FPT’s profit rises 23 per cent, driven by software outsourcing – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The software outsourcing segment recorded revenue of more than VNĐ2.3 trillion and pre-tax profit of VNĐ329 billion by the end of March, both up more than 37 per cent year on year. — Photo courtesy of the company HÀ NỘI — IT giant FPT Corporation reported first-quarter revenue of nearly VNĐ5.7 trillion (US$244.6 million) and before-tax profit of VNĐ960 billion ($41.2 million). Shares of the company (FPT) rose 1.3 per cent on Thursday on the Hồ Chí Minh Stock Exchange to VNĐ48,500 ($2.08) per share following the information. These results represented growth…

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China pork prices could rise 70 per cent this year, with millions of animals facing cull

Pork prices in mainland China may rise by more than 70 per cent year on year to record levels in the second half of 2019 following a drop in hog supplies, Tang Ke, a department director at China’s ministry of agriculture and rural affairs, said on Wednesday.Chinese farmers have had to cull their pig populations to combat an outbreak of African Swine Fever that began in August last year.Meanwhile, the share prices of large meat processors in the country have risen thanks to optimism that higher… Source link

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Shanghai Commercial Bank’s 2018 profit up 17 per cent on higher interest income, forfeited Hong Kong Life deposit

Shanghai Commercial Bank said on Tuesday that its profit rose 17 per cent in 2018, driven by higher interest income, particularly in the US, and an “extraordinary contribution” resulting from the failed sale of Hong Kong Life Insurance.The bank, which went private in 2017, reported a profit of HK$2.85 billion (US$363 million) for the year ended December 31, up from HK$2.43 billion a year earlier.“In the year ahead, the bank will take a more cautious approach to preserve good credit quality and… Source link

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China 

China’s 2019 growth to slow to 6.2 per cent despite policy support, survey says

China’s economic growth is expected to slow to a near 30-year low of 6.2 per cent this year, a Reuters poll showed on Friday, as sluggish demand at home and abroad weigh on activity despite a flurry of policy support measures.The median forecast was slightly lower than the 6.3 per cent economists had predicted in the last poll in January.While the world’s second-largest economy has shown some signs of steadying recently, analysts caution it is too early to tell if the new-found momentum can be… Source link

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Vietnam 

Vissan targets 14 per cent revenue increase – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

At the Vissan annual general meeting in HCM City on April 11. — VNS Photo Xuân Hương HCM CITY —Shareholders of leading food company Vissan Joint Stock Company approved a number of targets for 2019 at its annual general meeting yesterday. They include pre-tax profit of VNĐ200 billion (US$8.6 million) on revenues of VNĐ4.85 trillion ($208.9 million), respectively 14 per cent and 9 per cent up. Its fresh meat and processed food output are expected to increase by 10 per cent to 28,092 tonnes and 24,930 tonnes. Speaking at the…

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Vincom Retail’s revenue up 65 per cent in 2018 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The shareholders of Vincom Retail agreed to approve the development and investment-business plans for 2019 with the continued promotion of Vincom’s presence in provinces and cities nationwide. HÀ NỘI — Vincom Retail Joint Stock Company earned total net revenue of VNĐ9.12 trillion (US$392.2 million) in 2018, up 65 per cent compared with the previous year, according to its financial report released at the second shareholders’ meeting in Hà Nội on Thursday. The report showed that Vincom Retail’s total asset value gained nearly VNĐ38.7 trillion, with operating profit margin reaching 33 per cent. In terms of…

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Vietnam 

PV Gas raise dividend to 53 per cent, posting $124m revenue in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The company has already paid 40 per cent for 2018’s dividend and the remaining 13 per cent will be paid this year. Photo laodong.vn HÀ NỘI PV Gas (GAS) decided to raise its 2018 dividend from 40 per cent to 53 per cent thanks to its spectacular business performance last year. This information was reported at the company’s annual shareholders’ meeting on Tuesday. The company has already paid 40 per cent for 2018’s dividend and the remaining 13 per cent will be paid this year. PV Gas planned a low…

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Property 

Home sales rise by 64.3 per cent in Chongqing, the barometer of China’s national market

The sales of new homes in the megacity of Chongqing in southwest China jumped by 64.3 per cent in March to 2.12 million square metres, according to consultancy Cric. It had recorded a cooling in its property market in the second half of 2018.The city, with an area 74 times that of Hong Kong, recorded the sale of 31.23 million square metres of new homes last year and is China’s largest market in terms of area of residential apartments sold. It is also indicative of the overall China market, with……

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Hong Kong developers promise to sell 20 per cent of flats in housing projects on open market as government condemns ‘unfair’ tender process

The industry body for Hong Kong’s property developers said its members would from now on ensure that 20 per cent of flats in a new project are sold on the open market, as the government warned it could take action against those that sell through tender.Lawmakers have slammed developers for the increasingly widespread and “unfair” practice of selling new flats through tender, a marketing tactic they claim puts the buyer at a disadvantage. And they were quick to criticise Thursday’s decision by… Source link

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Vietnam 

Credit growth rate estimated at 2.28 per cent in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Total outstanding loans of the banking system rose 2.28 per cent as of March 25 and the total means of payment grew by 2.67 per cent compared to late 2018. Nguyễn Thị Hồng, Deputy Governor of the State Bank of Việt Nam (SBV), made the statement at a press conference on the monetary policy and operations of the banking system in the first quarter of 2019 in Hà Nội on Monday. The central bank reported that in the first three months of…

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