Southeast Asia Struggling With Exports Dip Amid Lower Demand From China

Southeast Asian countries are struggling with a decline in exports due to lower demand from China and there are concerns that the decline will continue in the coming months, Japan-based media company NHK World reported. According to a statement by the Thai Ministry of Commerce, exports in December 2022 dropped by 14.6 per cent year-on-year to approximately 21.7 billion dollars. It was the third straight month of decline. Exports to China fell by 20.8 per cent. Similar problems are being experienced by Singapore with non-oil exports contracting 20.6 per cent…

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Asia’s year in review: Who had it good — and who had it bad — in 2022

Police officers step into the vandalized gateway to Sri Lanka’s presidential palace in July. The country has been hit hard by an economic crisis. Abhishek Chinnappa | Getty Images News | Getty Images Curtis S. Chin, a former U.S. ambassador to the Asian Development Bank, is managing director of advisory firm RiverPeak Group. Jose B. Collazo is an analyst focusing on the Indo-Pacific region. Follow them on Twitter at @CurtisSChin and @JoseBCollazo. As the new year approaches, we turn again to our annual look at Asia’s winners and losers. Government…

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This couple travels the world full time. Here’s what it costs — and how they pay for it

Ernestas Tyminas felt “stuck” in his role as a marketing manager at a newspaper in Colorado Springs, Colorado. So he requested two months off to backpack through Asia, he said, landing in Beijing in January 2019. “On the first day … I meet this one,” he said, gesturing to Darina Karpitskaya, sitting by his side. The couple, speaking to CNBC via video from Dubai, said they met via the travel app Couchsurfing, which links solo travelers together. Karpitskaya, 31, and a flight attendant at the time, had been grounded in…

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Japanese shipping giant to take part in tidal power project planned for Singapore

Buildings in Singapore at dusk. Asia is already home to a number of tidal power projects. Guvendemir | E+ | Getty Images Japanese shipping giant Nippon Yusen Kaisha is to take part in a tidal power project planned for Singapore, as the emerging marine energy sector gains traction. The demonstration project, run by Singapore-owned Bluenergy Solutions, is focused on the development of off-grid tidal power systems. The hope is that they could one day replace diesel generators. The scheme will see three-bladed turbines — parts of which bear a resemblance…

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His company makes millions producing toys. Now it’s venturing into blockchain and the metaverse

When Jackson Aw was introduced to blockchain technology in 2018, he “didn’t get it at all.” “Can someone dumb it down even further for me? Like, can you just tell me what I can get as a consumer?”  That was four years ago. Today, Aw, seems to have the answer to that question.  The 32-year-old Singaporean, who runs Mighty Jaxx — a multi-million dollar toy company that produces collectibles and lifestyle products — has incorporated blockchain into his products.  A blockchain is a decentralized digital ledger that records every transaction…

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Tourists are flocking back to Southeast Asia — but the robust recovery is showing signs of cracks

After more than two years of lockdowns and border controls, Southeast Asia is finally experiencing some semblance of the old days of travel. Flights are steadily returning to 2019 levels in the region’s major economies, with Singapore, Thailand and Malaysia being the most popular destinations this year, according to the flight data analytics firm Cirium. In Singapore, which had the most inbound flight bookings in the region this year, bookings rose from around 30% of 2019 levels in January to 48% by mid-June. The Philippines also saw a sharp uptick…

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Southeast Asia’s start-ups have fired hundreds of workers, and this may be just the beginning

Southeast Asia’s tech companies are laying off workers as they brace themselves for a tougher fundraising environment. Guilliermo Perales Gonzalez | E+ | Getty Images Hundreds of workers from start-ups in Southeast Asia have been fired in the last few months, proving that the fast-growing industry is not immune to the global economic slowdown. At least six tech companies have let go of their staff, including Sea Limited, the owner of Singapore-based e-commerce site Shopee. Tech investors say this is just the beginning of more job cuts in the region’s…

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Sequoia Raises Record $2.85 Bn To Fund Indian Startups, Others Ventures

Venture capital firm Sequoia India and Southeast Asia has raised USD 2.85 billion – the highest ever in one tranche by any venture capital fund – to fund startups and other ventures in the region, the company said in a statement. Of the funds raised, USD 2 billion is dedicated to India across two funds, and the remaining USD 850 million funds is for Southeast Asia. As per the SEC filings and earlier fundraising announcements, this now takes Sequoia’s total committed capital in India and South East Asia to USD…

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Shares of Shopee-owner Sea surge 14% after stronger-than-expected revenue

Singapore, Singapore – 2021: A large Shopee logo at the entrance to the e-commerce platform’s headquarters at Science Park. (Exact photography date unknown due to incorrect camera settings) Kokkai | Istock Unreleased | Getty Images Shares of Southeast Asia’s e-commerce and gaming firm Sea Group popped after its first-quarter revenue beat analysts’ expectations on Tuesday. Sea’s U.S.-listed shares rose 14% to close at $80.21 after the of Singapore-based internet firm reported revenue that exceeded analysts’ expectations in the first quarter this year. Here’s how the New York Stock Exchange-listed company…

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Experts say future Covid waves unlikely to have serious impact in India; some call for easing mask mandate – ET HealthWorld

Amid a resurgence of COVID-19 cases in Southeast Asia and parts of Europe, experts in India feel that given the high vaccination coverage and immunity due to natural infection, any future waves are unlikely to have a major impact in the country. Some of them even said that the government should consider relaxing the mask mandate as the daily COVID-19 cases and deaths have remained low for a while. India on Sunday recorded 1,761 fresh COVID-19 cases, the lowest in around 688 days, and 127 deaths. The active cases also…

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