Asean Morning News For March 28

Asean Morning News For March 28

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

ASEAN opens dialogue with China, US
ASEAN member countries open a dialogue with the Government of the People`s Republic of China and the United States regarding issue on iron and steel industry policy imposed by both countries.
— Antara

INVEST ASEAN China, new tech ‘growth driver in next
Maybank Kim Eng, Asean’s leading investment bank, said at its Invest Asean conference on Monday that it believes the rise of China and new technology will be the two key forces driving the biggest change in Asean in the next decade.
— The Nation

Bali Top Destination in, Thailand the Most Choices (video)
According to some recent research planning annual holidays can be more stressful for some people than planning a wedding.
— AEC News Today (video)

ASEAN’s growing appetite for unified communications
Led by enterprises in Singapore and Malaysia, adoption of unified communications tools is expected to grow with the surge in demand for cloud-based and hosted offerings.
— Computer Weekly

Japan pledges to promote central role of ASEAN
Japan highly values the central role of the Association of Southeast Asian Nations (ASEAN) in promoting peace and stability in the region and the world, Japanese Ambassador to Singapore Kenji Shinoda said at a recent workshop in Singapore.
— VietnamPlus

Has the cryptocurrency bubble burst?
Bitcoin started the week badly, as prices for the popular cryptocurrency fell 7% to dip below US$8,000. The sudden sell-off follows from Twitter’s decision to ban advertising for cryptocurrencies.
— The Asean Post

Digital transformation enables DBS’ fintech strategy
ACI Worldwide, a global provider of real-time electronic payment and banking solutions, is extending its partnership with DBS to support the bank’s ongoing digital transformation, including offering Singapore’s first fast Real-Time Payments gateway service to corporate and institutional customers.
— Networks Asia

Rising China, new technology will drive biggest change in Asean — Maybank Kim Eng
Maybank Kim Eng said the rise of China and new technology will be the two key forces driving the biggest change in Asean in the next decade.
— The Edge Markets

Uber Users Need to Transfer to Grab Platform Soon
Uber ride sharing drivers and customers in Jakarta and other 50 Southeast Asian cities have until April 8 to transfer their accounts to Grab, following an announcement on Monday (26/03) that Uber will sell its business in the region to the Singapore-based Grab.
— Jakarta Globe

Thailand turns to bioenergy
Members states of the Association of Southeast Asian Nations (ASEAN) have turned to renewable energy as the most sustainable way to ensure energy security.
— The Asean Post

Asean markets climb, Vietnam at record high
Southeast Asian stock markets rose on Tuesday, with Vietnam scaling an all-time peak, as reports of U.S.-China trade negotiations and the Chinese premier’s pledge to ease access for U.S. businesses eased fears of a trade war.
— The Star Online

ASEAN Organic Cosmetics Market Estimated to Exhibit 9.5% CAGR through 2020
The global organic cosmetics market was valued at nearly US$ 40 billion in 2015, and by 2020, it is expected to reach US$ 66 billion, increasing at a CAGR of over 10%.
— The Columnist

Automotive Industry ASEAN: Indonesia Lags Behind Thailand
Also in 2017 Indonesia remained the biggest car sales market as well as the second-biggest car producer in the ASEAN region.
— Indonesia Investments (media release)

Minimal impact of US-China trade war expected in ASEAN
The brewing trade war between the United States and China would have minimal impact on Southeast Asia as long as the conflict does not escalate into a full-blown conflict, according to Maybank Kim Eng.
— Philippine Star

Maybank sees technology driving growth in Southeast Asia
New technology is set to drive change in Southeast Asia as equity funding in startups more than doubled in the first eight months of last year, disrupting and enabling every industry in the region.
— Philippine Star

Regulating artificial intelligence adoption in Southeast Asia
Elon Musk famously compared the dangers of Artificial Intelligence (AI) to that posed by nuclear; an indication, he said, of the urgent need for regulation of the field.
— The Asean post

Australia and Asean can do more to face up to realities
The recent Sydney summit is flashy but fails to seriously confront the big challenge of changing power dynamics in Asia.
— The Straits Times

