to Address Rising Health Challenges in the Asia Pacific Region

Bayer reinforced its commitment to advancing healthcare solutions for patients in the APAC region with very diverse healthcare landscapes and varying patient needs.

‘By 2050, heart failure cases in the Asia-Pacific region are projected to reach 74.5 million, a staggering 127.6% increase from 2025,’ stated Ashraf Al-Ouf, Head of Pharmaceutical Commercial Operations markets in Asia-Pacific at Bayer. ‘Amid these concerning projections, we are poised to address healthcare needs and bring new therapeutic options for patients across countries in East Asia, South Asia, Southeast Asia, and Oceania.’ In addition to Cardiovascular Diseases, Bayer is well positioned to tackle a range of healthcare challenges. Its product portfolio for the APAC markets includes therapies in areas such as Oncology, Ophthalmology, Women’s Health, and Radiology.

In addition, the company is accelerating its momentum through pharmaceutical innovation and clinical research. Currently, Bayer is conducting 34 ongoing clinical trials in APAC, demonstrating its dedication to advancing medical research and improving patient outcomes. Besides, the company has established two life science incubators in Asia: Bayer Co.Lab Kobe and Bayer Co.Lab Shanghai, which is the largest co-creation incubator in APAC. They are focused on fostering and promoting early-stage biotech innovation in areas such as Cell and Gene Therapy and Oncology.

Looking ahead, the APAC markets present significant growth potential for the company. ‘Bayer is leveraging its global expertise while adapting to local market dynamics in Asia- Pacific’, said Ashraf Al-Ouf, Head of Pharmaceutical Commercial Operations for markets in Asia-Pacific at Bayer. ‘We are investing in partnerships and collaborations with local partners that enhance our reach and effectiveness in delivering innovative solutions.’

‘Our research aims to provide a transformative therapeutic option for patients living with congestive heart failure’, explained Gustavo Pesquin, CEO of Asklepios BioPharmaceutical, Inc. (AskBio), Bayer’s wholly owned, independently operated subsidiary. ‘We work relentlessly to reshape what’s possible for those impacted by this severe diagnosis.’

After the first investments into the technologies, Bayer’s drug development pipeline in cell and gene therapies grew and comprises several programs in preclinical, early, and advanced clinical stages. In addition to cardiovascular diseases, key research areas in cell and gene therapies include Neurology, Rare Diseases, and Ophthalmology. This year, Bayer is advancing progress for patients with Parkinson’s disease, being the first company with both investigational cell as well as gene therapies for this condition. More precisely, the investigational gene therapy, currently in clinical Phase II, has received Regenerative Medicine Advanced Therapy designation from the Food and Drug Administration (FDA). The investigational cell therapy, which has also received this designation, is recruiting first patients in a Phase III clinical study. Australia has been included as one of the countries in Asia-Pacific in the clinical Phase III trial. Furthermore, Bayer has recently achieved a significant milestone with the FDA’s Fast Track designation for an investigational cell therapy targeting specific forms of inherited retinal diseases. It is the first clinical study using induced pluripotent stem cell-derived photoreceptor cells to restore vision for these patients by replacing damaged retinal cells with healthy ones.

In addition to its activities in cell and gene therapies, Bayer is driving different modalities across disease areas such as Cardiovascular, Oncology, Women’s Health, Radiology, and Ophthalmology. By advancing its portfolio of innovative products, Bayer remains committed to improving the lives of various patient groups around the world. Of note is Bayer’s recent pipeline progress: submitting a new low dose magnetic resonance imaging (MRI) contrast agent for marketing authorization in several countries worldwide; receiving the first approvals for a hormone-free treatment to relieve moderate to severe vasomotor symptoms in menopausal women; and providing a new treatment option for patients with advanced prostate cancer.

Aligned with its mission ‘Health for all, Hunger for none’, Bayer remains dedicated to shaping the future of healthcare through innovation, investment, and a steadfast commitment on improving patient outcomes in the Asia-Pacific region and across the world.

