Asean Morning News
Compiled by AEC News Today @aecnewstoday
ADB Driving Supply Chain Finance For Asean SMEs
A new video by the Asian Development Bank (ADB) explains how Supply Chain Finance can boost small and medium size enterprise (SME) growth throughout the region.
— AEC News Today
Asean’s fight to keep manufacturing edge
The challenge facing Asean is clear – can this major manufacturing zone retain its competitive edge in the face of rapidly evolving technology and head-spinning change?
— The Straits Times
Maybank launches fintech sandbox
Malayan Banking Bhd (Maybank) has launched a regional collaborative financial technology (fintech) sandbox, in tandem with its aim to spur opportunities for start-ups and innovators to develop and test new ideas.
— The Star Online
Infrastructure: South Asia, ASEAN building infrastructure at unprecedented rate; here’s why they must do more
ASEAN and South Asia are building infrastructure at an unprecedented rate. Anyone who travels the capital cities of this region knows it for a fact. All this construction is transforming the city centres and areas of economic activity, and the lives of 2.4 billion people. It is also connecting people and businesses to opportunities, both within and beyond the region. But despite all the construction underway, ASEAN and South Asia have even more to build.
— Financial Express
Burma Will Join Asean Forest Cooperation Organization
The Union Parliament on Tuesday approved the signing of the regional agreement for the establishment of the Asean Forest Cooperation Organization (AFoCO), after President U Htin Kyaw put forward the proposal.
— The Irrawaddy
ASEAN must cooperate more to combat plastic waste: Minister
Indonesia has called on ASEAN countries to cooperate to reduce plastic waste in the sea.
— The Jakarta Post
Government to select national winners for ASTA
The Lao tourism sector is currently preparing to disseminate information to the public on how to classify sustainable operators for entry in the new Asean Sustainable Tourism Awards (ASTA).
— Eleven Myanmar
Merkel-Macron, Euro-doubters and the utility of comparative regional studies
Angela Merkel’s recent comment that the EU needs to effectively start focusing on itself, an undoubted prelude to a Merkel-Macron-led collaboration on deeper EU integration, is an opportunity to take stock of what the EU is and what it is not.
— World Politics Journal
Cambodia Morning News
Compiled by Paul Treacy @PaulTreacyPhoto
Bank services VAT seen as ‘inefficient’
Banking sector leaders have expressed concern over a new government decree that places additional fees on financial services, warning that the costs of what some have described as an “impractical and inefficient” tax would likely be passed along to consumers.
– The Phnom Penh Post
Acleda Bank reports $28M net profit in Q1
Aceleda Bank, Cambodia’s largest bank by assets, reported a net profit of $28.39 million in first quarter this year, down slightly from $30.19 million in the same period in 2016, according to the bank’s latest financial report.
– The Phnom Penh Post
Malaysia’s RHB Bank, AmBank in merger talks
Malaysian financial firms RHB Bank and AmBank Group have entered negotiations for a potential merger, according to media reports.
– The Phnom Penh Post
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Indonesia Morning News
Compiled by Leakhena Khat @leakhenakhat
Indonesia may lose 50,000 tourists because of Qatar crisis
The Indonesian government is predicting that the recent severing of ties between several Arab countries and Qatar would deal a blow to the archipelago’s tourism industry, with 50,000 expected tourists not showing up because of the crisis, a senior official said on Tuesday.
— The Jakarta Post
Indonesian Pertamina Defers Refinery Projects Over Funding
Indonesia’s state energy firm Pertamina plans to postpone upgrades at some of its refineries, including a joint project with Saudi Aramco, over financing concerns, said Rachmad Hardadi, director of megaprojects and petrochemicals at the Indonesian company.
— OilPrice
Dopper: Indonesia Special Forces Extreme Live Fire Training Video
You don’t get to be ranked Asia-Pacific’s number one military might by sitting back and watching the rice grow. Indonesia’s well-equipped land, sea, and air force is complimented by formidable special forces troops who undergo rigorous training, including with live ammunition.
– AEC News Today
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Lao PDR Morning News
Compiled by Paul Treacy @PaulTreacyPhoto
Concerned groups condemn Laos’ planned Pak Beng dam
A damning review of plans for the controversial Pak Beng hydropower dam on the Mekong River in Laos was released this week by US-based advocacy group International Rivers, adding weight to calls for the project to be halted until new impact assessment studies are completed.
— Eco-Business
Lao Health Officials Shut Down Clinic Suspected of Providing Illegal Surrogacy Services
Lao officials have ordered a clinic in the capital Vientiane to shut down amid indications that it is using Thai women to provide illegal surrogacy services to infertile couples, an official from the Lao Ministry of Public Health said.
— Radio Free Asia
Chinese-invested bank injects vitality for development of SMEs in Laos
As the Belt and Road Initiative has advanced, the Laos-China Bank (LCNB) has been providing practical services to help small and medium-sized enterprises (SMEs) in Laos solve their financing problems and injecting vitality into the development of Lao enterprises.
— Xinhua
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Malaysia Morning News
Compiled by Cara Navarro @cara_nav
Upward GDP Revision By World Bank Affirms Malaysia Can Become Developed Nation By 2020
The upward revision of Malaysia’s gross domestic product (GDP) by the World Bank affirmed that Malaysia can achieve its target to become a developed nation by 2020 if the economy continues to register the same rapid growth.
