Asean morning news for October 17

Asean morning news for October 17

Asean morning newsAsean morning news

Compiled by Stella-maris Ewudolu          @stmarisewudolu

 

SE Asia among FDI growth drivers
FOREIGN DIRECT INVESTMENT (FDI) inflows to the Philippines grew faster than the Southeast Asian average last semester, though the country’s volume paled in comparison with those of some of its regional peers.
— BusinessWorld Online

Philippine navy to send ship, 300 sailors to take part in ASEAN-China maritime military exercises
The Philippine Navy will send a military transport ship to participate in the upcoming ASEAN-China maritime military exercises, a navy spokesman said on Tuesday.
— Xinhua

Government of Canada secures new access in key ASEAN markets
Expanding and diversifying Canada’s trade with emerging markets such as those in the ASEAN region through trade agreements and increased market access is a priority for the Government of Canada.
— Benzinga

China’s trade war pain can be ASEAN’s gain: how Southeast Asia is reaping a windfall of shifting trade and investment
Trade and political tensions are quickening China’s integration with ASEAN’s economy.
— South China Morning Post

Investment industry backs ASEAN deals on freedom of movement
SECURITIES professionals welcomed the freer entry of investment professionals from major ASEAN markets, calling a recently-agreed arrangement a step forward in developing investor expertise.
— BusinessWorld Online

Malaysia and ASEAN not dumping ground for advanced countries
She said a balanced approach was needed that take into consideration the interests of the public, the environment and the industry players, while preventing Malaysia as well as ASEAN nations from being turned into a dumping ground for advanced countries’s plastic waste.
— New Straits Times

PHL found Southeast Asia’s 5th most competitive
THE PHILIPPINES placed fifth among the nine economies of the Association of Southeast Asian Nations (ASEAN) covered by the Global Competitiveness Report 2018-2019, which measures a country’s standing using a set of criteria that determine level of productivity, and 56th globally among 140 economies on the list.
— BusinessWorld Online

Indonesia calls to establish standard for halal products in Asean
The Indonesian government has voiced a call to set up a standard for halal products in Southeast Asian countries during a meeting of the ASEAN Ministers of Agriculture and Forestry (AMAF).
— Antara News

Southeast Asia to stay net steel buyer on capacity growth curbs: worldsteel delegates
Southeast Asia will likely remain a net importer of steel even as demand grows at one of the fastest rates globally because environmental pressures are making it difficult to add new capacity, delegates at an industry event said Tuesday.
— S&P Global Platts

Mekong-Japan cooperation enters a new dimension
The Mekong region is emerging to be a new growth center as well as a strategic frontier for Asia due to its relatively high economic performance, deepening regional integration, and complex interdependence within the region.
— Khmer Times

Southeast Asian geological and energy congress held in Hanoi
The 15th Regional Congress on Geology, Mineral and Energy Resources of Southeast Asia (GEOSEA 15) officially opened in Hanoi on October 16.
— Nhan Dan Online

ASEAN diplomats foresee greater economic collaboration with Korea
Amid South Korea’s increasing pivot toward the Association of Southeast Asian Nations, foreign diplomats from the region expressed confidence in deeper and diversified bilateral economic ties at a business forum organized by The Korea Herald on Tuesday.
— Korea Herald

ASEAN-linked organizations bring community together
The ASEAN Secretariat gathered dozens of organizations associated with the regional bloc, ranging from youth organizations, professionals, government and private institutions, as well as veterans’ communities, in a bid to build a sense of unity in the region.
— The Jakarta Post

Asean launches social and sustainability bond standards
The Asean Capital Markets Forum (ACMF) has launched two key initiatives to drive a more connected and sustainable Asean capital markets.
— ESG The Asset

Southeast Asia swapping opium with coffee
The infamous ‘golden triangle’, once the capital of Southeast Asia’s illegal opium trade, is in the middle of a transition.
— Geographical

Accelerating Digital Transformation in Southeast Asia
There is a tremendous amount of excitement in Southeast Asia about the growth of the digital economy, considering the development of digital lifestyles, cashless societies, app-based businesses, smart nations and virtual services.
— Brink Asia

Third ASEAN ministerial meeting on women to be held in Hanoi
The third ASEAN Ministerial Meeting on Women (AMMW) and related meetings will take place in Hanoi on October 18-25, Deputy Minister of Labour, Invalids, and Social Affairs Nguyen Thi Ha told a press conference on October 15.
— Nhan Dan Online

South Korea to strengthen diplomatic relations with Indonesia, Asean
The South Korean Government under President Moon Jae-in`s administration is trying to strengthen South Korea`s diplomatic relations with Indonesia and other ASEAN member countries, said Choe Won-gi, Head of the Korean National Diplomatic Academy.
— Antara News

