Asean morning news

Compiled by Stella-maris Ewudolu         @stmarisewudolu

‘Final’ round of RCEP talks fail to reach agreement, but it’s not over yet
Trade ministers and negotiators in Thailand for what was scheduled as the final round of negotiations on the establishment of what will become the worlds largest free trade agreement (fta) once implemented, yesterday (Oct 12) failed to reach an agreement on the text of a joint declaration to bring it into effect.
— AEC News Today

India’s concerns about RCEP remain the major obstacle to world’s largest trade deal
Not for the first time, trade ministers from the 16 Asia-Pacific countries negotiating the world’s biggest trade pact indicated this weekend they were within reach of a deal, but analysts and people with knowledge of negotiations predicted the final leg of talks will be particularly fraught.
— South China Morning Post

Asean nations to exchange trade documents via ASW by year-end
The Philippines and seven other members of the Association of Southeast Asian Nations (Asean) will exchange customs and trade-related documents over a platform that is intended to facilitate cargo clearance and economic integration of Asean countries by year-end.
— Business Mirror

ASEAN’s Indo-Pacific ‘can reduce friction’
One of the roles of the newly launched ASEAN Outlook on the Indo-Pacific is to reduce frictions between members and partner countries, as well as tendencies to establish potential “new blocks” among them intended to contain each other’s actions, an Indonesian Foreign Ministry official has said.“
— The Jakarta Post (paywall)

Thailand, Philippine firms lead revival in Southeast Asia IPOs
Thailand and Philippine companies are leading a regional pick-up in initial public offerings (IPOs), spurred by growing investor interest in firms focussed on Southeast Asian consumers.
— Business Recorder

Quest for the holy grail: Thai foreign minister jets to India as RCEP heads to the wire (video)
As the curtain begins to come down on Thailand’s year as Asean Chair Thailand foreign minister Don Pramudwinai has made a lightning three-day visit to India.
— AEC News Today (video)

Less traffic, trash and cash: Japan leads SE Asia to smart cities
Some 200 Japanese companies and organizations will take part in an initiative to develop smart cities in Southeast Asia, as Tokyo battles for influence with its Chinese and South Korean rivals.
— Nikkei Asian Review (paywall)

WEF: East Asia, Pacific the world’s most competitive regional economy
The economies of East Asia and the Pacific together outperformed other regions of the world with the highest median score, topped off by Singapore which stood as the world’s most competitive economy, according to the World Economic Forum’s (WEF’s) 2019 Report.
— The Phnom Penh Post

Why are interest rates falling in Southeast Asia?
It was not long ago that economists were fretting about interest rate rises in Southeast Asia.
— Khmer Times

ASEAN agriculture, fisheries cooperation helps Brunei diversify economy: minister
Agriculture and fisheries cooperation among members of the Association of Southeast Asian Nations (ASEAN) will help Brunei expand its economy and strengthen its diversification efforts, the country’s Minister of Primary Resources and Tourism Haji Ali said Saturday.
— Xinhuanet

Oil and gas supply tussle clouds Southeast Asia’s economic outlook
When Saudi Arabia announced on Oct. 3 that it had fully restored crude oil production and capacity to where they were before the devastating drone attacks on its facilities on Sept. 14, countries around the world, especially in Southeast Asia, breathed a sigh of relief.
— Nikkei Asian Review (paywall)

Property investors turn to SE Asia amid HK unrest
From luxury Singapore apartments to Malaysian seafront condos, Hong Kong investors are shifting cash into Southeast Asian property, demoralized by increasingly violent protests as well as the China-US trade war.
— Asia Times

Korean banks urged to pursue M&As in Southeast Asia
Korean financial companies should seek to sign more M&A deals in Southeast Asia to strengthen their foothold there and overcome competition from their Chinese and Japanese rivals, according to the Asia-Pacific head of one of the world’s top three business consultancies.
— The Korea Times

Meet the 8 Southeast Asian startups who will receive US$1-2M each from Sequoia’s Surge programme
Surge, a rapid-scale programme launched this year by Sequoia India for early-stage startups in India and Southeast Asia, has announced the 20 startups selected for its second edition (Surge 02 2019).
— e27

World Cup: Five Asean countries to discuss on bidding criteria in Kuala Lumpur
The wish to witness the Asean countries to co-host the 2034 World Cup may be realised.
— Malay Mail

