Asean Morning News For May 9

The most comprehensive #Asean Morning News Roundup published

Asean Morning News For May 9
Estimated Reading Time: 11 minutes |

Asean morning newsAsean Morning News

Compiled by AEC News Today    @aecnewstoday

 

Mobility of goods, capital, and people in Asia
One big issue that failed to land on front pages during the ASEAN Prosperity Summit last week is the creeping protectionism, not through rising tariffs but rising non-tariff barriers (NTBs).
– BusinessWorld

IMF warns Asia to act early on rapidly-aging population
Asia has enjoyed substantial demographic dividends, but the growing number of elderly is set to create a ‘tax’ on growth.
– VnExpress

Emerging virus threatens tilapia farms in Asian-Pacific region
The Network of Aquaculture Centres in Asia-Pacific (NACA) warns that tilapia lake virus (TiLV), a virus identified as Orthomyxo-like (RNA), has become a threat for farmed tilapia producers in the Asian-Pacific region.
– FIS

Asia-Pacific Countries with Special Needs Development Report 2017
The Asia-Pacific Countries with Special Needs Development Report 2017 highlights the importance of physical infrastructure to the development of the Asia-Pacific least developed countries, landlocked developing countries and small island developing States, collectively referred to as countries with special needs.
– UN-ESCAP (Report)

China’s Huge Dam Projects Choking the Mekong River
A river is born high in the Tibetan Plateau, before snaking its way 3,000 miles south and emptying itself into the South China Sea. On its journey, it passes through six countries, sustaining their ecosystems and local economies, its fisheries providing a lifeline for 60 million people in its lower basin.
– Chiang Rai Times

Call for Asean to work on dispute resolution
Asean needs to develop a more comprehensive way to resolve disputes, said senior Singapore diplomat and former Asean chief Ong Keng Yong.
— The Straits Times

Cambodia Joins Asean Infrastructure Initiative
Cambodia has signed on to a new World Economic Forum-backed initiative that aims to fund infrastructure projects in developing countries, the organization’s Asia-Pacific regional head said on Monday during a news conference at the Public Works and Transport Ministry.
— The Cambodia Daily (paywall)

Asean Minus X formula to fast-track RCEP–PHL
The Philippines has asked fellow negotiating countries in the Regional Comprehensive Economic Partnership (RCEP) to consider the use of “opt out and reciprocity” flexibilities to speed up the conclusion of the negotiations for the trade agreement.
— Business Mirror

ASEAN automotive aftermarket anticipated to be valued at US$ 19,334.0 Mn by 2016
Future market insights delivers key insights on the ASEAN automotive aftermarket in its report titled ‘ASEAN Automotive Aftermarket: Global Industry Analysis and Opportunity Assessment, 2016-2026’. The long term outlook on the ASEAN automotive aftermarket remains positive, with market value expected to increase at a CAGR of 9.6% over the forecast period (2016-2026).
— Future Market Insights (press release)

Job Insecurity Rises in ASEAN Despite Economic Recovery
An FTCR survey in the first quarter of 2017 suggests job insecurity has risen in Asean, despite economic recovery in some regions.
— Netral English

Southeast Asian e-commerce firm Garena raises US$550m, rebrands as Sea
Southeast Asia-focused e-commerce startup Garena Interactive Holding Ltd renamed itself Sea Ltd on Monday (May 8) and said it had raised US$550 million to expand in key markets such as Indonesia.
— Channel NewsAsia

ASEAN, China urged to complete West Philippine Sea code of conduct framework
The Association of Southeast Asian Nations (ASEAN) member states and China are urged to complete the code of conduct framework for behavior in the disputed West Philippine Sea/South China Sea at the soonest possible time to help deal with uncertainties in the region.
— Philippine News Agency

RCEP participating countries urged to speed up discussions on trade liberalization
The 10 member states of ASEAN and its six dialogue partners are urged to speed up discussion on trade liberalization in order to conclude the text for the Regional Comprehensive Economic Partnership (RCEP) this year.
— Philippine News Agency

 

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Cambodia morning newsCambodia Morning News

Compiled by John Le Fevre    @photo_journ

 

Surge in illegal log export from Cambodia, says report
Illegal exports of timber from Cambodia to Vietnam surged in recent months despite an export ban aimed at countering rapid deforestation in one South-East Asia’s poorest countries, an environmentalist group said in a report.
– The Star Online

Data back up logging report
Newly released Vietnamese customs data yesterday added further weight to reports that Vietnamese-backed illegal logging in Cambodia’s Ratanakkiri province surged during the dry season after provincial authorities in Vietnam’s Gia Lai province approved a mass importation of timber.
– The Phnom Penh Post

Cambodia dismisses claims of illicit sand exports despite ban
The country’s Ministry of Mines and Energy banned sand exports in November 2016 after public outrage over large inconsistencies on the recorded amount of sand exported to Singapore, but an NGO said exports are still continuing.
– Eco-Business

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Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Indonesia Wants Global War on Illegal Fishing
The Southeast Asian state wants illegal fishing to be declared a transnational crime.
— The Diplomat

Coal miners owe the Indonesian government hundreds of millions of dollars
Activists argue the sector’s actual economic contributions are not enough to balance out the social and environmental problems caused by coal mining.
— Mongabay.com

New-cars Sales in Indonesia Rise Past 100,000 Units for the 1st Time in 4 Months
New-car sales in Southeast Asia’s six major countries climbed by a combined 14% in March from a year earlier to 316,736 vehicles, the fifth straight monthly gain and returning sales for the month to a level not seen in four years.
— Netral English

