China 

China’s economic growth unable to boost employment as job market drops to six-year low, says think tank

Despite better-than-expected economic growth in the first quarter, China’s job market performed at its worst level in six years at the start of 2019, according to an industry report published on Friday.The number of jobs seekers normally rises during January to March when many workers look to change jobs and college graduates start looking for career opportunities after their graduation. However, in the first quarter, the number of potential applicants rose to the highest level since 2011 while… Source link

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Shanghai share index rallies to 12-month high following quarterly economic data indicating growth upswing

China’s stocks climbed for a second day, sending the benchmark gauge to a one-year high, as the economy grew at a pace topping analysts’ estimates, strengthening evidence of a firmer recovery in full swing.The Shanghai Composite Index rose 0.3 per cent, or 9.52 points, to 3,263.12 at the close on Wednesday, finishing at the highest level since March 22, 2018. Carmakers paced the gains on expectations that the government will unveil plans that will ease license controls and encourage the… Source link

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Vietnam 

MPOS mobile card payment leads the growth of payment channels in 2018 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The amount of MPOS payment points accounted for 9 per cent in the card acceptance network nationwide. — Photo tapchitaichinh.vn HÀ NỘI — 2018 was the year witnessing the outstanding development of the new payment method via mPOS device. There was 27,500 places accepting payment via mPOS, posting 99 per cent year-on-year increase, according to the Việt Nam Bank Card Association (VNBA). The amount of MPOS payment points accounted for 9 per cent in the card acceptance network nationwide. Data from the VNBA’s annual report in 2018 also showed that…

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Japanese carmaker Nissan’s China growth strategy will remain unchanged in post-Carlos Ghosn era

Nissan Motor expects China’s car market to recover in the second half, as the Japanese carmaker moves on from the scandal surrounding former chairman Carlos Ghosn.Makoto Uchida, senior vice-president of Nissan, said Beijing’s efforts to support the industry, such as subsidies and tax incentives, would effectively result in a turnaround.Uchida said Nissan will not change its China strategy despite the Ghosn distraction and plans to leverage its research and development capability in the country… Source link

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Vietnam 

Credit growth limited at 15% for best banks in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vietcombank was among few banks that met Basel II’s capital safety and risk management standards ahead of schedule. Photo Vietcombank HÀ NỘI The State Bank of Việt Nam (SBV) has assigned a credit growth limit to each commercial bank in 2019, with priority given to those who met Basel II’s capital safety and risk management standards ahead of schedule. According to the current regulation, the SBV sets a credit growth limit for the entire year for each bank – depending on its health – to ensure the credit growth target…

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HSBC warns global growth is slowing, US-China trade war weighing on sentiment

HSBC’s top leaders warned on Friday that global growth is slowing and continuing trade tensions, including a trade war between the US and China, are weighing on economic sentiment.Chief executive John Flint said that “increased uncertainty and risk” in the global economy are related to rising protectionism, questions about the United Kingdom’s exit from the European Union known as Brexit and the future path of interest rates.“This is yet to translate into higher credit losses, but that could… 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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Uber CEO acknowledges self-inflicted wounds as company reveals strong growth, huge losses ahead of listing

Uber is providing a look into its business in the lead-up to its hotly anticipated debut on the stock market, revealing strong growth but an ongoing struggle to overcome huge losses and repair its reputation.Documents released overnight on Thursday offered the most detailed view of the world’s largest ride-hailing service yet. The massive filing shows Uber has been generating the robust revenue growth that entices investors, but also racked up about US$8 billion in losses over its 10 years in… Source link

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Global 

Singapore’s central bank ends tightening cycle as growth slows amid cooling economy

Singapore’s central bank on Friday kept its monetary settings unchanged after two consecutive rounds of tightening, underscoring policymakers’ concerns about a cooling economy and rising risks to the outlook from slackening global demand.The Monetary Authority of Singapore (MAS), which manages policy through exchange rate settings rather than interest rates, said it would maintain the slope of the Singapore dollar’s policy band while keeping the width and level at which the band is centred… Source link

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Vietnam 

Viettel Post plans 36-per-cent growth in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Viettel Post aims to become the No 1 sales enterprise in Việt Nam based on a smart logistics platform by 2024. Photo baolongan.vn HÀ NỘI — Viettel Post, a subsidiary of Viettel Corporation, is aiming for growth of more than 30 per cent across its all business targets for 2019. In a document sent to its shareholders prior to the 2019 annual shareholders’ meeting on Thursday, Viettel Post said it plans total revenue of VNĐ6.7 trillion (US$288.5 million) and net profit of VNĐ380.2 bilion ($16.3 million) in 2019, both up more than 36 per cent over last…

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