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☆ In the EV future, Thailand, the 'Detroit of Asia,' could be a key China hedge for automakers
▼ + stars: | 2024-05-12 | by ( Vikram Barhat | ) www.cnbc.com time to read: +4 min

In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTVisitors inspect a Tesla Model Y car during the 40th Thailand International Motor Expo at the Impact Challenger hall in Nonthaburi. A Trump reelection is not even necessary: the Biden administration may introduce 100% tariffs on Chinese EVs next week, according to reporting on Friday. Chinese EV makers, including BYD, have earmarked $1.44 billion in new production facilities in Southeast Asia's second-largest economy. Tesla Thailand recently rolled out a special financing program to spur more sales. Southeast Asia is a growing auto market, and Thailand is already the region's biggest car producer and exporter, with Toyota, Honda, Nissan, Ford, GM and Mercedes-Benz having already embraced Thailand as a regional headquarters.

Persons: Goldstein, Donald Trump, Trump, Biden, There's, Tu Le, Tesla, Le, Steven Dyer, AlixPartners, Frank, Walter Steinmeier Organizations: Tesla, Getty, Auto, Nurphoto, Nikkei, Krungsri Securities, Nikkei Asia, Ford, Toyota, Honda, Nissan, GM, Mercedes, Benz Locations: Thailand, Nonthaburi, U.S, Southeast Asia, Beijing, Detroit, China, Trump, Bangkok, Nonthaburi Province, Nikkei Asia, Southeast Asia's, Shanghai

☆ China's imports jump 8.4% in April, exceeding expectations as purchases from the U.S. grow
▼ + stars: | 2024-05-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Aly Song | ReutersBEIJING — China's customs agency released data Thursday that showed exports rose in-line with expectations in April, while imports surged ahead of forecasts. Worldwide, China's exports rose by 1.5% year-on-year in April in U.S. dollar terms, while imports climbed by 8.4%, the data showed. China's exports to ASEAN rose by 8% in April from a year ago, while imports rose by 5%. In April, China's imports and exports of integrated circuits rose from a year ago, the data showed. By volume, China's exports of cars, LCD panel displays and home appliances rose, while exports of cellphones fell slightly.

Persons: Aly Song Organizations: Reuters, CNBC, U.S, Association of Southeast, ASEAN Locations: Yangshan, Shanghai, China, Reuters BEIJING, U.S, Union, Russia, Nations, Vietnam, Mexico

☆ Amazon's AWS to double down on Singapore with additional $9 billion cloud investment
▼ + stars: | 2024-05-07 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

BARCELONA, SPAIN - JANUARY 31: A logo sits illuminated outside the Amazon Web Services (AWS) booth at ISE 2023 and IOT Solution World Congress at Fira Barcelona on January 31, 2023 in Barcelona, Spain. (Photo by Cesc Maymo/Getty Images)SINGAPORE — Amazon Web Services on Tuesday said it will invest an additional 12 billion Singapore dollars (about $8.87 billion) over the next five years to grow its cloud infrastructure and services in Singapore. "The investment will go into the construction and build up of the DC capabilities, all associating with the Asia-Pacific Singapore region," Priscilla Chong, country manager of AWS Singapore, told CNBC's "Street Signs Asia" on Tuesday. The U.S. tech giant's cloud computing arm launched its first Asia-Pacific region in Singapore in 2010 – its first foray outside of the U.S. and Europe. Since then, AWS said it has pumped over SG$11 billion into Singapore's cloud infrastructure and ecosystem.

Persons: Cesc Maymo, Priscilla Chong, CNBC's, Chong Organizations: Amazon Web Services, Fira Barcelona, Integrated Systems, Services, AWS Singapore, ASEAN Locations: BARCELONA, SPAIN, Barcelona, Spain, Integrated Systems Europe, SINGAPORE, Singapore, Asia, Pacific Singapore, U.S, Pacific, Europe

☆ ASEAN trade recovery still 'at a nascent stage,' says HSBC economist
▼ + stars: | 2024-04-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailASEAN trade recovery still 'at a nascent stage,' says HSBC economistYun Liu, ASEAN economist at HSBC, discusses the outlook for U.S. interest rates and how it will affect Southeast Asian currencies.

