Trump Threatens to Annihilate Iran as US Envoy Pushes Ceasefire Deal Ahead of Midterms

South Korean President Lee Jae-myung and US President Donald Trump agreed that discussions on a strategic investment project between the two countries have made significant progress, after the two met for 30 minutes on the sidelines of the United Nations General Assembly yesterday. Wi Sung-lac, South Korea's national security adviser, said the two leaders also agreed to strengthen cooperation and continue discussions on various issues under the joint statement issued after their summit last November, including nuclear fuel reprocessing, nuclear-powered submarines, shipbuilding, and the transfer of wartime operational control of military forces from the United States to South Korea. Trump also reaffirmed his readiness to open negotiations with North Korea again, and the two leaders agreed to maintain close contact to advance the peace process. The meeting came after South Korea's Ministry of Industry reported to legislators yesterday on implementation plans under the two countries' 350 billion dollar investment package, which includes a gas-fired power plant in Texas identified as possibly the first investment project under the package, as well as the possibility of investment in nuclear energy and a liquefied natural gas project in Alaska. Wi said President Lee also views the US-China summit scheduled for Thursday as important for developments in the region, including South Korea-China relations, and expressed hope that the meeting will be successful.

The Chulalongkorn University Property Office is seeking the return of a large 291-rai plot in the heart of Bangkok, in the Sam Yan–Pathum Wan area, to develop public space and upgrade Suphachalasai Stadium to world-class standards. Meanwhile, the Department of Physical Education will close Nimibutr Stadium on October 1 and relocate to Thanyaburi, eyeing an area in Bang Ping for a new office and sports stadium. Uthenthawai is hurrying to find a new site, while MBK is in negotiations to renew its contract ahead of a major transformation. On the government side, authorities are overhauling data center regulation covering power, water, the environment, and urban planning, and are set to lock in rules for hyperscale facilities of 100 MW and above, mandating the use of Thai materials, with a timeline for the new criteria to take effect in mid-October 2026. As for the Thai Help Thai Plus Phase 2 measure, its budget came in below market expectations, leading Kasikorn Securities to view it as not a significant positive factor, Bualuang Securities to see it as neutral for stocks, and Yuan Ta Securities to say the market has already priced it in. In the oil and refinery group, the global diesel market is facing severe tightness due to the wars in Iran and Ukraine. The Ministry of Energy acknowledges the Oil Fund's position is critical, with daily subsidies of 800 million baht and a deficit approaching 100 billion baht, and has signaled an increase in retail diesel prices. The latest loan tranche of 20 billion baht has been fully credited to the account, leaving as a last resort a request for the Finance Ministry to guarantee a new round of borrowing.

PTT Exploration and Production Public Company Limited, or PTTEP, has announced progress in developing the Bussabong gas field in the G3/65 project in the Gulf of Thailand. Its subsidiary, PTTEP Energy Development Company Limited, or PTTEP ED, has made a final investment decision, or FID, to develop the gas field, building on the success of its exploration discovery of natural gas and moving into the development phase. Development of the field will take approximately two years, with gas production expected to begin in 2028 at a rate of about 30 million cubic feet per day, rising to 40 million cubic feet per day by 2030 to meet the country's growing future energy demand. The development will produce natural gas through a subsea pipeline system linked to the central processing platform and production facilities of the nearby Bongkot North field in the G2/61 project, where PTTEP is already the operator, allowing the Bussabong field to be developed more efficiently and quickly. The plan will proceed after receiving approval from the relevant government agencies. There are also plans to drill exploration wells in the Nong Yaow Northeast area to assess additional petroleum potential, and if petroleum is discovered, it could further increase production rates for the G3/65 project in the future. For the G3/65 project, PTTEP was granted petroleum exploration and production rights under a production sharing contract, or PSC, starting in 2023, covering an area of approximately 11,647 square kilometres. After the conditions for transferring an investment stake under the farm-out agreement were completed, PTTEP holds a 60 percent investment stake and remains the operator, while Valuera Energy (Chaiyaphruek) Company Limited holds a 40 percent stake. PTTEP currently has more than 50 petroleum exploration and production projects in more than 10 countries worldwide, and in Thailand it has 20 projects, both onshore and in the Gulf of Thailand.