Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
ASEAN’s manufacturing index comes in flat as demand wanes
After five months of expansion, Southeast Asia’s manufacturing activity turned flat in June, with the Nikkei ASEAN Manufacturing Purchasing Managers’ Index standing at the boom-or-bust line of 50.
— Nikkei Asian Review
Thailand ranks 20th in global cybersecurity ranking
Thailand was at 20th in a global cybersecurity ranking while Singapore ranked first with a near-perfect approach to cybersecurity, a UN survey showed on Wednesday.
— Bangkok Post
ASEAN academics want India to play leadership role in improving connectivity, commerce and security
Amidst the aggressive and unpredictable behaviour of China, ASEAN nations want India to take and play leadership role in improving commerce, connectivity and security in the region.
— Web India 123
Why Philippine market matters most in ASEAN
FORGET mega-cities, or countries for that matter, if companies want to take part in ASEAN’s consumer growth story.
— BusinessWorld Online
Alvarez urges Asean lawmakers to emulate war on drugs
Speaker Pantaleon Alvarez on Wednesday urged Southeast Asian lawmakers to support antinarcotics campaigns like President Rodrigo Duterte’s war on drugs, as he expressed concern over the region becoming a major transshipment hub for illegal drugs.
— Inquirer.net
DSWD cites latest benefits of PH from ASEAN
CITY OF SAN FERNANDO, Pampanga, July 5 (PIA) — ASEAN secures the well being of all, and that is what the Socio-Cultural Community pillar is all about.
— Philippine Information Agency
Towards prosperous Asean MSMEs
When I am invited to speak in different forums and gatherings, I like to emphasize that the micro, small and medium enterprises are the backbone of the Philippine economy. Truth be told, that is a reality not only for our country, but also for many of our ASEAN brothers. In fact, the statistics read show MSMEs represent about 95 to 99 percent of ASEAN businesses, depending on which country you reside in.
— The Philippine Star
Sonowal urges ASEAN on AEP
Assam Chief Minister Sarbananda Sonowal stressed the importance of India’s ‘Act East’ policy and called for support from ASEAN to realize the growth potential of the State through close economic ties with the Southeast Asian Nations.
— E-Pao.net
Security detail for Asean delegates
WHETHER taking a coffee break or visiting a mall, delegates to the senior officers’ meeting of the Association of Southeast Asian Nations (Asean) have a security detail assigned to them at all times.
— Inquirer.net
Cambodia Morning News
Compiled by Leakhena Khat @leakhenakhat
Microlenders refuse to apply prescribed VAT
The industry body representing the Kingdom’s myriad microfinance institutions (MFIs) threw down the gauntlet yesterday, announcing that its members had categorically rejected a government directive that orders them to charge a value-added tax (VAT) on financial services fees and would not apply it.
— The Phnom Penh Post
Cambodia: Textiles, Tourism, and Technology Deliver Growth Consistently Above 7%
Cambodia is asserting itself as one of the fastest growing economies in Southeast Asia (AAXJ) (VPL) (IPAC). A sustained influx of real estate development projects led by both local and regional firms show the country’s property market is emerging as the preferred sector for investors looking to gain an initial foothold.
— Frontera
Rice mogul spices up business with pepper
Cambodia rice mogul Song Saran, the CEO of one of the Kingdom’s top rice exporters, will diversify his agricultural business interests with the construction of a factory to clean and process locally grown pepper, he said yesterday.
— The Phnom Penh Post
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Indonesian Stock Market Looking Strong This Year, May Exceed Expectations: Analyst
Indonesia’s main stock market looks strong this year with analysts confident that the benchmark Jakarta Composite Index, or JCI, could exceed market expectations on the back of faster economic growth, a report by local brokerage firm Bahana Securities shows.
— Jakarta Globe
Indonesia’s oil regime needs an overhaul
Indonesia’s attempts to attract much-needed global investment to its oil and gas industry met a lukewarm international response in its latest tender round.
— Financial Times
All Indonesian returnees from Syria must undergo deradicalization program
All Indonesians returning from Syria must join a deradicalization program as required by the National Counter-terrorism Agency (BNPT), The Jakarta Post Online reported on Tuesday.
— Thai PBS
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Cara Navarro @cara_nav
Lao officials Learn about FDI Promotion Strategies
The Singapore Ministry of Foreign Affairs funded a three-week training course on “FDI Promotion Strategies and Enabling Private Sector Growth”for 26 Lao government officials from 26-30 June 2017.
– Lao News Agency
Ministry to order closure of foreign clinics
The Healthcare Department of the Ministry of Health will order the closure of foreign-owned clinics when their professional Lao medical licences expire this year.
– Vientiane Times
Nam Ngam basin attracting more to Xieng Khuang
More local and foreign tourists are expected to make a beeline for the Nam Ngam basin in central Xieng Khuang province following a 135-billion kip plan to beautify and clean its surroundings.
