Latest Southeast Asia News
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China sweeps Indonesia to reach quarterfinals at Sudirman Cup
Defending champion China beat Indonesia 5-0 in their second and last group match on Tuesday at the 13th Sudirman Cup team badminton tournament.London Olympics champion Cai Yun/Fu Haifeng replaced their young fellows Liu Xiaolong/Qiu Zihan to play against Hendra Setiawan/Angga Pratama. The Indonesian pair took the first game 21- 16 but still failed to handle Cai and Fu. Though absent frommatches ...
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Tepid Thai growth deepens Asian slowdown fears
Thailand's economy grew more slowly than expected in the first three months of this year Adds to a slew of recent disappointing data from other Asian economies Thai economy contracted by 2.2 per cent seasonally adjusted from the previous quarter Result of faltering Chinese, eurozone, and US demand as well as a strong ...
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DBS Gets Indonesia Nod for Smaller Danamon Stake Than It Sought
Indonesia 's central bank to acquire a smaller stake in PT Bank Danamon Indonesia than it had sought more than a year ago. DBS, which in April 2012 proposed buying all of Danamon, will be allowed to buy 40 percent, Bank Indonesia Governor Darmin Nasution said in parliament today in Jakarta. DBS spokeswoman Edna Koh declined to immediately comment on the Singapore-based bank's ...
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China beat Indonesia to top group
(5 mins ago) Defending champions China trounced arch rivals Indonesia 5-0 to top Group A of the Sudirman Cup on Tuesday, declaring they are ready to face anyone in Thursday's quarter-finals. The Chinese have won the biennial tournament eight times and are chasing their fifth consecutive title, AFP reports. After Tuesday's matches, Chinese coach Li Yongbo said his team is ready to ...
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Volvo Philippines launches luxury 5-door 5-seater hatchback
The All-New Volvo V40, a modern expressive car, with characteristics from larger Volvos wrapped in a sleek, compact package, is now in the Philippines. This 5-door, 5-seater luxury hatchback combines trendsetting design with class-leading driving ...
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Oil production starts offshore Vietnam
Canadian company Talisman Energy said it expects to produce 15,000 barrels of oil per day from its newly launched development offshore Vietnam. Talisman said it started oil production at the offshore Hai Su Trang and Hai Su Den development ahead of schedule. Once the facilities are commissioned, the company expects gross production to reach 15,000 bpd. "We are delighted to have achieved ...
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Two women injured in Myanmar Airways aircraft accident
Two women were injured in an accident when a Myanmar Airways aircraft carrying 55 passengers was landing at the Monghsat Airport in Myanmar's eastern Shan state Thursday due to the malfunction of the breaking system, official sources ...
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UPDATE 1-Indonesia lets DBS buy 40 pct stake in Bank Danamon
Tue May 21, 2013 6:45am EDT (Adds detail) By Adriana Nina Kusuma JAKARTA May 21 (Reuters) - Indonesia's central bank approved a long-delayed bid by Singapore's DBS Group to buy up to 40 percent of PT Bank Danamon, governor Darmin Nasution said on Tuesday. The approval follows the central bank's earlier ruling that bidders can first take only a 40 percent stake in a local bank. They ...
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Seven Muslims Charged for Killing Buddhist Monk in Burma
A court in Burma has convicted seven Muslims for the killing of a Buddhist monk during deadly sectarian riots in a central town earlier this ...
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Wave of Violence Continues in Iraq
New attacks in three Iraqi cities have killed at least seven people and wounded more than 60 others. Officials say a suicide bombing followed by clashes between militants and Iraqi troops left three soldiers dead Tuesday in Tarmiyah, north of the capital, Baghdad. Farther north, two car bombs exploded in Tuz Khormato, killing three people, while car bombs in Kirkuk killed at least one ...
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Brits buy lease to Broadways biggest theater
Britain's biggest theater group has reached across the Atlantic Ocean and bought the lease to Broadway's largest theater from Live Nation Entertainment for about $60 million.Ambassador Theatre Group said Monday it has acquired rights to The Foxwoods Theatre, the 2,000-seat current home of "Spider-Man: Turn Off the Dark." The New 42nd Street, a nonprofit organization, approved ...
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Ma urges greater Taipei-Manila legal cooperation
ROC President Ma Ying-jeou meets Philip J. Crowley, former U.S. assistant secretary of state for public affairs, May 20 at the Presidential Office in Taipei City. ...
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22 ROC boats held by Philippines in past decade
China Times A total of 22 ROC-registered fishing boats and their crews have been detained by the Philippine government over the past 10 years, according to the Fisheries Agency under the Council of Agriculture May 20."Most of them were operating in the overlapping 200-nautical-mile exclusive economic zones of Taiwan and the Philippines, which is the main point of fishing disputes between ...
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Philippines boosts military to resist bullies amid China dispute
Philippine President Benigno Aquino III addresses the media shortly after leading the 115th Philippine Navy anniversary celebration at Fort San Felipe, Cavite city, south-west of Manila, Philippines on Tuesday, May 21, 2013. Mr Aquino on Tuesday announced a US$1.8 billion (S$2.26 billion) military upgrade to help defend his country's maritime territory against "bullies", amid an ...
