American foreign policymakers are turning the tide against the notion of multilateralism, pushing instead for a unilateral world where “Make America Great Again” (MAGA) will be more meaningful. In the path to MAGA, the rules of globalisation are getting torn apart, a heavy dose of protectionism is in place in the United States and everyone […]
Read MoreUnited Overseas Bank (UOB) has successfully completed ASEAN’s first cross-border peer-to-peer funds transfer proof-of-concept (POC) where real-time payment was made between bank accounts linked to the account-holders’ mobile phone numbers. The POC models the cross-border funds transfer experience on peer-to-peer funds transfer services that use a bank account-holder’s registered mobile phone number as a proxy […]
Read MoreEconomic growth in Asean is expected to slow to 5 per cent in 2019, after an estimated 5.3 per cent in 2018, according to the latest ICAEW report “Economic insight: South-east Asia”. This comes as the US-China trade conflict and the subsequent slowdown in China are expected to “weigh significantly” on Asean growth, in particular for export-dependent […]
Read MoreThe rumblings of a currency crisis in emerging markets is only getting louder. Argentina’s Central Bank raised interest rates to 40 per cent to protect its peso in May 2018. When this did little to help, Argentina took out a $50 billion credit line from the International Monetary Fund (IMF). Turkey stated in August 2018 that more […]
Read MoreMANILA, Philippines — Countries bordering on the seas of East Asia have issued a joint declaration reaffirming their commitment towards the conservation and sustainable development of coastal and marine resources in the region. Environment ministers and heads of delegation of Cambodia, China, Indonesia, Japan, Laos, North Korea, Singapore, South Korea, Timor-Leste, Vietnam and the Philippines […]
Read MoreTwelve economic issues, including the conclusion of negotiations on the Regional Comprehensive Economic Partnership, have been proposed for consideration as Thailand readies itself to assume Asean’s chairmanship. Thailand had announced “Advancing Partnership for Sustainability” as the theme for its chairmanship next year. Oramon Sapthaweetham, director-general of the Trade Negotiation Department, said 12 economic issues have been […]
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