Global 

Singapore exports suffer biggest fall in three years as exposure to Chinese economy, US trade war bites

Concerns over Singapore’s exposure to the Chinese economy mounted on Monday after new data showed that its non-oil exports fell by 15.9 per cent in May, the largest decline for more than three years.Exports to China and Hong Kong slumped by 23.3 per cent and 24.8 per cent from a year earlier respectively, showing Singapore’s vulnerability to fluctuations in regional trade as an important trade and shipment hub for Asia-Pacific.Many of the goods bound for China from other nations pass through… Source link

Read More
China 

China asks state-owned ‘national champions’ to help ‘stabilise’ economy, boost profits by 9 per cent in 2019

China’s biggest 97 industrial conglomerates, known as the country’s national champions, have been asked to play their part as “stabilisers” in the national economy in a bid to offset the trade war with the United States by boosting their profits by 9 per cent in 2019, according to the state-owned Xinhua News Agency.The State-owned Asset Supervision and Administration Commission (SASAC) set the target for the enterprises under its direct control, including state-owned oil and electric companies,… Source link

Read More
Vietnam 

Vietnamese securities catch the eye of South Korean investors – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

In March Korean Investment Management bought a 5.08 per cent stake in Việt Capital Securities Joint Stock Company.  — Photo tinnhanhchungkhoan       Compiled by Thiên Lý                                                          The Vietnamese stock market now has many South Korean-owned securities companies following a series of acquisitions in recent years. In March Korean Investment Management bought a 5.08 per cent stake in Việt Capital Securities Joint Stock…

Read More
Vietnam 

Year’s 2nd Vietbuild to be held in HCM City this week – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A press briefing to introduce the second Vietbuild exhibition in HCM City this year, which will be held at the Saigon Exhibition and Convention Centre from June 19 to 23. — VNS Photo Xuân Hương HCM CITY — The Vietbuild International Exhibition with the theme construction, building materials, real estate, and interior and exterior decoration will be held in HCM City from June 19 to 23. The second Vietbuild expo to be held this year in the city — five on various themes will be held this year —…

Read More
Vietnam 

Growing Chinese investment in Việt Nam: time to worry? – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Workers at China’s AKA Homewares Company in the southern Long An Province. VNA/VNS Photo Danh Lam   HÀ NỘI – Chinese companies are accelerating investment in Việt Nam – but some local businesses are voicing concerns.   Foreign investment hit a four-year high of US$16.7 billion in the first five months of this year, up 69 per cent compared to the same period in 2018. Chinese investment made up 42.5 per cent of the total according to data released by the Foreign…

Read More
Vietnam 

Market to fluctuate in the week ahead – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Investors monitor shares movement at the Bảo Việt Securities Co. VNA/VNS Photo Trần Việt   HÀ NỘI The market is expected to experience ups and downs within a narrow band during the coming week. Cautious sentiment will dominate the market as investors wait for information about the restructuring of exchange-traded funds and the Fed’s meeting.   The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 0.37 per cent on Friday to close the week at 953.61 points. The index lost a total of 0.49 per cent last week. On the Ha Noi Stock…

Read More
Vietnam 

Construction of $162m port complex gets green light – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    A port in Dung Quất EZ. Photo bsr.com.vn HÀ NỘI — The Dung Quất Economic Zone (EZ) and Quảng Ngãi Industrial Parks (IPs) Authority has granted an approval in principle for Hòa Phát multipurpose port company to develop a large-scale port complex in the central province. The complex will cost more than VNĐ3.77 trillion (US$162 million) and will be divided into two phases, online newspaper baodautu.vn reported. In the first stage between now and 2020, a wharf with a length of 300 metres…

Read More
Home 

Titanic iceberg of world debt could sink a slowing global economy

In the same way that Wall Street and other markets have blithely shrugged off the threat of an all-out trade conflagration, they have paid little heed to the mountain of global debt. Yet alarm is spreading among officials and economists. Beyond the concern on absolute debt levels, the fear is that much lending may be unrecorded, suggesting an iceberg of debt more menacing than initially appears, especially where it is sold in securitised forms. Debt crises have crept up on an unheeding world… Source link

Read More
China 

Central bank’s ‘tremendous room’ to adjust policy may be put to test as China’s economy slows

The boast by People’s Bank of China governor Yi Gang this month that he has “tremendous room” to adjust policy could soon be tested as the economy slows, throwing attention on the impact on the nation’s fragile currency and financial markets.Compared to European and Japanese peers, China does have more obvious policy space. Its benchmark one-year lending rate has stayed at 4.35 per cent since 2015, far above zero. The Federal Reserve’s dovish turn also eases the depreciation pressures on the… Source link

Read More
Vietnam 

Building trust critical for digital banking development – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Attendees at the “Digital banking and the specific ecosystem” conference. Photo Bizlive HÀ NỘI – Digital banking is inevitable for Vietnamese banks and building trust is critical in the development of the new business model, experts said at a conference on Friday. At a conference titled ‘Digital banking and the specific ecosystem’ held by news portal Bizlive, Nguyễn Chiến Thắng, VPBank Director of Digital Sales & Partners, said that digital banking is an inevitable development path for banks. According to Thắng, there are many challenges facing banks in the development…

Read More