Pathom Sangwongwanich

(Bloomberg) -- Former Thai leader Thaksin Shinawatra’s daughter is set to become the Southeast Asian nation’s next prime minister, signaling policy continuity after another party member was ousted from the top job on Wednesday.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionJohannesburg Mayor Quits Am

Thailand’s newly-appointed Prime Minister Paetongtarn Shinawatra vowed to push ahead with a controversial $14 billion cash stimulus plan as her cabinet finalized a blueprint to free Southeast Asia’s second-largest economy from a prolonged period of low growth and chronic household debt.

Thailand’s baht is on course for its biggest quarterly gain since the Asian financial crisis, threatening to derail a recovery in the nation’s key tourism and export industries.

Thai Finance Minister Pichai Chunhavajira said the Bank of Thailand will consider cutting interest rates, following a meeting with Governor Sethaput Suthiwartnarueput in Bangkok today.

Areas of a key tourist city in northern Thailand, as well as the surrounding provinces, have been flooded by swelling water levels of a major river in addition to a dam exceeding storage capacity.

Thailand’s government has issued a flood warning to 11 central provinces, including Bangkok, as a major dam located along the Chao Phraya River prepares to release water.

Thailand expects foreign tourist arrivals to reach 40 million next year, topping the pre-pandemic record with authorities enlisting the help of companies including Trip Group Ltd. and Expedia Group Inc. to lure travelers.

A subsidiary of Dubai-based Damac Group is investing around $1 billion in a data center project in Thailand, the latest to join a global push by technology companies to build cloud and AI infrastructure in Southeast Asia.

Thailand’s inflation stayed below the central bank’s target for a fifth straight month, building pressure on the monetary authority to continue with rate cuts to boost price gains and the economy.

Thailand’s cabinet approved two additional holidays next year to encourage people to travel during the long weekends to stimulate tourism and support Southeast Asia’s second-largest economy.