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May 4, 2012

ASEAN News, May 04, 2012

Asean integration to create new 'growth force', says ADB economist
Inquirer.net (blog)
Changyong Rhee, chief economist of the Asian Development Bank, speaks at a press conference titled "Asian development, outlook 2011, south-south economic links" in Hong Kong on April 6, 2011. Strengthening economic links between countries in the south, ...
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ASEAN Infrastructure Fund launched
BusinessWorld Online Edition
A MULTIMILLION-DOLLAR infrastructure fund for the region was launched yesterday by the Asian Development Bank (ADB), with an official saying that at least one project may receive financing this year. "Hopefully this year [we can finance] at least one ...
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East Asian countries double size of crisis fund
CNBC.com
MANILA, Philippines - Southeast Asian countries and their major trading partners China, Japan and South Korea agreed Thursday to double a regional financial crisis fund to $240 billion. The fund, known as the Chiang Mai Initiative after the northern ...
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ADB Launches US$485-Million Fund To Finance ASEAN Infrastructure Projects
Manila Bulletin
By EDU LOPEZ MANILA, Philippines — The Association of South East AsianNations' (ASEAN) largest financing initiative, the US$485-million ASEANInfrastructure Fund (AIF), is set to commence operations following its board's first meeting on the ...
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LEAD: ASEAN, Japan, China, South Korea Boost Foreign Currency Reserve
LoanSafe
Manila (Source Girlie Linao dpa, Hamburg, Germany (MCT)) – East Asianfinance ministers and central bank governors on Thursday agreed to double a foreign currency reserve pool to 240 billion dollars to better protect the region from external financial ...
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Asean, African Union Enhance Cooperation
Bernama
JAKARTA, May 4 (Bernama) -- ASEAN and Africa Union have agreed to step up bilateral cooperation in a number of fields, the ASEAN Secretariat in a press release Thursday. The consensus was reached during a recent meeting between ASEAN Secretary General ...
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East Asian nations agree to double regional currency swap scheme
The Japan Times
MANILA — Finance ministers and central bank governors from the 10-member Association of Southeast Asian Nations plus Japan, China and South Korea agreed Thursday to double the size of a multilateral currency swap arrangement to $240 billion in a bid ...
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ASPFI's first Asian Film Festival kicks off
Manila Bulletin
By JULIEN MERCED C. MATABUENA MANILA, Philippines – Noble causes play an important part in the establishment of the Asia Society Philippine Foundation Inc. and the Film Development Council of the Philippines' latest undertaking, the Asian Film Festival ...
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ASEAN job market faces change
TTR Weekly
BANGKOK, 4 May 2012: Tourism experts say Thailand's labour force will face a substantial challenge when the ASEAN Economic Community kicks in 2015. There are 32 categories in the workforce that will open up to ASEAN member country citizens, ...
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TTR Weekly
ASEAN launches website to assist consumers on products, redress, opportunities
The Online Zamboanga Times
JAKARTA — The ASEAN Committee on Consumer Protection has launched the ACCP Website (www.aseanconsumer.org) at its 5th meeting in Bali, Indonesia. It intends to help consumers on matters pertaining to recalled/banned products, consumer redress ...
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Asean infra fund to start lending to members
Inquirer.net (blog)
The Association of Southeast Asian Nations expects to start giving out within the year loans from the $485-million Asean Infrastructure Fund (AIF), whose governing board met Thursday for the first time. Administered by the AsianDevelopment Bank, ...
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ASEAN, 3 partners agree to boost Chiang Mai Initiative
The Daily Yomiuri
MANILA (Jiji Press)--Finance chiefs from the 10 members of the Association of Southeast Asian Nations and their three dialogue partners--Japan, China and South Korea--reached an accord Thursday to boost their emergency dollar swap program to tackle ...
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Asean Launches Consumer Protection Web Site
Jakarta Globe
The Association of Southeast Asian Nations has just launched a new Web site focusing on consumer protection. The Asean Committee on Consumer Protection (ACCP) announced the launch of www.aseanconsumer.org at a meeting in Bali on Friday in a press ...
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Business Groups Nix Tax Increases
Manila Bulletin
MANILA, Philippines — Two top American business organizations – US Chamber of Commerce and US ASEAN Business Council – have raised their concerns before the House of Representatives over the impact of a pending tax bill that seeks to impose high tax ...
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Scarborough dispute may derail Asian economic plan
Inquirer.net (blog)
The conflict between China and the Philippines over the resource-rich Scarborough Shoal is likely to derail plans of selected Asiancountries to integrate their economies by 2015, a chief economist and a social science expert from the two countries ...
