Asean Morning News For July 26

Asean Morning News For July 26

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Asean firms win bid to supply rice to Philippines
Six companies from Southeast Asia will likely supply the 250,000 metric tons (MT) of rice as part of the planned government to private sector (G2P) importation scheme to boost the country’s dwindling buffer stock.
— The Philippine Star

Asean stocks tepid as investors look for US rate hike hints
South-east Asian stock markets marked time today ahead of a US Federal Reserve meeting later in the day as investors looked for hints on the timing of the Fed’s next policy tightening.
— Malay Mail Online

All ASEAN countries but Indonesia ban cigarette advertising
Indonesia is the only ASEAN member country that has not yet totally banned tobacco companies from advertising their products in print media, television, radio and movies, putting young people at high exposure to cigarette advertisements, the Southeast Asia Tobacco Control Alliance (SEATCA) claims.
— The Jakarta Post

Creation of Asean environment pillar pushed
NATIONAL and local environmental groups are pushing for the creation of the fourth pillar in Asean, giving focus to the environment sector for a thorough discussion on the strategies to combat the environmental destructions caused by the economic growth in the region.
— Sun Star

ASEAN creates a base in Vietnam
Rebecca Fatima Sta Maria, senior policy researcher from the Economic Research Institute for ASEAN and East Asia (ERIA), said that under the institute’s latest survey about the ASEAN investment situation, Vietnam has been considered by ASEAN as “a regional special investment destination”.
— VietNamNet Bridge

Singapore and Brunei may join sea patrols
The Trilateral Maritime Patrol (TMP) involving Malaysia, Indonesia and the Philippines may soon include Singapore and Brunei, said Datuk Seri Hishammuddin Hussein.
— The Star Online

China urges ASEAN to reject outside interference
BEIJING urged Southeast Asian nations on Tuesday to unite and “say no” to outside forces seeking to interfere in the South China Sea dispute, in an apparent swipe at the United States ahead of a regional summit.
— BusinessWorld Online

Artworks of four Bruneians in Seoul showcase
ARTWORKS by four young artists from Brunei Darussalam will be among those featured at an international art exhibition organised in Seoul, South Korea, starting today.
— Borneo Bulletin Online

ASEAN integration opens opportunity for traders, entreps to hitch into value chain
Local traders and manufacturers would have to exert extra efforts to get hitched into the value chain, or stiffer competitions with the free flow of imported goods which would make competition triply tougher.
— Philippine Information Agency

How to Set Up in the Philippines – New Issue of ASEAN Briefing Magazine
Within ASEAN, the Philippines has proved to be the least vulnerable country to external economic shocks. Sound macroeconomic fundamentals, a steady economic growth rate, and a steadfast commitment to good governance by successive governments in the last decade offer foreign investors a stable base to consolidate their ASEAN operations.
— Asean Briefing

 

Cambodia morning newsCambodia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

IMF urges boost to tax system
Cambodia’s economy continues to perform strongly, but the government will face rising spending pressures that need to be tackled by enhanced revenue collection through more stringent tax measures to contain near-term deficits, the International Monetary Fund (IMF) said yesterday at the conclusion of its annual Article IV consultation
The Phnom Penh Post

Garment Factories Aiming to Kick Taxes on Footwear to US
Cambodia’s garment factories are hoping to partner with the Commerce Ministry in asking the U.S. to grant the country’s burgeoning footwear exports duty-free access should the U.S. decide to make the option available.
The Cambodia Daily (paywall)

Project Aims to Send Children in Orphanages Home
Though they live in orphanages, an estimated 13,000 children in facilities across Cambodia have at least one living parent. As part of a sea change in government policy in a country with a checkered history with orphanages, officials in Battambang province on Tuesday kicked off a pilot program that aims to return children to their families.
The Cambodia Daily (paywall)

See here for more of today’s Cambodia Morning News 

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

World Bank: Indonesia needs $500 bln in 5 yrs to plug infrastructure gap
World Bank Group President Jim Yong Kim said on Tuesday that Indonesia needs to nearly double its public spending on infrastructure and bring in more private investment to fill an infrastructure gap of $500 billion in the next five years.
— Reuters

Government debts reach Rp3,706 trillion as of June 2017
The Indonesian governments debts have reached Rp3,706.52 trillion as of June 2017, most of which has come from loans used to meet the target of economic and development growth in various sector, according to the Finance Ministry.
— Antara

New Regulation will Allow Tax Office to Access Indonesian Bank Accounts
The House of Representatives (DPR) will on Thursday (27/7) ratify a special government regulation, legalizing the access to information relevant to the accounts of banking customers in Indonesia, ending bank secrecy in the country.
— Global Indonesian Voices

See here for more of today’s Indonesia Morning News 

 

Lao PDR morning newsLao PDR Morning News

Compiled by Cara Navarro    @cara_nav

 

Import and Export Procedures in Laos – Best Practices
Officially the Lao Peoples’ Democratic Republic (Lao PDR), landlocked Laos borders China, Cambodia, Myanmar, Thailand, and Vietnam.
Asean Briefing

