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Asean Affairs 23 October 2011
By David Swartzentruber
AseanAffairs 23 October 2011
These were the most news worthy stories published by Asean Affairs during the week of October 15-21.
Thai companies to remain open
Most businesses in Bangkok are still operating normally.
READ MORE: http://www.aseanaffairs.com/thailand_news/economy/thai_companies_to_remain_open
Thai Infrastructure Fund planned
The Thai finance ministry will propose a stock exchange-listed Infrastructure Fund to mobilise public funds to invest in infrastructure projects now that many industrial estates have been devastated by flooding, Finance Minister Thirachai Phuvanatnaranarubala said.
Number of wealthy rises in Indonesia
Indonesia’s wealthy population surged by almost a fifth year-on-year in August, a rate at three times the projected economic growth.
READ MORE: http://www.aseanaffairs.com/indonesia_news/economy/number_of_wealthy_rises_in_indonesia
24 Philippine soldiers killed in Basilan
The Philippine military suffered a huge loss on Tuesday when 19 soldiers were killed in a fierce gun battle with members of the Moro Islamic Liberation Front (MILF) in Basilan province in southern Philippines.
READ MORE: http://www.aseanaffairs.com/philippines_news/security/24_philippine_soldiers_killed_in_basilan
First oil produced in offshore Vietnam
Santos Ltd (STO.AU) said this week that oil production has begun at the US$800 million Chim Sao project offshore southern Vietnam.
Indonesian government installs new cabinet
President Susilo Bambang Yudhoyono installed seven new ministers and 13 deputy ministers during a ceremony at the State Palace on Wednesday.
READ MORE: http://www.aseanaffairs.com/indonesia_news/politics/indonesia_government_installs_new_cabinet
Thailand moves on water management
After years of inaction, with flood waters lapping at Bangkok’s suburbs, the Thai government has decided to draft a special law to invest in water management systems to mitigate the impact of floods, Finance Minister Thirachai Phuvanatnaranubala said.
Thai industries hit by flooding
California-based Western Digital, the world's largest hard-disk drive (HDD) maker, expects its exports from Thailand will decrease by 40 percent this year due to the severe flooding.
Asia-Pacific countries meet on trade deal
The United States and eight other Pacific countries hope to announce the crux of a major trade deal at an Asia-Pacific summit next month, officials said Monday, a step toward an elusive APEC-wide accord.
Floods to impact Thai corporate earnings
The floods in Thailand and the slowing global economy will likely trim earnings growth of Thai-listed companies to as low as 7 percent in 2012,a Thai securities firm and economists say.
Cambodia needs more infrastructure
Cambodia needs more than an estimated US$13 billion in infrastructure works by 2020 if the country intends to continue attracting foreign investment, a joint survey by some of the world’s top financial institution indicated on Wednesday.
READ MORE: http://www.aseanaffairs.com/cambodia_news/infrastructure/cambodia_needs_more_infrastructure
Singapore’s exports contract
Singapore's non-oil domestic exports (NODX) contracted 4.5 percent in Sept 2011 compared to a year earlier, due to a 14 percent decline in electronic NODX
outweighing the expansion in non-electronic NODX, IE Singapore said on Monday.
READ MORE: http://www.aseanaffairs.com/singapore_news/trade/singapore_s_exports_contract
Delay in Thai wage hike requested
The Employers Confederation of Thailand and the Federation of Thai Industries have called on the Central Wage Committee to postpone considering the 300-baht minimum pay rise decision for six months.
Industry groups oppose Indo export tax
Indonesian industry groups said on Thursday that they would oppose any plan by the government to impose duty on the export of power plant fuel.
Aquino assures business community
Philippines President Benigno Aquino 3rd assured members of the business community and the public that the government is “ready to deal” with economic uncertainties the world is facing today that have impacted the Philippines.
READ MORE: http://www.aseanaffairs.com/philippines_news/economy/aquino_assures_business_community