Vietnam 

Leading US firms to hold talks in Ha Noi – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A GE factory in the northern port city of Hải Phòng. – Photo baodautu.vn Viet Nam News HÀ NỘI — More than 50 leading US companies from a wide range of industries would arrive in Hà Nội on Tuesday to explore business opportunities, the US-ASEAN Business Council has announced. These firms include Google, Apple, Microsoft, Coca-Cola, ExxonMobil, GE, Ford, MasterCard, Qualcomm, IBM, JP Morgan, Syngenta, AstraZeneca and Pfizer. Arriving on the heels of the 2nd DPRK-USA Summit in Hà Nội where US President Donald Trump praised Việt Nam as thriving like few places on Earth, it will…

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China 

China growth to slow to 2 per cent over next decade as structural issues take hold, research firm says

China’s economic growth will slow to 2 per cent in the coming decade, well below the level forecast by major global institutions, according to research from Capital Economics, as the country becomes “another normal emerging economy.”“Growth has halved over this past 10 years, and our projection is if they continue with this policy set-up [and structural issues], growth will halve again over the next 10 years,” Mark Williams, chief Asia economist for the research firm, said at a conference in… Source link

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Home 

Does the yuan hold the key to an uninterrupted rally in China’s stock market this year?

As Chinese equity benchmarks entered a bull market this week, the yuan too strengthened to a seven-month high against the dollar. Now investors are sizing up the impact of the yuan’s appreciation on the fate of A shares this year.The trend of a weakening dollar is traditionally viewed as favourable to Asian emerging market equities. In fact, various banks and asset managers had already made calls last year on the dollar peaking in 2019.The yuan exchange rate has assumed greater significance… Source link

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Vietnam 

Hà Nội to hold conference on investment, tourism promotion with Japan – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The annual Cherry Blossom Festival in Hà Nội is one of the activities promoting investment and tourism between Hà Nội and Japan.— Photo: hanoimoi.com.vn Viet Nam News HÀ NỘI — Hà Nội will host a conference to promote investment and tourism co-operation between Hà Nội and Japan on March 29, according to the city’s People’s Committee. This year’s conference is expected to attract representatives from more than 200 businesses, including around 120 delegates from Japan. During the conference, Hà Nội’s authorities will give an overview of the…

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Vietnam 

Banks hold auctions to cut bad debts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Agribank headquarters in Hà Nội. Agribank AMC will hold an auction on February 27 to sell assets from Đại Việt Company. – VNA/VNS Photo Viet Nam News HÀ NỘI – Some banks are putting assets secured with non-performing loans worth hundreds of billions of Vietnamese đồng up for auction in the first days of the Lunar New Year to speed up the resolution of bad debts. Most non-performing loans (NPLs) are attached to assets borrowers bought or created thanks to these loans, including real estate, factories, enterprises, industrial clusters and…

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Home 

Hong Kong stocks fall, China opens flat as investors hold fire ahead of trade war truce deadline

China’s benchmark stock indexes were trading flat on Tuesday morning after starting the Lunar New Year strong on Monday, while Hong Kong shares opened lower. Traders said that after the rebound enjoyed by both the China and Hong Kong bourses so far this year, investors had recoiled from making further big bets ahead of news from US-China trade negotiations in Beijing later this week. The Hang Seng Index opened down 0.41 per cent, or 115.2 points, at 28,028.66. “The Hang Seng Index has risen by as much as 3,000 points…

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China 

China quietly cuts borrowing costs while keeping rates on hold

The People’s Bank of China (PBOC) has been quietly guiding interbank borrowing costs down without actually cutting official interest rates, with the latest move a record one-day injection of cash into the market. The central bank pumped a net 560 billion yuan (US$83 billion) into the financial system on Wednesday, the biggest open market operation on record. While that action was mostly aimed at addressing a funding shortage ahead of Lunar New Year, it also speaks to a policy priority for the PBOC – providing cheaper funding to banks to…

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Home 

Recessions never happen when they’re expected, so investors should hold their nerve

Another week, another batch of bleak data fuelling fears in financial markets that the global economy is likely to slip into recession sometime next year.  On Tuesday, Germany’s Federal Statistics Office announced that industrial production in Europe’s largest economy contracted in November by 4.7 per cent year-on-year, the sharpest fall since 2009 and the latest in a string of weak data that has increased the risk Germany suffered a technical recession – two straight quarters of negative output – in the second-half of 2018. Other leading economies in Europe are…

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Home 

HNA’s US$41 million loss the latest price paid by Chinese firms for Trump’s choke hold on China

The Chinese conglomerate HNA Group said on Wednesday it has sold its majority stake in a Manhattan office building, a deal which led to US$41 million in losses for HNA and its US partners. HNA did not want to sell the mid-Manhattan property – 850 Third Avenue – that it bought little more than two years ago and had used as its US headquarters. But it did not have a choice. A few months following the purchase in 2016, the building suddenly became a national security concern to the US…

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Home 

Debt-ridden music retail giant HMV likely to hold Hong Kong’s biggest liquidation sale in a decade

Debt-ridden music giant HMV is likely to opt for the biggest liquidation sale in a decade in Hong Kong when it meets with creditors on Thursday, according to experts. “For a big retail music chain like HMV which has a big stock of CDs, DVDs, audio equipment and lifestyle products, the most likely option is to have a big liquidation sale day to sell the outstanding stock at a heavily discounted price,” said Mat Ng, managing director of JLA-Asia, a veteran liquidation expert. HMV Digital China Group, owner of the…

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