Asean morning news for October 12,

Asean morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Singapore PM: ASEAN “steadfast” in upholding multilateral trading system
The Association of Southeast Asian Nations (ASEAN) remains “steadfast” in upholding an open and rules-based multilateral trading system, Singapore Prime Minister Lee Hsien Loong said on Thursday.
— Yahoo News

Malaysia concerned over megatrends in trade war between major powers: Tun M (Updated)
Prime Minister Tun Dr Mahathir Mohamad who returns to attend an Asean meeting after 15 years, says that Malaysia was very concerned over the megatrends involving the trade war between major powers.
— The Sun Daily

Promoting ASEAN’s central role in the region
At the invitation of Indonesian President Joko Widodo, Prime Minister Nguyen Xuan Phuc will attend the ASEAN Leaders’ Gathering (ALG) on the occasion of the annual meetings of the International Monetary Fund (IMF) – World Bank (WB) in Bali and visit Indonesia from October 11 to 12.
— Nhan Dan

ASEAN leaders meeting in Bali highlights connectivity
The Thai Prime Minister has reaffirmed the stance of Thailand in pushing international connectivity especially among ASEAN member states. The statement was made during the ASEAN Leaders’ Gathering (ALG) in Bali, Indonesia.
— NNT

Trade war benefits no one, PM tells Asean meeting
PRIME Minister Dr Mahathir Mohamad, who is attending an Asean meeting after a 15-year absence, said Malaysia is concerned about megatrends involving the trade war between major powers.
— The Malaysian Insight

ASEAN growth forecasts take hits from trade war and market turmoil
Economists in Southest Asia have lowered their growth projections as the US-China trade war heats up and emerging markets face deepening turmoil, a new survey shows.
— Nikkei Asian Review (paywall)

ASEAN Capital Market Regulators Launch Professional Mobility Framework, Social and Sustainability Bond Standards
The ASEAN Capital Markets Forum (ACMF) met in Singapore and launched two key initiatives to drive a more connected and sustainable ASEAN capital market[1].
— Staging Finance

Four Asean nations to lift barriers to cross-border investment advisory
South-east Asian financial regulators have agreed to allow cross-border investment advisory services and to set standards for social and sustainability bonds, according to announcements from the Asean Capital Markets Forum (ACMF) in Singapore.
— The Straits Times

AMAF to adopt 23 plans of actions in agriculture, forestry
The 40th meeting of the ASEAN Ministers of Agriculture and Forestry (AMAF) opened in Hanoi on October 11, with 23 plans of action and cooperation on the agenda.
— Nhan Dan

Ford mum about rejig’s Asean impact
US car maker Ford Motor Co remains silent on whether its Asean operations will be affected by a UScopy1-billion restructuring plan to cut 70,000 salaried employees worldwide.
— Bangkok Post

Four Asean nations to lift barriers to cross-border investment advisory
SOUTH-EAST Asian financial regulators have agreed to allow cross-border investment advisory services and to set standards for social and sustainability bonds, according to announcements from the Asean Capital Markets Forum (ACMF) in Singapore.
— Business Times

Japan and Mekong nations of Cambodia, Laos, Myanmar, Thailand, and Vietnam to strengthen ties
Japan and five nations connected to the Mekong Delta have agreed to strengthen ties throughout this important geopolitical region. Once more, for Myanmar, it highlights that this nation isn’t isolated throughout Asia and further afield despite Western and Islamic pressure.
— Modern Tokyo Times

HealthXCapital launches $25m healthcare fund for SEA and India
Singapore-based HealthXCapital is launching a $25-million healthcare fund targeting Southeast Asia and India in what it claims is a first for the region.
— Deal Street Asia

Household debt rising across Southeast Asia
On Wednesday, Thailand’s The Nation reported on a stunning survey. A poll conducted among 1,171 indicated that up to 78 percent of Bangkok residents—meaning roughly 6 million people—are in debt.
— Asia News Network

