Markets

Oil prices extend losses on price war, virus fallout

Oil prices extended the gloom on Monday after a Saudi-Russian price war and an equities meltdown sparked by the coronavirus pandemic saw their biggest weekly losses in more than a decade.US benchmark West Texas Intermediate (WTI) briefly fell below US$30 a barrel, or 5.5 percent, in morning Asian trade before regaining its footing.It was trading at US$31.13 a barrel at around 0530 GMT, down nearly two percent from Friday's close.The Brent global benchmark was down 3.28 percent at US$32.7

17 March 2020
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Engineered food on the rise in ASEAN

Other than its Instagram-able tourist destinations, Southeast Asia is well known for its variety of food. From the mouth-watering delicacies on the streets of Thailand, Cambodia, and Malaysia – just to name a few – to the Michelin starred restaurants in Singapore that serve fine dining quality cuisine with a dash of authentic local flavours.However, there is pressure on our food system to produce 70 percent more food to feed a population of 10 billion people globally by 2050.

15 March 2020
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Oil crashes after Saudi Arabia launches price war

Oil plunged over 20 percent Monday after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets.The two main contracts both lost about a fifth of their value in morning Asian trade, with West Texas Intermediate sliding to about US$32 a barrel and Brent crude to about US$36 a barrel.Saudi Arabia launched an all-out oil war Sunday with the biggest cut in its prices in the last 20 years after a failing to clinch a d

9 March 2020
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World's finance chiefs start COVID-19 fightback

After a fortnight of carnage on global markets, Europe is under pressure to join the United States (US) and Asia in drastic action on spending and interest rates to confront the coronavirus crisis.Investors are looking to a meeting of the European Central Bank (ECB) next week for reassurance that monetary policymakers have a grip on the epidemic's deepening impact on companies and the economy at large.But an emergency rate cut this week by the US Federal Reserve (Fed) did nothing to stem

7 March 2020
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Islamic finance in Southeast Asia

The global Islamic finance market is growing moderately, because of the strong investments in the Halal sector, infrastructure, and Sukuk bonds. In 2018, Brunei hosted the Brunei Islamic Capital Market (BICAM) Conference, at the Rizqun International Hotel where more than a dozen international experts in Islamic finance met, deliberated and raised awareness on growing Islamic capital markets.

27 February 2020
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Islamic tourism: A niche market for Brunei

When speaking about the drop in his country’s tourism sector, an unnamed government official suggested that Lao PDR should put more effort into attracting tourists from Muslim countries in the region. He said that by providing prayer rooms in public places along with promoting halal (permissible or lawful in traditional Islamic law) restaurants, the country would be more welcoming to Muslim visitors.

15 February 2020
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Upskilling ASEAN’s workforce

Technological disruption will significantly affect ASEAN’s workforce, driving growth and creating new demand for workers. Based on a 2018 study, ‘Technology and the future of ASEAN jobs’ by technology company Cisco and Oxford Economics Data, 6.6 million jobs will become redundant by 2028 across the six largest ASEAN economies – Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

11 February 2020
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Upgrading Cambodia’s public service

It was recently reported that the United Nations Development Program (UNDP) had launched an initiative to connect Cambodia’s public service sector digitally with that of other countries.

23 January 2020
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Investing in ASEAN start-ups

Southeast Asia is proving to be one of the most successful and fastest growing digital markets in the world. While the likes of Grab and Lazada have established themselves in the region, many other start-ups are fast-developing unique and innovative forms of services to tap into the lucrative digital economy. Singapore is currently home to some of the most heavily funded start-ups in the region, including Grab and Sea.

22 January 2020
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Labour rights abuse on the rise

Labour rights violations in ASEAN are among the negative effects of an increase in production due to the United States (US)-China trade war which has resulted in a shift of some production from China to this part of the world. While the region is embarking on the Fourth Industrial Revolution, numerous industries in ASEAN still rely on labour-intensive factories.

17 January 2020
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Obstacles To Myanmar’s Growth In 2020

The ASEAN Post recently published an article on whether 2020 will be a good year for Myanmar’s economy. That article noted that the ASEAN +3 Macroeconomic Research Office (AMRO) had given Myanmar’s economy a positive outlook for the fiscal year of 2019 to 2020; expecting it to expand by 7.1 percent up from 6.8 percent in the previous fiscal year.

12 January 2020
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