Asean Morning News For May 7

Asean Morning News For May 7

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

 

China ‘crosses threshold’ with missiles at South China Sea outposts
Beijing has installed cruise missiles and surface-to-air missiles on man-made islands throughout the South China Sea, according to a report on Wednesday, a move one US security analyst described as “a clear offensive threat.”
Asia Times

The digital economy challenge for Asean
There are many challenges remaining before the Asean economies are able to embrace the digital economy, a report put out by the Monetary Authority of Singapore (MAS) noted.
The Straits Times

Misaligned rails keep SEAsia delinked from China
Last month’s launch of a 70-kilometer rail line between Sisophon and Battambang in northwestern Cambodia, a region that hasn’t seen a running train since the 1975-79 Khmer Rouge era, is the latest link in a flurry of regional train-building aimed nominally at promoting regional “connectivity.”
Asia Times

ADB finances USD17-B projects in ASEAN countries
The Asian Development Bank (ADB) has poured in USD16.5 billion as of February this year for developmental projects in ASEAN member states.
— Philippine Canadian Inquirer

ADB allots $339.4M for grants, assistance
The Asian Development Bank (ADB) will set aside $339.4 million for grants and technical assistance to low-income and developing member countries as approved during the just-concluded annual meeting of its board of governors.
— The Manila Times

Asean gets tough on the US over trade, but tiptoes around South China Sea build-up
The latest Asean summit in Singapore underscored the emergence of China as the new regional leader.
— South China Morning Post

ASEAN Economy Update
Asian partner countries have vowed to push back against protectionist measures that they warned could derail world economic recovery.
— HEFFX

ASEAN Manufacturing PMI accelerates in April
The Nikkei ASEAN Manufacturing Purchasing Manager’s Index, or PMI, accelerated to 51.0 in April from 50.1 in March, marking the highest reading in the past year.
— Nikkei Asian Review

Any trade war would affect all economies in Asean: Heng
All of South-east Asia’s economies would be hit if a trade war erupts among the world’s largest economies, said Singapore’s Finance Minister Heng Swee Keat yesterday.
— The Straits Times

Many challenges before Asean embraces digital economy: Report
There are many challenges remaining before the Asean economies will be able to embrace the digital economy, a report by the Monetary Authority of Singapore (MAS) noted.
— The Newpaper

Asean Plus Three vows greater financial cooperation
Leaders of Asean Plus Three member countries yesterday vowed to boost security in the financial sector, and hinted at the possibility of establishing a bond market in Cambodia.
— Khmer Times

China BRI will boost ASEAN infrastructure and economic growth
China’s Belt and Road Initiative can help make up for infrastructure funding gap to support ASEAN’s regional initiatives namely the ASEAN Economic Community 2025 (AEC 2025) and Master Plan on ASEAN Connectivity 2025 (MPAC 2025).
— Next Big Future

Asia Attractive for Renewables
China is the world’s most attractive country for renewable energy investment, according to a new study by Ernst & Young.
— Financial Tribune

Saba Industries Group Invests US $100 Million in Southeast Asia Rice Industry
Saba Industries Group, a manufacturer and global exporter of rice and other commodities, today announced that it is investing US $100 million in Southeast Asia’s rice industry to help modernize the sector, promote organic rice farming and improve farmers’ quality of life.
— PR Urgent (media release)

ADB: As-Pac well-positioned to sustain growth momentum
The world economic center of gravity is shifting towards Asia and the Pacific, so there is a need to take opportunities in a positive way while recognizing that challenges remain, Takehiko Nakao, Asian Development Bank (ADB) president, said.
— Malaya

Eyeing business potential in Laos
Laos is an ASEAN member country in the heart of the Indochinese region, which has economic potentials and is opening up itself for cooperation with other countries.
— Antara News

China and Indonesia Deal Helps ASEAN
Ahead of Chinese Premier Li Keqiang’s official visit to Indonesia next week, experts said stable ties between the two major developing economies will also enhance China’s cooperation with the Association of Southeast Asian Nations (ASEAN).
Live Trading News

ASEAN needs to improve crisis management capacity —ex-minister
The Association of Southeast Asian Nations (ASEAN) should develop its crisis management capacity given the issues that affect the region, former Indonesian Foreign Minister Dr. Marty Natalegawa said.
GMA Network