Singapore PM: ASEAN “steadfast” in upholding multilateral trading system
The Association of Southeast Asian Nations (ASEAN) remains “steadfast” in upholding an open and rules-based multilateral trading system, Singapore Prime Minister Lee Hsien Loong said on Thursday.
— Reuters

ASEAN leaders gathering agrees to reduce disparity
Heads of state/governments of the Association of Southeast Asian Nations (ASEAN) agreed to reduce disparity in development in the member countries during an ASEAN Leaders Gathering held on the sidelines of the IMF-WB Annual Meetings.
— Antara News

Safety first: Indonesian rules, Philippines ambitions and China traceability challenges in our APAC food safety review
Food safety is never far from the headlines in APAC, and our latest monthly review reveals the latest developments in Indonesia, Philippines, Singapore, China anad Hong Kong.
— FoodNavigator-Asia.com

Singtel’s big push for esports in Southeast Asia
Southeast Asia’s largest telecommunications conglomerate has signaled its plans for a big move into esports.
— Dot Esports

Asia needs region-wide approach to harness fintech’s full potential, says ADB
Asia’s policy makers should strengthen cooperation to harness the potential of new financial technologies for inclusive growth, said Asian Development Bank (ADB).
— The Edge Markets

Green bonds take root in Southeast Asia
Southeast Asian bond issuers, both private and public, are putting greater investment on environmental, social and governance standards to reach a bigger pool of global investors.
— Nikkei Asian Review (paywall)

US-China tensions make Asian free-trade deal ‘a priority’
The US-China trade war gives Southeast Asia fresh impetus to wrap up negotiations on a Beijing-backed free-trade deal that has been in the works for five years, Malaysia’s top trade negotiator has said.
— South China Morning Post

Is ASEAN close to abolishing the death penalty?
On 10 October, also known as World Day Against the Death Penalty, Malaysia’s minister in charge of law in the Prime Minister’s Department Liew Vui Keong announced that the cabinet has agreed to abolish the death penalty.
— The Asean Post

A race to close the inequality gap
Item 10 on the United Nations’ (UN) list of Sustainable Development Goals (SDG) is to reduce inequality by 2030.
— The Asean Post

Promoting ASEAN’s central role in the region
At the invitation of Indonesian President Joko Widodo, Prime Minister Nguyen Xuan Phuc will attend the ASEAN Leaders’ Gathering (ALG) on the occasion of the annual meetings of the International Monetary Fund (IMF) – World Bank (WB) in Bali and visit Indonesia from October 11 to 12.
— Nhan Dan Online

CAPA: Southeast Asia-US capacity to increase substantially in 4Q2018
CAPA – Centre for Aviation, in a report entitled: ‘SE Asia-US market: new nonstop flights will be challenging to sustain’, stated (05-Oct-2018) nonstop frequencies between Southeast Asia and the continental US will increase from 39 to 70 per week by the end of Dec-2018.
— CAPA

Think global, change lives: how tech firms can take on SE Asia
Southeast Asia may comprise 11 countries and 650 million people, but tackling this diverse market is achievable if companies have a global mindset and are willing to understand market fundamentals.
— South China Morning Post

Understanding how online consumers make complaints in SEA
E-COMMERCE topped the sector with the most complaints received by the Malaysian National Consumer Complaints Centre (NCCC) for 2016 and 2017 consecutively.
— TechWire Asia

Asian oil companies told to keep lid on prices despite high crude
Southeast Asian oil companies are under government pressure to keep prices low to offset the economic impact of surging Brent crude levels which hit their highest since 2014 last week.
— Nikkei Asian Review (paywall)

‘Confront challenges head on’: Duterte to co-ASEAN leaders
President Rodrigo Duterte on Thursday dared his fellow leaders in Southeast Asia to confront all challenges “head on” to achieve the 2030 Sustainable Development Goals (SDGs).
— Philippine News Agency

