Asean Morning News For October 5

Asean Morning News For October 5

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


ASEAN PMI dips to 50.3 in September
Growth is slow but it’s coming for ASEAN countries after the overall manufacturing Purchasing Managers’ Index (PMI) dipped from 50.4 to 50.3 in September.
Singapore Business

World Bank sees more currency risk in S-E Asia
Malaysia, and to a lesser degree Indonesia, Thailand and the Philippines, remain more exposed to exchange rate risk than other developing economies in East Asia and the Pacific as global financial conditions tighten, the World Bank said.
Business Times

2ND Annual ASEAN Solar + Energy Storage Congress & Expo 2017 will be held in Philippines in November
2nd Annual ASEAN Solar+ Energy Storage Congress & Expo 2017 is the largest congress focusing on solar and energy storage market in ASEAN. It will take place in Manila, the capital of Philippines, on November 14-15, 2017.

Global electric shock has lessons for Southeast Asia
Southeast Asia is at the forefront of a global energy-market transformation that is outpacing even the most ambitious predictions. In the last few days, a report from analyst Wood Mackenzie stated that the ASEAN nations will need to , at a cost of more than US$500 billion.
Mena FN

PM vows to foster ASEAN-India strategic ties
As a close friend of India and the current co-ordinator ASEAN-India ties, Việt Nam will spare no effort to foster strategic partnership between the two sides, Prime Minister Nguyễn Xuân Phúc said yesterday.
Viet Nam News

Cyberattacks rising in bustling Asean
Companies in fast growing economies of Southeast Asia are among the most vulnerable in the world to computer hackers, where successful attacks could spell problems for their businesses and their millions of customers.
Philippine Daily Inquirer

WB urges deeper Asean links amid growth risks
THE World Bank sees Thailand’s economic growth trending just shy of 4 per cent over the coming years, but warns of threats in the form of regional security issues and trade protectionism.
The Nation

ASEAN’s Infrastructure Test
As the Association of Southeast Asian Nations turns 50, there are several accomplishments it can be proud of. However, when it comes to infrastructure development—particularly cross-border projects—the region’s record is far from stellar, despite the many benefits it will bring, economic and otherwise.
Brink News

Mysterious yet effective Asean
Fifty years is a long time to be a mystery, but that is what Asean is to most of its 640 million peoples.
The Straits Times

Asian nations urged to curb Daesh at its roots
Daesh must be countered at its inception and the conflict in the Philippine city of Marawi is an “eye opener” from which other countries should learn how to defeat violent extremism, a senior adviser to President Rodrigo Duterte has told Arab News.
Arab News

Boom times crowd Southeast Asian skies
Southeast Asia is expected to buy 10% of the world’s new jets over the next two decades, at a time when regional airports are already buckling under the strain of record flight volumes.
Asia Times

ASEAN youth get a taste of regional consensus-building at weeklong meet
The meeting starts to get heated. Voices begin to rise. The back-and-forth among those present, unhurried just moments ago, quickens with impatience.
Myanmar Times


Cambodia morning newsCambodia Morning News

Compiled by Kongleaphy Keam    @kongleaphy1


Cambodia To Target Foreigners With Irregular Documents
Following hot on the heals of a crackdown on endless business visa extensions (See: Axe Falls on Endless Cambodia Visa Extensions) Cambodia’s Department of Immigration (DOI) is set to launch a concerted crackdown on foreigners living in the kingdom with “irregular documents”.
AEC News Today

Economy still on track: World Bank
Despite better than predicted overall growth for global economies, the World Bank has slightly downgraded its 2017 forecast for Cambodia due to wage and price concerns in the Kingdom’s the garment industry as well as uncertainty surrounding next year’s national election.
The Phnom Penh Post

Database of Kingdom startups ready for launch
Startup Cambodia, a collaborative platform set to officially launch next month, aims to create a comprehensive and accessible database of Cambodia’s startup companies to help entrepreneurs tap into early-stage funding, a spokesman for the company spearheading the project said yesterday.
The Phnom Penh Post

See here for more of today’s Cambodia Morning News


Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


External Conditions Influence Weakening of Rupiah
The weakening of the rupiah, which once touched IDR13,500 per US dollar, is said to be influenced more by external conditions and is temporary.
— Netral News

Indonesia has opportunity to benefit from soft commodities: Jokowi
President Joko “Jokowi” Widodo has said that as a country that produces commodities such as coffee, chocolate, coconut and spices, Indonesia has the opportunity to benefit from the increasing demand of the soft commodities offered by lifestyle businesses.
— The Jakarta Post

Government set to launch market operation on medium quality rice
The government has prepared to launch market operation on medium quality rice following the declining supply of the commodity, especially in Cipinang Wholesale Rice Market.
— Antara News

See here for more of today’s Indonesia Morning News


Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat


Laos’ Growth Projected to Moderate to 6.7 %, Says World Bank
Laos’ economic growth is projected to further moderate to 6.7 percent in 2017 as strong exports are weighed down by slowdown in investment, weaker tourism and stronger controls over government spending, World Bank said in its October 2017 edition of the “East Asia and Pacific Economic Update”
Lao News Agency 

ADB Funds to Scale Up Sanitary, Phytosanitary Efforts in Lao PDR
The Asian Development Bank’s (ADB) Board of Directors has approved a $10 million grant to the Lao People’s Democratic Republic (Lao PDR) as additional financing to scale up efforts to improve food safety and ensure plant and animal health, as part of an initiative to improve sanitary and phytosanitary (SPS) capacity in the country.

