REUTERSThe row between the government and the Bank of Thailand (BoT) over its "high" interest rate is all over the news. Prime Minister Srettha Thavisin goes so far as to say that a "high" interest rate hinders economic development. Let me add that the US Fed's policy interest rate is 5.25%-5.5%; the UK's policy interest rate is 5.25%; and the EU's policy interest rate is 4.5%. By the way, the "high" interest policy rate in Türkiye at that time was 24.0%, not 2.5%. The public and even governments do not understand the job of a central bank and, more importantly, how a central bank manages the monetary system.

A Rio de Janeiro museum that was engulfed by fire has received a massive donation of fossils. Burkhard Pohl says the donation was to help the centuries-old museum rebuild its collection.

The government has been pushing the Bank of Thailand for months to cut interest rates. Even if the central bank cuts the rate, any reduction would be gradual and have a minimal impact on pumping up the economy, said Mr Kiatanantha. He said removal of the central bank governor could occur if his policies or mistakes caused a severe impact to the economy. BMI, a unit of New York-based Fitch Solutions, said rate cuts will do little to alleviate the current Thai economic issues. Amonthep Chawla, chief economist at CIMB Thai Bank, reiterated the importance of the central bank maintaining independence from political influence.

SpaceX CEO Elon Musk on Monday (May 6) said he sees great potential for artificial intelligence (AI) to enhance human civilization, but not when it comes to space travel.

Ministers in reshuffled govt now assigned tasksNew cabinet photo op: Prime Minister Srettha Thavisin, centre, leads new cabinet ministers during a group photo at Government House before a cabinet meeting on Tuesday. (Photo: Chanat Katanyu)The new tasks for the reshuffled government have now been designated, with Deputy Prime Minister Phumtham Wechayachai assigned to oversee the Ministry of Defence, Deputy Prime Minister's Office spokeswoman Kenika Ounjit said on Tuesday. His scope of work as deputy prime minister also oversees the Prime Minister's Office of the Permanent Secretary, the Public Relations Department (PRD), and the Office of the Consumer Protection Board (ONCB), said Ms Kenika. Regarding the assignments of the other five deputy prime ministers, Ms Kenika said they have all been assigned to oversee ministries and some bureaus under the government's operation. Prime Minister Srettha Thavisin said as long as the government can fulfil its commitments, people will have faith in the new cabinet.

Thai drinks firm plans Singapore IPO for coconut water exporterAn SGX sign is pictured at Singapore's stock exchange. (File photo: Reuters)Thai drinks maker General Beverage Co Ltd is planning a Singapore initial public offering (IPO) for a unit that distributes its brands including IF coconut water overseas, according to people familiar with the matter. General Beverage has submitted an application to list on the Singapore stock exchange's Catalist platform, the people said. A representative for Singapore's stock exchange declined to comment. First-time share sales have been subdued in many markets, and Singapore is no exception.

Adapting to a hotter worldThe arrival of rains this week might have cooled off what has been an unusually hot season, which saw temperatures reaching 45C. Meanwhile, as the world gets hotter, there are governments rolling out "heat action plans" to help people cope and adapt to the searing heat. Freetown City in West Africa's Sierra Leone has also rolled out "heat action plans" with mitigation plans for low-income communities, which include extra shade, mist fans and water sprays in markets. Two days later, the Office of the Basic Education Commission under the Ministry of Education announced heat action plans for primary schools countrywide. Yet, policymakers, as well as provincial governors, should prepare better measures to help people cope with what will come in the future.

U.S. President Joe Biden and First Lady Jill Biden addressed the importance of immigration during the Cinco de Mayo celebrations at the White House this Monday (May 6).

Researchers in Israel are turning to artificial intelligence to comb through piles of records to try to identify hundreds of thousands of Jewish people killed in the Holocaust, including those whose names are missing from official memorials.

Soft power cooperation the core of France talksThailand is pursuing an exchange of know-how with France on the promotion of soft power in key areas covering fashion and tourism, according to the Department of Trade Negotiations (DTN). Thailand will exchange knowledge and experience with France in the field of soft power exploitation. The visit followed Mr Srettha's recent trip to France, where he invited business leaders to discuss Thailand's soft power potential. Paetongtarn Shinawatra, leader of the ruling Pheu Thai Party and chairwoman of the National Committee on Soft Power Development and the Pheu Thai Party's leader, has announced the government will kick off its One Family One Soft Power (Ofos) project in June, and aims to create 20 million jobs with a minimum annual salary of 200,000 baht. Thailand and France retain close ties in aeronautics, rail transport and intellectual property, according to the DTN chief.

(Photo: Varuth Hirunyatheb)The Suvarnabhumi Airport master plan is being revised to prioritise terminal construction and expansion projects to cater to fast-growing passenger traffic demand, according to the Airports of Thailand (AoT). The master plan looks into investments in three projects: the western expansion as well as the construction of the southern terminal and the Satellite 2 building. It is equipped with a four-storey office building and a carpark building as well as a walkway platform connecting the main terminal. Mr Kirati said ultimately the southern terminal project will need to be built, given the constant rise in air travel demands. The AoT oversees the operations of six main airports: Suvarnabhumi, Don Mueang as well as Phuket, Krabi, Chiang Mai and Chiang Rai airports.

French President Emmanuel Macron and EU Commission chief Ursula von der Leyen urged Chinese President Xi Jinping on Monday (May 6) to ensure more balanced trade with Europe, but the Chinese leader showed little sign of being ready to offer major concessions.

TOURISM FEE NOT A SOLUTIONSome tourism operators suggested collecting fees from tourists to prevent overtourism, reviving the 300-baht tourism fee scheme. Thailand's tourism fee scheme was studied by the previous government and finalised. Power demand increases rapidly during the hot season, creating some challenges. This is why maintenance programmes and repair work for power plants are scheduled outside of summer, ensuring they can continue to supply electricity, said Mr Jakgree. He said power supply should be sufficient throughout the hot season despite several new power demand peak records, attributed to power generation capacity in reserve that exceeds 25% of total capacity.

Australian police said on Sunday (May 5) they had shot dead a boy after he stabbed a man in Western Australia's capital Perth, in an attack authorities said indicated terrorism.

The winner-take-all economy is ruining art, tooI was on the whole disappointed by this year's Whitney Biennial -- it was hard for me to tell if one video installation was art or an HR training video -- but as an economist, I have to admit the exhibition was successful in at least one respect: It did what art is supposed to do, which is to hold up a mirror to our society and economy. This is the problem with the winner-take-all economy. Becoming the Taylor Swift of the art world requires jumping through a series of hoops arranged by elite institutions. This is true in many fields, but it is especially true for art in part because it is often hard to judge what makes art valuable. Which brings me back to the Whitney Biennial.