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Inquirer.net (blog)
PH should hit China with trade tariffs
Asianjournal.com
At the same time, Lewis cited the Department of Foreign Affairs (DFA) for its diplomatic offensive in Asean and currently in the US. “The DFA is on the right track, doing it diplomatically. That is the correct way of solving the dispute at this point,” ...
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ASEAN, Japan, China, South Korea boost foreign currency reserve
Business Recorder (blog)
East Asian finance ministers and central bank governors on Thursday agreed to double a foreign currency reserve pool to 240 billion dollars to better protect the region from external financial shocks. Officials from Japan, China, South Korea and the 10 ...
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Philippines renews $6 billion swap deal with Japan, gets Korean loan
euronews
ASEAN +3 countries agreed on Thursday to boost the size of an emergency currency protection fund, Chiang Mai Initiative Multilateralisation (CMIM), to $240 billion by November, while cutting the amount tied to an IMF programme to 70 percent from 80...
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euronews
E. Asia expands emergency liquidity
China Post
MANILA -- China, Japan and South Korea took steps on Thursday to tie their markets closer and agreed with their smaller Asian neighbors to boost their emergency protection against financial shocks. The ASEAN+3 regional grouping agreed to double the ...
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ASEAN Secretariat HQ declared 100 pct smoke-free building
Thai News Agency MCOT
Jakarta, May 4 (ANTARA) - The Association of Southeast Asian Nations (ASEAN) sets a healthy example for the rest of the region, by declaring its own headquarters in Jakarta, Indonesia, officially smoke-free. ASEAN Secretary-General Dr. Surin Pitsuwan, ...
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ASEAN launches infra fund in ADB event
The Online Zamboanga Times
MANILA — Finance ministers of the Association of South East Asian Nations (ASEAN) launched Thursday the ASEAN Infrastructure Fund (AIF) with an initial pooled equity amounting to US$ 485 million. In a briefing at the sidelines of ADB's 45th Governors ...
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Central banks in East Asia boost bond ties
China Daily
"Today's statement from the three countries shows the governments will enhance the status of Asian currencies by encouraging investment within the region," Bloomberg quoted Choi Seok-won, head of research at Hanwha Securities Co in Seoul, as saying.
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China Daily
Taiwan's central bank governor calls for currency coordination
Focus Taiwan News Channel
Manila, May 4 (CNA) Taiwan's central bank governor called for the establishment of an official currency coordination mechanism at the annual conference of the Asian Development Bank (ADB) Friday. Perng Fai-nan, governor of the Central Bank of the ...
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Asia's credit markets need to help fill funding gap
The Nation
Asian credit markets have the opportunity to help fill the funding gap for companies and projects in the region that could struggle to tap sufficient and cost-effective funding from traditional banking sources, Standard & Poor's Ratings Services ...
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Rights groups: Asian media freedoms under fire
Mizzima News
In a report marking World Press Freedom Day, the Southeast Asian Press Alliance (Seapa) says Southeast Asian governments are turning to new legislation in a bid to control new media. Seapa says the key trend is that governments are shifting focus from ...
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ADB exec welcomes increase in Chiang Mai Initiative Fund
The Online Zamboanga Times
In a statement, Iwan J. Azis, ADB Office of Regional Economic Integration head, said this development “indicate an ongoing desire for ASEAN+3 countries to work together to ensure mutual support should the need arise.” “We expect such regional ...
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2013 Ford Focus to be produced in surprising location
Torque News
Just as Hyundai builds its US cars here (in Alabama), Ford builds cars for the Asian market in Asia. Thailand is the world's 12th largest automaker nation despite its size. It has recently become a hot spot of manufacturing for Southeast Asia with 6 of ...
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Torque News
CP Group lures China's SAIC to set up carmaking base here
The Nation
SAIC has approached CP Group to be its partner here to set up a factory aimed at exports not only to Asean countries but other destinations as well. They are looking for a location for the production base. Initially, production capacity in Thailand ...
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The Nation
Members Of EU Parliament Reaffirm Strong Singapore-EU Ties
Bernama
SINGAPORE, May 4 (Bernama) -- The European Parliament's Delegation to Southeast Asia and ASEAN (DASE) reaffirmed the strong Singapore-EU ties and looked forward to the conclusion of the EU-Singapore Free Trade Agreement (EUSFTA) and the EU-Singapore ...
