Asia Business News
Indonesia
The competition watchdog has fined Google Rp 202.5 billion (US$12.4 million) for engaging in monopolistic and unfair business practices related to its payment system services on Google Play Store, its software distribution platform.
Newly sworn-in US President Donald Trump’s chief diplomat Marco Rubio had a phone call with Indonesia’s Foreign Minister Sugiono for talks about the South China Sea, among others, on Thursday.
Cambodia
The Women’s Business Council of the Philippines visited Cambodia to expand business ties with their Cambodian counterpart. Women entrepreneurs from both countries are exploring opportunities in agriculture, handicrafts, education, health, tourism, and retail businesses.
Cambodia experienced brisk business with the three international airports handling a record high of 6.2 million passengers last year. Flight movements were 58,354, while air cargo transport reached nearly 80,000 tonnes last year.
Laos
Fifty-seven Japanese companies are operating in Laos Special Economic Zones, including 41 wholly-owned and 16 joint ventures with Lao partners. They have invested RM824 million (US$183 million) and Japan ranks 14th out of 53 foreign investors in Laos.
Japan will assist Laos in enhancing the teachers’ expertise to improve quality of education. Developing teachers’ classroom skills and training for in-service teachers will be part of the "Project for the Improvement of Provincial Teacher Development Centres", funded by Japan.
Myanmar
Myanmar’s Deputy Prime Minister and Foreign Affairs Minister U Than Swe attended the groundbreaking ceremony to construct a new embassy building in Bandar Seri Begawan, Brunei. During a meeting with his counterpart, trade, defence, health, and education matters were discussed.
Myanmar’s domestic tourism reached 10 million visitors last year while international tourist arrivals dipped. Local tourists visited popular spots in Yangon, Bago, Ayeyarwady, and Mandalay regions, Nay Pyi Taw, Shan, and Mon States.
Vietnam
Ho Chi Minh City received nearly RM2.2 billion (US$493 million) in remittances in the first 20 days of January. This is due to stable monetary market, flexible exchange rates, and user-friendly money transfer payment systems.
Experts predict the Vietnamese rice sector could face challenges in exports this year after healthy growth in 2024. The country’s rice exports are likely to decline in both volume and price due to weakening demand and rising competition among rice exporters.
Singapore
Singapore’s central bank tweaked its monetary policy stance to favour a more gradual appreciation of the Singapore dollar, saying it now expects core inflation in 2025 to be lower than projected.
The Monetary Authority of Singapore (MAS) has moved to loosen its monetary policy for the first time in nearly five years, amid expectations for slower growth and easing inflation in the year ahead.
Conclusion
The article highlights various business news and updates from Indonesia, Cambodia, Laos, Myanmar, Vietnam, and Singapore. From Google’s fine for monopolistic practices to the strengthening of diplomatic ties between Myanmar and Brunei, each country has its own unique story to tell. The article also touches on the economic zones attracting Japanese companies in Laos, the development of teachers’ teaching skills in Myanmar, and the loosening of monetary policy in Singapore.
FAQs
Q: What was Google fined for in Indonesia?
A: Google was fined Rp 202.5 billion (US$12.4 million) for engaging in monopolistic and unfair business practices related to its payment system services on Google Play Store, its software distribution platform.
Q: Who had a phone call with Indonesia’s Foreign Minister Sugiono?
A: Newly sworn-in US President Donald Trump’s chief diplomat Marco Rubio had a phone call with Indonesia’s Foreign Minister Sugiono for talks about the South China Sea, among others, on Thursday.
Q: What is the total investment of Japanese companies in Laos Special Economic Zones?
A: Fifty-seven Japanese companies are operating in Laos Special Economic Zones, including 41 wholly-owned and 16 joint ventures with Lao partners. They have invested RM824 million (US$183 million).