Latest Southeast Asia News
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Bank Mandiri announces change to business plan
Bank Mandiri plans to change its 2013 business plan (RBB) to follow up the hike of the subsidized-fuel price rate."The change to the plan has not been submitted to Bank Indonesia yet because we are still waiting [for the fuel price hike announcement]," Bank Mandiri President Director Budi Gunadi Sadikin said as quoted by kontan.co.id on Wednesday.Budi said that the hike would surely ...
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IHSG back in the red
The Indonesian Composite Index (IHSG) plunged back into the red zone after a positive opening during the first trading session on Wednesday.Kontan.co.id reported the index dropped by 0.28 percent to 4,827.13 at 12 a.m.The transaction volume was 7.971 billion shares worth Rp 4.865 trillion.Seven sectors were in the negative zone and the main three were miscellaneous industry with 1.71 percent, ...
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PDI-P continues resistance against fuel price hike on the streets
Thousands of Indonesian Democratic Party of Struggle (PDI-P) members launch a long march to the State Palace in Jakarta to protest against the recent subsidized-fuel price hike.Kontan.co.id reported that the mass gathered at the Tugu Proklamasi at 7:30 a.m. on Wednesday and began their march at 10:30 a.m.PDI-P senior politician Ribka Tjiptaning said that the march was the last ditch of ...
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Philippines sends fresh troops to disputed shoal
MANILA (AP) - The Philippine defence secretary says his country sent fresh troops and supplies to a Philippine-occupied shoal in the disputed South China Sea where Chinese ships recently established a presence. Defence Secretary Voltaire Gazmin said on Wednesday that a small contingent of Filipino marines was sent to replace troops at the Second Thomas Shoal early this week. The Filipino ...
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ST team in Dumai brings you latest updates on the haze
A three-man team from The Straits Times is headed for the Indonesian coastal city of Dumai, Riau, where haze conditions have reached "critical" proportions. The ST team said they could smell smoke upon their arrival at the airport in Pekanbaru, Riau's capital city, early on Wednesday morning. Pekanbaru is about three to four hours by car from Dumai. -- PHOTO: JOYCE LIM ,THE ...
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Business Briefs June 19
* Vietnam Infrastructure Development and Finance Investment Joint Stock Company (VIDIFI) has withdrawn from a project to construct four main roads in Thu Thiem new urban area in HCM City’s District 2 to focus its resources on the Hanoi-Hai Phong expressway project, according to Trang Bao Son, deputy head of Thu Thiem Investment and Construction Authority. Dai Quang Minh Real Estate ...
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Indonesia remains upbeat on growth target despite planned fuel price hike
The Indonesian government remains confident that it can achieve its target of 6.3 percent growth this year despite the scheduled implementation of the unpopular fuel price hike.The oil price increase is designed to plug the budget deficit this year which could reach 2.4 percent from initial assumption of 1.6 percent.On Wednesday, the Indonesian Parliament approved the government's revised ...
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Cambodia unveils strategy to attract Chinese tourists
cto r of the Tourism Ministry's Marketing and Promotion Department, said that currently China is the third largest tourist arrival group to Cambodia. The country greeted 333,890 Chinese visitors in 2012, up 35 ...
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Five More Killed in Karachi Violence
Islamabad, June 19 (BNA) - Five more persons were killed in overnight firing and violence incidents in different parts of this mega-metropolis city, Pakistan's Geo News reported Wednesday morning. Police said that unknown persons opened fire on a vehicle killing van driver Imran at sector 5-C2 of North Karachi in the vicinity of Khawaja Ajmernagri police station. One person was shot ...
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Pakistan funeral bombs death toll rises
THE death toll from a suicide attack at a funeral in Pakistan has risen to 34 after seven victims died overnight in hospital, police ...
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Tension anger as Asian giants reach World Cup
South Korea defender Kim Chang-Soo (L) and Iran midfielder Masoud Shojaei during their World Cup qualifier on June 18, 2013. Iran booked their ticket with a 1-0 smash-and-grab win in Ulsan, following a tetchy build-up between the two ...
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Oil prices turn higher in Asian trade
With the Aadhaar unique identity number at its core, the scheme is heavily dependent on banks, which in turn are relying on technology firms to implement the ...
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Asian mkts tense before Fed meet Nikkei gains
European stocks were expected to open steady ahead of the conclusion of the Fed's June 18-19 meeting. A policy statement is due at 1800 GMT and Fed ...
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COLUMN-Thailands rice scheme cutback doesnt go far enough Clyde Russell
Wed Jun 19, 2013 2:46am EDT --Clyde Russell is a Reuters market analyst. The views expressed are his own.-- By Clyde Russell LAUNCESTON, Australia, June 19 (Reuters) - The Thai government has finally done something sensible with its rice intervention scheme by trimming the amount of money it pays farmers for their crops. But don't for a minute believe the massive problems the scheme has ...
