|Top News from Southeast Asia
February 21, 2011
These were the most significant stories reported by Asean Affairs during the week of February 12- 18.
Vietnam devalues currency
Vietnam devalued its currency to 9.3 dong against the US dollar on Friday for the third time in a year to address economic problems including double-digit inflation.
READ MORE: http://www.aseanaffairs.com/vietnam_news/economy/vietnam_devalues_currency
Thai bank warns of AEC competition
The retail food, packaging and hospitality sectors stand to be the most affected by the arrival of the Asean Economic Community (AEC) in 2015, says the Thai bank, Siam Commercial Bank.
READ MORE: http://www.aseanaffairs.com/thailand_news/economy/thai_bank_warns_of_aec_competition
Philippines economic index rises
The Philippine economy would likely grow in the first quarter of this year, as the composite leading economic indicator (LEI) improved for a sixth straight quarter since the final three months of 2009.
READ MORE: http://www.aseanaffairs.com/philippines_news/economy/philippines_economic_index_rises
New bridge to span Mekong
The fourth new Thai-Lao Friendship Bridge, across the Mekong River in Chiang Rai s, will further increase trade and travel not only between the two countries but also among the six countries in the Greater Mekong Subregion (GMS).
READ MORE: http://www.aseanaffairs.com/thailand_news/infrastructure/new_bridge_to_span_mekong
Transparency vital for Vietnamese investment
Improving the transparency of the business environment at provincial levels was an important factor in attracting urgently needed investment, the vice chairman of the Viet Nam Chamber of Commerce and Industry, (VCCI) Hoang Van Dung announced at a press conference this week. Dung said transparency created trust among investors and reduced fees for searching for information.
READ MORE: http://www.aseanaffairs.com/vietnam_news/investment/transparency_vital_for_vietnamese_investment
Canadian trade mission arrives in Cambodia
Billion-dollar firms, including Blackberry maker Research in Motion and aircraft manufacturer Bombardier, are among the commercial giants taking part in Canada's first trade and investment mission to Cambodia.
READ MORE: http://www.aseanaffairs.com/cambodia_news/trade/canadian_trade_mission_arrives_in_cambodia
Anti-competition, anti-bribery laws to strengthen
The cost of perceived non-compliance with competition and bribery laws in Asia is set to rise as regulators in the region adopt a more hawkish stance.
READ MORE: http://www.aseanaffairs.com/singapore_news/companies/anti_competition_anti_bribery_laws_to_strengthen
Thailand begins alternative energy island projects
Thailand's first low-carbon and eco-friendly community is taking shape on Phaluai island in Surat Thani.
READ MORE: http://www.aseanaffairs.com/thailand_news/environment/thailand_begins_alternative_energy_island_projects
Japanese firms moving to Thailand
Japanese small and medium-sized enterprises (SMEs) may relocate to Thailand over the next five years because of the stronger yen and promising and steady growth of the Thai automotive industry. The public and private sectors were urged to prepare for the movement, especially the rising demands of 250,000 to 300,000 skilled workers at different education levels from secondary school to vocational and engineering school.
READ MORE: http://www.aseanaffairs.com/thailand_news/economy/japanese_firms_moving_to_thailand
Bourse mergers buzz in Asia
The proposed takeover of Australia's ASX Ltd by Singapore Exchange Ltd (SGX) has ignited talks of possible mergers and acquisitions (M&As) among other Asian exchanges amid the growing threat of competition.
READ MORE: http://www.aseanaffairs.com/malaysia_news/capital_markets/bourse_mergers_buzz_in_asia
New deal proposed for exchange merger
The Singapore Exchange (SGX) and the Australian Exchange (SGX) have altered the terms of their proposed buyout in a bid to deflect the political flak the deal is catching Down Under.
READ MORE: http://www.aseanaffairs.com/singapore_news/capital_markets/new_deal_proposed_for_exchange_merger
Rising food prices brings poverty
Rising food prices have pushed about 44 million people into poverty in developing countries since last June, the World Bank has warned.
READ MORE: http://www.aseanaffairs.com/asean_news/economy/rising_food_prices_brings_poverty
Support needed to develop Vietnam green power
The development of green energy to replace hydro- and thermal power requires strong policy backing, experts have said.
READ MORE: http://www.aseanaffairs.com/vietnam_news/environment/support_needed_to_develop_vietnam_green_power
Indonesia imports Vietnamese rice
Indonesia has bought 400,000 tons of 15 percent broken rice from Vietnam for March shipment after Thai exporters could not meet its loading requirements, traders said on Tuesday.
READ MORE: http://www.aseanaffairs.com/indonesia_news/trade/indonesia_imports_vietnamese_rice
High food prices threaten Asia
Surging food prices in India are forcing families to cut back on meat and vegetables. In Indonesia, they prompted the president to urge people to grow their own chili peppers. And in China, restaurant owners are feeling the squeeze.
READ MORE: http://www.aseanaffairs.com/asean_news/commodities/high_food_prices_threaten_asia
Solar projects to increase Demco inventory
The SET-listed contractor Demco Plc expects its construction backlog to expand to 6 billion baht this year after signing an 850-million-baht (US$27.4 million) solar cell construction deal with IFEC Green Power Plus, an alternative energy developer.
READ MORE: http://www.aseanaffairs.com/thailand_news/energy/solar_projects_to_increase_demco_inventory
L’Oreal to build largest factory in Indonesia
L’Oreal Group, the world’s largest cosmetics and beauty company, says it is building its largest factory in the world in Indonesia.
READ MORE: http://www.aseanaffairs.com/indonesia_news/investment/l_oreal_to_build_largest_factory_in_indonesia
Singapore growth of 4-6 percent for 2011
The Singapore economy grew by 14.5 percent in 2010, reversing the decline of 0.8 percent the year before.
READ MORE: http://www.aseanaffairs.com/singapore_news/economy/singapore_growth_of_4_6_percent_for_2011
Vietnamese investors look at Lao exchange
Domestic investors are eager to obtain information about the new Lao stock market since the Laos Securities Exchange officially began trading on January 11.
READ MORE: http://www.aseanaffairs.com/vietnam_news/capital_markets/vietnamese_investors_look_at_lao_exchange
Six percent Malaysian growth is “crucial”
Malaysia is on the way to achieve its developed nation target after gross domestic product (GDP) growth exceeded 6 percent last year, said Prime Minister Datuk Seri Najib Tun Razak.
READ MORE: http://www.aseanaffairs.com/malaysia_news/economy/six_percent_malaysian_growth_is_crucial