ASEAN News

September 21, 2017

Vietnam leads ASEAN in infrastructure spending: CBRE

HANOI – Vietnam led the South East Asian countries in infrastructure spending, which was 5.7 per cent of the country’s gross domestic product (GDP), a recent report by property services firm CBRE revealed. The report titled ’Connecting Asean: Infrastructure, Integration and Real Estate Growth’ noted that the demand for infrastructure in Vietnam was intensified, given the large-scale urbanisation and the positive economic outlook. Citing statistics, the report […]

September 21, 2017

Philippines: AirAsia sets direct Vietnam flights

MANILA, Philippines — Low cost carrier AirAsia is set to launch flights from Manila to Ho Chi Minh in Vietnam in November as it seeks to promote greater connectivity within the ASEAN. “We are thrilled to announce that we will start servicing direct flights from Manila to Ho Chi Minh in November as part of […]

September 21, 2017

Philippines: Government debt payments more than double in July

MANILA, Philippines — The national government spent P99.66 billion in July to settle its debt, a sharp 136 percent increase from P42.08 billion in the same period last year, the Bureau of the Treasury (BTr) reported yesterday. This brought the national government’s debt service to P478.03 billion in the first seven months, down 13 percent […]

September 21, 2017

East Ventures Invests 30mn USD for Indonesian Startups

TEMPO.CO, Jakarta – East Ventures, a Southeast Asian venture capital company, announced an investment of 30 million USD for Indonesian startups. This is the sixth fund collected and managed by the three founders of East Ventures; Willson Weather, Batara Eto, and Taiga Matsuyama. A recent report by A.T.Kearney stated that investment in Indonesia is soaring due to strong macroeconomic […]

September 21, 2017

Indonesia: Jakarta 2017 Budget Up by 2.4 Percent

TEMPO.CO, Jakarta – The Jakarta Provincial Government proposed some changes to its 2017 regional budget. They proposed a 2.43-percent budget increase to Rp71.89 trillion from the previous figure Rp70.19 trillion. Jakarta Governor Djarot Saiful Hidayat said that in addition to increasing the budget and allocating funds for new activities, the amendment is also aimed to reduce the budget for unexecuted […]

September 21, 2017

Indonesia: Cigarette Tax Increase to Be Announced in Early October

TEMPO.CO, Jakarta – Heru Pambudi, director general of customs and excise at the Finance Ministry, said that the cigarette excise increase for 2018 will be announced in the next two or three weeks. “Since the decision is not yet final, I can’t reveal [the amount of the excise increase for next year], Heru said during a talk show held […]

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