Ukraine must work with Asean

For many years, Ukraine’s foreign policy was focused mainly on Europe and North America. It was natural: Ukraine’s path of European integration, security, and reforms demanded most of our capacity.

But now we must admit: there were many opportunities we missed in Africa, the Middle East, and Asia, including the southeastern region of Asia. Sometimes this was due to limited resources, sometimes because of the legacy of Soviet foreign policy and Moscow’s foreign influence.

One misconception we observe in many parts of the world, and in Asia, indeed, too, is that Russia has deep historical ties with the region. In reality, much of what is remembered as “Soviet heritage” and attributed mainly to Russia was no less, if not more, Ukraine’s contribution. Ukrainian specialists helped build infrastructure in many countries abroad, including Malaysia and Indonesia, worked on major transport projects, and even took part in global efforts such as the construction of the Suez Canal and in the development of space technology. Thousands of doctors, engineers, and diplomats from Asean countries have studied in Ukrainian universities. Russia today tries to “occupy” this legacy, but the truth is that Ukraine has played a significant role.

Ukraine also has a tradition of supporting developing nations in international institutions. For example, at the United Nations, Ukrainian diplomats were often among the first to raise the voices of African and Asian states. The diplomats of Ukraine co-authored numerous resolutions and amendments to international conventions, actively advocating for the rights of the captive nations of the world. The Ambassador of the Ukrainian SSR to the UN, Hennadii Udovenko, was the Vice-Chairman of the Special Committee against Apartheid.

And these are a few of the many things that make us natural partners for the Association of Southeast Asian Nations (Asean): we understand the value of sovereignty, diversity, and the search for peace.

Today, Asean is one of the most dynamic regions of the world. For Ukraine, building ties here is not only about trade, but also about values and security. Since 2021, we have been an observer in Asean, and next year we aim to become a sectoral partner. This means cooperation across many areas, including agriculture, technology, infrastructure, energy, and education.

There are many parallels between Ukraine and Asean countries. Ukraine is a multiethnic and multireligious state, just like many countries in Asean, and Asean itself is a very diverse region. We all face both external threats and pressure and internal challenges. In Ukraine, the occupation of Crimea since 2014 has shown how aggression can destabilise an entire region and go even beyond. Crimea is central to security in the Black Sea. And it is not just our issue: attacks on ports and grain exports affect global food security. Asean countries know well how maritime security impacts the economy and stability.

We also see common lessons in transitional justice and reconciliation. As an example, Timor-Leste and the Bangsamoro region in the Philippines have been through their own experiences of conflict resolution, peace agreements, and post-conflict elections. Ukraine is now also thinking about the reintegration of occupied territories, the rights of indigenous peoples, and transitional justice. And until recently, we too were under the yoke of a foreign empire. Sharing these lessons makes our dialogue truly valuable.

Academic and cultural exchange is another bridge between our societies. The Global Coalition for Ukrainian and Crimean Tatar Studies, initiated by First Lady Olena Zelenska, can connect with Asean universities and research centres. Joint projects in education, media, and civil society help fight disinformation and promote mutual understanding.

Economically, Asean can find new markets and become a potential investor in Ukraine. Even amid the war, there are many opportunities for cooperation in technology, agriculture, and energy. After the war, reconstruction will open even more possibilities — infrastructure, healthcare, green technologies. At the same time, Ukraine can learn from Asean’s impressive progress in infrastructure and medical technologies, to name a few.

Finally, Asean countries can also learn from Ukraine. The occupation of Crimea shows how the seizure of a maritime region affects not only one country but global security and food supply chains. This is a reminder that aggression anywhere is a threat everywhere.

I believe that there is great potential for deepening ties between Asean and Ukraine, and I mean in practical terms. We live in perilous times, and we all face great challenges. But it is always good to help each other overcome them.

