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In , and would be most affected by a potential US recession due to their dependence on exports and tourism
Southeast Asia could be seriously affected in case the US falls into recession, but some countries will be more badly hit than others, economists told news portal CNBC. The US has already reported two consecutive quarters of negative growth in
Group leads a consortium backed by South Korean and European companies and approved by the Philippine Government, with an $11-billion deal to develop the Sangley Point International Airport (SPIA).
The Philippine government has awarded a consortium backed by South Korean and European companies and led by Samsung Group’s construction arm the $11-billion deal to develop the Sangley Point International Airport, or SPIA, in Cavite south of Metro Manila The
's edtech startups attract more and more international venture capital in a booming industry
Innovative educational technology companies (edtechs) in Vietnam are increasingly on the radar of international private equity firms as education gets more digitised not only in the country itself, but in the entire Southeast Asian region, partly as a result of
-based banking group DBS partnered with a blockchain-based Metaverse gaming platform, The Sandbox, to develop new services for customers in the interactive, three-dimensional environment.
Singapore-based banking group DBS, Southeast Asia’s largest lender by assets, has teamed up with The Sandbox, a blockchain-based Metaverse gaming platform, to develop new services for customers in the three-dimensional virtual environment which includes digital avatars. The Sandbox, a division
Singapore-based banking group DBS, together with The Sandbox, plans to develop new services for customers in the virtual environment to create an interactive experience.
Singapore-based banking group DBS, Southeast Asia’s largest lender by assets, has teamed up with The Sandbox, a blockchain-based Metaverse gaming platform, to develop new services for customers in the three-dimensional virtual environment which includes digital avatars. The Sandbox, a division
With a debt crisis alongside fuel and consumer good price hike, inflation continues to soar in , jumping from 25.6 per cent back in July to 30.1 per cent in August.
Faced with a debt crisis and various other economic problems, Laos saw its inflation jumping to 30.1 per cent year-on-year in August from 25.6 per cent in July, according to the latest report from the Lao Statistics Bureau. Higher prices
Chinese car company Cherry Automobile plans to create a factory in Vietnam by 2023, allowing them to build localized vehicles and optimize the company’s potential in Vietnam.
Chinese car maker Chery Automobile plans to set up a factory in Vietnam by next year to sell locally produced models in the country rather than import them, online news portal VnExpress reported. “We want to build a factory in
's electric vehicle maker is starting global deliveries of its first batch of cars, targeting customers in the US, Canada and Europe
Vietnamese electric vehicle maker VinFast will ship about 5,000 vehicles to customers in the US, Canada and Europe in early November, according to a statement from parent company Vingroup, a diversified holding run by the country richest person, billionaire Pham
revives a plan to build a connection with Sumatra, across the Malacca Strait, this time a bridge or a tunnel in a project which could take 20 years to finish
A new route – either a bridge or a tunnel – spanning 120 kilometers is planned by a private consortium to link Malaysia’s coast with a landing point in the adjacent Riau province of Indonesia’s island of Sumatra, crossing a
Chinese manufacturing company Auto plans to build an electric vehicle plant in Thailand, investing $490.5 million to purchase land and set up a facility in Rayong Province.
Chinese car maker BYD Auto said it would set up a facility in Thailand to start producing 150,000 passenger cars per year from 2024. The company would invest 17.9 billion baht ($490.5 million) to purchase 96 hectares of land in
US co-working company opened its newest flagship office tower at the heart of Singapore’s Raffles Place central business district.
US co-working company WeWork has unveiled its flagship office tower in Singapore as it expands in the Asian financial hub, which is among its fastest growing markets. WeWork, majority-owned by Japan’s SoftBank Group, moved into 21 Collyer Quay at the
may be the solution to overcome military rule, some Myanmar activists believe. As they push an endorsement from the US Federal Reserve, they hope to use frozen funds to back a digital currency and establish a new central bank for the opposition.
Myanmar exiles ousted in a 2021 coup are pressing the US Federal Reserve to endorse their bid to use billions of dollars in funds frozen by the US to back a digital currency. This would enable them to establish a
's telecom group Ooredoo calls it quits in as the business environment has become too toxic under military rule https://bit.ly/3RFhYWR
Qatari telecommunications company Ooredoo is about to sell its Myanmar operations to Singapore-headquartered technology firm The One Matrix Ventures, Reuters reported, referring to insiders. Ooredoo is the last remaining majority foreign-owned telecom company in Myanmar after its main competitor, No...
By the end of 2022, Indonesia plans to launch a crypto stock exchange as a means of protecting consumers as interest in digital currencies has gone up.
The Indonesian government is planning to establish its envisaged “crypto stock exchange” by the end of 2022, DealStreetAsia cited the country’s deputy trade minister Jerry Sambuaga as saying. Originally set to launch in 2021, the realisation of the bourse was
Creditors agree to Thai Airways' rehabilitation plan, paving the way for a recovery of 's embattled national airline https://bit.ly/3elSYFw
Thailand’s embattled flag carrier Thai Airways International has set the course to recovery as its creditors have accepted the carrier’s revised rehabilitation plan The airline reported to the Stock Exchange of Thailand on September 1 that creditors who hold 78.59
petroleum firms launch joint venture to produce sustainable aviation fuel from used cooking oil which is widely available in the country https://bit.ly
A ten-year prison sentence awaits Rosmah Mansor, the wife of Malaysian ex-prime minister Najib Razak, after prosecutors claim her defense was “bare denial and unsubstantiated.”
