AEC Feed

While the United States is bulking up trade protectionism under President Donald Trump, the World Bank has urged Indonesia to liberalise its trade in services, arguing the move would boost the country’s competitiveness.
In the March edition of its Indonesia Economic Quarterly, the bank highlights that trade in services is one of the most promising engines for growth because of its vibrant role in other sectors, and that it has more resiliency compared with trade in goods. The services sector, which accounts for around 45 per cent of Indonesia’s gross domestic product (GDP), has seen an annual growth rate of 6.8 per cent since 2001, faster than the industrial and agricultural sectors, government and World Bank data shows.
More than half of employed Indonesians, or 64.7 million workers, were employed in the services sector by early last year. —The Jakarta Post
 
Alipay deal for Malaysia
Malayan Banking (Maybank) and CIMB Bank – Malaysia’s largest financial services providers - are partnering with Ant Financial Services Group, which operates the world’s largest online and mobile payment platform Alipay, to enable the Alipay mobile wallet in Malaysia.
CIMB Group said it would act as the settlement and merchant acquirer bank, allowing Chinese visitors to pay for their transactions in yuan without concern about exchange rates. 
Launched in 2004, Alipay has more than 450 million active users.
 Maybank and CIMB said the service would go live in Malaysia in May.
CIMB Group chief executive Seri Zafrul Aziz said the entry of Alipay marked a notable milestone in the growth of mobile wallet payment services in Malaysia. 
Maybank group strategy officer Michael Foong said: “Maybank will now offer Alipay customers the added convenience and security of our comprehensive cashless payment channels.” —The Star

Vientiane adds buses
The Vientiane State Bus Enterprise in cooperation with the Japan International Cooperation Agency (JICA) and the Vientiane Traffic Police Department is making progress in modernising the capital's urban transport system.
A project supported by JICA, which is taking place in two phases, is being rolled out in the city from 2016-2019.
The number of people using buses has increased by 46 per cent compared to the years prior to project implementation. The Vientiane State Bus Enterprise has 42 buses (45-seaters) but this number is not sufficient to reach many areas of the city.
To remedy the situation the local government of Kyoto in Japan has stepped in to provide another 34 buses (also 45-seaters) which will soon be put into service. - Vientiane Times

Cathay Pacific cuts prices
Cathay Pacific is offering promotional economy-class fares for people heading from Thailand to Hong Kong. Fares start at Bt4,700.
The promotion also covers fares to Japan – including Tokyo, Osaka, Nagoya and Okinawa – that start from Bt11,700 and flights to Sapporo, Japan, from Bt15,500. Flights to Taiwan (Taipei, Kaohsiung and Taichung) start at Bt7,190 and South Korea (Seoul, Busan and Jeju) at Bt11,880.
The deals run until April 30 for travel until December 28.—The Nation