ASEAN and the world

(CPV) - The Asian Development Bank (ADB) has approved two policy-based loans totaling $400 million that support the Government of Uzbekistan’s initiatives to enhance the country’s financial markets and develop a sustainable, market-led power sector.

(CPV) - The Asian Development Bank (ADB) approved a $400 million concessional loan on July 26th 2024 to support the reconstruction of houses and community infrastructure in Pakistan’s Sindh province damaged by the devastating floods in 2022.

The Association of Southeast Asian Nations (ASEAN) recently dropped another hint that they might try to strike a trade pact with the Gulf Cooperation Council (GCC) as the former tries to boost its trade with partners outside the region.

Malaysia's economy is anticipated to have expanded at a faster pace in the second quarter than the first, government advance estimates showed on July 19, though some analysts expect momentum to slow down due higher inflation and weak domestic spending.

Three Indonesians and two Australian nationals survived after a tourist helicopter crashed on Indonesian island of Bali on July 19.

(CPV) - The Asian Development Bank (ADB) has slightly raised its economic growth forecast for developing Asia and the Pacific this year to 5.0% from a previous projection of 4.9%, as rising regional exports complement resilient domestic demand. The growth outlook for next year is maintained at 4.9%.

The cooperation between Japan and Vietnam is spotlighted in Japan’s new defense white paper 2024 released on July 12.

Indonesia’s government will include power wheeling in its renewable energy bill, which will allow private companies to sell electricity directly to consumer through transmission owned by state-run electricity company PLN.

Thailand’s National Health Security Office (NHSO) has approved an increase in funding for dependents from 6,000 THB (162 USD) to 10,442 THB per person per year.

(CPV) - Alternō, a promising climate tech start-up in Viet Nam, focused on pioneering sustainable solutions that significantly reduce carbon emissions in the agriculture, industry, and residential heating sectors​​, showcased their innovative solutions at the regional Youth Co:Lab Summit 2024, in the Philippines.

Malayan Banking Bhd (Maybank) plans to double its assets in Vietnam to 2 billion USD by 2027, becoming the leading foreign bank in terms of syndicated loans to capitalise on a booming economy, according to foreign media.

(CPV) - The Asian Development Bank (ADB) has approved a $200 million loan to promote inclusive, low-carbon, and environmentally sustainable development in Ningbo City, Zhejiang province in the People's Republic of China (PRC).

(CPV) - Bond yields in emerging East Asia increased amid strengthened expectations that interest rates will remain elevated for a longer period, according to a new report by the Asian Development Bank (ADB).

The Thailand Creative Content Agency (THACCA) will host the country's first soft power expo next week to showcase the economic potential of Thai soft power in driving Thailand to become a leading nation in the creative economy.

(CPV) - The Asian Development Bank (ADB) signed a $50 million commitment to Actis Asia Climate Transition Fund, an infrastructure fund managed by Actis, a global sustainable infrastructure investor, to help accelerate the clean energy transition and address development challenges arising from climate change impacts in Asia and the Pacific.

(CPV) - The Government of Canada and the Asian Development Bank (ADB) announced a partnership to create a new Can$360 million trust fund (about $255 million).

(CPV) - The Asian Development Bank (ADB) and Lien Viet Post Joint Stock Commercial Bank (LPBank) signed a financing package of up to $80 million to expand access to finance for a women-owned small and medium-sized enterprises (WSMEs) project in Viet Nam.

(CPV) - On June 12th 2024, Asian Development Bank (ADB) President Masatsugu Asakawa joined Cambodia’s Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth to inaugurate ADB’s new resident mission, following the recent launch of ADB’s latest country partnership strategy for Cambodia for the period 2024–2028.

(CPV) - The Asian Development Bank (ADB) has approved a $250 million policy-based loan to help the Government of Pakistan drive sustainable investments in infrastructure and services through public–private partnerships (PPPs).

Thailand, the world’s biggest durian exporter with a total export turnover of 7 billion USD, became Vietnam's second largest importer of this fruit in the first four months of 2024.

Member countries of the Association of Southeast Asian Nations (ASEAN) have pledged to comply with international and regional agreements and initiatives on biosafety and biosecurity.

The Malaysia Autoshow 2024 has concluded with original equipment manufacturer (OEM) reporting a total of 1.4 billion RM (about 294.4 million USD) potential sales, 2,620 bookings of vehicles, and 13,799 sales leads - marking a significant milestone for the automotive industry.

(CPV) - The Asian Development Bank (ADB) committed $2.6 billion in sovereign lending to India in 2023 for projects that aim to strengthen urban development, support industrial corridor development, promote power sector reforms, build India’s climate resilience, support horticulture, and enhance connectivity.

(CPV) - The Asian Development Bank (ADB) has launched a new country partnership strategy for Cambodia, spanning the period 2024–2028. The new strategy, closely aligned with the first phase of the national Pentagonal Strategy for the same period, aims to strengthen pathways for a sustainable, inclusive, and resilient economy in Cambodia.

Senator Francis Escudero was elected as the new President of the Philippine Senate on May 20, replacing Senator Juan Miguel Zubiri who has just announced his resignation.

A team of scientists from the National University of Singapore (NUS)’s Institute for Health Innovation and Technology has unveiled a novel approach to stimulate muscle cells’ natural defence against cancer using magnetic pulses.

(CPV) - The Asian Development Bank (ADB) and Rupshi Seed Crushing Limited, a member of the City Group, have signed a $10 million loan to construct a greenfield energy-efficient, multi-oilseed crushing plant within the City Economic Zone in the Narayanganj District, Bangladesh.

Lao authorities on May 16 announced that a Buddha statue with a height of at least two metres has been excavated from a sandy area near the Mekong River in the northern Lao province of Bokeo.

(CPV) - On May 14th 2024, the Asian Development Bank (ADB) priced a 2-year global benchmark United States (US) dollar bond worth $3.5 billion, proceeds of which will be part of ADB’s ordinary capital resources.

(CPV) - Africa Day, observed on May 25 yearly around the world is a momentous occasion to commemorate the founding of the Organization of African Unity (OAU), which was created on 25 May 1963 as the precursor of the African Union (AU).