Huawei launches Watch GT 6 Series in Thailand starting at ?6,990

Huawei Consumer Business Group (Thailand) has officially launched the HUAWEI WATCH GT 6 Series, its latest fashion-forward smartwatch line, under the concept ‘Ride the Wind.’ The new series blends cutting-edge design with high-performance features tailored for sports and adventure enthusiasts, especially those into extreme activities like running, cycling, golf, and diving. With over 100 workout modes, advanced health tracking, and compatibility with both iOS and Android via the HUAWEI Health app, the GT 6 Series aims to redefine wearable technology.

Available now starting at ?6,990, customers purchasing between 2 October and 2 November 2025 will receive complimentary gifts worth up to ?8,146. These include HUAWEI FreeBuds 6i, a 3-month Health+ membership, premium golf features, and a one-year ALive insurance package powered by AIA, covering up to ?200,000 for illness and accidents.

The GT 6 Series reflects Huawei’s vision to drive the ‘Fashion Forward’ movement in smartwatches, combining trendsetting aesthetics with powerful functionality. Designed to resonate with a new generation of users who value style, performance, and holistic well-being, the watches come in various models and sizes to suit different lifestyles.

The flagship HUAWEI WATCH GT 6 Pro (46mm) features a premium titanium alloy case, sapphire glass, and a nano-ceramic back. It boasts a 1.47-inch AMOLED display and is available in titanium, brown fabric, and black fluoroelastomer straps. The standard GT 6 (46mm) offers a rugged octagonal design with green or black straps, while the compact GT 6 (41mm) showcases elegance with a 1.32-inch AMOLED screen, Roman numeral bezel, and a new rotating strap clasp for smaller wrists. Strap options include white vegan leather, purple fluoroelastomer, and Milanese gold metal.

All models feature ultra-bright displays with up to 3,000 nits brightness for clear visibility under sunlight and EasyFit 3.0 for quick strap changes. The GT 6 Series also introduces advanced fitness features, including over 100 workout modes, an AI personal coach, and the new HUAWEI Sunflower Positioning System 2.0, which improves GPS accuracy from 10 to 8 metres using six satellite systems.

Cyclists benefit from the industry-first Cycling Virtual Power feature, offering pro-level power metrics. The GT 6 Pro further enhances outdoor sports with trail running analytics, ski tracking, and zoomable golf course maps.

On the health front, the GT 6 Series debuts TruSenseS, a new sensor system for more precise health monitoring. It includes TruSleepS for sleep analysis, Health Insight for holistic wellness data, and an upgraded Emotional Wellbeing system that tracks 12 emotional states in real time, offering stress management tips and emotional balance support.

Battery life is another highlight, with Huawei’s new high-silicon stacked battery technology boosting density by 37% and capacity by 65% over previous models. The 46mm version lasts up to 21 days on typical use, while the 41mm model offers up to 14 days, reducing the need for frequent charging.

The HUAWEI WATCH GT 6 Series is now available in Thailand at HUAWEI Experience Stores, authorised retailers, and online platforms including HUAWEI Store, Lazada, Shopee, and TikTok Shop.

National Security Council backs border fences

The National Security Council (NSC) has approved the construction of fences along the Thai-Cambodian border, Prime Minister Anutin Charnvirakul announced.

Speaking after an NSC meeting, Mr Anutin said on Thursday that the details — such as location, design, and timing — will be determined by the Thai military based on terrain conditions and local needs.

Mr Anutin also addressed the issue of Cambodian encroachment in the areas of Ban Nong Chan and Ban Nong Ya Kaeo in Sa Kaeo, saying that the matter must be handled in accordance with the law while also considering humanitarian principles and the broader implications of any legal actions.

The question of which legal framework to apply — martial law, forestry law, or immigration law — will be considered by the Royal Thai Armed Forces Headquarters in consultation with the Sa Kaeo governor and relevant agencies, including the Interior Ministry, the prime minister said.

When asked about the negotiations with Cambodia regarding the withdrawal of Cambodian forces from disputed territory, the prime minister confirmed that discussions are being held within the framework of the General Border Committee (GBC), before adding that the latest meeting was attended by the Minister of Defence.