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MCAs Tee Siew Kiong on leave from party after appointment as executive councillor
Malaysian Chinese Association (MCA) assemblyman Tee Siew Kiong is on leave from the party with immediate effect following his controversial appointment as a Johor executive councillor, said MCA president Chua Soi Lek. -- FILE PHOTO: THE STAR ...
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Asian Stocks End Mixed Ahead Of Fed Statement
Asian stocks turned in a mixed performance on Tuesday, with investor attention solely focused on Fed chairman Ben Bernanke's Congressional testimony to Congress and the release of the Fed's May minutes due this Wednesday for cues on the outlook for interest rates. The U.S. dollar edged higher after weakening against major currencies the day before following Moody's report warning ...
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SE Asia Stocks-Mixed ahead of Fed Thai realty up on low rate outlook
BANGKOK, May 21 (Reuters) - Thai stocks ended flat on Tuesday as property shares outperformed amid a low interest rate outlook, with sentiment broadly weak in line with Asia ahead of U.S. Federal Reserve head Ben Bernanke's testimony on Wednesday. Bangkok's SET index closed at 1,643.43, still hovering at its highest in 19 years and four months. The Thai property sub-index gained 0.2 ...
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Singapores First Home-Grown Influenza Vaccine In Phase 1 Clinical Trial
The vaccine based on Cytos' Virus-Like Particle technology may open the door to accelerated production of influenza vaccines in Singapore Singapore's Agency for Science, Technology and Research (A*STAR) and Switzerland's Cytos Biotechnology AG today announced that the first healthy volunteer has been dosed in a Phase 1 clinical trial with ...
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Philippines to acquire warfare equipment for Navy
Philippine President Benigno S. Aquino III disclosed Tuesday the warfare equipment to be purchased by his administration that will help boost the capability of the Navy.The country's second class cutter, the BRP Ramon Alcaraz, which came from the United States, is expected to arrive in Manila in August."We are planning to buy three multi-purpose attack craft, eight amphibious assault ...
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New Pakistan govt may consider importing electricity from India
ISLAMABAD: Pakistan's new government will seriously consider importing 1,000 MW of electricity from India as part of a short to medium-term strategy to end power outages, according to a media report today. ...
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India leads Asian cuts in Iran oil imports ahead of waiver review
Tue May 21, 2013 6:12am EDT * India cuts Iranian crude imports 17 pct Dec-April vs previous 6 months * China may reduce Iranian imports 5-10 percent in 2013 * U.S. due to review Asia's waiver extensions on Iran sanctions 3rd time By Nidhi Verma and Meeyoung Cho NEW DELHI/SEOUL, May 21 (Reuters) - India has slashed Iranian oil imports by almost a fifth since December, the sharpest cut among ...
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Indonesia c.bank says approves DBS bid for Bank Danamon
JAKARTA, May 21 (Reuters) - Indonesia's central bank has approved the bid by Singapore's DBS Group to buy up to 40 percent of PT Bank Danamon, governor Darmin Nasution said on Tuesday. "If they want more we want to see a realisation from MAS (the Monetary Authority of Singapore) regarding our need for reciprocity," the outgoing governor told reporters. The ...
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SAS Regional Director for Southeast Asia to lead Singapore market
SAS Singapore has appointed Sudipta Sen, regional director of Southeast Asia and chief executive officer of SAS Institute India, the leader for the Singapore market. Sen will succeed Bill Lee, former country manager of SAS Singapore, until a new country lead is appointed. The analytics company said this is a role expansion for Sen who will lead SAS' business in Singapore, adding to his ...
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Malaysia CIMBs Q1 net profit jumps 37.2 pct
KUALA LUMPUR | Tue May 21, 2013 6:05am EDT KUALA LUMPUR May 21 (Reuters) - CIMB Group Holdings Bhd , Southeast Asia's fifth largest lender by assets, posted a 37.2 percent jump in first-quarter net profits. Malaysia's second largest bank said in a filing to the stock exchange that net profit for the quarter ended March 31 stood at 1.39 billion ringgit ($461.18 million) compared ...
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Fitch Rates Sri Lankas Melsta Regal Finance A+Stable
Slow Progress on GAAP and IFRS Convergence; Optionality for Impairments Increases Significant differences will remain between the GAAP and IFRS accounting standards in 2013, although cooperation and progress continues on some remaining joint projects, according to Fitch Ratings. The pipeline of new standards promises increasing commonality between the two platforms over coming years. Progress ...
Sri Lankan Focus
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Sri Lanka sees major tourism industry investment
Sri Lanka’s tourism industry, especially the cruising scene, is getting back on its feet following the war, with significant interest being shown by major cruise lines wanting to schedule Sri Lankan ports on Indian Ocean Cruises, while the local yachting scene is seeing exciting growth and a local cruise industry may be emerging from infancy.
Sri Lanka, following the long and devastating civil war, which lasted around two and a half decades, is now making renewed attempts to redevelop its tourist industry. The industry is extremely import to the economy of Sri Lanka and is a vital part of the country’s access to foreign currency reserves, but saw marked declines in tourist arrivals during periods in which the ongoing civil war was perceived to be increasing in intensity and violence. Read more
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