Xinhua Asia-Pacific news summary at 0600 GMT, April 9

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HANOI -- S&P Global Ratings has recently upgraded Vietnam's long-term sovereign credit rating to "BB" from "BB-", the first time since 2010, and maintained its outlook at "stable".

"The stable outlook reflects our expectation that Vietnam's economy will continue to expand rapidly, exemplifying gradual improvements in its policymaking settings and underpinning credit metrics," Vietnam News Agency quoted S&P's press release as reporting on Tuesday. (Vietnam-Credit rating)

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VIENTIANE -- The Lao Recovery Consultation meeting on Monday brought together Lao government and development partners to discuss the way forward and build on the findings of the Post-Disaster Needs Assessment (PDNA) conducted in 2018.

In 2018, Laos suffered its worst floods in a decade, heavy rain during Tropical Storm Son-Tinh and the collapse of a dam at the Xe-Pian Xe-Namnoy hydropower plant in Attapeu province led to an unprecedented flash flood downstream, which affected more than 600,000 people in all 17 provinces and Lao capital Vientiane. (Laos-Floods-Reconstruction)

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TOKYO -- Japan plans to introduce a series of new banknotes featuring new designs and incorporating next-generation anti-counterfeiting technology, the government said Tuesday.

Japanese Finance Minister Taro Aso said that three different banknotes will be revamped, with the update marking the first change since 2004. (Japan-New banknotes)

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CANBERRA -- The Australian government's proposed tax cuts for middle and high-income earners will cost the nation 30 billion Australian dollars (21.3 billion U.S. dollars) per year by 2030, a report has found.

An analysis by the Parliamentary Budget Office (PBO), an arm of Parliament charged with "providing independent and non-partisan analysis of the budget," released on Tuesday found that the cuts will cost 18.7 billion Australian dollars (13.3 billion U.S. dollars) in lost revenue in the financial year 2024-25, rising to 30 billion Australian dollars (21.3 billion U.S. dollars) by 2029-30. (Australia-Tax cut) Enditem

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