Asean morning news for October 23,

Asean morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

ADB invests $25 million in private equity fund focused on ASEAN SMEs
The Asian Development Bank (ADB) has agreed to provide a $25 million equity investment in Exacta Asia Investment II L. P., a private equity fund focused on investing in small and medium-sized enterprises (SMEs) in Southeast Asia.
— The Philippine Star

Asean competitiveness: Singapore leads, Philippines galloping (Infographics)
The latest global competitiveness rankings by the World Economic Forum (WEF) showed encouraging trends among Asean nations, with Singapore leading the way and the Philippines showing the greatest improvement from last year.
— AEC News Today

China, Asean kick off inaugural maritime field training exercise in Zhanjiang, Guangdong
Eight ships kicked off the first Asean-China Maritime Field Training Exercise in Zhanjiang in China’s southern Guangdong province on Monday (Oct 22).
— The Straits Times

China embarks on first joint naval drills with Asean as US tensions simmer in South China Sea
China and Asean are holding their first joint naval exercises as Beijing targets stronger regional military ties and confronts a growing rivalry with the United States in the disputed South China Sea.
— South China Morning Post

ASEAN nations agree to share intelligence to fight terrorism
The defense minister of Singapore, Ng Eng Hen, announced on Saturday, October 20, that the ten members of ASEAN (the Association of Southeast Asian Nations) have agreed to share intelligence in order to fight a ‘real and present’ militant threat in the region.
— The Independent

Singapore FinTech Festival attracts US$12b of capital for Asean enterprises
Powered by EY, MATCH or Meet Asean’s Talents and Champions, is a platform curates and matches Asean enterprises with global private equity and venture capital.
— The Edge Markets

US$12b earmarked for Asean enterprises via new matching platform
ON a new deal-making platform, 380 investors have indicated intentions to invest up to US$6.2 billion in Asean enterprises in 2019, with another US$6 billion earmarked over the following two years, the Monetary Authority of Singapore (MAS) announced on Monday.
— The Business Times

What’s in the New ASEAN Air Encounter Code?
Last week, Southeast Asian defense ministers finally adopted a set of multilateral guidelines to manage air military encounters – the first agreement of its kind in the world.
— The Diplomat

Southeast Asia Has an Investment Boom, Thanks to the Trade War
Southeast Asia is seeing a boom in foreign direct investment as the intensifying trade war between the U.S. and China prompts companies to shift production to the region.
— Bloomberg

Integrate biodiversity conservation in sectoral development – ASEAN
The Association of Southeast Asian Nations (ASEAN) is pushing for the integration of biodiversity conservation efforts in key development sectors, such as tourism, infrastructure, and banking and finance.
— Manila Bulletin

‘Skills gap a major challenge’ for SE Asia
DESPITE ENJOYING strong growth in investments, leading to greater demand for workforce and talent, Southeast Asia is still confronting many challenges ahead for the development of local talents, according to the CEO of Adecco Group.
— The Nation

Asean Defense Ministers Agree on Intelligence-Sharing Initiative
Member states of the Association of Southeast Asian Nations have reached several key cooperation agreements to strengthen regional defense capabilities, including a surveillance and intelligence-sharing initiative and a multilateral aircraft encounter guideline, during a meeting of their defense ministers in Singapore last week.
— Jakarta Globe

Shopping Fest Doubles Down on Southeast Asia
Chinese e-commerce titans are bringing the annual “Double 11” online shopping bonanza to Southeast Asia, in an attempt to replicate its success overseas.
— Caixin

Hà Nội hosts ASEAN meeting on women, children protection
The 17th Meeting of the ASEAN Commission on the Promotion and Protection of the Rights of Women and Children (ACWC) took place in Hà Nội on October 20, gathering representatives from ten ASEAN nations and the ASEAN Secretariat.
— Vietnam News

Cambodia morning news

Compiled by Sreypov Men @MenSreypov

Who needs the EBA? Cambodia inks trade deals with Turkey
Cambodia will greatly expand its two-way trade with Turkey, Prime Minister Hun Sen said, perhaps seeking out new economic partners days after his talks with European Union (EU) officials failed to break an impasse over the crucial Everything But Arms (EBA) trade agreement.
— AEC News Today

Rubber exports surge by 22%
Cambodian rubber exports surged 22 per cent during the first nine months of the year, compared to the same period last year, figures from the Ministry of Agriculture said.
— Phnom Penh Post

Tax collection up 17.5 percent
The General Department of Taxation collected $1.69 billion in tax revenue during the first nine months of the year, an increase of more than 17.5 percent.
— Khmer Times

See here for more of today’s Cambodia morning news

Indonesia morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Indonesia US$200m in arrears on fighter project: South Korea
Indonesia has demanded new terms from South Korea on a joint multi-billion-dollar jet fighter development project, as Seoul said on Monday (Oct 22) that Jakarta has not paid its share and is US$200 million in arrears.
— Channel NewsAsia

Indonesia awards 2 oil and gas blocks, ENI fails to win Makassar Strait block
Indonesia awarded two oil and gas blocks of six auctioned by the government, deputy energy minister Arcandra Tahar told reporters on Monday.
— Reuters Africa

BMKG Urges Papua Residents to Remain Cautious of Potential Quake, Tsunami
The Meteorology, Climatology and Geophysics Agency, or BMKG, has issued an advisory for residents of Papua to stay cautious for possible earthquake or tsunami, after identifying five disaster-prone districts in the province.
— Jakarta Globe

See here for more of today’s Indonesia morning news

Lao PDR morning news

Compiled by Maria Mirasol Rasonable @Maria Rasonable

Govt presses for progress in dam collapse enquiry
The government cabinet has told an ad hoc committee to remain focussed and to make progress in determining the root cause of the collapse of a dam in southern Laos in July which left dozens of people dead.
— Vientiane Times