Persons: Yun Liu Organizations: ASEAN, HSBC Locations: ASEAN

The top US diplomat landed in Shanghai where he is expected to meet local officials and business leaders, and he will then travel to Beijing for meetings with senior Chinese officials. “We are in a different place than we were a year ago when the bilateral relationship was at an historic low point,” a senior State Department official said. “Russia is no longer kind of on its back foot,” a second senior State Department official said. Blinken will make the case that China should weigh in “more directly” with Iran to be less provocative in the region, the second senior State Department official said. “In both cases the Chinese have taken some early steps,” said the second senior State Department official, adding that there is still “much more” that needs to be done on both fronts.

Persons: Antony Blinken, Joe Biden, Xi Jinping, Janet Yellen, Biden, Xi, ”, “, ” Blinken, Matthew Miller, Leah Millis, China’s, ” Xi, Blinken, ” Miller, it’s, Mark Swidan, Kai Li, David Lin Organizations: CNN, State Department, Ukraine, US, Foreign Ministry, of, People, Biden, Chinese Foreign Ministry, ASEAN, Association of Southeast Asian Nations, Beijing, Party, Taiwan, Communist, Taiwan Relations, White Locations: China, Ukraine, Shanghai, Beijing, California, Russia, Moscow, Italy, “ Russia, ”, Europe, United States, South China, Philippine, Washington, Philippines, South, Taiwan, Taiwan Strait, East, Iran

☆ Kim Aris: Aung San Suu Kyi’s son casts doubt on reports Myanmar former leader has been moved from prison
▼ + stars: | 2024-04-23 | by ( Helen Regan | ) edition.cnn.com time to read: +13 min

Drn/Getty Images Suu Kyi, front center, is seen with her parents and her two elder brothers in 1947. Kyodo News Stills/Getty Images Suu Kyi poses with Burmese comedian Par Par Lay, who was part of the pro-democracy act "The Moustache Brothers." Soe Than Win/AFP/Getty Images Suu Kyi meets US Secretary of State Hillary Clinton at Suu Kyi's residence in Yangon in 2011. Peter Muhly/AFP/Getty Images Suu Kyi is presented with the Congressional Gold Medal while visiting the US Capitol in 2012. U Aung/Xinhua News Agency/Getty Images Suu Kyi addresses the United Nations General Assembly in New York in 2016.

Persons: Aung, Suu, ”, Kim Aris, Suu Kyi, she’s, ” Aris, CNN’s Anna Coren, “, Michael Aris, ” “, Zaw Min Tun, Min Aung Hlaing, Aris, they’ve, Ma Khin Kyi, Par, Karl Malakunas, David Brunnstrom, Jonathan Karp, Price, Luis D'Orey, David Van Der Veen, Jonathan Utz, Michael Wolf, Pornchai Kittiwongsakul, Soe, Hillary Clinton, Paula Bronstein, Minzayar Oo, Kyi, Bono, Peter Muhly, Alex Wong, Barack Obama, Obama, Brendan Smialowski, Chris Ison, Ragnar Singsaas, Romeo Gacad, Lauren DeCicca, Lam Yik Fei, Htin Kyaw, Aung Naing, Min Aung, Aung Htet, Kyaw, Jewel SamadD, John Kerry, Jonathan Ernst, Reuters Suu Kyi, Heath Mitchell, Pope Francis, Elizabeth II, John Stillwell, Mike Pence, Bernat, Myanmar's, Koen Van Weel, ’ Aris, I’d, Suu Kyi’s NLD Organizations: CNN, Aung, National League for Democracy, Aris, Reuters, Burma Independence Army, Kyodo, Stills, Oxford University, Getty, Embassy, Suu Kyi, Panos, Congressional, Capitol, Suu, Xinhua News Agency, United Nations General Assembly, National Park Service, Palace, ASEAN, Court of Justice, Association for Political, United Nations Locations: Myanmar, Britain, Rangoon, Yangon, Myanmar’s, Zaw, heatstroke, Naypyidaw, India, Par Par Lay, England, AFP, Bangkok, Thailand, Bagan, Pathein, Camberley, Oslo, Norway, Kawhmu, New York, Washington ,, Washington, DC, Singapore, Gambia, “, Burma, doesn’t