He noted that Thailand has set certain conditions for Cambodia. If those conditions are not met, Thailand will not respond to Cambodian requests — for example, to reopen border checkpoints.

“I don’t want to use the word ‘pressure’, because there’s already a great deal of pressure on both sides. But we will take steps to demonstrate clearly that Thailand is ready. If this is the way they wish to proceed, then Thailand is prepared as well,” Mr Anutin said.

“And if Cambodia’s leaders genuinely want to protect the well-being of their own people, they must accept our conditions.”

Foreign Affairs Minister Sihasak Phuangketkeow added that, under the GBC framework, three key points have been agreed upon: Cambodia must clear unexploded ordnance from the area, heavy weapons must be withdrawn, and cross-border crime must be jointly suppressed.

He said detailed discussions are still underway. Notably, Norway has already offered assistance with ordnance clearance, and it is believed that other countries will also be willing to help.

The meeting, the first under Mr Anutin’s government, also endorsed a set of continuing measures to address Thai-Cambodian tensions, building on decisions made at the previous NSC meeting.

These include military and border security strategies, trade controls, and proactive diplomatic engagement at the international level.

The government dismissed a recent report in The New York Times, which claimed China had delivered rockets and artillery shells to Cambodia just weeks before the outbreak of clashes between Thailand and Cambodia.

Defence Minister Gen Nattaphon Narkpanich said the report cited old news, stressing the weapons were delivered prior to the Thai-Cambodian conflict.

He said that if further tensions or conflicts were to arise, China “would carefully consider its actions”.

Thai fuel prices to fall by B0.50 a litre

Retail fuel prices are being reduced by 50 satang per litre from 5am on Saturday as part of a series of government measures to ease the cost of living.

The Fuel Fund executive committee on Friday approved a reduction of the oil fund levy on diesel by 50 satang per litre, and sought cooperation from oil traders nationwide to pass the savings on to drivers, according to Energy Minister Auttapol Rerkpiboon.

As a result, the retail price of diesel at petrol stations in Greater Bangkok is expected to drop from 31.94 baht to 31.44 baht per litre. Prices of all types of petrol and gasohol are expected to be cut by the same amount.

Mr Auttapol said that although the levy collection was reduced, the Oil Fuel Fund’s financial position has shown steady improvement thanks to falling global oil prices, which have eased the pressure on diesel contributions.

As of last week, the fund posted a deficit of 17.8 billion baht, comprising a positive oil account of 24.4 billion and a negative liquefied petroleum gas (LPG) account of 42.3 billion baht.

Prices of LPG, or cooking gas, have been subsidised for years, sometimes by a substantial amount below the market price. However, the current price of 423 baht per 15-kilogramme cylinder is higher than the prevailing market price of 385 baht, so some money has gone back into the fund to reduce its deficit.

Energy officials are expected to review LPG prices and settle on a new rate that is closer to the market price in the near future.

The reduction in the contribution rate for diesel is expected to reduce the fund’s diesel revenue to roughly 31 million baht per day, from 61 million previously. Gasoline revenue is expected to remain steady at around 93.8 million baht per day.

Spread your wings

As Swarovski celebrates “130 Years Of Joy” throughout 2025, expect the maison’s majestic waterfowl gracing the anniversary editions.

Global creative director Giovanna Engelbert has reinterpreted the Swarovski Swan for statement pieces under the commemorative Vienna Collection.

“The swan is a beautiful, almost mythical creature that represents grace, beauty, eternal love and transformation. It was chosen as Swarovski’s emblem because it highlights our eternal love of crystal and the elegance of our artistry and creations,” said the global creative director since 2020.

The logo originally featured an edelweiss as a symbol of purity and beauty. Swarovski modernised its trademark in 1989 with a swan, inspired by the works of Gustav Klimt.

In 2021, Engelbert evolved the logo by placing the swan inside an octagon with strong edges representing the savoir-faire of Swarovski’s artisans.

The know-how includes meticulous crystal setting and high-jewellery techniques, used in crafting the Vienna Collection.

