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Fearful of the potential reaction from its much larger neighbour, Vietnam had initially expressed caution about the upgrade. Yet it is unclear what Vietnam, which is at odds with China over boundaries in the South China Sea, stands to gain in the short term from the upgrade. Meanwhile, Vietnam is talking with several other countries to upgrade and expand its mostly Russian-made arsenal, and has recently engaged in multiple high-level defence meetings with top Russian officials. The U.S. may offer more, said Vu Tu Thanh, head of the Vietnam office of the US-ASEAN Business Council. The upgrade of relations is expected to boost U.S. firms' plans in Vietnam.

Persons: Joe Biden, Biden, Xi Jinping, Li Qiang, Hong Hiep, Singapore's, – Yusof, Hiep, Thanh, Francesco Guarascio, Trevor Hunnicutt, Khanh Vu, Lincoln Organizations: Manutronics, REUTERS, Rights, United, Washington, ASEAN Business Council, Energy, Boeing, AES, Thomson Locations: Bac Ninh province, Vietnam, Rights HANOI, Hanoi, China, Washington, Russia, Beijing, South China, U.S, Washington's, Thanh

☆ China's Premier Li Qiang will attend ASEAN summit - foreign ministry
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: 1 min

Chinese Premier Li Qiang attends a meeting with U.S. Special Presidential Envoy for Climate John Kerry (not pictured) at the Great Hall of the People in Beijing, China July 18, 2023. REUTERS/Florence Lo/Pool/File Photo Acquire Licensing RightsBEIJING, Sept 1 (Reuters) - China's Premier Li Qiang will attend a summit of the Association of Southeast Asian Nations (ASEAN) being held Sept. 5-8, the Chinese foreign ministry said on Friday. While at the summit, Li will attend several meetings, including the East Asia Summit and a key meeting that includes Japan and South Korea. Reporting by Beijing newsroom; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Qiang, John Kerry, Florence Lo, Li, Christian Schmollinger Organizations: U.S, of, People, REUTERS, Rights, Association of Southeast Asian Nations, East Asia Summit, Beijing, Thomson Locations: Beijing, China, Rights BEIJING, Japan, South Korea

☆ Southeast Asia's first high-speed train – a boon or bust for Indonesia's economy?
▼ + stars: | 2023-08-31 | by ( Nyshka Chandran | ) www.cnbc.com time to read: +5 min

While it could improve overall economic and business productivity, those benefits may be overrun by Jakarta's soaring debt burden as project costs continue to mount. The 142-kilometre train linking Indonesia's capital to Bandung is expected to move at 350 kilometers per hour, driven by electricity with no direct carbon emissions expected during operations. However, escalating costs of the project could push up Indonesia's government debt and overshadow any short-term economic gains. Initially, the train was to be financed by PT Kereta Cepat Indonesia China — a consortium of companies from China and Indonesia tasked with building the rail project. In that scenario, money spent on the train would have been better spent on alternative investments like irrigation projects, he said.

Persons: Joko Widodo, Arief Anshory Yusuf, Jokowi, Sri Lanka's, Mao Ning, Mao, Yusuf Organizations: Bloomberg, Getty, Initiative, Indonesian, Bandung's Padjadjaran University, Australian National University, PT Kereta, Indonesia China —, KCIC, China Development Bank, Reuters, of Economic, Law Studies, Nurphoto, CNBC Locations: Indonesia, Jakarta, Bandung, Southeast Asia, Indonesian, Surabaya, Japan, Indonesia China, China, Entebbe, Beijing, IDR

The boost to formal ties could bring billions of dollars of new private investment and some public funds to Vietnam's semiconductor industry. But industry officials, analysts and investors said that the small pool of trained experts will be a crucial hurdle for the rapid development of the chip industry. There's also a risk of inadequate supply of trained chips software engineers, said Hung Nguyen, senior program manager on supply chains at RMIT University Vietnam. The White House has not specified which segments of the chips industry in Vietnam will be prioritised, but U.S. industry executives have indicated that the back-end is a key growth sector. More private investment could come, especially if a significant share of the $500 million available under the U.S. CHIPS Act for global semiconductor supply chains ends up in Vietnam.