☆ Vietnam mounts ‘unprecedented’ $24 billion rescue for bank engulfed in giant fraud, documents show
▼ + stars: | 2024-04-17 | by ( ) www.cnbc.com time to read: +5 min

Foreign reserves were around $100 billion at the end of the year, according to the central bank. The central bank did not reply to requests for comment about the rescue effort. The finance ministry referred a question to the central bank. The central bank placed SCB under its supervision to stem a run on the bank sparked by the October 2022 arrest of real estate tycoon Truong My Lan. That was up from 478 trillion dong at the end of October, according to the SCB document that was sent to the central bank.

Persons: Truong My, Truong, Lan Organizations: AFP, Getty, Stock Commercial Bank, Reuters, ASEAN, Research, SCB, State Bank of, Bank Locations: Ho Chi Minh City, Vietnam, Saigon, State Bank of Vietnam's, People's

☆ Goldman strategist discusses Fed monetary policy and ASEAN markets
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoldman strategist discusses how change in expectations around Fed may affect Southeast Asia marketsTimothy Moe, co-head of Asia macro research and chief Asia-Pacific equity strategist at Goldman Sachs, discusses the Monetary Authority of Singapore's decision to keep monetary policy unchanged, the outlook for Southeast Asian central bank monetary policy and his equity strategy for the region.

Persons: Goldman, Timothy Moe, Goldman Sachs Organizations: Monetary Authority Locations: Asia, Pacific

☆ Yellen says U.S. plans to ‘underscore’ need for China to shift policy
▼ + stars: | 2024-04-08 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

U.S. Treasury Secretary Janet Yellen said Monday that future discussions between the U.S. and China will focus on Beijing's need to shift its policy on industry and the economy, as she wrapped up the fourth and final full day of her trip to China on April 8. Pedro Pardo | Afp | Getty ImagesBEIJING — U.S. Treasury Secretary Janet Yellen said Monday that future discussions between the U.S. and China will focus on Beijing's need to change its policy on industry and the economy. Yellen said her conversations with Chinese officials during the trip discussed plans Beijing had for its economy, but she did not elaborate. Yellen also declined to share what tools the U.S. might use to prevent China's industrial policy from resulting in the loss of American jobs. During her trip, Yellen met with top Chinese officials including Premier Li Qiang in Beijing and Vice Premier He Lifeng in Guangzhou.

Persons: Janet Yellen, Pedro Pardo, Yellen, Yue Su, Su, Premier Li Qiang Organizations: Treasury, U.S, Afp, Getty, International Monetary Fund, World Bank Group, EV, The Economist Intelligence Unit, ASEAN, Consumer, Premier, Lifeng Locations: China, BEIJING, U.S, Guangzhou, Beijing, Washington ,, Europe, Hong Kong, Washington

☆ U.S. loses its spot to China as Southeast Asia's most favored ally, survey finds
▼ + stars: | 2024-04-03 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

This is the first time Beijing has edged past Washington since 2020 when the annual survey first posed the question. China's aggressive behavior in the South China Sea is the Philippines' (90.2%) and Vietnam's (72.5%) top concern, the region's two frontline South China Sea claimant states. The Philippines President Ferdinand Marcos Jr. told Bloomberg last month that his government's claims on certain parts of the South China sea should not be viewed as provoking China. Vietnam has also asserted sovereignty over islands in the South China Sea though Beijing has brushed aside those claims. ASEAN should build up its resilience and unity to fend off pressures from the two major powers, the U.S. and China, nearly half of the survey respondents said.