Luminous clear crystals contrast with ruthenium accents in the architectural designs while the kinetic energy of abstract wings and feather-like forms evoke the swan’s graceful movements. Pavé detailing and stones in mixed cuts and sizes intensify the light in each piece.

“I wanted to pay homage to the Swarovski Swan by imagining it in an abstract way, taking flight — a symbol of movement, energy and reinvention. These designs are meant to feel classical in spirit, but with a sharp, contemporary edge that feels alive. They transcend time, taking us from 1895 to 2025 — a journey between heritage and the future,” said Engelbert.

A prelude to the epic, Daniel Swarovski invented an electric cutting machine and applied for a patent in 1891. The revolutionary technology allowed cutting jewellery stones into a variety of shapes and facets.

A new era of crystal production then began in 1895, when Swarovski partnered with Franz Weis and Armand Kosmann in establishing their business in the small alpine village of Wattens in Tyrol, Austria.

With its own melting furnace, the company has been producing crystal glass in-house since 1913. Innovative cutting and polishing techniques further made Swarovski Crystals unrivalled in the way they capture the light and refract it with an intense brilliance, clarity, radiance and depth of colour.

Today, new crystal cuts, shades and sizes are still conceived at the historical headquarters in Wattens. Other materials include Swarovski Created Diamonds with the same optical, chemical and physical attributes as mined stones; and Swarovski Zirconia with the Round Pure Brilliance cut, comparable to Tolkowsky Ideal Cut.

Crystals in various cuts as well as Swarovski Zirconia shimmer on various pieces from the Vienna Collection such as the ruthenium-plated choker with a pear-shape crystal at the tip enhancing the radiance.

The designs of the sculptural choker, matching ear cuffs and bangle are inspired by the swan’s graceful wings.

Octagon-cut crystals and feather-like wings characterise a standout necklace while a fringe-like effect on ear cuffs captures the delicate nature of feathers.

A ring is designed with the swan’s head and neck wrapping around the finger along with dramatic feather-like strands.

The emblematic swans from the Vienna Collection have seemingly migrated to the autumn/winter 2025 collection. The jewellery are designed with the same mixed-cut silhouettes in ruthenium and clear crystals, to further celebrate Swarovski’s 130th anniversary.

Bank of Thailand easing cycle to extend to 2026

The Bank of Thailand is expected to continue its easing cycle for the rest of 2025 amid a slowing economy. It has maintained its growth forecasts at 2.3% for 2025 and 1.7% for 2026. Our 2025 forecast is in line with the central bank’s. However, recent political instability adds downside risks to growth.

We therefore expect the central bank to lower its benchmark policy rate by a further 50 basis points, bringing it to a terminal rate of 1.00% by the end of 2026. We see this delivered in two rounds — one by the end of 2025, most likely in December, and another in the second half of 2026.

Deflationary pressures are mounting. Headline inflation has undershot even our modest expectations so far in 2025, with consumer prices falling by 0.7% year-on-year in July and rising just 0.2% on average in the first seven months of the year. As a result, we now expect no change in consumer prices on average for 2025 — down from our previous forecast of an increase of 0.6% — and see headline inflation ending the year close to zero.

Moreover, the baht has strengthened by around 7% to trade at 32.20 to the US dollar, its strongest since February 2022. In its latest monetary policy statement, the central bank highlighted concerns about the baht’s impact on export competitiveness. These concerns have likely grown since the US imposed 19% tariffs on imports of Thai goods.

That said, monetary easing alone will not be enough to stem appreciation pressure on the baht, especially if investor confidence in the dollar erodes further. The US Federal Reserve is facing increasing political pressure from President Donald Trump, who has publicly and repeatedly advocated for looser monetary policy.

Any US rate cuts could be perceived by markets as politically motivated, potentially undermining confidence in the Fed’s independence, especially if rate cuts occur alongside fiscal slippage or policy uncertainty.

Accordingly, we maintain our forecast for the baht to trade in the range between 32.00 and 33.50 range for the rest of the year.