Asean Morning News For July 3

Asean Morning News For July 3

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

ASEAN PMI falls to 50.0 in June
The Nikkei ASEAN Manufacturing Purchasing Managers’ Index, or PMI, fell to 50.0 in June from 50.5 in May.
— Nikkei Asian Review

India can be a reliable sourcing partner for ASEAN: Irani
India being the largest producer of cotton and jute and the second largest producer of man-made fibre has the potential to act as a reliable sourcing partner for ASEAN, Union Textiles Minister Smriti Irani said today.
— Economic Times

Southeast Asia poised for logistics boom
Southeast Asia’s market size and its potential for consumption cannot be ignored. By 2050, the Association of Southeast Asia Nations (ASEAN) will be similar in size to Europe, making it the fourth largest economic zone in the World, after China, India and the United States. Southeast Asian countries will become powerhouses in themselves; Indonesia is set to be the fourth largest economy in the world, while Philippines and Vietnam at 19th and 20th.
— The Investor JLL

Electrifying Emerging ASEAN through Off-Grid Distributed Renewable Energy Systems
Some 134 million people in the Association of Southeast Asian Nations (ASEAN) region do not have access to electricity. At the end of 2015, the ASEAN community declared that lack of power and energy access could threaten the region’s economic growth and its economic transition.
— BRINK

Vietnamese consumers among most demanding on e-commerce
Vietnam’s e-commerce may be one of the world’s fastest-growing markets, but the country’s customers are also among the most demanding.
— Vietnam Plus

ASEAN-Korea Center to hold youth workshop on sustainable cities
A 10-day annual youth network workshop organized by the ASEAN-Korea Centre kicks off Monday in Incheon to forge strong networks among Asian students in achieving a sustainable and clean environment in the region.
— The Korea Herald

Green cars dominate 1st ASEAN EV and Hybrid Summit
Motoring enthusiasts and automotive industry leaders have gathered in Manila for the first ASEAN Electric Vehicle and Hybrid Summit.
— Press TV

Davao pushes for holding of scheduled ASEAN meetings despite martial law
Davao City Tourism Office (CTO) head Generose Tecson urged the national organizing committee (NOC) of the Association of Southeast Asian Nations (ASEAN) to push through with the scheduled two big ASEAN meetings in the city next month despite the 60-day martial law.
— Minda News

New rules set to favour Malaysian taekwondo’s bid for gold
A new ruling on foreign entries is set to provide the boost that Malaysian taekwondo needs to maintain its record of contributing gold medals at a home SEA Games.
— The Star Online

 

Cambodia morning newsCambodia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Migrant Workers Face Thai Military Crackdown
Thousands of Cambodians are flooding back from Thailand as its military government cracks down on migrant workers based on new foreign labor laws, escalating its enforcement from just using police officers to now enlisting the military, an official said on Sunday.
— The Cambodia Daily (paywall)

Proposed rice storage facility to boost capacity
A proposal for a massive warehouse and silo that has attracted two Chinese investors aims to fill the Kingdom’s conspicuous gap in paddy rice storage capacity, which still falls 60 percent short of the level needed for the country to achieve its goal of 1 million tonnes of annual rice exports.
 The Phnom Penh Post

Cambodia Town Blooms With Many Murals
Art has the power to ignite imaginations, evoke emotions and spark creativity. Personal stories can be shared.
— Gazettes

See here for more of today’s Cambodia Morning News 

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Donald Trump’s business dealings in Indonesia unearthed
Donald Trump was running for the US presidency when he personally raised with senior Indonesian politicians the need to have a toll road completed in Indonesia to benefit a massive new resort development in which he later invested.
— ABC News

Indonesia sets tariff ranges for Uber, Grab
Indonesia has set minimum and maximum tariffs for online car-hailing services, aiming to ensure comparable pricing with conventional transport providers whose drivers have complained about being undercut by their newer competitors.
— Bangkok Post

Indonesia manufacturing PMI falls to 49.5 in June
The Nikkei Indonesia Manufacturing Purchasing Managers’ Index, or PMI, fell to 49.5 in June from 50.6 in May.
— Nikkei Asian Review

See here for more of today’s Indonesia Morning News 

 

Lao PDR morning newsLao PDR Morning News

Compiled by Cara Navarro    @cara_nav

 

Enhance assistance for crop producers, govt sectors urged
The government has instructed relevant authorities to push for stronger wet-season agriculture production while addressing challenges that hinder local people’s commercial productivity.
– Vientiane Times

Aroma Banana Farms Banned in Vientiane Province
Effective September 17, investors looking to grow aroma bananas in Vientiane province will no longer be able to obtain the necessary permit for it.
– The Laotian Times

Australia increases ODA to Laos with education, trade development focus 
Australia will increase its Official Development Assistance to Laos from AUD40.7 million in 2016-2017 to AUD42.3 million in 2017-18.
– Vientiane Times

See here for more of today’s Lao Morning News 

 

