BANGKOK: Thailand's influential former prime minister Thaksin Shinawatra, a powerful backer of the largest party in the ruling coalition, avoided pre-...
: Thailand's influential former prime minister Thaksin Shinawatra, a powerful backer of the largest party in the ruling coalition, avoided pre-trial detention for allegedly insulting the monarchy after a criminal court granted him bail on Tuesday.
The quartet of court cases has put Thai politics and markets on edge, raising the spectre of instability in Southeast Asia's second largest economy that has struggled to shift gears since it was battered by the COVID-19 pandemic.But the risk of an immediate political crisis appeared to have abated, and Thailand's main stock index gained more than 1% on Tuesday morning before trimming gains, a day after it dropped to its lowest level since November 2020.
Move Forward, which won last year's election but was blocked by conservative lawmakers from forming the government, was taken to court by the election commission over its campaign to amend Thailand's royal insult - or lese majeste - law under article 112 of the criminal code.The lese majeste law is also at the heart of the legal proceedings against Thaksin, who returned to Thailand last August after 15 years in self-imposed exile following his ouster from power by a military coup.
The billionaire successfully secured bail from the Criminal Court of Thailand soon after the Attorney-General formally indicted him earlier on Tuesday.
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