Page 5 - Southeast Asia

Viksit Bharat 2047: Northeast India as logistics gateway to Southeast Asia

The govt's focus on developing logistics infrastructure in the Northeast region (NER) marks a significant step towards unlocking the region's economic potential and promoting inclusive growth

Indonesia election: Unofficial vote count points to first round Prabowo win

Prabowo had about 59 per cent of votes according to three pollsters, based on ballots counted in a sample of voting stations nationwide

DTDC enters Malaysian market, strengthens presence in Southeast Asia

Express logistics company DTDC on Wednesday said it has entered the Malaysian market through its subsidiary, DTDC Global Express PTE Ltd, with the inauguration of an office in Kuala Lumpur. This newly established office, which further strengthens the company's global footprint, including in Southeast Asia, will offer enhanced trans-shipment solutions to its clients in Southeast Asia and the Australian peninsula, DTDC said in a statement. DTDC is already present in Singapore and Australia. As part of its global expansion plans, the company collaborated with Aramex last year to enhance its capabilities in cross-border logistics. Malaysia shares a healthy import and export relationship with India and has a prevalent Indian diaspora, according to the company. The newly established office will provide export and import services to and from India, Singapore, and Australia, along with handling local deliveries in Malaysia, it said. "The expansion in Malaysia will add to our capabilitie

Bhutan unveils Gelephu City project extending from India to SouthEast Asia

"We are in a unique position to reap great benefits if we seize the opportunity, make good plans, and work together diligently," said the Bhutanese King in his address

WHO urges partners to continue fostering collaboration to end AIDS by 2030

On World AIDS Day, WHO called upon member states, partners and communities in the Southeast Asia Region and around the world to continue fostering collaboration to address the challenges in ending the disease by 2030 and empower communities to lead in shaping the response forward. Globally, an estimated 39 million people are living with HIV. In 2022, around 1.3 million people acquired HIV and around 6,30,000 people died from AIDS-related causes, said Dr Poonam Khetrapal Singh, the WHO Regional Director for South-East Asia. In the South-East Asia Region, an estimated 3.9 million people are living with HIV, accounting for around 10 per cent of the global burden. In 2022, an estimated 1,10,000 people became newly infected with HIV and 85,000 people in the region died of AIDS-related causes. This accounted for over 13 per cent of the global burden of AIDS-related death, Dr Khetrapal Singh said. Over the past decade, the Southeast Asia Region had substantial progress with a remarkable .

Hyderabad-based CtrlS Datacenters announces plan to invest $2 bn in 6 years

Company expects to hire more than 1,000 people, especially senior leaders

Between manufacturing and services, can AI show India a third way to grow?

Even if generative artificial intelligence has been overhyped, it's safe to assume that ChatGPT-type bots will only get better at routine tasks like writing computer software

Climate change pushes Southeast Asia to finally start sharing power

The urgency for Southeast Asian nations to switch to clean energy to combat climate change is reinvigorating a 20-year-old plan for the region to share power. Malaysia and Indonesia inked a deal in Bali, Indonesia last month to study 18 potential locations where cross-border transmission lines can be set up. Those links could eventually generate power roughly equivalent to what 33 nuclear power plants would produce in a year. They are economically and technically feasible, and now are supported by regional governments, said Beni Suryadi a power expert at the ASEAN Centre for Energy in Jakarta, Indonesia. The Association of Southeast Asian Nations or ASEAN is a political and economic gathering of 10 countries across a vast region, from tiny Brunei and Singapore to military-controlled Myanmar and fast-rising economic power Vietnam. Experts describe imports by Singapore of hydroelectric-generated power from Laos via transmissions through Thailand and Malaysia as a pathfinder project,

Southeast Asia hold first joint navy drills near disputed S China Sea

The Association of Southeast Asian Nations began its first joint naval exercise on Tuesday at a time when several member countries are responding more strongly to increasing Chinese assertiveness in the area. The non-combat drills, named ASEAN Solidarity Exercise, include joint maritime patrol operations, search and rescue operations, and humanitarian and disaster relief, Indonesian military chief Adm. Yudo Margono said. He said the five-day exercise in Indonesia's Natuna waters aims to boost military ties among the ASEAN nations and enhance interoperability. The drills also involve civilian groups involved in humanitarian relief and disaster prevention. ASEAN nations have taken part in naval exercises before with other countries including both the United States and China but this week's drills are the first involving just the bloc and are being read by many as a signal to China. China's nine-dash line, which it uses to demarcate its claim to most of the South China Sea, has brou