Tenets of Thailand’s ASEAN engagement
ASEAN member states have different perspectives on the significance of the grouping. As one of the founder member states, the second largest economy and a leading state within ASEAN, Thailand’s view is important.
East Asia Forum 

MPs review trade, investment ties with Asean
The Standing Committee on Commerce and Textile met under the chairmanship of Siraj Muhammad Khan, MNA, in Parliament House, Islamabad Monday.
The Nation

Three ways China wants to build Asian infrastructure
Most banks would balk at the idea of giving money away – but the China-based Asian Infrastructure Investment Bank (AIIB) is decidedly different.
Gov Insider 

Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men    @MenSreypov

 

Cambodia Tax Chief: Comply or be Fined… & Possibly Shunned
Attendees at a seminar in Phnom Penh last week ahead of the March 31 closing of the annual tax return filing period have been told to comply with Cambodia’s tax law or face steep fines when caught.
— AEC News Today

Small taxpayers will be the engine for future economic growth
It is a generally accepted economic tenet that small businesses are the backbone of an economy. Statistical facts have supported this creed and governments across the globe encourage growth of small businesses through supportive legislation, monetary grants, paid research and most importantly, tax incentives.
— The Phnom Penh Post

Hun Sen willing to risk losing his oldest ally
As global pressure steadily mounts on Cambodian Prime Minister Hun Sen over his crackdown on the opposition, independent media, nongovernmental organizations and other critics, he is also in danger of losing one of his few close allies: Vietnam.
— Asia Times

See here for more of today’s Cambodia Morning News

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Bali Top Destination in Asean, Thailand the Most Choices (video)
According to some recent research planning annual holidays can be more stressful for some people than planning a wedding.
— AEC News Today 

EMR Capital, Indonesia’s Adaro buy Rio Tinto’s last coal mine for $2.25b
Rio Tinto Group completed its exit from coal with a bang, agreeing to sell more than $4 billion of Australian mines in just a week.
— Deal Street Asia

Two Indonesian state firms to raise $584 mln by selling private equity funds
Two Indonesian state companies plan to sell private equity funds to raise 8 trillion rupiah ($583.6 million) to strengthen their finances, the government said on Tuesday.
— Reuters

See here for more of today’s Indonesia Morning News

 

Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

1.3 trillion kip in state assets misappropriated despite inspections
Even though the government has tightened up efforts to combat corruption, more than one trillion kip in state assets was siphoned off last year.
Vientiane Times 

Govt, JICA embark on project to promote the rule of law
Four Lao government institutions and the Japan International Cooperation Agency (JICA) have agreed to carry out a project to develop and strengthen the rule of law in Laos.
The bodies involved are the Ministry of Justice, People’s Supreme Court, Office of the Supreme People’s Prosecutor, and the National University of Laos.
Vientiane Times 

What’s Behind the New Russia-Laos Military Facility Hype?
On March 26, reports began surfacing about the opening of a new Russian defense facility in Laos. While few specifics have been disclosed about the exact nature of the facility, it speaks to both Moscow’s continued determination to play up its security engagement with Southeast Asian states more generally as well as recent developments in Russia-Laos defense cooperation.
The Diplomat 

See here for more of today’s Lao Morning News

Malaysia morning newsMalaysia Morning News

Compiled by Sreypov Men    @MenSreypov

 

Malaysia’s Rubber Export To China Rose 80 Per Cent In 2017
Malaysia’s rubber export to China rose 80 per cent to RM6.6 billion or 875,000 tonnes last year.
— Malaysian Digest

Maybank sees stable growth for its three home markets
Malayan Banking Bhd expects its three “home markets” – Malaysia, Indonesia and Singapore – to continue seeing stable growth this year, after posting a record-breaking 2017.
— New Straits Times

TNB inks six solar power purchase agreements
Tenaga Nasional Bhd (TNB) has signed six large-scale solar (LSS) photovoltaic power purchase agreements (PPAs) with special-purpose companies (SPCs) set up by the winners of a bidding exercise organised by the Energy Commission in the first quarter of 2017.
— The Star Online

See here for more of today’s Malaysia Morning News

 

