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ASEAN ANALYSIS  22  August 2010

Weekly Summary

By David Swartzentruber
AseanAffairs   22 August 2010

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These were the most important stories in the Asean region during the week of August 15-21.

Indonesia's GDP predicted at 6.3 percent in 2011

Indonesia’s government projects that Indonesia's economic growth will rise to 6.3 percent in 2011, from an estimated 6 percent this year and 4.5 percent last year.
READ MORE: percent_in_2011.

VW to assemble autos in Malaysia

Observers say it wasn’t surprising that Volkswagen AG signed a deal to assemble Volkswagen cars in Pekan.

Indonesia president wants to “uncage” economy

Indonesia's president said that he wants Asean’s biggest economy to stop being a "caged tiger" and unleash annual growth of nearly 8 percent by 2014.

Foreign exchange helps Thai Air income

Foreign exchange gains turned an expected second quarter loss to a gain at Thai Airways International. Political unrest in Bangkok caused by protests occurred during the second quarter and that dampened the airline’s outlook.

Vietnamese banks depreciate local currency

Many commercial banks saw the cost of the US dollar rise 1.1 percent higher against the dong at VND19,310 when they opened for business this morning.

Eight companies in 3G bidding

Eight companies are in the fold for Thailand’s upcoming 3G licence auction scheduled for Sept. 28-29.

Chinese invest $8billion in Myanmar

The Chinese have poured more than US$8 billion in new foreign direct investment into Myanmar, May 2010, official figures showed, boosting total contracted FDI since 1988 by more than 50 percent.
READ MORE:$8bn_in_myanmar

Ringgit Rises To Strongest Level

The ringgit rose to its strongest level in more than 28 months on better-than-expected second-quarter gross domestic product (GDP) growth of 8.9 percent and news that Bank Negara Malaysia has eased regulations on ringgit transactions for trade settlement.

Philippines on food insecurity list

The Philippines was among the countries given a “high” rating in food insecurity, according to a survey of 163 economies published in Paris.

Thai oil giant may buy Carrefour

PTT Plc, Thailand’s largest oil conglomerate, PTT Plc, may be in the market to buy Carrefour (Thailand) stores to expand its retail sector, according to an unidentified PTT source.

Seven Indo companies set for IPOs

Seven companies are slated to launch initial public offerings (IPO) in the second half of 2010 to benefit from favorable conditions in Indonesia’s equity market.

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