Asean Morning News For May 4

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

World Economic Forum on ASEAN to be held in Vietnam
The World Economic Forum (WEF) on ASEAN 2018 will be held in Hanoi, Vietnam from Sept 11-13, the event’s organising committee said on Thursday, Xinhua news agency reported.
— New Straits Times

Cambodia to host next CLMV-India gathering
This year’s edition of the prestigious India-CLMV Business Conclave will take place in Cambodia during the month of May.
— Khmer Times

ASEAN+3 region economy to grow 5.4 percent in 2018
The economy of the ASEAN+3 region is projected to grow 5.4 percent in 2018, underpinned by resilient domestic demand and export growth with stable inflation, said a new report released on May 3 by the ASEAN+3 Macroeconomic Research Office (AMRO).
— VietnamPlus

ASEAN Leaders Call for Boosting Connectivity, Resolving RCEP Trade Talks “Expeditiously”
Leaders of the Association of Southeast Asian Nations (ASEAN) gathered in Singapore on Saturday 28 April to review the bloc’s goals going forward, with Singaporean Prime Minister Lee Hsien Loong calling for greater regional collaboration and integration as a way to bolster against external pressures, including trade tensions among major economies such as the US and China.
— ICTSD

ASEAN and the Commonwealth continue to prosper
The Association of Southeast Asian Nations (ASEAN) and the Commonwealth are two global blocs that share many similarities. The peoples within both entities can relate to one another through shared values of tolerance, respect, and understanding. Brunei, Malaysia, and Singapore are three ASEAN countries that are also part of the Commonwealth.
— The Asean Post

ASEAN faces tighter global conditions, trade tensions
The ASEAN countries are facing two near-term risks, namely faster-than-expected tightening in global financial conditions led by the United States Federal Reserve’s interest rate hikes and an escalation in global trade tensions, a regional macroeconomic research agency has warned.
— The Jakarta Post (paywall)

Southeast Asian Crime Syndicates Make $100 Billion Annually, UN Says
Southeast Asia’s transnational organized criminal economy is booming alongside increasing flows in legitimate regional trade, with underworld syndicates raking in more than U.S. $100 billion in annual revenue from narcotics smuggling and other illicit enterprises, the United Nations said Thursday.
— Benar News

Continued Chinese investments in ASEAN e-commerce to boost local economy
E-commerce is becoming a critical part of Southeast Asia’s economic development. It is also a massive area for potential growth.
— Asean Today

Investors trim Asian currency positions
INVESTORS trimmed their positions on most emerging Asian currencies in the last two weeks, a Reuters poll showed, following recent strength in the dollar on signs of resilience in the US economy and a rise in Treasury yields.
— BusinessWorld Online

The state of video streaming in Southeast Asia
Southeast Asia is catching the video streaming bug as video streaming services proliferate in the region.
— The Asean Post

A relationship between ASEAN and the Commonwealth
The Association of Southeast Asian Nations (ASEAN) and the Commonwealth are two global blocs that share many similarities.
— The Asean Post

Taiwan immigration agency doubles Southeast Asian language hotline hours
The National Immigration Agency (NIA) has doubled its hotline service in Bahasa Indonesia, Thai and Cambodia from four to eight hours a day since May 1.
— Taiwan News

Green bonds get glowing green light
On the eve of its annual meeting, the Asian Development Bank (ADB), which has issued its own “green” bonds for clean energy projects, circulated a lengthy report from the ASEAN+3 local-currency initiative calling for wider embrace of this structure to meet long-term low-carbon infrastructure funding under the United Nations’ Sustainable Development Goals and national plans.
— Asia Times

Asean nations discuss management of cosmetics
Representatives of the 10 Asean member states yesterday shared important lessons about the implementation of guidelines in the management of cosmetics.
— Vientiane Times

Growth in Asia to stay robust: Report
Growth in Asia is expected to remain robust in the coming years on the back of improving global demand, according to a new report out on Wednesday.
— The Straits Times

