PRESS DIGEST - Thai newspapers on May 27

BANGKOK, May 27 (Reuters) - These are some of the leading stories in Thai newspapers on Tuesday. Reuters has not verified these stories and does not vouch for their accuracy.

TOP STORIES

- PM's Office Minister Jakrapob Penkair announced he was taking seven days leave and immediately accused Abhisit Vejjajiva and his Democrat party of intentionally mistranslating his controversial speech on patronage with the purpose of forcing him from office (BANGKOK POST)

- Thai ambassadors have expressed concern over the ongoing street protests, saying they could destroy confidence in the Kingdom (THE NATION)

- An initiative to introduce E85 gasohol, the 85 percent ethanol-blended gasoline, to the Thai market received a boost when the government decided to cut the excise tax on it to promote the use of alcohol-fuelled cars (BANGKOK POST)

- The Assets Examination Committee has reached a preliminary conclusion that ousted prime minister Thaksin Shinawatra should be prosecuted in accordance with the justice system and that his assets of 76 billion be seized for the state coffers (THE NATION)

BUSINESS

- The economy is likely to expand in a range of 4.5 percent to 5.5 percent in 2008, slowing from better-than-expected performance of 6 percent in the first quarter, as price pressures rise, according to the National Economic and Social Development Board (BANGKOK POST)

- The oil-refining arms of the PTT Group PTT.BK have agreed to slash their diesel-refining margin by no more than 1 baht a litre (THE NATION)

- The Social Security Office and the Government Housing Bank plan to provide three billion baht for housing loans at a three-year fixed interest rate of 4.5 percent for SSO members starting next Monday, said Surin Jiravisit, the SSO secretary-general (BANGKOK POST)

- Singha Corp is spending 4 billion baht to build its latest brewery on 150 rai of land in Nakhon Pathom province (THE NATION)

- The next generation of Boeing 747 jumbo jets is not on Thai Airways International's THAI.BK shopping list as replacement aircraft for its 18 ageing 747-400 jetliners (BANGKOK POST) ** Looking for more information from local sources? Factiva.com has eight Thai sources including the Bangkok Post and The Nation. ($1=32.11 Baht)