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IN RECENT years, global attention has increasingly shifted towards South-east Asia, with many analysts acknowledging the Association of Southeast Asian Nations (Asean) as a rising force on the global stage. Often described as an underdog in geopolitics and economics, Asean’s emergence may seem understated, but its influence is growing rapidly. This bloc of 10 member states – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – has proven itself to be a critical player in shaping regional stability, economic growth and diplomatic dialogue. With a combined population of over 680 million and a collective gross domestic product exceeding US$3 trillion, Asean is positioning itself as a key actor in the global balance of power. One of the defining features of Asean’s emergence as a global player is its robust economic growth. The region has seen consistent GDP growth rates of around 5 per cent annually over the past two decades, outpacing many other parts of the world. Asean’s diverse economies, ranging from the highly developed financial hub of Singapore to the rapidly industrialising Vietnam and Indonesia, offer a mix of opportunities for investors and businesses alike. Foreign direct investment (FDI) into the region has surged, with Asean attracting more than US$174 billion in 2022 alone. Much of this growth is linked to Asean’s strategic location along vital global trade routes, as well as the region’s relatively low labour costs and improving infrastructure. Its economic policies, particularly efforts to reduce tariffs and streamline regulatory frameworks, have made it a magnet for businesses seeking to tap a young and growing consumer base. Furthermore, Asean’s youthful and growing population presents a significant market opportunity. With a median age of just 29.8 years, Asean’s demographic advantage contrasts sharply with the ageing populations of developed economies such as Japan and much of Europe. This young population fuels domestic demand for consumer goods, technology, and services, positioning Asean as an increasingly important consumption hub. The pathway for Asean to become an economic powerhouse is closely linked to its role in global supply chains. As companies seek to diversify their production bases, the region has emerged as an alternative hub for manufacturing and assembly, particularly in industries such as electronics, textiles, and automotive. The trend has accelerated with the “China-plus-one” strategy, where multinational firms aim to reduce their over-reliance on China by expanding production to nearby countries. Vietnam, for example, has become a major centre for electronics manufacturing, attracting investment from global giants such as Samsung and Apple. Indonesia and Malaysia, with their large domestic markets and resource-rich economies, have also seen a surge in manufacturing investments. Asean’s favourable demographics, competitive labour costs, and improving infrastructure have made it an ideal location for companies looking to ensure resilience and flexibility in their global supply chains. In addition to manufacturing, Asean’s strategic location along vital maritime routes, including the Straits of Malacca, has established it as a critical hub for global trade. Its connectivity between East Asia, South Asia, and beyond enhances its role as a vital conduit for goods and services. Major ports in Singapore, Malaysia and Thailand continue to expand their capacities to serve as key links in the global logistics network. One of Asean’s most promising growth drivers is its commitment to digital transformation. The region’s digital economy is expected to exceed US$300 billion by 2025, driven by increased Internet penetration, a growing middle class, and a young, tech-savvy population. E-commerce, fintech and digital services are booming across Asean, with platforms such as Grab, Gojek and Shopee leading the way in transforming how people shop, pay, and commute. Governments across the region are investing heavily in digital infrastructure, such as 5G networks and smart cities, to support this growth. These investments are aimed at ensuring that Asean remains competitive in the global digital economy and can attract more investment from technology companies. The digital transformation also extends to industries such as manufacturing, logistics, and finance. The adoption of technologies such as artificial intelligence, blockchain, and the Internet of Things is helping Asean companies streamline their operations and integrate more efficiently into global supply chains. This ongoing digital shift will likely propel Asean to the forefront of the Fourth Industrial Revolution, further solidifying its role as a global economic powerhouse. Asean markets vary greatly in size, growth prospects and industries. Thailand and Malaysia have ageing populations, while the Philippines and Indonesia have younger demographics. This diversity means different services are needed in each country. In the Philippines and Indonesia, trade modernisation is key, whereas Thailand focuses on services for an ageing population. Younger, lower GDP markets will see some premiumisation, where brand power and local competition are crucial. The question for active investors is how to best capture this diversity and