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Asean Affairs 10 April 2011
By David Swartzentruber
AseanAffairs 10 April 2011
These were the most significant stories published by Asean Affairs during the week of April 2-April 8:
Indonesian shipments to Japan plunge
Indonesia’s exports to Japan, a key buyer for this nation’s commodities and energy resources, declined by 25 percent to $809 million in March, the Central Statistics Agency announced on Friday.
READ MORE: http://www.aseanaffairs.com/indonesia_news/trade/indonesian_shipments_to_japan_plunge
Malaysia bourse to become competitive
Bursa Malaysia's new CEO, Datuk Tajuddin Atan, will have a mandate to make the local exchange more competitive and to “enhance the Malaysian capital market's position as a destination of choice for listings and investments regionally,” the stock exchange said in statement yesterday.
READ MORE: http://www.aseanaffairs.com/malaysia_news/capital_markets/malaysia_bourse_to_become_competitive
THAI should exit state-enterprise status
THAI Airways International should shed its status as a state enterprise so the government would stop meddling in its affairs, advocates a think-tank for the Thai Finance Ministry.
READ MORE: http://www.aseanaffairs.com/thailand_news/privatisation/thai_should_exit_state_enterprise_status
Vietnamese textiles thrive
The volume of apparel orders and prices has increased, catapulting Vietnam to among the five largest countries in apparel export revenue. This means that the Vietnamese garment and textile sector will be able to realize the target of exporting US$12.5-13 billion of apparel products.
READ MORE: http://www.aseanaffairs.com/vietnam_news/economy/vietnamese_textiles_thrive
Financial cooperation a must for Asean
Financial cooperation will serve as the starting point to deeper market-driven integration of Asian economies, and the focus now should be on regional cooperation to support market integration, trade and investment in the region, according to Bandid Nijathaworn, Thailand's contender for the first directorship of the Asean+3 Macroeconomic Research Office (Amro).
US solar firm sells Vietnam on solar
Vietnam has taken yet another step toward generating renewable energy.
READ MORE: http://www.aseanaffairs.com/vietnam_news/energy/us_solar_firm_sells_vietnam_on_solar
Malaysia -London exchanges in talks
Bursa Malaysia is believed to be in preliminary talks with the London Stock Exchange to collaborate on the trading of each other's shares, according to sources.
READ MORE: http://www.aseanaffairs.com/malaysia_news/capital_markets/malaysia_london_exchanges_in_talks
Nippon Steel to make Thai investment
Nippon Steel Corp, Japan's largest steelmaker, will invest US$300 million (9.07 billion baht) to build a plant in Thailand to produce high-grade steel for the automobile and electrical appliance industries.
READ MORE: http://www.aseanaffairs.com/thailand_news/investment/nippon_steel_to_make_thai_investment
Thailand gains from improved trends
Improving economic trends in the United States and Europe and rising farm prices will drive economic growth this year to the level seen before the 2008 global downturn, says the World Bank. The Thai economy stands to benefit from high agricultural goods prices, which will improve local consumption and also create a slight shift in the export structure away from electronic and electrical goods.
READ MORE: http://www.aseanaffairs.com/thailand_news/economy/thailand_gains_from_improved_trends
Canberra kills SGX/ASX merger
The Australian government said on Tuesday it intended to reject the Singapore Exchange’s proposed $7.8 billion takeover bid for Australian stock-exchange operator ASX on national interest grounds.
READ MORE: http://www.aseanaffairs.com/singapore_news/capital_markets/canberra_kills_sgx_asx_merger
China looks to cooperate with Asean in sea dispute
China is looking at cooperating with the Association of Southeast Asian Nations (Asean) in tapping natural resources of disputed areas in the South China Sea, the Chinese ambassador to Manila said.
READ MORE: http://www.aseanaffairs.com/philippines_news/politics/china_looks_to_cooperate_with_asean_in_sea_dispute
W Java to explore eleven geothermal spots
The West Java provincial administration plans to conduct geothermal explorations in 11 points in West Java, Governor Ahmad Heryawan said.
READ MORE: http://www.aseanaffairs.com/indonesia_news/energy/w_java_to_explore_eleven_geothermal_spots
Hyundai begins Cambodian car assembly line
Hyundai's first Cambodian car assembly plant in Koh Kong province will officially launch in coming weeks, but is already assembling up to 100 vehicles per month.
READ MORE: http://www.aseanaffairs.com/cambodia_news/automotive/hyundai_begins_cambodian_car_assembly_line
Bali Confronts Its Problems
While most Indonesian government officials seem allergic to criticism, Bali Governor Made Mangku Pastika said on Wednesday that he had no problem with Time magazine labeling the island a “hellish” holiday destination.
READ MORE: http://www.aseanaffairs.com/indonesia_news/tourism/bali_confronts_its_problems
Asean finance ministers discuss “Hot Money”
Southeast Asian finance ministers meet today in Bali for talks expected to focus on capital controls to shield the region’s booming economies from destabilizing “hot money” inflows.
READ MORE: http://www.aseanaffairs.com/asean_news/economy/asean_finance_ministers_discuss_hot_money
Thailand, Cambodia reach agreement on border
Thailand and Cambodia have resumed Joint Boundary Commission talks in Indonesia to try to resolve their border spat which has seen bilateral relations plunge to their lowest point in years. READ MORE:
Forex reserves climb to new record
The Philippine’s foreign exchange reserves surged by almost half to register a new high in the first quarter of the year, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.
READ MORE: http://www.aseanaffairs.com/philippines_news/economy/forex_reserves_climb_to_new_record