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Asean Affairs 16 October 2011
By David Swartzentruber
AseanAffairs 16 October 2011
These were the most newsworthy stories published by Asean Affairs during the week of October 8-14.
Foreign sell-off could hurt Asian economies
The International Monetary Fund (IMF) warned that a sell-off by foreign investors in developed markets could trigger a loss of faith in the capital markets in emerging nations across Asia, including Indonesia.
READ MORE: http://www.aseanaffairs.com/asean_news/economy/foreign_sell_off_could_hurt_asian_economies
Skills gap in Philippines labor force
The World Bank on Thursday cited skills gaps as serious bottlenecks for innovation and productivity among Filipino companies. READ MORE: http://www.aseanaffairs.com/philippines_news/labor/skills_gap_in_philippines_labor_force
Bangkok prepares for possible flooding
Rising sea levels predicted this weekend have fueled fears of severe flooding in Bangkok.
READ MORE: http://www.aseanaffairs.com/thailand_news/environment/bangkok_prepares_for_possible_flooding
Glencore to rescue Bakrie Group
Glencore, the world’s biggest commodities trader, is expected to sign a deal within days for a US$800-$900 million loan to Indonesia’s Bakrie Group to help it refinance a $1.35 billion facility that became unexpectedly due, sources said on Thursday.
READ MORE: http://www.aseanaffairs.com/indonesia_news/companies/glencore_to_rescue_bakrie_group
FDI rises 250 percent in Cambodia
Foreign direct investment in Cambodia soared 250 percent year-on-year through August even despite the West’s economic woes, Deputy Prime Minister Sok An said yesterday.
Nigeria plans Indo refinery
Nigeria plans to invest Rp 24 trillion (US$2.68 billion) in Indonesia to fund the construction of three oil refineries, an official says.
Myanmar frees prisoners
Myanmar freed dozens of political prisoners on Wednesday, including a comedian who is one of its most famous dissidents, in a further sign of change in the authoritarian state after decades of repression.
Japanese firm hit by floods
Minebea Group of Companies, one of the largest Japanese investors in Thailand, may revise its investment focus in Ayutthaya due to risks from flooding.
READ MORE: http://www.aseanaffairs.com/thailand_news/economy/japanese_firm_hit_by_floods
Asia’s trade to double
Asia’s trade volume will almost double by 2025 and will be the key driver of world trade growth despite current global economic headwinds, HSBC said in a report on Tuesday.
READ MORE: http://www.aseanaffairs.com/asean_news/trade/asias_trade_to_double
Malaysian budget criticized
While it is undeniable that the goodies-packed and “perceivably optimistic” Budget 2012 has injected some feel-good factors into the lives of Malaysians, reality check has caused some quarters in the private sector to question the viability of the government's fiscal deficit target and economic growth projections.
READ MORE: http://www.aseanaffairs.com/malaysia_news/economy/malaysian_budget_criticized
Cambodia’s flood toll rises
With the death toll from flooding in Cambodia climbing to 206 over the weekend and lengthy sections of banks along the Mekong, Tonle Sap and Bassac rivers at risk of collapse, the government was urged yesterday to call for international assistance.
READ MORE: http://www.aseanaffairs.com/cambodia_news/environment/cambodia_s_flood_toll_rises
Thai central bank estimates flood damage
The Bank of Thailand (BOT) has estimated the economic damage from nationwide flooding at 60 billion baht (US$2 billion), or 0.6 percent of gross domestic product (GDP), Finance Minister Thirachai Phuvanatnaranubala said on Monday.
READ MORE: http://www.aseanaffairs.com/thailand_news/environment/thai_central_bank_estimates_flood_damage
Vietnam’s flood death toll rises
The toll from the worst floods to hit Vietnam's Mekong Delta in a decade has reached 24, most of them children, the government disaster authority said on Monday, as it reported a further six deaths.
Indonesia rebrands as global force
When Indonesia’s ambassador to the United States hands out his folded business card, it often raises eyebrows.
Myanmar VP to China on dam dispute
Myanmar's vice-president, Tin Aung Myint Oo, will visit China this month to discuss the suspension of a controversial dam built and financed by Chinese firms, a senior Myanmar official said on Friday.