Business News

Business News

News about trade, finance, investment trends and issues.

Philippine digital economy expected to grow to $10 billion by 2025

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The Philippine e-commerce industry is poised for exponential growth, with its share of the Southeast Asian market expected to be worth $10 billion by...
Indonesia’s Tokopedia raises $1.1 billion from Alibaba, Softbank

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Indonesia’s leading e-commerce portal Tokopedia said on December 12 it has raised $1.1 billion in funding from investors including Japanese tech holding SoftBank’s Vision...
Thailand lifts political campaign ban and sets election date for February 24

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Thailand's military government has said political parties are free to start campaigning ahead of a long-awaited election scheduled for 24 February, 2019. The announcement...
Three Southeast Asian cities among most visited in 2018

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Bangkok, Singapore and Kuala Lumpur made it once again into the top-ten list of most visited cities 2018 issued by business intelligence firm Euromonitor...
Cambodia seeks to double tourism arrivals by 2025

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Cambodian has ambitious plans to increase the number of tourism arrivals from six million in 2018 to 12 million by 2025 as it builds...
Reports says Thailand has worst wealth distribution globally

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Thailand has overtaken Russia and India as the most unequal country in the latest survey by Credit Suisse. Two years ago, Thailand ranked third...
AirAsia enters budget carrier market in Vietnam

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AirAsia Group, the largest low-cost carrier in Southeast Asia, said December 6 that it has agreed with a partner in Vietnam to launch a...
Vietnam’s Vingroup to launch its own smartphone brand

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Vingroup, Vietnam’ biggest listed firm by market value and a conglomerate with businesses that range from real estate to retail to tourism to automotive,...
Foxconn plans iPhone plant in Vietnam in response to US-China trade war

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Taiwanese electronics assembler Foxconn Technology Group is planning to open an iPhone manufacturing facility for Apple in Vietnam to mitigate the effects of the...
Malaysia government sets 20% annual growth target for e-commerce sector

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The Malaysian government has set an annual growth rate target of 20 per cent for the e-commerce sector in the country, from 14.3 per...
Vietnam to advise North Korea on economic development

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Vietnam is set to teach secluded North Korea lessons of how to open its economy during a visit of North Korea's foreign minister Ri...
Foreign direct investment into Malaysia increased 350% in past three quarters

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Malaysia’s foreign direct investments (FDI) volume increased to 49 billion ringgit ($11.72 billion) for the first nine months of this year compared with the...
Philippine fintech receives $215 million in country’s largest-ever startup funding

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One of the year’s largest fintech investments in Southeast Asia and the largest-ever in the Philippines has closed after Metro Manila-based Voyager Innovations announced...
Indonesia’s digital economy to become largest in ASEAN by 2025

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The annual “e-Conomy Southeast Asia” study conducted by Google and Singapore's state holding company Temasek found that Indonesia’s digital economy is poised to become the...
Works on Thai-Chinese high-speed rail to commence in 2019

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The Thai government will begin construction of the first phase of the remaining three sections of the Thai-Chinese high-speed rail between Bangkok and Nakhon...
Service robots to assist shoppers in Metro Manila mega mall

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In a country-wide's first, SM Megamall in Mandaluyong, the Philippines’ second-biggest shopping center behind SM City North EDSA, will deploy robots starting from next...
Thailand’s tourism hit hard as Chinese visitor numbers drop almost 20%

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Thailand's Ministry of Tourism and Sport has admitted that the number Chinese tourists to Thailand fell by 19.8 per cent in October compared to...
First hints on who could become next Singapore prime minister

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Singapore’s ruling People’s Action Party (PAP) will likely name finance minister Heng Swee Keat as its first assistant secretary general, media said on November...