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☆ Philippine leader cheers EC move as job losses for 50,000 seafarers averted
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +1 min

MANILA, April 2 (Reuters) - Philippine President Ferdinand Marcos Jr on Sunday welcomed the European Commission's (EC) decision to continue recognising certificates issued by his country for Filipino seafarers, saying it averted job losses for roughly 50,000 sailors. The EC had warned in 2021 it would withdraw its recognition of Filipino seafarers' certificates unless serious measures were taken, including compliance with the International Convention on Standards of Training, Certification and Watchkeeping for seafarers. Marcos had met with EC President Ursula von der Leyen in December, when he attended the ASEAN-EU summit in Brussels, to discuss the 15-year-old issue involving Filipino seafarers. The EC said it intends to provide the Philippines with technical assistance to further improve its education, training and certification system for seafarers. Reporting by Enrico Dela Cruz; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Southeast Asian finance leaders discuss containing global risks
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

NUSA DUA, Indonesia, March 31 (Reuters) - Talks between Southeast Asian central bank governors and finance ministers entered their final day on Friday, with the leaders focused on strengthening the region's resilience against global risks. The gathering of finance leaders from the Association of Southeast Asian Nations (ASEAN) comes amid a backdrop of recent global banking turmoil after the collapse of Silicon Valley Bank and the bailout and takeover of Credit Suisse. Indonesia's central bank governor Perry Warjiyo called on the forum to boost the use of local currencies for settlements to reduce volatility and exposure to major currencies. They also discussed cryptocurrencies and central bank digital currencies, he added. Reporting by Stefanno Sulaiman; additional reporting by Ananda Teresia in Jakarta Editing by Ed Davies, Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Southeast Asian finance leaders in talks on containing global risks
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

NUSA DUA, Indonesia, March 31 (Reuters) - Southeast Asian central bank governors and finance ministers are set to wrap up talks on Friday, after meeting in Bali this week for discussions often focused on how the region can remain resilient in the face of a spike in global risks. The gathering of finance leaders from the Association of Southeast Asian Nations (ASEAN) comes amid a backdrop of recent global banking turmoil after the collapse of Silicon Valley Bank and the bailout and takeover of Credit Suisse. Dody also said finance deputies discussed connecting payment systems in the region, even though the infrastructure of some ASEAN countries was not fully developed yet. They also discussed cryptocurrencies and central bank digital currencies, he said. They knew the memory of the Asian financial crisis," Philippine central bank governor Felipe Medalla told the seminar on economy resiliency.

☆ Vietnam communist party chief, Biden agree to boost ties in phone call
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

HANOI, March 30 (Reuters) - The chief of Vietnam's ruling Communist Party Nguyen Phu Trong and U.S. President Joe Biden agreed in a telephone call on Wednesday to "promote, develop and deepen" ties, Vietnam's state media reported. The United States is now Vietnam's largest export market and the two former foes are celebrating the 10th anniversary of a "comprehensive partnership" this year. The report said Trong, who is Vietnam's most powerful figure, and Biden repeated invitations to visit each others country. In October, Trong was the first foreign leader to meet Xi Jin Ping in Beijing after he secured a precedent-breaking third term as General Secretary at the Chinese Communist Party. Reporting by Khanh Vu in Hanoi and David Brunnstrom in Washington Editing by Ed Davies and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ Myanmar junta dissolves Suu Kyi's party as election deadline passes
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +3 min

[1/2] Myanmar State Counselor Aung San Suu Kyi attends the opening session of the 31st ASEAN Summit in Manila, Philippines, November 13, 2017. "It doesn't matter whether they say our party is dissolved or not. The shadow National Unity Government (NUG), which the junta has declared "terrorists", said the military had no authority to hold what would be a sham election. The election would return Myanmar to the quasi-civilian democratic system that experts say the military can control with the NLD out of the picture. Richard Horsey, senior adviser to the International Crisis Group, said the election was dangerous for the country.

Asian markets could rebound on Tuesday from their sluggish start to the week, after a deal to buy the assets of stricken U.S. bank Silicon Valley Bank (SVB) prompted a relief rally in financials and allayed fears of deeper systemic stress. Treasury's sale of $43 billion five-year notes on Tuesday and $35 billion of seven-year notes on Wednesday will be worth monitoring. There are no central bank policy decisions on Tuesday, but investors can expect a slew of headlines from central bank officials around the world to hit their screens. In Asia, Bank of Japan governor Haruhiko Kuroda gives a speech, and finance ministers and central bank governors of the ASEAN nations attend a three-day summit in Bali. European Central Bank and Bank of England chiefs Christine Lagarde and Andrew Bailey head a raft of European policymaker events.