– Vientiane Times
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Leakhena Khat @leakhenakhat
By 2050, 65% Of M’sian Jobs Might Be Taken Over By Automation. Find Out If Its Your Job At Risk
On 20 June 2017, McDonalds recorded their highest ever share price in the stock market. The reason? Most investors fell in love with McDonalds’ plan to replace their cashiers in more than 2500 of their restaurants, with an automated digital kiosk.
— Malaysian Digest
Malaysia’s bauxite exports rise despite mining ban
A year and a half after banning bauxite mining to force miners to meet environmental standards, Malaysia’s exports to main customer China are again growing, raising public anger over illegal mining.
— The Malay Mail Online
Malaysia exports likely rose 22% in May: poll
Growth in Malaysia’s exports likely accelerated in May, supported by strong shipments in commodities and electrical and electronics products.
— MarketWatch
See here for more of today’s Malaysia Morning News
Myanmar Morning News
Compiled by Cara Navarro @cara_nav
Myanmar trade deficit reaches over US$1 B
Myanmar’s trade deficit has reached more than US$1 billion as imports have overtaken exports, according to Ministry of Commerce.
– Eleven Myanmar
Japanese businesses express no interest in Dawei or Kyaukphyu SEZ
Japanese businesses have not indicated any interest in Dawei SEZ or Kyaukphyu SEZ, and see the lack of reliable power supply as the biggest challenge in Myanmar, the chair of the Japanese Chamber said.
– The Myanmar Times
Yangon’s economy–the strength of the nation
Yangon Region is a place where most of the income of the nation earns.
– Global New Light of Myanmar
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
P800 M needed to rebuild 15 Marawi schools – Briones
Department of Education (DepEd) Secretary Leonor Briones said it will cost around P800 million to rebuild 15 Marawi City schools affected by the clash between government troops and the Maute terror group.
— Manila Bulletin
Aussie firm to donate 2,000 electric vehicles
In support of the government’s public utility vehicle (PUV) modernization program, an Australian firm said it will donate as many as 2,000 solar electric vehicles to transport groups in this city.
— Manila Bulletin
Petronas Dagangan to sell Philippines LPG business for US$124 million
Petronas Dagangan Berhad , the marketing and retailing arm of Malaysian state energy firm Petronas, on Wednesday said it has entered into an agreement to sell its liquefied petroleum gas (LPG) business in the Philippines for US$124 million.
— Free Malaysia Today
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Singaporeans are the most picky e-commerce customers in Southeast Asia
The latest study by the iPrice Group revealed that Singaporean consumers are amongst the hardest to impress especially for e-commerce players.
— Singapore Business Review
Singapore restoring reputation dented by 1MDB scandal, says MAS MD Menon
Ravi Menon, managing director of the Monetary Authority of Singapore, figures that the enforcement action taken against the banks and individuals found to have been involved in the international money laundering scandal surrounding 1Malaysia Development Bhd has helped restore Singapore’s reputation as a global financial centre.
— The Edge Markets
Singapore IPO activity this year poised to surpass 2016 levels
There was quite a number of successful Initial Public Offerings (IPO) in Singapore for the first half of the year, and this could spell a stellar overall IPO activity for 2017. According to the latest figures by PwC Singapore, IPOs for 1H17 raised US$329m.
— International Business Times
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
BOT raises economic growth forecast to 3.5%
THE BANK of Thailand (BOT) upgraded its forecast for the country’s economic growth to 3.5 per cent from 3.4 per cent and says it will continuing to monitor short-term fund flows that have caused the baht to appreciate.
— The Nation
Fisheries industry remains hardest hit by labour shortage
The fishery industry says the postponement of the foreign labour law will not help to resolve the acute shortage of foreign labour in the industry as now over 20,000 workers have returned homes since the law became effective.
— Thai PBS
Corruption lawsuit targets AoT, King Power
A lawsuit has been filed against 18 executives and officials of Airports of Thailand (AoT) and King Power Group, the country’s sole duty-free operator, for alleged malfeasance in connection with a duty free concession contract, allegedly causing damages of 14 billion baht.
— Bangkok Post
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Cara Navarro @cara_nav
Vietnam’s economic growth to out-tiger China by 2018: UBS report
Swiss investment bank UBS has forecast that Vietnam will marginally outpace China’s economic growth for the first time in 2018.
– VnExpress
Vietnam tourism earns US$11.17 billion in six months
Vietnam tourism reached approximately VND254,700 billion (US$11.17 billion) in six months, a 27 per cent increase over the same period last year.
– Hanoitimes
VN manufacturing PMI rebounds
The Vietnam Manufacturing Purchasing Managers’ Index (PMI) rose to 52.5 in June from a 14-month low of 51.6 in May, the latest survey from Nikkei’s IHS Markit showed on Monday.
– Viet Nam News Bizhub
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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