Persons: ISEAS – Yusof, Ferdinand Marcos Jr, Kenddrick Chan Organizations: ASEAN Studies, Jan, Association of Southeast Asian Nations, ASEAN, China, Bloomberg, Philippines, U.S, LSE, London School of Economics, Political Science Locations: China, U.S, Washington, Beijing, Singapore, ISEAS, Indonesia . China, Japan, South China, Philippines, Vietnam, Southeast Asia

☆ TSMC: How the world’s biggest chipmaker is working to overcome a shortage of talent
▼ + stars: | 2024-03-22 | by ( Eric Cheung | Will Ripley | ) edition.cnn.com time to read: +7 min

All that changed three years ago, when a global chip shortage and rising geopolitical tension turbocharged growth at TSMC. TSMC set up the Newcomer Training Center inside a sprawling science park in the city of Taichung in central Taiwan in 2021. “After many years, what we want to do is to gradually reduce assignees [and] increase the local hires.”The Newcomer Training Center opened in 2021. The soaring demand, particularly for chips that power AI, has created a shortage of talent for the semiconductor industry. Countries compete for this talent.”TSMC’s Ho said a shortage of talent is one of the main challenges the company faces.

Persons: Taiwan CNN —, —, TSMC, Joe Biden, ”, Marcus Chen, ” Lora Ho, John Mees, Stewart Randall, ” TSMC’s Ho, Ho, Kristy Hsu, “, it’s, ” Ho, “ It’s, — CNN’s Juliana Liu Organizations: Taiwan CNN, Moore’s, Apple, Nvidia, AMD, CNN, “, Training, Taiwan Semiconductor Manufacturing, IC, Taiwan ASEAN Studies Center, Economic Research Locations: Taichung, Taiwan, TSMC, Arizona, fabs, United States, Japan, Germany, China, Washington, Kumamoto, Phoenix , Arizona, Dresden, Europe

☆ Standing Up to China, Philippine Leader Courts New Network of Partners
▼ + stars: | 2024-03-16 | by ( Sui-Lee Wee | Camille Elemia | ) www.nytimes.com time to read: +1 min

With China aggressively asserting its claims on the South China Sea, President Ferdinand R. Marcos Jr. of the Philippines spent his first year on the job beefing up Manila’s alliance with its oldest ally, the United States. Mr. Marcos is adding a new intensity to his muscular foreign policy at a critical moment in his country’s territorial dispute with Beijing. In January, Mr. Marcos and the leaders of Vietnam, another country fighting off Chinese claims to the crucial waterway, pledged closer cooperation between their coast guards. This month, Mr. Marcos clinched a maritime cooperation deal with Australia. “It has to be recognized that the South China Sea handles 60 percent of the trade of the entire world.

Persons: Ferdinand R, Marcos Jr, Marcos, it’s, Mr Organizations: Maritime, Australia, South China, ASEAN, Association of Southeast Asian Nations Locations: China, Philippines, United States, Beijing, Vietnam, Europe, South, Berlin

☆ The global trade system has already started planning for potential Trump win, new China tariffs
▼ + stars: | 2024-03-11 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +9 min

The Trump administration used delegated authorities under three trade laws to unilaterally levy tariffs without Congressional approval. The Trump administration tariffs kickstarted a shift in supply chain strategy which, according to Frank, became more well-developed by customers during Covid, when they contemplated moving factories and production out of China. He expects any increase in tariffs during a second Trump presidency to lead to a greater shift in trade from China to Mexico to avoid the tariffs. "If you charge tariffs to China, they're going to build ... their car plants here and they're going to employ our people," Trump said. S&P Global research shows that China's share of the imports of products covered by tariffs imposed by the Trump administration has dropped.

Persons: Donald Trump, Trump, Niki Frank, Frank, Beth Whited, they'd, Paul Brashier, Chris Rogers, Biden, Rogers, Jon Gold, John Taylor IV, Taylor, Peter Boockvar, Critics, it's, that's Organizations: United, Canada Trade, White, CNBC, Global, Trump, China, Biden, OF DHL, Union, Canadian Pacific, Canadian Pacific Kansas City, Union Pacific, ITS Logistics, P Global, Vietnam, National Retail Federation, Berlin Packaging, Trade, Bleakley Financial, ASEAN Locations: United States, Mexico, Canada, Washington , DC, U.S, OF DHL Asia, Long Beach , California, China, Union Pacific, Canadian Pacific Kansas, East, West, Vietnam, Malaysia, South Korea, CNBC Mexico, Europe, Thailand, Indonesia

☆ Eight Australian companies have made commitments to invest in Malaysia, minister says
▼ + stars: | 2024-03-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEight Australian companies have made commitments to invest in Malaysia, minister saysTengku Zafrul Aziz, Malaysia's minister of investment, trade and industry, discusses the ASEAN-Australia Special Summit and the World Trade Organization's decision to rule in favor of the EU in a palm oil dispute with Malaysia.

