An exiled Muslim rebel leader welcomed Thailand’s military overthrow of prime minister Thaksin Shinawatra today, saying the coup could help resolve a bloody Islamic uprising in the country’s south.

The army commander who seized Thailand’s government in a rapid, bloodless coup pledged today to hold elections by October 2007 while hinting that the ousted premier, Thaksin Shinawatra, may face prosecution for wrongdoing.

The military leader who ousted Thailand's prime minister Thaksin Shinawatra said today the coup was necessary to end mounting rifts within Thai society and Thaksin's efforts to undermine democracy.

Thailand’s stock market, banks and schools will close tomorrow following a military coup that ousted Prime Minister Thaksin Shinawatra today, the army announced.

The Thai military launched a coup against Prime Minister Thaksin Shinawatra tonight, circling his offices with tanks, seizing control of television stations and declaring a provisional authority loyal to the king.