Asean morning news for October 30,

Asean morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Financing for clean energy projects pushed for ASEAN economies
To push more environment-friendly alternatives into the energy mix of economies in the region, a clean energy financing roadmap has been cast during the 36th ASEAN Ministers on Energy Meeting (AMEM) here.
— Manila Bulletin

China’s Belt and Road Initiative could boost regional infrastructure, connectivity in ASEAN: Malaysian minister
China’s Belt and Road Initiative could help bridge the infrastructure and connectivity gap in the Association of Southeast Asian Nations (ASEAN), Malaysia’s Economic Affairs Minister Mohamed Azmin Ali said Tuesday.
— Global Times

Asia airports present investment opportunities: DBS
With rising passenger numbers and congested facilities, Asia’s airport market presents opportunities for investors, according to a DBS Insight SparX report.
— The Business Times

ASEAN regasification capacity to grow 77% in next decade
The Association of Southeast Asian Nations (ASEAN) is likely to add nearly 77% in regasification capacity over the next decade as member countries build LNG import terminals to meet growing energy demand, according to data from the ASEAN Council on Petroleum.
— S&P Global Platts

Southeast Asia to double renewables with help of experts
The Association of Southeast Asian Nations will accept know-how from the International Renewable Energy Agency to advance the use of such renewable sources as solar and wind power under a memorandum of understanding signed on Tuesday.
— Nikkei Asian Review (paywall)

What’s in the First Vietnam-Laos-Cambodia Trilateral Border Exchange?
Later this week, Vietnam, Laos, and Cambodia will hold the first iteration of a new trilateral border exchange between them in Vietnam.
— The Diplomat

Low-cost renewables revolution is coming to Southeast Asia
New analysis from Carbon Tracker shows it could be cheaper to build new renewable energy sources than to operate existing coal-fired power plants in Southeast Asia within 10 years.
— Asia Times

Five countries participate in ASEAN Muslim youth conference
Five countries — Indonesia, Malaysia, Singapore, Thailand, and the Philippines — are participating in the ASEAN Muslim Youth International Meeting as part of the International Youth Conference (IYC) 2018 held in Banjarmasin, South Kalimantan Province.
— Antara News

Getting business to fill in the Asean humanitarian gap
At the recent 6th Asean Ministerial Meeting on Disaster Management and Emergency Response (AMMDM) this month, Asean member states agreed to contribute $90,000 to disaster preparedness.
— Khmer Times

ASEAN+3 forum in Beijing, China and ASEAN agree to deepen cooperation
The Ministry of Finance and the People’s Bank of China hosted a high-level forum titled “40th Anniversary of China’s Reform and Opening-up: Progress, Prospects and Impacts on the East Asian Region”, last Friday in Beijing, with the ASEAN+3 Macroeconomic Research Office.
— China Knowledge

Asean can’t keep turning a blind eye to Rakhine
Asean must address the root cause of the Rakhine crisis before a move to repatriate thousands of refugees to the strife-torn state in Myanmar gets underway.
— The Nation

ASEAN + 3 media leaders optimistic on war on fake news
Media leaders representing the Association of Southeast Asian Nations (ASEAN) + 3 countries on Monday expressed optimism that stronger collaboration and maintenance of high standards of objectivity will protect the high level of economic and regional cooperation of the participating nations against “fake news” and other communications challenges.
— Manila Bulletin

THESE ARE THE BEST SOUTHEAST ASIAN DISHES, ACCORDING TO OUR REGIONAL #MTVEMA NOMINEES
The 2018 MTV EMA is less than a week away, and there will be seven acts vying for the Best Southeast Asia Act, and these talents were born and bred in their respective countries, from Thailand to Singapore.
— MTV Asia

ASEAN is ripe for Islamic banking: Moody’s
Moody’s Investors Service says ASEAN is ripe for Islamic banking, but various challenges are evident even though authorities are putting measures in place to develop this sector.
— The Jakarta Post