Persons: Tengku Zafrul Aziz Organizations: ASEAN, Summit, Trade, EU Locations: Malaysia

☆ Debate heats up as Singapore prime minister says exclusive Taylor Swift deal isn't 'unfriendly'
▼ + stars: | 2024-03-05 | by ( Monica Pitrelli | Marylou Costa | ) www.cnbc.com time to read: +4 min

Singapore Prime Minister Lee Hsien Loong said Tuesday that a closed-door deal for Taylor Swift to perform in the city-state ensured she would not perform in other Southeast Asian countries during her Eras tour. The statement is the first confirmation from the city-state that the agreement for Swift to perform in Singapore contained exclusivity terms preventing her from performing in other countries. He also did not reveal the size of the grant to Swift, but stated the amount is "not anywhere as high as speculated." During her first three concerts in Singapore, Swift asked her audience to applaud — first the locals, then those who had traveled from overseas to come to the show. Edwin Tong Singapore Minister for Culture, Community and YouthSome liken the deal to how cities vie to host major sports events, such as the Olympics, the Super Bowl and the World Cup.

Persons: Lee Hsien Loong, Taylor Swift, Swift, Edwin Tong, Srettha Thavisin, Joey Salceda, Lee, Ashok Kumar, —, Selena Oh, de Boer, Irene Hoe, — haven't Organizations: Singapore, Reuters, Thai, Swift's, Philippine, Getty, Edwin Tong Singapore Minister, Culture ,, Super Bowl Locations: Singapore, Southeast Asia, Melbourne, Bangkok, ASEAN, Tokyo, Asia, Malaysia, Thailand, Indonesia, Asia — Tokyo, Shanghai, Hong Kong, Philippines, Cambodia, what's, Edwin Tong Singapore

☆ China's 5% GDP goal is 'attainable' but it won't be easy, says Hong Kong's financial secretary
▼ + stars: | 2024-03-05 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China's GDP target of 5% for 2024 is possible, but it won't be easy to achieve, Hong Kong's financial secretary told CNBC Tuesday after Beijing set a growth target of "around 5%" for this year. I think this is attainable, although it's not easy," Hong Kong's Financial Secretary Paul Chan told CNBC's Emily Chan, highlighting bright spots in China's export sector and domestic consumption. So this represents also a huge market for China's export," Chan said, adding that "we expect the export situation of the mainland will improve particularly into developing Asia." Domestic consumption is also a key driver for the city's growth in the short term, said the financial secretary. Hong Kong's GDP is projected to grow 2.5% to 3.5% this year.

Persons: it's, Paul Chan, CNBC's Emily Chan, Chan, Goldman Sachs Organizations: CNBC, Kong's, ASEAN, Association of Southeast, Nations, U.S . Locations: Beijing, China, Asia, U.S, Macao, Hong Kong

☆ Eras Tour: Singapore defends Taylor Swift’s exclusive Southeast Asia stop after neighbors cry foul
▼ + stars: | 2024-03-05 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +5 min

CNN —Singapore is drawing fans from all over Southeast Asia and beyond to Taylor Swift’s Eras Tour, much to the annoyance of the city-state’s regional neighbors. “[Our] agencies negotiated an arrangement with her to come to Singapore and perform and to make Singapore her only stop in Southeast Asia,” Lee said at a press conference in Melbourne while on a state visit to Australia. I don’t see that as being unfriendly.”“If we had not made such an arrangement, would she have come to more places in Southeast Asia? Southeast Asia fans dig deep to see SwiftThe Eras Tour is a multi-continent extravaganza that surged to become the highest-grossing tour of all time – and Swift is making Singapore a lot of money. I never really spent big like six-digit (Philippine peso) amounts for someone else, just Taylor Swift,” Suizo said.