Persons: Joe Biden, Kevin Lamarque, Biden, Thanh, There's, Hung Nguyen, CHINA'S, Amkor, Janet Yellen, Hung, Francesco Guarascio, Steve Holland, Trevor Hunnicutt, Khanh Vu, Phuong, Muralikumar Organizations: U.S . Army, White, REUTERS, Companies, ASEAN Business Council, RMIT University Vietnam, Boston Consulting Group, Reuters, Intel, U.S . Treasury, Marvell, Thomson Locations: Vietnam, Washington , U.S, Hanoi, Washington, Vietnam Vietnam, HANOI, U.S, China, United States, Taiwan, Beijing, The U.S, Malaysia, India, Europe, Phuong Nguyen

☆ China's factory activity likely extended declines in August - Reuters poll
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

An employee works on the production line of Nio electric vehicles at a JAC-NIO manufacturing plant in Hefei, Anhui province, China August 28, 2022. China Daily via REUTERS/File Photo Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - China's factory activity likely contracted for a fifth straight month in August, a Reuters poll showed on Tuesday, as weak demand threatens recovery prospects in the world's second-largest economy and pressures officials to prop up growth. An index reading above 50 indicates expansion in activity on a monthly basis while below that signals contraction. "ASEAN, China's top trading partner, has also decreased to a nearly two-year low of 50.8." The official manufacturing PMI, which largely focuses on big and state-owned firms, and its survey for the services sector, will be released on Thursday.

Persons: Taimur Baig, Joe Cash, Anant Chandak, Susobhan Sarkar, Sam Holmes Organizations: REUTERS, Rights, Manufacturing, DBS, ASEAN, PMI, Thomson Locations: Hefei, Anhui province, China, Rights BEIJING, Bengaluru

☆ IMF managing director to meet leaders in China, go to Indonesia, India
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva attends in a round table to discuss global economy during the New Global Financial Pact Summit at the Palais Brongniart in Paris, France June 22, 2023. Ludovic Marin/Pool via REUTERS/File Photo Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - International Monetary Fund Managing Director Kristalina Georgieva will visit China from Wednesday to meet with top leaders, before travelling to Indonesia and India for ASEAN and Group of 20 summits, an IMF spokesperson said on Tuesday. "During Aug. 30 to Sept. 3 the Managing Director will be visiting China to engage in bilateral discussions with China's senior leadership team," they said. Last month, the IMF raised its 2023 global growth estimates slightly given resilient economic activity in the first quarter, but warned that persistent challenges were curtailing the medium-term outlook. Georgieva will be in Jakarta from Sept. 4 to Sept. 7 and New Delhi from Sept. 8 to Sept. 10, the spokesperson added.

Persons: Kristalina Georgieva, Ludovic Marin, China's, Georgieva, Joe Cash, Jacqueline Wong Organizations: International Monetary Fund, New Global Financial, Palais, Rights, Monetary Fund, China, ASEAN, Group, Association of Southeast Asian Nations, Fund, Thomson Locations: Paris, France, Rights BEIJING, Indonesia, India, China, Jakarta, New Delhi

☆ Vietnam joins Southeast Asian effort on cross-border payments
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

People go past the State Bank building, near the offices of Vietcombank and the Bank for Investment and Development of Vietnam, in central Hanoi, Vietnam November 23, 2017. REUTERS/Kham Acquire Licensing RightsJAKARTA, Aug 25 (Reuters) - Vietnam's central bank signed an agreement on Friday to be part of an initiative by five other Southeast Asian countries to establish a cross-border payments mechanisms between them. Vietnam will join Indonesia, Malaysia, Thailand, the Philippines and Singapore in working to connect each of their payment systems, including using the QR (quick response) code system for retail transactions. The agreement was made at a meeting of the 10-member Association of Southeast Asian Nations (ASEAN) finance ministers and central bank governors in Jakarta. Furthermore, Indonesia, Malaysia and Thailand have agreed to later facilitate cross-border transactions for financial assets like equities and government bonds in local currencies.

