Southeast Asia

Indonesian President hails PM Modi's leadership: 'Inspiration for us'

Indonesian President Prabowo Subianto, who arrived in Delhi to grace the 76th Republic Day celebrations, called Prime Minister Narendra Modi's leadership 'inspirational'

Rupee fell 20% in last 5 yrs, weakest currency in Southeast Asia: Moody's

Moody's Ratings on Thursday said the Indian rupee has depreciated by around 5 per cent in the last two years and has fallen by 20 per cent in the last five years making it one of the weakest performing currencies in South and South East Asia. Of the 23 rated Indian companies, Moody's assessed only six to be exposed to the effects of dollar strength, but these companies have sufficient mitigating factors. These companies are the three oil refining and marketing companies (OMCs), Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL), building materials producer UltraTech Cement, Bharti Airtel and ride sharing company ANI Technologies Pvt Ltd. "While the rupee has depreciated by only around 5 per cent in the last two years, it has fallen over 20 per cent since January 2020, making it one of the weakest-performing currencies in South and Southeast Asia," Moody's said in its report on Corporates '? South and Southeast Asia Emerging

Southeast Asian nations seek breakthrough in South China Sea disputes

Southeast Asian foreign ministers gathered Sunday for their first meeting this year under the regional bloc's new chair, Malaysia, seeking a breakthrough over Myanmar's drawn-out civil war and territorial disputes in the South China Sea. The retreat on the idyllic northern resort island of Langkawi was the first major meeting of the 10-member Association of Southeast Asian Nations hosted by Malaysia. Officials said it aims to chart the bloc's direction for the year as it tries to resolve Myanmar's deadly four-year crisis and tensions over China's increasing assertiveness in the South China Sea. Malaysian Foreign Minister Mohamad Hasan said ASEAN must bolster unity and make economic integration a top priority amid global uncertainties and the US-China rivalry in the region. He said the second term of incoming US President Donald Trump has also raised questions on how it will shape dynamics in the region. There is much to prepare for. Above all, what we need to anticipate are the ...

Brazil admits Indonesia as new member of Brics bloc of developing nations

In a statement, the Brazilian Foreign Ministry welcomed Indonesia for its entry into Brics

Indonesia dishes out first free meals in programme targeting 83 mn people

Despite being centrepiece of an election campaign that catapulted Prabowo to power last year, scheme was rolled out with little fanfare, with no official launch and just 190 kitchens involved

10 dead, 2 missing after landslides, floods hit Indonesia's Java island

Indonesian rescuers recovered 10 bodies that were swept away in flash floods or buried under tons of mud and rocks that hit hilly villages on the country's main island of Java, officials said on Monday. Two people are still missing. Torrential rains since last week have caused rivers to burst their banks, tearing through more than 170 villages in Sukabumi district of West Java province, as mud, rocks and trees tumbled down mountainside hamlets, said Lt. Col. Yudi Hariyanto, who heads a rescue command post in Sukabumi. Landslides, flash floods and strong winds devastated 172 villages and forced more than 3,000 people to flee to temporary government shelters, Hariyanto said. Authorities have warned nearly 1,000 people to evacuate as more than 400 houses are threatened by extreme weather. The disasters also destroyed 31 bridges, 81 roads and 539 hectares (1,332 acres) of rice fields, while 1,170 houses were flooded up to the roof. Extreme weather has also damaged more than 3,300 other

Asean ministers to discuss Myanmar at Thailand meeting, says Indonesia

At the invitation of current Asean host Laos, the meeting will talk about ways to approach the crisis which has gripped Myanmar since a 2021 military coup

Laos govt vows justice in alcohol poisoning case that killed 6 tourists

The Laotian government on Saturday officially acknowledged the mass poisoning that has killed at least six tourists, promising it would bring perpetrators to justice. Two Australian teenagers and a British woman died from suspected methanol poisoning after drinking tainted alcohol in Laos. An American man and two Danes also died, though their exact causes of death have not been released. A New Zealander also has been sickened. In a short statement released to the media, the Lao government said it was profoundly saddened over the loss of lives of foreign tourists in the town Vang Vieng and offered its condolences to the families of the victims. The Government of the Lao PDR has been conducting investigations to find causes of the incident and to bring the perpetrators to justice in accordance with the law, it said. Laos is a one-party communist state with no organised opposition and the government keeps a tight lid on information. In this case, officials have released almost no ...

