ASEAN

Nor Shamsiah Mohd Yunus has been named as the new governor of Bank Negara Malaysia (BNM)(Illustrative photo: AFP/VNA)   Kuala Lumpur (VNA) - Nor Shamsiah Mohd Yunus has been named as the new governor of Bank Negara Malaysia (BNM). Nor Shamsiah served as deputy governor of the BNM for six years and her term ended in 2016. She replaces Muhammad Ibrahim, who stepped down early this month, just two years after he was appointed. His resignation followed doubts on the role of the BNM in an agreement related to the strategic investment fund – 1Malaysia Development Berhad (1MDB). 1MDB is formed by then PM Najib Razak in 2009 with an aim to serve the country’s socio-economic development. Najib was accused for the loss of 3.7 billion USD in transactions with other countries through the 1MDB. However, the fund representative and the former leader repeatedly rejected the accusation. New PM Mahathir Mohamad has vowed to investigate the case and reclaim the loss.-VNA … [Read more...] about New Malaysian central bank governor named

Indonesian police have arrested 10 terror suspects during the Eid al-Fitr holiday. (Photo: Straits Times) Jakarta (VNA) – Indonesian police have arrested 10 terror suspects during the Eid al-Fitr holiday. The police said the anti-terror squad, or Densus 88, on only June 18 arrested four terror suspects in West Java and Central Java. West Java Police spokesman Syahar Diantono said the four arrested are suspected of being linked with networks of the Islamic State (IS), an international terrorist organisation. During the arrest, the Densus 88 also seized a number of evidence, Syahar said, adding that the four suspects, from Riau and Makassar, communicate through Telegram messaging app. The police are investigating whether these men are linked with the Jamaah Ansharud Daulah network, according to the spokesman. On June 13, the Densus 88 also arrested five terror suspects in Blitar, East Java and one in Karanganyar, Central Java. With the suspects, the police found documents … [Read more...] about Indonesia arrests 10 terror suspects during Eid al-Fitr holiday

TCEB Vice President of Business Nichapa Yoswee (Source: PRD)   Bangkok (NNT/VNA) – Thailand’s Conventions and Exhibitions Bureau (TCEB) has organised TIME 2018 to expand high-value markets catering to the meetings and incentives industry.  TIME 2018 is one of several major events organised by TCEB’s Conference and Tourism Promotion Department aimed at creating marketing opportunities, maximising the potential of MICE businesses, and focusing on “long-haul markets” such as Europe, North America, and Oceania. Clients from long-haul centres tend to extend their stay after the meetings for vacation purposes due to the long travel distance and are often repeat customers, thereby providing high economic value for Thai businesses.  TCEB Vice President of Business, Nichapa Yoswee, disclosed that meetings and incentives account for around 50 percent of revenue from the country’s meetings, incentives, exhibitions, and conferences (MICE) … [Read more...] about Thailand to target high value markets for MICE industry

Personal remittances from Overseas Filipino Workers (OFWs) in the first four months of the year totalled 10.4 billion USD, a rise of 4 percent year-on-year, said the Central Bank of the Philippines on June 19 (Source: www.rappler.com)   Hanoi (VNA) - Personal remittances from Overseas Filipino Workers (OFWs) for the first four months of the year totalled 10.4 billion USD, a rise of 4 percent year-on-year, said the Central Bank of the Philippines on June 19.   The bank governor Nestor Espenilla said the continued growth in personal remittances during the first four months of 2018 was driven by steady remittance inflows from land-based OFWs with work contracts of one year or more, which aggregated to 8.1 billion USD. Meanwhile, compensation of sea-based workers and land-based workers with short-term contracts reached 2.1 billion USD.    He added that personal remittances from OFWs increased by 12.9 percent against the same period last year to reach 2.6 billion USD in … [Read more...] about Philippine remittances reach over 10 bln USD in first four months

Car industry players were enjoying brisk sales thanks to the zero-rate GST (Illustrative image. Source: The Star Online) Kuala Lumpur (VNA) – Malaysian businesses have reported an increase in sales since the goods and service tax (GST) rate was set to zero at the start of this month, according to the local news website The Star Online. President of Malaysia-Singapore Coffeeshop Proprietors’ General Association Ho Su Mong said its 20,000-odd members in Malaysia re­­corded between 10 percent and 20 percent in­­crease in patronage. “There is a psychological effect to it; more people are coming in with higher expenditure power,” he said. In the long run, the general costs of goods would decrease by more than 6 percent as the GST had affected different stages of the supply chain, he added. At the Council of Eminent Per­sons’ meeting with entrepreneurs on June 18, former governor of Bank Negara Malaysia (the Central Bank of … [Read more...] about Malaysia’s firms record sale increase thanks to zero-rate GST

