Vietnam 

City to stabilise market prices following hikes in gasoline and electricity prices  – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A customer shops at a supermarket in HCM City. The city aims to stabilise market prices after recent electricity and gasoline price hikes. — VNA/VNS Photo Mạnh Linh HCM CITY — HCM City’s Department of Industry and Trade has pledged to help businesses stabilise market prices following hikes in gasoline and electricity prices.  The price of consumer goods in the city in April rose slightly compared to the previous month, with food prices rising by 0.1 per cent and rice products increasing by 0.6 per cent compared to the…

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Vietnam 

Ministries urged to allow use of State budget for banks’ capital hikes – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    VietinBank is under great pressure to hike capital to satisfy Basel II standards. – Photo VietinBank     HÀ NỘI – The State Bank of Việt Nam (SBV) has continued to urge relevant ministries to revise legal frameworks in order to allow large State-owned commercial banks to use the State budget for their capital increases. Under a report sent to the National Assembly late last month, the central bank proposed the Ministry of Finance, in conjunction with the Ministry of Planning and Investment, study and revise Decree No. 32/2018 NĐ-CP…

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Vietnam 

Fuel price hikes create pressure but CPI under control – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Giáp Bát Bus Station. Recent petrol price hikes were putting pressure on consumer prices.  VNA/VNS Photo Quang Quyết     HÀ NỘI – Petrol price hikes in April were putting pressure on prices but the consumer price index (CPI) was still under the control, according to the General Statistics Office (GSO). Petrol prices rose twice in April, adding altogether VNĐ2,500 per litre (US$0.11), equivalent to 14 per cent, to VNĐ19,703 for petrol E5 RON92 and VNĐ21,235 for petrol RON 95. Coupled…

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Vietnam 

Đà Nẵng tightens land management to combat price hikes – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The city of Đà Nẵng has issued a document requesting the management and supervision of real estate brokerages and land transactions be enhanced to prevent unusual price hikes caused by the spread of false information. Individuals and organisations found to have fabricated rumours regarding development projects would be strictly punished, Đà Nẵng Standing Party Committee said. Việt Nam News Agency reported that false rumours disseminated by brokers contributed to hugely inflated land prices in the central city recently. Real estate…

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Home 

Tariff hikes won’t affect US, which is poised for longest period of economic growth since 1785, says Indosuez economist

The United States, the world’s largest economy, is poised to see its longest period of economic growth since 1785, if there is no recession through July this year, according to Marie Owens Thomsen, global head of investment intelligence at Indosuez Wealth Management, the private banking arm of French financial services firm Credit Agricole Group. Tariff hikes from its trade war with China are unlikely to tip its economy into recession, as long as its trading volume keeps growing, she said. The previous longest US expansion was 120 months long, between…

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Fed leaves rates unchanged, will be ‘patient’ on future hikes

The Federal Reserve held interest rates steady on Wednesday but said it would be patient in lifting borrowing costs further this year as it pointed to rising uncertainty about the US economic outlook. While the Fed said continued US economic and job growth were still “the most likely outcomes”, it removed language from its December policy statement that risks to the outlook were “roughly balanced” and struck language that projected “some further” rate hikes would be appropriate in 2019. In a separate release from its policy statement, the US central…

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Property 

Buoyed by easing, expected end to Fed rate hikes, China developers issue US$8.6 billion in offshore bonds

Top mainland Chinese property developers are flocking to the offshore bond market to capitalise on a recovery in investors’ appetite. About 14 companies, including big guns Country Garden and Evergrande China, have already issued bonds worth US$8.6 billion this year, more than doubling the amount for January 2018, according to Chinese financial data provider Wind Information. Country Garden, China’s top developer by sales, issued bonds worth US$1 billion in January, with maturity ranging from three to five years and yields ranging from 7.125 per cent to 8 per cent. Evergrande,…

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Vietnam 

HCMC avoiding Tết price hikes – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — HCM City will strive to ensure there are no increases in the prices of essential products during Tết (the Lunar New Year) in early February, according to the city People’s Committee. Speaking at a meeting on Monday with the Ministry of Industry and Trade on keep prices steady during Tết , Lê Thanh Liêm, deputy chairman of the People’s Committee, said the city would co-ordinate with the ministry to achieve this. Deputy Minister of Industry and Trade Đỗ Thắng Hải said the city…

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Why Federal Reserve rate hikes and US market fundamentals should cheer bearish investors

After a horrendous year in financial markets, with nearly every major asset class delivering losses, investors deserved a Santa Claus rally.  While there are still several more trading sessions left this year, the Christmas feel-good factor is conspicuously absent in equity markets. According to data from Bloomberg, the benchmark S&P 500 index is on course for its second-worst December on record and remains firmly in correction territory, typically defined as a drop of 10 per cent or more from a recent high. Other major equity indices, notably in Japan, continue…

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Home 

China and Hong Kong stocks buck US rally as trade talk, economic outlook worries outweigh Fed’s dovish tone on rate hikes

China and Hong Kong stocks both dropped on Thursday, as doubts on the progress of the trade talks overturned the optimism from a day earlier and concerns about the strength of the mainland’s economic growth offset the dovish tone by the Federal Reserve on the prospect of interest rate increases. The Shanghai Composite Index slid 1.3 per cent and the Hang Seng Index lost 0.9 per cent. The declines bucked gains on major benchmarks elsewhere in Asia that took cues from a rally in US equities on Wednesday. US stocks…

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