Asean morning news for May 17

Asean morning news for May 17

Asean morning newsAsean morning news

Compiled by Stella-maris Ewudolu          @stmarisewudolu

 

IA, FTA between Hong Kong, 5 ASEAN member states to take effect
Those parts relating to Hong Kong and five Association of Southeast Asian Nations (ASEAN) member states, under the Investment Agreement (IA) between Hong Kong and ASEAN, will enter into force on June 17, a spokesman for China’s Hong Kong Special Administrative Region (HKSAR) government said on Thursday.
— Xinhuanet

Investors Are Dumping These Southeast Asia Funds
Overseas investors in Southeast Asian stocks are selling out at the fastest rate in almost a decade, as key markets in the region get caught up in the escalating trade war.
— Bloomberg

Fisheries body wants work permit clarity
The National Fisheries Association of Thailand is calling for a clearer policy regarding the renewal of work permits for Myanmar, Cambodian and Lao migrant workers whose work permits are due to expire between this year and next year.
— Bangkok Post

Temasek’s Vertex raises US$230m for fourth South-east Asia fund
Vertex Venture Holdings raised US$230 million in the first close of its fourth Southeast Asian fund to back technology startups across the region and India.
— The Business Times

Study examines forest loss in Mekong region
Dramatic forest degradation and loss in the Greater Mekong region have both their causes and potential solutions rooted in forest governance, according to a recent publication by researchers from the Center for People and Forests (RECOFTC), the University of British Columbia, and WWF. (The full publication can be found here.)
— Asia Times

Southeast Asians flock to Germany
Southeast Asian travellers rank Germany the top destination in Europe, according to German Tourism Board CEO, Petra Hedorfer.
— TTR Weekly

South Korea Is Key to Improving Asia’s Financial Safety Net
ASEAN, China, Japan, and South Korea – collectively ASEAN+3 – announced earlier this month that they are considering adding local currencies to the dollar-denominated regional currency swap arrangement.
— The Diplomat

Indonesia supports Timor Leste as member of ASEAN
Indonesia supports the recommendation that Timor Leste becomes the 11th member state of ASEAN, in a bid to add to the strength the organization in the Southeast Asia region.
— Antara News

Automakers that Focus on Energy-efficient Vehicles Best Poised to Leverage Government Subsidies, says Frost & Sullivan
Growing domestic consumption and private investments are giving a huge boost to vehicle sales across all Association of Southeast Asian Nations (ASEAN) markets.
— AEC News Today/ PRNewswire (media release)

UK ministers meet ambassadors of ASEAN to move ties forward
Foreign Secretary Jeremy Hunt and Minister for Asia and the Pacific Mark Field held a meeting in London with Ambassadors and High Commissioners of the member states of ASEAN on Wednesday (15/5) to underline the UK’s commitment to, and growing presence in, South East Asia.
— Antara News

SingPost & Synagie partner to provide on-demand warehousing and logistics solutions for SMEs in Singapore and Southeast Asia
Singapore Post (“SingPost”) and Synagie Corporation Ltd. (“Synagie”) today announced that they will collaborate to provide on-demand warehousing and fulfilment solutions to SMEs in Singapore and Southeast Asia (SEA).
— AEC News Today/ PRNewswire (media release)

Australia: NEAS increases focuses on ASEAN region at conference
Australia’s English language sector is in an advantageous position to expand its reach into the ASEAN region and help its countries develop their own sectors and quality assurance models, according to speakers at this year’s NEAS Management Conference in Sydney.
— The PIE News

Growth of Workforce Management in Southeast Asia Industry: Overview, Size and Share 2019-2024
The Southeast Asia Workforce Management market size is $- – million USD in 2018 with – – CAGR from 2014 to 2018, and it is expected to reach $- – million USD by the end of 2024 with a CAGR of – – from 2019 to 2024.
— Market Research Gazette

Stunning display of Asean talents
REGIONAL diversity shone in the Asean Fashion Designers Showcase (AFDS) that was part of the Penang Fashion Week 2019 in Gurney Paragon Mall.
— The Star Online

Why convenience stores are doing well in Southeast Asia
Vaughan Ryan of Nielsen discusses the evolution of mini marts in Southeast Asia and why the model works in this region.
— Yahoo Finance (video)

