Asean morning news for August 31

Asean morning news for August 31

Asean morning newsAsean morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

 

Trade risks loom over Asean FDI in-flow, but the US and Japan likely to stay top investors for now: HSBC economists
The United States and Japan are still the main investors in top South-east Asian industries, while China is eyeing smaller markets and niche sectors, HSBC’s Asean economics team has said.
— The Business Times

Cybercrime surges above $120-bn in Southeast Asia
THE RAPID growth of Bitcoin-related scams and other cybercrimes has prompted the United Nations to urge member countries, including Thailand, to step up their legal safeguards against potential economic losses.
— The Nation

RCEP talks gain urgency amid rising protectionist sentiments
Talks between the Association of Southeast Asian Nations (ASEAN) and its regional trade partners are gaining urgency, as they strive to conclude a far-reaching, 16-member trade pact.
— Channel NewsAsia (video)

Health care, mobility to take center stage in ASEAN region: experts
Southeast Asia is expected to see greater demand for health care services, for services that increase the mobility of its populations, and for entertainment, experts said Wednesday, attributing these trends to the rise of the middle class in the region and to its relatively young populations.
— The Nation

Minimum Wage Levels Across ASEAN
Minimum wage rates across ASEAN are rising gradually to match the region’s increased cost of living and boost domestic demand.
— Asean Briefing

ASEAN to become world’s fourth largest economy by 2030: Singapore PM Lee
The region is home to four of the world’s fastest-growing economies, including Singapore.
— Singapore Business Review

Asean ministers ink trade, services deals
Local businesses are in line for greater investment opportunities in Asean after the Asean Economic Ministers (AEM) on Wednesday signed two agreements to remove barriers to goods and services trade within the bloc.
— Bangkok Post

Asean ICT master plan in the works
The government is developing an ICT master plan for Asean connectivity to implement practical guidelines for digital collaboration across Asean countries.
— Bangkok Post

Center for Southeast Asian Studies receives federal funding
The U.S. Department of Education has awarded NIU’s Center for Southeast Asian Studies (CSEAS) nearly $2.5 million over the next four years to continue promoting the study and research of Southeast Asian languages and countries.
— NIU Today

Construction in ASEAN Region to Grow by Over 6% Annually Through 2022
In a recent White Paper prepared by data and analytics company GlobalData for INTERMAT ASEAN 2018 and Concrete Asia 2018, the region’s trade shows for construction, infrastructure and concrete sectors to be held in Bangkok on September 6-8, 2018, it was revealed that construction output in the member states of the Association of South-East Asian Nations (ASEAN) would expand by over 6% yearly on average during 2018–2022.
— ForConstructionPros.com

Analysis: South Korea’s gasoline exports to Southeast Asia under threat
Asia’s healthy light and middle distillate cracks may not translate into stronger oil product exports for South Korea, as the start-up of Vietnam’s new refinery complex and Indonesia’s growing efforts to cut energy import bills could hamper Seoul’s gasoline sales to Southeast Asia going forward.
— S&P Global Platts

China to enhance cooperation with ASEAN on drug control
China will devote, in a more active role, into the ASEAN and China Cooperative Operations in Response to Dangerous Drugs (ACCORD) mechanism, and continue to reinforce the intelligence exchange and law enforcement cooperation with ASEAN countries, said a senior Chinese narcotics control official here on Thursday.
— Xinhua

ASEAN Committee Ratifies Support for Reunification of Korea
The Association of Southeast Asian Nations (ASEAN) ratified on Thursday its support and solidarity for the reunification of Korea.
— Prensa Latina

ASEAN seeks more SME partnerships with Japan: Singapore
The 10-member Association of Southeast Asian Nations is seeking more partnerships between small and medium-sized enterprises in ASEAN countries and Japan, the Singapore trade minister said at a regional meeting on Thursday.
— Kyodo News

Asean resolute in pursuing stronger economic ties with China, Japan, South Korea: Chan Chun Sing
Asean remains resolute in pursuing stronger economic cooperation with China, Japan and South Korea in the face of growing tensions in the global economy, Singapore’s Trade and Industry Minister Chan Chun Sing said on Thursday (Aug 30).
— The Straits Times

Cambodia morning newsCambodia morning news

Compiled by Michael Johansen @mfjohansen47

 