Paris (VNA) - French businesses are looking to promote their technology and products in the Association of Southeast Asian Nations (ASEAN), aiming to raising France’s competitiveness in a region until now dominated by goods from Japan, the Republic of Korea and China. The French Senate and Business France, a governmental agency in charge of promoting foreign trade, co-organised a recent workshop on the ASEAN market to this purpose. Statistics of the French Treasury show ASEAN is France’s second biggest trade partner in Asia, with bilateral trade turnover standing at 31 billion EUR in 2017, up 5.9 percent year on year. France’s exports to ASEAN saw a 3.7 percent increase in 2017 while its imports from the bloc surged 8.1 percent. France holds an approximately 1.6 percent share of the ASEAN market, which is not high but has stayed stable through the past 10 years. This is a positive sign compared to other markets where France’s shares are declining. Among … [Read more...] about ASEAN – a priority economic partner of France

Illustrative image (Source: Internet)   Hanoi (VNA) - Singapore's non-oil domestic exports (NODX) rose 15.5 percent year-on-year in May, according to data released on June 18 by Enterprise Singapore, a government agency in charge of enterprise development. The NODX growth in May was attributed to the growth in non-electronic exports which outweighed the decrease in electronics. On a month-on-month seasonally adjusted basis, Singapore's NODX increased 10.3 percent in May to 16.9 billion SDG (around 12.49 billion USD), following the previous month's 6.5 percent growth, due to the rise in both non-electronic and electronic NODX. According to the agency, Singapore's electronic NODX declined 7.8 percent year on year in May, following the 6.9 percent decrease in April. Non-electronic NODX expanded 26.2 percent year on year, after the 19.6 percent increase in the previous month. Among the top NODX markets of Singapore, the European Union (EU), the United States (US) and Japan … [Read more...] about Singapore’s non-oil domestic exports rise 15.5 percent in May

Indonesian police officers securing an area following an attack on the police headquarters last month. (Photo: EPA/VNA) Hanoi (VNA) - Indonesian police have arrested terrorists in East and Central Java provinces, suspected of planning several attacks in government offices and banks operating in Blitar city, East Java province. The six terror suspects arrested in Blitar and in Central Jaga regency of Karanganyar on June 13-14 were members of the local radical group Jamaah Ansharut Daulah (JAD) linked to the Islamic State (IS), an international terrorist organisation, police said. Indonesia National Police spokesman Muhammad Iqbal said police have evidence of their planned attacks in several banks and state offices in Blitar. They also planned to attack police stations in the city, he added. Police also seized weapons, bullets and documents containing jihad tutorial manuals from the five suspects arrested in Blitar. Another suspect arrested in Karanganyar on June 14 night was … [Read more...] about Indonesia arrests terror suspects

Thailand’s upper northern provinces will organise Lanna Expo 2018 in Chiang Mai next week. (thainews.prd.go.th) Bangkok (NNT/VNA) – Thailand’s upper northern provinces will organise Lanna Expo 2018 in Chiang Mai next week in bid to promote the region's trade and investment. Upper Northern Region Group One, including Chiang Mai, Lampun, Lampang, and Mae Hong Son, will hold Lanna Expo 2018 during June 22 and July 1, 2018 at the International Conference Centre in Chiang Mai to promote trade and investment as well as support the investment cycle which contributes to an economic growth. Provincial Governor of Chiang Mai Pawin Chamniprasert said the event will be held under the "Arts of Lanna for the Thai Values" theme, featuring 11 activity zones showcasing food, goods, and other items. The event will feature the Northern Thailand Food Valley zone showcasing agricultural products and food, OTOP & SMEs zone showcasing the goods from the region, tourism zone … [Read more...] about Lanna Expo 2018 to kick off in Chiang Mai next week

Tokyo (VNA) – Japan reiterated its support for the central role of the Association of Southeast Asian Nations (ASEAN) in the regional architecture at the 33rd ASEAN-Japan Forum held in Tokyo on June 13. The annual deputy ministerial forum, part of the ASEAN-Japan dialogue relations, aimed to review bilateral cooperation and discuss measures for enhancing their strategic partnership. The ASEAN countries and Japan applauded the outcomes in their strategic partnership and cooperation through the implementation of the 2017 Revised Implementation Plan of the Vision Statement on ASEAN-Japans Friendship and Cooperation. Japan is currently the fourth biggest trade partner and the second largest FDI investor of ASEAN. Japan affirmed that ASEAN is an important partner of the country, and it will continue cooperating with and assisting ASEAN in building its community, enhancing connectivity, and narrowing development gap. In particular, Japan will further cooperate with ASEAN in trade, … [Read more...] about Japan reaffirms support for ASEAN’s centrality in region