Southeast Asia Futsal Championship to start on October 21
The Futsal HD Bank Championship Southeast Asia 2019 will be held at Phu Tho Stadium in Ho Chi Minh City from October 21 – 27.
— Vietnamplus

Cambodia morning news

Compiled by Raksmey Khoem          @raksmey.aecnews

Salute to Cambodia’s most dedicated football fan (video)
Cambodians can be excused for feeling somewhat dejected after their national football team received a drubbing at the hands of Iran in the second qualifying round of the Qatar 2022 Fifa World Cup on Thursday (Oct 10), but the off-field performance of one die-hard fan should cause them to be proud.
— AEC News Today

PM visits three EU members in crunch diplomacy mission
Prime Minister Hun Sen left for Europe on Sunday as he embarked on a five-day diplomatic visit to three EU countries, in a trip analysts have speculated could be crucial in deciding the Kingdom’s ‘Everything But Arms’ (EBA) fate.
— The Phnom Penh Post

Trade union bill changes passed
The Council of Ministers approved draft amendments to 10 articles of the Law on Trade Unions without modification on Friday, leaving some unions disappointed and claiming that the majority of their suggestions had not been included.
— The Phnom Penh Post

See here for more of today’s Cambodia morning news

Indonesia morning news

Compiled by Justhine De Guzman Uy         @justhine.aecnews

BPOM takes contaminated stomach drugs off market over cancer risk
The Indonesian Food and Drug Monitoring Agency (BPOM) has suspended sales of drugs containing ranitidine, commonly used to treat stomach problems, following reports from the United States and Europe that the medication may be contaminated with a carcinogenic substance.
— The Jakarta Post

World Bank downgrades Indonesia growth outlook, calls for reforms on grim global economy
The World Bank has cut Indonesia’s economic growth forecast for 2019, calling for reforms for East Asia and Pacific economies as they will be under long-term threat from increasing global trade tensions.
— The Jakarta Post

Indonesian Military Demotes 3 Members for Wives’ Social Media Posts About Wiranto Attack
The Indonesian Military, has taken disciplinary action against three of its members after their wives raised doubt on social media over Thursday’s attack in Banten on Chief Security Minister Wiranto by an Islamic militant.
— Jakarta Globe

See here for more of today’s Indonesia morning news

Lao PDR morning news

Compiled by Raksmey Khoem         @raksmey.aecnews

Chinese Support Gives Laos an Edge Over Powerful Neighbor Vietnam
A Mekong River hydropower dam scheduled to open this month worries Vietnam because the country sits just downriver from it and would be threatened by lower water flows.
— VOA

Lao people celebrate end of Buddhist Lent
Millions of Lao Buddhist followers flocked to pagodas near their houses on October 13 for Bun Ork Phansa that marks the end of Buddhist Lent or three-month retreat during the rainy season.
— Vietnam Plus

LSX Launches LALCO’S Shares Trading
The Lao Securities Exchange launched on Thursday the trading of the shares of Lao Asean Leashing Public Company (LALCO), the 11th company to have been registered on the Lao stock market.
— KPL

See here for more of today’s Lao morning news

Malaysia morning news

Compiled by Sreypov Men         @MenSreypov

No citizenship for foreigners buying homes in Malaysia
Prime Minister Tun Dr Mahathir Mohamad assured that the move to allow foreigners to buy condominiums and apartment units was due to a huge property overhang nationwide at the moment.
— New Straits times

Incentives to move into automation will boost confidence in automation investment: MARii
The proposed incentives for automation announced in the 2020 Budget will help boost business confidence in automation investments, as it demonstrates a stronger commitment from the government in developing the fourth industrial revolution (Industry 4.0) technologies within the local ecosystem.
— The Sun Daily

Australia urged to follow US, ban shipments of rubber gloves over forced labour concerns
Australia is being urged to follow the Trump administration’s lead in blocking shipments of rubber gloves sold by manufacturer Ansell, after one of its suppliers, WRP Asia Pacific, had its products detained by US customs over allegations of forced labour.
— ABC News

See here for more of today’s Malaysia Morning News

Myanmar morning news

Compiled by Sreypov Men         @MenSreypov

Rakhine rebels abduct dozens after storming Myanmar bus – army
State-backed Global New Light of Myanmar says a bus was flagged down by a man before 18 rebels in sportswear emerged from the forest and ordered passengers off at gunpoint
— Rappler