structural tailwinds via the equity markets. Whereas the populations are large, the stock markets are relatively small both in terms of the number of listed companies and their liquidity. That said, the markets are rich in opportunities for stock pickers as there is a high dispersion of returns across and within countries. It pays to be selective. Typically, our favoured way of investing in these markets is via the banks which provide direct exposure to the economic and demographic trends outlined above. In contrast to many of their global peers, Asean banks, most notably in Indonesia and Philippines, are high return on equity, high growth companies. We also find opportunities in some of the more established, lower growth sectors such as telecoms and property, where a benign competitive landscape allied to a focus on free cash flow rather than capex has seen profitability inflect. In more mature markets such as Thailand, we see opportunities via industries such as healthcare and logistics which are well placed to capture medical tourism and FDI trends respectively. At an aggregate level we have a positive view on the region. Valuations are attractive relative to history and the US Federal Reserve’s rate cuts give central banks across the region the flexibility to cut rates to underpin economic growth rather than keep rates high to defend their currencies. Asean’s rise as an “emerging force” on the global stage is no longer a matter of speculation; it is a reality. With its economic dynamism, strategic location, and diplomatic agility, Asean has transformed itself from a regional bloc focused on peace and stability into a global player with growing influence. However, the road ahead is not without challenges. Political divisions, economic inequality and regional security concerns will test Asean’s unity and resilience. Yet, if the bloc continues to navigate these challenges as skilfully as it has in the past, it stands poised to be a central actor in shaping the future of global geopolitics and economics. Emerging markets are less established than developed markets and therefore involve higher risks. The writer is portfolio manager in the equity division and lead portfolio manager for the Asia ex-Japan equity strategy at T Rowe Price.Published 4:21 pm Sunday, November 24, 2024 By Staff Reports There are eight games featuring a ranked team on Monday’s college basketball schedule. Watch women’s college basketball, other live sports and more on Fubo. What is Fubo? Fubo is a streaming service that gives you access to your favorite live sports and shows on demand. Use our link to sign up for a free trial. Catch tons of live women’s college basketball , plus original programming, with ESPN+ or the Disney Bundle.
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NEW YORK -- A ransomware attack that hit a major software provider last week caused disruptions for a handful of companies over recent days, from Starbucks to U.K. grocery giant Morrisons. Blue Yonder, which provides supply chain technology to a range of brands worldwide, said that it experienced disruptions to services it manages for customers on Thursday, which the third-party software supplier determined to be "the result of a ransomware incident.” Some systems went offline, impacting clients using Blue Yonder's software. A spokesperson for Starbucks, for example, said that the chain's ability to manage barista schedules and track hours was disrupted — meaning store leaders across North America are currently being instructed to use manual workarounds. Starbucks maintained that the outage is not impacting how customers are served and that ensuring workers get paid for all hours worked is a top priority. While the company continues to work towards full recovery, the spokesperson added that Starbucks was able to process payroll again as of Tuesday morning. Two of the U.K.'s biggest grocers, Morrisons and Sainsbury's, were also affected — with both telling CNN over the weekend that they had turned to contingency plans to keep operations flowing. A spokesperson for Morrisons confirmed to The Associated Press that the outage “impacted our warehouse management systems for fresh and produce” and that it was continuing to operate on back up systems Tuesday. Sainsbury's, meanwhile, said Tuesday that its service was restored. Blue Yonder declined to disclose how many of its customers were impacted by the hack. In a statement sent to the AP, a spokesperson maintained that it had notified “relevant customers” and would continue to communicate as needed. The spokesperson also maintained that recovery efforts were still underway — noting that Blue Yonder "has been working diligently together with external cybersecurity firms to make progress,” including the implementation of several defensive and forensic protocols. Blue Yonder's website touts an extensive global roster of customers — including Gap, Ford and Walgreens. Walgreens and Gap were not impacted following the ransomware attack, spokespeople for the companies said. Ford shared that it was investigating whether the incident affected its operations earlier this week, but had no further updates when reached Tuesday. Blue Yonder, based in Arizona, is a subsidiary of Japan’s Panasonic Corp. Panasonic acquired the supply chain software firm in September 2021.