Persons: Taylor, Swift, Joey Salceda, Lee Hsien Loong, “, ” Lee, Edward Tong, ”, Srettha Thavisin, Taylor Swift, hasn’t, Edmund Ong, Yun Liu, Errol De Asis, Gilliane, Christel Kaye Kuan, Yedda Mendoza, ” Suizo, it’s, Granada, That’s Organizations: CNN, Southeast, Singapore –, ”, Singapore, Coldplay, World Bank Locations: Singapore, Southeast Asia, Melbourne, Australia, Bangkok, Thailand, Philippines, Asia, Maybank, ASEAN, Gilliane Granada, China, Granada

☆ Why Australia keeps an arm’s length from South China Sea tensions, even as it draws closer with the Philippines
▼ + stars: | 2024-03-04 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +8 min

CNN —When Philippine President Ferdinand Marcos Jr. addressed the Australian Parliament last week there was no mistaking the fighting talk. The Philippines accused China's coast guard of setting up the barrier at the mouth of the disputed fishing ground. That meeting will also be attended by several other nations with territorial disagreements with China – including Vietnam, Brunei and Malaysia. Collin Koh, research fellow at the S. Rajaratnam School of International Studies in Singapore, said Australia was unlikely to back any tough language at the summit pertaining to the South China Sea or any other hot-button issue. As Bisley put it, “We don’t like what China does, but we’re not going to put ourselves in harm’s way.”

Persons: Ferdinand Marcos Jr, ”, Marcos, Rodrigo Duterte, –, Thomas Shoal, David, China’s, Marcos ’, China –, Scott Morrison, Collin Koh, Penny Wong annouced, Anthony Albanese, Albanese, Lukas Coch, Susannah Patton, it’s, ” Patton, China’s aggressions, Wang Wenbin, Nick Bisley, Bisley, we’re Organizations: CNN, Maxar, Association of Southeast Asian Nations, ASEAN, China, Rajaratnam, of International Studies, Australia, Australian, Partners, Reuters, South China, Southeast Asia, Lowy Institute, China’s Ministry of Foreign Affairs, La Trobe University Locations: Philippines, China, South China, Manila, China’s, Philippine, Scarborough, Scarborough Shoal, Hague, United States, Canberra, Australia, Melbourne, Vietnam, Brunei, Malaysia, Beijing, Singapore, South, Penny Wong annouced Canberra, Southeast Asia, Japan, India

☆ AirAsia unit heads for U.S. listing through SPAC deal as CEO says 'Americans understand branding'
▼ + stars: | 2024-02-28 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

AirAsia airplanes are pictured on the tarmac at Kuala Lumpur International Airport in Sepang on January 8, 2024. Malaysian conglomerate Capital A intends to sell its budget carrier business to medium- to long-haul affiliate AirAsia X in a major consolidation of the country's airline industry. Brand licensing opportunities could include hotels, mobile services and airlines in markets such as south Asia and Africa where AirAsia does not have subsidiaries, Fernandes said. The deal values the new company, Capital A International, at $1.15 billion, according to a release Wednesday. That will create a unified Air Asia Group, Fernandes said, which is targeting a $400 million equity raise, according to Reuters.

Persons: Tony Fernandes, —, " Fernandes, Fernandes Organizations: AirAsia, Kuala, Capital, AirAsia X, Nasdaq, CNBC, Asean, Malaysian, Berhad, Air, Air Asia Group, Reuters, Aetherium, International Locations: Kuala Lumpur, Sepang, U.S, Malaysia, Asia's, America, Southeast Asia, Asia, Africa, Malaysian, Air Asia

☆ Coldplay, then Taylor Swift: Concert economics are driving a tourism boom in Singapore
▼ + stars: | 2024-02-27 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Coldplay, Ed Sheeran, and now Taylor Swift. Singapore is eyeing concert economics as its new growth driver, which is set to add hundreds of millions of dollars in tourism receipts. Fans bought 200,000 tickets as the shows sold out within hours, breaking the city-state's record for the most tickets sold by an artist in a single day. And starting this weekend, Singapore will host American popstar Taylor Swift, whose Eras Tour in the U.S. last year was estimated to generate around $4.6 billion in consumer spending. "Taylor Swift is also widely expected to generate a sizable economic boost, given her past record," Liu added.

