PRESS DIGEST - Thai newspapers - July 11

BANGKOK, July 11 (Reuters) - These are some of the leading stories in Thai newspapers on Friday. Reuters has not verified these stories and does not vouch for their accuracy.

TOP STORIES

- There will be a major cabinet shuffle to fill vacant ministerial posts and shakeup economic portfolios, Finance Minister Surapong Suebwonglee said (THE NATION)

- Foreign Minister Noppadon Pattama is not yet in the clear, despite his decision to resign in a show of spirit over the Preah Vihear temple joint communique found to be unconstitutional (BANGKOK POST)

- Election Commission chairman Apichart Sukhagganond will set up a committee to determine whether there are grounds to seek the dissolution of the People Power Party now that a court has found one of its executives guilty of electoral fraud (THE NATION)

BUSINESS

- Former prime minister Thaksin Shinawatra has scaled Thailand's rich list despite having $2 billion in assets frozen while he stands trial for corruption, according to Forbes magazine (BANGKOK POST)

- The Finance Ministry will seek Cabinet approval this month for a further cut in the excise tax on E85 gasohol (THE NATION)

- The Energy Ministry is urging industrial operators to shift to natural gas and away from liquefied petroleum gas, which will cost more later this month (THE NATION)

- A spate of negative factors, including anxiety over the U.S. sub-prime mortgage crisis, spiralling inflation and local political tension, has turned the punch-drunk Thai stock exchange into a bear market (THE NATION)

- State-owned TOT PCL announced a plan to invest 30 billion baht ($892 million) in thrid-generation mobile-phone services to be ready for commercial launch within one year (BANGKOK POST)

** Looking for more information from local sources? Factiva.com has eight Thai sources including the Bangkok Post and Business Day. ($1=33.65 Baht)