Southeast Asian defence chiefs meet amid maritime disputes with China

Southeast Asian defence chiefs and representatives are meeting in the Laotian capital on Wednesday for security talks at a time of increasing maritime disputes with China in the Asia-Pacific and as the transition to a new US president looms. US Secretary of Defense Lloyd Austin was set to join the meetings of the Association of Southeast Asian Nations defence ministers in Vientiane, where many will be looking for assurances ahead of President-elect Donald Trump's return to power in January. Austin just wrapped up meetings in Australia with officials there and Japan's defence minister, where they pledged their ongoing support for ASEAN and their "serious concern about destabilising actions in the East and South China Seas, including dangerous conduct by the People's Republic of China against Philippines and other coastal state vessels". In addition to the US, other nations attending the two-day ASEAN meetings include Japan, South Korea, India, Australia and China. Along with the ...

Southeast Asia braces for factory influx amid Trump's China tariffs

As Trump geared up his campaign to retake the presidency earlier this year, calls from Chinese customers flooded WHA Group, one of Thailand's largest industrial estate developers, said CEO Jareeporn

BPEA Credit rebrands to Ascertis Credit, expands focus on Asia markets

The firm has raised four funds and invested over $1 billion in performing credit, primarily focusing on India and Southeast Asia

Nadda elected as Chairperson of 77th Session of WHO Regional Committee

Ministers of Health and delegates from the region's member states have flown to Delhi to deliberate upon key priorities

Southeast Asia's local industries struggle with influx of Chinese imports

In Thailand's Lampang, half the ceramics factories have closed, Indonesia's textile workers face mass layoffs, and Malaysia's 10% e-commerce tax fails to shield manufacturers

PM Modi's visit to Brunei and Singapore: What is India's Act East Policy?

India's Act East Policy focuses on building ties with Asean countries to promote peace, economic collaboration, and cultural ties while also acting as a counterweight to China's growing influence

Politics becoming family biz in Southeast Asia despite large democracies

Tapping into family lore helps with this generation's allure for voters. The child of a formidable political force has been elevated in Thailand, too

Southeast Asia's solar industry boom threatened by US-China trade tensions

Chinese firms that set up factories there over the last decade are now being accused of skirting US import levies on their home market

Indonesia celebrates Nusantara, the new capital struggling to take shape

Located about 800 miles northeast of Jakarta, construction of Nusantara involves five phases, to be completed by 2045, the govt intends to shift some 1.9 mn people from Jakarta to ease congestion

Daughter of former Thai Prime Minister Shinawatra to be nominated as new PM

Thailand's populist Pheu Thai party on Thursday said it will nominate its party leader, Paetongtarn Shinawatra, in a Parliament vote for the country's new leader after former Prime Minister Srettha Thavisin was removed by a court order over an ethical violation. Paetongtarn is the youngest daughter of former Prime Minister Thaksin Shinawatra, who is seen as force behind Pheu Thai. He was the first Thai politician ever to win an overall majority of seats. The residual popularity of Thaksin is a factor in the support for Paetongtarn. If Paetongtarn is approved by Parliament's vote, which is scheduled for Friday, she will become Thailand's second female prime minister, and the country's third leader from the Shinwatra family after her father and her aunt Yingluck Shinawatra.

Next round of India-Asean trade agreement review talks in November

The next round of talks for the ongoing review meeting of the India-Asean free trade agreement in goods will be held in November, an official statement said on Saturday. The third round of the negotiations was concluded on August 1 in Jakarta, Indonesia. Eight sub-committees have been constituted under the India-Asean Free Trade Agreement Joint Committee for undertaking negotiations on different areas related to the review of the pact. "The next meeting of the AITIGA (Asean-India Trade in Goods Agreement) Joint Committee will be held in India from 19-22 November 2024," the Commerce Ministry said. The AITIGA was signed in 2009. In September 2022, both sides tasked the AITIGA Joint Committee to undertake the review to make the agreement more trade-facilitative and mutually beneficial. During the third round of negotiations in Jakarta, Indonesia, all eight Sub- Sub-Committees dealing with national treatment and market access, rules of origin, standards, technical regulations, custom

Cheap Chinese exports prompt 'protectionist' response from Southeast Asia

Economic discontent towards China has intensified in Southeast Asia as Chinese companies with surplus inventory are selling goods at give-away prices