Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Trade-tension risks not hurting regional growth forecasts
AS TRADE tensions between the United States and China continue – more tariffs are due Friday – economists are putting numbers to the downside risks of a global trade war.
— The Business Times
Inside Alibaba Cloud’s Southeast Asia playbook
A laser focus on working with local partners and tailoring services to the needs of customers across industries has been key to the success of Alibaba Cloud in Southeast Asia, according to a top company executive.
— ComputerWeekly.com
Japan will deploy a helicopter carrier to the South China Sea and Indian Ocean. How will Beijing respond?
Japan will send a large helicopter carrier to the South China Sea and Indian Ocean for a second straight year as it looks to bolster its presence in the strategic maritime region with annual tours, two Japanese officials said.
— South China Morning Post
Asean ports to benefit from increased intra-regional trade
The expansion of intra-Asean trade will boost the capacity utilisation of ports in the region, said Johor Port Authority (JPA) General Manager Muhammad Razif Ahmad.
— The Sun Daily
Industry 4.0 in Asean: McKinsey
Manufacturers in developed markets are eager to explore the digital technologies covered by the ‘Industry 4.0’ label, but Asean firms have been slower to get onboard, says McKinsey in its report Industry 4.0: Reinvigorating ASEAN Manufacturing for the Future.
— The Business Times
Southeast Asia Diverges on Rate Policy as Currency Rout Deepens
Southeast Asia’s central bankers are taking diverging policy stances even as their economies get slammed by the same headwinds.
— The Edge Markets
Liberalising services in Asean
Services have an important role to play for inclusive growth and productivity in Asean, but service sectors in many member states are lagging behind those in peers elsewhere, argues the OECD in ‘Developing and liberalising services to boost productivity in Southeast Asia’, published in the 2018 edition of the OECD Investment Policy Reviews: Southeast Asia.
— The Business Times
Consumer trends in Indonesia and Thailand: McKinsey
A survey of consumers in Indonesia and Thailand has yielded insights that consumer goods companies would do well to heed when heading into these major markets, say McKinsey’s Kapil Joshi and Ali Potia in their article ‘Shaping the future of consumption in ASEAN’.
— The Business Times
The Battle for E-Wallet Supremacy in Southeast Asia
Across Southeast Asia, there is a fierce battle raging for e-wallet dominance. E-wallets, or digital or mobile wallets, are types of payment instruments that can be used to transact at physical locations and online.
— Brink Asia
EU, SEA judges to boost enforcement system vs. IP cases
Key members of the judiciary from Southeast Asia, including Filipino judge Romeo Tagra, met Wednesday at the European Union Intellectual Property Office (EUIPO) to share their respective state’s intellectual property (IP) enforcement measures.
— Philippines News Agency
Japan Ranked Best Country in Asia
According to a survey done in 80 countries Japan and Australia are the only Asia-Pacific countries that features in the top 10 best countries of the world.
— The Nation
ASEAN Automotive Outlook, 2018
Sustained economic growth and infrastructure development should drive ASEAN automotive market growth forecast to 2024. Thailand is expected to register the highest growth while Indonesia will continue to be the largest market.
— Markets Insider
Cambodia Morning News
Compiled by Sreypov Men @MenSreypov
Cambodia restores railway link to Thailand after 45 years
Cambodia on Wednesday (Jul 4) reopened the final stretch of a railway running from the capital Phnom Penh to the border with neighbouring Thailand, the first time the line has been operational in 45 years.
— Channel NewsAsia
Commerce Minister turns to Japan to improve local products
The Ministry of Commerce is seeking Japan’s help to improve products manufactured by small and medium enterprises in the Kingdom and bring them up to Japanese standards of quality.
— Khmer Times
Could a shrub be the solution to Cambodia’s plastic bag pandemic?
On average, Cambodians use five to ten plastic bags every day, contributing to a serious waste problem in the country. Kai Kuramoto, founder of Cleanbodia, is attempting to change that by introducing an alternative solution: a biodegradable bag made from cassava starch
— Southeast Asia Globe
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Escaping the middle income trap through Making Indonesia 4.0?
Much attention has been afforded to President Joko “Jokowi” Widodo’s recent launch of Making Indonesia 4.0, an industrial strategy that chiefly emphasizes harnessing technology to boost growth in tune with the digital era.
— The Jakarta Post
US$1.1b loan for Jakarta-Bandung railway project to be disbursed in July
China Development Bank (CDB) is planning to disburse US$1.1 billion in the second phase of construction for the Jakarta-Bandung high-speed railway project. The first phase, involving a loan of $170 million, took place in May.
— The Jakarta Post
Indonesia Extends Freeport’s Operating Permit for Grasberg
Operations at Freeport McMoRan’s (NYSE:FCX) Grasberg copper project in Indonesia have been allowed to continue while the Indonesian government negotiates a controlling stake in the mine.
— Investing News
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Sreypov Men @MenSreypov
Laos offers dam bonds
EDL-Generation Public Company, Laos’ electricity producer, has announced coupons for its baht-denominated bond offerings of up to Bt17.5 billion.
— The Nation
Vietnam’s exports to Laos up 9.8 percent in first five months
Vietnam’s export turnover to Laos rose by 9.87 percent to 244.6 million USD in the first five months of 2018, according to the General Statistics Office (GSO).
— VietnamPlus
At a glance: Taxes in Laos
Laos is one of the fastest growing economies in Asia, but remains heavily reliant on foreign direct investment.