Cambodia morning news

Compiled by Sreypov Men @MenSreypov

Cambodia calls EU trade threat ‘extreme injustice’
Cambodia’s foreign ministry on Thursday said a decision by the European Union to ramp up trade pressure on the country over human rights concerns was an “extreme injustice”, adding it risked destroying decades of development in the country.
— Aljazeera

End Of EU Trade Preferences Could Bring Cambodia’s Economy To Its Knees
The European Union (EU) announced on October 5 that Cambodia would lose its special access to European markets under the so-called Everything But Arms (EBA) preferential trade scheme after the bloc launched a six-month review of the county’s duty-free status.
— Investvine

PM wants more Japanese investment in Cambodia
Prime Minister Hun Sen, speaking at the Mekong- Japan Business Forum in Tokyo on October 9, invited Japanese firms to visit Cambodia and convince themselves that it a worthy country for their investments.
— Khmer Times

See here for more of today’s Cambodia morning news

Indonesia morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Search called off for Sulawesi disaster victims
PALU (Indonesia) The Indonesian authorities yesterday called off the search for thousands of people still believed to be missing since a magnitude-7.4 earthquake and tsunami devastated Palu city in Sulawesi island a fortnight ago.
— The Straits Times

Indonesia, Singapore Sign $10 Billion Swap Agreement
Indonesia and Singapore signed a $10 billion swap agreement on Thursday to forge closer financial cooperation between the two neighbors, the presidential office said in a statement.
— Jakarta Globe

Indonesia Seeks Global Assistance as Natural Disasters Cost It $1.5b Annually
Indonesia has suffered average annual losses of Rp 22.85 trillion ($1.5 billion) from natural disasters over the past three years, far exceeding the government’s ability to mitigate such risks, prompting it to request the international community to help it come up with a disaster financing and insurance solution.
— Jakarta Globe

See here for more of today’s Indonesia morning news

Lao PDR morning news

Compiled by Maria Mirasol Rasonable @Maria Rasonable

Connectivity, Transport Keys to Unlocking Laos’ Growth Potential While “Navigating Uncertainty”: WB
A complex and fast-changing world and a stronger US dollar on the back of interest rate rises could make for a rough or productive ride for business, investors and the economy in developing countries around the world seeking to ride the wave of continued economic growth, Laos included.
— The Laotian Times

France, UNICEF to strengthen child protection system in Laos
The government of France and the United Nations Children’s Fund (UNICEF) have renewed their commitment to strengthen the child protection system in Laos with special focus on national and international adoptions.
— Vientiane Times

Govt, local plus Chinese firms cooperate on satellite tech
The Lao government has agreed with a local company and Chinese firm to cooperate in technology development especially in the field of satellite remote sensing.
— Vientiane Times

See here for more of today’s Lao morning news

Malaysia morning news

Compiled by Sreypov Men @MenSreypov

Malaysia to abolish death penalty
Malaysia’s cabinet has agreed to abolish the death penalty and halt pending executions, a move that has been hailed by international human rights groups and foreign diplomats.
— Aljazeera

Govt keen on private participation in airport development
The government is encouraging the private sector to invest in airport development and expansion throughout the country, Transport Minister Anthony Loke Siew Fook said.
— New Straits Times

Residential property overhang worsens
The overhang status of residential properties in Malaysia worsened in the first half of 2018 (1H 2018), with 29,227 units worth RM17.24 billion, reflecting a year-on-year increase of 18.1% and 10.2% in volume and value respectively.
— The Sun Daily

See here for more of today’s Malaysia Morning News

Myanmar morning news

Compiled by Maria Mirasol Rasonable @Maria Rasonable

Rohingya family makes rare return to Myanmar from Bangladesh
A Rohingya family of five has returned to Myanmar from Bangladesh, sources said Thursday, a rare development while a large-scale repatriation deal remains stalled.
— Frontier Myanmar

