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ASEAN+3 Policymakers Should Rebuild Policy Space and Address Long-term Challenges Amid Positive Outlook

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SINGAPORE, April 8, 2024 /PRNewswire/ — The ASEAN+3 Macroeconomic Research Office (AMRO) today published its annual flagship report, the ASEAN+3 Regional Economic Outlook (AREO) 2024. AMRO staff now forecast the ASEAN+3 region to grow at 4.5 percent this year, up from 4.3 percent in 2023. AMRO also released today its 2025 growth forecast, with the region projected to expand by 4.2 percent.

The stronger growth for ASEAN+3 this year will be mainly driven by robust domestic demand, underpinned by increasing household incomes and recovering investment activity. The anticipated turnaround in exports, in part due to the global chips upcycle, and the continued recovery of tourism will provide additional tailwinds.
The ASEAN region is expected to benefit from a combination of these favorable factors, with growth in 2024 and 2025 forecast at 4.8 and 4.9 percent, respectively, while growth in the Plus-3 region is expected to remain robust at 4.3 and 4.1 percent, respectively.
With global commodity prices continuing to stabilize, inflation in ASEAN+3—excluding Lao PDR and Myanmar—is expected to moderate from 2.8 percent last year to 2.5 percent in 2024, before easing further to 2.3 percent in 2025.
Nevertheless, AMRO warns against taking the region’s positive momentum for granted in light of potential disruptors to the growth trajectory.
“A sudden spike in global commodity prices, weaker-than-expected growth in China, or escalating geopolitical tensions could turn the tide for the region,” said AMRO Chief Economist Hoe Ee Khor. “Now that the current outlook is quite positive, given robust growth and gradual disinflation, ASEAN+3 economies need to rebuild policy space as much as they can.”
It has been nearly a year since the World Health Organization declared an end to the COVID-19 pandemic and ASEAN+3 continues to grapple with pandemic scars. The global health crisis has taken a toll not only on economic activity, but also on the labor force and capital formation, especially infrastructure. Trend growth for most regional economies has remained lower than the pre-pandemic period, and the recovery in capital formation has been particularly weak.
“Revitalizing growth requires boosting investment and embracing technology to raise productivity and resilience, especially of smaller firms,” said Khor. “Stepping up regional collaboration can be instrumental in achieving this goal.”
AMRO also calls on ASEAN+3 economies to work more closely together in response to three key secular trends: aging, global trade reconfiguration, and rapid technological changes.
While these structural shifts pose various risks, they also create new sources of growth and productivity gains. Balancing the risks with the opportunities they offer will help ASEAN+3 secure sustainable, resilient, and inclusive growth in the long term.
“Aging presents a critical challenge for the ASEAN+3 region,” said Allen Ng, AMRO Group Head and one of the lead authors of the AREO report. “At the same time, it’s important to recognize that the region is not just aging. We are also living longer and healthier. Adapting to this ‘longevity dividend’ and enabling our populations to age productively will be crucial for the region’s future.”
Similarly, while the ongoing trade reconfiguration is casting concerns about the region’s time-tested export strategies, it is also creating new opportunities. One example is the spike in FDI inflows into several ASEAN economies and strong growth in ASEAN+3’s exports of “modern” services, especially those that can be delivered digitally.
However, concerns are rising about technology’s potential impact on the future of industries and jobs in ASEAN+3, especially with the rapid progress in artificial intelligence technologies such as Generative AI.
“Navigating these crosscurrents requires prioritizing robust policies to secure growth under various possible futures. For ASEAN+3, this includes deepening infrastructure development as well as promoting innovation and social inclusion,” Ng said.
The full findings of the AREO 2024 report can be found on the AMRO website.
About AMRO 
The ASEAN+3 Macroeconomic Research Office (AMRO) is an international organization established to contribute toward securing macroeconomic and financial resilience and stability of the ASEAN+3 region, comprising 10 members of the Association of Southeast Asian Nations (ASEAN) and China; Hong Kong, China; Japan; and Korea. AMRO’s mandate is to conduct macroeconomic surveillance, support regional financial arrangements, and provide technical assistance to the members. In addition, AMRO also serves as a regional knowledge hub and provides support to ASEAN+3 financial cooperation.
Visit our website and follow us on LinkedIn for more updates.
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Dun & Bradstreet Global Business Optimism Insights Report Shows Quarterly Increase

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Improving market dynamics have provided relief, indicating confidence in both domestic and global economic conditions 
LONDON, Oct. 11, 2024 /PRNewswire/ — Dun & Bradstreet (NYSE:DNB), a leading global provider of business decisioning data and analytics, today released its Q4 2024 Global Business Optimism Insights report. The report, fielded in Q3 2024, found a 7% increase in business optimism quarter-over-quarter, driven by gradual easing of inflation rates and favorable borrowing conditions.

