The Philippine-German joint venture Lufthansa Technik will invest 400 million US dollar to develop a major aircraft maintenance, repair and overhaul (MRO) facility at the Philippines’ Clark International Airport.
Author: Elisabeth Xaviera
Business and Economy Correspondent, SEA Daily
London to adopt “Singapore-style” housing model
London’s Mayor Sadiq Khan concluded his Singapore visit on June 16, having attended the World Cities Summit and secured investment planning for house-building.
US-Iran peace pact does little to resolve Southeast Asia’s economic uncertainty
The third official peace talks between the US and Iran on June 14 produced a 14-point memorandum of understanding (MoU), the details of which were released by White House officials on June 17 following its electronic signing by both respective presidents
ASEAN-Russia endorse Kazan Declaration to advance strategic partnership and maximise economic potential
On June 17, ASEAN member states and Russia commenced their commemorative summit to mark the 35th anniversary of ASEAN-Russian Federation relations, focusing on deepening security, economic and technological ties. The meeting was co-chaired by Philippine President and ASEAN Chair Ferdinand Marcos Jr. and Russian President Vladimir Putin.
Indonesian rupiah recovers as interest rate hike and US-Iran truce boost investor confidence
Following the announcement of the US-Iran peace agreement on June 15, a wave of confidence swept through the global market, including Southeast Asia’s largest economy, Indonesia. On the same day, the Indonesian rupiah saw an over-150-point appreciation, recovering from a historic low of 18,000 just a few days prior to trade at 17,700 rupiah per US dollar.
Malaysia’s Petronas secures 20-year deal to supply LNG to Japan
On June 10, Malaysia’s state-owned energy giant Petroliam Nasional (Petronas) signed a 20-year pact to supply 2 million metric tons of liquefied natural gas (LNG) annually starting 2028 to Japan’s largest power generator, JERA. The agreement was enacted during Malaysian Prime Minister Anwar Ibrahim’s working visit to Japan.
Philippines-Canada enhance defence ties to shield supply chains and bolster minerals trade
The Philippines and Canada have agreed to enhance their defence partnership as the groundwork for deeper cross-border commerce, paved by the ratification of a Mutual Logistics Support Arrangement (MLSA) on June 11 in Ottawa.
Swedish investors signal deepening commitment to Vietnam, with 50% planning expansion
Business Sweden, in collaboration with the Embassy of Sweden in Vietnam, released the 2026 Business Climate Survey on June 11. The report shows a positive business climate in Vietnam, with Swedish companies remaining engaged and optimistic regarding future investment opportunities. The publication brought to the fore growing key sectors, namely healthcare services, infrastructure as well as both green and digital transformation.
Germany-Vietnam Business Forum highlights circular economy growth
The 2026 Germany-Vietnam Business Forum commenced on June 11 in Ho Chi Minh City, Vietnam. Co-organised by the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) and the German Business Association (GBA), the bilateral meeting focused extensively on the theme “Circular Economy in Manufacturing”.
Indonesia expands barter trade to curb US dollar reliance
Speaking on June 9 after an exclusive coordination meeting on food commodity price developments, Trade Minister Budi Santoso informed reporters that the government is preparing a new barter mechanism that is expected to help ease the demand for greenbacks and preserve foreign exchange reserves, as trade will not be conducted using American currency.