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More cyber attacks, ransomware in 2018, says ESET report

December 15, 2017

SINGAPORE – A report released today by global cybersecurity specialist ESET suggests that cybersecurity incidents and risks will grow further in 2018, with an increasing pattern of sophistication. The report focusses on ransomware, attacks on critical infrastructure, malware, combating criminal activity, and cyber threats posed to electoral campaigns and data privacy.

Vietnam’s FDI hits new high, CPI calms inflation concerns in November

December 12, 2017

HO CHI MINH CITY – Foreign direct investment (FDI) into Vietnam continued to increase as registered FDI – newly-registered capital, additional funds, and share purchases - reached US$33.09 billion in November, a surge of 82.8% YoY. Disbursed FDI amounted to US$16 billion, up 11.9% YoY, Vietnam Assete Management (VAM) reports.

AIIB provides its first corporate loan to Beijing natural gas project

December 11, 2017

BEIJING - The China-initiated Asian Infrastructure Investment Bank has announced a US$250 million loan for a natural gas project in Beijing to support the ongoing process of coal-to-gas conversion and to improve air quality in the Chinese capital city and its neighbouring region.

Scheduled for completion in 2021, the project will help reduce China's coal use by about 650,000 metric tonnes annually by connecting about 216,750 households in 510 rural villages to the natural gas distribution network, the Beijing-based multilateral financial institution said in a statement.

E-commerce fastest-growing retail channel through 2022

December 7, 2017

CHICAGO - Global market research company Euromonitor International has released new retailing industry data highlighting the evolution and reinvention of international retail, ranking the top-three new retail concepts across grocery, non-grocery, non-store and digital channels. Internet retailing is the fastest- growing global channel through 2022 at 73% to become a larger channel than traditional grocery retail. Within internet retailing, the food and drink category is expected to see fastest growth at 80%.

Vietnam moving to tax cross-border service providers

December 1, 2017

HO CHI MINH CITY – Vietnam has released ois first draft submission for the amendment of tax laws which may significantly impact the operation of cross-border IT service providers who have users in Vietnam, according to the global law firm Baker McKenzie.

It a research report, BM says Vietnam’s Ministry of Finance has stated that e-commerce activities and transactions are growing rapidly in Vietnam, but the current tax administration regime is unable to manage this type of business adequately and accurately for the following reasons:

U.S. officially declines to recognise China as a market economy

December 1, 2017

WASHINGTON - The United States has announced that it will support the European Union at the WTO and decline to recognise China as a market economy. The announcement added that the U.S. will continue to adopt the "non-market country" approach in its anti-dumping investigations, further straining its trade relationship with China.

A China report in Caixin said the United States added that “the evidence is overwhelming that WTO members have not surrendered their longstanding rights … to reject prices or costs that are not determined under market economy conditions.”

Singapore GDP lifts, ANZ tips 4% growth in 2018

November 24, 2017

SINGAPORE - Singapore’s Q3 GDP growth has been revised higher from its initial advanced reading. Sequential growth was revised to 8.8% q/q SAAR (from 6.3%), taking y/y growth to 5.2% (from 4.6%). Because of this, the Ministry of Trade and Industry (MTI) has upgraded its GDP growth forecast to 3-3.5% for 2017 (from 2-3% previously). For 2018, MTI is forecasting GDP growth of 1.5-3.5%.