Nearly four in five businesses are expressing increased optimism in domestic and export orders, capital expenditures and financial risk due to a combination of easing financial pressures, shifts in monetary policies, robust regulatory frameworks and higher participation in sustainability initiatives.
U.S. businesses recorded a nearly 9% rise in optimism, aided by falling inflation and expectations of further rate cuts. Similarly, business optimism in the U.K. and Spain showed notable recoveries as their respective central banks initiated monetary easing, rising by 13% and 9%, respectively. Emerging economies, such as Argentina and India, saw jumps in optimism levels due to declining inflation and increased domestic demand respectively.
“While overall global business optimism has increased and inflation has abated, it’s important to recognise that geopolitics contribute to economic uncertainty,” said Neeraj Sahai, President of Dun & Bradstreet International. “Industry-specific regulatory risks and more stringent data requirements have emerged as the top concerns among a third of respondents. To mitigate these risks, businesses are considering diversifying their supply chains and markets to manage regulatory risk.”    
Key findings from the Q4 report’s five indices include:
The Global Business Optimism Index increased by 7.3% over Q3 2024. This is a significant increase with 75% of businesses, especially smaller businesses, expressing confidence in sales and domestic and export orders ahead of the holiday season. The real estate (12.5%) and utilities (10.4%) sectors saw the highest jumps in optimism levels.The Global Supply Chain Continuity Index improved 6.8%, stemming from businesses reducing burdens on their supply chains by adopting nearshoring, using alternative and less-congestive routes, and relying on domestic supplies. One in four businesses in the U.S., as well as Switzerland and Spain, are considering diversifying supply chains and markets as their preferred strategy to manage their regulatory risk.The Global Business Financial Confidence Index increased 6.3% due to expectations of improved financial conditions and reduced borrowing costs as many economies have started to cut interest rates. Confidence in the U.S. and South Korea notably improved by 5.2% and 11.2%, respectively, on indications of their central banks pivoting towards looser monetary policies.The Global Business Investment Confidence Index improved 3.6%, showcasing optimism in capital spending centered around signs of global monetary policies becoming more accommodative, along with improvement in macroeconomic activities.The Global Business ESG Index increased by 6.1%, stemming from businesses’ efforts to meet regulatory requirements, stricter disclosure mandates and heightened investor awareness. Globally, stricter environmental regulations, such as the European Union’s Carbon Border Adjustment Mechanism and the German Supply Chain Due Diligence Act, are among top concerns for 29% of businesses, resulting in almost one in four conducting risk assessments or implementing regulatory compliance strategies.Descriptions and information about the indices can be found on page 24 of the report.
“Businesses are increasingly confident as borrowing costs decline, boosting optimism for higher sales, stronger exports, and reduced financial risks,” said Arun Singh, Global Chief Economist at Dun & Bradstreet. “This confidence is driving capital investments, with easing supply chain pressures supporting growth in the year’s final quarter.”
About the Global Business Optimism Insights Report
The Global Business Optimism Insights report is a synthesis of data from a comprehensive survey encompassing 32 economies, covering approximately 10,000 businesses and 17 sectors, alongside insights from Dun & Bradstreet, leveraging the firm’s proprietary data and economic expertise. The report is an amalgamation of five indices which reflect overall business optimism and expectations about supply chain continuity, financial and investment conditions and ESG initiatives. An index reading above 100 indicates an improvement in optimism relative to the base year (Q3 2023 to Q2 2024), while an index reading below 100 signifies a deterioration in optimism.
View the full report here.
About Dun & Bradstreet
Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk, and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit www.dnb.com.

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CRISIL jumps 12 places to 37th in Chartis RiskTech100 2025

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Recognised as Category Leader in model validation for the third year in a row
MUMBAI, India, Oct. 11, 2024 /PRNewswire/ — CRISIL Ltd, the global provider of advanced analytics and credit risk management solutions, has risen 12 places to #37 in the RiskTech100 2025 report published by the London-based Chartis Research this month.

