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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As global growth slows, the world needs a new Marshall Plan, not lower interest rates

Workers at Dazhou railway station in Sichuan province, China, inspect tracks, which serve as part of the Belt and Road Initiative freight rail route linking Chongqing in China to Duisburg in Germany, on March 14. China’s belt and road is a step in the right direction as it invests in infrastructure to boost regional growth. Photo: Reuters Source link

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China 

Global recession less likely thanks to loosening monetary policy, Credit Suisse CIO says

Fears that an escalating trade war between the United States and China may push the global economy into a recession in 2020 are rising, but that outcome is far from a certainty, according to Credit Suisse.Loosening monetary policy by central banks and the likelihood that the US Federal Reserve will cut rates this summer have “pushed back” the possibility of a severe economic downturn, said John Woods, Credit Suisse’s chief investment officer for Asia-Pacific.The bank does not expect a recession… Source link

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Jinjiang gets on the map as China’s sports shoe capital as Anta, Xtep and 361 Degrees snap up global athletic brands

Running through the north of Jinjiang city in Fujian province is Xiedulu, or Shoe Capital Road, an 11.5-kilometre artery that reminds visitors they are in the beating heart of China’s production hub for footwear.Here, a wholesale market covering 10 building blocks is packed with thousands of producers, designers, and vendors selling everything needed to cobble together a pair of shoes, from Velcro straps and laces to rubber soles, pattern printers and presses. Four giant, red characters atop… Source link

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Vietnam 

Gold hits one-year high on global heat – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Customers buy gold at a Phú Quý store. Gold prices at most companies have increased more than VNĐ1 million in the last two days. — VNA/VNS Photo Đức Duy HÀ NỘI — Local gold prices hit a one-year high on Friday as global markets continued to heat up. Most enterprises hiked prices to more than VNĐ39 million (US$1,669) per tael in the morning after spot gold climbed to six-year highs of $1,406 per ounce on the global market (one tael is equivalent to 1.2 ounces). In Việt Nam, the yellow metal slowed in the early afternoon…

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As talk of global recession emerges amid US-China trade war, deal flows and sentiment take a hit

Companies are taking a much more cautious view on mergers and acquisitions this year, particularly when it comes to transactions involving the United States and China, as the world’s two biggest economies square off in an escalating trade war, according to deal advisers.Transaction volumes – and the value of deals – are down, driven by fewer mega deals and increased uncertainty about the global economic outlook, advisers said.According to research and financial data provider Mergermarket, the… Source link

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Vietnam 

Southeast Asia sugar industry discusses strategies as global deficit looms – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The fourth meeting of the ASEAN Sugar Alliance being held in HCM City yesterday by ASEAN Sugar Alliance and TTC Group. — VNS Photo HCM CITY — There will be a global sugar deficit of about 2.5 million tonnes in 2019-20, and prices are expected to harden, the fourth meeting of the ASEAN Sugar Alliance heard in HCM City yesterday. Sasathorn Sanguandeekul, market analyst, futures trading and risk management at Thailand’s MITR Phol Sugar Corp Ltd, said in 2018-19 — the crop starts annually in September — there was a surplus…

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Vietnam 

VN stocks lose again on global uncertainties – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    HÀ NỘI – Vietnamese shares ended Monday on a negative note as market sentiment was weighed down by the unpredictability of both local and international markets. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange fell 0.70 per cent to close at 946.95 points. The VN-Index lost total 0.49 per cent last week. More than 174.3 million shares were traded on the southern exchange, worth VNĐ4 trillion (US$172 million). The stock market is under pressure from several key events this…

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ByteDance poaches from Facebook to power short video app TikTok’s global expansion

ByteDance, the world’s most valuable start-up, has moved to bolster the overseas expansion of popular short-form video app TikTok by hiring a senior executive from social media giant Facebook.The Beijing-based company’s new recruit, Blake Chandlee, has been appointed as TikTok’s head of strategic partnerships. He most recently served as vice-president of global partnerships for more than eight years at Facebook.“I expect Blake Chandlee’s mandate will be to focus on the international expansion… Source link

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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

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