Vietnam 

Rice exports face tough time amid huge global supply – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Farmers harvesting rice in the Mekong Delta. Photo english.vietnamnet.vn HCM CITY — With an abundant global supply and high inventory in major exporting countries, Việt Nam is expected to struggle to secure exports of rice in the second half of the year, speakers said at a conference held in HCM City on Monday. Trần Quốc Khánh, deputy minister of Industry and Trade, said that Việt Nam’s rice exports in the first half of the year experienced great challenges due to a drop in demand from major importers.  Except for the Philippines,…

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Vietnam 

Exporters of farm produce face tougher standards in China – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Speakers chat during a break at a meeting on imports and exports of agroforestry products between Việt Nam and China held yesterday in HCM City. — VNS Photo Bồ Xuân Hiệp HCM CITY — Vietnamese exports of agricultural products must meet food safety, quality and traceability requirements to China which now requires that exports be sent through official channels only, speakers said yesterday at a meeting held in HCM City.  Trần Thanh Nam, deputy minister of Agriculture and Rural Development, said that Vietnamese producers must change their mindset about China and improve production to meet new market requirements. He noted that…

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Singapore 

Teenager receives 9 stitches on face after suffering cut at Jewel’s Canopy Park mirror maze, Singapore News

SINGAPORE – A 14-year-old girl who was playing at the mirror maze attraction at Canopy Park in Jewel Changi Airport suffered a cut on her face that required nine stitches. A spokesman for Jewel confirmed the incident, which took place around 5.15pm on Wednesday (June 19). “First aid was immediately administered by the attraction ranger on duty when the guest discovered the injury upon exiting the maze,” the spokesman said. The teen’s aunt, Ms Susan Goh, 45, posted a photo of her niece’s wound on Facebook on Wednesday evening. Ms…

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China 

China quiet on Xi Jinping’s G20 meeting and trade talk demands in face of fiery Donald Trump rhetoric

China’s relative silence is response to comments by US President Donald Trump in relation to the trade war is due to Beijing redoubling its efforts to take a cautious approach ahead of future talks amid “low expectations” of a quick deal after negotiations collapsed last month, analysts said.Trump has openly threatened to levy tariffs on additional Chinese products if a meeting with counterpart Xi Jinping does not take place at the G20 summit in Japan at the end of the month, while also urging… Source link

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Home 

Stocks Blog: Traders face fresh tough tariff threat from Trump

Good morning, traders. Overnight, “Tariff Man” Donald Trump had a lot to say about … you guessed it — tariffs. The US president said his Chinese counterpart– whom he lavish praise on — better show up to talk at the G20 meeting later this month in Japan or he will go through with his latest batch of tariffs on Chinese goods immediately. He said China will make a deal because “they’re going to have to.” We will be watching markets closely for you. Please send any questions you have for…

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Banks face big capital burden despite dividend plan – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Fitch-rated Vietnamese banks, including VietinBank, are estimated to need US$4.1 billion of additional capital to meet Basel II standards. Photo VietinBank HÀ NỘI A plan to allow large Vietnamese State-owned commercial banks to pay dividends in shares or retain dividends would help them accumulate capital and meet regulatory minimum capital thresholds, Fitch Ratings said on Friday. However, the rating agency said, the positive effect is likely to be limited relative to the large capital needs State-owned banks face amidst rapid balance sheet expansion, underreporting of bad loans and Basel II implementation…

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Money 

Next phase of trade war could hit clothing prices as manufacturers leave China to dodge tariffs, warns owner of Vans, North Face

Consumers could face higher prices for clothing and footwear if manufacturers move out of China to avoid trade war tariffs imposed by the US, the regional director of American apparel company VF Corporation warned.If Washington were to carry out its threat of placing additional duties on a wide range of Chinese-made consumer goods including footwear and apparel, inflation across the industry would be likely as manufacturing costs in the region increased, said Asia-Pacific managing director… Source link

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Home 

No commissions? How Hong Kong’s office market will face a challenge from Singaporean leasing platform GorillaSpace

Singaporean workspace platform GorillaSpace believes it can disrupt Hong Kong’s office leasing market by allowing landlords and tenants to transact directly with each other online, a model they say has been used successfully with co-working and office space in the city state.The start-up, founded by a husband and wife team, recently won an undisclosed amount of seed funding from Japanese real estate developer Mitsubishi ­Estate.It said the model had been well received by growing companies… Source link

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China 

Zhenjiang suicide-watch guard is the human face of the economic malaise that afflicts smaller cities amid the US-China trade war

As an out-of-work chemist inJiangsu province, Chen Wei thanked his lucky stars when he found work as a security guard for China’s anti-corruption agency.For 4,000 yuan (US$579) a month, Chen keeps watch with a colleague in six-hour shifts over detainees, some suicidal, who are awaiting investigation by the Communist Party’s organ for policing corruption.The shift work, which pays a third less than his old job making plastic pellets, is mind-numbing – there’s no Wifi-enabled smartphones allowed,… Source link

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Vietnam 

Việt Nam forecast to face net imports of crude oil – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Oil rigs on the Bạch  Hổ oil field. Việt Nam’s crude oil production is forecast to continue to drop over the coming years. — VNA/VNS Photo HÀ NỘI — Việt Nam’s self-sufficiency for crude oil could come to an end due to exploitation that could turn the country into a net importer of crude oil for the first time, experts warned. According to analysts from the Fitch Solutions Macro Research, crude oil production in Việt Nam would continue to drop over the coming years, averaging annual declines of 4-5 per cent over the next 10…

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