Brunei News
-
AFGHANISTAN, 2017/09/09
Destinations worldwide welcomed 598 million international tourists in the initial six months of 2017, some 36 million additional than in the same period of 2016. At 6%, increase was well above the trend of recent years, making the current January-June period the strongest half-year since 2010.
Visitor numbers reported by destinations around the world reflect strong request for international travel in the initial half of 2017, according to the new UNWTO World Tourism Barometer. Worldwide, international tourist arrivals (overnight visitors) increased by 6% compared to the same six-month period last year, well above the sustained and consistent trend of 4% or higher increase since 2010. This represents the strongest half-year in seven years.
-
BRUNEI , 2017/06/27
The next of trade and cross border commerce in Asia and the Pacific and the US role in Asia’s economy were put in doubt by Donald Trump’s withdrawal of the United States from the Trans-Pacific Partnership (TPP) economic agreement.
The TPP was the economic arm of President Obama’s pivot to Asia. It was as well supposed to set the rules and standards of trade in Asia and for the world. It is no amaze again, that some of the remaining 11 members of the TPP are trying to save the agreement even without US participation. A lot of political capital was expended in negotiating the TPP and nations are looking for ways to maintain the momentum of economic integration.
-
AFGHANISTAN, 2016/12/11
A university education may expand your mind. It will as well fatten your wallet. Data from the OECD, a club of rich nations, show that graduates can expect far better lifetime earnings than those without a degree.
The size of this premium varies. It is greatest in Ireland, which has a high GDP per chief and rising inequality. Since 2000 the unemployment rate for under-35s has swelled to 8% for those with degrees – but to additional than 20% for those without, and nearly 40% for secondary school drop-outs. The country’s wealth presently goes disproportionately to workers with letters next their names.
-
AFGHANISTAN, 2016/01/02
World economic increase will be disappointing next year and the outlook for the medium-term has as well deteriorated, the chief of the International Monetary Fund said in a guest article for German newspaper Handelsblatt published on Wednesday.
IMF Managing Director Christine Lagarde said the prospect of rising interest rates in the United States and an economic slowdown in China were contributing to uncertainty and a higher risk of economic vulnerability worldwide.
Added to that, increase in world trade has slowed considerably and a decline in raw material prices is posing problems for economies based on these, while the financial sector in a lot of nations still has weaknesses and financial risks are rising in emerging markets, she said.
-
BRUNEI , 2015/12/28
Foreign direct investment (FDI) and trade in Brunei Darussalam are expected to increase under the recently agreed Trans-Pacific Partnership (TPP) transaction, dovetailing with the Sultanate’s efforts to diversify its economy.
Trade increase would be welcome news given the current economic climate. According to the new figures from Brunei’s Department of Economic Planning and Development, total trade was down 26.6% year-to-date in July at BN7.9bn ($5.6bn), with exports down 35.2% year-on-year, while imports rose by 5.2%.
Trade talks
The TPP marks an expansion of the Trans-Pacific Strategic Economic Partnership Agreement, set up by Brunei, Chile, New Zealand and Singapore in 2006.
-
BRUNEI , 2015/12/28
An upgrade to its fleet of tankers could help Brunei Darussalam’s liquefied natural gas (LNG) sector weather external headwinds, which appear unlikely to relieve in the near to medium term.
While Brunei is taking steps to diversify its economy, the energy sector remains at its core, with hydrocarbons revenues accounting for around half of GDP.
The country’s LNG sector revolves around the half national-owned Brunei LNG (BLNG) plant in Lumut. Originally constructed in 1972, the plant’s capacity has been upgraded over the years, and it presently produces around 7.2m tonnes per annum.
BLNG continues to play a key role in both regional LNG supply and the domestic economy, shipping around 6.71m tonnes of gas to Japan and South Korea each year.
-
BRUNEI , 2015/12/27
Onshore developments, inclunding aquaculture and processing facilities, could help Brunei Darussalam unlock the potential of its burgeoning fisheries industry.
The Sultanate is keen to overcome supply gaps and boost the sector’s contribution to GDP, particularly in the price-added segment, as part of a national drive to diversify the economy away from oil and gas.
Maritime legacy
A one-time maritime hub, Brunei Darussalam’s natural resources – which include 161 km of coastline and an extensive, 36,600-sq-km exclusive economic zone – should support the country’s efforts to expand fisheries revenues.
-
BRUNEI , 2015/11/18
Increase among the 21 Asia-Pacific Economic Cooperation (APEC) economies softened to 3.1 % in the second quarter of 2015, down from 3.2 % in the initial quarter and 3.4 % a year ago, according to an APEC economic analysis released on Tuesday.
The statement said the increase slowdown reflected the prolonged weakness in world economic activity as the modest recovery in advanced economies was matched by a general slowdown in emerging market economies.
The moderation in GDP levels could be attributed to declining investments and lacklustre exports, according to the statement.
"Economies across the Asia-Pacific continue to grow but find themselves in a holding pattern of lower increase in the absence of high trade volumes," said Alan Bollard, Executive Director of the APEC Secretariat.
-
BRUNEI , 2015/09/30
Welcoming the commencement of regional integrated economy society of ASEAN Economic Community ( AEC) regime slated for later this year, an initiative to foster production capacity cooperation between ASEAN and China was sought to further expand economy and trade ties between the two economies.
The thought to further explore the cooperation was highlighted in a high level forum discussing next relations of AEC and China in production capacity cooperation held here on Friday, attended by senior figures and stakeholders of the two economies.
-
BRUNEI , 2015/04/01
Consumers are set to benefit from significant changes in Brunei Darussalam’s telecoms market due to moves by the sector regulator to eliminate mobile termination and incoming call charges, amongst other measures.
On March 3rd, the Authority for Info-communications Technology Industry (AITI) announced plans to rationalise tariffs to ensure a level playing field between mobile operators.
The changes, which become effective at the end of March, include directives requiring local mobile providers to adopt the so-called Sender-Keeps-All (SKA) interconnection regime, which eliminates mobile termination charges, allowing existing players and new entrants to compete on an equal footing. “The different pricing arrangement has become a barrier to inter-operator communications. Subscribers of the major player would be reluctant to call subscribers of a smaller player due to the higher rates imposed,” said the body.