ASEAN Automotive Aftermarket Is Predicted To Surpass US$ 48 Bn In Revenues By 2026 End
In Future Market Insights’ market report titled, “Automotive Aftermarket: ASEAN Industry Analysis and Opportunity Assessment, 2016-2026”, poor road infrastructure and extended vehicle life have been identified as profitable factors for the growth of the automotive aftermarket in ASEAN.
— Market Mirror

DEAD IN THE WATER and LAST DAYS OF THE MIGHTY MEKONG
Books about rivers have typically been boy’s own tales. John Keay’s Mad About the Mekong, for instance, told a rhapsodic tale of the history and geography of this river.
— Geographical


Cambodia morning newsCambodia morning news

Compiled by John Le Fevre          @photo_journ

 

Remnants of 100 undiscovered ancient temples unearthed in Cambodian jungle
The temples, which in many cases are just foundations, were unearthed in Kratie province’s historical Samphu Borak area of eastern Cambodia’s Kratie Province.
— Daily Mail

Cambodia’s rice exports to China continue to rise in first 4 months
Cambodia exported 95,066 metric tons of milled rice to China in the first four months of 2019, a 66-percent increase over the same period last year, showed an official report released on Thursday.
— Xin Hua

Cambodian internet star who charmed tourists in a dozen languages arrives in China to chase university dream
The Cambodian teenager who became an internet star in November for hawking souvenirs in several languages has enrolled in a private middle school in east China’s Zhejiang province and wants to go to a top university in Beijing.
— South China Morning Post

See here for more of today’s Cambodia morning news

Indonesia morning newsIndonesia morning news

Compiled by Stella-maris Ewudolu          @stmarisewudolu

 

Indonesia Has a Grand $412 Billion Plan to Rebuild the Country
Indonesia is drafting ambitious plans for more than $400 billion in building projects, from constructing 25 airports to new power plants, as the government seeks to stoke growth in Southeast Asia’s largest economy, according to the country’s planning minister.
— Bloomberg

Investigation Finds Indonesia’s Election Commission Violated Vote Procedures
An investigation found that Indonesia’s election commission violated official procedures when tallying votes during the country’s presidential election.
— BloombergQuint

Indonesia tells airlines to trim fares without compromising safety
Indonesia’s transport ministry has trimmed the maximum fares airlines can charge for domestic routes, effective later this week, as millions of Muslims prepare for homecoming trips at the end of the fasting month of Ramadan.
— Reuters

See here for more of today’s Indonesia morning news


Lao PDR morning newsLao PDR morning news

Compiled by Stella-maris Ewudolu          @stmarisewudolu

 

Electricity imports to drop, exports to drive growth in Laos
The amount of electricity imported by Laos is likely to drop in 2019 as the country witnesses a surge in electricity generation, local daily Vientiane Times reported on Thursday.
— Xinhuanet

Infrastructure restoration underway in flood-hit Sanamxay district
The restoration of roads and construction of a waste water treatment facility in flood-affected Sanamxay district of Attapeu province is progressing as planned.
— Vientiane Times (paywall)

WFP starts handover of school feeding program to Laos
The World Food Programme (WFP) has handed over its school feeding program in more than 500 schools to the Lao government.
— China.org.cn

See here for more of today’s Lao morning news

Malaysia morning newsMalaysia morning news

Compiled by Sreypov Men           @MenSreypov

 

MIDA approves RM129b investments for Penang
Malaysian Investment Development Authority (Mida) approved 4,084 manufacturing projects for Penang in 2018 with investments totaling RM129.1bil.
— The Star Online

Malaysia aims to become 100pc renewable energy nation
Malaysia is getting ready to make a transition towards 100 per cent renewable energy to make the environment more sustainable, competitive, efficient and greener.
— Borneo Bulletin

Malaysia’s Q1 GDP growth slows to 4.5%
Malaysia’s economic growth moderated to 4.5% in the first quarter of 2019 from 4.7% in the fourth quarter of 2018. The expansion on the economy was underpinned by private sector activity, which remained the key driver of growth.On the supply side, major sectors continued to expand.
— The Sun Daily

See here for more of today’s Malaysia Morning News


Myanmar morning newsMyanmar morning news

Compiled by Sreypov Men           @MenSreypov
 

Ooredoo taps ZTE for 5G development in Myanmar
Ooredoo Myanmar and ZTE have agreed to collaborate on 5G network development. Under the terms of the partnership deal, Ooredoo Myanmar and ZTE will study potential test environments to deploy Ooredoo’s 5G network. The test environments will be used to evaluate the performance of the 5G network.
— Telecompaper