Philippines accepts 250,000T rice offers from Vietnam, Thailand
Vietnam also won a separate deal involving 80,000 tonnes of 25 percent broken rice at $517.50 a tonne, below the NFA’s budget of $520.50 a tonne
— Tuoi Tre

ASEAN must be more than convener of meetings: diplomat
ASEAN must deliver more than just material prosperity for its citizens if it is to remain relevant in the next five decades, says former Foreign Minister of Indonesia Marty Natalegawa.
— Viet Nam News

More soured loans in South-east Asia to whet appetite of private investors
THE stacking pile of distressed debt in South-east Asia could lure more private investors to circle the region for alternative assets, consultants told The Business Times.
— Business Times

News Analysis: China’s cooperation with Indonesia spells benefits for ASEAN as well
Ahead of Chinese Premier Li Keqiang’s official visit to Indonesia next week, experts said stable ties between the two major developing economies will also enhance China’s cooperation with the Association of Southeast Asian Nations (ASEAN).
— Xinhua

Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men @MenSreypov

 

New Era For The Phnom Penh Post Under Malaysian PR Co. Ownership (video) *Updated
Cambodia’s oldest newspaper The Phnom Penh Post is set to enter a new phase after its parent company was sold yesterday (May 5) to a Malaysian public relations company with links to the Cambodia government and rival Cambodian publisher Mohan Tirvgmanasam Banddam, better known as T Mohan, publisher of the rival Khmer Times.
— AEC News Today (video)

Phnom Penh Post Sale Distraction?: Australian ABC Victim Blaming Attack On Cue
It is hardly surprising news that the new owners of Cambodia’s oldest newspaper The Phnom Penh Post is a PR company, nor that the deal is said to have been done early last week.
— AEC News Today

Cambodia’s opposition threatens to withdraw from election
One of Cambodia’s strongest and newest opposition parties is threatening to withdraw from July’s election, saying undemocratic forces are at play.
— Aljazeera

See here for more of today’s Cambodia Morning News

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

 

Mandiri Property Targets IDR400 Billion Fund Disbursement
Exhibition of Mandiri Property Expo 2018 which took place at the Jakarta Convention Center (JCC) on May 5-13, 2018, targets to book Mandiri KPR or morgage loans disbursement amounting to IDR400 billion.
— Netral News

Light rail line construction completed in Asian Games host city
Construction of a light rail transit (LRT) line in Palembang, a city in southern Sumatra that will co-host the 2018 Asian Summer Games, is complete and testing will begin this month, a top city official said on Saturday.
— Bangkok Post

Gorontalo Reduces Stunting Rate to 24 Percent, Village Minister: The Biggest Worldwide
Government of Gorontalo Regency is able to reduce the number of stunting or stunted growth by half from previously 40 percent.
— Netral News

See here for more of today’s Indonesia Morning News

 

Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

 

Committees set up in provinces to speed investment approval
A number of provinces have established Investment Promotion and Management Committees (IPMCs) in a bid to accelerate the consideration and approval of investment proposals.
Vientiane Times

Feature: Chinese youths doing handsome work on China-Laos railway
In the central Laos’ scorching sunshine in May, 35-year-old Xu Zhou was busy mapping design and inspecting the process of construction in the sixth section of the China-Laos railway construction project.
Xinhua Net

Declare losses caused by fraudulent finance company, victims told
Authorities in charge have told victims to declare their losses after depositing money with the Financial.Org Company, which illegally sought financial contributions from the general public.
Vientiane Times

See here for more of today’s Lao Morning News

 

Malaysia morning newsMalaysia Morning News

Compiled by Sreypov Men @MenSreypov

 

Houses priced RM300,000 and above are unaffordable: BNM
Houses in the price range of between RM300,000 and RM500,000 should not be categorised as affordable housing for households earning the median income, said Bank Negara Malaysia (BNM).
— New Straits Times

New Era For The Phnom Penh Post Under Malaysian PR Co. Ownership (video) *Updated
Cambodia’s oldest newspaper The Phnom Penh Post is set to enter a new phase after its parent company was sold yesterday (May 5) to a Malaysian public relations company with links to the Cambodia government and rival Cambodian publisher Mohan Tirvgmanasam Banddam, better known as T Mohan, publisher of the rival Khmer Times.
— AEC News Today (video)