PDI plans investments in two Lao hydropower plants
Padaeng Industry Public Co Ltd (PDI) plans to further expand its capacity to generate renewable energy by signing a memorandum of understanding to jointly invest in two hydropower plants in Laos with a total capacity of 114 megawatts.
The Nation

See here for more of today’s Lao Morning News


Malaysia morning newsMalaysia Morning News

Compiled by Kongleaphy Keam    @kongleaphy1


World Bank revises Malaysia’s 2017 GDP upwards to 5.2pc
The World Bank has revised Malaysia’s Gross Domestic Product (GDP) growth forecast upwards for this year to 5.2 per cent from 4.9 per cent in June, on the back of a much stronger-than-expected actual growth of 5.7 per cent in the first half of 2017.
New Striats Times

Malaysia moves up seven notches in Economic Freedom report
Malaysia has edged up seven places to rank 65 among 159 countries in 2015, according to the recently-published Economic Freedom of The World Report 2017 (EFW), compared to 72nd placing in 2014.
The Star Online

Pre-election budget almost a certainty for Malaysia
ONE thing is almost certain about Malaysia’s 2018 budget: with only 8-9 months left before the 13th Parliament is automatically dissolved, the fiscal blueprint is invariably going to be a pre-election budget geared to boost sentiment at the polls.
The Edge Markets

See here for more of today’s Malaysia Morning News


Myanmar morning newsMyanmar Morning News

Compiled by Sreypov Men    @MenSreypov


Local investments in property sector the highest
Total investments by Myanmar citizens in 11 business sectors until September exceeded Ks14,659 billion, with the property sector topping the list.
— Eleven Myanmar

Budget deficit for 2017-18 rises to K4 trillion
The budget deficit for the 2017-18 fiscal year is expected to be around K4 trillion, President U Htin Kyaw said at the Finance Commission meeting held in Nay Pyi Taw on October 2.
— Myanmar Times

Aid groups seek US$434 million to help up to 1.2 million Rohingya Muslims fleeing Myanmar
Humanitarian organisations helping Rohingya Muslim refugees in Bangladesh said on Wednesday they need US$434 million over the next six months to help up to 1.2 million people, many of them children, who need life-saving help.
— Channel NewsAsia

See here for more of today’s Myanmar Morning News


Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


World Bank cuts PH growth forecast to 6.6%
The World Bank has once again cut its 2017 growth forecast for the Philippines, citing delays in the implementation of the government’s “Build Build Build” program.
The Manila Times 

Remittances seen rising 23% to $33 B this year
The flow of remittances to the Philippines is seen to further grow by 23 percent and eclipse last year’s record, making it the third largest remittance volume worldwide this year, the World Bank said in a report.

Tourism receipts up 15% in H1
Tourism receipts grew 14.89 percent in the first six months of the year, driven by higher tourist arrivals, the Department of Tourism (DOT) said.

See here for more of today’s Philippines Morning News


Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat @leakhenakhat


Google partners Singtel to bring Pixel smartphone to Singapore
Google will for the first time launch its Pixel smartphone in Singapore – making it the first Southeast Asian market to have the device.
Channel NewsAsia 

Singapore, Thailand discuss e-payment alliance for digital push
Singapore and Thailand are in discussions about connecting their national digital payment systems to forge an unprecedented regional alliance, as officials step up efforts to curb the use of cash.
The Business Times 

OCBC’s business customers will be able to transfer funds by talking to Siri
Singapore’s Smart Nation push saw a new development with OCBC Bank tapping Apple’s Siri virtual assistant to allow businesses to transfer funds just by speaking to their Apple iPhone.
The New Paper 

See here for more of today’s Singapore Morning News


Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ


Thai baht to remain volatile pending US monetary policies
Volatility in the Thai baht is expected to continue, pending monetary policies of the United States.
— NBT World (video)

US to resume selling weapons to Thailand: Deputy junta head
The deputy junta head has announced that the US has agreed to resume selling weapons to the Thai government.
— Prachatai English

JSCCIB raises view for GDP growth to 3.7-4%
THE Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has raised its forecast for economic expansion this year to 3.7-4 per cent from an earlier estimate at 3.5-4 per cent, citing higher-than-expected growth in exports and tourism.
— The Nation

See here for more of today’s Thailand Morning News


Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov


VNPT aims to complete IPO in 2019
Vietnamese state-run operator VNPT plans to conduct its scheduled IPO in 2019, in line with the government’s instruction to complete an equitization process by this time.

Vietnam picks UBS, Saigon Securities as advisors for Vinamilk’s 3.3% sale
Vietnam has hired Swiss financial services firm UBS AG and Saigon Securities Inc (SSI) as advisors for the next stake sale of its biggest listed business, dairy firm Vinamilk.
— DealStreetAsia

Vietnam’s fertilizer import turnovers up 17.8 percent in January-September
Vietnam spent 964 million U.S. dollars importing over 3.6 million tons of fertilizers between January and September, posting respective year-on-year increases of 21 percent and 17.8 percent.
— Xinhua

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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