Futureproofing ASEAN’s labour market
The International Labour Organization (ILO) predicts that half of salaried workers – approximately 137 million – in Cambodia, Indonesia, Vietnam, the Philippines and Thailand are at risk of their jobs being substituted due to breakthroughs in technology.
— The Asean Post

Cambodia morning newsCambodia morning news

Compiled by Sreypov Men          @MenSreypov

 

Enthusiasm ‘low’ over new wage
Garment and footwear industry workers continue to struggle following the Ministry of Labour and Vocational Training’s October 5 announcement of a $182 minimum wage for the industry next year.
— Phnom Penh Post

Food and utilities pushed up inflation in June says report
According to latest data from the National Bank of Cambodia (NBC), the country’s Consumer Price Index (CPI) stood at 2.34 in June last year and rose to 2.98 in June this year.
— Khmer Times

EuroCHAM Cambodia Issues Joint Letter Against EBA Withdrawal
The chairmen of the international chambers of commerce, including the European Chamber of Commerce in Cambodia, the French Cambodian Chamber of Commerce and Industry (CCIFC), the German Companies Group in Cambodia (ADW ), North European Chamber of Commerce in Cambodia (NordCham), and Italian Business Association in Cambodia addressed a special letter to Cecilia Malmstrom, Commissioner for European Trade Commission, in the protest against the withdrawal of Everything But Arms (EBA) schemes from Cambodia.
— Fresh News

See here for more of today’s Cambodia morning news

 

Indonesia morning newsIndonesia morning news

Compiled by Stella-maris Ewudolu          @stmarisewudolu

 

Indonesia books US$360.7 billion in foreign debt in August
Indonesia’s foreign debt – which includes debts from central banks, governments and the private sector – stood at US$360.7 billion in August, growing by 5.14 percent year-on-year (yoy), driven by growth in private sector debt amid slowdowns in government and central bank debt.
— The Jakarta Post

Indonesia’s budget committee approves 5.3 pct target for 2019 GDP growth
The Indonesian parliament’s budgetary committee on Tuesday approved the assumptions on which the government based its 2019 budget proposal, including a GDP growth target of 5.3 percent.
— Reuters

Indonesia-Australia Free Trade Deal in Jeopardy over Israel Embassy Comments
Nearly one year after US President Donald Trump confirmed the US would recognize Jerusalem as the capital of Israel and move its embassy from Tel Aviv to Jerusalem, Australian Prime Minister Scott Morrison followed suit by suggesting that Australia plans to make the same risky move.
— Indonesia Investments (media release)

See here for more of today’s Indonesia morning news

 

Lao PDR morning newsLao PDR morning news

Compiled by           @Maria Rasonable

 

Maybank Foundation Expands Silk Weaving Centre in Laos
Maybank Foundation has expanded its Maybank Women Eco-Weavers centre in Laos with the addition of a hostel for the women who are being trained in this traditional skill.
— The Laotian Times

China’s Belt and Road Hits Bumps in Laos
The initiative, for instance, has greatly improved the economic and social conditions within Laos.
— Foreign Policy in Focus

Poverty, hunger worsened by challenges at home, worldwide
A number of persistent problems have worsened poverty and hunger in countries across the globe including Laos, a minister told an event yesterday that marked World Food Day, and International Day and National Week for Poverty Eradication.
— Vientiane Times

See here for more of today’s Lao morning news

Malaysia morning newsMalaysia morning news

Compiled by Sreypov Men          @MenSreypov

 

Malaysia can build its own fighter jets by 2030, says Mat Sabu
MALAYSIA is capable of building its own fighter jets by 2030, Defence Minister Mohamad Sabu said, but the problem is money.
— The Malaysian Insight

Malaysia’s economic growth to slow to 4.7% this year
Malaysia’s economy is expected to grow at a slower pace of 4.7% in 2018 from 5.9% last year, according to Allianz Group.
— The Star Online

Hilton Kuala Lumpur Malayia’s best for fourth year (video)
For the fourth year in a row Hilton Kuala Lumpur has taken out the World Travel Awards (WTA) title of ‘Malaysia’s Leading Business Hotel’ and ‘Malaysia’s Leading Business Hotel Suite’.
— AEC News Today

See here for more of today’s Malaysia Morning News

 

Myanmar morning newsMyanmar morning news

Compiled by           @Maria Rasonable

 

Facebook Bans More Myanmar Military-Linked Accounts for Spreading Propaganda (video)
Facebook has removed nearly two dozen more accounts and pages linked to Myanmar’s military, which the U.N. is investigating for possible charges of genocide during its campaign of violence against the Rohingya Muslim minority.
— Time