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Pakistan’s new government delivers pro-business budget
Pakistan's newly-installed government of Nawaz Sharif's Pakistan Muslim League (PML-N) announced its first budget amid slow economic growth, a massive fiscal deficit and dangerously depleted foreign reserves. The government also faces declining foreign investment, a chronic power crisis and double digit inflation. The budget is a desperate attempt to encourage investment, while cutting ...
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Farmers still lighting fires despite worsening haze
KANDIS, INDONESIA - On a vacant dirt field, some 82km north of Pekanbaru where we landed hours earlier, some farmers are still lighting fresh fires despite the worsening haze conditions in the area. We stopped to talk to Mr Maliala Sembiring, who was burning oil palm fruit bunches to make fertilisers. Mr Maliala, who is in his 50s, told ST that the low yield on oil palm fruits was one reason ...
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Oil falls near $98 a barrel before Bernanke speaks
Benchmark oil for July delivery fell 13 cents to $98.31 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 67 cents to close at $98.44 a barrel on the Nymex on ...
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Pakistans Champions Trophy defeat prompts Whatmores exit
Islamabad, June 18 : Pakistan's defeat in the Champions Trophy has prompted calls from former players, media and fans to overhaul the system and ditch coach Dav Whatmore and under-performing ...
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Sino-Vietnam trade carries great potential
On invitation from President Xi Jinping, Vietnam's President Truong Tan Sang will kick off a three-day visit to China starting tomorrow. Analysts say, both China and Vietnam face similar risks and challenges at home and abroad and that both nations have great potential in boosting trade cooperation. China and Vietnam not only share a similar cultural background, but the two countries also ...
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Firms line up for Myanmar
/enpproperty--> As senior decision-makers from around the globe descended on Myanmar's capital of Naypyidaw for the World Economic Forum on East Asia recently, multinational companies were lining up to explore the huge commercial opportunities in the country. At Standard Chartered, we're seeing strong, and growing, interest in Myanmar from clients across the globe and across all ...
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Thailands controversial rice scheme to run until 2017
The Yingluck Shinawatra government has given in to heavy public criticism over the huge 130-billion-baht (US$4.22 billion) loss incurred through its controversial rice-pledging scheme, agreeing to reduce the minimal price from 15,000 baht to 12,000 baht per tonne. Payment for rice will be reduced from the end of this month - June 30 - till the end of the current crop season in late September, ...
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Experts predict conflicting policies over Asian trade pacts
/enpproperty--> Chinese President Xi Jinping's recent request that US President Barack Obama keep him updated on progress in talks over the Trans-Pacific Partnership was ambiguous - not necessarily a sign of China's willingness to join the huge proposed free-trade accord but not an expression of skepticism either. Since the two leaders met in California nearly two weeks ago, ...
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Tobacco enriches corrupts northern Philippines
This photo taken on May 2, 2013 shows children sorting tobacco leaves for curing at a farm in Currimao town, Ilocos norte province, northern Philippines. Tobacco enriches and corrupts in the dry, sun-drenched northern Philippines, where family fortunes as well as political empires are built on the golden leaf. AFP / TED ALJIBE CANDON CITY, Philippines--Tobacco enriches and corrupts in the dry, ...
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IHT Rendezvous Sending a Signal Philippines to Destroy Ivory Stock
Workers arrange some of five tons of confiscated ivory at the Ninoy Aquino Parks and Wildlife center in Quezon city. The tusks will be destroyed Friday to oppose the illegal wildlife trade, Philippines officials ...
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STOCKS NEWS SINGAPORE-Index down ST Engineering outperforms
Wed Jun 19, 2013 1:37am EDT Singapore shares drifted lower, snapping three consecutive sessions of gains, with investors waiting for more clarity on the U.S. Federal Reserve's next policy step. The Straits Times Index was down 0.3 percent at 3,218.41 points on Wednesday, almost in line with the fall in MSCI's broadest index of Asia-Pacific shares outside Japan . Hongkong Land Holdings ...
Myanmar Focus
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Foreign couple's novel approach to helping Burmese village
The political situation in Myanmar is well-known throughout the world, but often overshadows the circumstances of local people and our rich culture. A couple overseas have combined the two to create an unusual approach to helping the people of one village in the country.
Myanmar is one of the most politically and socially isolated countries in the world, much bad press is leveled at our country for decisions made and actions taken that the people are not responsible for and while attention focuses on the political dynamic of the country, the plight of many Burmese such as poverty, lack of access to water and education, become overshadowed. One family in the United States has taken a novel approach to giving back to a country that has stolen their hearts. Read more
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