Asean Morning News For July 12

Asean Morning News For July 12
Estimated Reading Time: 9 minutes |

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

India-China ties have direct implication for Asean: Jaishankar
Amid the current standoff between India and China along the Sikkim sector of the international border, Indian Foreign Secretary S. Jaishankar said on Tuesday that ties between New Delhi and Beijing have a direct implication on the relationship with the south-east Asian nations.
— Millennium Post

ASEAN advised to harmonize process for starting business
THE Association of Southeast Asian Nations (ASEAN) should seek to harmonize the process of setting up businesses to attract more foreign investment, a business advisory body to the regional bloc said.
— BusinessWorld Online

Asean markets largely flat ahead of Yellen testimony
SINGAPORE: Most Southeast Asian stock markets moved sideways on Tuesday in thin trade as investors remained cautious ahead of U.S. Federal Reserve Chair Janet Yellen’s monetary policy testimony, which may offer clues on when the Fed would tighten its monetary policy.
— The Star Online

Asean-BAC proposes establishment of Asean Youth Council
The Asean Business Advisory Council (Asean-BAC) Malaysia has called for the setting up of an Asean Youth Council (AYC) to help shape the future of the region.
— New Straits Times

‘Banks unable to price intellectual property’
The Asean Bank Integration Framework (Abif) must push local commercial banks to direct more heft on sound business ideas of small and medium enterprises (SMEs) than on collateral, an economist from the University of the Philippines Diliman said.
— Business Mirror

Slash rice tariffs to cut poverty in Asean–OECD
The Philippines and other Asean countries would be able to cut poverty faster if they would cut tariffs on rice and eliminate trade barriers, according to the latest study released by the Organisation for Economic Co-operation and Development (OECD).
— Business Mirror

Universal Basic Income Could Work In Southeast Asia — But Only If It Goes To Women
The universal basic income debate has been raging for some years, with politicians and people hotly divided over the notion of their government paying every citizen a set amount of money on a regular basis, without requiring work to be completed.
— HuffPost

Singapore Expands Fintech Reach
Bangkok has been emerging as the fintech entrepot into the large ASEAN marketplace and Thai banks have also been quickly expanding their financial technology focus.
— Finews Asia

Call for Asean to become more dynamic and realistic
Asean Business Advisory Council (Asean-Bac) Malaysia has called upon Asean to become more dynamic and realistic in the ever-changing global environment.
— The Star Online

 

Cambodia morning newsCambodia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

China’s appetite driving rice export growth as demand continues to outstrip supply
Cambodian rice exports increased marginally during the first half of the year as export companies push to fulfil higher quotas destined for China.
The Phnom Penh Post 

Industry Experts Say Ecotourism Has Potential to Expand
As tourists’ itineraries veer toward nature resorts and jungle trekking, companies and conservationists are considering how they can define, develop and expand ecotourism and coastal tourism in Cambodia.
The Cambodia Daily (paywall)

Cambodia PM Hun Sen’s absence prompts questions
Cambodian Prime Minister Hun Sen has cancelled his attendance at official events and remained out of the country for days, prompting speculation he is receiving medical treatment in Singapore.
The Sydney Morning Herald 

See here for more of today’s Cambodia Morning News 

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Indonesia to bring home tax money parked in Singapore
The government is to hunt down tax money from Indonesians who park their money in Singapore, following an offer from Singapore to allow Indonesia to access the financial data of Indonesians in the neighboring country.
— The Jakarta Post

Jokowi signs regulation banning Hizbut Tahrir
President Joko “Jokowi” Widodo has signed a regulation in lieu of law (Perppu) to ban Hizbut Tahrir Indonesia (HTI), an Islamic organization seeking to establish a global Islamic caliphate.
— The Jakarta Post

Govt seeks Rp 467.3t deficit increase for infrastructure development
The government is seeking to increase the budget deficit by Rp 467.3 trillion (US$34.91 billion) for development financing this year, as shown in the draft of the 2017 Revised State Budget under discussion by government officials and the House of Representatives.
— The Jakarta Post

See here for more of today’s Indonesia Morning News 

 

Lao PDR morning newsLao PDR Morning News

Compiled by Cara Navarro    @cara_nav

 

Govt to pursue 7 percent economic growth in 2018
The government expects to pursue economic growth to at least seven percent in 2018, the same level expected for 2017, according to the Ministry of Finance.
Vientiane Times

Customs Department tightens checks on oil tanker trucks heading to Laos
The Customs Department has ordered more stringent examinations of oil tanker trucks at the Thai-Lao border after an operator was found attempting to export diesel to Laos instead of benzene as declared.
NBT World (video)

Lao Airlines shares for sale?
Lao government says it is ready to recruit new stakeholders for Lao Airlines as part of its efforts to overhaul state-owned enterprises.
TTR Weekly

See here for more of today’s Lao Morning News 

 

Malaysia morning news

Malaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Malaysian banks must change to stay competitive
Malaysian banks must constantly evolve and make necessary changes to stay competitive as more foreign banks make their way into the country, says Deputy Finance Minister Datuk Othman Aziz.
Astro Awani Network 