Myanmar Merchants and Farmers Suffer as China Cracks Down on Illegal Cross-Border Trade
China’s recent crackdowns on illegal cross-border trade from Myanmar are causing hardship for Myanmar merchants who make their living selling goods to Chinese buyers.
— Radio Free Asia

VPower Group wins Myanmar’s emergency power tender
Hong Kong-listed VPower Group said its consortium with Myanmar’s Zeya & Associates had been provisionally awarded four of the five emergency power projects tendered by the energy ministry in June.
— Myanmar Times

See here for more of today’s Myanmar morning news

Philippines morning news

Compiled by Stella-maris Ewudolu         @stmarisewudolu

Can Duterte expand horizons of Philippine diplomacy and keep his Washington and Moscow plates spinning?
“Sovereign democracy”, Russian propagandist Vladislav Surkov wrote, refers to a system whereby a “society’s political life … the political powers, their authorities and decisions are decided and controlled by … the people that formed it”.
— South China Morning Post

Philippines Approves New Measures to Contain African Swine Fever
The Philippines approved new measures, including movement controls for pigs and pork products and surveillance on live hog transport, to contain the spread of African swine fever, according to the country’s agriculture department.
— Bloomberg

Int’l tourist influx reaches 5M in August
The Department of Tourism (DOT) on Sunday said the international visitor arrivals in the country has surged past the 5-million mark in August, heralding attainment of the industry’s targets into the last quarter of the year.
— Philippine News Agency

See here for more of today’s Philippines morning news

Singapore morning news

Compiled by Justhine De Guzman Uy         @justhine.aecnews

Singapore retail sales fall for 7th straight month in August
SINGAPORE’S retail sales have fallen for the seventh consecutive month in August, compared to a year ago, on the back of poor motor vehicle sales.
— The Business Times

Dyson hits the brakes on electric car project: What the shift in gears means for Singapore
It was on Sep 26, 2017 when British inventor James Dyson announced ambitious plans for his household appliance firm to plough in £2 billion (S$3.4 billion) to produce electric cars by 2020.
— Channel NewsAsia (very annoying popups)

Iras recovers S$175m in GST, penalties in first 9 months of 2019
THE Inland Revenue Authority of Singapore (Iras) has recovered S$175 million in Goods and Services Tax (GST) and penalties during the first nine months of 2019, from audits and investigations of more than 2,000 GST-related cases, it said on Sunday.
— The Business Times

See here for more of today’s Singapore morning news

Thailand morning news

Compiled by John Le Fevre         @photo_journ

‘Final’ round of RCEP talks fail to reach agreement, but it’s not over yet
Trade ministers and negotiators in Thailand for what was scheduled as the final round of negotiations on the establishment of what will become the worlds largest free trade agreement (fta) once implemented, yesterday (Oct 12) failed to reach an agreement on the text of a joint declaration to bring it into effect.
— AEC News Today

Thailand’s growth forecasts for the rest of 2019 slashed again
Following their most recent meeting, the Joint Standing Committee on Commerce, Industry and Banking has announced Thailand’s economic growth this year has been revised downward to between 2.7 – 3.0% from the previous projection of 2.9 – 3.3%.
— The Thaiger

Quest for the holy grail: Thai foreign minister jets to India as RCEP heads to the wire (video)
As the curtain begins to come down on Thailand’s year as Asean Chair Thailand foreign minister Don Pramudwinai has made a lightning three-day visit to India.
— AEC News Today

See here for more of today’s Thailand morning news

Vietnam morning news

Compiled by Sreypov Men         @MenSreypov

Vietnam President Says 2019 Growth May Beat Official Estimate
Vietnam’s economic expansion this year may exceed the higher end of an official estimate, President Nguyen Phu Trong said.
— Bloomberg

Vietnam projected to have all-time high net car imports of US$3.4 billion
Car imports would continue to increase due to stronger demand from the domestic market, causing negative impacts on local car production and the country’s trade balance, said the Ministry of Industry and Trade.
— The Hanoitimes

Vietnam ranked fourth among most visited countries in Southeast Asia
Vietnam ranked fourth in Southeast Asia in the number of international arrivals in the first half of 2019, according to the Pacific Asia Travel Association’s (PATA) latest quarterly tourism monitor.
— Vietnam Insider

See here for more of today’s Vietnam morning news

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