Bombs rattle Bangkok during ASEAN summit, wounding two
Bangkok: At least two small bombs exploded in Bangkok on Friday, rattling the Thai capital as it hosted a regional summit attended by US Secretary of State Mike Pompeo and leaving two people wounded.
Prime Minister Prayut Chan-O-Cha was told of "the bombing incidents and has ordered an immediate investigation", Thai government spokeswoman Narumon Pinyosinwat said, adding "security measures have been tightened.
The public is urged not to panic." Two women were wounded in one explosion just outside the city centre, the Erawan Emergency Centre told AFP.
A second explosion shattered glass near a well known downtown skyscraper, emergency police added.
Bomb disposal experts were deployed around the Mahanakorn Tower -- owned by the King Power group that counts Leicester City football club among its assets.
There were unconfirmed reports of several other devices being found across the city. The bombings took place just before a keynote speech by Pompeo, who has joined the Southeast Asian Foreign Ministers meeting. The government urged the media to avoid speculation on the motive for the bombings.
The blasts come weeks after former junta leader Prayut was inaugurated as a civilian prime minister, sparking outcry among many pro-democracy supporters in the deeply politically divided kingdom.
The incidents raise the uncomfortable memory of Thailand's last hosting of the Association of Southeast Asian Nations (ASEAN) in 2009.
Then, protesters from the pro-democracy "red shirt" faction smashed their way into the summit venue in the resort city of Pattaya demanding elections.
Pandemonium ensued, with a number of leaders having to be rescued from a hotel roof by Thai army helicopters while others fled by boat.
Thailand has a long history of political violence linked to mass protests, coups and short-lived governments. (AFP)
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Iran unrest hits basmati rice exports, prices fall sharply as payment delays mount: Industry body
New Delhi (PTI): Civil unrest in Iran has started impacting India's basmati rice exports to the country, leading to a sharp fall in domestic prices, as exporters face payment delays and mounting uncertainties, an industry body said on Tuesday.
The Indian Rice Exporters Federation (IREF) urged exporters to reassess risks on Iranian contracts and adopt secured payment mechanisms, warning against over-leveraging inventories meant for the Iranian market.
India exported USD 468.10 million worth of basmati rice to Iran during April-November of 2025-26 fiscal, totalling 5.99 lakh tonnes, trade data showed.
Iran is India's top basmati rice export destination, but the current financial year has seen growing stress on order flows, payment cycles, and shipment schedules due to the prevailing instability.
The impact is now clearly visible in domestic mandis. Over the past week alone, prices of key basmati varieties have registered a steep decline, reflecting buyer hesitation, delayed contracts and heightened risk perception among exporters.
The domestic price of basmati rice variety 1121 has come down to Rs 80 per kg from Rs 85 per kg last week, while varieties 1509 and 1718 declined to Rs 65 per kg from Rs 70 per kg.
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"Iran has historically been a pillar market for Indian basmati. However, the current internal turmoil has disrupted trade channels, slowed payments and dented buyer confidence," IREF National President Prem Garg said in a statement.
He said exporters must exercise heightened caution, particularly with respect to credit exposure and shipment timelines.
Importers have conveyed their inability to honour existing commitments and remit payments to India, creating uncertainty for exporters, the federation said.
IREF has issued an advisory and appealed to stakeholders to diversify into alternative markets across West Asia, Africa and Europe to cushion any prolonged slowdown in Iran-bound shipments.
"We are not sounding an alarm, but urging prudence. In periods of geopolitical and internal instability, trade is often the first casualty. A calibrated approach is essential to protect both exporters and farmers," Garg noted.
US Tariff Concerns
The federation also addressed concerns over the recent remarks by US President Donald Trump, indicating that countries continuing trade with Iran may face a 25 per cent tariff.
IREF clarified that Indian rice exports to the US are already subject to a 50 per cent tariff, up from 10 per cent earlier.
Despite this, Indian rice exports to the US have remained resilient. India exported 2,40,518 tonnes of Basmati and non-Basmati rice to the US during April-November 2025-26, compared to 2,35,554 tonnes in the entire 2024-25 fiscal.
The US is the 10th largest market for Indian rice globally and the fourth largest for Basmat rice.
"There is limited clarity on whether the proposed 25 per cent tariff would be levied over and above the existing 50 per cent duty," the federation noted, adding that it does not foresee a significant decline in exports even if tariffs rise further, given the unique position of Indian Basmati in global markets.
However, IREF expressed greater concern over developments in Iran, where disruptions in local markets have affected trade settlements. Importers have conveyed their inability to honour commitments and remit payments to India, creating heightened uncertainty.
While similar crises have occurred in the past, the trajectory of the current situation remains unclear and is expected to cause further disturbances in prices, liquidity, and trade sentiment in the weeks ahead, the federation added.