Persons: Perry Warjiyo, Stefanno Sulaiman, Martin Petty Organizations: Bank, Bank for Investment, Development, REUTERS, Rights, QR, Association of Southeast Asian Nations, ASEAN, Bank Indonesia, Thomson Locations: Vietcombank, Vietnam, Hanoi, Rights JAKARTA, Indonesia, Malaysia, Thailand, Philippines, Singapore, Jakarta

☆ JPMorgan: The world's food supplies face a bleak future. These are the 3 biggest threats, and the companies best-positioned to tackle food insecurity.
▼ + stars: | 2023-08-25 | by ( Mark Reeth | ) www.businessinsider.com time to read: +10 min

Investors need to know exactly where the threats to the world's food supply are coming from, what themes are beginning to emerge in this new reality, and how they should be investing. New threats to the world's food supplyIn her report, Chang highlighted the ongoing problems affecting the world's food supply: war, weather, and the weaponization of food. One of the most devastating recently implemented restrictions on food supply is India's decision to ban the exportation of non-Basmati white rice. The combination of war, weather, and the weaponization of food has taken a toll on the world's food availability. And within food innovation, JPMorgan analysts like Philippine food and beverage maker Monde Nissin (MONDE PM) and Thailand-based seafood producer Thai Union (TU TB).

Persons: UNICEF — that's, Global Research Joyce Chang, Chang, El, Hilary, CJ Cheiljedang, Mengniu Dairy, Kubota, Jeronimo Martins SGPS Organizations: JPMorgan, Hurricanes, UNICEF —, Global Research, Grain Initiative, Food Policy Research, Food, Agriculture Commodities, ASEAN, Mahindra, LG, Thai Union, TU, Jeronimo Martins SGPS SA, Tesco PLC, J Sainsbury PLC, Koninklijke Ahold Delhaize, Carrefour SA, Yara International ASA, OCI, OCI NA, Bayer AG, PepsiCo Locations: Ukraine, California, Canada, East Coast, Russia, Africa, Asia, India, El, South Korean, HK, South Korea, Philippine, Thailand, Europe

☆ Morning Bid: Dollar rockets as Powell trumps AI
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +5 min

Fed Chair Jerome Powell is due to deliver a keynote address to the annual central banking symposium in Jackson Hole at 1405 GMT. And given increasingly contrasting fortunes of economies on either side of the Atlantic, Powell's words are expected to contain a different message to the one from European Central Bank President Christine Lagarde later in the day at 1900 GMT. Turkey's lira gave back only some of Thursday's gains after its central bank shocked with a 750 basis point interest rate to 25%. Events to watch for on Friday:* Federal Reserve Chair Jerome Powell gives keynote speech at annual Fed symposium in Jackson Hole. European Central Bank President Christine Lagarde also speaks at Jackson Hole.

Persons: Mike Segar, Mike Dolan, Jerome Powell, Christine Lagarde, Ifo, Jackson, Powell, Patrick Harker, Susan Collins, Collins, Harker, BoE, China's bourses, Christina Fincher Organizations: Wall, New York Stock Exchange, REUTERS, Federal Reserve, Nvidia, European Central Bank, Philadelphia Fed, Boston Fed, ECB, Bank of, Treasury, Reuters, Authorities, University of Michigan's, Marvell, Reuters Graphics Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, Jackson, Bank of England, Asia, Jackson Hole, Jakarta

