Opposites attract. China's billions are already flowing into the Philippines via online gaming and infrastructure spending. Hot portfolio flows could be next.Philippine Stock Exchange is in talks with its Shenzhen counterpart on a possible investment, CEO Ramon Monzon told Bloomberg News.
As China’s burgeoning class of affluent travellers seek out more exotic destinations, Indonesia is cashing in.China is on track to become the biggest tourist market for Indonesia for the first time this year, overtaking Singapore. That’s after a 46 percent surge in visitors from the world’s second-largest economy to 1.4 million in the first eight months of the year.
President Xi Jinping warned of “severe” challenges while laying out a road map to turn China into a leading global power by 2050, as he kicked off a twice-a-decade party gathering expected to cement his influence into the next decade.In a speech that ran for more than three hours on Wednesday, Xi declared victory over “many difficult, long overdue problems” since he took power in 2012.
Three companies have offered to resume the search for flight MH370 but no decision has been reached on whether to take up any of the proposals, a Malaysian minister said Tuesday.US seabed exploration firm Ocean Infinity, Dutch company Fugro – which was involved in the original hunt – and a Malaysian company have made offers, Transport Minister Liow Tiong Lai told AFP.
The Philippine government plans to target additional companies in its crackdown on tax evasion, said Finance Secretary Carlos Dominguez.“We are on a roll, and this is part of the president’s programme to make our country more law abiding," Dominguez told Bloomberg Television’s Kathleen Hays in an interview in Washington on Friday. “Tax evasion is a really serious violation and we are going after” evaders.Dominguez said he expects a tax reform bill to receive lawmaker approval.
Stagnant spending and soft wage growth in Japan are forcing two of Asia’s biggest retailers – Fast Retailing and Seven & i Holdings – to court overseas consumers to drive long-term growth.Fast Retailing, operator of the Uniqlo chain, and convenience-store giant Seven & i will report earnings results Thursday amid a Japanese economy that’s still posing challenges even as it expands.
In the city of Monessen, Pennsylvania, then presumptive US Presidential candidate, Donald Trump took to the stage to address a crowd of supporters.“Today, I am going to talk about how to Make America Wealthy Again,” he began.Trump then continued his barrage of outrage and criticisms towards the elites who have been exporting jobs from the US and stifling the American middle class. His speech culminated to the unveiling of his own plan to bring jobs back to the country.
Sitting last month in the Phnom Penh villa that houses Cambodia’s main opposition party, Mu Sochua searched for a way to fight back against one of the world’s longest-serving leaders.Her boss in the Cambodia National Rescue Party, whose face adorns a banner hanging in front of the building, was in jail over accusations that he plotted with the US to seize power. Independent media outlets closed down due to government pressure.
The RCEP (Regional Comprehensive Economic Partnership) rose to prominence soon after US President Donald Trump rescinded his commitment to the TPP (Trans-Pacific Partnership) trade deal earlier this year.The TPP aimed to establish a regional FTA (Free Trade Agreement) and focussed on liberalising trade in goods and services, investment, intellectual property rights, environmental protection, labour, financial services, technical barriers to trade and other regulatory issues.
The Philippines' military chief hailed the United States as his nation's "number one ally" and announced a return of regular war games, following President Rodrigo Duterte's call for warmer ties.Duterte last week vowed to be "friendly" with the United States, signalling an end to relentless criticism that included a vow to end all joint military exercises and branding then US president Barack Obama a "son of a whore".Military chief General Eduardo
Malaysia, and to a lesser degree Indonesia, Thailand and the Philippines, remain more exposed to exchange rate risk than other developing economies in East Asia and the Pacific as global financial conditions tighten, the World Bank said.Companies and banks in these countries have sizeable external debt, although foreign exchange reserves currently appear adequate, the Washington-based multilateral lender said in a report on Wednesday.
Cambodian Prime Minister Hun Sen’s crackdown on his critics have taken a turn for the worse as opposition parliamentarians have fled the country for fear of being incarcerated like their opposition leader, Kem Sokha.Hun Sen’s actions came amidst fears that his 32-year rule in the country might end due to increased support for the opposition.
