Malaysia on Monday signed an agreement and institutional cooperation contract with Norway on 'Regulatory Framework for Aquaculture in Malaysia', to contribute to sustainable development of aquaculture in Malaysia. With the agreement, Norway will not only help Malaysia develop a regulatory framework for aquaculture farming, but will also provide experts and training for Department of Fisheries (DOF) staff in the field. The total funding for the project is on a cost-sharing basis, where Norway will provide RM3.253m in funding while Malaysia will contribute RM3.275m, starting 2012-15. (Bernama)
The US Federal Reserve began releasing quarterly financial results on Monday, in an effort to increase transparency at a time many Republicans are demanding more accountability from the central bank. (Reuters)
China’s industrial profits fell 2.7% yoy in the year-to-Jul (-2.2% in Jun). (Bloomberg)
China is likely to unveil long-awaited income distribution reform in Oct and is now seeking opinions from ministers and top leaders. The reform would cover 10 aspects, including minimum wages, the sharing of state firms' dividends, taxes of high-income earners, and the salaries of management team at state financial institutions. (Reuters)
South Korea said resuming negotiations with second-biggest trading partner Japan over a free trade agreement will be difficult given a maritime territorial spat. (Bloomberg)
Moody's Investors Service raised South Korea's sovereign credit rating by one notch to Aa3, on par with that of China and Japan, citing the country's strong fiscal fundamentals and resilience to external shocks amid growing concerns about Europe's financial crisis and a global slowdown. (WSJ)
The European Central Bank will stay within its mandate and intervene on the secondary debt markets only in conjunction with European Union rescue funds, board member Joerg Asmussen said. (AFP)
Germany and France agreed to drive ahead measures on closer European integration in a renewed show of unity by the region’s two biggest economies to fix the crisis in the euro zone. (Bloomberg)
Spain expects to use about €60bn, or US$75bn, of the €100bn of bank rescue financing offered by European finance ministers in Jun, according to the Spanish economy minister, Luis de Guindos. Spain could also make stronger fiscal commitments if the ECB eased its borrowing costs by buying its government bonds (NY Times)
According to the latest MasterCard Worldwide Index for Consumer Confidence. consumers in the Asia Pacific region remain most optimistic as concerns about slow growth lessen in the markets of India (82.1 Index points), mainland China (77.4), Viet Nam (77.2) and Thailand (75.8), while the least optimistic markets are Japan (23.6), Taiwan (25.7) and Australia (39.2).(Vietnam News)
Southeast Asian nations must redouble efforts to bridge development gaps which threaten the region's efforts to create an EU-style single market, Cambodia's prime minister Hun Sen said, adding that building an ASEAN economic community by 2015 is the “top priority.” (AFP)
India on Monday invited China to invest in its new flagship manufacturing zones as part of a push to broaden commercial links and cut a ballooning trade deficit with its Asian neighbour. (AFP)
Thailand’s Treasury Department is interested in buying land and other property in the troubled eurozone due to the attractive prices currently available there. (The Nation)
Thailand’s unemployment has been rising in the wake of the 2011 flood crisis and the sharp hike in the minimum daily wage this year, and joblessness could go higher too, according to National Economic and Social Development Board (NESDB) secretary-general Arkhom Termpittayapaisith. (The Nation)
Indonesia is targeting the absorption of the 2013 state budget to reach 40-50% in 1H13. (IFT)
Bank Indonesia has warned that accelerating lending growth may cause the economy to overheat. The bank will aim to curb high credit growth, which reached 25.8%, in the first half of 2012. (Antara News, Jakarta Globe)
The RBI said investment in new infrastructure projects fell 46% in the year through Mar, dropping from 3.9tr rupees (US$70bn) to 2.1tr rupees. (WSJ)
Vietnam’s exports rose 17.8% yoy in Aug (19% in Jul), while imports increased 6.7% yoy (7.3% in Jul). The trade balance sank to a deficit of US$150m after posting a surplus of US$579m in Jul. The market had been expecting the trade balance to be in equilibrium in Aug. (Bloomberg)
Vietnam’s agricultural, forestry and seafood exports in 8M12 rose 9.7% yoy to hit US$18.1bn, with the two largest markets being the US and Germany, the trade with whom rose by 12.5% and 12.4% respectively. (Vietnam News)
Vietnam’s retail sales in the year-to-date grew 17.9% yoy in Aug, down from 18.7% in Jul. (Bloomberg)
Vietnam's index of industrial production rose 4.4% yoy in Aug, slowing from an annual rise of 6.1% in Jul. (Reuters)
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