Thailand's central bank independence in focus as former finance minister nominated as chair

SEOUL, November 13 (AJP) - Thailand's central bank selection committee on Monday nominated former Finance Minister Kittiratt Na-Ranong, a key figure in the ruling Pheu Thai Party, as the next board chairman, pending cabinet and royal approval. The nomination has sparked protests over central bank independence, with four former BOT governors and 830 economists issuing statements opposing the appointment, news reports said. They submitted a petition with 50,000 signatures on Monda

November 13, 2024

Myanmar's power supply falls to half of demand amid civil conflict

SEOUL, November 13 (AJP) - Myanmar's Ministry of Electric Power and Energy reported on Tuesday that the country's current electricity supply has dropped to about 50 percent of demand, with daily power generation at 2,800 MW against a required 5,500 MW, despite total facility capacity of 7,248 MW. The sharp decline in power generation stems from widespread transmission line destruction due to fighting between military and resistance forces, reduced natural gas supplies under

November 13, 2024

Viet Nam threatens to block Temu, Shein over registration deadline

SEOUL, November 12 (AJP) - Vietnamese authorities warned Chinese e-commerce platforms Temu and Shein they would be blocked if they fail to register their operations by the end of January, Deputy Industry and Trade Minister Nguyen Hoang Long said on Monday. "After our ministry's notification, if these platforms do not comply, we will coordinate with relevant agencies to implement technical measures such as blocking apps and domains," Long said in a statement. Under Viet

November 12, 2024

Philippines cuts corporate tax to 20% to boost investment

SEOUL, November 12 (AJP) - Philippine President Ferdinand Marcos Jr. signed an act Monday reducing corporate tax rates from 25 percent to 20 percent and extending tax incentives for strategic investments from 10 to 27 years. "We have taken a decisive step toward our vision of a globally competitive, investment-driven Philippine economy," Marcos said at the signing ceremony. "Through this law, we aim to attract both domestic and global investments in strategic industri

November 12, 2024

Ho Chi Minh City sinks 2-5cm annually, experts warn of flood risks

SEOUL, November 11 (AJP) - Ho Chi Minh City has been experiencing continuous ground subsidence since the 1990s, with some commercial districts sinking up to 7-8 centimeters annually, city officials said Sunday. A Japan International Cooperation Agency (JICA) study revealed Viet Nam's largest city's annual subsidence rate is approximately twice that of the surrounding sea level rise, with the southwestern districts of Binh Tan and Binh Chanh sinking 81.8cm and 48.8cm respect

November 11, 2024

Desperate mother builds prison cell at home to contain drug-addicted son in Thailand

SEOUL, November 11 (AJP) - A 64-year-old mother in Thailand's eastern Buriram province installed iron bars at home to confine her drug-addicted 42-year-old son, highlighting the country's worsening narcotics crisis, local media Khaosod reported on Sunday. "I have lived in constant fear for 20 years," the mother told authorities after being discovered. In a separate incident in Udon Thani province, a three-year-old boy was rescued while walking alone on a highway

November 11, 2024

Thailand expects investment boost from U.S.-China trade tensions under Trump

SEOUL, November 8 (AJP) - Thailand's Commerce Minister Pichaya Naripthaphan said on Thursday that Donald Trump's election victory could benefit the kingdom, predicting increased investments from both the United States and China as trade tensions escalate. "Trump's victory will help Thailand... The Republican Party is pro-business, and as the U.S.-China trade war continues, both countries will invest more in Thailand," Pichaya told Bloomberg in an interview, hig

November 8, 2024

Indonesian mountain erupts again, 16,000 residents face permanent relocation

SEOUL, November 8 (AJP) - Mount Lewotobi Laki-Laki in Indonesia's East Nusa Tenggara province erupted again on Thursday morning, shooting volcanic ash 5 kilometers high with volcanic lightning observed and lava flows extending up to 1 kilometer, the Center for Volcanology and Geological Hazard Mitigation (PVMBG) reported. The latest eruption, which occurred seven times during the morning, follows Thursday's deadly blast that killed nine people, injured 60 and damaged 2,000 h

November 8, 2024

Philippines says ASEAN NATO-style alliance impossible due to China-U.S. divide

SEOUL, November 07 (AJP) - Philippine Defense Secretary Gilbert Teodoro said on Wednesday that a NATO-style alliance in Southeast Asia is currently impossible due to ASEAN members' divided allegiances between the United States and China. "For example, we have defense alliances with the U.S. that predate ASEAN, and we continue to build alliances with like-minded nations," Teodoro said at a forum, noting that "other ASEAN countries have formed alliances with China.&

November 7, 2024

Indonesia, Singapore pledge new chapter in bilateral ties

SEOUL, November 7 (AJP) - Indonesian President Prabowo Subianto and Singapore Prime Minister Lawrence Wong agreed to strengthen cooperation during their first summit in Jakarta on Wednesday, focusing on cross-border energy sharing and carbon capture initiatives as key growth drivers. The newly elected leaders, with Prabowo taking office in October and Wong assuming his role in May, discussed opportunities in food security, defense, digital technology, healthcare and trade. A notable

November 7, 2024