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The Visit Of Sultan Of Brunei To Turkey And Turkey's ASEAN Policy - Analysis
Eurasia Review
Developing commercial relations with Brunei in order to bring variety to the Turkish economy will also be useful in opening up the Southeast Asian market. Brunei has one of the highest incomes per capita in the world at around $50000 dollars a year, ...
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Eurasia Review
Ford opens new plant, vows major local sourcing of parts
Bangkok Post
The $800 million in purchases will go to achieving 40% local Asean content, a requirement for automakers wanting to export the vehicles duty-free within the region. Ford will hire 2200 workers for the new manufacturing facility.
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Homebuilders told to learn English
Bangkok Post
Thai homebuilders need to improve their professional standards and English language skills as well as build up their brands and databases to stay competitive in an open market environment by 2015 for the Asean Economic Community.
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Dirty-money law reform urged
Bangkok Post
Delays in strengthening Thailand's laws against money laundering and terrorist financing activities have had a direct impact on international business and could undermine plans to link Asean capital markets later this year, say business leaders.
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Anti-dumping Measures: Easing the transition to free trade
Bangkok Post
Many businesses in Asean countries continue to adjust to the changes brought about by the elimination of import duties, in the context of both the AseanEconomic Community and other bilateral and multilateral free trade agreements.
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ASIA DOUBLES FINANCIAL SAFETY NET TO $240B
Manila Standard Today
SONNY ESPIRITU The Asean+3 countries, as the group is known, will also set up a precautionary credit line to let members tap the pool to prevent a crisis, and will allow more funds to be used without being linked to an International Monetary Fund ...
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TEXT-S&P Revises Bumi Outlook To Negative, Affirms 'BB' Rating
Reuters UK
We are also lowering our ASEAN scale rating on Bumi to 'axBB+' from 'axBBB-' following our revision on the outlook. Rating Action On May 4, 2012, Standard & Poor's Ratings Services revised its outlook on Indonesia-based thermal coal producer PT Bumi ...
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Servcorp ready to meet the new challenges in Bangkok
Bangkok Post
With Thailand looking set to become a key international internet gateway (IG) for the Asean Economic Community (AEC) in 2015, the appeal of Bangkok as a business location in Asia continues to grow. One of Asia's best known providers of serviced and ...
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Bangkok Post
China: Size obscures reality
Asian Correspondent
The above statistics are from an editorial written for the Japan Times by the former US ambassador to the Asian Development Bank (ADB), Curtis S. Chin. Chin further asserts that China has lead the world in speed and numbers when it comes to pulling ...
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ASEAN, China, Japan and South Korea ... - Live Trading News
By Shayne Heffernan
ASEAN, China, Japan and South Korea ( ASEAN+3) have agreed to strengthen the regional financial safety net during the 15th ASEAN+3 Finance Ministers and Central Bank Governors' Meeting held in Manila Thursday. The attendees ...
Live Trading News
Thai-ASEAN News Network - Karen Militant Leader Threathens ...
The leader of a Karen militant group in Myanmar threatens to close the Thai- Burmese border near Tak Province if the Thai government does not remove his...
www.thailandoutlook.tv/tan/ViewData.aspx?DataID=1054560
Thai-ASEAN News Network - Saree Samui: 'Community First ...
Saree Samui, a resort based on the island of Koh Samui in the southern province of Surat Thani, set out by adopting a strategy that prioritizes the use of...
www.tannetwork.tv/tan/ViewData.aspx?DataID=1054465
Asian Nations Double Fund to Fend Off Liquidity Crises
Asean+3, made up of the 10 members of the Association of Southeast AsianNations plus Japan, China and South Korea, ... Personalize your own newspage ...
online.wsj.com/.../SB10001424052702304743704577381771...
LEAD: ASEAN, Japan, China, South Korea Boost Foreign Currency Reserve
Manila (Source Girlie Linao dpa, Hamburg, Germany (MCT)) – East Asianfinance ministers ... posted by Alex Ferreras on May 3, 2012 in Latest FinancialNews ...
www.loansafe.org/lead-asean-japan-china-south-korea-boost-f...
Daily Press Monitoring - News & Resources | News | ASEAN News
ASEAN-KOREA CENTRE · Centre Activities · News & Resources · Trade&Investment ... News. E-news; Press Release; Media Coverage; Speech; ASEAN News ...
www.aseankorea.org/program/board/detail.jsp?...
ASEAN Infrastructure Fund launched
... the region was launched yesterday by the Asian Development Bank (ADB), with an official ... ASEAN Infrastructure Fund launched ... News, lies, and videotape ...
www.bworldonline.com/content.php?section...title...id...

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