Indonesia cuts interest rates for first time since February 2021

SEOUL, September 19 (AJP) - Bank Indonesia (BI) has reduced its benchmark interest rate from 6.25 percent to 6 percent, marking the first rate cut since February 2021. This decision, announced on Wednesday, surprised financial markets as most economists had predicted a rate hold ahead of the U.S. Federal Reserve's policy meeting. BI Governor Perry Warjiyo cited stable inflation within the target range, a strengthening rupiah, and the need to boost economic growth as reasons for

September 19, 2024

Thailand approves $5.8 billion cash handout to boost economy

SEOUL, September 18 (AJP) - The Thai government has approved a 145.6 billion baht ($5.8 billion) cash handout program for 14.5 million vulnerable citizens in an effort to stimulate the economy. Starting Sept. 25, low-income individuals with welfare cards and disabled persons will receive 10,000 baht ($400) directly into their bank accounts. This initiative is a scaled-down version of the Pheu Thai Party's election promise to distribute 10,000 baht to every Thai citizen. The orig

September 18, 2024

Viet Nam's GDP growth forecast slashed by 0.15 percent following Typhoon Yagi's $2 billion damage

SEOUL, September 17 (AJP) - Viet Nam's government has reported that Typhoon Yagi caused about 40 trillion dong ($2.1 billion) in damages, potentially reducing the country's GDP growth forecast by 0.15 percentage points this year. The super typhoon, which made landfall on Sept. 7, has claimed 281 lives and left 67 people missing in Viet Nam alone. The hardest-hit provinces, including Hai Phong, Quang Ninh, Thai Nguyen, and Lao Cai, could see their growth rates decline by more

September 17, 2024

Thai baby hippo 'Moo Deng' captures hearts across Asia, sparks tourism boom

SEOUL, September 16 (AJP) - A baby hippopotamus named Moo Deng, born in June at Thailand's Khao Kheow Open Zoo, has become an internet sensation across Asia, reminiscent of South Korea’s beloved panda Fu Bao. The calf's endearing appearance has led to a surge in visitors, with the zoo experiencing twice its usual attendance and implementing a five-minute viewing limit per person due to overwhelming crowds. The zoo has capitalized on Moo Deng's popularity, featuring

September 16, 2024

Southeast Asian markets surge as global investors anticipate Fed rate cut

SEOUL, September 13 (AJP) - Global investors are shifting their focus to Southeast Asian markets as the U.S. Federal Reserve's pivot on monetary policy approaches. Bloomberg reports that four of the top five performing Asian stock indices this month are from Southeast Asia, with Thailand leading the pack. Foreign capital has flowed into these markets for five consecutive weeks, pushing the MSCI ASEAN index near its highest level since April 2022. The index has outperformed the M

September 13, 2024

Typhoon Yagi death toll surpasses 270 in Southeast Asia

SEOUL, September 13 (AJP) - Super Typhoon Yagi's devastating impact on Southeast Asia continues to escalate, with the death toll now surpassing 270. Viet Nam, the hardest-hit country, has confirmed 226 fatalities, 104 missing, and around 800 injured. The storm's aftermath has left millions struggling with flooding, power outages, and widespread infrastructure damage. In Viet Nam alone, over 250,000 hectares of farmland have been affected, and UNICEF estimates that more than

September 13, 2024

Panagsama Beach in Philippines named Southeast Asia's best by Condé Nast Traveler

SEOUL, September 12 (AJP) - The Philippine Department of Tourism has announced that Panagsama Beach in Moalboal, Cebu, has been named the "Best Beach in Southeast Asia" by Condé Nast Traveler. The beach is renowned for its spectacular sardine run, a natural phenomenon that attracts visitors from around the world. Condé Nast Traveler cited the beach's unique marine ecosystem and natural environment as key factors in its selection. The publication stated th

September 12, 2024

Pope Francis arrives in Singapore, final leg of Asia-Pacific tour

SEOUL, September 12 (AJP) - Pope Francis landed in Singapore on Thursday, marking the final stop of his four-nation Asia and Oceania tour. It is the first papal visit to the city-state since Pope John Paul II's brief five-hour stopover in 1986. During his three-day stay, the pontiff's agenda includes meeting with Jesuit members, attending an official welcome ceremony at the Parliament House, and conversing with President Tharman Shanmugaratnam and Prime Minister Lawrence Won

September 12, 2024

Thai leader in hot water over Korean-inspired heart gesture

SEOUL, September 11 (AJP) - Thailand's new Prime Minister Paetongtarn Shinawatra has found herself at the center of a political storm after making a "finger heart" gesture during an official photo session on Saturday. The new prime minister, wearing her civil service dress uniform, crossed her thumbs and index fingers to form a heart shape - a popular gesture in K-pop culture. The incident has drawn criticism from Ruangkrai Leekitwattana, a serial petitioner known f

September 11, 2024

Typhoon Yagi death toll surpasses 150 in Viet Nam, Hanoi partially flooded

SEOUL, September 11 (AJP) - Typhoon Yagi has wreaked havoc across northern Viet Nam, leaving 87 dead and 70 missing. The storm, which made landfall on Sept. 7, has triggered severe flooding and landslides, leading to a surge in fatalities as heavy rains continue to batter the region for the third consecutive day. Hanoi, the capital city, faces significant challenges as the Red River's water level reached a 16-year high of 9.5 meters, with forecasts predicting a further rise to 1

September 11, 2024