The latest in ASEAN

  • Reuters

    Asian financial leaders agree to make 'all policy efforts' to fight pandemic

    Financial leaders from China, Japan, South Korea and Southeast Asia vowed on Friday to redouble their efforts to help the region recover economically from the novel coronavirus and to defend a multilateral system of trade and investment. "We will remain vigilant to the continued downside risks ... We are taking steps to reduce vulnerabilities to these risks and are determined to continue to use all available policy tools to support the sustained recovery," they said in a joint statement. "We will remain resolute in our commitment to uphold an open and rule-based multilateral trade and investment system, and strengthen regional integration and cooperation."

  • Associated Press

    US envoy accuses China of insincerity toward Southeast Asia

    A U.S. official accused China on Tuesday of bullying and insincerity in its dealings with Southeast Asian nations, but said Washington isn't forcing the region to choose sides between the two world powers. U.S. Assistant Secretary of State David Stilwell emphasized American resolve in maintaining its presence in the region and preventing “unwelcomed and certainly unhelpful military adventurism,” including in the disputed South China Sea. The comments in an online news conference were the latest display of the Trump administration’s tough rhetoric toward China.

  • Reuters

    Investors give once-loved 'darling' Southeast Asia a wide berth

    Southeast Asia is slipping to the bottom of global investors' shopping lists, and fund managers expect to stay away from the region as COVID-19 rages across Indonesia and the Philippines and wrecks the economies of Singapore and Thailand. "ASEAN used to be a darling of investors," said Binay Chandgothia, head of Asia at Principal Global Asset Allocation.

  • Reuters

    Pompeo tells Southeast Asia to stand up to China, shun its firms

    The United States' top diplomat on Thursday urged Southeast Asian countries to stand up to maritime bullying by China and to reassess business deals with its state firms, adding to heated exchanges between two powers jostling for influence. Speaking remotely to foreign ministers of the 10-member Association of South East Asian Nations (ASEAN), Secretary of State Mike Pompeo said the region should be confident in the United States and know it can bank on its support.

  • Reuters

    Standard Chartered to streamline business, cut senior roles

    Standard Chartered said on Thursday it would merge several of its businesses and reduce the number of top executives as the Asia and Africa-focused bank seeks to trim costs and create a leaner business. StanChart said it would merge its retail, private and business banking divisions together under the leadership of current ASEAN and South Asia CEO Judy Hsu; and it will bring together its two Asian units together under Greater China and North Asia head Ben Hung. Tracy Clarke, currently regional CEO of Europe & Americas, and head of the company's private bank, is to retire.

  • Associated Press

    US to ASEAN: Reconsider deals with blacklisted China firms

    U.S. Secretary of State Mike Pompeo asked Southeast Asian nations Thursday to reconsider deals with Chinese companies blacklisted by Washington for building island outposts he says Beijing is using to “bully" rival claimants in the disputed South China Sea. Pompeo spoke with counterparts from the Association of Southeast Asian Nations in an annual conference by video due to the coronavirus pandemic. Four of the members — the Philippines, Vietnam, Malaysia and Brunei — have been locked in the long-raging territorial conflict with China, along with Taiwan, over the busy waterway, which Beijing claims almost in its entirety.

  • Associated Press

    ASEAN talks tackle pandemic, sea feud amid US-China rivalry

    Southeast Asia’s top diplomats held their annual talks by video Wednesday to discuss the immense crisis wrought by the coronavirus pandemic and rising tensions in the South China Sea amid the escalating rivalry between Washington and Beijing. The Association of Southeast Asian Nations ministerial meetings, delayed by a month, were held online due to continuing health risks posed by COVID-19. The 10-nation bloc’s foreign ministers were to meet Asian and Western counterparts, including those from the U.S. and China, later in the week, capped by an annual security forum.