Ethnic Armies, Myanmar Military Make Headway in Preparatory Peace Talks
The 10 ethnic armed groups that have signed a nationwide peace accord with the Myanmar government agreed in principle on Tuesday to a key military demand that they fold their militias into a single national army and to extend dialogue to ethnic armies outside the cease-fire agreement, participants said.
— Radio Free Asia

EU Trade Preference Halt Would Cause Widespread Harm to Myanmar: Activists, Lawmakers
The withdrawal of EU trade preferences would impact the lives of ordinary people, putting more than 400,000 jobs at risk in the fast-growing garment sector, which is the country’s largest foreign income earner, lawmakers, labor policy makers and rights groups warn.
— The Irrawaddy

See here for more of today’s Myanmar morning news

 

Philippines morning newsPhilippines morning news

Compiled by Stella-maris Ewudolu          @stmarisewudolu

 

Philippines cuts 2018 GDP growth goal, raises inflation targets
The Philippine government has shaved its economic growth target for this year and raised inflation forecasts for 2018 and 2019, reflecting caution as soaring consumer prices curb expansion in one of Asia’s fastest growing economies.
— Today Online

Gov’t to rework 2019 budget with likely ₱41-B foregone fuel excise tax revenue
The government will rework the proposed 2019 budget in the wake of possible foregone revenue arising from the suspension of additional excise tax on fuel next year.
— CNN Philippines

PHL jumps 12 rungs up Global Competitiveness Index of 140 economies
MANILA has jumped 12 notches in the Global Competitiveness Index 4.0 to 56th among 140 economies on the backbone of a strong labor market and macroeconomic stability.
— Business Mirror

See here for more of today’s Philippines morning news

Singapore morning newsSingapore morning news

Compiled by           @Maria Rasonable

 

SPH print media operating revenue drops for 6th year; falls by $69 million in FY2018
The Singapore Press Holdings (SPH) has released their annual report for the financial year (FY) ending August 31, 2018, which highlighted the group’s sliding revenue for their print media business.
— Mothership

Temasek said to have held talks on acquiring stake in China’s Anbang Insurance
Singapore’s state investment firm, Temasek Holdings, has held talks with Chinese authorities about acquiring a stake in Anbang Insurance Group Co. as well as some of its assets, according to people with knowledge of the matter.
— TodayOnline

Which University Program in Singapore Offers the Highest Return on Investment?
Attending university is a crucial step for advancing your career and salary potential. With that said, the cost of university education continues to soar and not all programs are created equal in terms of helping students find a job.
— Yahoo Singapore

See here for more of today’s Singapore morning news

 

Thailand morning newsThailand morning news

Compiled by John Le Fevre          @photo_journ

 

CENTRE REVISES UP YEAR’S GDP GROWTH TO 4.5%
Siam Commercial Bank’s Economic Intelligence Centre (EIC) has revised up the growth rate of Thailand’s gross domestic products (GDP) this year from 4.3 per cent to 4.5 per cent, thanks to strong performance in the export and tourism sectors.
— The Nation

Japanese angle for fish processing hub
The Japan External Trade Organization (Jetro) aims to persuade Japanese seafood investors to set up a seafood processing hub in Thailand in a bid to expand into new markets in Southeast Asia and the Middle East.
— Bangkok Post

British woman’s ‘rape’ never happened, Thai police conclude
A BRITISH teen who claimed to have been drugged and raped on Koh Tao in June has failed to confirm the site of the attack, identity of the attacker or how the attack happened while being questioned in the UK, Thai police officers said.
— The Nation (annoying popups)

See here for more of today’s Thailand morning news

 

Vietnam morning newsVietnam morning news

Compiled by Sreypov Men          @MenSreypov

 

Vietnam 16th top country for expat earnings: HSBC survey
An annual HSBC survey says expats in Vietnam earn an average of $90,408 a year, ranking 16th in the world.
— VnExpress

Vietnam’s per capita GDP long way away from 2020 target
Vietnam’s GDP per capita is set to increase this year, but its 2020 target of $3,200-3,500 looks distant. Minister of Planning and Investment Nguyen Chi Dung said at a National Assembly meeting Monday that if Vietnam’s GDP increases by 6.7 percent this year, per capita GDP will reach $2,540, up $155, or 6.1 percent year-on-year, and 1.21 times that of 2015.
— Vietnam Insider

Vietnam police bust massive meth haul
Vietnam police discovered a massive haul of suspected methamphetamine worth an estimated US$3 million after pulling over a speeding truck, authorities said on Tuesday (Oct 16), the latest major bust in a country where synthetic drug use is on the rise.
— Channel NewsAsia

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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