Asean morning news for November 8

Asean morning news for November 8

Asean morning newsAsean morning news

Compiled by Stella-maris Ewudolu          @stmarisewudolu

 

Golden Triangle’s drug production surges amid opioid worries
Organised crime groups are expanding and diversifying drug production in Southeast Asia’s Golden Triangle raising concern the region could emerge as a hub for synthetic opioids such as fentanyl, according to the UN’s Office on Drugs and Crime (UNODC).
— Aljazeera

ASEAN pulls ahead of Japan in capital market reform
Since being hit hard by the 1997 currency crisis followed by the 2008 global financial crisis, some members of the Association of Southeast Asian Nations have been hastening reforms in capital markets and corporate governance.
— Nikkei Asian Review (paywall)

Analysis: Trans-ASEAN gas projects losing relevance amid the fast-paced LNG growth
An ambitious project to link Southeast Asia with a network of natural gas pipelines is losing relevance to a much faster build-out of LNG import terminals as the region leans increasingly towards seaborne supplies.
— S&P Global Platts

Non-profit organisations at risk of terrorist infiltration and exploitation, AUSTRAC warns
Non-profit organisations (NPOs) operating in Australia and throughout South-East Asia are vulnerable to terrorist infiltration and exploitation, according to financial intelligence agency AUSTRAC.
— ABC News

MassMutual Venture sets up US$50m Asean fund
Venture capital MassMutual Ventures (MMV) has set up a US$50mil fund to invest in 10 to 15 start-up companies throughout Southeast Asia (Asean) over the next three years.
— The Star Online

The outlook for deal-making remains ‘patchy’ in Southeast Asia, senior banker says
Trade tensions and geopolitical developments have yet to weigh on deal-making sentiment across Southeast Asia — but the near-term outlook remains “patchy,” according to a senior investment banker.
— CNBC

Commentary: Getting ahead of the next Asian financial crisis requires stronger institutions
The 10th anniversary of the global financial crisis has provided the occasion for serious reflection about the prevention and resolution of financial and economic crises, and whether the key lessons from the crisis have been addressed.
— Channel NewsAsia

Seoul to provide W15b for Korean firms eyeing ASEAN market
Some 15 billion won ($13.4 million) will be allocated in the national budget next year to assist Korean small and medium-sized companies making inroads into the Southeast Asian market, a presidential aide said Wednesday, calling the region “a blue ocean” for Korean companies.
— The Korea Herald

Christmas still tops for e-commerce sales in Southeast Asia: Meltwater
There might be an increasing number of dates appearing on the calendar when it comes to e-commerce sales such as Black Friday and Singles’ Day, but the traditional Christmas holiday still represents the majority of online engagement, according to a new study by Meltwater.
— The Business Times

The need for joint counter-terrorism frameworks in South-east Asia
The threat of violent-extremism in South-east Asia has evolved in two distinct phases: the Al-Qaeda centric phase and the Islamic State-centric phase.
— Today Online

Can Duterte’s new council build borderless trading zone with ASEAN countries?
Believing in the potential economic relations of ASEAN member-nations, Philippine President Rodrigo Duterte signed an Executive Order creating the Mindanao Barter Council to enhance trade and commerce between and among member states of the Brunei-Indonesia-Malaysia and Philippines (BIMP) otherwise known as East ASEAN Growth Area (EAGA).
— Al-Arabiya

Report: ASEAN statement expresses concern over South China Sea
Leaders in Southeast Asia are concerned about Chinese expansion in the South China Sea, according to a Japanese press report.
— UPI

ASEAN, India key to Korea’s New Southern Policy
ASEAN nations and India are the crux of President Moon Jae-in’s New Southern Policy that seeks peace and prosperity in the region beyond the Korean Peninsula and Northeast Asia, according to the head of a presidential committee, Wednesday.
— The Korea Times

3 AI trends that are changing the Asian tech scene
Southeast Asia’s adoption of artificial intelligence has been especially evident in the areas of “high tech and telecom, transportation and logistics, financial services, and healthcare,” according to a 2017 report from management consulting firm McKinsey & Company.
— Tech in Asia

Making space for women leaders at the table
A bigger representation of women in governments and positions of decision-making at all levels has been found to improve the well-being of a population through identification and targeting of lagging development agendas that impacts on their quality of life.
— The Asean Post