Affin Hwang Research retains Buy for Petra Energy
Affin Hwang Capital Research retains its Buy for Petra Energy with a lower sum-of-parts derived 12-month target price of RM1.55 from RM1.66 as it trims its 2018-19E earnings after tweaking some balance sheet items.
The Star Online 

WeChat Pay seeks licence for local payment services in Malaysia
Tencent Holdings Ltd has applied for a licence in Malaysia to offer local payment services via its WeChat Pay, in what would be a first for the platform beyond mainland China and Hong Kong, the director of WeChat Pay’s global operation told Reuters.
The News 

See here for more of today’s Malaysia Morning News 

 

Myanmar morning newsMyanmar Morning News

Compiled by Cara Navarro     @cara_nav

 

Trade on the rise, more FDI needed: UMFCCI VP
U Ye Min Aung, vice president of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, told the Global New Light of Myanmar his views on Myanmar’s economy in an exclusive interview.
Global New Light of Myanmar

Myanmar encourages foreign investment
Myanmar’s government has made a strong pitch to foreign investors to commit to its ports at the 15th ASEAN Ports and Shipping conference.
Port Strategy

Foreign banks to be allowed retail banking service in Myanmar
Foreign banks are soon to be allowed to run retail banking service in Myanmar as part of relaxation measures by the Central Bank, U Set Aung, the bank’s deputy governor told the parliament late Monday.
Xinhua

See here for more of today’s Myanmar Morning News 

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

PH has 2nd lowest obesity rate in Asean
The Asia Roundtable on Food Innovation for Improved Nutrition (ARoFIIN) on Tuesday reported that the Philippines has the second lowest obesity and overweight prevalence compared to its regional neighbors in the Association of Southeast Asian Nations (Asean).
— The Manila Times

Philippines military: Death toll in Marawi tops 500
The death toll in a protracted battle between fighters from to a group linked to the Islamic State of Iraq and the Levant (ISIL, also known as ISIS) group and government troops in the southern Philippine city of Marawi has topped 500, the military said.
— AlJazeera

China ‘ready’ for war if PH pushes arbitration win: retired general
China is ready to wage war if the Philippines insists on its arbitral win that rejected the basis of Beijing’s sweeping claims over the South China Sea, a former military intelligence chief warned Tuesday.
— ABS-CBN

See here for more of today’s Philippines Morning News 

 

 

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Temasek Holdings announces record net portfolio value of S$275b
Temasek Holdings announced on Tuesday (Jul 11) a record net portfolio value of S$275 billion (US$197 billion) as at end-March 2017, up from S$242 billion (US$180 billion) a year ago.
Channel NewsAsia 

Singapore, UK, New Zealand, and UAE among World’s Stand Out Digital Economies
The Fletcher School and Mastercard unveil the Digital Evolution Index 2017, an in-depth look at technology adoption and the state of digital trust around the world
Business Wire 

Qoo10 Singapore, Nanyang Polytechnic help SMEs to go digital
GIOSIS Pte Ltd (Qoo10 Singapore) and Nanyang Polytechnic’s (NYP) Singapore Institute of Retail Studies (SIRS) on July 11 signed a Memorandum of Understanding (MoU) that will see SMEs getting a digital boost to fully maximise opportunities in today’s online marketplace.
Digital News Asia 

See here for more of today’s Singapore Morning News 

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

hailand approves S$7.2b for delayed China rail project
Thailand’s military government on Tuesday (July 11) approved 179 billion baht (S$7.2 billion) to build the first stretch of a high-speed railway that will ultimately link Bangkok to southern China, a massive joint infrastructure project with Beijing that has been dogged by delays.
— The Straits Times

GOVT APPROVES 8.8 BILLION BAHT COMBAT JET DEAL
The military government Tuesday greenlit a plan to buy eight combat aircrafts from South Korea at the price of 8.8 billion baht for training purposes.
— Khaosod English

Thai, Singapore central banks ink fintech cooperation agreement, update MoU on banking supervision
The Bank of Thailand and the Monetary Authority of Singapore on Tuesday signed a FinTech Cooperation Agreement and updated a Memorandum of Understanding on Banking Supervision, according to their joint statement.
— The Nation

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Cara Navarro    @cara_nav
 

Inflation down sharply in Q2
Inflation fell sharply in the second quarter of 2017, in contrast with the ongoing trend since the end of 2015, the Vietnam Center for Economic and Policy Research (VEPR) wrote in a report released on July 10.
Vietnam EconomicTimes

Surprise inspections should increase in second half of 2017
Deputy Prime Minister Trương Hòa Bình requested that unexpected inspections should increase whilst administrative inspections should target areas with high risk of corruption in the rest of the year.
Viet Nam News

Domestic brands gain better recognition internationally
The appearance of 11 Vietnamese brands in the list of Asia’s top 1,000 this year has demonstrated domestic firms’ increasing awareness about building and affirming their own brands.
VietnamNet Bridge

See here for more of today’s Vietnam Morning News 

Asean Morning News is the most comprehensive selection of reports on what you need to know from around the Asean Economic Community (AEC) published. All articles are hand curated by the team at AEC News Today. It is published M-F by AEC News Today: Governance, not government; policies not politics.

 

 

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