Risks flagged to robust Asean growth
ECONOMIC growth in the Asean region is expected to remain robust in the coming years on the back of improving global demand, according to a new report.
— The Nation

ASEAN HE open for engagement – report
‘The Shape of Global Higher Education’ report was launched at the 2018 Going Global conference in Kuala Lumpur, Malaysia on May 2.
— The Pie News

Cambodia Morning News

Compiled by Sreypov Men @MenSreypov

Hun Sen fourthmost ‘liked’ leader: report
A new report revealed on Wednesday that Prime Minister Hun Sen is the fourth most followed head of state on Facebook, with more fans than there are Cambodian Facebook users – news that comes just days after a US court suggested it would oblige the social media giant to disclose data on the premier’s “likes”.
— The Nation

As Cambodia Marks Press Freedom Day, Journalists Fear Increasing Restrictions
As the world celebrated Press Freedom Day on Thursday, the mood among Cambodian journalists was subdued following a months-long crackdown on dissent in the media.
— VOA Cambodia

National Road 5 to become ‘Asean highway’: Minister
The extension of National Road 5, which links Phnom Penh to Banteay Meanchey Province in the border with Thailand, is part of a larger, Asean-wide project to connect the kingdom with Thailand, Myanmar, and, ultimately, China, the Minister of Transport said on Wednesday.
— Khmer Times

See here for more of today’s Cambodia Morning News

Indonesia Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Dollar’s Comeback Knocks Stocks in Indonesia as Foreign Investors Flee
One of the biggest casualties of the rising dollar is the emerging market of Indonesia, which is seeing heavy stocks selling by foreign investors.
— The Wall Street Journal

Indonesia received $13.32bn in investment in Q1 2018, rise of 11%
It has been reported that Indonesia received investment totalling $13.32bn in the first quarter of 2018.
— Business Chief

Govt Slashes Oil and Gas Regulation, Chevron Appreciates
Chevron appreciated the simplification of regulations by the Ministry of Energy and Mineral Resources and Upstream Oil and Gas Executive Task Force (SKK Migas), thereby making the oil and gas investment climate in Indonesia more competitive.
— Netral News

See here for more of today’s Indonesia Morning News

Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

WB provides 257b kip loan to reduce Lao disaster risks
The World Bank recently provided a loan of more than 257 billion kip (US$31million) to Laos for implementing the Lao PDR Southeast Asia Disaster Risk Management Project.
— Vientiane Times

Vangvieng slated to become official tourism town in 2020
Vientiane province’s Vangvieng district will officially be declared a tourism town in 2020 in terms of natural and cultural attractions, as part of the government’s efforts to promote the tourism industry.
— Vientiane Times

Laos needs to prepare for LDC graduation: economists
Lao economists have called on the government to pay more attention to preparations for the country’s expected graduation from the least developed country (LDC) status, to ensure sustainable development.
— Xinhua Net

See here for more of today’s Lao Morning News

Malaysia Morning News

Compiled by Sreypov Men @MenSreypov

Malaysia’s Mahathir being probed for ‘fake news’
Malaysian opposition leader Mahathir Mohamad is under investigation for allegedly spreading “fake news” after claiming his plane was sabotaged, police said on Thursday, just days before a closely-fought election.
— Business Times

Maybank eyes RM50b credit card billing this year
Malayan Banking Bhd (Maybank) eyes a 16-18 per cent increase in total spending by customers using its credit cards to RM50 billion this year.
— New Straits Times

Bank Negara: RM2,700 provisional estimate of living wage
The monthly income of RM2,700 published in Bank Negara Malaysia’s (BNM) 2017 Annual Report is a provisional estimate of a living wage for a single adult in the capital, which does not refer to the median income.
— The Star Online

