Asean morning news
Compiled by Stella-maris Ewudolu @stmarisewudolu
11 countries to launch TPP deal without USA and PH
A trade pact between 11 Pacific Rim nations will come into force this year after Australia became the sixth country to ratify it, nearly two years after President Trump withdrew the US from talks.
— Manila Bulletin
Singapore tops Asia in English skills after Malaysia, Philippines, India
Singaporeans possess the highest degree of English skills in Asia, followed by people from Malaysia, the Philippines, Malaysia, and India, according to a new study.
— Connected to India
Analysis: Asian LNG buyers accelerate push for destination flexibility in gas contracts
The Association of Southeast Asian Nations and Japan have furthered their push for destination flexibility in long-term LNG contracts with standardized clauses and new contractual documents, although their implementation is likely to take time.
— S&P Global Platts
Singapore invites ASEAN neighbours to send experts to collectively tackle online threats
Singapore on Wednesday (Oct 31) suggested its Association of Southeast Asian (ASEAN) neighbours each send a cybercrime expert to be based in the country by 2019 in order to collectively tackle online threats that target the region.
— Channel NewsAsia
Thailand assumes Chairmanship of ASEAN Conference on Civil Service Matters
The Thai Ministry of Foreign Affairs has announced that General Secretary of Thailand’s Office of the Civil Service Commission Methini Thepmani will serve as the Chairperson of the 20th ASEAN Corporation on Civil Service Matters (ACCSM) for the 2019-2020 period.
— Vietnam Plus
IFC Supports Altus Capital Corporation to Revitalize Distressed Companies
IFC, a member of the World Bank Group, the IFC Financial Institutions Growth Fund and the IFC Emerging Asia Fund, two funds managed by IFC Asset Management Company (AMC), are investing up to $65 million in Altus Special Situations Asia 1 LP.
— AEC News Today/ PR Newswire (media release)
Southeast Asia’s risk map: A country-by-country breakdown
Geopolitical risk comes in many forms. While investors are keeping a wary eye on political divisions in the U.S., the trade war between Beijing and Washington, and rising populism in Europe, Southeast Asian markets are facing their own unique headwinds.
— Nikkei Asian Review (paywall)
Vietnam carries out ASEAN Declaration on civil service’s role
Prime Minister Nguyen Xuan Phuc has just approved a project to implement the “ASEAN Declaration on the Role of the Civil Service as A Catalyst for Achieving the ASEAN Community Vision 2025”.
— Vietnam Plus
What stands in the way of Southeast Asia’s low carbon transition?
Insufficient regulation and fossil fuel subsidies are holding back Southeast Asia’s transition to a low carbon economy, according to a new report released by Eco-Business today.
— Eco-Business
KKR’s latest Southeast Asia bet is a $144M investment in PropertyGuru
Global investment giant KKR is warming up to Southeast Asia after it made a third high-profile investment.
— TechCrunch
China Must Collaborate Closely With its Neighbours to Ensure Success of the Belt and Road Initiative
China’s neighbours in Southeast Asia are pivotal to the success of its ambitious Belt and Road development strategy, a new joint report from LSE IDEAS at the London School of Economics and Political Science (LSE) and CIMB ASEAN Research Institute (CARI) argues.
— The Financial
Cambodia morning news
Compiled by Sreypov Men @MenSreypov
Tax authority reveals new target
The General Department of Taxation (GDT) has announced that it aims to increase revenue from tax collection by 19 percent with a new strategy for the next four years based on sustainability and fair competition in the private sector.
— Khmer Times
Cambodian Government Reserves $10M to Fund Pregnant Workers
Hun Sen, Strongman of Cambodia, announced Wednesday that the Royal Government of Cambodia reserved US$10 million to fund pregnant workers who are delivering babies, addressing to more than 6,700 workers in Kandal province.
— Fresh News
APO to help Cambodia develop National Productivity Master Plan
The Asian Productivity Organization (APO) has announced that it is working to assist the Royal Government of Cambodia in developing a National Productivity Master Plan to drive long-term productivity gains in the country.
— Business Insider
See here for more of today’s Cambodia morning news
Indonesia morning news
Compiled by Stella-maris Ewudolu @stmarisewudolu
Indonesia removes Lion Air director after crash, fuselage believed found
Indonesia’s transport minister removed on Wednesday the technical director of the Lion Air airline and several of its technicians after the crash of one of its jets with 189 people on board, the Antara news agency reported on Wednesday.
— Thai PBS World
RCEP negotiation delegates agree on dispute settlement chapter
Delegates involved in the final round of negotiations for the Regional Comprehensive Economic Partnership (RCEP) in New Zealand have agreed on the dispute settlement chapter, said the Trade Ministry’s international trade negotiation director general, Iman Pambagyo, on Tuesday.
— The Jakarta Post
Indonesia imposes mandatory use of B20 biodiesel in drive to cut fuel bill: deputy minister
Indonesia has enforced mandatory use of diesel containing 20 percent locally produced biofuel amid steps to rein in its fuel bill and cushion the impact on its economy of a currency crisis and higher oil prices, a government official told Reuters.
— Reuters
See here for more of today’s Indonesia morning news
Lao PDR morning news
Compiled by Maria Mirasol Rasonable @Maria Rasonable
Exclusive Report: Bureaucratic Chaos Rife in Hours Before Laos Dam Burst
On the night of July 23, water poured over a saddle dam at the Xe Pian Xe Namnoy (PNPC) hydropower project in Champassak, Laos, sweeping away homes and causing severe flooding in up to 12 villages downstream in Champassak and neighboring Attapeu province.
