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WEEKLY SUMMARY

By  David Swartzentruber

AseanAffairs     31 October 2010

These were the most significant stories that AseanAffairs reported during the week of October 23-31.

Asean faces rate dilemma
Asian countries are facing a difficult dilemma - if they increase interest rates to curb demand fuelled by foreign capital inflows, they risk inducing even more inflows, Anoop Singh, the IMF director for Asia-Pacific for the International Monetary Fund (IMF) says.
READ MORE: http://www.aseanaffairs.com/asean_news/economy/asean_faces_rate_dilemma

Philippines central bank raises reserves
THE Philippine central bank again raised its international reserves forecast after the country's dollar cache breached the full-year goal at end-September. Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said the country's gross international reserves (GIR) may reach between $54 billion and $55 billion this year, from an earlier forecast of between $49 billion and $50 billion.
READ MORE: http://www.aseanaffairs.com/philippines_news/economy/philippines_central_bank_raises_reserves

Asean to challenge Asia's giants
The leaders of the 10 Asean member countries will convene this week to discuss a new master plan for enhancing ties and building new infrastructure that would allow the group to compete with rising economic giants China and India.
READ MORE: http://www.aseanaffairs.com/asean_news/infrastructure/asean_to_challenge_asia_s_giants

Cambodia issues stock exchange licenses
The Securities and Exchange Commission of Cambodia has issued licenses to at least five firms to act as brokers, dealers and underwriters on Cambodia's new stock exchange.
READ MORE: http://www.aseanaffairs.com/cambodia_news/capital_markets/cambodia_issues_stock_exchange_licenses

Thai-China high speed rail is a go
A joint Thai parliamentary meeting on Tuesday approved a proposed draft framework of Thailand-China negotiations to construct a high speed train system in Thailand. The meeting voted 295 to 10 in favour of the draft framework approved by the cabinet last month.
READ MORE: http://www.aseanaffairs.com/thailand_news/infrastructure/thai_china_high_speed_rail_is_a_go

Australian lawmakers question Singapore exchange bid
Australian lawmakers on Tuesday signaled they might scuttle the Singapore Exchange's $8.3 billion cash and shares bid for the operator of the Australian bourse. READ MORE: http://www.aseanaffairs.com/singapore_news/capital_markets/australian_lawmakers_question_singapore_exchange_bid

Laos to develop renewable energy
The Ministry of Energy and Mines expects to complete a draft of the renewable energy development strategy and will submit it to the government for approval by the end of this year.
READ MORE: http://www.aseanaffairs.com/laos_news/energy/laos_to_develop_renewable_energy

Philippines remains corrupt
THE country's ranking in global corruption improved during the past three years, but the country is still tagged as "highly corrupt" among 178 countries, according to a Transparency International (TI) survey.
READ MORE: http://www.aseanaffairs.com/philippines_news/politics/philippines_remains_corrupt

Asean to fast-track AEC plan
The leaders of the 10 Southeast Asian countries who are Asean members will move on Thursday to fast-track an ambitious plan to establish the Asean Economic Community by 2015 while hoping to dodge discord over military-ruled Myanmar.
READ MORE: http://www.aseanaffairs.com/asean_news/politics/asean_to_fast_track_aec_plan

Indonesia wants common Asean currency
Indonesia is arm-twisting fellow members of the Association of Southeast Asian Nations (Asean) to adopt a common currency stance ahead of next month's Group of 20 summit to aid progress on a broader policy initiative.
READ MORE: http://www.aseanaffairs.com/indonesia_news/economy/indonesia_wants_common_asean_currency

Thai central bank lifts growth forecast
The Bank of Thailand expects the strong baht and widespread flooding to have a minimal impact on the economy in 2011.
READ MORE: http://www.aseanaffairs.com/thailand_news/economy/thai_central_bank_lifts_growth_forecast

Intel opens its biggest chip plant in Vietnam
US-based chip maker Intel on Friday opened in Vietnam a billion-dollar assembly and test facility billed as the company's biggest.
READ MORE: http://www.aseanaffairs.com/vietnam_news/it_&_electronics/intel_opens_its_biggest_chip_plant_in_vietnam

By

Paul A. Ebeling, Jnr