China heads into the new year with its factories back in contractionary territory as the threat of a prolonged trade war dampens sentiment and stimulus struggles to gain traction.The manufacturing purchasing managers index dropped to 49.4 in December, the weakest since early 2016 and below the 50 level that denotes contraction.
While in most countries, an ageing population is a sign of potential dwindling economic productivity, Brunei paints a different picture to this conundrum.Speaking at a forum titled ‘New Frontiers in Social Research on Ageing: Implications for Brunei Darussalam’, earlier this week, the country’s Minister of Culture, Youth and Sports, Awang Haji Aminuddin said that Brunei sees the elderly in the country as critical stakeholders towards future national development.“We don’t paint a pessimistic p
A Vietnam court Friday ordered ride-hailing app Grab to pay a cab company more than US$200,000 for losses incurred due to competition – a judgement blasted by the firm as "a giant step backwards" for the country's tech community.The Singapore-based app, which launched in Vietnam in 2013, has been embroiled in a lawsuit with Vinasun, a major taxi provider in the south of the country, since May 2017.
Until 1953, Lao PDR was a French colony. Following a successful overthrow of the country’s monarchy in the mid-seventies by communist forces, Lao PDR then spent years in isolation.
Southeast Asia’s roads are home to over 20 million cars. This number is expected to rise to 62 million by 2040 according to the International Energy Agency (IEA). At the same time, new high-speed rail systems are being built all over the region, resulting in the recent infrastructure boom.The growth of the transportation sector is a welcome sign as it indicates that the region is catching up economically with the rest of the world.
Thai farmers welcomed a new law allowing cultivation and use of marijuana for medical purposes Wednesday, in an Asian first that promises an economic bonanza but also fears that foreign companies could reap the rewards.Thailand's National Assembly passed a bill Tuesday legalising the use of marijuana and kratom - a traditional herb - for research and medical use. The move is a significant step for a region that levies harsh sentences for drug violations.
Last year, economists predicted Southeast Asia would be blessed with a strong and vibrant 2018. For next year, they’re not quite so optimistic.Moderating economic growth and higher interest rates lie ahead. The Federal Reserve is set to keep everyone on edge as it navigates an even trickier interest-rate path in 2019, while the trade war between the U.S. and China is already hurting exports in the region.
Earlier this year, the Lao government had targeted to attract around 5 million tourists and earn around US$900 million this year. Unfortunately, recent local reports quoted Minister of Information, Culture and Tourism Bosengkham Vongdala as telling a parliament’s session that the goal may not be realised this year. In the first half of the year, the figure seemed hopeful enough at 2.1 million.
The seaside province of Rayong, located on Thailand’s eastern gulf coast is well known for its tranquil holiday beaches, crystal clear waters and a dazzling selection of fresh tropical fruits from nearby fruit orchards. The picturesque town is the perfect place for a weekend’s escapade – 180 kilometres from the hustle and bustle of Bangkok or just a two and half hour drive away.However, Rayong may not be a getaway from the fast-paced urban lifestyle for much longer.
A recent Credit Suisse report named Thailand the most unequal country in the world, with just one percent of the population owning 66.9 percent of the nation’s wealth. The findings prompted We Fair Network, social justice advocacy group made up of 13 organisations to call for serious reforms of Thailand’s budget and welfare system.The group presented its proposal for the reform of the country’s welfare system based on seven aspects to key political figures at a forum earlier this week.
With memories of Malaysia’s unexpected political shake-up still fresh, investors have three big elections to stay on edge about in the first half of 2019.Thailand is set to finally hold a vote on 24 February after several delays since the ruling party took over in a bloodless military coup in 2014. Indonesia’s turn is 17 April, a rematch between President Joko Widodo and his rival Prabowo Subianto.
Ever since the financial crisis of 1997 swept Asia, many observers felt that some of the affected countries would never fully recover. Southeast Asian countries were among the victims, with Indonesia and Thailand among the worst hit. The currencies of both these countries were hit hard by speculative attacks which devalued them severely.
