Thailand’s manufacturing sector is facing a serious crisis with a total of 488 factories closing down in the first five months of this year, according to data with the Department of Industrial Works and KKP Research. The average closures at over 97 a month compare unfavourably with the average of 57 factories that shut down each month in 2021. The department data showed that from January 2022 to March 2023, a total of 1,704 factories ceased operations in the aftermath of Covid, an average of 113 closures a month. Overall, from 2021 to May 2024, it is estimated that more…
Author: Asia News Network
Japanese Prime Minister Fumio Kishida on June 15 called for global efforts to achieve “fair and lasting peace” in Ukraine, as one of the few Asian leaders in attendance at the peace summit in Switzerland. Despite Ukrainian President Volodymyr Zelensky’s plea for their leaders’ personal participation, most Asian countries were represented at the international gathering in Buergenstock not by their head of state or head of government, but by ministers, officials and other representatives. Mr Kishida and Timor-Leste Prime Minister Xanana Gusmao were the exceptions. “Many in Asia see the conflict in Ukraine as far away and not of key…
Three more individuals who were convicted and jailed over Singapore’s $3 billion money laundering case have been deported to Cambodia. On June 16, the Immigration and Checkpoints Authority (ICA) said in response to The Straits Times’ queries that Zhang Ruijin, Chen Qingyuan and Lin Baoying were deported on June 15. All three are barred from re-entering Singapore, ICA added. They were each sentenced to 15 months’ imprisonment between April and May after pleading guilty to various money laundering- and forgery-related charges. Zhang, 45, forfeited about $118 million of assets to the state, while his lover, Lin, 44 – the only…
Tech billionaire Elon Musk landed on Sunday in Bali where he aims to launch his Starlink service to extend internet access to remote areas of the country. Millions of people in Indonesia, a vast archipelago of more than 17,000 islands, are not currently hooked up to reliable internet services. Musk, making his first visit to the country, is scheduled to launch Starlink alongside President Joko “Jokowi” Widodo at a community health center (Puskesmas) in Bali’s capital of Denpasar on Sunday afternoon. Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan, who welcomed Musk at I Gusti Ngurah Rai International Airport, said…
The Lao economy is projected to grow at 4.7 percent over the first six months of this year, a slight drop from the same period last year amid ongoing challenges. Last year’s first-half growth was projected at 4.8 percent. The rebounding tourism industry and services with expanding production are making positive contributions to growth prospects, according to a report presented at the 8th Plenary Session of the 11th tenure Party Central Committee. Ending on Friday, the five-day meeting noted improved revenue collection, which boosts state spending capability. Chaired by Party Secretary General and President Thongloun Sisoulith, the quarterly meeting’s discussions…
Singapore Airlines (SIA) posted a record full-year net profit on May 15 and is proposing a higher dividend payout for shareholders and a fatter bonus for staff. Sources sent The Straits Times a screenshot of SIA chief executive Goh Choon Phong announcing the profit-sharing bonus of 7.94 months for staff, including its pilots. This compares with the bonus of 6.65 months that most employees received in 2023, with some getting an extra 1.5 months for their hard work during the Covid-19 pandemic, they said. SIA declined to comment on the matter. Earnings at the national carrier rose 24 per cent…
A four-hour meeting Monday between the top diplomats of South Korea and China has ignited new momentum in kickstarting strained high-level dialogue, essential for laying the groundwork to create a conducive environment for the resumption of long-stalled cooperation and exchanges at all levels. Experts noted that the development is especially significant as it sets the stage for a mood of cooperation and dialogue, paving the way for the upcoming long-awaited trilateral summit with Japan, the first since 2019, in late May in Seoul. However, experts simultaneously cautioned that the meeting also exposed inherent differences between Seoul and Beijing on North…
Russian President Vladimir Putin will pay a state visit to China from Thursday to Friday, the first foreign trip since he was sworn in for his fifth term as Russian president on May 7. During the upcoming visit, President Xi Jinping will exchange views with Putin on bilateral relations and cooperation in various fields as well as on international and regional issues of common interest in the context of the 75th anniversary of diplomatic ties between China and Russia, Foreign Ministry spokesman Wang Wenbin said on Tuesday. The Kremlin press service said in a statement on Tuesday that the two…
LG Electronics Chief Executive Officer Cho Joo-wan traveled to the US to meet with big tech counterparts and discuss collaboration in artificial intelligence, as well as to secure AI talents, the company said Sunday. Hosting a tech conference in Cupertino, California on Saturday, Cho underscored the importance of talents in AI development and said the company is willing to offer large salaries to secure top talents. “Changes such as electrification, servitization and digitalization are occurring in all industries, and new possibilities are being created with AI, cloud and big data technologies,” Cho said during the event, inviting some 50 tech…
The request of former Cambodian Prime Minister Hun Sen to allow a meeting with Daw Aung San Suu Kyi is currently not possible, according to Major General Zaw Min Tun, spokesman of the State Administration Council (SAC). He added the above while talking about the video conferencing meeting between Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing and Cambodia Senate President Hun Sen. “On his official page, there is nothing written about his request to meet with Daw Aung San Suu Kyi. However, according to our study, this request has appeared in the Phnom Penh…