Asean Morning News For May 23

Asean Morning News For May 23

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

RCEP nations to meet on July 1 amid pressure to conclude trade pact
Pressure is mounting on member countries including India for early conclusion of proposed free tarde pact, RCEP, government sources said.
— Outlook India

Beef up Australia-Asean friendship
Australian Prime Minister Malcolm Tumbull rolled out the red carpet for the leaders of Asean member countries two months ago. The first Australia-Asean Summit to be held “Down Under” ended with a commitment to strengthening cooperation in areas of economic ties, development initiatives and education.
Bangkok Post 

To each their own ‘Indo-Pacific’
There is, of course, no such thing as the Indo-Pacific. Like the Asia Pacific, or Asia itself, the Indo-Pacific is simply a way for governments to frame the international environment to suit their policy objectives in particular circumstances.
East Asia Forum 

Asean vows to energise efforts to connect regional power grid
More work is needed for Asean’s power grid to be connected to enhance cross-border electricity trade so it can contribute to energy security and economic prosperity in the region.
Vientiane Times

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Airport infrastructure is the vital link in helping Asean nations fly high
OSEPH Stiglitz, Nobel Prize-winner in economics, has a theory that the drivers of economic growth in the 21st century will be the dual forces of digital technology and urbanisation.
The Business Times 

A glance into the meth trade in Southeast Asia’s ‘Golden Triangle’
FROM Bangkok to Brisbane, authorities are raking in huge hauls of methamphetamine stimulant pills — better known as “yaba” — and the purer, more potent crystallised version known as “ice”.
Asian Correspondent 

Three ways to increase ASEAN-Australia collaboration in agri-food supply chain logistics
Australia and the ASEAN region are natural partners for cooperation on agriculture and food production, trade and investment, as well as the value-adding activities and supply chain supporting it.
Lexology 

The EU prescribes ASEAN type ‘connectivity’ for the Balkans
My last article on the Balkans titled “Why is [Emmanuel] Macron skeptical about playing Ode to Joy for the Balkans?” ended with the following foresight: “Time will show us whether the EU, with the rivalry mentality of French President Macron, will succeed in finding ways not to get stuck in a cul-de-sac in the Balkans.”
Hurriyet Daily News 

As Southeast Asia pushes to digitise SMEs, Echelon is here to help facilitate the process
In Southeast Asia, the best bet on the future is to look towards the past. By this, we mean small and medium sized enterprises! They have long been the backbone of Southeast Asia’s economy and now there is a huge push for SME digitalization in Southeast Asia.
e27

LMC: Asean sales to surge
Light vehicle sales in Asean are expected to show healthy growth this year, led by a rosier outlook for Thailand, but there are gloomier prospects for other key markets, according to research firm LMC Automotive.
— Bangkok Post

PH, Asean ‘quietly working’ to solve maritime dispute
MALACAÑANG revealed Tuesday, May 22, that the Philippines is “quietly working” with neighboring Southeast Asian nations to peacefully resolve the maritime disputes in the South China Sea (West Philippine Sea).
— Sun Star

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China’s Mekong charm offensive
China’s road to becoming a superpower in the 21st century inevitably requires it to go south to Southeast Asia, making its way through Mekong countries, writes Nguyen Khac Giang.
— Khmer Times

Chart of the Day: Singapore beats Asean countries over earnings revisions
This chart from Morgan Stanley shows that Singapore outpaced other ASEAN countries such as Thailand, Indonesia, Malaysia, and the Philippines over its positive earnings per share (EPS) revisions.
— Singapore Business Review

Asean CEOs cautiously optimistic about growth in the face of unprecedented headwinds
THE outlook appears to be bright as 88% of Asean CEOs are confident about their company’s growth prospect in the next three years, a sentiment shared by CEOs globally (90%).
— Digital News Asia

ASEAN Organic Cosmetics Market Estimated to Exhibit 9.5% CAGR through 2020
The global organic cosmetics market was valued at nearly US$ 40 billion in 2015, and by 2020, it is expected to reach US$ 66 billion, increasing at a CAGR of over 10%.
— Find Market Research (blog)

