Vietnam 

Investors pledge VNĐ30 trillion in tourism in central and Central Highland regions – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A view of Ninh Chữ Beach in central Ninh Thuận Province. The central region has been urged to promote tourism development. – Photo news.zing.vn Viet Nam News HÀ NỘI — Investors have pledged to invest more than VNĐ36.1 trillion (US$1.5 billion) into 19 tourism projects in the central and Central Highland regions. The 19 projects received initial investment approvals at a conference for the region’s tourism development held on Saturday with the participation of Prime Minister Nguyễn Xuân Phúc. Among the seven provinces and cities which received…

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Vietnam 

PM asks central localities to promote regional connectivity – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News THỪA THIÊN-HUẾ — Localities in the central region need to pay special attention to enhancing regional connectivity in their development policies, Prime Minister Nguyễn Xuân Phúc said at a meeting of the Council for the Central Key Economic Region in the central province of Thừa Thiên-Huế on February 15. He ordered provinces represented by the council, namely Thừa-Thiên Huế, Đà Nẵng, Quảng Nam, Quảng Ngãi and Bình Định, to focus on marine tourism by building coastal roads and linking tourist ports. The PM also…

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Vietnam 

Central region told to develop tourism as key economic sector – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News THỪA THIÊN-HUẾ — The Central and Central Highlands Region has been told to work harder to make tourism a key economic sector of the whole region. Speaking at a conference seeking solutions for the development of regional tourism, Prime Minister Nguyễn Xuân Phúc urged 19 provinces in this region to work harder for a common plan to boost the growth of tourism. “Tourism [in the region] has seen a slow pace of progresses in both service type and service quality. Operations of the sector…

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The SFC throws in the towel on Central rents, signs on for new office space at One Island East

The Securities and Futures Commission (SFC) plans to move out of its Central office to save on rental costs as it forecasts a deficit of HK$230 million (US$29.3 million) for the year ahead. The city’s securities regulator has taken out an eight-year lease in Swire Properties’ One Island East in Quarry Bay. The move, set to take place under a lease beginning in January 2020, would likely reduce office rental costs for the regulator by about half, according to an agenda published online by the Legislative Council on Tuesday. The…

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China joins global central bank gold rush as its foreign exchange reserves stabilise

China has joined a global central bank gold rush in the last two months by increasing its official gold reserves, even though the purchase remains modest compared to the volume of the mainland’s foreign exchange reserves, according to data released by the People’s Bank of China on Monday. The country’s gold reserves rose slightly to 59.94 million ounces at the end of January from 59.56 million ounces at the end of December 2018, marking a second straight month of increase. The latest gold purchase by the world’s second-largest economy came…

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As central banks turn dovish, how loose will this year’s monetary policy be?

In the middle of November last year, the yield on one-year Chinese government debt fell below its American counterpart for the first time ever, according to data from Bloomberg, dropping to 2.5 per cent as Beijing’s shift towards more growth-supportive measures gathered pace. The yield gap between the two countries’ 10-year bonds had also narrowed sharply, dropping to just 30 basis points as the divergence between Chinese and American monetary policy gained momentum. It was not just the Federal Reserve and the People’s Bank of China that were parting ways.…

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India’s central bank delivers pre-election rate cut prime minister Narendra Modi was hoping for

India’s new central bank chief delivered an unexpected interest rate cut, providing Prime Minister Narendra Modi with the kind of stimulus he needs to stoke economic growth in an election year. In a sharp reversal from October, when the Reserve Bank of India took rate cuts off the table, governor Shaktikanta Das – who took office in December – opened the door to more policy easing and brought growth firmly back onto the Monetary Policy Committee’s agenda. That was a departure from his predecessor Urjit Patel, whose singular aim was…

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Vietnam 

Central bank to ease lending rates – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The State Bank of Vietnam (SBV) buying net US$4 billion in January may be the way to lower Vietnamese đồng lending rates.— Photo cafef.vn HÀ NỘI — The State Bank of Vietnam (SBV) buying net US$4 billion in January may be the way to lower Vietnamese đồng lending rates. The data was announced at the Government’s monthly meeting on Thursday. To achieve such a result, the central bank in late November 2018 sold greenback futures that…

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Vietnam 

Central city launches new IT Park – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The entrance of the Đà Nẵng Information Technology Park (DITP) in Hòa Vang district. It has completed the first stage of construction on 131ha with investment of US$82 million. — VNS Photo Công Thành Viet Nam News ĐÀ NẴNG — The central city has launched the first stage of the Đà Nẵng Information Technology Park (DITP) in Hòa Vang district after one year of construction on 131ha with total investment of US$82 million. The DITP, which was invested and built by the Trung Nam Group, now offers infrastructure…

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Vietnam 

Central bank net injected $2b to meet high capital demand at year-end – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The central bank net injected more than VNĐ47.5 trillion (US$2 billion) into the open market operation. — Photo ABBank Viet Nam News HÀ NỘI — The State Bank of Việt Nam (SBV) net injected more than VNĐ47.5 trillion (US$2 billion) into the open market operation (OMO) last week to support the liquidity of the banking system amid rising capital demands at the end of the year. According to the latest report from the Saigon Securities Company, the injection was foreseeable as the SBV also pumped a large amount of…

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