Myanmar morning newsMyanmar Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Myanmar picks outspoken lawmaker as new president
The promotion of former lower house speaker Win Myint as Myanmar’s president Wednesday could signal a change in the country’s power structure where State Counselor Aung San Suu Kyi reigns supreme, but much still remains unclear.
Nikkei Asian Review (metered paywall)

UN chief ‘shocked’ by top Myanmar general’s comments on Rohingya
United Nations Secretary General Antonio Guterres expressed “shock” at comments by Myanmar’s military chief in which he said the Rohingya minority shared nothing in common with the rest of the population and that their demand for citizenship had stoked recent violence.
Channel NewsAsia 

China freezes Myanmar traders’ accounts
Chinese authorities have frozen seven bank accounts owned by Myanmar traders who do business along the border in northern Shan state, claiming that the funds they contain are linked to illegal gambling activities, RFA reported on 26 March.
Mizzima

See here for more of today’s Myanmar Morning News

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

PH drew $774-million worth of foreign funds as of mid-March
Foreign portfolio investments or “hot money” posted a net inflow of $774.18 million as of mid-March, a reversal of the net outflow of $252.34 million a year ago, data from the Bangko Sentral ng Pilipinas show.
— Manila Standard

PDEA informants get P7.5-M reward
The Philippine Drug Enforcement Agency (PDEA) yesterday gave around P7.5 million in cash to six civilian informants under its Operation Private Eye (OPE) program.
— Philippine Star

Grab to absorb Uber’s 500 employees in PHL
RIDE-SHARING tech behemoth Grab may absorb the more than 500 Uber employees in the Philippines and the rest of Southeast Asia, after acquiring the latter on Monday.
— Business Mirror

See here for more of today’s Philippines Morning News

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat   @leakhenakhat

 

Singapore revokes work permits of North Koreans
The Government has revoked the work permits of North Koreans in Singapore, according to a report it submitted to the United Nations Security Council (UNSC).
Channel NewsAsia

Singapore Minister of Education on the importance of higher education reform for Industry 4.0
According to Singapore Minister for Education Mr Ong Ye Kung, a key function of education is to produce workers for the economy, as such Industry 4.0 naturally has a profound impact on how education is being delivered and how teaching is done.
Open Gov Asia 

Changi Airport sees 5.6% year-on-year rise in passenger traffic in Feb
Changi Airport handled 4.93 million passengers in February alone ― a 5.6 per cent year-on-year increase, the airport operator has revealed.
Today Online 

See here for more of today’s Singapore Morning News

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Cabinet gives nod to highs-speed train network linking three international airports
The cabinet on Tuesday gave a green light to the 200 billion baht high-speed train project connecting three international airports of Suvarnabhumi and Don Meuang in Bangkok and U-taphao in Rayong.
— Thai PBS

EU lauds Thai foreign labor registration efforts
The European Union has commended the Thai government for its management of foreign laborers, noting significant progress in their registration.
— News Today (video)

Bali Top Destination in Asean, Thailand the Most Choices (video)
According to some recent research planning annual holidays can be more stressful for some people than planning a wedding. To help take the stress out of holiday planning TripAdvisor, the worlds largest travel website, trolls through millions of reviews a year to come up with a list on just about anything to do with travel.
— AEC News Today

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov

 

Phone contributes 21% to Vietnam’s total export revenue
Exports of Vietnam’s phones and spare parts last year skyrocketed by 31.9 percent against the previous year to US$45.27 billion, accounting for 21.15 percent of the country’s total export revenue.
— The Hanoi Times

Agro-forestry-fishery export hits 8.7 billion USD in Q1
The export of farm, forestry and fishery products in March reached 3.1 billion USD, bringing the total export value of the items in the first quarter of this year to 8.7 billion USD, a rise of 9.6 percent from the same quarter in 2017, according to the Ministry of Agriculture and Rural Development.
VietnamPlus

Vietnam is Asia’s timber processing hub: trade association
Vietnam has outstripped its regional competitors to become the timber processing centre of Asia, according to the Vietnam Timber and Forest Product Association (Vifores).
— Nhan Dan Online

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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