AboitizPower seeks greenfield projects in Indonesia, Myanmar
Aboitiz Power Corp. continues to scout for greenfield projects in Indonesia and Myanmar, while still on the lookout for potential acquisition in the Philippines, top officials said.
— Philippine Star

Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men    @MenSreypov

 

Cambodia’s Hun Sen Calls Parties on Ballot Real Opposition
Cambodian prime minister Hun Sen denied on Tuesday that 20 small and little-known political parties registered to compete in July 29 national elections were created by his ruling Cambodian People’s Party (CPP) to provide an illusion of political opposition in the coming polls.
— Radio Free Asia

Keep an eye on protectionism: Hun Sen
Prime Minister Hun Sen yesterday warned about the impact to Cambodia of current protectionist trends in world trade and asked government officials to come up with strategies that will ensure the sustained growth of the local economy in the face of external risks.
— Khmer times

Election Will Be Held as Scheduled, Says PM Hun Sen
Speaking at a graduation ceremony of Royal University of Law and Economics on Tuesday morning, Prime Minister Hun Sen stated that the National Assembly 6th mandate election will be held on July 29, 2018 as scheduled.
— Fresh News

See here for more of today’s Cambodia Morning News

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Rio Tinto confirms talks of $3.5bn Grasberg stake sale
Multinational diversified miner Rio Tinto confirmed on Tuesday that it is in talks with PT Indonesia Asahan Aluminium (Inalum) to sell its stake in the Grasberg copper/gold mine, in Indonesia, for $3.5-billion.
— Mining Weekly

Current account deficit to reach 2.3 percent in 2018: BI
Bank Indonesia (BI) has projected that the country’s current account deficit will reach 2.3 percent in 2018, higher compared to consensus estimates of 2.0 percent, as imports continue to rise against exports.
— The Jakarta Post

Indonesian domestic carriers among world’s cheapest
Tigerair Australia was named the world’s cheapest airline for domestic routes based on the average price of tickets per kilometer.
— The Jakarta Post

See here for more of today’s Indonesia Morning News

 

Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

New flights to boost links between Laos and China
Laos and China on Monday officially set in motion a new air route between the two countries, aimed not only at boosting tourism but also other areas of cooperation.
Vientiane Times 

Russian official discusses joint exercises with Laos’ chief of general staff
Russian Ground Forces Commander-in-Chief Colonel-General Oleg Salyukov has held negotiations with Lao People’s Armed Forces Chief of General Staff Lieutenant-General Suvon Luongbunmi. The generals hashed over joint practicing in tank maneuvers, the Russian Foreign Ministry said on Tuesday.
TASS

Labour officials mull rural employment strategy
The Ministry of Labour and Social Welfare and involved government bodies yesterday held a brainstorming session on a draft rural employment strategy which is being drawn up to ensure all ethnic groups have access to work.
Vientiane Times

See here for more of today’s Lao Morning News

Malaysia morning newsMalaysia Morning News

Compiled by Sreypov Men    @MenSreypov

 

Malaysia police to look into threats against new MACC chief
Malaysia’s police chief said on Tuesday (May 22) that he will look into allegations by the current chief of the Malaysian Anti-Corruption Commission (MACC) that he was tailed in the United States at the height of the 1MDB scandal.
— Channel NewsAsia

Malaysia’s finance ministry has been bailing out 1MDB since April 2017: Lim Guan Eng
Malaysia has been “bailing out” 1Malaysia Development Berhad’s (1MDB) debt obligations since April 2017, and payments on behalf of the state fund amounted to RM6.98 billion (US$1.8 billion), the newly appointed finance minister said on Tuesday (May 22).
— Channel NewsAsia

Government must address Malaysia’s stance on trade pacts
The new government has to decide Malaysia’s stance on international trade agreements, particularly the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), said Ministry of International Trade and Industry secretary-general, Datuk Seri J Jayasiri.
— The Borneo Post

