Asean Morning News For June 20

Asean Morning News For June 20

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

PM and ASEAN Chairman agree to step up cooperation
The ASEAN Secretary-General has expressed his readiness to support Thailand to be the ASEAN Chair in 2019 and strengthen cooperation in all levels.
— News Today (video)

Bangkok Bank President has confidence in ASEAN economy
The President of Bangkok Bank spoke today at the AEC Business Forum 2018, expressing confidence in the ASEAN economy despite the escalating trade war between the United States and China.
— NNT

US-China trade war may benefit Asean
The ongoing trade dispute between the United States and China is yielding more opportunities for Thailand and Asean to extend their grip on international trade, said Matthew Pottinger, an adviser to the Asia desk of the National Security Council (NSC).
Bangkok Post 

Asia’s digital competitiveness rankings fall
ASIA’S rankings fell in the IMD World Digital Competitiveness Rankings 2018, while the US, Canada and Europe made it to the top ten list.
— Digital News Asia

Emerging Asia hit by biggest foreign investor exodus since 2008
A FALLING tide lowers all boats, it seems. Amid an exodus from emerging markets, investors are pulling out of even Asian economies with solid prospects for growth and debt financing.
— The Nation

FORGET THE WARSHIPS: MALAYSIAN PM MAHATHIR’S PEACE FORMULA FOR SOUTH CHINA SEA
Keep out the warships and instead have joint small-boat patrols – that is Malaysian Prime Minister Mahathir Mohamad’s prescription for maintaining peace in the disputed and resource-rich South China Sea.
— South China Morning Post

World’s Eyes On Asian Summits As US Leadership Dwindles
The summits provide an opportunity for leaders to forge relationships, sort out differences and progress shared interests.
— Thailand Business News

SE Asia turns new battle ground for food delivery as ride hailing apps step on gas
Southeast Asia is now the new battleground for the food delivery industry with regional ride-hailing rivals Go-Jek and Grab driving into the space with a hearty appetite.
— Deal Street Asia

ASEAN – a priority economic partner of France
French businesses are looking to promote their technology and products in the Association of Southeast Asian Nations (ASEAN), aiming to raising France’s competitiveness in a region until now dominated by goods from Japan, the Republic of Korea and China.
— Vietnam Plus

Southeast Asia’s billet, slab markets in holiday lull
Import prices for steel prices in Southeast Asia were unchanged over the past week amid thin trading, while those for slab in wider region including East Asia declined slightly on soft demand.
— Metal Bulletin

Data Center Construction in Southeast Asia 2018 Market – Opportunities, Challenges, Strategies & Forecasts 2022
The analysts forecast the Data Center Construction Market in Southeast Asia to grow at a CAGR of 8.17% during the period 2018-2022.
— Digital Journal

Google heats up Asian e-commerce race
Google’s latest move of investing in Chinese e-commerce giant JD.com reveals that the company is stepping up its game to make inroads in Asia.
The Asean Post

Despite complications, ASEAN auto industry still has plenty of momentum
The ASEAN project has seen trade barriers fall across the region, with important consequences for the automotive industry, writes the Economist Intelligence Unit’s Ana Nicholls
Auto Motive World 

AmCham S’pore urges US to join trans-Pacific trade pact
THE American Chamber of Commerce in Singapore (AmCham Singapore) has called on the United States to join the trade pact which has replaced the Trans-Pacific Partnership (TPP), from which the US withdrew in January 2017.
The Business Times (paywall)

Southeast Asian online shoppers are big spenders via apps
Southeast Asian online shoppers are leading the world when it comes to spending on shopping apps, according to research by tech company Criteo.
Retail News 

Australian govt heartened by rising demand for coal in China, Southeast Asia
The Australian government has been buoyed by growing interest in thermal coal from Southeast Asian countries, saying the increased demand demonstrated how bright the future was for Australian coal.
Global Times 

