Good morning,

Thousands more jobs have been lost as footwear companies have closed owing to the high baht and the parlous state of the economy this year (http://www.nationmultimedia.com/2007/08/02/headlines/headlines_30043376.php). Union Footwear and Rangsit Footwear have closed down with the immediate direct loss of more than 4,300 jobs. Four other companies in a variety of sectors are also on the verge of closure, with the threatened loss of more than 2,100 jobs. Unemployment figures from across the country are expected shortly. Rising input costs and increasing competition from Vietnam, India and China are also blamed (http://www.bangkokpost.com/News/02Aug2007_news01.php).

The Stock Exchange of Thailand slumped more than 3% yesterday as part of the trend of following the collapsing American exchanges (http://www.bangkokpost.com/News/02Aug2007_news03.php). America is faced not just with the world situation but with its apparently imploding housing market. Most East Asian exchanges fell several per cent yesterday and more falls are predicted today.

A bomb blast at a police station in Pattani led to the wounding of three officers (http://www.bangkokpost.com/breaking_news/breakingnews.php?id=120604). Seven bomb blasts in Narathiwat killed one villager and wounded a dozen others (http://www.bangkokpost.com/News/02Aug2007_news15.php). Meanwhile, five schools in Bangkok received bomb threats which appear to have been hoaxes, with a great deal of concern caused (http://www.nationmultimedia.com/breakingnews/read.php?newsid=30043282).

Back tomorrow.