|Top News from Southeast Asia
September 4 , 2011
These were the most newsworthy stories published by Asean Affairs during the week of August 27-September 2.
Malaysian exports led by commodities
Demand for commodities from China and India will remain the main
pillar of support for Malaysia's exports in July as in the previous
month with the export-reliant manufacturing sector continuing to feel
the impact from a drop in sales of consumer electric and electronic
(E&E) goods from the United States and Europe.
READ MORE: http://www.aseanaffairs.com/malaysia_news/trade/malaysian_exports_led_by_commodities
Philippine hot money flows double
Foreign portfolio investment inflows in the first three
weeks of August nearly doubled from a year ago amid investors’ improved
risk appetite for emerging assets.
READ MORE: http://www.aseanaffairs.com/philippines_news/investment/philippine_hot_money_flows_double
Thai inflation accelerates
Inflation accelerated in August at the fastest pace in 35 months as food and energy prices rose.
READ MORE: http://www.aseanaffairs.com/thailand_news/economy/thai_inflation_accelerates
New demand pushes rice price
New demand from Nigeria and Indonesia and speculation about
aggressive government intervention pushed Thai rice to 1-1/2 year highs
this week, while Vietnamese prices began to ease as well-stocked buyers
stayed on the sidelines, traders said on Wednesday.
READ MORE: http://www.aseanaffairs.com/indonesia_news/commodities/new_demand_pushes_rice_price
Male bosses dominate Singapore
Men continue to predominantly hold leadership roles in Singapore's
private sector, according to the Randstad Workmonitor Report which
tracks gender diversity and job trends.
Australian court voids refugee swap
Australia's highest court has ruled that Australia cannot send asylum seekers to Malaysia as part of a new refugee swap deal.
Investment fund likes Philippines
The biggest pension fund in the United States said it hiked by a
fourth its investments in the Philippine stock market in the first five
months of the year, tracking the global movement of foreign money from
developed to emerging markets.
Red shirts receive political appointments
In a move that could be risky, the new Pheu Thai government has
appointed a number of persons from the red shirt group to political
roles. Following a failure to disperse on May 19 last year, the red
shirts staged an arson attack on private and government buildings that
cost the Thai economy millions of dollars. More than 90 lives were also
lost when the red shirts and Thai soldiers engaged in a cross-fire after
the red shirts failed to disperse.
Malaysia FDI surges
Foreign direct investments (FDIs) surged to RM21.3 billion (US$7.2
billion) in the first six months of the year in Malaysia compared with
RM12.1bil a year earlier.
Vietnamese banks raise reserves
The State Bank of Viet Nam yesterday raised the foreign
currency compulsory reserves ratio for commercial banks by 1 percentage
point to 8 percent of total deposits in a move to limit the growing
number of new loans being made in US dollars.
KL attracts Singapore investors
Sky-high prices and tighter financing rules are sending increasing
numbers of Singaporeans across the Causeway to snap up property.
Philippines to have “single window” customs
The Bureau of Customs said it would complete the interconnection of
the National Single Window and electronic to mobile system in two months
despite a conflict in warranties.
Tony Tan wins close election
Former deputy prime minister Tony Tan has secured victory after a
recount in Singapore's presidential election, with the razor-thin
winning margin exposing sharp divisions in the electorate.
Indo central bank holds on rate increase
Indonesia’s central bank prefers not to raise rates, in case it
needs to counter a spike in fuel prices or a bubble in auto loans next
year, analysts said.
Revised Thai fiscal budget in January
The revised fiscal budget for 2012 is not expected to reach
parliament until January, but in the meantime the government has access
to 1.035 trillion remaining in the budget for the 2011 fiscal year,
which ends September 30.
READ MORE: http://www.aseanaffairs.com/thailand_news/economy/revised_thai_fiscal_budget_in_january