— Business Times
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Sreypov Men @MenSreypov
Malaysia suspends construction of major Belt and Road rail project
The project owner of Malaysia’s US$20 billion East Coast Railway Link has told its main Chinese contractor to suspend work, both companies said on Wednesday (Jul 4), raising uncertainty about the future of part of China’s Belt and Road plan.
— Channel NewsAsia
Najib faces jail time after being charged in 1MDB case
Malaysian authorities have charged former leader Najib Razak with corruption and criminal breach of trust in connection with a multibillion-dollar scandal surrounding state fund 1MDB.
— The Asean Post
The Honesty Factor
Malaysia has dispensed with juries, meaning that concerns around issues of contempt and the potential for reporting to influence the outcome of trials are lessened.
— Sarawak Report
See here for more of today’s Malaysia Morning News
Myanmar Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
CMP garment’s export earnings up $ 382 m
Garment sector earned US$ 759.172 million from exports of CMP garment, up US$ 382 million from the same period last year, according to the Commerce Ministry.
— Eleven Myanmar
New virus discovered in Myanmar bats
A team of scientists have discovered a previously unknown virus in Myanmar, as well as another virus that has previously only been observed in Thailand.
— Coconuts Yangon
Investors, Businesses Losing Confidence In Myanmar’s Economy
Impatient with the sluggishness of the economy, local and foreign investors are losing confidence in the Myanmar government’s economic policies, according to a June 29 report on The Irrawaddy, an online news site focused on Myanmar.
— Investvine
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Philippines, ADB sign MoU on 7.1 bln USD lending pipeline for 2019 to 2021
The Philippines and the Asian Development Bank (ADB) have signed a memorandum of understanding (MoU) covering an indicative 7.1 billion US dollars sovereign lending program to the Philippines from 2019 to 2021, the Manila-based bank said on Wednesday.
— Global Times
Franchising to hit $24B in revenues by ’20
The Philippine franchising is set to become a $24-billion industry by 2020, a 32 percent jump from $18.1 billion from 2017.
— Malaya
Philippines pushes for “pragmatic direction” in RCEP deal
The Philippines is pushing for “pragmatic direction” in negotiating the Regional Comprehensive Economic Partnership (RCEP) deal, urging RCEP members to be more “realistic than idealistic,” said a press release by the Department of Trade and Industry of the Philippines on Wednesday.
— Xinhua
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by John Le Fevre @photo_journ
Singapore economy to grow 2.5-3.5% amidst trade frictions: MAS
Amidst risks arising from the global economy, Singapore’s economy is expected to remain on a steady expansion path in 2018 and overall GDP growth to hit 2.5-3.5% in 2018, Monetary Authority of Singapore (MAS) managing director Ravi Menon said.
— Singapore Business Review
$120m fund injection to make Singapore’s aviation industry more efficient and innovative
To accelerate plans to make Singapore’s aviation industry more efficient and innovative, another $120 million will be set aside to support various initiatives.
— The Straits Times
S’pore authorities investigating ‘certain individuals’ linked to 1MDB scandal: MAS chief
The Monetary Authority of Singapore (MAS) is scrutinising new information emerging from Malaysia and elsewhere on the 1MDB scandal, as investigations by Singapore authorities into individuals continue, said MAS managing director Ravi Menon on Wednesday (July 4).
— TodayOnline
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
King urges speedy rescue from cave
Navy Seals are urgently training 12 young footballers and their coach to use diving gear so they can venture out of the partially flooded Tham Luang cave in Chiang Rai’s Mae Sai district, where they have been trapped for 11 days.
— Bangkok Post
MPC outlines policy hike conditions
The Bank of Thailand’s rate-setting panel will start tightening monetary policy if economic expansion continues and inflation stays within its target range, said the Monetary Policy Committee (MPC) in recent years.
— Bangkok Post
Trapped Thai team gets diving lessons as rescuers weigh extraction
Rescue teams in northern Thailand were giving crash courses in swimming and diving on Wednesday as part of complex preparations to extract a young soccer team trapped in a cave, and hoping for a swift end to their harrowing 11-day ordeal.
— Channel NewsAsia
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Sreypov Men @MenSreypov
Transport and energy infrastructure key growth drivers in Vietnam
Vietnam’s economy grew 7.1 per cent in the first half of 2018, mainly driven by industry, construction and services – particularly wholesale and retail, transport, banking and finance, education and healthcare.
— Business Times
Four foreign investors lose opportunity at strategic stake in PV Oil
The government’s refusal to extend the deadline to look for strategic investors closes the gates for foreign investors looking for a strategic stake in Vietnam Oil Corporation (PV Oil).
— VietnamNet Bridge
Increase of Vietnamese exports to China in first half of 2018
Vietnam made 1.2 billion US dollars in revenue from the export of fruits and vegetables to China in the first half of this year; up 18.1 percent compared to the previous year, as announced by Vietnam’s Ministry of Industry and Commerce on Thursday.
— Fresh Plaza
See here for more of today’s Vietnam Morning News
The Asean Morning News Roundup and its individual country morning news round-ups are the most comprehensive hand-curated selection of news reports from around the Asean Economic Community (AEC) published. We scour hundreds of local and international news and websites to find the things that you need to know to start your working week day.
We clearly identify the source of the story, whether it is behind a paywall, a media release, or whether the site uses annoying pop-up advertising or auto-play video, in case those things annoy you. It’s all then packaged up in an easy to read format enabling you to make an informed choice of whether you want to learn more by clicking directly through to the original source, or keep on reading the headlines. AEC News Today: Governance, not government; policies not politics.
Asean Morning News For July 5 added by Digital Editor on
View all posts by Digital Editor →