JAKARTA, Aug 24 (Reuters) - Indonesia's talks with international partners on setting up a $20 billion fund for the country's transition from coal to cleaner energy have taken longer than anticipated and are complicated by rising borrowing costs, its finance minister said on Thursday. It was based on a similar $8.5 billion initiative in 2021 to help South Africa more quickly decarbonise its power sector. Another challenge is it will take time to hold public consultations with communities that could be affected by a project, such as the construction of a renewable power plant, the minister said. Indonesia has been pushing for coal power plant retirement financing to be seen as "acceptable" among global lenders and brought this up at a meeting of G20 finance ministers in July. The Association of Southeast Asian Nations (ASEAN) has included coal power plant retirement in its green taxonomy - a framework defining what investment is considered environmentally friendly.

Persons: Sri Mulyani Indrawati, Sri Mulyani, Gayatri Suroyo, Stefanno Sulaiman, Susan Fenton Organizations: Reuters, International Partners, World Bank, Asian Development Bank, The Association of Southeast Asian Nations, Thomson Locations: JAKARTA, United States, Japan, Indonesia, South Africa, Jakarta

☆ Biden to attend G20 summit in India, VP Harris goes to ASEAN
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

U.S. President Joe Biden speaks during a community event at the Lahaina Civic Center, in the fire-ravaged town of Lahaina on the island of Maui in Hawaii, U.S., August 21, 2023. REUTERS/Kevin Lamarque/File Photo Acquire Licensing RightsAug 22 (Reuters) - U.S. President Joe Biden will visit India from Sept. 7-10 for a summit of the Group of 20 nations while Vice President Kamala Harris will travel to Jakarta Sept. 4-7 to attend summits of Southeast Asian leaders, the White House said on Tuesday. White House national security adviser Jake Sullivan announced the trips as the BRICS group of major emerging economies - Brazil, Russia, India, China and South Africa - held a summit in Johannesburg. Reuters reported exclusively on Aug. 9 that Biden was unlikely to attend summits of the 10-nation Association of Southeast Asian Nations (ASEAN) in Jakarta, citing several diplomats saying it would be a significant disappointment if Biden did not go. Reporting by Susan Heavey and Arshad Mohammed, writing by David Ljunggren and Arshad Mohammed; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Kevin Lamarque, Kamala Harris, Jake Sullivan, Sullivan, Biden, Susan Heavey, Arshad Mohammed, David Ljunggren, Bill Berkrot Organizations: Lahaina Civic Center, REUTERS, White House, Reuters, Association of Southeast Asian Nations, ASEAN, Camp David, Thomson Locations: Lahaina, Maui, Hawaii, U.S, India, Jakarta, Brazil, Russia, China, South Africa, Johannesburg, United States, Asia, Pacific, Indo Pacific, South Korea, Japan, Camp

☆ Explainer: Cambodia's new leader Hun Manet, strongman or reformer?
▼ + stars: | 2023-08-22 | by ( Martin Petty | ) www.reuters.com time to read: +5 min

Hun Manet, nominee for Cambodia's prime minister, gestures as he registers at the National Assembly on the day that parliament votes to confirm the country's next prime minister, in Phnom Penh, Cambodia, August 22, 2023. The eldest of Hun Sen's five children, Hun Manet was born in 1977 in rural Cambodia. Hun Manet is married to Pich Chanmony, the daughter of a prominent Cambodian politician and has three children. In late 2021, Hun Sen declared Hun Manet his anointed successor and he was later endorsed by the CPP as "future prime minister". WHAT KIND OF LEADER WILL HUN MANET BE?