Government introduces customs, tax, fee e-payments
The Lao government is upgrading payment methods for customs, tax, and other fees at the international customs checkpoint nationwide.
Vientiane Times

Nation’s renewable energy options explored with assistance from China
Laos must increase understanding of the rapid development and expanding use of renewable energies and the revolution in energy production and distribution especially for technical officials responsible for the field.
Vientiane Times

See here for more of today’s Lao Morning News 

 

Malaysia morning newsMalaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Foreign investors are cashing in on an emerging market with a booming currency
Things are looking up for Malaysia, with more foreign investors cashing in on the country’s improving economy and strengthening currency, market participants told CNBC on Tuesday.
CNBC 

Petronas halts US$28.8 billion Canadian LNG project
Petronas will not proceed with a proposed US$28.8 billion (RM123.3 billion) liquefied natural gas (LNG) project in western Canada because of weak global prices, the company said on Tuesday.
Free Malaysia Today 

Public Bank achieves pre-tax profit of RM3.37 billion for 1H17
For the first half of the year ended June 30, 2017 (1H17), the Public Bank Group’s pre-tax profit increased to RM3.37 billion, up 5.1 per cent from the corresponding period in 2016.
The Borneo Post 

See here for more of today’s Malaysia Morning News 

 

Myanmar morning newsMyanmar Morning News

Compiled by Cara Navarro     @cara_nav

 

Why the Myanmar economy is slowing, and how it could bounce back
Economic growth in Myanmar has slowed and the country’s fiscal and current account deficits have swelled over the past 2 years under the National League for Democracy government.
The Myanmar Times

Limited links sink Myanmar’s potential
Long viewed as Southeast Asia’s ‘connectivity’ laggard, is the underdeveloped nation poised to allow more foreign-built ports, roads and rails?
Asia Times

Transport authorities to open tender for train carriages, signal system
Myanmar will call a tender to buy a signal system and new carriages with an incoming loan from Japan for the upgrade of the Yangon circular railway system, according to a senior official from Myanma Railways.
Eleven Myanmar

See here for more of today’s Myanmar Morning News 

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Philippines buys 250,000 tons of rice to boost stockpiles
THE NATIONAL FOOD AUTHORITY (NFA) purchased 250,000 metric tons (MT) of rice in a tender yesterday from suppliers in Vietnam, Thailand and Singapore, as it rushed to boost thinning state stockpiles.
— BusinessWorld Online

PH gov’t told to pay Maynilad over P3B for delayed tariff hike
The Philippine government will have to pay Maynilad Water Services Incorporated a total of P3.42 billion for losses incurred from delayed tariff adjustments, an arbitral tribunal ordered.
— Rappler

Duterte demands US return symbolic church bells
Philippine President Rodrigo Duterte has demanded the United States return church bells seized by American forces in a bloody campaign more than a century ago, in another blast at his country’s traditional ally.
— The News International

See here for more of today’s Philippines Morning News 

 

 

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Singapore’s Grab Draws $2.5 Billion to Bolster Ride-Hailing, Payments Services
Southeast Asia’s ride-hailing sector is shaping up to be a massive proxy fight between some of the largest tech companies operating in the region.
eMarketer 

Singapore PM warns against threat of extremism
Conflicts in other parts of the world must not affect the racial and religious harmony in Singapore, the city state’s Prime Minister Lee Hsien Loong has said.
ucanews 

Artificial intelligence could double Singapore’s growth rate
It found that artificial intelligence (AI), once fully adopted, might lift Singapore’s annual growth rate to 5.4 per cent in 18 years.
Business Standard 

See here for more of today’s Singapore Morning News 

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Baht’s sharp rise on BoT radar
The Bank of Thailand has acknowledged the baht’s rapid climb against the US dollar recently, a movement that it says warrants close monitoring.
— Bangkok Post

Govt plans Bt2,750 welfare per month for low-income citizens
THE GOVERNMENT plans to offer a state welfare payments of Bt2,750 a month to low-income people.
— The Nation

Yingluck hits out at military-installed government
Ex-premier Yingluck Shinawatra today (July 25) lashed out at the military-installed government for what she claimed was an attempt to influence a verdict on the rice-pledging scheme case on the August 25 judgement day.
— Thai PBS

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Cara Navarro    @cara_nav 

Southern Power Corporation develops key electricity projects
The Southern Power Corporation under the Electricity of Vietnam Group (EVNSPC) is planning to build 53 more 110 kV power projects in southern provinces and cities, bringing the total number of works in 2017 to 79.
VietnamPlus

Foreign investors pouring more money into petrol market
The Vietnamese petroleum market is attracting more foreign investors.
VietnamNet Bridge

Manufacturing, processing industry lures FDI
Vietnam’s manufacturing and processing industry attracted 12,075 foreign-invested projects with a total registered capital of 180.68 billion USD as of late June, according to the Ministry of Planning and Investment (MPI)’s Overseas Investment Agency.
VietnamPlus

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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