Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Singapore Tops First Asia-Pacific University Rankings: Malaysia Rising
Five Asean countries are represented in the first edition of the Times Higher Education (THE) Asia-Pacific University Rankings, with Singapore taking the first (and fifth) spot for the entire Asia-Pacific region. Asean’s third highest ranked university is Thailand’s Mahidol University (MU), while Malaysia is making its presence felt with seven universities listed in the top 800.
— AEC News Today
Asean markets cautious after Fed minutes; Philippines, Indonesia up
Southeast Asian markets trod with caution on Thursday after minutes from the U.S. Federal Reserve’s last meeting showed policymakers were split on the outlook for inflation and how it might affect the future pace of interestrate rises.
— The Star Online
PHL, Vietnam rising as Asean’s new car hubs
TO get a taste of Southeast Asia’s burgeoning 600 million-strong consumer base and what it means for economic growth, take a look at the car industry.
— Business Mirror
Malaysia and Thailand threaten to take Singapore’s healthcare crown
Singapore has long enjoyed a reputation as the ASEAN region’s premier healthcare destination. Bloomberg regularly lists the city state as having one of the world’s most efficient systems. There were about 850,000 medical tourists in Singapore in 2012. This generated S$1.1 billion (US$1.4 billion) in receipts and contributed 5% to the country’s total tourism receipts.
— Asean Today
Most elephants used in tourism industry in Asia are in poor conditions: WAP report
Most of the over 2,900 captive elephants in Asian tourism industry are kept in poor or unacceptable conditions, animal rights body World Animal Protection said in a report on Thursday.
— Thai PBS
ASEAN Literary Festival to bring influential writers to Jakarta
Influential writers from Southeast Asian nations are set to participate in The 4th ASEAN Literary Festival, themed “Beyond Imagination”, to be held in Kota Tua, West Jakarta, from Aug. 3-6, which coincides with the regional bloc’s 50th anniversary this year. Among those slated to participate in the event are Malaysian writer Faisal Tehrani and Indonesia’s own Ahmad Fuadi and Martin Aleida, the latter of whom recently won the 2017 Kompas Best Short Story Award.
— The Jakarta Post
8 ASEAN consumer myths debunked
The ASEAN region is now the sixth-largest economy in the world, and the second largest destination for foreign direct investment. But many are still trying to capture these markets with less than expected knowledge about the many cities and regions that comprise this archipelago.
— Marketing Interactive
Japan’s private sector ‘has key role in region’s economic integration’
Japan’s private sector has an important role to play in developing economic integration in the region, Asean Secretary-General Le Luong Minh said yesterday.
— The Straits Times
Brand growth comes from ASEAN’s sub-regions
If the Association of Southeast Asian Nations (ASEAN) was treated as a single entity, it would rank as the sixth largest economy in the world, attracting huge foreign direct investment, but a new report argues there are eight myths about the region that need to be dispelled.
— Warc
Bank Mandiri to expand in Malaysia as first ‘ASEAN bank’
Bank Mandiri will expand operations in Malaysia by using its newly awarded status as a cross-regional lender, Indonesia’s largest state-owned bank said Thursday.
— Nikkei Asian Review
Bangladesh, Thailand FMs meet in two decades for ‘milestone’ in relations
The foreign ministers of Bangladesh and Thailand have termed the Seventh Joint Commission of the two countries a ‘major milestone’ in bilateral relations.
— Bangladesh News
Cambodia Morning News
Compiled by Leakhena Khat @leakhenakhat
Cambodia ‘Needs 1 Million More Homes By 2030’
Cambodia needs to build some 1 million more homes by 2030 in order to meet the demands of a booming population, a minister has said.
— VOA Cambodia
Dry port, warehouse unveiled at Kandal SEZ
A $20 million dry port and bonded warehouse within the Sovannaphum special economic zone (SEZ) in Kandal province is slated to open by October of this year ahead of the full completion of the 214-hectare zone by 2020, a senior management official said yesterday.
— The Phnom Penh Post
CAMBODIA DEPORTS 74 CHINESE OVER ALLEGED INTERNET SCAM
Cambodia has deported more than 70 Chinese citizens accused of defrauding people back home in an internet scam.
— Khaosod English
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Indonesia Proposes to Raise 2017 Budget Deficit to Close to Legal Limit
Indonesia’s government has proposed to parliament to hike 2017 spending and cut the revenue target, resulting in a wider budget deficit that almost reaches the legal limit, according to a government document.
— Jakarta Globe
IFC extends $150m debt facility to Indonesia Infrastructure Finance
International Finance Corporation (IFC), the private lending arm of the World Bank, will inject a debt package of $150 million into Indonesia Infrastructure Finance (IIF), a Jakarta-based investment company for infrastructure projects.
— Deal Street Asia
Indonesia’s Bank Mandiri to start operations in Malaysia by year-end
Indonesia’s largest bank by asset size, PT Bank Mandiri Tbk, will start its banking operations in Malaysia by year-end, making it the first Indonesian bank to carry out full-fledged banking activities in the country.
— The Star Online
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Cara Navarro @cara_nav
Laos Expects to Have 100 Hydropower Plants by 2020
Laos has expected to operate 100 hydropower plants with combined installed generation capacity of 28,000 MW and annual power output of about 77,000 million KWh by 2020.