Bangkok Bank Confident On Asean Growth Despite Trade Tensions
The President of Bangkok Bank spoke today at the AEC Business Forum 2018, expressing confidence in the ASEAN economy despite the escalating trade war between the United States and China.
Thailand Business News 

Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men    @MenSreypov

 

Cambodia warns against ‘clean finger’ boycott
Cambodia’s ruling party, the Cambodian People’s Party (CPP) threatened legal action against a campaign started by opposition members which called for voters to boycott a national election slated to take place in July. The ‘clean finger’ campaign represents a last-ditch effort by the now dissolved opposition party that has slammed the upcoming elections as a sham.
— The Asean Post

China Pledges $100m in Cambodia ‘Military Aid’
China has pledged to give Cambodia an additional $100 million in military aid following a visit to the country this week by Chinese Defense Minister Wei Fenghe.
— VOA Cambodia

Prime Minister to reveal new oil policy next week
With the price of oil in the international market on the rise, Prime Minister Hun Sen yesterday announced he will unveil a new policy to deal with the impact of more expensive crude on the 28th of this month.
— Khmer Times

See here for more of today’s Cambodia Morning News

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Indonesia c.bank says ready to respond to US Fed rate hike
Indonesia’s central bank said on Tuesday it is ready to respond to the US Federal Reserve’s interest rate hike with policies that could include raising its own interest rates again and easing mortgage rules.
— The Edge Markets

New millennial party rebrands Indonesia’s predatory politics
The Indonesian Solidarity Party (PSI), a new participant in Indonesia’s electoral landscape set to contest the 2019 national election, is grabbing the attention of Indonesian political watchers.
— East Asia Forum

Chemical from Indonesia in antidumping net; probe begins
India has initiated an antidumping probe into import of a chemical – used in food, beverages and pharma industry – from Indonesia.
— Times of India

See here for more of today’s Indonesia Morning News

 

Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

PM highlights significance of connectivity for regional ties
Prime Minister Thongloun Sisoulith has reaffirmed that regional connectivity will be realised after the completion of railways linking China to Asean member nations.
Vientiane Times

Vietnamese Vice President Begins Visit To Laos
Vietnamese Vice President Dang Thi Ngoc Thinh arrived in Vientiane on Tuesday for a four-day visit to the Lao PDR in response to the invitation of her host counterpart Phankham Viphavanh.
Lao News Agency 

NA debates draft law on central bank
The duties and structure of the Bank of the Lao PDR’s executive board were at the centre of debate at the National Assembly (NA) yesterday, with the aim of strengthening the bank’s management and preventing illegal financial activities.
Vientiane Times  

See here for more of today’s Lao Morning News

Malaysia morning newsMalaysia Morning News

Compiled by Sreypov Men    @MenSreypov

 

Malaysia’s Ex-PM Faces Charges For Playing ‘Central Role” In 1MDB Scandal
Malaysia’s former prime minister Najib Razak will likely be facing multiple charges including for alleged embezzlement and bribery with government money following a probe into suspicions that he was involved in funds having been looted from state-run fund 1Malaysia Development Berhad (1MDB), Reuters cited incumbent Prime Minister Mahathir Mohamad as saying on June 19.
— Investvine

Walls around former Malaysian PM Najib Razak closing in
For years, former prime minister Najib Razak denied any wrongdoing in the 1MDB embezzlement case which involved the misappropriation of billions of taxpayer dollars.
— ABC News

Malaysia may extend tax breaks for key foreign investors: PM
Malaysia could extend new tax incentives for foreign investment in areas such as technology if companies promise to create better-paid jobs for Malaysians, Prime Minister Mahathir Mohamad said on Tuesday.
— Bangkok Post

See here for more of today’s Malaysia Morning News

 

Myanmar morning newsMyanmar Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Myanmar’s tourism proposals offer small gestures but miss the elephant in the room
At the opening of the Myanmar Tourism Conference, Vice President U Henry Van Thio addressed those in attendance.
Asean Today 