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Lao PDR morning newsLao PDR Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Laos, IRRI agreement to boost food security
The government and the International Rice Research Institute (IRRI) have agreed to strengthen their partnership in research and expand the institute’s role in increasing Laos’ food and nutrition security.
— Vientiane Times

Nam Ngum 1 Upgrades Underway
The Lao government has borrowed money from the Chinese Government to upgrade the capacity of the Nam Ngum 1 hydropower dam by installing two additional turbines.
– Lao News Agency

Increased Private Investment Boosts Lao Economy
The government has approved a total of US$1.11 billion in domestic and foreign private investments during the first quarter of this year.
— j&C

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Malaysia morning news

Malaysia Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

IMF: Malaysia’s 2017 economic growth seen at 4.5%
The International Monetary Fund (IMF) expects Malaysia’s economy to grow 4.5% in 2017 from a year earlier before expanding 4.7% in 2018 on domestic demand growth and as exports improve.
— The Edge Markets MY

MK Land’s Unit To Dispose Of Land In Kamunting For RM72 Million
MK Land Holdings Bhd’s (MK Land) wholly-owned unit, Dominant Star Sdn Bhd (DSSB), will dispose of nine parcels of leasehold land measuring approximately 79.25 hectares in Kamunting, Perak for RM72 million.
— Bernama

Parliament must restore judicial power to courts, says Malaysian Bar
In applauding a Federal Court ruling that Parliament cannot undermine the doctrine of separation of powers, the Bar says the Judiciary must check and balance any excesses of the executive or legislature.
— Free Malaysia Today

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Myanmar morning newsMyanmar Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Activists Protest Daw Aung San Suu Kyi’s London ‘Freedom’ Award
Activists and refugees demonstrated as State Counselor Daw Aung San Suu Kyi was presented with the Freedom of the City of London award on Monday, calling the recognition “disappointing” in light of ongoing abuses against ethnic and religious minorities, journalists and rights activists in Burma.
— The Irrawaddy

Titan Petrochemicals getting into Myanmar
Titan Petrochemicals is getting into the Myanmar market, co-investing with a China state-owned company.
— Seatrade Maritime News

CITIC eyes strategic Myanmar port
A Chinese consortium aims to take a stake of up to 85 percent in a strategically important sea port in Myanmar, according to documents reviewed by Reuters, which could heighten tensions over China’s growing economic clout in the country.
— Global Times

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Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Gov’t to continue allowing private sector to import rice under new rules
The government will continue allowing the private sector to import rice but the Department of Agriculture has to craft regulations to ensure there is no flooding of imported rice and put up a protective mechanism for local rice farmers.
— Manila Bulletin

Southeast Asian e-commerce firm Garena raises US$550m, rebrands as Sea
Southeast Asia-focused e-commerce startup Garena Interactive Holding Ltd renamed itself Sea Ltd on Monday (May 8) and said it had raised US$550 million to expand in key markets such as Indonesia.
— Channel NewsAsia

Auto sales rise 4.8% in April
AUTO SALES rose modestly year on year in April, and retreated from their month-earlier totals, car and truck manufacturers said in a statement Monday.
— BusinessWorld Online

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Singapore morning newsSingapore Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Southeast Asian e-commerce firm Garena raises US$550m, rebrands as Sea
Southeast Asia-focused e-commerce startup Garena Interactive Holding Ltd renamed itself Sea Ltd on Monday (May 8) and said it had raised US$550 million to expand in key markets such as Indonesia.
— Channel NewsAsia

Singapore to enforce death penalty for nuclear terrorism acts
A person who commits a fatal act of terrorism using radioactive material or nuclear explosive devices will face the mandatory death penalty under new laws passed in Parliament on Monday (May 8).
— Channel NewsAsia

Singapore logistics platform Anchanto raises funding from Luxasia, Transcosmos
Anchanto, a Singapore-based e-commerce logistics and selling platform, has raised a Series B+ funding round from Luxasia Group (Luxasia), an Asian omnichannel retailer, and Transcosmos Inc. Japan (TCI), a TSE-listed global end-to-end e-commerce enabler.
— Deal Street Asia

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Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Govt lures major Chinese investment to new EEC
DEPUTY Prime Minister Somkid Jatusripitak said yesterday that the government plans to connect its new Eastern Economic Corridor (EEC) development project with the Chinese government’s One Belt, One Road initiative.
– The Nation

Thailand targets broadband in all villages by end-2018
Thailand’s government, understanding the power of the digital economy to spur innovation and reduce the gap between the rich and poor, is looking longer term and committed to providing broadband access to even the most remote parts of the country.
– Mobile World Live

KBank eyes slower SME loan growth
Kasikornbank (KBank) expects its small and medium-sized enterprise (SME) loans this year to grow at a slower pace than last year’s 4-6% because of thin loan demand amid an uneven economic recovery, recovery, says a senior official.
– Bangkok Post

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Vietnam morning newsVietnam Morning News

Compiled by John Le Fevre    @photo_journ

 

PetroVietnam-invested projects incurred huge losses under Dinh La Thang
Many projects invested by PetroVietnam, the national oil & gas group, have been found taking huge losses. The common characteristic is that they were invested in when Dinh La Thang was on the post of chair of the board of directors.
– VietNamNet Bridge

Moody’s: Capital shortfall for banks remains key burden
Moody’s Investors Service on Monday said Viet Nam banks will face capital shortfall over the next 12-18 months and such a situation continues to represent a key credit burden for the industry.
– Viet Nam News bizhub

Vietnamese start-up receives $1million fund from Singapore investor
Viet Nam International Group (VNI Group) has received a US$1 million fund from a Singapore-based investment fund World Gold Investments PTE. LTD (World Gold).
– Viet Nam News bizhub

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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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