Bank builds home for silk weavers in Laos
SOUNDS of suppressed laughter are audible in a small farm called Mulberries in Xiangkhoung, Laos, where a group of women huddle over a boiling cauldron of natural dye.
— The Star Online

Managing El Niño And La Niña In Lao Agriculture
Since 1966, over 70 percent of drought or flood disasters in Lao PDR have occurred during El Niño and La Niña years, with major impacts on the Lao agricultural sector and the overall economy, according to World Bank reported in Vientiane Capital on Oct 19, 2018.
— Lao News Agency

See here for more of today’s Lao morning news

Malaysia morning news

Compiled by Sreypov Men @MenSreypov

Malaysia’s Sept inflation rate seen picking up to 0.8% y-o-y
Malaysia’s consumer price index (CPI) likely rose 0.8% from a year earlier in September, a Reuters poll showed on Monday, accelerating from the previous month after a new tax regime came into effect.
— The Edge Markets

From Jan 1, Malaysia’s solar power users to enjoy cheaper electricity bills
Domestic and commercial users of solar power will enjoy cheaper electricity bills from Jan 1 under two new policies, says Yeo Bee Yin.
— The Nation

Malaysia’s international reserves fall to $102.8 bln as of Oct. 15
Malaysia’s gross international reserves edged down to $102.8 billion as of Oct. 15, from $103 billion as of Sept. 28, the central bank said on Monday.
— Reuters

See here for more of today’s Malaysia Morning News

Myanmar morning news

Compiled by Maria Mirasol Rasonable @Maria Rasonable

Mind the Infrastructure Gap
Another example of collaboration between Singapore and its neighbours include the 225-megawatt gas fired power plant in Myanmar’s Myingyan, near Mandalay.
— Reuters

Getting Myanmar moving
Myanmar’s economic outlook is extremely bleak, say many regional experts, and local business sentiment continues to slide downward.
— Bangkok Post

Myanmar, partners to build 1500 shelters for refugees’ return to northern Rakhine
Over 1500 shelters for displaced people will be built in northern Rakhine State by the Myanmar government, state and regional governments, international agencies, non-governmental groups and the Indian government, said U Nyi Pu chief minister of Rakhine.
— Myanmar Times

See here for more of today’s Myanmar morning news

Philippines morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

IT investments in ecozones buck downtrend, grow 9%
As investment approvals by the Philippine Economic Zone Authority (PEZA) declined in all industry sectors, the information technology (IT) sector bucked the trend, with investments picking up and posting a nine percent growth in the nine months to September this year.
— The Philippine Star

Budget deficit below ceiling in 9 months despite overspending
The Duterte administration’s budget deficit remained well below ceiling in the first nine-months of the year owing to higher revenue collections amid above-target expenditures, data from the Bureau of the Treasury showed.
— Manila Bulletin

Asean competitiveness: Singapore leads, Philippines galloping (Infographics)
The latest global competitiveness rankings by the World Economic Forum (WEF) showed encouraging trends among Asean nations, with Singapore leading the way and the Philippines showing the greatest improvement from last year.
— AEC News Today

See here for more of today’s Philippines morning news

Singapore morning news

Compiled by Maria Mirasol Rasonable @Maria Rasonable

Singapore is eighth biggest recipient of FDIs in H1 with deals worth $48.23b
Singapore clinched foreign direct investments (FDI) worth $48.23b (US$35b) in H1 2018, pushing Southeast Asia’s FDI inflows by 18% to $100.59b (US$73b), the Investment Trends Monitor published by the United Nations Conference on Trade and Development (UNCTAD) revealed.
— Singapore Business Review

HDB’s annual deficit grows by 44 per cent to $1.7b
More new flats were sold and more existing flats underwent upgrading, contributing partly to a 44.4 per cent spike in the Housing Board’s (HDB) net deficit in the last financial year.
— Straits Times

See here for more of today’s Singapore morning news

Thailand morning news

Compiled by John Le Fevre @photo_journ

Almost 11,000 killed on roads so far this year
A MEDICAL student and a 10-year-old girl are among the latest victims of Thailand’s notorious roads after their cars crashed head-on in Si Sa Ket province yesterday morning.
— The Nation (annoying popups)

Southeast Asia Has an Investment Boom, Thanks to the Trade War
Southeast Asia is seeing a boom in foreign direct investment as the intensying trade war between the U.S. and China prompts companies to shift production to the region.
— Bloomberg

Somkid unfazed by export snag
Deputy Prime Minister Somkid Jatusripitak said yesterday he still believes Thailand’s exports will meet the target if the country can earn more than US$20 billion (655 trillion baht) a month in the final three months of they year.
— Bangkok Post

See here for more of today’s Thailand morning news

Vietnam morning news

Compiled by Sreypov Men @MenSreypov

Rubber industry needs better adaptation to market
The rubber industry of Vietnam is facing a dire need to better adapt itself to the market situation as it is likely to be affected by the US-China trade tension that is forecast to not end soon.
— VietnamPlus

Nearly 80 per cent of fruit stores in Ha Noi meet safety standards
Nearly 80 per cent of the 1076 fresh fruit stores in the downtown districts of Ha Noi met food hygiene, safety and quality control standards, according to the municipal Department of Industry and Trade.
— Bizhub

Vietnam SSC approves RHB Bank to acquire 51 pct stake in Vietnam Securities
RHB Bank Bhd has obtained approval from the State Securities Commission of Vietnam (Vietnam SSC) for its proposed acquisition of the remaining 51 per cent stake in Vietnam Securities Corp (VSEC) for RM21.28 million.
— New Straits Times

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.