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 Embarks on Major Infrastructure Projects in Eastern Visayas

The Philippines’ Department of Public Works and Highways (DPWH) Region VIII is looking to implement infrastructure projects worth PHP 43 billion (USD 0.8 billion) in Eastern ...

Philippines Ties Up with France to Improve Local Dairy Industry

A joint declaration to enhance cooperation in food security was signed between the government of the Philippines and France. The discussion puts emphasis on developing the ...

Philippine Air Force and Philippine Army Bolsters Acquisitions for Humanitarian and Defense Missions

The Philippines will have more assets for humanitarian assistance and disaster relief (HADR) missions as initial funding, valued at PHP 1.6 billion (USD 31.2 million), for ...

PEZA Eyes More Investments From the US

The Philippine Economic Zone Authority (PEZA) is engaging more US firms to invest in the country’s economic zones and take part in promoting stronger bilateral relations ...

New Law Eases Requirements for Foreign Retail Investors in the Philippines

A bill that amends the Retail Trade Liberalization Act (RTLA) of 2000 was signed by President Rodrigo Duterte into law. Known as RA 11595, the new law will lower the amount ...

New Essential Oil Manufacturing Facility Established in the Zambales Province

The Department of Trade and Industry's Board of Investment (BOI) has accredited a Philippine company called Iba Botanicals, Inc., a new essential oil producing company. The ...

Schneider Electric Teams Up with Nanyang Polytechnic on Green Technology Initiative

Last month, Nanyang Polytechnic (NYP) and Schneider Electric launched the Sustainability Experience Centre, a one-stop platform aimed at helping Singapore's SMEs implement ...

Lotte Chemical Indonesia to Construct USD 3.9 billion Petrochemical Plant in Banten

South Korea’s Lotte Group has resumed the construction of a USD 3.9 billion petrochemical project in Indonesia, paving the way for realizing the group’s plan to expand the ...

Foxconn to Develop a Sustainable New Energy Ecosystem in Indonesia

Hon Hai (Foxconn), a global leader in smart manufacturing, signed an MoU in January 2022 with the Indonesian Ministry of Investment, Indonesia Battery Corporation (IBC), ...

Indonesia’s Coffee Chain Reaches Unicorn Status with USD 96 Million Funding

Kopi Kenangan, an Indonesia-based coffee chain, has obtained USD 96 million Series C funding from Tybourne Capital Management, followed by Horizon Ventures, Kunlun, B Capital ...

Hyundai Motor to Produce the First Made-in-Singapore Electric Vehicles

During the Consumer Electronics Show (CES) 2022, Hyundai Motor announced its partnership with San Francisco's Unity Technologies, where both companies agreed to develop a ...

Home Improvement Brand Aims at Opening over 100 Stores a Year in Thailand

Home improvement brand MR D.I.Y. has announced its goal of opening at least 100 new stores a year, spurred by strong revenue over the past two years despite the Covid-19 ...

Good Doctor Technology Strengthens Ecosystem Partnerships in Thailand

Good Doctor Technology Thailand (GDTT), the subsidiary company of regional digital healthcare service provider Good Doctor Technology has recently announced its intention to ...

DOH to Build 7 New Laboratories for the Detection of Vaccine-Preventable Diseases

The Department of Health (DOH) is establishing seven subnational laboratories (SNLs) for the detection of vaccine-preventable diseases (VPDs) in the Philippines. The ...

CK Power to Add 2,800 MW of Renewables-based Electricity, Doubling in Size

In January 2022, Thai company CK Power, one of the region’s largest producers of renewables-based electricity, announced that it plans to more than double in size in the next ...

Ayala Property Management Corp Taps Globe Business for IoT Solutions

As the biggest property management company in the Philippines, Ayala Property Management Corporation (APMC) needed to transform its operations to digital to provide an ...

Thailand Buys Eight F-35, Plans to Buy Four More with a USD 414 Million Budget

Thailand is taking an active step to modernizing its air forces. In January 2022, it was reported that the Royal Thai Air Force (RTAF) intends to buy eight F-35 fighter jets ...

CP Foods Co-develops Plant-based Meat with American Start-up

Thai pork and poultry giant CP Foods partnered with Lypid, a start-up from the United States to create plant-based meat with the same taste and texture as real meat. CP Foods ...

Explore Our Services