Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Asean to benefit from Belt and Road initiative — UOB
Asean is expected to benefit from the pick-up in activities along China’s Belt and Road (B&R) corridor, due to geographic proximity, historical relations with China, access to resources and emerging market status.
— Borneo Post
SCG finalises Bt188 bn Vietnam JV
THE SIAM Cement Group (SCG) yesterday said it has finalised plans to build a Bt188-billion petrochemical complex in Vietnam in a joint venture with Vietnam Oil and Gas Group (PetroVietnam).
— The Nation
AirAsia: Listing of Indonesian, Philippine units by Q1 2018
AirAsia Bhd’s plans to list its Indonesian and Philippine subsidiaries are in progress and they are expected to make their debuts on the respective countries’ stock exchange latest by the first quarter of next year.
— The Sun Daily
Asean stocks higher; Philippine index closes at 1-year top
Most Southeast Asian stock markets edged up on Wednesday as investors bet the U.S. Federal Reserve would leave interest rates unchanged, focusing instead on when it would start paring its massive bond holdings.
— The Star Online
ASEAN integration evolved with auto industry’s value chain: Nissan ex-COO
Automobiles have become a key industry among members of the Association of Southeast Asian Nations, with over 3 million new cars sold in 2016.
— Nikkei Asian Review
Philippines to consult ASEAN on joint China sea oil search
The Philippines tried on Wednesday (Jul 26) to reassure Southeast Asian neighbours about its proposal to partner with Beijing in oil exploration in the disputed South China Sea, promising to consult them on any plans.
— Channel NewsAsia
Number of Detained Migrant Workers in Malaysian Crackdown Tops 5,000
Bangladeshis and Indonesians topped an updated list of detained undocumented workers as Malaysian authorities announced Wednesday that they had swept up more than 5,000 foreigners in a crackdown on illegal immigration since July 1.
— Malaysia Sun (media release)
Japan vows to strengthen partnership with ASEAN
Japan has called for a stronger partnership with ASEAN, not only in economic matters but also in political, security and cultural affairs, as the Southeast Asian regional grouping turns 50 this year.
— The Jakarta Post
ASEAN must stay out of great-power tussles in Asia
The post-Cold War 1990s were a peaceful era in Asia. All the great powers were benign and the Sino-U.S. relationship was good. China still needed help from other countries, including ASEAN members.
— Nikkei Asian Review
Cambodia Morning News
Compiled by Sreypov Men @MenSreypov
Tax Revenue Nets $1.2 Billion in the First Half of the Year
Cambodia collected $265 million more in tax revenue so far this year than it did in the same period last year, which experts attributed to improvements to the country’s tax collection system.
— The Cambodia Daily (paywall)
Police monitor Facebook posts to look for ill-intent elements
Cambodian police are monitoring Facebook to look for elements attempting to create a “rebel movement against the government” through negative posts, The Phnom Penh Post Online reported on Tuesday (July 25).
— Thai PBS
Vietnam rubber firm reaches accord with Ratanakkiri ethnic villages
In an agreement mediated by the International Finance Corporation’s watchdog mechanism, a controversial Vietnamese rubber firm has reached a deal with 11 ethnic minority villages affected by its Ratanakkiri operations to return nearly 20 community “spirit mountains”, restore streams filled or polluted by its activities and repair roads and bridges.
— The Phnom Penh Post
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Government to revoke Freeport license over failure to build smelter
Indonesias Energy and Mineral Resources Ministry would revoke the concentrate export license for PT Freeport Indonesia, if the giant mining company failed to finish the construction of the mineral smelter facility within five years.
— Antara News
Indonesian parliament passes law to chase tax evaders overseas
Indonesia moved a step closer to hunting down tens of billions of dollars it believes its citizens have hidden abroad after passing a law that will give tax officials access to financial data held by other countries.
— BusinessWorld Online
Investment grows 12.7 percent in Q2: Investment board
The Investment Coordinating Board (BKPM) says investment grew 12.7 percent to Rp 170.9 trillion (US$12.85 billion) in the second quarter of 2017 from the Rp 151.6 trillion in the same period last year.
— The Jakarta Post
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Sreypov Men @MenSreypov
Benefits flow as nation, World Bank join hands on water management
The World Bank has approved more than 207.2 billion kip (US$25 million) of additional financing for the Mekong Integrated Water Resource Management Project (MIWRM) in Laos.
— Vientiane Times
Vietnam, Laos step up defence cooperation
Leaders of the Vietnamese Ministry of Defence always create favourable conditions for cooperation between the general technical departments of Vietnamese and Lao people’s armies, a senior officer has said.