– Malaysian Digest
Malaysia to begin tourism tax on Aug 1
Malaysia will begin a tourism tax on Aug 1, the Customs Department announced on Tuesday (June 6).
– The Straits Times
Bank Negara approves four fintech firms to operate within ‘regulatory sandbox’
Malaysian central bank and financial sector regulator Bank Negara Malaysia has taken one step further to grow its fintech sector as the central bank approved four firms as participants in “Regulatory Sandbox“ last week.
– Deal Street Asia
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Myanmar Morning News
Compiled by Leakhena Khat @leakhenakhat
Bintai Kinden bags RM74.5m job in Myanmar
Bintai Kinden Corp Bhd has bagged a US$17.5 million (RM74.5 million) deal in Myanmar to undertake air-conditioning and fire protection installation work.
— The Edge Markets MY
Global Connectivity report reveals Myanmar has region’s slowest Internet
A report by Huawei has revealed that Myanmar has the lowest bandwidth and slowest Internet in the region. The Chinese telecom giant’s Global Connectivity Index 2017 ranks countries according to bandwidth and Internet infrastructure.
— Eleven Myanmar
Myanmar Journalists Band Together to Fight Law Used to Attack Press Freedom
More than 100 Myanmar journalists gathered on Tuesday in Yangon to call on the government to drop lawsuits filed against reporters under controversial Article 66(d) of the country’s Telecommunications Law frequently used by those in powerful positions to silence their critics.
— Radio Free Asia
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Philippines Morning News
Compiled by Paul Treacy @PaulTreacyPhoto
Philippines halts workers’ deployment to Qatar
The Philippines on Tuesday halted the deployment of workers to Qatar as the gas-rich Gulf state grappled with a diplomatic crisis after its neighbours cut ties with Doha.
— The Daily Star
ECOP pushes for 10-day ‘must’ leave for small firms’ workers
The Employers Confederation of the Philippines (ECOP) on Tuesday pushed for the inclusion in House Bill 5067 of a mandatory ten-day service incentive leaves for the employees of small enterprises.
– The Manila Times
BPI probing reports of unauthorized withdrawals in accounts
The Bank of the Philippines Islands (BPI) is investigating reports of unauthorized withdrawals in accounts.
— CNN Philippines
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Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Every Singaporean plays role in fighting corruption: PM Lee
Every Singaporean has a role to play in fighting corruption, Prime Minister Lee Hsien Loong said on Tuesday (Jun 6), during the opening of the Corruption Reporting and Heritage Centre (CRHC) which allows members of the public to walk in and report suspected corrupt practices in person.
— Channel NewsAsia
Singapore business confidence for Q3 up, but shaky
BUSINESS confidence in Singapore improved for a second straight quarter, but sentiment is still shaky among certain sectors, a private-sector survey has found.
— The Business Times
Singapore to boost status as a food and nutrition powerhouse
Increasing high-tech jobs, boosting exports and helping home-grown brands soar are among the priorities for Singapore as it seeks to cement its status as South East Asia’s premier food industry hub.
FoodNavigator-Asia (VDO)
See here for more of today’s Singapore Morning News >>>
Thailand Morning News
Compiled by John Le Fevre @photo_journ
Economy to grow more strongly in H2: JSCCIB
GROSS DOMESTIC product in the latter half of this year is expected to grow more strongly than in the first half, driven by seasonal factors, accelerated state spending, increased foreign purchase orders and more activity in the Eastern Economic Corridor (EEC), said the Joint Standing Committee on Commerce, Industry and Banking.
– The Nation
Firms jittery as baht keeps rising
The Thai business sector has voiced concern that the rapid gain of the baht will take a toll on exports, causing the economic recovery to falter, says the Thai Chamber of Commerce (TCC).
– Bangkok Post
A new industrial vision for Thailand?
Thailand’s National Economic Social Development Board (NESDB) started its search several years ago for a new Eastern Seaboard, the industrial corridor along the country’s eastern coastline that is arguably the public sector’s sole large infrastructure success story.
– Asia Times
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Vietnam Morning News
Compiled by Cara Navarro @cara_nav
Vietnam to miss 2017 growth target: WB
The World Bank (WB) released its Global Economic Prospects report on June 4, forecasting a global 2017 economic growth rate of 2.7 percent and a Vietnamese growth rate of 6.3 percent, lower than the 6.7 percent goal set by the government.
– VietnamNet
Vietnam’s export turnover hits $79.3 billion in five months
Vietnam exported about 79.3 billion USD worth of commodities in the first five months of 2017, an increase of 17.4 percent from the same period last year.
– VietnamNet
New policies take effect in Vietnam in June
A string of new government policies come into force in June, including the exemption of land use fees for housing projects, specific financial mechanisms for HCM City, increased fees for medical examination and treatment for the insured and reduction of social insurance premiums.
– TalkVietnam
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.
Asean Morning News For June 7 added by Stella-maris Ewudolu on
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Stella-maris Ewudolu
Between November 2010 and February 2012 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. From 2010 – 2017 she worked as a freelance screen writer for ‘Nollywood’, Nigeria.
She joined AEC News Today in December 2016.
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