New government boosts confidence in Thai stocks

Equity strategists are raising their year-end estimates for the Stock Exchange of Thailand (SET) index, citing improving domestic political stability and likely interest rate cuts under the new Bank of Thailand governor that could lift corporate earnings and investor sentiment.

Apichat Poobunjirdkul, senior strategist at Tisco Securities, said the formation of a new government and the arrival of a new central bank governor at the start of this month have reinforced market confidence.

Although the government only has four months in office, the inclusion of respected technocrats in key ministries is seen as a constructive move. If policy implementation proves effective and aligns well with the central bank, Mr Apichat expects sustained market support for the rest of the year.

Tisco believes the Monetary Policy Committee will cut its policy rate once more in the final quarter of the year, most likely at the December meeting, due to subdued domestic demand, weaker external conditions, contracting loan growth, deteriorating credit quality, and persistently high household debt.

Two additional cuts are expected in the first half of 2026, leaving the policy rate at 1.25% at the end of this year and 0.75% by year-end 2026.

Historical data since 2000 shows the SET typically reacts positively to easing cycles, delivering average gains of 25% in four of the last five down cycles. The only exception was during the 2020 Covid-19 outbreak.

The current cycle, which began in October 2024, is expected to bottom out by mid-2026, he said.

Tisco projects support for the index at 1,260-1,270 points, with further downside at 1,200-1,220, while resistance stands at 1,315 and 1,360 points.

Meanwhile, weakening US economic indicators, uncertainty over President Donald Trump’s policies, geopolitical risks, and a US government shutdown all favour gold, said Mr Apichat.

Asia Plus Securities (ASPS) also sees a supportive backdrop for Thai equities in the last three months of 2025. External risks, including controversies regarding US tariffs and political noise, have eased while excess liquidity from global fund flows and search-for-yield dynamics should underpin the market, noted the brokerage.

ASPS expects the Thai index to trade between 1,250 and 1,420 points, building on nearly 20% gains in the previous quarter.

As US equities are trading at all-time highs, the brokerage sees risks for global volatility and profit-taking emerging. In contrast, Asian markets, with earnings yields of 6-8% compared with 3% in the US, remain attractive, particularly as Federal Reserve rate cuts typically benefit emerging markets.

ASPS recommends non-financial stocks and seasonal plays such as tourism, hotels, and consumer sectors, which tend to perform strongly in the final quarter of the year.

Mongolia may turn to China for gasoline after Russian import ban

The governments of Mongolia and China are currently in talks regarding the potential launch of trade in petroleum products, particularly gasoline, Azernews reports.

According to Mongolian media, the discussions were confirmed by the Minister of Industry and Natural Resources, Gongoryn Damdinnyam. He noted that the ongoing instability in Russia’s fuel market is prompting Mongolia to explore alternative sources to ensure uninterrupted fuel imports.

‘Russia has pledged to continue fuel deliveries without disruption. However, China has expressed interest in holding regular procurement negotiations and appears ready to supply petroleum products in sufficient volumes,’ Damdinnyam stated.

Concrete steps toward this cooperation are expected to be outlined during the next government meeting.

The minister also emphasized the strategic importance of energy security for Mongolia: ‘The government’s action plan includes the goal of maintaining national fuel reserves sufficient for three to six months. Achieving this requires funding of around $2 billion.’

Currently, Mongolia relies heavily on Russia for petroleum imports-around 95% of its total supply. However, given recent uncertainties, several private Mongolian companies have launched initiatives to explore and develop domestic oil and gas fields. These projects aim to diversify supply sources, strengthen energy independence, and reduce reliance on foreign fuel.

If the deal with China progresses, it would mark a significant shift in Mongolia’s energy policy. For decades, Mongolia has depended almost exclusively on Russia for fuel. A new partnership with China-its other powerful neighbor-could not only improve energy security but also reshape regional trade dynamics. It may even open the door to trilateral energy negotiations involving all three countries, particularly as China continues to invest heavily in Central Asian infrastructure through its Belt and Road Initiative.

Pakistan granted permission to export meat to Azerbaijan

The Trade Development Authority of Pakistan (TDAP) has announced that the country has officially received approval to export meat to Azerbaijan, Azernews reports.

This decision comes after Pakistan’s Animal Quarantine Department fully complied with Azerbaijan’s veterinary and food safety standards.

Following the announcement, TDAP held a meeting with meat exporters and relevant agencies to discuss strategies for entering the Azerbaijani market and expanding export opportunities.

As part of these efforts, TDAP plans to send a delegation of Pakistani meat exporters to Baku in November 2025. Leading Azerbaijani importers have also been invited to an exhibition in Pakistan, aiming to strengthen direct trade and business ties between the two countries.

TDAP official Ather Hussain Khokhar emphasized that this milestone underscores the high quality of Pakistani meat and reinforces the country’s international reputation as a reliable halal producer.