A Chinese Special Economic Zone is deepening conflict in Myanmar’s Rakhine State
The Chinese-backed Kyaukphyu Special Economic Zone is shaping Myanmar’s conflict with the Arakan Army. Rakhine communities will benefit little from the project while bearing many of the costs, and it ignores their calls for control over the area’s natural resources.
— Asean Today

Myanmar army chief’s Twitter account suspended over anti-Rohingya hate speech
A Myanmar army general accused of masterminding genocide against the country’s Muslim Rohingya people has had his Twitter account suspended, following complaints about him using the social media platform for hate speech.
— The Independent

See here for more of today’s Myanmar morning news

Philippines morning newsPhilippines morning news

Compiled by Stella-maris Ewudolu          @stmarisewudolu

 

Powering up & switching on: TFSEP2019 to focus on Philippines energy security
Like many other Asean member states the Philippines is rapidly running out of electricity. Demand is expected to more than double to more than over 40,000 megawatts (MW) by 2040, propelled by a rapidly growing population and industrialisation.
AEC News Today (video)

Government raises over P19 billion from Panda bond issue
The government raised more than P19 billion from the sale of its second renminbi-denominated or Panda bonds in China on May 15, the Finance Department said Thursday.
— Manilastandard.net

Bangko Sentral cuts RRR by 200 bps
THE central bank has resumed reducing banks’ reserve requirement ratio (RRR) on Thursday, with monetary authorities ordering a 200-basis-points (bps) cut on the 18-percent liquidity-mopping tool.
— The Manila Times

See here for more of today’s Philippines morning news

Singapore morning newsSingapore morning news

Compiled by John Le Fevre          @photo_journ

 

S’pore to spend big on upgrading air traffic system
In a move to ensure safety and efficiency, Singapore is expected to spend several billion dollars over the next few decades to upgrade Changi Airport’s air traffic management system and introduce other improvements.
— Straits Times (annoying popups)

Tough year for banking sector: Report
Fitch Solutions Macro Research said this will be a challenging year for the banking sector, given that global outlook risks may spill over to the small and open economy of Singapore.
— Straits Times (annoying popups)

Singapore firms scramble to mitigate trade war fallout as orders dive
SINGAPORE businesses across various sectors from manufacturing to trading to services are feeling the heat from the extended US-China trade war as new orders dive – with some bracing for a decline in revenue this year.
— 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’s profits take Q1 nosedive
Thai Airways International Plc (THAI) has blamed the appreciation of the baht, the US-China trade war and the closure of Pakistani airspace for a 83% dive in its year-on-year first-quarter profits.
— Bangkok Post

BoT prepares for US manipulation listing
Bank of Thailand governor Veerathai Santiprabhob has acknowledged the possibility that the US will add Thailand to a watch list for currency manipulation because of a high current account surplus, but not for stepping into the foreign exchange market for trade advantages.
— Bangkok Post

Royal decree has been issued for parliament to officially convene
His Majesty King Maha Vajiralongkorn Phra Vajiraklaochaoyuhua will preside over the formal opening of parliament on May 24th, following the issuance of a royal decree allowing the parliament to officially convene.
— NBT World (video)

See here for more of today’s Thailand morning news

Vietnam morning newsVietnam morning news

Compiled by Sreypov Men           @MenSreypov

 

Industry 4.0 could boost Việt Nam’s GDP by up to 16 per cent
The Fourth Industrial Revolution could increase Việt Nam’s GDP by between US$28.5 billion and $62 billion by 2030, equivalent to a rise of 7-16 per cent, according to the Central Institute for Economic Management (CIEM).
— Viet Nam News

Labor Outsourcing in Vietnam: 5 Key Reforms from Decree 29
Vietnam recently issued new updates on labor outsourcing regulations under Decree 29/2019/ND-CP (Decree 29). The new regulation came into effect on May 5 and details guidelines on Clause 3 of Article 54 of the Labor Code regarding outsourcing services, deposit payment and the list of permissible outsourced jobs.
— Vietnam Briefing

Why Vietnam is Overtaking China as a Destination for US Export Manufacturing
As has been the case for several emerging Asian countries, Vietnam has followed an export-led growth model, combining trade liberalization and foreign direct investment promotion to spur exports.
— China Briefing

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.

 

Support independent media by sharing

Leave a Reply

Your email address will not be published.