Thailand’s Deputy Prime Minister emphasized maritime boundary delimitation as key in UNCLOS proceedings with Cambodia, while addressing land border tensions and confirming readiness for upcoming meetings in The Hague.

Key Points

• Deputy Prime Minister Sihasak Phuangketkeow emphasized Thailand’s commitment to maritime boundary delimitation in conciliation proceedings with Cambodia under UNCLOS, following the first Commission meeting in Singapore on September 16, 2026. Thailand presented its position and responded to the Commission’s inquiries in alignment with international law.
• Thailand’s delegation, which includes the Ministry of Foreign Affairs and relevant agencies, is preparing for the upcoming meeting in The Hague, attended by Cambodian representatives.
• Responding to reports of Cambodian troops digging trenches at Hill 450, Sihasak noted the issue relates to land borders and doesn’t directly impact the maritime conciliation process. He stated that such developments could affect the atmosphere of discussions, while refraining from speculating on their intent pending an investigation.

Deputy Prime Minister and Minister of Foreign Affairs Sihasak Phuangketkeow stated that Thailand has reaffirmed that maritime boundary delimitation remains its primary focus in the conciliation proceedings with Cambodia under the United Nations Convention on the Law of the Sea (UNCLOS).

​Following the Conciliation Commission’s first meeting in Singapore on September 16, 2026, the Deputy Prime Minister said both parties presented their positions. Thailand addressed the Commission’s questions in accordance with international law and clearly outlined its stance on maritime delimitation.

​Thailand’s delegation, which includes the Ministry of Foreign Affairs and relevant agencies, is preparing for the next meeting in The Hague, the Netherlands, which Cambodian representatives have also agreed to attend.

​Addressing reports of Cambodian troops digging trenches at Hill 450 near Chong Kradon and Chong Sa-ngam in Phu Sing District, Sisaket Province, the Deputy Prime Minister said the issue pertains to the land border and is not directly part of the UNCLOS maritime conciliation process. He added that developments along the land border could influence the atmosphere of discussions and mutual trust.

​When asked whether the reported incident was intended to create tensions during the UNCLOS meeting, Sihasak declined to speculate, saying that relevant authorities will conduct a thorough factual investigation before making any official conclusions.

Source : Thailand Reaffirms Maritime Delimitation as Priority in UNCLOS Conciliation

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Sensex gained around 245 points to trade at 74,586 while Nifty 50 gained more than 104 points to trade at 23,321, as seen at 10.15 am. Broader markets also swung into the green, with Nifty Midcap 100 and Nifty Smallcap 100 rising nearly 1% each.

Zomato and Blinkit parent Eternal saw its shares jump around 3% to lead gains on Sensex. Bajaj Finance shares rose nearly 2%, while those of BEL, ITC and Axis Bank were up over 1% each. Bucking the trend, HDFC Bank, TCS, HCL Tech and Infosys shares fell nearly 1% each.

All sectoral indices except Nifty IT were trading in the green, with Nifty Metal, Nifty Pharma, Nifty PSU Bank, Nifty Auto and few others rising around 1% each. The overall market breadth turned positive, with NSE seeing 2,316 advances against 827 declines, while 105 stocks remained unchanged.

Also read | Explained: What US Fed’s first 25 bps rate hike in 3 years means for Indian stock market

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Federal Reserve hikes rate

The US Federal Reserve on Wednesday announced its first interest rate hike since 2023, with officials expecting one more increase later this year. The American central bank’s Federal Open Market Committee (FOMC) announced the decision after a two-day meeting, increasing the benchmark interest rate by 25 basis points to a range of 3.75-4%. This comes after consumer inflation stayed at 3.4% in August, same as last month but still much higher than Fed’s 2% target. Inflationary pressures were further intensified by soaring energy prices amid renewed tensions in the Middle East.
“There are no immediate signs for inflation to ease, especially given the stalemate in the Middle East. This means the Fed may need to continue to tighten to achieve its target,” Tai Hui, APAC chief market strategist at JP Morgan Asset Management, was quoted as saying by Reuters. Traders are now expecting a 50% chance of another Fed hike next month to rein in inflation. A total of three rate increases have been priced in for this tightening cycle.

Why caution is still warranted?

While the Indian stock market trades in the green, caution is still warranted. Today is Sensex’s weekly expiry day, which typically sees sharp volatility towards the end of the session. Additionally, bond yields remain elevated, with the benchmark US 10-year Treasury yield above the crucial 5% mark.

The Indian rupee weakened past the 96-mark against the US dollar today, marking the first time in over a month, driven by a stronger US dollar after the Federal Reserve raised interest rates and signalled further tightening. FIIs have also been selling heavily on Dalal Street.

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What lies ahead for Dalal Street?

The Fed’s decision to raise rates by 25 bps was completely on expected lines, as there was no justification for a hold in rates in the context of elevated inflation and a resilient economy with only 4.1% unemployment, said V K Vijayakumar, Chief Investment Strategist, Geojit Investments. He added that the hawkish message from Kevin Warsh that “inflation has been too high, and has been for too long” and that “ this committee will deliver price stability” can be construed as reassuring to the markets.

However, high bond yields will continue to weigh on equity markets, according to the analyst. Under normal circumstances, he feels that 5% yield on the 10-year would have triggered a sell-off in equity markets. But this is not happening now since US corporate earnings continue to be good. Warsh’s comment that “new hirings, private sector earnings and business capital investment point in a good direction” reflect a resilient economy and strong corporate sector, the analyst said, noting that this has the potential to act as a counterbalance to the high bond yields, thereby preventing a sell-off in the equity markets.