The wife of the former Malaysian prime minister Najib Razak, Rosmah Mansor, has been sentenced to ten years in prison for soliciting and receiving bribes in exchange for government contracts. The sentence by Malaysia’s High Court came just one week
Despite a drop in the market and an increase in regulations, Singaporean adults who own cryptocurrency increased from 16 percent last year to 20 percent.
Cryptocurrency adoption in Singapore has risen despite a hardline approach of the city-state’s financial market regulator, a new survey shows. According to data from Australia-based comparison website Finder.com, 20 per cent of Singaporean adults currently own cryptocurrency, up from 16
Indonesian e-commerce company declared a half-year net loss of 14.17 trillion rupiah. In another development, the company also purchased local crypto exchange Kripto Maksima Koin.
Indonesia’s biggest e-commerce company GoTo on August 30 posted a half-year net loss of 14.17 trillion rupiah ($955 million), more than double compared with the loss of 6.62-trillion rupiah it recorded in the same period last year. The tech firm,
now has its first domestic cargo airline, IPP Air Cargo, which plans to take off in November, serving multinational companies manufacturing in the country, while an agriculture goods air transport deal with Australia is also in the making https://bit.ly/3PWzLro
Vietnam’s first cargo airline, privately owned IPP Air Cargo, is ready to take to the skies as early as November this year after receiving the necessary licenses fir its operations The airline has already received its air transport license but
's currency, the kyat, has steadily dropped since the 2021 coup and this August reached an all-time low against the US dollar, disrupting trade and further dragging the country's economy down https://bit.ly/3e5n3ck
Myanmar’s currency, the kyat, is continuing its rapid devaluation and has reached a record low against the US dollar and other major currencies in the course of August. The Central Bank of Myanmar on August 5 changed its reference exchange
Debt burden of 's households reaches 16-year high on economic troubles from Covid-19, higher cost of living and subdued tourism https://bit.ly/3e3DDcQ
Thailand’s households are struggling with the highest level of debt in 16 years, mainly owing to the prolonged Covid-19 pandemic and slow economic growth, according to the latest survey by the University of the Thai Chamber of Commerce. The survey,
faces more then 12% drop in foreign direct investment this year through August 20 as the uncertain geopolitical situation, supply chain problems and inflation take their toll https://bit.ly/3crGVpB
Vietnam received nearly $16.8 billion in foreign direct investment as of August 20, down 12.3 per cent year-on-year, according to the country’s Foreign Investment Agency under the Ministry of Planning and Investment. In the period, a remarkable decrease was seen
's ride-hailing and e-commerce group Grab is rapidly losing market capitalisation and struggles to keep up with competitor GoTo in Indonesia https://bit.ly/3RaCjmD
Singapore-headquartered Grab, a ride-hailing-turned-e-commerce group and once Southeast Asia’s most valuable startup, is falling behind Indonesian competitor GoTo in the public financial markets. The downturn comes as Grab struggles to gain ground against its rival, particular on the latter’s po...
Hawkers in are rising prices significantly as inflation starts biting the famed street-side eateries https://bit.ly/3pLy05G
In Singapore, hawker centers are one segment of the service economy directly affected by the city-state’s rising inflation. The famed low-cost eateries were forced to raise prices at the food stalls, which serve local favorites like Hainanese chicken rice, fish
Following a massive corruption scandal, ’s ex-prime minister Najib Razak has been finally sent to jail to serve a 12-year sentence.
Najib Razak, prime minister of Malaysia between 2009 and 2018, has finally been sent to jail to start serving a 12-year sentence for his role in the massive corruption scandal involving the country’s state-owned wealth fund 1Malaysia Development Berhad, or
In an effort to boost production in , Taiwanese Apple supplier invests $300 million more into expanding its manufacturing facilities in the north of the country.
Apple supplier Foxconn has signed a memorandum of understanding with Vietnamese developer Kinh Bac City to expand its existing manufacturing facility in the north of the country to diversify and boost production with an additional investment of $300 million, Tuoi
wants to build a “huge ecosystem of electric cars” in the country, and on top of making batteries, urges US company to manufacture their cars there.
Indonesia has urged US electric vehicle maker Tesla to manufacture its cars and vehicle batteries in the country, Bloomberg News cited the nation’s President Joko Widodo as saying. Widodo said in an interview that Indonesia wants to build up a
Cheers! bubble tea aficionados spend $3.7 billion on their beloved beverages a year, study finds https://bit.ly/3K9Avb5
Bubble tea connoisseurs in Southeast Asia spend $3.66 billion a year on the beverage and its many variants, a new study jointly conducted by Singapore tech venture enabler Momentum Works and digital payments firm Qlub found. The largest market by
Tourism arrivals in recover rather slowly from the pandemic amid the current various global problem factors, but also because of the waning attraction of the country as a holiday destination https://bit.ly/3pOsxLv
Thailand saw just 3.78 million tourist arrivals from January to mid-August, a government official said on August 19 as arrival numbers are just slowly recovering from the great Covid-19 slump during the past two years. The arrivals were mainly from
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#IV While the world waits for a vaccination against COVID-19, #Singapore preps a different kind of injection to help its citizens and economy fight today's most pressing challenges. Read the full article here: http://bit.ly/37JKor7
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