Business News

Business news to help you keep track of the latest developments and identify new opportunities across key sectors in Southeast Asia

Monthly Business News to Help You Understand the Market

Philippines Unveils AI Strategy Roadmap 2.0 to Boost Economic Growth

Aug 2024 Philippines, Economy

The Department of Trade and Industry (DTI), with support from the Asian Development Bank (ADB), launched the National Artificial Intelligence Strategy Roadmap 2.0 (NAISR 2.0) ...

ExxonMobil Appoints Juliana Holdings as Official Distributor of Mobil Lubricants in the Philippines

Aug 2024 Philippines, Retail/FMCG

ExxonMobil Asia Pacific Pte. Ltd. has selected Juliana Holdings Inc. as the authorized distributor of Mobil-branded lubricants in the Philippines. With a strong background in ...

NEDA Approves USD 287.5 Million for Digital Infrastructure and National Broadband Program

Aug 2024 Philippines, Infrastructure

The National Economic Development Authority (NEDA) board has approved a USD 287.5 million allocation for the Philippines’ infrastructure flagship projects, including ...

Converge ICT Solutions Partners with U.S.-based Super Micro Computer for AI Integration in Data Centers

Aug 2024 Philippines, ICT

Converge ICT Solutions Inc. has announced a partnership with Super Micro Computer Inc. to integrate artificial intelligence (AI) into its three upcoming data centers in ...

U.S. Commits USD 500M to Modernize Philippine Military and Coast Guard

Aug 2024 Philippines, Defense/Aerospace

The U.S. and Philippine officials have unveiled new initiatives to strengthen defense and security cooperation. The U.S. will provide USD 500 million in foreign military ...

Israeli Agritech Firms Keen to Collaborate with the Philippines

Aug 2024 Philippines, Agrifood

Eleven Israeli companies are set to introduce and sell advanced agricultural technologies in the Philippines. The Israel Agricultural-Tech Roadshow in Makati City attracted ...

Bio Farma and Novo Nordisk Partner to Boost Diabetes Treatment in Indonesia

Aug 2024 Indonesia, Healthcare

Bio Farma and Novo Nordisk Indonesia have entered into a collaboration to develop local manufacturing processes for diabetes medications in Indonesia. This partnership aims ...

Indonesian Telco Indosat Unveils AI Tools to Enhance the Domestic Oil and Gas Industry

Aug 2024 Indonesia, ICT

Indosat Ooredoo Hutchison has introduced a set of AI-powered, cloud-based tools aimed at improving the upstream oil and gas sector in Indonesia. The tools, offered through ...

MCC to Launch USD 649 Million Infrastructure and Finance Compact in Indonesia

Aug 2024 Indonesia, Infrastructure

Millennium Challenge Corporation’s (MCC) CEO Alice Albright recently visited Indonesia to review the progress on the USD 649 million Indonesia Infrastructure and ...

Malaysia Targets Enhanced Aquaculture Production through Advanced Technology

Aug 2024 Malaysia, Agrifood

Malaysia is set to boost its aquaculture production to 40% of its total fisheries sector by 2030, aiming to meet the country’s growing fishery demands. The government, ...

Malaysian Army Orders Norwegian-Finnish Made M72 Anti-Tank Weapons

Aug 2024 Malaysia, Defense/Aerospace

The Malaysian Army has ordered 800 M72 LAW-EC (Lightweight Anti-Tank Weapons) from Nammo, a joint venture between Norway and Finland. This procurement is part of Malaysia’s ...

Malaysia Unveils Plan to Attract USD 63 Billion in Green Investments by 2030

Aug 2024 Malaysia, Economy

The Malaysian Investment, Trade and Industry Ministry (MITI) is set to develop a strategic plan to boost green investment and establish Malaysia as a leading regional green ...

Sarawak Petchem Opens USD 1.5 Billion Methanol Facility

Aug 2024 Malaysia, Energy

The inauguration of Sarawak Petchem Sdn Bhd’s USD 1.5 billion (MYR 7 billion) methanol complex represents a pivotal development for Malaysia, enhancing its status as a ...

Bursa Malaysia Launches Malaysia’s First Nature-Based Carbon Credit Auction

Aug 2024 Malaysia, Environment

Bursa Malaysia Bhd, the nation’s stock exchange, has launched Malaysia’s first nature-based carbon credit auction to expedite the development of domestic carbon ...

Malaysian Health Ministry Integrates Medical Technology, Targets 900 Clinics for Virtual Consultations

Aug 2024 Malaysia, Healthcare

The Malaysian Ministry of Health (MOH) plans to extend virtual consultation services to 900 health clinics nationwide by the end of the year. These services will cover ...

Malaysia Aims to Fortify 5G Infrastructure Against Cyber Threats

Aug 2024 Malaysia, ICT

Digital Nasional Berhad (DNB), the entity responsible for deploying Malaysia’s nationwide 5G infrastructure, has entered a strategic collaboration with CyberSecurity Malaysia ...

US’s Equinix Expands Data Center Footprint in Malaysia with USD 5 Million Investment

Aug 2024 Malaysia, Infrastructure

Equinix, Inc., a digital infrastructure company based in the United States, has announced a MYR 23 million (USD 5 million) investment to acquire land from Cyberview Sdn Bhd, ...

Belgian-based Melexis Launches Its World Largest Wafer Testing Site in Malaysia

Aug 2024 Malaysia, Manufacturing

Melexis, a Belgian microelectronics firm, has opened its largest wafer testing facility in Kuching, Sarawak, Malaysia, following a EUR 70 million (USD 77 million) investment. ...

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