“The Indian market will continue to struggle. FIIs have been continuous sellers in India during the last six days and this trend is likely to continue. Another concern is the news of the U.S. House of Representatives passing a bill to impose a 100% tariff on countries like India which import oil from Russia. The geopolitical scene and Trump’s policies are getting murkier,” Vijayakumar warned.

(With inputs from agencies)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Nick Jenkins, founder of Moonpig.com, says the event is ‘a great opportunity’ for business owners

Entrepreneurs are being offered the opportunity to pitch their businesses to a former Dragons’ Den star at a free event in Wiltshire next month.

The owners of early-stage, product-based companies who are preparing for their first investment are being invited to pitch their proposal – in return for “constructive feedback” – to a panel that includes Nick Jenkins, founder of Moonpig.com, at the West Wiltshire Business Expo.

Mr Jenkins, who starred in the hit BBC show for two series, said he was “excited” to be “helping Wiltshire businesses on their journey”.

The former ‘Dragon’ has lived in Wiltshire since 2010 and founded the online greeting cards and gifting company Moonpig in 1999 after an eight-year career as a commodity trader with Glencore in Moscow.

The business grew to five million customers before it was sold in 2011 for £120m and floated on the London Stock Exchange in 2021 with a valuation of £1.2bn. Mr Jenkin’s current investment portfolio features low-carbon tech and biotech businesses.

He will be joined on the panel by Monty George, co-founder of Wiltshire online furniture brand Furniturebox, which has a turnover exceeding £25m and recently opened a £3m state-of-the-art distribution centre in Chippenham.

“The Dragons’ Den [session] is a great opportunity for the founders of Wiltshire businesses to fine tune their business pitches and get ready for their first investments.” said Mr Jenkins.

Mr George, who started Furniturebox with his friend Dan Beckles in 2015 while still at school, said: “I’m delighted to be taking part in the Dragons’ Den panel at the West Wiltshire Business Expo.

“Having started Furniturebox at 17, I understand first-hand many of the challenges young entrepreneurs face when building a business. I’m looking forward to sharing some of the experiences and lessons I’ve learned along the way and to hopefully offering some useful advice to those taking their own ideas forward.”

The West Wiltshire Business Expo, which is free to attend, is organised by the Trowbridge Chamber CIC, one of the largest business groups in Wiltshire, in partnership with the Federation of Small Businesses (FSB).

Speakers include the CEOs and directors of some of Wiltshire’s largest businesses, including Apetito, Nutricia, Good Energy, Danone, Wiltshire Farm Foods and Wiltshire College & University Centre. The leader of Wiltshire Council and a number of West Wiltshire MPs are also attending.

The event is taking place at The Civic in Trowbridge on Thursday, October 8. Entrepreneurs looking for pitching practice and business advice are being asked to email dragons@trowbridgechamber.com to request an application form for the event.

Free tickets to the West Wiltshire Business Expo can be booked via Eventbrite.

Economists have warned that pressure to increase rates is mounting as inflation rises to a five-month high

The Bank of England is expected to maintain interest rates at 3.75 per cent, though economists have cautioned that pressure to increase rates is building as inflation climbs. Most economists believe the Bank’s Monetary Policy Committee (MPC) will choose to leave interest rates unchanged at its forthcoming meeting on Thursday.

It would mark the sixth consecutive occasion the MPC has held rates steady, having remained at the same level since December.

Experts believe policymakers will persist with a “wait-and-see” strategy, particularly regarding the Middle East conflict and its impact on the UK economy.

Nevertheless, three members of the nine-strong MPC – Huw Pill, Megan Greene and Catherine Mann – voted to raise rates to four per cent at the previous meeting, and economists anticipate the same outcome at the next one.

This comes amid a backdrop of rising prices across the UK, with Consumer Prices Index (CPI) inflation climbing to 3.1 per cent in August, up from 2.9 per cent in July, according to the most recent official data.

This represented a five-month peak and demonstrates that CPI inflation has drifted further from the Bank of England’s two per cent target rate.

Numerous economists are predicting the cost of living will rise further, with households confronting another increase in their energy bills from next month, which could prompt the Bank to lift interest rates in the coming months.

Experts have said that services inflation — which reflects pricing trends within the UK’s dominant sector — held steady at 3.4 per cent in August, suggesting an absence of so-called second-round effects, such as escalating wage demands and broader increases in shop prices.

Nevertheless, inflation is widely anticipated to climb once Ofgem’s next energy price cap comes into effect in October, which will push household energy bills up by four per cent for a typical dual-fuel household.

Thomas Pugh, chief economist at RSM UK, said: “The rise in inflation in August is just the start of a new upward trend as higher energy, food and memory chip prices continue to make their way through supply chains.

“We now see inflation peaking at almost four per cent in early 2027, before gradually dropping back to two per cent in 2028. The MPC will hold this week, but inflation at four per cent is realistically too hot to ignore.”

Charlotte O’Leary, associate economist for the National Institute of Economic and Social Research (Niesr), said the MPC would also be keeping a close eye on the recent surge in oil prices, with Brent crude oil rising above 107 dollars a barrel this week.

“Nevertheless, with limited evidence of second-round effects so far, we expect the MPC to hold rates on Thursday,” she said.

“However, mounting inflationary pressures, alongside resilient growth data, may eventually grant scope to raise rates without materially damaging the economy.”

Economists for Pantheon Economics said there is a possibility the MPC “toughens its language” at the next rates announcements “to open up the possibility of a November hike if energy prices keep ramping up”.

“A four per cent inflation peak would already be too hot to hold, but further energy price rises could take inflation even higher,” they said. “The MPC needs to be ready.”

Last week, the European Central Bank lifted its interest rates for the second time this year, cautioning that the Iran war continues to generate inflationary pressure.

Meanwhile, the US Federal Reserve is broadly anticipated to raise its rates for the first time since 2023 on Wednesday evening.