Persons: Hun Manet, Cindy Liu, Hun Sen, Will Hun Manet, Hun Sen's, Manet, Pich Chanmony, HUN MANET, Michael Perry Organizations: National Assembly, REUTERS, New York University, Britain's Bristol University, Cambodian People's Party, CPP, U.S ., ASEAN Business Council, Reuters, Thomson Locations: Phnom Penh, Cambodia, Cambodian, United States, Britain, China, U.S, New York

☆ Jakarta orders civil servants to work from home to fight soaring pollution
▼ + stars: | 2023-08-21 | by ( Heather Chen | ) edition.cnn.com time to read: +3 min

“The air quality in the Greater Jakarta Area has been very, very bad,” Widodo said. ASEAN is a regional bloc that brings together 10 Southeast Asian countries, many of which have long suffered high pollution levels in their major cities. Ministers in the Southeast Asian country confirmed this week that President Widodo had been battling a cough for weeks and suggested it could be related to worsening air pollution in Jakarta. Air pollution has long plagued the Greater Jakarta area, with factories, coal-fired power plants and traffic congestion all contributing to the smog, according to experts. Experts previously told CNN the health costs of Indonesia’s air pollution cannot be underestimated.

Persons: Joko, Widodo, ” Widodo, Heru Budi, Sigit Wijatmoko, ” Wijatmoko, “, Wijatmoko, Sandiaga Uno Organizations: CNN, Jakarta Gov, CNN Indonesia, 43rd ASEAN Summit, Jakarta Convention Center, ASEAN, Ministers, Tourism, ” Tourism Locations: Jakarta, Swiss, Greater Jakarta Area, Greater Jakarta

☆ Biden, Kishida, Yoon at historic Camp David summit
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +3 min

U.S. President Joe Biden holds a joint press conference with Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol during the trilateral summit at Camp David near Thurmont, Maryland, U.S., August 18, 2023. REUTERS/Jim Bourg Acquire Licensing RightsAug 18 (Reuters) - After meeting at Camp David on Friday, U.S. President Joe Biden, Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol spoke to reporters from all three countries for about an hour, delivering prepared remarks and answering questions. This is a new era of partnership between Japan and the Republic of Korea and the United States." JAPANESE PRIME MINISTER FUMIO KISHIDA"This has been a precious opportunity for myself to further deepen the relationship of trust and confidence." Speaking of Camp David: "It is a huge honor to have printed a fresh page in its history with this meeting."

Persons: Joe Biden, Fumio Kishida, Yoon Suk, Camp David, Jim Bourg, JOE BIDEN, Peter the Great, David, YOON SUK, Trevor Hunnicutt, Hyonhee Shin, Eric Beech, Heather Timmons, Grant McCool Organizations: Japanese, South, REUTERS, Camp, South China, ASEAN, Pacific, SOUTH, IAEA, Thomson Locations: Camp, Thurmont , Maryland, U.S, Japan, Republic of Korea, United States, Korea, Ukraine, China, Taiwan, East, South, North Korea

☆ India's Mahindra aims to double tractor exports with new platform
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

A Mahindra and Mahindra sign at one of the carmaker's showrooms in Mumbai, India, August 30, 2016. REUTERS/Danish Siddiqui/File Photo Acquire Licensing RightsMUMBAI, Aug 15 (Reuters) - India's largest tractor maker, Mahindra and Mahindra (MAHM.NS), launched a new platform to manufacture lightweight tractors on Tuesday, which would enable the company to double its exports within three years, a senior company official told Reuters. The new platform, named Oja, was developed in collaboration with India's Mahindra Research Valley and Japan's Mitsubishi Mahindra Agriculture Machinery with an investment of 12 billion rupees ($144 million), Hemant Sikka, president of farm equipment sector at Mahindra said. On Tuesday, Mahindra launched three new tractors in Cape Town, South Africa. The company is planning to introduce tractors from the new Oja platform in various locations including North America, ASEAN countries, Brazil, Australia, Europe, and the SAARC region.

Persons: Danish Siddiqui, Hemant Sikka, Rajendra, Mark Potter Organizations: Mahindra, REUTERS, Danish, Rights, Reuters, India's Mahindra Research, Mitsubishi Mahindra Agriculture Machinery, Thomson Locations: Mumbai, India, Cape Town , South Africa, North America, ASEAN, Brazil, Australia, Europe, SAARC

☆ Vietnam might be at the forefront of Southeast Asia's A.I. development, JPMorgan says
▼ + stars: | 2023-08-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVietnam might be at the forefront of Southeast Asia's A.I. development, JPMorgan saysRanjan Sharma, head of ASEAN TMT equity research at JPMorgan, says the country has a large and growing base of IT personnel.