Cambodia morning newsCambodia morning news

Compiled by Sreypov Men          @MenSreypov

 

CDC Grants License to Seven New Factories in Cambodia with an Investment of over US$80M
The Council for the Development of Cambodia (CDC) approved seven new factories in Cambodia with a total investment of over US$80 million, according to CDC’s Facebook on Wednesday.
— Fresh News 

NBC aims to strengthen confidence in the riel
The National Bank of Cambodia (NBC) announced on Tuesday that it will continue to strengthen confidence in the riel by stabilising the currency exchange rate and boosting public awareness on the economic benefits of using the local currency.
— Phnom Penh Post

2018 Cambodia-US Trade in Goods: $3B in Total, Cambodia Exports US$2.8B to US
Cambodia and the United States trade in goods has reached $3.2 billion in the first nine months of 2019, up 39 per cent compared to the same period in 2017, according to the report on Cambodia-US Trade of Cambodian Commerce Ministry’s Statistics Department released on Wednesday.
— Fresh News

See here for more of today’s Cambodia morning news

 

Indonesia morning newsIndonesia morning news

Compiled by Stella-maris Ewudolu          @stmarisewudolu

 

BOEING WARNS 737 MAX MAY PLUNGE DUE TO ERROR AFTER LION AIR CRASH
Boeing Co. says it has issued a safety bulletin that reiterates guidelines on how pilots should respond to erroneous data from an “angle of attack” sensor following last week’s crash of a Boeing plane in Indonesia that killed 189 people.
— Khaosod English

Manufacturing industry grows slower in October
The manufacturing industry grew slower in October, indicated by the decline of Nikkei and IHS Markit’s purchasing managers’ index (PMI), which stood at 50.5, lower than the previous month’s index of 50.7.
— The Jakarta Post

Fifth Our Ocean Conference Generates US$10.7 Billion in Pledges
The fifth Our Ocean Conference generated 305 commitments to maintain the sustainability of our oceans.
— IISD

See here for more of today’s Indonesia morning news

 

Lao PDR morning newsLao PDR morning news

Compiled by           @Maria Rasonable

 

Deadly Swine Virus in Southwest China Scares Asian Neighbors
The fast-spreading virus was found in a “backyard” operation last week in Guanfang village, within about 200 kilometers (124 miles) of China’s border with Myanmar and Laos and near Thailand.
— Bloomberg

How Laos plans to educate its young leaders
With a median age of 22, this young, vibrant generation will one day be the civil servants and business leaders of Laos.
— GovInsider

Russian Army Engineers Defuse Over 100 Cluster Munitions In Laos – Defense Ministry
Russian mine clearance specialists have defused over 100 cluster munitions in Laos, which remained on the country’s territory since the US bombardments of 1964-1973, the Russian Defense Ministry said Wednesday.
— Urdupoint

See here for more of today’s Lao morning news

Malaysia morning newsMalaysia morning news

Compiled by Sreypov Men          @MenSreypov

 

Malaysia will soon tax foreign providers of online services to level playing field
Foreign companies providing online services in Malaysia will soon have to pay a service tax, the Ministry of Finance confirmed on Wednesday (Nov 7).
— Business Insider

Dr M says Malaysia still studying new trans-Pacific trade deal
Malaysia is still studying the implications and potential impacts of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) before deciding to ratify the free trade agreement, said Tun Dr Mahathir Mohamad.
— Malay Mail

Malaysia allocates $240m for national fiber plan
The Malaysian government has announced a 1 billion ringgit ($239.7 million) initiative to improve the nation’s telecoms connectivity in the market in order to promote growth of its digital economy.
— Telecom Asia

See here for more of today’s Malaysia Morning News

 

Myanmar morning newsMyanmar morning news

Compiled by           @Maria Rasonable

 

Squid importers face extra paperwork
The Department of Fisheries will demand importers of squid from Myanmar present official papers certifying that they have been caught according to sustainable fishing practices, in a move perceived as a measure to help shore up the price of local squid.
— Bangkok Post

Can Myanmar meeting stop the tide of meth ‘flooding’ the Asia-Pacific?
Top officials from 17 countries in the Asia-Pacific are meeting in Myanmar’s capital, Naypyidaw, from Wednesday to Friday to discuss the deteriorating situation and negotiate new strategies to tackle the problem of synthetic drugs.
— South China Morning Post

