Thailand's 26-member Cabinet to be sworn in before King

    BANGKOK, Oct. 9 (Xinhua) -- Thailand's 26-member Cabinet will be sworn in before King Bhumibol Adulyadej Monday afternoon, the Thai News Agency reported.

    Chief government spokesman Yongyuth Mayalarp said the monarch approved the Cabinet line-up late Sunday night and the Cabinet will be sworn in before the King in Chitralada Palace at 5 p.m. (1000 GMT) on Monday.

    The appointment of Bank of Thailand Governor Pridiyathorn Devakula as Minister of Finance and deputy prime minister for finance went hand in hand with Bangkok Bank Executive Chairman Kosit Panpiemras as Minister of Industry and deputy prime minister.

    Nitya Pibulsonggram, a former envoy to Washington, was appointed as the foreign minister and the lead negotiator in the controversial free trade talks with the United States.

    Reflecting the Special Warfare background of interim Prime Minister Surayud Chulanont, General Bunrod Somtad was named defense minister. Enditem

Top Thai bankers satisfied with new cabinet line-up

    BANGKOK, Oct. 9 (Xinhua) -- Chairman of Thai Bankers' Association Jada Wattanasiritham on Monday said that investors' confidence on the country's economy will be renewed after they saw the new cabinet line-up, Thai News Agency (TNA) reported Monday.

    She said each cabinet member, as announced early Monday by the interim government, had competency and expertise in a given assignment.

    Among the new cabinet list, former Bank of Thailand governor Pridiyathorn Devakula was appointed as Minister of Finance and deputy prime minister, while former Bangkok Bank executive chairman Kosit Panpiemras as Minister of Industry cum deputy prime minister.

    Jada, who is also president of Siam Commercial Bank, said what financial institutions want from the new government is just stability and efficient supervision of money, capital, currency exchange and financial institutional systems.

    She said she believed investors would have more confidence when there is a new cabinet.

    "Normally, investors will return to invest when their confidence is restored. Most had not stopped their investment recently. We believe loan applications will increase late this year because it is a high season of tourism and exports," she was quoted by TNA as saying.

    Chatisiri Sophonpanich, President of Bangkok Bank, said most members of the new cabinet had an image of high competency and reliability. So, he believed it would be able to boost confidence in the country.

    Once investors had confidence, he added, loan applications would return to increase as normal.

    The bank still maintained the target loan growth of around 3-4 percent for this year, he said. Enditem