Alibaba’s Lazada cuts staff across Southeast Asia in fresh round of layoffs

Lazada is the third-largest e-commerce player in Indonesia, after Sea Limited’s Shopee and Tokopedia, according to Momentum Works. Matt Hunt | Lightrocket | Getty Images SINGAPORE — Alibaba-owned Lazada began its latest round of layoffs on Wednesday, a person with direct knowledge of the matter told CNBC, following a slew of media reports about cuts … Read more

Southeast Asia looks to renewable power for energy security

The floating solar photovoltaic power plant by EDPR Sunseap Group, a unit of Energias de Portugal SA, in Woodlands, in Singapore, on Wednesday, Dec. 7, 2022. Bryan van der Beek | Bloomberg | Getty Images Southeast Asia is home to some of the world’s fastest-growing economies. As energy demand grows, the region is turning to … Read more

Cities are fighting back against overtourism: Venice, Amsterdam, Bali

From overtourism to no tourism — and back again. Many cities have come full circle to worrying about too many tourists rather than too few.    The rise of budget airlines, short-term home rentals and cruise ships are part of the problem, said Lionel Saul, a research assistant and visiting lecturer at EHL Hospitality Business … Read more

Indonesia could be the ‘gateway’ to EV investments in ASEAN

Korean automobile manufacturer Kia displays the electric vehicle “EV6 GT-Line” during the 30th Gaikindo Indonesia International Auto Show in Tangerang on August 10, 2023. Yasuyoshi Chiba | Afp | Getty Images Indonesia’s EV-friendly policies have lured global investors to the country, but experts say they could also boost investments in Southeast Asia’s automotive industry more … Read more

Asia food inflation fears rise as rice prices surge

An undated stock photo of a market stall with piles of many varieties of Vietnamese rice in Ho Chi Minh city grocery. Vietnam is one of the largest exporters of quality rice, Asia’s most important staple food. Bicho_raro | Istock | Getty Images A perfect storm may be brewing in Asia. Rice prices surged to … Read more

ASEAN moves closer to economic unity with new regional payments system

Indonesian President Joko Widodo makes a speech during the Association of Southeast Asian Nations (ASEAN) Foreign Minister’s Meeting in Jakarta, Indonesia on July 14, 2023. Murat Gok | Anadolu Agency | Getty Images A new regional cross-border payment system recently implemented by Southeast Asian nations could deepen financial integration among participants, bringing the ASEAN bloc … Read more

Asia could lose $500 billion GDP from pandemic school closures: Oxford

Elementary students sit inside dividers as preventive measure against Covid-19, as they attend physical classes at Longos Elementary School on Nov. 15, 2021 in Alaminos, Philippines. Ezra Acayan | Getty Images News | Getty Images School closures during the pandemic could erase over $500 billion of potential economic growth from a handful of Asian countries, … Read more

ASEAN’s digital economy has great potential, but roadblocks remain

ASEAN has a high internet penetration rate of over 70%. Carlina Teteris | Moment | Getty Images Southeast Asia’s digital economy has plenty of growth potential, backed by strong fundamentals including over 460 million digital consumers, young and tech-savvy populations, as well as rising internet penetration. The digital economy across six countries within the Association … Read more

Electric car sales surged by 55% in 2022 to hit over 10 million: IEA

Electric vehicles from Tesla photographed in China. The world’s second largest economy is a major player when it comes to the sale of electric vehicles. Vcg | Visual China Group | Getty Images Electric car sales jumped to more than 10 million last year, with China accounting for roughly 60% of the market, according to … Read more

Hong Kong retains spot as most expensive business destination in Asia

Hong Kong has been named the most expensive location in Asia for business travelers — for the second year in a row, according to a new report.  ECA International’s latest Daily Rates research ranked countries based on costs for short trip expenses: four-star hotel rooms, meals, laundry, alcoholic and soft drinks, journeys by taxi and … Read more