Cambodia Hits Landmark Growth of Air-transportation in First Half of the Year
All three of Cambodia’s airports (Phnom Penh International Airport, Siem Reap International Airport, and Preah Sihanouk International Airport) saw a surge in number of passengers and cargo in the first half of 2018, according to a record of the Cambodia Airports.
Agence Kampuchea Presse

Firm puts down $531M for capital plot
Chean Chhoeng Thai Group Co Ltd, a sister firm to China’s Yuetai Group has announced a more than $500 million investment to develop a parcel of land along Phnom Penh’s riverside, indicates approval documents from the Council for the Development of Cambodia (CDC).
Phnom Penh Post

Recall launched on tainted baby formula
The Cambodian government has ordered an immediate recall of infant milk powder Dumex Mamil Gold after reports emerged in Singapore that the product contained traces of bacteria that was harmful to babies.
Phnom Penh Post

See here for more of today’s Cambodia morning news

 

Indonesia morning newsIndonesia morning news

Compiled by Michael Johansen @mfjohansen47

 

Gold sales soar as rupiah depreciates
State-owned mining company PT Aneka Tambang (Antam) has said its gold sales jumped significantly in the first half of 2018 as a result of the weakening rupiah.
The Jakarta Post

Indonesia’s push to nationalize energy assets could chill foreign investment
Indonesia is pushing to nationalize more of its oil and gas assets as it tries to reduce imports and boost government revenue amid emerging market turbulence that has staggered Southeast Asia’s biggest economy.
Business World

‘This is Indonesia’: Asian Games race-walker collapses after 50km of heat, smog
Indonesia’s Hendro said it was a “miracle” to even finish the 50km race walk in Jakarta’s brutal pollution, heat and humidity on Thursday (Aug 30) after he was carried from the finish line on a stretcher.
Channel NewsAsia

See here for more of today’s Indonesia morning news

 

Lao PDR morning newsLao PDR morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

 

Flooding Kills at Least Six People in Laos’ Luang Prabang Province
Flooding from heavy rainfall has killed at least six people in northern Laos’ Luang Prabang province since the weekend, an official from the provincial Labor and Social Welfare Department said Thursday, as the Southeast Asian is battered by seasonal monsoons.
— Radio Free Asia

Laos’ power import falls slightly in six months
The Lao Ministry of Energy and Mines (MEM) said the country’s electricity imports from Thailand, China and Vietnam fell by 2 percent year-on-year in the first half of 2018.
— Vietnam Plus

Worries about food supplies after the floods
Natural disasters pose a threat to people in many parts of Laos and authorities are scrambling to carry our relief and repair operations in provinces that have been affected by floods.
— Vientiane Times

See here for more of today’s Lao morning news

Malaysia morning newsMalaysia morning news

Compiled by Sreypov Men @MenSreypov

 

Malaysia’s Taxman Is Back Knocking For A Share In Sales And Services
Malaysia will re-impose a tax of between five per cent and ten per cent on the sale of goods, while services will attract a six per cent levy when a new tax regime comes into effect on September 1.
— Investvine

Petronas sees profit after tax reach RM26.6 billion for 1H
Petroliam Nasional Bhd (Petronas) yesterday announced improved earnings for the first half of 2018, driven by the Group’s execution of its continuous business improvement initiatives coupled with increased commodity prices.
— The Borneo Post

Malaysia’s Maybank posts 18% rise in Q2 profit
Malayan Banking (Maybank), Malaysia’s largest lender by assets, posted an 18 per cent jump in second-quarter profit on Thursday (Aug 30) as reductions in expenses and loan provisioning boosted performance.
— Channel NewsAsia

See here for more of today’s Malaysia Morning News

 

Myanmar morning newsMyanmar morning news

Compiled by Joanne Encantador @encantador_jo

 

Suu Kyi should have ‘resigned’ over Myanmar crackdown: UN rights chief
Nobel Laureate Aung San Suu Kyi should have resigned as Myanmar’s de facto leader over last year’s brutal army campaign against the Rohingya, the outgoing UN human rights chief has told the BBC.
— Channel NewsAsia

Organic Poultry Farm Makes Waves in Yangon
The farm, founded in 2017 by friends Zaw Ye Naung and Marn Thu Shein, is certified by the Myanmar Organic Agriculture Group (MOAG).
— The Irrawaddy

Myanmar migrant worker accuses Thai employer of mistreatment
A Myanmar man who was working at a car accessories factory in Lopburi province of Thailand was allegedly locked in a cage for more than five hours for demanding that fans be installed in the workplace, a Thai-based migrant rights advocate said Wednesday.
— Myanmar Times

