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UOB secures more Asian investments for Vietnam as opportunities grow
By Celine Chen SINGAPORE, NNA - Singapore's UOB is accelerating efforts to help Asian companies seize opportunities in Vietnam after inking an expanded Memorandum of Understanding (MOU) with the country’s Foreign Investment Agency (FIA). Announced last Friday (Nov. 27), the agreement will see the global bank facilitating a new pipeline of more than $1.12 billion (SG$1.5 billion) in foreign direct investments (FDI) into Vietnam after having secured investments worth over $2.24 billion (SG$3 billion) for the country. It is their second MOU after the first was signed in 2015. The latest pact will...
NNA Business News
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Over $13 billion worth of commodities traded on CIC, to grow winning products with RCEP
By Celine ChenCommodities Intelligence Centre (CIC), a B2B e-trade platform for physical commodities, plans to groom one unique commodity from each member-country of the recently inked Regional Comprehensive Economic Partnership (RCEP) to be a global champion.Powered by blockchain technology and bolstered by supporting services like financing and logistics, CIC is a global trading platform for physical commodities such as ferrous and non-ferrous metals, chemicals and plastics, oil and petroleum, and agri-commodities.As it seeks to uncover new trading opportunities and promote global trade faci...
NNA Business News
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RCEP i prognozy gospodarcze do 2050 r.
Według prognoz Bloomberg Economics, przedstawiających potencjalny wzrost PKB w 39 państwach do 2050 r., Chiny już w 2035 r. wyprzedzą Stany Zjednoczone i będą największą gospodarką świata. Indie natomiast zostaną trzecią co do wielkości gospodarką świata przed 2033 r. Dobiega też końca okres stabilizacji na świecie, trwający od zakończenia II wojny światowej do początku XXI w. Ekonomiczny środek ciężkości przesuwa się z Zachodu na Wschód, od rozwiniętych gospodarek do rynków wschodzących, od wolnego rynku do rynku kontrolowanego przez państwo i od państw o ustroju demokratycznym do państw rząd...
Outriders
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Digital collaborations, RCEP free trade to help power ASEAN economy beyond pandemic
By Celine ChenSINGAPORE, NNA - The long-awaited launch of RCEP, the world's largest trade deal, is expected to spur trade and the digital economy even further in the Asia Pacific as its 15 members will collaborate in digitalization efforts to enhance cross-border connectivity, trade and integration.ASEAN, the 10-member bloc of Southeast Asian countries, signed the Regional Comprehensive Economic Partnership (RCEP) agreement together with China, the second biggest economy in the world, and the developed nations of Japan, South Korea, Australia and New Zealand on Sunday (Nov. 15) after eight yea...
NNA Business News
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COVID-19 accelerates digitalization, upskilling across Southeast Asia
By Celine ChenSINGAPORE, NNA - While many hawkers were late in embracing food delivery technology, Bren Tham of Rolina curry puff stall in Tanjong Pagar, had already signed up with GrabFood in 2019 before the coronavirus pandemic struck.Although his earnings plunged by 30-50 percent during the disease containment months of April and May in Singapore, the Grab delivery platform generated about 10-20 percent of sales, which helped prop up his business somewhat.The 45-year-old man, who normally sells about 200-300 curry puffs each day, said, "Most of my regulars are office workers, But many had t...
NNA Business News
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Sanrio, Avex tie up for character licensing business in S.E. Asia
SINGAPORE, NNA - Japanese companies Sanrio Co. and Avex Inc. have tied up to boost the licensing business of "Hello Kitty" and other Sanrio characters in Southeast Asia.The joint venture was set up in Singapore on Monday and it plans to launch the licensing business in January of Sanrio's existing and new characters in Singapore, Thailand, Vietnam, Indonesia, the Philippines, Malaysia, Cambodia, Laos, Myanmar and Brunei, the companies said in a news release Friday.Tokyo-based Sanrio has a 70 percent share in Sanrio South East Asia Pte. Ltd., the joint venture with a capital of US$2 million. Av...
NNA Business News
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Skechers launches 70 outlets in SE Asia, builds stronger online presence amid COVID crisis
By Celine ChenSINGAPORE, NNA - While many businesses were forced to downsize, cull jobs or even close shop for good because of the coronavirus crisis, America shoe chain Skechers' Singapore branch has been helping it expand with dozens of more new outlets and building a stronger digital presence in Southeast Asia.NNA speaks to Zann Lee, Skechers vice-president for the region, on how she tackles pandemic challenges head-on to grow the brand.Q: How did Skechers manage its business in Southeast Asia when China shut down earlier in the year to contain the coronavirus outbreak?A: When China impleme...
NNA Business News
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Rosier outlook for Asean e-commerce logistics with enhanced capabilities after COVID experience
By Charlotte ChongAs the coronavirus pandemic pushed e-commerce to the forefront of retail during movement shutdowns across the world, delivery companies had to grapple with rising mountains of parcels to be despatched to awaiting buyers confined to their homes.So, it wasn't a surprise when Parcel Monitor and e-commerce aggregator iPrice Group collated findings and saw a sharp jump of 34 percent in parcel volume handled in four Southeast Asian countries during the first six months of this year.This amounted to 1.4 million parcel shipments, or a third more than the same period in 2019, accordin...
NNA Business News
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Japan, U.S. support Singapore's future work centre that prepares Asean workforce for new opportunities
By Celine ChenHaving mooted the idea last year for a regional centre to help Southeast Asia prepare its people for the changing nature of work, Singapore finally launched it last month (Sep. 29) as the region emerged cautiously from the throes of the coronavirus pandemic.When Asean member-states gave their stamp of approval for the centre last year, their economies were still flourishing and attracting investments.But the world turned upside down when the COVID-19 contagion struck, forcing unprecedented country and travel shutdowns which resulted in the worst recession in decades for many coun...
NNA Business News
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Singapore to create more travel opportunities as it plans to remake economy for resilience
By Celine ChenSINGAPORE, NNA - Singapore will collaborate with safe countries or places to create exclusive air travel 'bubbles' for travelers who would not be required to abide by any itinerary restriction.The Southeast Asian city-state, which has significantly brought down the number of new daily cases of the COVID-19 virus to very low double-digits including only a handful local transmissions, will also negotiate with more countries to have reciprocal green-lane arrangements for official and business travelers.Green-lane travelers are tested before departure and on arrival to ensure they do...
NNA Business News