☆ Philippines, China say need to work together over maritime issues
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +1 min

Ted Aljibe/POOL via REUTERSMANILA, March 24 (Reuters) - Maritime issues between the Philippines and China play an important part in relations between the countries, senior officials from the countries said on Friday, as both sides pledged to work together to resolve differences. Tensions between the neighbours have recently flared up over what Manila described as "aggressive activities" by China in the South China Sea. Maritime differences with Beijing were a "serious concern", but could be resolved through the "exhaustion of all diplomatic means", Philippine foreign ministry undersecretary Theresa Lazaro said after talks with Chinese counterparts. Meanwhile, China's Vice Foreign Minister Sun Weidong said maritime issue were not "the entirety of its relations" with the Philippines. Reporting by Karen Lema and Neil Jerome Morales Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.

☆ US to announce more sanctions against Myanmar junta -State Dept official
▼ + stars: | 2023-03-22 | by ( Stanley Widianto | ) www.reuters.com time to read: +2 min

JAKARTA, March 22 (Reuters) - The United States will announce further sanctions against entities inside Myanmar in the coming days, a senior State Department official said on Wednesday. Speaking to reporters in Jakarta, U.S. State Department Counselor Derek Chollet said the sanctions will make it more difficult for Myanmar's junta to generate revenue to buy weapons. To date, the United States has imposed sanctions on 80 individuals and more than 30 entities inside Myanmar, Chollet said. He said that to see a solution to the Myanmar conflict, Russia must stop supplying military equipment to the junta. ASEAN currently bars junta leaders from high-level meetings, but has demurred on imposing sanctions and ruled out ousting Myanmar from the 10-member regional bloc.

☆ US-ASEAN Business Council 'biggest' mission to Vietnam joined by companies including Netflix and Boeing
▼ + stars: | 2023-03-21 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Senior executives from 52 US firms are taking part in the biggest business mission ever organized by the US-ASEAN Business Council, the trade lobby told CNN. The trip, held annually and currently led by former US Ambassador to Vietnam Ted Osius, began Tuesday and runs to Thursday. The council did not specify who was attending, but corporate heavyweights Boeing (BA) and Netflix (NFLX) confirmed they had joined the delegation. The discussions “will focus on Boeing’s growing partnership with Vietnam and ways to strengthen the country’s aviation and defense capabilities,” it added. Netflix’s streaming service is available to viewers in Vietnam, though it does not have a direct presence there.

Kishida said there were four "pillars" to Japan's new Indo-Pacific plan: maintaining peace, dealing with new global issues in cooperation with Indo-Pacific countries, achieving global connectivity through various platforms, and ensuring the safety of the open seas and skies. Japan pledged $75 billion to the region by 2030 via private investment and yen loans and by ramping up aid through official governmental assistance and grants. "We plan to expand the cooperation of the free and open Indo-Pacific framework," Kishida told the Indian Council of World Affairs. China has ramped up its military presence in the Indo-Pacific and rapidly modernised its navy while promoting its Belt and Road Initiative. "Giving voice to the priorities of the Global South is an important pillar of our G20 presidency," Modi said after his talks with Kishida.

☆ SpaceX, Netflix, Boeing to join "biggest-ever" US business mission to Vietnam
▼ + stars: | 2023-03-17 | by ( Francesco Guarascio | Thomson Reuters | Francesco Leads A Team Of Reporters In Vietnam That Covers Top Financial | ) www.reuters.com time to read: +3 min

HANOI, March 17 (Reuters) - SpaceX, Netflix and Boeing are among the companies joining the "biggest-ever" U.S. business mission to Vietnam next week to discuss investment and sales opportunities in the booming Southeast Asian nation, the organiser said. More than 50 companies, including defence, pharmaceutical and tech firms, will participate in the mission organised by the US-ASEAN Business Council, an industry body, according to a list seen by Reuters. "This is the biggest-ever mission in Vietnam," said Vu Tu Thanh, the US-ASEAN Business Council's representative in the country, noting that the body had been organising these events for three decades. The majority of the companies joining the business mission already have a business or manufacturing presence in Vietnam, including Apple (AAPL.O), Coca-Cola (KO.N) and PepsiCo (PEP.O), Thanh said, with some planning to expand it. Among them is SpaceX, which is looking to sell its satellite internet services to Vietnam and other countries in the region, Thanh said.

☆ How Indonesia is using diplomacy to call for the end of Russia's war in Ukraine
▼ + stars: | 2023-03-16 | by ( Sponsor Post | Created Insider Studios With Fcdo | ) www.businessinsider.com time to read: +6 min

Indonesia has joined the vast majority of the world's countries in condemning Russia's invasion of Ukraine. Agriculture, IT, and energy are just a few of the areas with potential for partnership between Indonesia and Ukraine. Indonesia has worked hard to build bridges in the interests of global trade and regional stability. Bilateral opportunities: Trade between Indonesia and Ukraine totaled $1.24 billion before Russia invaded Ukraine. 141 countries, including Indonesia, voted in favor of Russia's immediate, complete, and unconditional withdrawal from Ukraine.