See here for more of today’s Myanmar morning news

 

Philippines morning newsPhilippines morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

 

Fed shift to cost up to P253B: On first year of implementation
The shift to a federal constitution will result in an estimated incremental cost of P156.6 billion to P253 billion, and will put pressure on the budget deficit, data from the National Economic and Development Authority (NEDA) showed.
— Malaya

Senate OKs ₱6.7-B 2019 budget for Office of the President
The Senate approved Thursday the 2019 budget for the Office of the President (OP) amounting ₱6.77 billion.
— CNN Philippines

10 infrastructure projects worth P36 billion to roll out in 2019
The government is set to implement 10 big ticket infrastructure projects worth P36.23 billion in 2019, the Department of Budget and Management (DBM) said yesterday.
— The Philippine Star

See here for more of today’s Philippines morning news

Singapore morning newsSingapore morning news

Compiled by Joanne Encantador @encantador_jo

 

Court rules Britain free to extradite Singapore bank robbery suspect
A British court has ruled that a fugitive wanted by Singapore for a rare bank robbery could be extradited after the wealthy city-state agreed to waive corporal punishment if he is found guilty.
— Reuters

Healthcare spending is shifting from hospital-building to maintenance
Globally hailed as one of the most efficient healthcare systems in the world, Singapore’s healthcare sector is rapidly maturing on the back of steady and proactive investments to address the city state’s medical infrastructure gaps, giving it room to set its sights towards the provision and delivery of quality care.
— Singapore Business Review

Philips & Temasek Joins 2018 Asia-Pacific In2Summit Lineup
Philips Personal Health VP Nicholas Lee and Temasek Public Affairs Director Lena Goh have joined the lineup for the Holmes Report’s Asia-Pacific In2 Innovation Summit in Singapore on 11 September, which will focus on the transformation required of the region’s public relations industry.
— AEC News Today PR Newswire (media release)

See here for more of today’s Singapore morning news

 

Thailand morning newsThailand morning news

Compiled by John Le Fevre @photo_journ

 

NLA passes 2019 fiscal budget bill
The National Legislative Assembly (NLA) endorsed the 3.3-trillion-baht budget on Thursday that will finance fiscal year 2019 beginning on Oct 1.
— Bangkok Post

Budget will entrench power of military: student activists
IT TOOK lawmakers just three hours to approve the Bt3-trillion budget for next year – and with all 206 legislators voting in favour of the bill, analysts believe the military government is sticking to its old school of thought.
— The Nation

Thailand’s Queen Mother leaves hospital
Thailand’s 86-year-old Queen Mother Sirikit was discharged from a Bangkok hospital on Thursday, the Royal Household Bureau said in a statement, after being hospitalized for influenza.
— Reuters

See here for more of today’s Thailand morning news

 

Vietnam morning newsVietnam morning news

Compiled by Sreypov Men @MenSreypov

 

Over 87,000 enterprises established in first eight months
Vietnam saw the establishment of 87,448 new enterprises in the first eight months of 2018, with a total capital of more than VND878 trillion (US$37.8 billion), up 2.4% in the number of enterprises and 6.9% in capital.
— Nhan Dan Online

Vietnam invests in Hue’s airport
Vietnam has announced a major upgrade for Hue Phu Bai airport the nearest to Hue city, home of the World Heritage Imperial Citadel site.
— TTR Weekly

Vietnam’s fruit and vegetable exports up 14.1% in eight months
Vietnam’s fruit and vegetable export revenues were estimated at US$346 million in August 2018, bringing the total value in the first eight months of the year to US$2.7 billion, up 14.1% compared to the same period of 2017.
— Nhan Dan Online

See here for more of today’s Vietnam morning news

 

The Asean morning news roundup and its individual country morning news round-ups are the most comprehensive hand-curated selection of news reports from around the Asean Economic Community (AEC) published. We scour hundreds of local and international news and websites to find the things that you need to know to start your working week day.

We clearly identify the source of the story, whether it is behind a paywall, a media release, or whether the site uses annoying pop-up advertising or auto-play video, in case those things annoy you. It’s all then packaged up in an easy to read format enabling you to make an informed choice of whether you want to learn more by clicking directly through to the original source, or keep on reading the headlines. AEC News Today: Governance, not government; policies not politics.

 

Support independent media by sharing

Leave a Reply

Your email address will not be published.