Persons: Ranjan Sharma Organizations: JPMorgan, ASEAN

☆ India is a rising force in Southeast Asia as region seeks to counter China's dominance
▼ + stars: | 2023-08-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +8 min

(Photo credit RAVEENDRAN/AFP via Getty Images) Raveendran | Afp | Getty ImagesIndia is taking major strides to expand its influence in Southeast Asia, a move that will allow countries to counter China's dominance in the region. "India certainly is becoming more ambitious in Southeast Asia. "This is particularly salient to the maritime sphere, namely the South China Sea, where overlapping sovereignty disputes threaten regional stability and openness," he added. "It continues to maintain a very independent streak in its foreign policy, which suits a large number of Southeast Asian countries." While China remained the most influential and strategic power in Southeast Asia, its standing has diminished, the Southeast Asia survey from February showed.

Persons: Pant, Subrahmanyam Jaishankar, Narendra Modi's, Satoru Nagao, Nagao, Derek Grossman, Modi, Xi Jinping, Ted Aljibe, Enrique Manalo, Rand's Grossman, Joanne Lin, Lin, ISEAS's Lin Organizations: Indian, Getty, Afp, Observer Research Foundation, CNBC, Southeast, Hudson Institute, Vietnam Air Force, Rand Corporation, TED ALJIBE, Initiative, ASEAN Studies, Yusof Ishak Institute, Observers, Pant Observer Research, China -, Wilson Center, ASEAN Wonk, U.S, ASEAN Studies Centre, Yusof, Ukraine, U.S ., New Delhi's Observer Research Foundation Locations: New Delhi, AFP, Southeast Asia, India, China, Beijing, Vietnam, Tokyo, China —, Manila, Philippine, Delhi, The Hague, Philippines, Malaysia, Brunei, ISEAS, Singapore, Asia, Europe, China - U.S, U.S, New

☆ Indonesia says Mitsubishi Motors plans to invest $375 mln in 2024
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

A man walks near Mitsubishi cars as he visits Tokyo Motor Show in Tokyo, Japan October 24, 2019. "We are optimistic that, if implemented, this can boost investment and increase demand to use EVs," Agus said. A Mitsubishi spokesperson said executives from its Tokyo headquarters on Wednesday met with Agus for talks, declining to comment further. Mitsubishi reported combined retail and wholesale sales in the ASEAN region of 120,000 vehicles for the three months to June 30, dropping 1.6% from a year earlier. In Thailand, its retail and wholesale sales slumped to 17,000 units during that period, down from 25,000 a year earlier.

Persons: Soe Zeya, Agus Gumiwang Kartasasmita, Agus, Bernadette Christina, Fransiska, Rocky Swift, Daniel Leussink, Louise Heavens, David Evans Organizations: Mitsubishi, Tokyo Motor, REUTERS, Mitsubishi Motors, Wednesday, Japan's Nikkei, Guangzhou Automobile Group, Thomson Locations: Tokyo, Japan, JAKARTA, Indonesia, Thailand, China, ASEAN, Jakarta

Sources said Biden's schedule for Asia is not official until it has been announced and could change. One senior diplomat referred to Indonesia having scheduled the ASEAN summits, which are normally held in November, for September, specifically to make is possible for Biden to attend and then go on to the G20. Sources said Biden was expected to send Vice President Kamala Harris in his place. Policy analysts said another no-show by Biden, who attended ASEAN meetings in Cambodia in November, would call that characterization into question. "Southeast Asia has been impressed that Washington under Biden has stepped up engagement with the region," Hiebert said.