Sharks take on the Sabres after Wennberg's 2-goal gameShare this Story : First-degree murder: Nikolas Ibey found guilty in 2022 death of Savanna Pikuyak Copy Link Email X Reddit Pinterest LinkedIn Tumblr Breadcrumb Trail Links News Local News First-degree murder: Nikolas Ibey found guilty in 2022 death of Savanna Pikuyak Ibey had already admitted to killing Pikuyak and had pleaded guilty to second-degree murder at the outset of his trial on Nov. 12, but that plea was rejected by the Crown. Get the latest from Aedan Helmer straight to your inbox Sign Up Author of the article: Aedan Helmer Published Dec 03, 2024 • Last updated 1 hour ago • 3 minute read Join the conversation You can save this article by registering for free here . Or sign-in if you have an account. Savanna Pikuyak had recently rented an apartment from Nikolas Ibey before he killed her. SUPPLIED Article content Jurors needed only three hours of deliberations on Tuesday before finding Nikolas Ibey guilty of first-degree murder in the Sept. 11, 2022, killing of Savanna Pikuyak. Article content Article content Ibey, 35, had already admitted to killing Pikuyak and had pleaded guilty to second-degree murder at the outset of his trial on Nov. 12, but that plea was rejected by the Crown. Pikuyak, a 22-year-old nursing student, had recently rented a room from Ibey at the townhouse at 34 Woodvale Green after moving from her home in Sanirajak, Nunavut, to pursue her studies at Algonquin College when she was murdered. Advertisement 2 Story continues below This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles from Elizabeth Payne, David Pugliese, Andrew Duffy, Bruce Deachman and others. Plus, food reviews and event listings in the weekly newsletter, Ottawa, Out of Office. Unlimited online access to Ottawa Citizen and 15 news sites with one account. Ottawa Citizen ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles from Elizabeth Payne, David Pugliese, Andrew Duffy, Bruce Deachman and others. Plus, food reviews and event listings in the weekly newsletter, Ottawa, Out of Office. Unlimited online access to Ottawa Citizen and 15 news sites with one account. Ottawa Citizen ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Sign In or Create an Account Email Address Continue or View more offers If you are a Home delivery print subscriber, online access is included in your subscription. Activate your Online Access Now Article content Pikuyak’s family members were expected to deliver victim-impact statements in court following the verdict. Another statement was to be read on behalf of her community in Nunavut. Crown prosecutors Michael Purcell and Sonia Beauchamp told the jury there was “ample” evidence that Ibey sexually assaulted Pikuyak before killing her, a factor that “elevates” the crime to first-degree murder. Ibey’s defence lawyer, Ewan Lyttle, said Pikuyak’s murder was “awful, tragic and heartbreaking.” He acknowledged that his client was guilty of murder, but denied Ibey had committed a sexual assault. During closing arguments to the jury on Monday, the prosecution countered by showing the jury graphic crime scene photos of Pikuyak’s half-naked, beaten body after she was found lying face-down on a mattress. “The pictures tell all,” Beauchamp told the jury, as she outlined the evidence pointing to an “undeniable” sexual assault. There were drops of blood on the carpet at the entrance to Pikuyak’s bedroom, where, according to the Crown, Ibey attacked Pikuyak with a piece of wood that was later found spattered with the victim’s blood. Evening Update The Ottawa Citizen’s best journalism, delivered directly to your inbox by 7 p.m. on weekdays. There was an error, please provide a valid email address. Sign Up By signing up you consent to receive the above newsletter from Postmedia Network Inc. Thanks for signing up! A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Evening Update will soon be in your inbox. We encountered an issue signing you up. Please try again Article content Advertisement 3 Story continues below This advertisement has not loaded yet, but your article continues below. Article content There were pools of blood on the carpet showing “the attack continued while she lay there” as Ibey forcibly confined her, Beauchamp said. Ibey struck Pikuyak in the arms, face and head “over and over again” with the piece of wood Beauchamp said, and Pikuyak had defensive injuries as she tried to fight back. Nikolas Ibey was convicted of first-degree murder in the 2022 killing of Savanna Pikuyak by a jury on Tuesday, Dec. 3, 2024. Photo by Facebook Prosecutors pointed to the positioning of the victim’s body, lying face-down, legs spread apart and naked from the waist down, her underwear and pants around her ankles. Her shirt and bra were lifted up over her chest and twisted together. She was gagged and strangled with a knotted sweater. “She died suffocated and strangled,” Beauchamp said, and there is “ample evidence” of both forcible confinement and sexual assault. No male DNA was found in a post-mortem examination of the victim’s genitals, but Ibey’s DNA was found on Pikuyak’s left and right breast. “When you use common sense, and when you look at the