— Radio Free Asia
Vietnamese, Lao Party inspection agencies look to foster ties
The Inspection Commissions of the Communist Party of Vietnam (CPV) Central Committee and the Lao People’s Revolutionary Party (LPRP) Central Committee held talks in Vientiane on October 31.
— Vietnam+
Laos Plastics Market: Industry Overview, Opportunities, In-Depth Analysis And Forecasts, Outlook -2023
The Laos Plastics Market is expected to grow at a moderate rate during the forecast period, 2018 – 2023. The demand in Laos is estimated to lead the market owing to the rapid growth of the packaging sector in the country.
— Financial Counselor
See here for more of today’s Lao morning news
Malaysia morning news
Compiled by Sreypov Men @MenSreypov
Malaysia’s 13 strategies to transform manufacturing & services sector
The government has outlined 13 strategies under the National Policy on Industry 4.0 (Industry4WRD) as part of its roadmap to transform Malaysia’s manufacturing industry landscape in the next 10 years.
— New Straits Times
Govt can save RM10.7m in subsidies with B10 biodiesel
The use of B10 biodiesel in the transportation sector can help the government save RM10.7 million in subsidies annually, if it is successfully implemented, said Primary Industries Minister Teresa Kok Suh Sim.
— The Star Online
Local manufacturers need to get ‘smarter’ for Industry 4.0, says SAP
Technology solutions provider SAP Malaysia Sdn Bhd believe ‘intelligent production’ or ‘smart manufacturing’ is an inevitable consequence of digital transformation that is sweeping across businesses from all industries as well as the general society.
— New Straits Times
See here for more of today’s Malaysia Morning News
Myanmar morning news
Compiled by Maria Mirasol Rasonable @Maria Rasonable
Rohingya repatriation to start by mid-November
DHAKA • Bangladesh and Myanmar agreed yesterday to start returning Rohingya refugees next month, less than a week after United Nations investigators warned that a genocide against the Muslim minority was still ongoing.
— The Straits Times
Myanmar Garment Workers to End Strike After Government Mediates Labor Dispute
More than 100 Myanmar garment workers will return to work next week after the management of a Chinese-owned textile factory agreed to rehire 30 employees whose termination sparked a months-long strike, sources said Wednesday.
— Radio Free Asia
Rohingya ‘genocide’ threatens EU-Myanmar trade
The probe, and a similar one on Cambodia, has sparked a debate about whether the EU’s executive branch, the European Commission, should use its “everything but arms” (EBA) programme to pressurise its trading partners.
— Asean Economist
See here for more of today’s Myanmar morning news
Philippines morning news
Compiled by Stella-maris Ewudolu @stmarisewudolu
18 dead, P112M crops lost in Rosita’s wake
Typhoon Rosita (international code name: Yutu) has left 18 people dead, with most of the victims killed in landslides in Northern Luzon, authorities reported on Wednesday.
— The Manila Times
PH ‘ease of doing business’ rank falls to 124th out of 190 countries
The Philippines fell farther in its “ease of doing business” ranking from 113th last year to 124th this year in a field 190 countries covered by an annual World Bank report.
— Philippine Daily Inquirer
October inflation may reach 7%
The Bangko Sentral ng Pilipinas said Wednesday inflation rate in October may hit as high as 7 percent on the back of higher costs of fuel and water.
— Manilastandard.net
See here for more of today’s Philippines morning news
Singapore morning news
Compiled by Maria Mirasol Rasonable @Maria Rasonable
Plenty of deals as open electricity market kicks off
From free iPads to free Internet subscriptions, the open electricity market kicks off in the northern part of Singapore today amid fierce competition, with retailers dangling myriad deals to persuade consumers to sign with them.
– Straits Times
Service and manufacturing outlooks worsen for Q4 amidst global trade tensions
Real estate services and the machinery & systems manufacturing segment will bear the brunt, according to government agencies.
– Singapore Business Review
Bank loan growth slows to 4.5% in September as sentiment sours
Singapore bank loan growth decelerated from 5.6% in August to 4.5% in September to mark its slowest pace of growth in eight months as the majority of lending segments slowed on the back of cooling business sentiment, according to OCBC Treasury Research.
– Singapore Business Review
See here for more of today’s Singapore morning news
Thailand morning news
Compiled by John Le Fevre @photo_journ
Thailand blazes ahead with push to legalise medical marijuana use
Thailand is rolling out plans to legalise medical marijuana, an official told AFP Wednesday (Oct 31), as the country hopes to cash in on a multi-billion dollar industry with a product its supporters hail as some of the world’s best.
— Channel News Asia
Thailand’s Largest IPO of 2018 Climbs as Much as 3% in Debut
The Thailand future fund, an infrastructure fund put together by the military, jumped in its trading debut in Bangkok.
— Bloomberg (paywall)
Thailand: Current account surplus bounces back into billions
Despite a persistent large current account surplus, the Thai baht (THB) seems to have lost its lustre and has ended October among Asia’s worst performers.
—Think.ing
See here for more of today’s Thailand morning news
Vietnam morning news
Compiled by Sreypov Men @MenSreypov
Ministry of Finance seeks to cut 117 business regulations
Vietnam’s Ministry of Finance has submitted a draft decree to the government proposing to abolish and simplify a total of 117 business regulations under its jurisdiction.
— Nhan Dan Online
Vietnam’s increasing foreign debts a cause for worry
Vietnam’s rising foreign debt in recent years is affecting its credibility and making borrowing harder, officials and economists warn.
— VnExpress
More tax and customs reforms urged
The Ministry of Finance was urged to make greater efforts in tax and customs reforms which would help enhance competitiveness for enterprises in the context of rapid integration, attendees heard at a workshop on Tuesday.
— Bizhub
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 November 1 added by Digital Editor on
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