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Chinese key stock index falls by the most in 10 weeks as central bank refrains from stimulus to arrest economic slowdown

China’s stocks dropped by their most in 10 weeks on concern policymakers were not doing enough to arrest the decline in the nation’s economic growth, while a recent rally of smaller companies was judged to have been excessive. Hong Kong’s benchmark stock index also ended lower.The Shanghai Composite Index sank 1.7 per cent to 2,978.12 at the close on Tuesday, the biggest one-day decline since July 8, while the ChiNext gauge of smaller firms retreated 2.1 per cent. The Hang Seng Index lost 1.2… Source link

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VN central bank makes first key rate cut since 2017 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The State Bank of Việt Nam’s headquarters in Hà Nội. Many key interest rates will be reduced from September 16. Photo SBV  HÀ NỘI The State Bank of Việt Nam (SBV) on Friday announced it would cut several key interest rates by 0.25 percentage points, starting from September 16, to support economic growth. The rate cuts were the first by the SBV since October 2017. Accordingly, the annual refinancing rate and rediscount rate will be lowered from 6.25 per cent to 6 per cent, and from 4.25 per…

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Customer experiences, convenience key in digital era – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A discussion panel at a conference on providing better customer experiences held yesterday (September 13) in HCM City. VNS Photo Việt Dũng     HCM City – Businesses need to focus more on customer experiences and providing convenience to consumers in the digital era, experts said at a conference held in HCM City yesterday. Nguyễn Dương, founder of CEM Partner, which provides consultancy and training on customer experiences, said that before businesses decide on strategies and technologies, they should first identify what kind of experience they would like to deliver and what kind…

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Social unrest won’t stop Hong Kong playing a key role in China’s belt and road strategy, say business leaders

Allan Zeman (second left), chairman of Lan Kwai Fong Group, Witman Hung (second right), principal liaison officer for Hong Kong at the Shenzhen Qianhai Authority and Tony Verb (right), co-founder and partner at GreaterBay Venture & Advisors, take part in a panel discussion titled ‘The competition conundrum’, at the South China Morning Post’s China Conference, on Wednesday. Photo: May Tse Source link

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Oil-gas cooperation key to Việt Nam– Russia ties: officials – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Deputy Prime Minister Trịnh Đình Dũng and his Russian counterpart Maxim Akimov at the meeting in Vladivostok. — VNA/VNS Photo Dương Trí VLADIVOSTOK — Deputy Prime Minister Trịnh Đình Dũng and his Russian counterpart Maxim Akimov agreed that oil and gas cooperation bears strategic significance to Việt Nam – Russia relations at their meeting on Thursday on the sidelines of the ongoing 5th Eastern Economic Forum (EEF).  The two officials took the occasion to exchange their opinions on the implementation of the two countries’ joint projects and agreements. They shared…

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HSBC says blockchain could ease small firms’ financing woes, with Greater Bay Area key to success

A broader adoption of blockchain technology could open up more financing for small and medium-sized businesses seeking to export goods, particularly in the Greater Bay Area, according to HSBC’s head of global trade for Asia.Ajay Sharma, regional head of global trade and receivables finance, HSBC Asia-Pacific, said obtaining letters of credit, in which banks guarantee payments in a transaction, has been difficult for small businesses in the past. A lot of paper had to be exchanged between… Source link

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China has taken a key step towards interest rate and monetary system reform, but caution will rule

The People’s Bank of China (PBOC) is pushing banks to link lending rates to its loan prime rate, an important move towards refining the country’s monetary system and unifying the dual-track interest rate regime.China has long had two tracks of interest rates. One track, consisting of money market rates and long-term bond yields, generally moves in line with market forces but could be influenced by the central bank’s open-market operations and monetary policy communication. The other track… Source link

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Vietnam 

Enterprises see SDGs as key to growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Farmers harvest tea at a tea plantation in northern Thái Nguyên Province. Moving toward green and clean production has been identified by many as a strategic objective as Vietnamese enterprises strive to integrate into the global economy. — Photo cheviet.vn HÀ NỘI — Sustainable development remains a key focus for Vietnamese enterprises in the years to come, according to a recent survey conducted by the Ministry of Planning and Investment (MPI). According to the ministry, the country’s business sector is to play an important role in whether Việt Nam…

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Bến Tre seeks to boost exports of key farm produce – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A rambutan orchard in Bến Tre. The province is seeking to boost export of its fruits, especially to China. — VNA/VNS Photo HCM CITY — China has high demand for fruits but new measures are needed to encourage Vietnamese exporters to export their fruits officially to China rather than through border trade, a seminar heard in Bến Tre Province on Wednesday. According to the Bến Tre Department of Agricultural and Rural Development, the province has more than 28,000ha under fruits and grows over 300,000 tonnes of various fruits annually.…

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US Fed cuts key interest rate to ‘insure’ against global uncertainties – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  U.S. dollar banknotes in Washington DC, the United States. US Federal Reserve on Wednesday lowered interest rates for the first time since the 2008 global financial crisis, amid rising concerns over trade tensions, a slowing global economy and muted inflation pressures. — Xinhua/VNA Photo WASHINGTON — The US Federal Reserve, under intense pressure from President Donald Trump to stimulate the economy, yesterday cut the benchmark interest rate for the first time in more than a decade but struggled to justify the move or explain where it goes next. The move…

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