Cambodia morning news

Compiled by Sreypov Men @MenSreypov

Central Bank explains its yuan promotion policy
A representative of the National Bank of Cambodia yesterday clarified the Central Bank’s policy toward the Chinese yuan, saying that its use is only being promoted in cross-border dealings.
— Khmer Times

Logistics overhaul to cost $19b
Cambodia expects to roll out $19 billion worth of projects contained in the logistics masterplan in the next seven years with a vision of becoming a warehousing logistical hub serving the greater Mekong sub-region, as well as Thailand, Laos and Vietnam.
— Khmer Times

Border trade Cambodian- Thai trade increases
Bilateral trade between Cambodia and Thailand reached $3.16 billion in the first nine months – an increase of 14.08 per cent year-on-year.
— The Nation

See here for more of today’s Cambodia morning news

Indonesia morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Black box recovered as investigators in UK probe cause of Vichai crash
AIR ACCIDENT investigators yesterday began the slow process of ascertaining the cause of the helicopter crash which took the lives of King Power chairman Vichai Srivaddhanaprabha and four other people at the weekend.
— The Nation

Lion Air crash: 10 bodies recovered from crash site; all 189 people on board feared dead
Rescuers at the Lion Air Flight JT610 crash site off the waters of Karawang, West Java, have sent 10 body bags containing human remains, including possibly that of a baby, for DNA testing on Tuesday
— The Straits Times

Foreign direct investment in Indonesia contracts again in Q3
Foreign direct investment (FDI) in Indonesia fell for the second straight quarter in July-September from a year earlier, the investment board said on Tuesday.
— Nasdaq

See here for more of today’s Indonesia morning news

Lao PDR morning news

Compiled by Maria Mirasol Rasonable @Maria Rasonable

Vietnam, Laos step up collaboration in forestry law enforcement
Representatives from the Vietnam Administration of Forestry (VNFOREST) and the Lao Department of Forestry Inspection (DOFI) sat down in the central province of Ha Tinh on October 30 to review their cooperation in forestry law enforcement.
— Vietnam+

Chiang Khong Border Checkpoint to become e-Commerce warehouse
The minister said the establishment of the special economic zone would lead to greater trade and investment opportunities among the Mekhong-Lan Chang nations including Thailand, Laos, China, Vietnam, Cambodia, Myanmar and Vietnam.
— NNT

Combined Force Seize 14.6 Million Methamphetamine Tablets in Wiang Kaen District of Chiang Rai
The operation was carried out at about 1.30am following a report that a major drug smuggling operation was being planned in this Thai-Lao border area.
— Chiang Rai Times

See here for more of today’s Lao morning news

Malaysia morning news

Compiled by Sreypov Men @MenSreypov

Banks to report cash transactions above RM25k as at Jan 1, 2019
As at Jan 1, 2019, banks must report any cash transactions exceeding RM25,000 in their daily cash threshold report, a reduction from the current RM50,000 limit.
— The Star Online

Malaysia challenges US$5.78 billion settlement between 1MDB and IPIC
Malaysia will file a legal challenge to a 2017 consent award granted to Abu Dhabi fund IPIC in a debt dispute with scandal-hit state fund 1MDB, its attorney general said on Tuesday (Oct 30).
— Channel NewsAsia

Study: Most properties around MRT stations unaffordable for M40, B40 groups
A majority of housing projects built close to the MRT-SBK line are not affordable for the M40 and B40 groups, a think-tank says.
— Malay Mail

See here for more of today’s Malaysia Morning News

Myanmar morning news

Compiled by Maria Mirasol Rasonable @Maria Rasonable

Thousands flee as fighting erupts in Myanmar
At least 1,600 people have fled their homes and taken refuge at monasteries after fighting erupted among ethnic armed groups in Myanmar’s Shan State.
— UCA News

Rohingya refugee crisis hits Myanmar’s economy
While the Rohingya crisis and the escalating problems in Kachin and northern Shan State are grabbing headlines, Myanmar’s sagging economy and the withdrawal of investment by Western nations threaten to hit the largely impoverished nation the hardest.
— UCA News