Persons: Coldplay, Ed Sheeran, Taylor Swift, Yun Liu, Agoda, popstar Taylor Swift, Liu Organizations: Singapore's, Coldplay's Music Locations: Singapore, ASEAN, British, Asia, Pacific, Malaysia, Indonesia, U.S

Vcg | Visual China Group | Getty ImagesAsia-Pacific's travel sector is seeing strong growth, with demand for flights set to match pre-pandemic levels this year — thanks to Chinese tourists. The region's travel demand in December 2023 improved to almost 83% of 2019 numbers compared with just 57% in January, according to the International Air Transport Association. Experts believe Chinese tourists will fuel this demand, particularly as they visit Southeast-Asian destinations within the wider region. watch nowTravel demand from Chinese tourists in Southeast Asia saw a notable rise in January, said James Sullivan, head of Asia-Pacific equity research at JPMorgan. Outside of Asia Pacific, the U.S., U.K., South Korea, Japan and Australia were popular holiday spots for Chinese travelers.

Persons: Willie Walsh, CNBC's, James Sullivan, Sullivan Organizations: Visual China, Getty, International Air Transport Association, JPMorgan, ASEAN, Research, Citi, Asia Pacific Locations: Yantai, Shandong Province, China, Southeast Asia, Asia, ASEAN, Thailand, Singapore, Malaysia, Vietnam, Indonesia, U.S, South Korea, Japan, Australia

☆ Singapore's UOB revises down 2024 loan growth, fourth-quarter profit beats forecasts
▼ + stars: | 2024-02-22 | by ( ) www.cnbc.com time to read: +1 min

A customer uses an ATM at an United Overseas Bank Ltd. (UOB) branch in Singapore, on Thursday, Feb. 23, 2023. Singapore's United Overseas Bank, or UOB, on Thursday cut its 2024 loan growth projections to low single-digits from mid-single digits after posting a stronger-than-forecast 22% jump in fourth quarter net profit. UOB maintained its 2024 guidance for double-digit fee growth while projecting total income to see positive growth, according to UOB CEO Wee Ee Cheong's earnings presentation slides. Credit costs for 2024 are expected to be at the lower end of its previous 25 to 30 basis points guidance range. "Global economic outlook remains uncertain in the near term, but Southeast Asia continues to be a bright spot," Wee said in a statement.

Persons: UOB, Wee Ee, Wee Organizations: United Overseas Bank Ltd, Singapore's United Overseas Bank Locations: Singapore, Southeast Asia

☆ There's a 'big agenda' to bring Thailand's household debt down, HSBC economist says
▼ + stars: | 2024-02-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a 'big agenda' to bring Thailand's household debt down, HSBC economist saysAris Dacanay, ASEAN economist at the bank, says "when household debt to GDP hits 80%, it starts to become damaging to the economy."

Persons: Aris Dacanay Organizations: HSBC Locations: ASEAN

☆ JPMorgan discusses Chinese outbound travel trends, Southeast Asia
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChinese outbound travel: Southeast Asia to be net beneficiary of 'incremental boost,' says JPMorganJames Sullivan, head of Asia-Pacific equity research at the investment bank, discusses Chinese outbound travel trends, and says "from an incremental flow perspective, we think ASEAN will be the net beneficiary."

Persons: JPMorgan James Sullivan Organizations: ASEAN Locations: Southeast Asia, Asia

☆ BofA economist discusses what can be expected from Singapore's 2024 budget
▼ + stars: | 2024-02-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA economist discusses what can be expected from Singapore's 2024 budgetKai Wei Ang, Asia and ASEAN economist at BofA Securities, says more measures targeting the higher-income group might be introduced to "broaden the tax base."

Persons: Kai Wei Ang Organizations: BofA Securities Locations: Asia, ASEAN

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