— Nhan Dan Online
Leaders in Xayaboury return surplus autos in line with Prime Minister’s Decree
Four four-wheel drive vehicles of the leadership of Xayaboury province have been withdrawn as part of efforts to implement the Prime Minister’s Decree No 15 issued earlier this year to limit the number of cars for use by leaders.
— Vientiane Times
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Leakhena Khat @leakhenakhat
Malaysia’s electricity tariffs among lowest in Asean
Malaysia’s electricity tariffs for the consumer, residential, industrial and commercial segments are among the lowest compared to other countries in the Association of South-East Asian Nations (ASEAN) region.
— The Borneo Post
Malaysia to produce three million tonnes of fish by 2020
The Fisheries Department is confident that Malaysia can produce three million tonnes of fish by 2020.
— Astro Awani
Bursa Malaysia’s 2Q pre-tax profit jumps to RM81.45 million
Bursa Malaysia Bhd recorded a higher pre-tax profit of RM81.45 million for the second quarter (Q2) ended June 30, 2017 compared with RM69.437 million in the same quarter last year on the back of increased trading activities across all segments.
— The Borneo Post
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Myanmar Morning News
Compiled by Cara Navarro @cara_nav
Warning issued over outbreak of swine flu in Myanmar
UK travellers to Myanmar (Burma) should contact their doctor before travelling following an outbreak of deadly swine flu in the Asian country.
– Travel Weekly
MIC announces housing and industrial projects
The Myanmar Investment Commission (MIC) announced a national low-cost housing construction project and industrial land building project.
– The Myanmar Times
Pyidaungsu Hluttaw approves tax exemptions for mineral commodities
New executive members for the Central Bank of Myanmar (CBM) were unanimously approved, and tax exemptions for special commodities such as imported diamonds and emeralds were discussed during yesterday’s session of the Pyidaungsu Hluttaw in Nya Pyi Taw.
– Global New Light of Myanmar
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Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Philippines to remain fastest growing economy in region: Fitch
The Philippines will likely remain the fastest growing economy in Southeast Asia for the next five years, Fitch Ratings said in its report “Asia Pacific Sovereign Overview 3Q17” released on July 25.
— ABS-CBN
Duterte renews his anti-West, pro-China views
Philippine President Rodrigo Duterte delivered his second State of the Nation Address (SONA) with characteristic fire, lashing out at his critics and vowing to continue his brutal crackdown on illegal drugs despite widespread international condemnation.
— Asia Times
‘Philippines not giving up territory to China’
The Philippines will not lose even a “single inch” of territory to China if ever it proceeds with its joint exploration deal with the Asian giant, which is claiming almost the entire South China Sea.
— The Philippine Star
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Singapore’s manufacturing output jumps 13.1% in June
Singapore’s manufacturing output rose 13.1 per cent year-on-year in June, the 11th straight month of growth, according to data released by the Singapore Economic Development Board (EDB) on Wednesday (Jul 26).
— Channel NewsAsia
Amazon Prime Now lands in Singapore app stores
E-commerce giant Amazon launched its Prime Now service in Singapore on Wednesday night (Jul 26), making its app available via the country’s iTunes and Google Play stores.
— Channel NewsAsia
Singapore and Hong Kong’s Airport Dominance Is Under Threat
For decades, Singapore and Hong Kong have reigned supreme: as key transit points connecting travelers in Asia to and from the rest of the world. But now, a $1 trillion global airport spree is threatening the status quo.
— Bloomberg
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
PM concerned with heavy rains from Sonca depression
Prime Minister Prayut Chan-ocha has expressed concern over heavy rains in northern and northeastern provinces and ordered authorities concerned to be on the alert to rush aid to people affected by flash flood or mud slide.
— Thai PBS
Dam gates to be opened amid heavy rains
WITH TROPICAL depression Sonca looming and heavy rainfall expected, the Royal Irrigation Department has ordered water released from 11 major dams in the North, Northeast and Central region. There is a possibility of flooding in Ang Thong and Ayutthaya.
— The Nation
Defense Ministry starts preparations for possible floods
The Defense Ministry has begun preparations to handle any floods and related disasters to ensure timely assistance.
— NNT
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Cara Navarro @cara_nav
Lotte to develop $885mn smart city in Saigon
South Korean conglomerate Lotte is poised to develop a multimillion-dollar real estate complex in the Thu Thiem New Urban Area in District 2, Ho Chi Minh City.
– Tuoi Tre News
Vietnam’s fuel imports may drop as Dung Quat oil refinery tax cut finally felt
Vietnam’s fuel imports may drop as the effects of a tax cut on sales of gasoline and diesel fuel from the country’s Dung Quat oil refinery start to be felt as earlier term contracts expire.
– VnExpress
Export targets 200 billion USD under the impacts of FTAs
The growth rate of export in the first half of the year has been very high with an increase of 18.8% in comparison to the same period of last year.
– Hanoitimes
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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