– Lao News Agency
Laos, China reaffirm links, consolidate connectivity as cooperation commission meets
Laos and China have pledged to further promote their cooperation in economic, trade and technical assistance matters, a meeting of representatives of the two sides heard in the capital yesterday.
– Vientiane Times
Laos, China Promote Domestic Use of Biogas
Laos and China have shared lessons exchanging ways to promote the technical production of biogas in households aiming to reduce gas imports.
– Lao News Agency
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Leakhena Khat @leakhenakhat
Report: Malaysia’s cybersecurity is third best globally
Malaysia is ranked third among 193 countries in terms of its commitment to cybersecurity, according to the Global Cybersecurity Index (GCI) 2017.
— The Star Online
Tourism Tax: Special Incentives For Local Travel Agencies
The government has agreed to provide special incentives to local travel agencies to prevent contract cancellation arising from the introduction of the tourism tax on July 1, said Malaysian Inbound Tourism Association (MITA) president Uzaidi Udanis.
— Malaysian Digest
Report: Malaysian involved in RM19 billion forex scam in China
A Malaysian man is said to have been involved in a large-scale forex investment scheme which is believed to have received some RM19 billion from 400,000 investors in China within six months, China Press reported.
— Free Malaysia Today
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Myanmar Morning News
Compiled by Cara Navarro @cara_nav
State capital and major city in Chin State embrace industrial zones
Industrial zones will be built in two major cities in Chin State – Hakha and Paletwa, and local and foreign investment will be welcome, according to a state minister.
– The Myanmar Times
Myanmar Tycoon Says Economy Neglected by Suu Kyi’s Government
Myanmar tycoon Serge Pun, one of the wealthiest men in Asia, said on Thursday the government led by Aung San Suu Kyi has neglected the nation’s much-needed economic reform.
– The New York Times (paywall)
Bringing the power
The private sector has a key role to play in meeting Myanmar’s power needs but a lack of policy clarity and difficulty attaining sovereign guarantees has held back investment.
– Frontier Myanmar
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Government issues tender for 250,000 tons of imported rice
THE STATE grains buyer issued on Thursday an international tender to buy 250,000 tons of 25% broken long grain white rice, rushing to boost thinning government stockpile.
— BusinessWorld Online
Infra, capital spending surges 31.4% in May
Infrastructure and other capital spending rose sharply in May mainly on priority public works projects and the modernization of the armed forces, the Department of Budget and Management (DBM) said on Thursday.
— The Manila Times
Philippine banks in better shape 20 years after Asian crisis — S&P
RAPID CREDIT growth in the Philippines is unlikely to trigger a domestic funding crunch, as it comes alongside upbeat economic activity and as banks stand better positioned 20 years after the Asian Financial Crisis, analysts at S&P Global Ratings said.
— BusinessWorld Online
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Broadband firm MyRepublic plans IPO by 2018-end
Singapore-based broadband services provider MyRepublic plans to launch an initial public offering (IPO) by the end of 2018 and is in the process of raising a S$100 million ($72.2 million) pre-IPO round.
— DealStreetAsia
Singapore Luxury Home Prices Show Recovery Signs, Developer Says
Singapore’s luxury home prices, which have been the worst hit by the government’s property curbs in recent years, are finally showing signs of a recovery, according to developer Guocoland Ltd.
— Bloomberg
MSIG, DBS launch Singapore’s first instant travel claims payment service
MSIG Insurance and DBS Bank have launched Singapore’s first instant electronic payment service for travel insurance claims. MSIG is the first to tap the DBS’s real-time payment service, using technology to focus on initiatives that will improve customer experience.
— The Business Times
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
Bt700-bn EEC projects get the nod
PROJECTS SIMILAR to the Eastern Economic Corridor (EEC) will be built in other regions of the country as part of government attempts to get Thailand out of the “middle-income trap”, Prime Minister Prayut Chan-o-cha said yesterday.
— The Nation
High-speed train project clears EIA
The National Environment Board (NEB) has approved the first phase of the high-speed train project from Bangkok to Chiang Mai.
— Bangkok Post
Policy interest rate maintained at 1 5% a year
The Monetary Policy Committee has agreed to maintain the policy interest rate at 1.50% a year to help the Thai economy to expand continuously. The Thai economy has a tendency to grow further from export growth as well as economic contributions from tourism and private consumption.
— NBT World (video)
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Cara Navarro @cara_nav
Vietnam’s growth forecast lowered by International Monetary Fund
Vietnam’s growth outlook has been cut to 6.3 percent this year, the International Monetary Fund (IMF) said Thursday, lowering its forecast from the previously projected 6.5 percent.
– VnExpress
PM orders plan for 2018 GDP growth of 6.4-6.8%
On the heels of Vietnam remaining in the club of nations recording 6 per cent GDP growth, Prime Minister Nguyen Xuan Phuc has ordered a plan for growth to reach 6.4-6.8 per cent in 2018.
– Vietnam EconomicTimes
Vietnam ranks bottom in Southeast Asia for cybersecurity: UN report
Vietnam’s cybersecurity has been ranked 101st out of 195 countries in the Global Security Index 2017 compiled by the U.N. International Telecommunication Union, while regional peers Singapore, Malaysia and Thailand made it into the top 20.
– VnExpress
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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