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- BusinessReuters
Shell to sell Singapore refinery, petchem assets to Chandra Asri and Glencore
SINGAPORE (Reuters) -Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore, Asia's main oil hub, to a joint venture between Indonesian chemicals firm Chandra Asri and Swiss miner and commodities trader Glencore. Reuters reported last August that Shell had hired Goldman Sachs to explore a potential sale of its refining and petrochemical plants in Singapore as part of a broader strategic review globally to become a lower-carbon operator.
- NewsReuters
US weighs upgrade for Vietnam to 'market economy' status
U.S. President Joe Biden's bid to draw Vietnam closer as a strategic ally will clash head-on with his desire for union workers' votes on Wednesday as the Commerce Department hears testimony on whether to designate Vietnam as a "market economy". The move, opposed by U.S. steelmakers and Gulf Coast shrimpers but backed by retailers and other business groups, would reduce the punitive anti-dumping duties set on Vietnamese imports because of its current status as a non-market economy with heavy sta
- NewsReuters
Cambodia says it will cut shipping through Vietnam by 70% with new China-funded Mekong canal
Cambodia plans to cut shipping through Vietnamese ports by 70% as a result of a $1.7 billion China-funded upgrade of a canal connecting the Mekong River basin to the Cambodian coast, the country's deputy prime minister told Reuters. Sun Chanthol downplayed environmental concerns about the Funan Techo canal slated to break ground later this year, and dismissed speculation that it could be used to allow upriver access for Chinese warships as "baseless". The project, to be completed by 2028, has
- BusinessReuters
Amazon to spend nearly $9 billion to expand cloud infra in Singapore
The investment adds to the S$11.5 billion the company has already invested in the Asia Pacific Region till 2023, bringing its total planned spend to more than S$23 billion by 2028, AWS said in a statement. Southeast Asia's top leaders are scrambling for a bigger slice of the global tech pie, with Malaysia, Vietnam and Singapore hosting Nvidia CEO Jensen Huang in December, and Apple CEO Tim Cook visiting Singapore, Vietnam and Indonesia last month.
- NewsReuters
Thai King approves ex-diplomat Maris as foreign minister
Retired diplomat Maris Sangiampongsa has been endorsed as the country's new foreign minister by Thailand's king, the official Royal Gazette said on Wednesday. Maris, 65, is a former Thai ambassador to Australia and Canada and was an adviser to predecessor Parnpree Bahiddha-Nukara, who unexpectedly resigned on Sunday after he lost his deputy prime minister position in a cabinet reshuffle. The appointment comes at a crucial time as Thailand steps up diplomatic efforts in managing the ongoing con
- BusinessReuters
Morning Bid: Yen slips anew with Amazon due, Treasury plans irk
World markets stalled on Tuesday as another heavy earnings week for megacap stocks cranked up, with renewed slippage in Japan's yen and U.S. Treasuries eyed closely in the background. Major macro market moves are likely in check for now as the Federal Reserve starts its latest two day policy meeting - with Wall Street also eyeing first quarter results from two more top ten world caps Amazon and Eli Lilly. News of a larger U.S. Treasury borrowing slate for the coming quarter than previously est
- BusinessAFP News
Microsoft CEO pledges $1.7 bn AI, cloud investment in Indonesia
Microsoft's chief executive officer pledged a $1.7 billion investment in artificial intelligence and cloud computing to help develop Indonesia's AI infrastructure after a meeting with the archipelago's president on Tuesday."The investment announced today will enable Microsoft to meet the growing demand for cloud computing services in Indonesia," it said.
- NewsAssociated Press
Indonesian and Singaporean leaders hold annual talks, joined this year by their successors
Singaporean Prime Minister Lee Hsien Loong and Indonesian President Joko Widodo on Monday celebrated the countries' continued cooperation at their seventh and final Leaders' Retreat in Jakarta, an annual meeting between the two Southeast Asian leaders that was also attended this year by their successors. Lee’s visit to Indonesia is one of his last working trips before he hands over the reins of his administration to a new leader. The eldest son of Singaporean founding father Lee Kuan Yew annou
- NewsReuters
Thailand urges bigger ASEAN role in resolving Myanmar conflict
Thailand called on Friday for the regional bloc ASEAN to take a more proactive role in trying to resolve the crisis in military-ruled Myanmar, after weeks of fighting near its border that halted trade and led to a brief influx of refugees. Myanmar is locked in a civil war between the military on one side and, on the other, a loose alliance of established ethnic minority armies and a resistance movement formed after the junta's bloody crackdown on dissent following its 2021 coup. The Associatio
- NewsReuters
ASEAN foreign ministers urge cessation of Myanmar border violence
"We urge all parties for an immediate cessation of violence and to exercise utmost restraint, to uphold international humanitarian law, and to take all the necessary measures to defuse tensions and to ensure the protection and safety of all civilians," they said in a statement from the Association of Southeast Asian Nations (ASEAN).