☆ Singapore to work with Indonesia, ASEAN, UN to push Myanmar peace plan - PM
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +1 min

[1/5] Singapore's Prime Minister Lee Hsien Loong meets with Indonesia's President Joko Widodo at the Istana in Singapore March 16, 2023. REUTERS/Edgar Su/PoolSINGAPORE, March 16 (Reuters) - Singapore Prime Minister Lee Hsien Loong said on Thursday the city-state would work with Indonesia and other Southeast Asian countries, as well as partners like the United Nations, to push Myanmar's military rulers to implement a stalled peace plan. "Singapore will continue working with Indonesia and ASEAN members, plus ASEAN's partners like the U.N., to push for the full implementation of the five-point consensus," he said, referring to the peace plan that Myanmar's top general agreed to with ASEAN. In addition, Singapore and Indonesia would work together on developing renewable energy, their leaders announced. Reporting by Xinghui Kok in Singapore and Stanley Widianto in Jakarta; Editing by Ed Davies and Martin PettyOur Standards: The Thomson Reuters Trust Principles.

TOKYO, March 4 (Reuters) - Japan's government pledged financial and technological support to help ASEAN countries accelerate their efforts to decarbonise their economies and combat global climate change, its industry minister said on Saturday. Energy-poor Japan aims to turn into the world's leading hydrogen economy to reduce dependence on traditional polluting fossil fuels such as coal and oil. "Japan will take a lead in providing generous support in finance, technology and personal resources to help Asia's decarbonisation," Industry Minister Yasutoshi Nishimura told a ministerial meeting of the Asia Zero Emission Community (AZEC). The AZEC was proposed by Japanese Prime Minister Fumio Kishida last year with the aim of sharing the philosophy of promoting decarbonisation in Asian nations and cooperating to push forward energy transition. Reporting by Yuka Obayashi and Katya Golubkova; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Indonesia's Foreign Minister Retno Marsudi met with Chinese counterpart Qin Gang in Jakarta, ahead of a round of negotiations on the code starting in March. Qin added that China and ASEAN will jointly safeguard peace and stability in the strategic trade corridor, through which about $3.4 trillion of goods pass each year. China would work with ASEAN countries to accelerate consultations on the code, he said. Beijing claims much of the South China Sea and has built islands from which it is capable of deploying advanced weaponry. China and ASEAN countries agreed in 2002 to work towards creating a code of conduct and it was 15 years before moves were underway to create a framework for negotiations.

☆ Ola plans $920 mln India investment in electric cars, batteries
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: +1 min

CHENNAI, Feb 18 (Reuters) - SoftBank Group-backed (9984.T) Ola Electric would invest $920 million in the southern Indian state of Tamil Nadu to manufacture electric cars and batteries for electric vehicles (EVs), a state government statement said on Saturday. Ola will invest 76.14 billion rupees ($920 million) through its subsidiaries Ola Electric Technologies and Ola Cell Technologies, drawn to the growing demand for EVs in India. The company's cumulative production numbers topped 100,000 in November, and it plans to annually make 140,000 cars and hire 3,111 workers in Tamil Nadu through the new investment. In September, Ola said it was looking to expand into Latin America, ASEAN and European Union countries after entering India's neighbour Nepal first. ($1 = 82.7500 Indian rupees)Reporting by Praveen Paramasivam in Chennai; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ 'No going back' for S.Korea, Indonesia defence cooperation after jet funding dispute
▼ + stars: | 2023-02-17 | by ( Josh Smith | ) www.reuters.com time to read: +2 min

SEOUL, Feb 17 (Reuters) - Defence cooperation between South Korea and Indonesia will expand, diplomats from the two countries said on Friday, after a dispute over funding for a joint fighter jet project was resolved last year. "I think both sides are committed and there is no going back on this important initiative." The next-generation aircraft developed by Korea Aerospace Industries (047810.KS) (KAI) is designed to be a cheaper, less stealthy alternative to the U.S.-built F-35, on which South Korea relies. Indonesian Ambassador Gandi Sulistiyanto noted that Indonesian pilots were in South Korea to train with the new jet. President Yoon Suk-yeol has pledged to step up efforts to boost the export of weapons and secure cutting-edge defence technologies as he aims for South Korea to become the world's fourth-largest arms exporter.