See here for more of today’s Malaysia Morning News

 

Myanmar morning newsMyanmar Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Myanmar Rohingya militants massacred Hindus, says Amnesty
Rohingya Muslim militants in Myanmar killed dozens of Hindu civilians during attacks last August, according to an investigation by Amnesty International.
BBC News 

Thailand – Myanmar agree to boost anti-drug efforts
Thailand and Myanmar have agreed on increased border cooperation to crackdown on the narcotics trade.
NNT 

Alibaba secures foothold in Myanmar market, growth in e-commerce expected
Alibaba group has established a foothold in Myanmar following the acquisition of Daraz Group, the Pakistani online shopping platform which operates Myanmar e-commerce site shop.com.mm.
The Myanmar Times 

See here for more of today’s Myanmar Morning News

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

DOF pushes for amendment, repeal of 123 laws on investment incentives
The Department of Finance (DOF) on Tuesday urged Congress to amend or repeal over a hundred special laws on investment incentives and consolidate them into an omnibus incentive code as part of the proposed second package of the government’s tax reform program.
— GMA News

Jose Maria Sison, wife get P1.2 million each in human rights-abuse reparations
Malacañang is “delighted” over the release of reparations for human-rights abuse victims during martial law, including Communist Party of the Philippines (CPP) founder Jose Maria Sison and his wife, Julie de Lima.
— BusinessWorld Online

Senators baffled: P37M in SAF subsistence allowances withheld
Former officers of the Philippine National Police Special Action Force (SAF) were stumped for answers when asked by senators why they withheld P37 million of the allotted P59.8 million in subsistence allowances for 4,000 elite commandos and spent part of the money for other purposes.
— Philippine Daily Inquirer

See here for more of today’s Philippines Morning News

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat   @leakhenakhat

 

Malaysia to review high-speed rail link to Singapore, other mega projects
Malaysia will review the implementation of mega projects such as the high-speed rail line to Singapore, and a US$14 billion rail project connecting the country’s east and west coasts, state news agency Bernama reported on Tuesday (May 22), citing the economic affairs minister.
Channel NewsAsia 

MAS to simplify rules for market operators and speed up launch of new products
THE Monetary Authority of Singapore (MAS) intends to simplify rules to encourage more exchanges and also to make it easier to launch new derivatives products.
The Business Times

Over $40 million of fuel stolen from Shell refinery, Singapore court docs show
Singapore authorities have levied new charges against a group of fuel thieves operating at Royal Dutch Shell’s oil refinery in the city-state, raising the value of the stolen fuel to over $40 million from around $10 million in earlier charges, according to court documents reviewed by Reuters on Tuesday.
Reuters 

See here for more of today’s Singapore Morning News

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

SPECIAL REPORT: EEC apart, NCPO has done little to enhance people’s lives, say economists
ECONOMISTS SEE some economic improvement during the term of the junta-backed government but are disappointed at the paucity of its major economic reforms.
— The Nation

NESDB adjusts annual economic forecast after strong Q1 performance
The Office of the National Economic and Social Development Board (NESDB) has reported the Thai economy saw its highest amount of growth in 20 quarters during the first quarter of 2018, gaining 4.8 percent.
— News Today (video)

PM Prayut satisfied with NCPO’s reform achievements during past four years
The Prime Minister has expressed satisfaction over what he believe have been key achievements in the national reform plan initiated by the National Council for Peace and Order.
— NNT

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov

 

US hikes tariffs on Chinese steel exported via Vietnam
The United States has raised tariffs on steel from Vietnam that Washington says originated in China and evaded anti-dumping duties on Chinese steel.
— CNBC

Gov’t asked to help automakers overcome difficulties
Auto businesses are concerned about Viet Nam’s future policy orientation with regard to the auto industry, which they think will affect their business strategy.
— Bizhub

Vietnam to slash tax incentives for casino developments in special economic zones
Vietnamese officials are contemplating cutting previously agreed tax incentives for casino operators in the country’s special economic zones (SEZs).
— Asgam

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.

 

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