Overseas Malaysians frustrated at late ballot papers; volunteers to fly votes home
In Nottingham in the UK, Malaysian student Ana (not her real name) has just found out the ballot paper she needs to vote in nationwide polls is only arriving on May 9 – the day of the elections.
— Channel News Asia

See here for more of today’s Malaysia Morning News

 

Myanmar morning newsMyanmar Morning News

Compiled by Leakhena Khat @leakhenakhat

 

Work on Myanmar dam goes on under heavy guard
Work on a massive hydropower dam appears to be picking up in eastern Myanmar as the electricity-starved nation seeks ways to light more homes amid protests from locals and environmentalists.
The Straits Times

Myanmar businesses join hands for FDI
THE MYANMAR Investors Development Association (MIDA), an alliance of large-scale local enterprises, will help the government achieve its economic goals by actively engaging with local and foreign investors, according to its chairman Khin Maung Aye.
The Nation

UNSC Should Understand the Complexity and Multitude of Issues Facing Myanmar
Welcome to Dateline Irrawaddy! This week, we’ll discuss the visit of the United Nations Security Council (UNSC) delegation, which arrived in Myanmar on Monday.
The Irrawaddy

See here for more of today’s Myanmar Morning News

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

 

Philippine signs $1-B loan deal with South Korea
The Philippines has signed an agreement with South Korea that would enable the Duterte administration to borrow as much as $1 billion over the next five years.
— Philippines Magazine

DOT: PH records ‘milestone’ 2M tourist arrivals in Q1
The Department of Tourism (DOT) on Sunday reported a “milestone” after the Philippines breached its 2-million mark for tourist arrivals in the first quarter of 2018.
— Philippine News Agency

GDP growth likely hit 6.8% in Q1—Moody’s
The Philippine economy likely grew 6.8 percent year-on-year in the first quarter, faster than the actual expansion of 6.5 percent in the fourth quarter of 2017 and 6.4 percent a year ago, on robust consumer spending and higher government expenditures, Moody’s Analytics, a division of Moody’s Corp., said in a report over the weekend.
— Manila Standard

See here for more of today’s Philippines Morning News

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat @leakhenakhat

 

The Trump-Kim summit will reportedly take place in Singapore in June
The US and North Korean leaders are likely to meet in Singapore in mid-June, according to South Korean media reports, as tensions ease on the Korean peninsula following the first inter-Korean summit in over a decade.
Business Insider

The cheapest and most expensive areas to live in Singapore
Singapore is recognised as an exceptionally expensive city, especially when it comes to price of cars and properties.
Asia One

MAS warns of rising number of phishing scams targeting bank accounts
The Monetary Authority of Singapore (MAS) has advised consumers to “exercise utmost caution” when dealing with emails requesting for sensitive information associated with their bank accounts.
Channel NewsAsia

See here for more of today’s Singapore Morning News

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre @photo_journ

 

BoT: All sectors of Thai economy expand in March
The Bank of Thailand (BoT) reports that the country’s economy grew 4% in the first quarter of 2018 with expansion recorded in all sectors in the third month.
— News Today (video)

Thailand becomes world’s No.1 rice exporter
The Department of Foreign Trade (DFT) says that Thailand has become the world’s No.1 rice exporter during first four months of this year.
— Chiang Mai Mail

WANTED – start-ups for Paypal’s incubation programme
PayPal has launched the PayPal Incubation Programme to help encourage Thailand’s fintech start-up ecosystem to expand throughout the Southeast Asia region.
— The Nation

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men @MenSreypov

 

Shrimp industry ambitious for $4.8 billion export plan
Vietnam’s shrimp exporters are expected to meet the US$4.8 billion export target this year thanks to market advantage and competitive improvement of added-value products.
— The Hanoi Times

Viettel’s revenue from overseas investment reaches 1.7 bln USD
Viettel Group’s revenue from its overseas investment in 2017 surged by 38 percent from the previous year to reach 38 trillion VND (1.7 billion USD).
— VietnamPlus

Developer seeks $50M addt’l investment in Vietnam
Infrastructure developer CII Bridges and Roads Investment Joint Stock Co. (CII B&R) is seeking additional funding from the tollways unit of Metro Pacific Investments Corp. (MPIC) to partly finance the estimated $300 million tollways projects in Vietnam.
— Malaya

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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