pictures, the only reasonable conclusion is that there was a sexual assault,” Beauchamp said. “It is clear that (Ibey) entered that room with one purpose in mind, the same purpose he had been chasing all night.” Advertisement 4 Story continues below This advertisement has not loaded yet, but your article continues below. Article content Ibey sexually assaulted and strangled Pikuyak after he was left sexually frustrated by an hours-long search for a sex worker earlier in the night. The Crown presented a volume of text messages, sex chats and internet searches for “escorts” that began around 7 p.m. the night before the killing and ended around 3 a.m. on Sept. 11. Ibey beat, confined and sexually assaulted Pikuyak, prosecutors said, before he strangled her to death between 3 and 9 a.m. “There is no reason, other than a sexual assault, to beat her, confine her, bind her, gag her, lift up her shirt and take off her pants,” Beauchamp said. The act of removing Pikuyak’s clothing was enough to constitute a sexual assault, even if the attack went no further, prosecutors said. “This was a sexual killing,” she told the jury. “This was, and is first-degree murder.” More to come... Our website is your destination for up-to-the-minute news, so make sure to bookmark our homepage and sign up for our newsletters so we can keep you informed. Recommended from Editorial Nikolas Ibey trial hinges on one question — was it first-degree murder? Nikolas Ibey viewed dozens of victim's Facebook photos before killing her Article content Share this article in your social network Share this Story : First-degree murder: Nikolas Ibey found guilty in 2022 death of Savanna Pikuyak Copy Link Email X Reddit Pinterest LinkedIn Tumblr Comments You must be logged in to join the discussion or read more comments. Create an Account Sign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Trending City of Ottawa worker fired after audit uncovers kickback scheme with landlords Local News Layoffs could be on the table for public servants. 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Claremorris Golf Club draining quickly after Storm Bert floodingPresident-elect Donald Trump weighed in on a simmering feud among MAGA allies over H-1B worker visas, telling the New York Post that he supports the program, according to the outlet. Trump told the New York Post that he has “always liked the visas.” The H-1B visa program allows employers to temporarily hire non-U.S. citizens for highly skilled jobs. > Watch NBC Bay Area News 📺 Streaming free 24/7 “I have many H-1B visas on my properties. I’ve been a believer in H-1B. I have used it many times. It’s a great program,” he said, according to the outlet’s report. A spokesperson for the Trump transition team did not immediately respond to a request for comment. During his first term, the Trump administration implemented rules that would have cut the number of H-1B visas issued each year. The rules, however, were ultimately struck down in court. In recent days, MAGA world has been embroiled in a debate over the program, with one faction defending the visas and another faction arguing that the program allows foreigners to take American jobs. Trump allies, including Elon Musk and Vivek Ramaswamy, argued in online posts that the visa program benefits the country. The latest news on Donald Trump's presidency Musk said in a post this week that “the number of people who are super talented engineers AND super motivated in the USA is far too low.” Musk, who was born in South Africa and is a naturalized U.S. citizen, said that the reason he and others who built SpaceX and Tesla are in the U.S. is because of the H-1B program. “Take a big step back and F--- YOURSELF in the face,” he said in a post . “I will go to war on this issue the likes of which you cannot possibly comprehend.” Musk said in a post to X that “those contemptible fools must be removed from the Republican Party,” later clarifying that he was referring to “those in the Republican Party who are hateful, unrepentant racists.” Musk’s posts came in reply to a post from Scott Adams, the creator of the “Dilbert” comic, who said “MAGA is taking a page from Democrats on how to lose elections while feeling good about themselves.” Separately, Ramaswamy, who is partnering with Musk to lead Trump’s nongovernmental Department of Government Efficiency, argued in a post to X that he hopes American culture again prioritizes “hard work over laziness.” Ramaswamy also said in a post to X on Friday that the H-1B visa program “is badly broken & should be replaced with one that focuses on selecting the very best of the best (not a lottery), pro-competitive (no indentured service to one company), and de-bureaucratized.” Republicans who criticized H-1B visas included far-right activists Laura Loomer and Steve Bannon. Former South Carolina Gov. Nikki Haley also weighed in, calling it “lazy” for the “tech industry to automatically go to foreign workers for their needs.” “Invest in our American workforce,” she said in a post to X on Friday. “We must invest in Americans first before looking elsewhere.” Musk also faced accusations of censoring critics after more than a dozen conservatives, including Loomer, said their blue badge verification on X had been revoked after they criticized Musk over his views on immigration. This story first appeared on NBCNews.com. More from NBC News:
