Southeast Asia is a region that’s vast developing. It has evolved from an agricultural society to one of the fastest growing regions in the world within the span of a century. One of the main drivers of such growth was due to Southeast Asia’s position as a low-manufacturing hub. This combined with cheap exports, provided the region with the necessary income to develop.
On 26 March 2018, GrabTaxi Holdings Pte. Ltd. (Grab), a technology company that offers ride-hailing, ride sharing, food delivery and logistics services through its mobile app in Southeast Asia; announced that it had acquired its competitor’s (Uber) Southeast Asia operations.
Several factors have led to an unprecedented boom in the Chinese outbound tourism sector and this especially includes rising incomes in China. According to the United Nations World Tourism Organization (UNWTO), 131 million overseas trips were made by Chinese people in 2017.
The manufacturing sector has been one of ASEAN’s key economic growth drivers. Already, the region is a global manufacturing hub and is estimated to grow at a compound annual growth rate (CAGR) of 6.6 percent between 2016 to 2020.
The baht is looking to repeat its performance as one of Asia’s best currencies last year. Monday’s growth data will shed light on a key pillar of its recent strength and may help it stay in pole position at least through the first quarter.
Southeast Asians are spending more on Valentine’s Day, with new research confirming that the most romantic day of the year is becoming increasingly commercialised.
It was fear of being dominated by a Chinese behemoth that sparked an attempt by large French and German rail companies to join forces to create an European industrial champion.