Myanmar parliament votes down death penalty for child rapists
Myanmar’s parliament voted down a proposal to give the death penalty to convicted child rapists, the state-run Global New Light of Myanmar reported today.
Coconuts Yangon (metered paywall)

Researchers study impact of Myanmar minimum wage rise
As part of an ongoing programme to improve labour conditions in the garment industry, a European multi-stakeholder initiative has started a research project on living wages in Myanmar.
Just-Style

See here for more of today’s Myanmar Morning News

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

BOP gap breaches $2 billion, overshoots BSP target
The country’s overall balance of payments (BOP) position incurred a deficit of $2.08 billion in the first five months, a dramatic rise from only $706 million in the same period last year, due in part to the rapid rise in merchandise trade deficit brought about by the sustained rise in imports of raw materials and capital goods, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.
— The Philippine Star

Philippines ranks low on digital competitiveness ranking
The Philippines dropped 10 notches to 56th out of 63 countries in the 2018 World Digital Competitiveness Ranking based on a report released by the International Institute for Management Development, with the AIM Rizalino S. Navarro Policy Center for Competitiveness as its Philippine country partner.
— Manilastandard.net

PHL online hiring up 14% in March —Monster.com
Online hiring in the Philippines has increased by 14 percent in March on the back of the economy’s expansion and investors’ positive outlook on the country’s macroeconomic fundamentals, data released by online jobs portal Monster.com showed Tuesday.
— GMA Online

See here for more of today’s Philippines Morning News

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat   @leakhenakhat

 

Singapore loses top spot to US in global ranking of digital competitiveness
Singapore lost the top spot and dropped to second place in a digital competitiveness ranking of 63 economies, pipped by the United States in a move up from third place last year.
The Straits Times

US Treasury Department targets Singapore for money laundering
Last month, the Asia Sentinel reported that the US Treasury Department has initiated a wide-ranging campaign against money laundering particularly targeting the governments in Cyprus, Beirut, Singapore and the Gulf states (‘US Mounts Major Global Anti-Money-Laundering Campaign’, 31 May).
The Online Citizen 

Civil servants to get 0.5-month mid-year bonus, one-off lump sum payment of at least S$300
Civil servants in Singapore will receive a 0.5-month mid-year bonus and a one-off payment of at least S$300, the Public Service Division (PSD) said on Tuesday (Jun 19).
Channel NewsAsia 

See here for more of today’s Singapore Morning News

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Prayut says election to be held after Coronation ceremony
The government is making preparations for the Coronation of HM King Maha Vajiralongkorn and the election will be held after the completion of this important ceremony, said Prime Minister Prayut Chan-o-cha on Tuesday.
— Thai PBS

Investment drawdown estimate drops to 70%
State agencies are expected to draw down just 70% of this fiscal year’s annual investment budget, well below the target of 87%, says the head of the Comptroller-General’s Department.
— Bangkok Post

Tax measures approved to promote setting up of international firms’ headquarters in Thailand
The cabinet approved a draft decree on tax discounts and waivers to promote the establishment of international companies’ headquarters in Thailand, said Government Spokesman Lt Gen Sansern Kaewkamnerd.
— NNT

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov

 

In Vietnam, distrust of government’s China policy fuels protests
Protests by thousands of people in cities across Vietnam are showing just how easy it is to unite public opinion and mobilize dissent when an issue has one key ingredient: China.
— ABS-CBN

Catholics injured as police suppress protests in Vietnam
Catholics have been caught up in a police crackdown aimed at suppressing opposition to a proposed special economic development plan and the approval of a controversial cybersecurity law.
— UCA News

VN petroleum market may be captured by big importers: experts
The Vietnam Chamber of Commerrce & Industry (VCCI) and experts have warned that minimum limits on petroleum imports to be allocated by the Ministry of Industry and Trade (MOIT) may kill small businesses, leaving space for the market to be captured by big importers.
— VietNamNet Bridge

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.

 

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