☆ Singapore must prepare for economic and geopolitical headwinds, says Lawrence Wong
▼ + stars: | 2023-02-15 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

Escalating conflict from the Russia-Ukraine war and the slowing global economy are some downside risks that Singapore must be prepared for, Deputy Prime Minister Lawrence Wong told CNBC in an exclusive interview Wednesday. "There are a few [risks]," Wong told CNBC's Martin Soong. "The strength of the global economy, particularly the U.S. economy, that's one. Lawrence Wong Singapore deputy prime ministerSingapore already has strong fundamentals and branding, and is "highly regarded for honesty, integrity with loyalty," Wong said. On escalating tensions between the U.S. and China, Wong said Singapore "watched with great concern."

☆ We need lithium from Australia for our electric vehicle batteries: Indonesian business organization
▼ + stars: | 2023-02-14 | 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 EmailWe need lithium from Australia for our electric vehicle batteries: Indonesian business organizationArsjad Rasjid of the Indonesian Chamber of Commerce and Industry discusses how it's collaborating with ASEAN countries in business efforts.

☆ Markets are still underestimating the impact of China's reopening, CIO says
▼ + stars: | 2023-02-13 | 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 EmailMarkets are still underestimating the impact of China's reopening, CIO saysWillem Sels, global chief investment officer for global private banking and wealth at HSBC, discusses the worldwide effects of China's reopening and low valuations across China and ASEAN.

☆ Investors turn picky in Asia after easy wins from China’s reopening
▼ + stars: | 2023-02-09 | by ( Ankur Banerjee | ) www.reuters.com time to read: +5 min

Herald van der Linde, HSBC's head of equity strategy for Asia Pacific, points out that travel and gaming stocks have already benefited. That has led investors to hunt for sectors and companies with depressed valuations outside China. Reuters GraphicsMSCI China Vs MSCI Asean vs MSCI Asia excluding JapanGLOBAL PUSH OR CHINA PULL? After a torrid 2022, investors have been betting that a swift recovery in China's economy will somewhat cushion the impact of a global slowdown and possible recession. "China and its reopening trade, on the other hand, are in early stages and may be the additional tailwind for Asian equities later this year."

☆ Where did tourists go in Southeast Asia in 2022? Take a look at this chart
▼ + stars: | 2023-02-06 | by ( Monica Pitrelli | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhere did tourists go in Southeast Asia in 2022? Take a look at this chartOn the heels of the ASEAN Tourism Forum, CNBC's Monica Pitrelli recaps where tourism recovery in Southeast Asia stood at the end of 2022.

☆ ASEAN chair Indonesia to intensify talks on code for South China Sea
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Willy KurniawanJAKARTA, Feb 4 (Reuters) - Indonesia plans to intensify talks with China and other Southeast Asian countries to finalise a code of conduct (COC) for the disputed South China Sea, its foreign minister said on Saturday, amid escalating tensions in the strategic waterway. Indonesia is preparing to host a round of negotiations on the COC this year, the first taking place in March, the foreign minister said. China claims jurisdiction over almost the entire South China Sea based on its U-shaped "nine-dash line", a boundary found to have no legal basis by the Permanent Court of Arbitration in the Hague in 2016. ASEAN members the Philippines, Vietnam, Malaysia and Brunei all have overlapping claims with China in the strategic waterway. Separately, ASEAN members wrapped up talks having only reiterated support for the bloc's five-point peace plan on Myanmar which includes the cessation of conflict in the conflict-torn nation and the start of dialogue.

JAKARTA, Feb 1 (Reuters) - Indonesia plans to send a top general to Myanmar to talk to its junta leaders in the hope of showing Myanmar's military rulers how Indonesia made a successful transition to democracy, President Joko Widodo said on Wednesday. We have the experience, here in Indonesia, the situation was the same," the president, who is widely known as Jokowi, told Reuters in an interview in his offices in Jakarta. The military took over in Myanmar in 1962, isolating the country and suppressing dissent for decades until a tentative opening up began in 2011. Other members have appeared increasingly frustrated with the Myanmar military and are keen to maintain a ban on its top officials taking part in ASEAN forums. Managing rifts over Myanmar, and escalating tension in the disputed South China Sea, will be among the main challenges for Indonesia in its role as ASEAN chair.

☆ Russia sanctions, Ukraine support to be G7 priority, says Japan diplomat
▼ + stars: | 2023-01-26 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +4 min

"Sanctions against Russia and support for Ukraine will be a top priority at G7 financial leaders' meetings under Japan's chair," said Kanda, who will oversee G7 deputy-level talks on economic policy this year. While Kanda underscored the importance of G7 unity in standing up to Russia, some analysts say there may be differences on sanctions, particularly among Europeans who are being forced to wean themselves off Russian energy supplies. Kanda, who is vice finance minister for international affairs, listed the challenges the G7 will have to confront over the coming year. "If this is realised, it would pave the way to carry out debt restructuring for other middle-income countries." Reporting by Tetsushi Kajimoto; Additional reporting by Kentaro Sugiyama; Editing by Robert Birsel and Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

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