This is the second consecutive year that CRISIL has featured among the top 50. The independent annual assessment ranks the world’s 100 best providers of risk and compliance technology and services.
The report also recognises CRISIL as a Category Leader in model validation for the third consecutive year, based on a risk technology survey, product demonstration, customer reference checks, and third-party sources of information. The process evaluated CRISIL’s capabilities across the model risk lifecycle, including model development, validation, governance, inventory management, and risk management and control.
Gurpreet Chhatwal, Chief Operating Officer, CRISIL Limited, says, “These awards reflect the strength of our service and technology offerings in the risk management space. As traditional and emerging risks continue to multiply at an accelerating rate, our offerings are more crucial than ever before, and we continue to evolve them to adapt to a rapidly changing world.”
CRISIL’s risk management solutions expedite regulatory and internal compliance, enable informed decision-making, and deliver substantial cost efficiencies for financial institutions (Fis). Among the key solutions are:
Model Infinity: A cloud-ready platform for model inventory, workflow and governance. Leverages advanced analytics and robust reporting to address distinct model inventory and model risk management requirementsScenario Expansion Manager: An adaptable tool that empowers FIs to seamlessly define, design, expand and analyse regulatory and internal stress-testing scenarios with precision and flexibilityCredit+ Intelligent Credit Origination: Streamlines credit risk assessment and credit rating framework through a combination of objective and subjective methodologies, enabling decision-making at lendersCredit+ Early Warning Signals: A credit risk monitoring infrastructure for active surveillance of the credit portfolio. Combines internal and external data and a multi-dimensional trigger library to identify early warning signals at the facility/ instrument, borrower and portfolio levels to deliver granular insights and risk intelligenceCredit+ Loan Origination system: Enables seamless management and automation of the loan origination process by managing borrower and proposal data and adhering to workflows specified in the FI’s credit sanctioning policyInternal credit risk models: CRISIL’s 32 credit risk models help FIs rate a wide range of credits, including corporate (large, mid and small), sector-specific, project finance and retail exposuresAshish Vora, Head, CRISIL Market Intelligence and Analytics, says, “This recognition highlights the strength, depth and global reach of our award-winning credit and risk solutions, Credit+ Intelligent Credit Origination and Credit+ Early Warning Signals. We continue to invest in our products, leveraging generative artificial intelligence (GenAI)-driven analytics, cutting-edge technology and advanced credit risk capabilities, to provide world-class solutions to our clients.”
Last month, CRISIL was also recognised as a Category Leader in the RiskTech Regulatory Reporting Solutions Quadrant Report 2024.
Chartis Research is part of Infopro Digital, which encompasses multiple brands, digital channels and events across the finance, technology and corporate sectors. Their combined reach of more than 400,000 risk and compliance professionals makes the RiskTech100® report the most comprehensive study of its kind.
About CRISIL Limited
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This press release is transmitted to you for the sole purpose of dissemination through your newspaper/ magazine/ agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to CRISIL. However, CRISIL alone has the sole right of distribution of its press releases for consideration or otherwise through any media including websites, portals, etc.
CRISIL has taken due care and caution in preparing this press release. Information has been obtained by CRISIL from sources which it considers reliable. However, CRISIL does not guarantee the accuracy, adequacy or completeness of information on which this press release is based and is not responsible for any errors or omissions or for the results obtained from the use of this press release. CRISIL, especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this press release.
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Automation.com & Hikvision white paper: how AIoT technologies drive manufacturing digitalization

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HANGZHOU, China, Oct. 11, 2024 /PRNewswire/ — In the rapidly evolving digital age, manufacturing is undergoing significant changes. Advanced technologies are reshaping the industry, and manufacturers worldwide are looking for innovative ways to optimize production and improve efficiency. AIoT (Artificial Intelligence of Things) is playing a key role in this transformation, combining AI and IoT to enhance operations, safety, and productivity in factories. Automation.com and Hikvision have jointly released a white paper that explores how AIoT is helping manufacturers work more effectively.

Enhancing production efficiency
AIoT can help drive improvements in production efficiency. Hikvision’s workshop digitalization solutions provide managers with real-time views of production lines. For example, in a cement manufacturing enterprise in China, Hikvision’s radar solution inventories a 250,000-ton aggregate warehouse in just 2 minutes, improving output quality stability by 60%.
Simplifying access and vehicle management
AIoT also simplifies the management of people and vehicle access within factories. Hikvision’s facial recognition system allows workers to enter the building without the need for keycards, making access both quicker and more secure. The system can also be integrated with human resources to record attendance. For vehicles, the yard management system (YMS) uses cameras to monitor entrances, loading docks, and vehicle speeds, making the process more organized and efficient.
Enhancing factory security with AIoT
AIoT also contributes to improved security in factories. Hikvision’s smart security system uses cameras and sensors to monitor the facility. High-point cameras offer a wide view of the area, while thermal cameras can detect abnormal temperatures to prevent fires or equipment failures. This multi-layered approach helps manufacturers respond quickly to potential risks.
Towards a safer, more efficient future in manufacturing
Hikvision’s AIoT technologies support safer and more efficient manufacturing. From advanced security systems to more streamlined production lines, these solutions help manufacturers stay competitive in today’s digital landscape. By adopting AIoT, companies can improve safety, optimize operations, and enhance overall efficiency.
To learn more about how AIoT technologies are driving the digitalization of manufacturing, download the full white paper here.
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