The Planning & Zoning Committee for the city of Bryan will consider a rezoning request Thursday that would allow a developer to build a nearly 30-acre low-density neighborhood. Property owner, Shian Cao of Cao’s Home, LLC, is hoping to rezone 29.7 acres of land between Pinemont View Drive and Mountain Wind Loop in Bryan from Agricultural to Planned Development-Housing District. The new subdivision is expected to become a low-density residential neighborhood, if approved, and is one half of a larger 60-acre master plan to develop the Gourd Creek Subdivision. Currently, the land is vacant acreage. The entire master-planned property was annexed into the city during three separate annexations approved by the Bryan City Council in 2023. In September, homeowners in the adjacent subdivision, Dominion Oaks, raised concerns about the development destroying vegetation and damaging drainage basins. “In response to these concerns, the developer proposes a natural conservation buffer along the existing creek to mitigate potential adverse effects. This buffer is included in the development plan,” city staff wrote in the proposal. Low-density residential neighborhoods are currently the predominant land use within Bryan, according to the city. Typically, these neighborhoods range between three and five housing units per acre, includes housing and living units for a variety of income levels and are protected from major roadways, commercial establishments and industrial areas. “Staff contends that a new low-density residential subdivision at this location will continue to establish an orderly zoning pattern,” city staff wrote in the proposal. “Properties in the general vicinity of the subject property are currently developed in a predominantly low-density residential fashion. The proposed residential development on the subject property is consistent with the recommendations made in the city’s Comprehensive Plan.” Property to the north of the Gourd Creek Subdivision is still zoned agricultural and remains undeveloped. If the rezoning is approved, city staff also believe that similar development on the subject property could increase development interest due to “street connectivity improvements” in the neighborhood. Staff also believe residential development in the area to be occurring at an above average rate. McClure & Browne Engineering/Surveying, Inc., the developers of the project, outlined multiple phases for development of the Gourd Creek Subdivision. Phases 3 and 4 will be detached residential subdivisions with a minimum 6,000 square feet in area, minimum 50-foot lot widths and specific requirements for architecture and landscaping. Some requirements for this redevelopment include each dwelling having at least one attached two-car garage, sidewalks along both sides of the street and a screening fence to maintain the border between the new district and the adjacent Dominion Oaks Subdivision. Buildings with metal exteriors would be prohibited and all local streets would have 50 feet of right-of-way with 30 feet of street pavement. The proposed development also includes a HOA that is responsible for a variety of tasks in the subdivision, including a HOA-maintained common area and 20-foot nature preserve adjacent to the Dominion Oaks subdivision. If approved, a preliminary plan and final plat will need to be submitted to city staff for final approval to ensure proposed infrastructure meets all requirements. “Based on all of the aforementioned considerations, staff recommends that the Planning and Zoning Commission recommend that City Council approve the proposed PD-H, [Planned Development-Housing], District zoning, on the subject property,” city staff wrote in the proposal. The Planning & Zoning Committee will consider the rezoning request at 6 p.m. Thursday in the council chambers of the Bryan Municipal Building located at 300 S. Texas Ave. in Bryan.
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The United States could be approaching another debt ceiling crisis, with Treasury Secretary Janet Yellen signaling that extraordinary measures may be needed by mid-January to prevent a default. Yellen urged Congress to take decisive action to maintain the country's financial credibility. In legal news, Starbucks has faced a setback as a federal appeals court denied its challenge to a National Labor Relations Board ruling. The court found the company unlawfully dismissed baristas seeking union organization, affecting major corporations like Amazon and SpaceX. Cybersecurity alarms are ringing as another telecom company has been compromised by China's Salt Typhoon cyberespionage. Meanwhile, free-speech groups challenge the legality of a U.S. law targeting TikTok, presenting arguments to the Supreme Court. U.S. homelessness records an 18% rise amid economic challenges, highlighting urgent social issues. (With inputs from agencies.)Cogent Communications CFO Thaddeus Weed sells $391,584 in stock
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