Persons: Joe Biden, Jonathan Ernst WASHINGTON, Biden, we'll, Kamala Harris, Harris, Jonathan, Murray Hiebert, Hiebert, Ted Osius, Donald Trump, Barack Obama, David Brunnstrom, Simon Lewis, Michael Martina, Stanley Widianto, Grant McCool Organizations: REUTERS, Reuters, Association of Southeast Asian Nations, ASEAN, White, White House, Biden, U.S ., Southeast, Washington's Center, Strategic, International Studies, ASEAN Business Council, Democrat, Republican, Thomson Locations: Tusayan , Arizona, U.S, JAKARTA, Jakarta, India, Vietnam, Indonesia, Washington, Asia, American, Papua New Guinea, Australia, ASEAN, Cambodia, Southeast Asia, East Asia

☆ China tells Russia it will uphold 'impartial' position on Ukraine
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

Russian Foreign Ministry/Handout via REUTERS/File PhotoBEIJING, Aug 7 (Reuters) - China's Foreign Minister Wang Yi told his Russian counterpart Sergei Lavrov in a phone conversation on Monday that China would uphold an independent and impartial position on Ukraine as it strives to find a political settlement to the issue. The statement came after the ministry said earlier on Monday that international talks in Saudi Arabia at the weekend on finding a peaceful resolution to the Ukraine crisis had helped "to consolidate international consensus". More than 40 countries, including China, India, the United States and European countries, but not Russia, took part in the Jeddah talks that ended on Sunday. Beijing has refused to condemn Moscow for the invasion of Ukraine it launched in February 2022. It has offered its own peace plan, which received a lukewarm response in both Russia and Ukraine, while the United States and NATO were sceptical.

Persons: Sergei Lavrov, Central Foreign Affairs Commission Wang Yi, Wang Yi, Lavrov, Li Hui, Farah Master, Andrew Cawthorne, Alex Richardson Organizations: Russia's, Central Foreign Affairs Commission, ASEAN Foreign, Russian Foreign Ministry, REUTERS, China's, Eurasian Affairs, NATO, Beijing, Thomson Locations: Jakarta, Indonesia, BEIJING, China, Ukraine, Saudi Arabia, India, United States, Russia, Jeddah, Beijing, Moscow

REUTERS/Mike Blake/File PhotoWASHINGTON, Aug 3 (Reuters) - The United States should extend electric vehicle tax credit benefits to Vietnam if it wants to encourage a landmark investment from the country in U.S.-based manufacturing, the head of the main U.S. business lobby for Southeast Asia said. Rules included in the U.S. Inflation Reduction Act (IRA) aimed at reducing U.S. dependence on Chinese EV battery supply chains currently only benefit countries that have free trade agreements with Washington - a list that excludes Vietnam. VinFast responded to President Joe Biden's call for electric vehicles to be manufactured in the United States, Osius told Reuters in an interview on Thursday, "Now they will have some asks. They will want to be part of the EV supply chain and they won't want to be discriminated against in favor of other EV producers." The United States signed a deal in March with Japan on critical minerals that ensures Japanese cars will benefit from the tax credit.

Persons: Mike Blake, Ted Osius, VinFast, Joe Biden's, Osius, EVs, Biden, Donald Trump, David Brunnstrom, Simon Lewis, David Shepardson, Don Durfee, Diane Craft Organizations: Los Angeles Auto, REUTERS, EV, Washington, VinFast, U.S, U.S ., ASEAN Business Council, Reuters, United, EU, Economic, Thomson Locations: Los Angeles , California, U.S, United States, Vietnam, Southeast Asia, North Carolina, Japan, Britain, New Delhi, China, Washington, Indonesia, Asia, Pacific

☆ ASEAN chief says the 5-point consensus remains the 'main political document' to assist Myanmar
▼ + stars: | 2023-08-04 | 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 chief says the 5-point consensus remains the 'main political document' to assist MyanmarKao Kim Hourn, secretary-general of ASEAN, discusses Myanmar's military rule and says ASEAN can only assist "as much as possible."