Malaysia morning news

Malaysia Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Halal Exports Growth Expected To Increase By 5 To 6pct In 2017 – HDC
The Halal Industry Development Corporation (HDC) expects the exports of halal products to grow between five per cent and six per cent this year from RM42 billion recorded last year, said chief executive officer, Datuk Seri Jamil Bidin.
— Malaysian Digest 

Malaysia’s PMI falls to record low in June
The Nikkei Malaysia Manufacturing Purchasing Managers’ Index, or PMI, dropped to 46.9 in June from 48.7 in May, recording the lowest reading in the survey’s five-year history.
— Nikkei Asian Review 

More developers being wooed by govt’s ‘green’ incentive
There has been a substantial rise in green development projects in Malaysia as more developers and investors are drawn to the government’s “green” tax incentives and cost-saving initiatives.
— Free Malaysia Today 

See here for more of today’s Malaysia Morning News 

 

Myanmar morning newsMyanmar Morning News

Compiled by Cara Navarro     @cara_nav

 

Myanmar’s PMI retreats into contraction in June
The Nikkei Myanmar Manufacturing Purchasing Managers’ Index, or PMI, showed that the country’s economy has retreated into contraction for the first time since December.
– Nikkei Asian Review

Macroeconomic risks could derail Myanmar’s bright outlook: AMRO 
THOUGH MYANMAR’S growth is expected to recover in fiscal year 2017-18 (ending March 31) to 7 per cent yearly after the economic slowdown last year, ASEAN+3 Macroeconomic Research Office (AMRO), the regional macroeconomic surveillance unit of Chiang Mai Initiative Multilateralisation, has warned of significant macroeconomic risks that could derail the nation’s favourable outlook.
– The Nation

Only high-tech firms for hydro, coal power
Only companies and countries with access to the latest technologies and technologies which minimise environmental impact will be considered to take part in hydro and coal power projects in Myanmar, a senior official from the Ministry of Electricity and Energy told The Myanmar Times.
– The Myanmar Times

See here for more of today’s Myanmar Morning News 

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Cigarettes more affordable despite ‘sin tax’ law
Bobby Falible was only 17 years old and a high school drop out doing farming jobs in Romblon when he started smoking, a habit he picked up from his friends.
— ABS-CBN

PSA: Farmers, fishermen remain poorest in PHL
Farmers and fishermen and children of low-income families are still the poorest of the country’s basic sectors, according to the latest report of the Philippine Statistics Authority (PSA).
— Business Mirror

PHL ‘more attractive’ to FDI — US report
THE PHILIPPINES has become “more attractive” to foreign direct investments (FDI), the US State Department said in a June 29 report, but nagging constraints like limits to foreign ownership, poor infrastructure, corruption and red tape must be addressed to improve competitiveness and ease the conduct of business.
— BusinessWorld Online

See here for more of today’s Philippines Morning News 

 

 

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Singapore firms band together for HSR projects
SIX Singapore companies are teaming up to participate in high-speed rail projects starting with the Kuala Lumpur-Singapore High Speed Rail (KL-SG HSR).
— The Business Times 

HDB resale flat prices declined 0.1% in Q2: Flash estimates
Resale prices of Housing & Development Board (HDB) flats declined by 0.1 per cent in the second quarter of the year compared to the previous quarter, according to flash estimates released by HDB on Monday (Jul 3).
— Channel NewsAsia 

S’pore startup launching SEA’s first cryptocurrency crowdfunding platform
A HOMEGROWN startup is betting on cryptocurrency crowdfunding as the next fintech vogue. It has created a platform to allow entrepreneurs to raise funds for their projects using virtual currencies such as Bitcoin or Ethereum, instead of regular currency.
— The Business Times 

See here for more of today’s Singapore Morning News 

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Govt to enforce Article 44 to postpone enactment of Migrant Labor Act
The government is keen to postpone the enforcement of the Migrant Labor Act for 120 days to give migrant workers time to gain legal status.
— NNT

Thailand’s PMI returns to expansion in June
The Nikkei Thailand Manufacturing Purchasing Managers’ Index, or PMI, rose to 50.4 in June from 49.7 in May.
— Nikkei Asian Review

Treasury: Observation tower will generate B47 billion 
he 4.62-billion-baht Bangkok observation tower project will draw more than a million tourists per year and generate 47 billion baht of tourism income during its 30-year project duration, said the chief of the Treasury Department which is supervising the project site.
— Bangkok Post

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Cara Navarro    @cara_nav
 

Vietnam among fastest-growing tourism destinations
Vietnam has ranked seventh on a list of the world’s Top 20 fastest-growing travel destinations, announced recently by the United Nations World Tourism Organization (UNWTO).
— Vietnam EconomicTimes

Vietinbank signs 100-million-USD syndicated loan agreement
The Vietnam Joint Stock Commercial Bank of Industry and Trade (Vietinbank) has signed a syndicated loan agreement worth 100 million USD with eight foreign financial institutions.
– VietnamPlus

CPI down for second consecutive month
The consumer price index (CPI) in June fell 0.17 per cent against May, marking the second successive monthly decline and driven by lower petroleum and foodstuff prices, the General Statistics Office (GSO) reports.
– Vietnam EconomicTimes

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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