Trade at Myanmar-China border at standstill, barter system urged
Due to an import ban on rice, sugar and maize by China, trade at the Myanmar-China border has been at a standstill for the past month, U Khin Maung Lwin assistant secretary at the Ministry of Commerce said.
— Myanmar Times

See here for more of today’s Myanmar morning news

 

Philippines morning newsPhilippines morning news

Compiled by Stella-maris Ewudolu          @stmarisewudolu

 

Trade gap widens to $3.93 billion in Sept 2018
Philippine imports hit an all-time high in September while exports remained weak, bringing the trade deficit to $3.93 billion, the highest in nine months amid sustained purchase of capital goods needed for the government’s ambitious infrastructure program, the Philippine Statistics Authority (PSA) reported yesterday, a day before the release of third quarter economic performance.
— The Philippine Star

Japan allots P22.7 billion for air defense, MRT-3 rehab
The government of Japan has provided P22.7 billion worth of aid to the Philippines to enhance the country’s air defense capabilities and rehabilitate the Metro Rail Transit Line 3 (MRT-3), the Department of Foreign Affairs (DFA) said yesterday.
— The Philippine Star

Philippines To Sign $3.3-Billion Railway Loan Deal With China
Philippine President Duterte and his Chinese counterpart Xi Jinping are set to sign this month a 175-billion pesos ($3.3 billion) credit deal to build the South Railways project, a 639-kilometer standard gauge railway line between Manila and Bicol.
— Investvine

See here for more of today’s Philippines morning news

Singapore morning newsSingapore morning news

Compiled by           @Maria Rasonable

 

Leaders gear up for 33rd Asean Summit
Leaders from 10 Southeast Asian countries, along with counterparts from China, the United States, Japan and Russia, are set to convene for the 33rd Asean Summit and Related Summits, which will be held at the Suntec Singapore International Convention and Exhibition Centre (Suntec) from November 13-15.
— The Nation

Mission accomplished: Singapore DHL DRT volunteers end Sulawesi deployment (video)
While much of the media attention in the wake of the devastating Sulawesi tsunami was centred on the destruction and human tragedy, behind the scenes frantic efforts were being made to get vital aid and equipment to the areas worst effected.
— AEC News Today

Compulsory e-filing starts this year for companies with revenue over S$10m: IRAS reminder
COMPULSORY e-filing of corporate income tax returns starts this year for companies with revenue of more than S$10 million in year of assessment (YA) 2017, the Inland Revenue Authority of Singapore (IRAS) reminded in a media statement on Wednesday.
— The Business Times

See here for more of today’s Singapore morning news

 

Thailand morning newsThailand morning news

Compiled by John Le Fevre          @photo_journ

 

Thai-China trade pact signed
Beijing: Thailand is moving ahead with plans to upgrade economic cooperation with China, agreeing Wednesday to the comprehensive framework on enhancing trade and economic partnership between the two nations and aiming to double bilateral trade to UScopy40 billion (4.59 trillion baht) by 2021.
— Bangkok Post

Marijuana bill shortened to allow quicker legislation
With only 17 articles, cannabis may become legal next month; Prajin vows strict control.
— The Nation (annoying popups)

Thai, Aussie agencies to keep up fight against drugs
Thailand and Australia have agreed to continue their Taskforce Storm operation to combat drug trafficking, an industry that is believed to fund terrorism.
— Bangkok Post

See here for more of today’s Thailand morning news

 

Vietnam morning newsVietnam morning news

Compiled by Sreypov Men          @MenSreypov

 

Vietnam ranked 19th among world’s best destinations for expats
Vietnam ranked 1st in terms of the disposable income for expat in HSBC’s latest report, where 72% said they have saved up more just by moving to Vietnam than in their home countries.
— The Hanoi Times

Vietnam among world’s top five competitive retail markets
Vietnam’s retail market is one of the top five competitive compared to others in the world, heard a seminar held in Ho Chi Minh City on November 7.
— VietnamPlus

PetroVietnam surpasses key financial targets
The Vi?t Nam National Oil and Gas Group (PetroVietnam) has surpassed key financial targets for the first 10 months of this year thanks to stability in production and business as well as the rise in petrol prices in October.
— Viet Nam News

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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