Persons: Myanmar Kao Kim Hourn Organizations: ASEAN Locations: Myanmar

[1/2] Hun Manet, son of Cambodia's Prime Minister Hun Sen is seen at a polling station on the day of Cambodia's general election, in Phnom Penh, Cambodia, July 23, 2023. "We hope to host (Hun Manet). Osius said the U.S. approach to Cambodia had been "punitive" and Washington should look for opportunities for dialogue. "Better for (Hun Manet) if there if he's got some strategic options, and that could mean improving ties with us," he said. Cambodia's Washington embassy did not immediately respond to a request for comment.

Persons: Hun Manet, Cambodia's, Hun Sen, Cindy Liu, Ted Osius, he’s, he's, Osius, Hun, Simon Lewis, David Brunnstrom, Marguerita Choy Organizations: REUTERS, Southeast Asia, Reuters, Cambodian People's Party, U.S ., ASEAN Business, General Assembly, Beijing, U.S . State Department, Thomson Locations: Phnom Penh, Cambodia, Washington, New York, Southeast, U.S, Vietnam, United States, China, Ream, UNGA

☆ Southeast Asia moves closer to economic unity with new regional payments system
▼ + stars: | 2023-07-30 | by ( Nyshka Chandran | ) www.cnbc.com time to read: +3 min

A new regional cross-border payment system recently implemented by Southeast Asian nations could deepen financial integration among participants, bringing the ASEAN bloc closer to its goal of economic cohesion. A unified cross-border digital payment system will "foster a sense of regionalism and ASEAN-centrality in managing international affairs," he added. How it worksBy connecting QR code payment systems, funds can be sent from one digital wallet to another. For instance, Malaysian tourists in Singapore can make a payment with Malaysian ringgit funds in their Malaysian digital wallet when making a transaction. Or, a Malaysian worker in Singapore can send Singapore dollar funds in a Singaporean digital wallet to a recipient's wallet in Malaysia.

Persons: Joko Widodo, Nico Han Organizations: Association of Southeast Asian Nations, ASEAN, Analysts, U.S, ., Southeast, Risk Intelligence, Malaysian, Singapore, Bank of International Locations: Jakarta, Indonesia, Malaysia, Thailand, Singapore, The Philippines, Southeast Asia, Malaysian, Switzerland

☆ Biden to meet with leaders of South Korea, Japan at Camp David
▼ + stars: | 2023-07-28 | by ( Nikki Carvajal | ) edition.cnn.com time to read: +3 min

As CNN previously reported, the leaders of South Korea and Japan promised to resume ties in a fence-mending summit in March – the first such meeting in 12 years – as the two neighbors sought to confront threats from North Korea and rising concerns about China. Mutual visits by Japanese and South Korean leaders had been suspended as ties soured over several issues, including a dispute over proper compensation of South Koreans who were forced to work in Japan during the Japanese occupation of South Korea in the early 20th century. In recent years the often fraught relations have undermined efforts by the United States to present a united front against North Korea – and the growing assertiveness of Beijing. The two East Asian neighbors have a long history of acrimony, dating back to Japan’s colonial occupation of the Korean Peninsula a century ago. Biden met with both leaders for a trilateral meeting in May 2023 in Hiroshima, Japan, during the G7 meeting and in June 2022 at the NATO summit in Madrid.

Persons: Joe Biden, Kishida Fumio, Yoon Suk, Camp David, “, ”, David, Biden, Barack Obama, John Kirby, Yoon, Kishida, they’ve, ” Kirby Organizations: CNN, South, Camp, White, DPRK, ASEAN, United States National Security, ROK, Mutual, North Korea –, NATO Locations: United States, Japan, Republic of Korea, South Korea, North Korea, China, Beijing, Hiroshima, Madrid

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