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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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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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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Even if Trump and Xi make up at G20 in Buenos Aires, don’t hold your breath for a meaningful market rally

Are US President Donald Trump and his Chinese counterpart about to offer some much-needed relief to financial markets?  The highly anticipated meeting between the two heads of state at the G20 leaders’ summit in Buenos Aires at the end of the week is fuelling speculation that even a temporary ceasefire, or at least a pledge to keep negotiating, could provide a fillip to sentiment at a time when the mood in markets is increasingly bleak. While it has become difficult to untangle the complex web of factors that have contributed…

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Vietnam 

Stock markets recover and hold gains – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Shares managed to recover during Tuesday afternoon trading after sliding in the morning due to global tension and drops on world markets. The benchmark VN-Index on the Ho Chi Minh Stock Exchange was up 0.32 per cent to 919.02 points. The index grew nearly two per cent on Monday to close at 916.06 points. On the Ha Noi Stock Exchange, the HNX-Index slipped 0.04 per cent to end at 103.91 points. It increased 0.91 per cent to end at 103.95 points…

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Apec must hold firmly on to its role as champion of economic globalisation

When the leaders of the Asia-Pacific Economic Cooperation (Apec) forum meet in Port Moresby, Papua New Guinea this weekend, they will be doing so at a time when the global economic landscape is undergoing profound adjustment. Multilateralism and the multilateral trading system are being challenged, and Asia-Pacific economic cooperation is entering a critical stage. Apec, which prospered on economic globalisation, is today a pacesetter of economic cooperation in the Asia-Pacific and beyond. Openness and inclusiveness is its inherent and defining feature. Over the years, guided by the vision spelled out…

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