Yangon regional govt sues chief editor, in-charge editor and chief reporter of Weekly Eleven Journal
Yangon regional government sued chief editor Kyaw Zaw Lin, editor in-charge Na Yi Min and chief reporter Phyo Wai under Section 505 (b) on October 10.
— Eleven Myanmar

Rohingya plight: 12 families shifted to camp in N-24 pgns
Amid a global outcry over the Rohingya crisis, around 12 such families who recently took shelter at Sonakhali village under Haringhata police station limits in Nadia have been shifted to a camp in North 24 Parganas.
— The Stateman

See here for more of today’s Myanmar morning news

Philippines morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

More foreign funds flee Philippines in September 2018
The full-blown trade war between the US and China, the weak peso, rising inflation and the damage from Typhoon Ompong prompted foreigners to pull their investments out of the Philippines last month, according to the Bangko Sentral ng Pilipinas (BSP).
— The Philippine Star

DPWH to roll out P23.5-billion Metro flood-control project
The government is spending P23.5 billion to help manage flooding in Metro Manila, the public works department said on Thursday, after getting support from the World Bank and Asian Infrastructure Investment Bank.
— Business Mirror

‘Trabaho’ bill could cost local firms P298 billion–Peza
LOCAL firms might be in support of the Trabaho bill—the second part of the tax-reform package now pending in Congress—but they could be committing a fatal mistake, in the view of the Philippine Economic Zone Authority.
— Business Mirror

See here for more of today’s Philippines morning news

Singapore morning news

Compiled by Maria Mirasol Rasonable @Maria Rasonable

Singapore, Indonesia ink pact to offer protection, global arbitration access to investors
SINGAPORE and Indonesia on Thursday signed an agreement to promote and protect investments, with the treaty promising Singapore companies operating in Indonesia protection and access to international arbitration in the event of investment disputes.
— The Business Times

Maynilad wins arbitration case vs PHL govt in Singapore court
In its disclosure, the company said the decision of the Singapore High Court became final after the Philippine government decided to no longer appeal the dismissal of its appeal on September 4. The government could appeal the decision after 30 days, or up to October 4.
— Business Mirror

World’s longest non-stop flight from Singapore to New York set for take off
Singapore Airlines will claim the crown of the world’s longest service by miles flown on Thursday when it re-starts its direct service between Singapore and New York.
— CNBC

See here for more of today’s Singapore morning news

Thailand morning news

Compiled by John Le Fevre @photo_journ

Thailand blocks sale of French-owned power producer
Thailand’s energy regulator said Thursday it would block PTT Group’s multibillion-dollar acquisition of a company owned by French energy giant Engie on grounds that it could create an electricity monopoly in some areas.
— The Jakarta Post

Bank of Thailand sees economy capable of absorbing rate hike
Thailand’s economy is solid enough to handle an interest-rate increase and expectations of tightening this quarter are already partially reflected in the strength of the baht, according to the Bank of Thailand.
— Bangkok Post

Probe into Phoenix salvage death sinks
The investigation into the death of a diver working on the project to salvage the sunken Phoenix tour boat last week has stalled, with police accepting the official cause of death as a ‘lack of oxygen”.
— The Phuket News

See here for more of today’s Thailand morning news

Vietnam morning news

Compiled by Sreypov Men @MenSreypov

Vietjet signs $1.24 bln financing deal for 10 Airbus planes
Vietnam’s Vietjet Aviation signed a combined $1.24 billion worth of financing agreements to purchase up to 10 Airbus planes, the company said Wednesday.
— VnExpress

Fuel tax to up Vietnam inflation by 1.6 percent
Vietnam’s inflation will rise when the new environmental tax on fuel comes into effect next year, a report says.
— VnExpress

Vietnam’s largest water treatment plant for shrimp farming inaugurated
Viet Uc Group put into operation a shrimp-industry high-tech water treatment plant, the most modern of its kind in Vietnam, at the juvenile shrimp production area of the Viet Uc-Bac Lieu Company in Bac Lieu city, Bac Lieu province on October 10.
— Nhan Dan Online

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.

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