Azerbaijan and UK explore new prospects for defense cooperation [PHOTOS]

A meeting between the Minister of Defense of Azerbaijan, Colonel General Zakir Hasanov, and the UK Ambassador to Azerbaijan, Fergus Auld, took place on October 6, focusing on strengthening defense and security ties between the two countries, Azernews reports.

Colonel General Hasanov highlighted the growing importance of bilateral relations across various sectors, including the military sphere, noting that such cooperation plays a key role in advancing the capabilities of both nations’ armed forces.

Ambassador Auld expressed his satisfaction with the current level of collaboration and emphasized the significance of continued dialogue to further develop defense relations.

The talks, also attended by the UK’s defense attaché in Azerbaijan, Lieutenant Commander Gavin Tarbard, addressed future opportunities for defense cooperation, regional security issues, and other matters of shared interest.

Sweden does not verify the credentials of international educators

Although many Swedish schools offer instruction in English, current legislation allows the hiring of foreign teachers without a Swedish teaching license. According to the law, these teachers must have an educational background equivalent to a Swedish teaching degree and must be capable of teaching in English. However, it has emerged that no government body is actively verifying whether these requirements are actually being met, Azernews reports.

Recent inspections have revealed that many of these teachers are not native English speakers, and in several cases, their pedagogical qualifications are questionable. The responsibility for checking teacher credentials falls entirely on individual schools – a situation that, according to education experts, poses a serious risk to the quality of education.

‘This is unacceptable. The state must ensure that laws and standards are enforced,’ said a representative of Almega Utbildning, a trade organization representing private education providers in Sweden.

Sweden’s Education Minister, Simone Mohamsson, acknowledged the lack of oversight and admitted there are no reliable statistics on how many schools are employing such teachers. ‘It is unacceptable that teachers in Swedish classrooms may not be proficient in either Swedish or English,’ she said, calling for a formal review of the current legal framework.

Sweden has seen a rise in international and bilingual schools in recent years, largely due to increased globalization and growing demand from expatriate families and internationally-minded Swedes. However, this push for internationalization may be outpacing regulatory oversight. Critics warn that without stricter control, the reputation of Sweden’s education system-which is traditionally known for high standards-could be at risk.

ICESCO’s Regional Office participates in Baku International Book Fair [PHOTOS]

The 11th Baku International Book Fair has opened at the Baku Expo Center, featuring the participation of hundreds of local and international organizations, Azernews reports.

Among the most visited pavilions was the booth of ICESCO’s Regional Office in Baku, which attracted a diverse range of visitors, including academics, students, publishers, and culture enthusiasts.

Throughout the fair, the booth has served as a hub for dialogue and the exchange of ideas. Visitors have had the chance to explore publications from five different countries, engage in discussions on scientific and literary heritage, and learn more about ICESCO’s initiatives in education, science, and culture.

Dr. Abdulhakeem AlSenan, Director of ICESCO’s Baku Regional Office, noted that the strong interest reflects growing attention to ICESCO’s mission.

“Our booth has become a vibrant platform for communication, idea-sharing, and promoting a culture of reading and knowledge exchange,” he said.

Over the course of the seven-day fair, more than 220 events will take place.

The significant interest in ICESCO’s booth underscores the importance of this space for cultural exchange and intellectual dialogue.

Note that the main task of ICESCO’s Regional Office in Baku, which opened on April 29, 2025, is to coordinate cooperation between the countries of the Caucasus and Central Asia – Azerbaijan, Uzbekistan, Tajikistan, Kazakhstan, and Kyrgyzstan.

This region is home to unique cultural treasures, ranging from the Great Silk Road to various examples of intangible heritage, and is capable of playing a significant role in shaping the global cultural landscape.

With its rich cultural legacy, Azerbaijan joined the Islamic World Educational, Scientific, and Cultural Organisation (ICESCO) in 1991.

Since then, Azerbaijan has actively promoted the preservation of its Islamic cultural heritage.

The country successfully collaborates closely with various organisations, including the Organisation of Islamic Cooperation, the Islamic Development Bank, the Islamic Conference of Parliamentary Union, and the Islamic Conference of Youth Forum.

The 11th Baku International Book Fair runs until October 7 at the Baku Expo Center.

This year’s fair, under the theme “Technoman: yesterday’s legend, today’s event,” provides a platform for in-depth discussions on the role of technology in shaping human life within the modern scientific and cultural context.

The event features 41 international organizations from 18 countries, alongside over 100 local publishers, printing houses, and book-related institutions.

Over 250 events, including masterclasses for both children and adults, book presentations on topics like inclusion, book signings, conferences, symposiums, contests, as well as reading and music sessions are being held throughout the fair.

Notable authors and scholars from countries including Turkiye, Argentina, the UK, Lithuania, Qatar, and more are participating in the event.

Shuttle buses are available for visitors from “Elml?r Akademiyasi,” “28 May,” and “Koroglu” metro stations to the Baku Expo Center. Entry to the fair is free, and it is open daily from 10:00 to 20:00.