See here for more of today’s Malaysia Morning News

Myanmar Morning News

Compiled by Leakhena Khat @leakhenakhat

UN Council chief calls for action on Rohingya refugees
Ambassador Joanna Wronecka of Poland, this month’s UN Security Council president, said on Thursday that the United Nations has to act when Rohingya refugees are suffering.
— Xinhua Net

US to continue pressure on Myanmar
US President Donald Trump has assured Bangladesh of continuing its pressure on Myanmar over repatriation of Rohingyas from Bangladesh.
— The Daily Star

The Real Trouble with the Myanmar Reuters Journalists Trial
This week, headlines were focused on a surprising decision by a Yangon court in favor of two jailed Reuters reporters in what has become a landmark case for press freedom in Myanmar.
— The Diplomat (paywall)

See here for more of today’s Myanmar Morning News

Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

China deploys missiles on 3 PH-claimed reefs
The United States on Thursday reiterated the importance of keeping a presence in the region amid China’s increasing militarization of the South China Sea, where Chinese forces recently installed antiship cruise missiles and surface-to-air missile systems (SAMS) on three Philippine-claimed reefs in the hotly contested waterway.
— Philippine Daily Inquirer

U.S. pledges P182 million more for displaced Marawi residents
US Ambassador to the Philippines Sung Kim announced on Thursday, May 3, that his country is pledging P182 million ($3.5 million) to help internally displaced persons in conflict-stricken Marawi City and surrounding areas.
— Rappler

EMB to carry out P3.5-m greening for Santiago City
The Department of Environment and Natural Resources-Environment Management Bureau will carry out a greening system for this city to improve its environment.
— Manila Standard

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Loss of RM209 billion if KL-Singapore HSR cancelled
Malaysia will lose an estimated RM209 billion in gross national income (GNI) contribution if the Kuala Lumpur-Singapore High-Speed Rail is called off, MyHSR Corporation said.
— Free Malaysia Today

MAS to hold Singapore FinTech Festival with focus on ASEAN
The Monetary Authority of Singapore (MAS) announced that the third edition of the Singapore FinTech Festival will be held from 12 to 16 November 2018 in Singapore. With Singapore’s Chairmanship of ASEAN in 2018, the Festival will highlight FinTech developments and opportunities in ASEAN.
— Open Gov Asia

Singapore firms struggling to keep up with security patches
Singapore organisations are struggling to cope with the volume of security patches, with 78 percent saying they lack adequate resources to keep pace and 74 percent citing the inability to take critical systems offline so these can be patched quickly.
— ZDNet

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

Top official tied to welfare scam
The director of a welfare centre for the underprivileged in Samut Prakan has petitioned the prime minister to instigate disciplinary and criminal punishment against a former permanent secretary over an embezzlement scandal.
— Bangkok Post

Foreign buyers urged to join lawsuit against Phuket developer
Police have urged foreigners who bought condominium units from an allegedly fraudulent developer in Phuket to file complaints after the developer was arrested.
— Bangkok Post

K-Research: stronger US economy & likely interest rate hikes to weaken baht
Kasikorn Research Center predicts the stronger US economy will contribute to depreciation in the value of the baht.
— NNT

See here for more of today’s Thailand Morning News

Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

Vietnam makes trade surplus of US$3.39bn
Viet Nam made a trade surplus of US$3.39 billion in the first four months of 2018, in which foreign direct investment (FDI) sector, including fuel, took the lead with $11.17 billion. This was reported by the General Statistics Office (GSO).
— VietNamNet Bridge

Vietnam’s fintech market value to hit $7.8 billion in 2020
Value of Vietnam’s financial technology (fintech) market is estimated to soar to US$7.8 billion in 2020 from last year’s $4.4 billion thanks to rising bank penetration.
— The Hanoi Times

Vietnam to auction smuggled cigarettes for export
Vietnam will auction quality smuggled foreign cigarettes for export on a trial basis starting on June 18 according to a prime ministerial decision, its Ministry of Industry and Trade said on Thursday.
— 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.