Business groups speak out against potential withdrawal of EU GSP
Meanwhile, The Myanmar Times understands that a statement co-signed by six European business groups has been addressed to the monitoring mission, arguing that withdrawing GSP “will undoubtedly have a detrimental impact on the most vulnerable people in Myanmar while also closing the door to the spread of European standards with regard to responsible business.”
— Myanmar Times

See here for more of today’s Myanmar morning news

Philippines morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Dozens feared buried by ‘Rosita’ landslide in Mt. Province
Nearly three dozen people were feared buried under a massive landslide unleashed Tuesday in the Mountain Province by Typhoon “Rosita” (international name “Yutu”), which killed four children and a man as it ripped across the disaster-prone nation.
— Philippine Daily Iquirer

Philippine seas study: Fishing sector faces 2050 extinction
The marine fisheries harvest in the Philippines may vanish by 2050, according to the latest projections made in a new study on the marine impacts from climate change.
— AEC News Today

Q3 GDP likely grew faster than 6% — report
ECONOMIC GROWTH likely picked up last quarter from the preceding three months’ disappointing six percent, analysts of First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said in their latest joint assessment, even as they still slashed their full-year 2018 projection.
— BusinessWorld Online

See here for more of today’s Philippines morning news

Singapore morning news

Compiled by Maria Mirasol Rasonable @Maria Rasonable

Changi Airport’s T4 handled over 8 million passengers in first year
October 31, 2018 5:00 AMChangi Airport’s Terminal 4, which turns one today, has seen over eight million passengers in the first year of operations – about half of its total annual capacity.
— Straits Times

Bus, train fares to go up by 6 cents from Dec 29 for standard card users
From Dec 29, adults taking buses and MRT trains will have to pay six cents more for card fares, and single trips on both modes of transport will cost 10 cents more. Students and senior citizens will pay up to one cent more in card fares for trains and buses.
— Today Singapore

Price hikes of prime properties in Singapore rally to world’s highest in Q3
Prime prices grew 13% in just a year, surpassing rates in Edinburgh and Madrid. The growth of prime prices in Singapore hit 13% in just a year, marking the highest rate around the world’s luxury property markets, Knight Frank revealed.
— Singapore Business Review

See here for more of today’s Singapore morning news

Thailand morning news

Compiled by John Le Fevre @photo_journ

BOT expected to hike key interest rate
STANDARD Chartered Bank (Thailand) expects the Bank of Thailand (BOT) to start monetary policy normalisation and increase the interest rate by 25 basis points (bps) , from 1.50 per cent to 1.75 per cent, in November.
— The Nation (annoying popups)

Thai Sept factory output falls 2.6%, first decline in 17 months
Thailand’s manufacturing production index (MPI) in September contracted for the first time in 17 months, down 2.6 per cent from a year earlier, led by lower production of cars and rubber, the Industry Ministry said on Tuesday.
— Business Times

4 EEC projects worth B470bn get nod
Chiang Rai: The cabinet has endorsed four infrastructure investment projects worth a combined 470 billion baht under the government’s flagship Eastern Economic Corridor (EEC) scheme.
— Bangkok Post (annoying popups)

See here for more of today’s Thailand morning news

Vietnam morning news

Compiled by Sreypov Men @MenSreypov

Coal exports increase sharply in October
Vietnam’s export turnover in October was estimated at US$20.80 billion, down 1.5% from the previous month. Telephones and components saw the sharpest decrease with 21.4%, however, coal exports have rocketed by 45.3%.
— Nhan Dan Online

Vietnamese businesses frustrated when exporting produce to China
Vietnamese businesses, still trying to export produce to China via unofficial means, are facing high risks. However, according to an article on english.vietnamnet.vn, they still have not found a way to boost exports through official channels.
— Fresh Plaza

Vietnam’s industrial production index up 10.4% in ten months
Vietnam’s index of industrial production (IIP) was estimated to have risen by 10.4% in the first ten months of 2018, much higher than the 9.6% growth level of the same period last year, according to the General Statistics Office (GSO).
— 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.

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.