Vertex Ventures' SEA and India arm raises $541 mn, expands investor base

Vertex Ventures Southeast Asia and India (VVSEAI) on Tuesday said it has raised USD 541 million (about Rs 4,489 crore) in a funding round. The VVSEAI Fund V exceeds its target fund of USD 450 million (about Rs 3,734 crore) and is 80 per cent larger than VVSEAI Fund IV raised in 2019, the company said in a statement. The new Fund V raise comes on the heels of cash-on-cash returns from VVSEAI's portfolio and successful exits from its investments in companies such as Grab, FirstCry, XPressBees, Recko, and others. The fund is backed by existing and new limited partners like Japan Investment Corporation (JIC), International Finance Corporation (IFC) and DEG (a German development finance institution), sovereign wealth funds, financial institutions, corporates and family offices across Asia and Europe. "Our earlier funds have had superior cash-on-cash returns and are outperforming benchmarks. This track record led most of our investors from VVSEAI Fund IV to return as investors in VVSEAI

China is no longer saving Southeast Asia's tourism industry. India might

China was once the world's most plentiful source of international tourists, and Southeast Asia was among their top destinations

Millions of Chinese curb Southeast Asian growth as they decide to stay home

The visitor statistics suggest that Southeast Asia's economic recovery this year will be muted, amid a dimming global growth outlook from tighter monetary policies

TikTok plans to fuel e-commerce business with billions in investment

TikTok is planning to pour billions of dollars in Southeast Asia over the next few years, aiming to drive growth in one of its biggest markets amid heightened scrutiny in the US. The company's CEO, Shou Zi Chew, made the announcement on Thursday during a speech at a TikTok forum in the Indonesian capital Jakarta. The investment comes as the app's e-commerce marketplace, TikTok Shop, is experiencing some growth following its expansion to more countries in the region last year. But its still trailing more established power players, like online shopping sites Shopee and Lazada. The popular video-sharing app, though, is attempting to harness the power of its user base. Chew said on Thursday that the app generates more than 325 million visitors in Southeast Asia each month. And the research group Insider Intelligence expects its user base in Indonesia, Malaysia, Thailand, Vietnam and the Philippines to increase by more than 10 per cent this year. TikTok did not provide a detailed break

BIMSTEC member nations brainstorm over food security, transport, tourism

Bridging the gap between South and Southeast Asia through strengthened transport linkages, cultivating climate-resilient crops like millet and fortifying people-to-people connections with dedicated tourist circuits were among proposals floated by member states at a two-day BIMSTEC meet here. The deliberations were taken note of in the Kolkata Declaration', which was adopted on Sunday evening on the concluding day of the meet, a top official of the regional organisation said. The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation or BIMSTEC, has Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar, and Thailand as member countries. The organisation can act as an enabler for the landlocked member states of Nepal and Bhutan to access the region's vast maritime networks. Bridging South and Southeast Asia through enhanced connectivity will open many avenues to facilitate a robust ecosystem for commerce, BIMSTEC Secretary General Tenzin Lekphell told PTI. The

Indian startups must tap $430 bn digital market in Southeast Asia: Report

The population of over 650 million and 70 million SMEs in Southeast Asia are rapidly becoming more affluent and digitally savvy, creating a high demand for innovative products and services

Sequoia's Surge unveils 8th cohort of 12 start-ups across India, SEA

Includes start-ups in climate tech, AI, metaverse, digital health, new e-commerce models

Dabur weighs acquisitions to expand across India, SE Asia amid competition

The expansion comes as Dabur faces intensifying competition from deep-pocketed rivals - including global consumer titan Unilever Plc - which are swooping in on upstart Indian brands

Asset quality of Indian banks will be stable in 2023, says Moody's

The asset quality of Indian banks and those in Southeast Asian countries will be stable in 2023, said Moody's Investors Service in its latest report on the banking sector in emerging markets

Southeast Asia withheld China's attempts to economically breach sovereignty

Southeast Asian countries have resiliently withheld China's attempts to economically breach their sovereignty and have harnessed the power of China's financial might to their own advantage

China plus one: Low labour costs and growing workforce give India the edge

A large and abundant workforce also gives it an edge against South East Asian rivals