Vietnam 

Vinafood 2 eyes higher revenue – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  This year, Vinafood 2 plans to invest VNĐ106 billion in basic constructions to serve production and business. — Photo vietstock.vn HÀ NỘI — Việt Nam Southern Food Corporation (Vinafood 2) has set 2019’s revenue at nearly VNĐ21.29 trillion (US$913.73 million), a year-on-year increase of 19 per cent. The company also plans no dividend payout for 2019 to compensate for losses in 2018. The information was revealed in documents for 2019’s annual shareholders’ meeting, which will be held on June 25. This year, Vinafood 2 plans to invest VNĐ106 billion in…

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Foreign start-ups eye China’s vast digital health care market, but finding the right revenue model holds the key to success

Digital therapeutics and smart medical management, an emerging field in the health care industry, is attracting some foreign companies to China, which has the potential to improve the lives of people living with chronic conditions and reduce their medical bills.“In China, digital technology will play a massive role in patient outcomes and health care costs,” said Celina Chew, German life science company Bayer’s president for Greater China.While China’s market potential is huge in chronic… Source link

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Alibaba projects 500 billion yuan in annual revenue amid escalation in US-China trade war

Chinese e-commerce giant Alibaba Group Holding projected annual revenue will surpass 500 billion yuan (US$72.7 billion) this financial year, despite a trade war between the US and China. The New York-listed company said its revenue rose 39 per cent to 376.8 billion yuan (US$54.7 billion) for the 12-month period ended March, excluding newly consolidated revenues, according to a company statement. Non-GAAP net income, which excludes valuation gains, was 93.4 billion yuan. “More and more,… Source link

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Wynn Resorts looks for Macau rebound in 2020 after quarterly revenue slips 3.7 per cent

Wynn Resorts, which has a 72 per cent stake in Hong Kong-listed Wynn Macau, reported operating revenues softened to US$1.65 billion for the first quarter of 2019, a decrease of 3.7 per cent, or US$64.0 million, from US$1.72 billion for the first quarter of 2018.Wynn has two Macau properties, Wynn Macau in the Macau peninsula and Wynn Cotai in the Cotai strip. Operating revenues increased US$60.8 million at Wynn Palace and decreased US$94.4 million at Wynn Macau.Wynn’s Las Vegas operations saw a… Source link

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Ecommerce 

Chinese tech giants Tencent, Baidu and JD.com spend more to find new revenue sources amid slowing growth

Three of China’s biggest tech companies are expected to report that they ramped up or broadly maintained their pace of quarterly spending to develop new technology and push into relatively new markets, as current growth drivers stall.Used to rapid growth rates until recently, Chinese tech giants including Tencent and Baidu are seeking new revenue streams. But that has not come cheap as they shell out more to hire the best in a competitive job market and keep spending to attract customers in a… Source link

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Vietnam 

State budget revenue in January to April period up 13.9 per cent – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  January – April budget revenue was up nearly 14 per cent, running a surplus. — Photo vneconomy.vn HÀ NỘI – State budget revenue in the January-April period was estimated at VNĐ517.8 trillion (US$22 billion), equivalent to 36.7 per cent of the Government’s planned figure for the year and up 13.9 per cent over the same period last year, according to the latest report from the Ministry of Finance. Domestic revenue totalled VNĐ424.96 trillion, or 36.2 per cent of the year’s plan. Revenue from crude oil was estimated at VNĐ18.3 trillion, a…

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Vietnam 

Bảo Việt revenue up 19% in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Bảo Việt reported after-tax profit of more than VNĐ455 billion in the first quarter, a year-on-year decrease of 10 per cent. — Photo plo.vn HÀ NỘI — Bảo Việt Group posted nearly VNĐ8.1 trillion (US$348 million) in insurance revenue in the first quarter of 2019, a year-on-year increase of 19 per cent. Life insurance rose by nearly 20 per cent, reaching over VNĐ5.53 trillion. Non-life insurance premiums brought in approximately VNĐ2.67 trillion, up 10.5 per cent. Total direct spending by the insurance business reached more than VNĐ7.33 trillion, a decrease…

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Macau casino revenue, weighed down by sluggish Chinese economy, hits three-year low

Macau casino revenue fell the most in about three years as China’s sluggish economy continued its chilling effect on high-end customers. Analysts, however, believe the world’s largest gaming hub has seen the worst of the recent slowdown.Gross gaming revenue for Macau casino operators was 23.6 billion patacas (US$2.9 billion) in April, down 8.3 per cent from a year earlier, according to data from the Gaming Inspection and Coordination Bureau. That was roughly in line with a median analyst… Source link

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Vietnam 

Viettel posts $2.34 billion revenue in Q1 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    The boom of 4G and increasing use of mobile data have contributed to the positive business results. — VNS Photo        HÀ NỘI — Viettel Group posted revenue of VNĐ54.4 trillion (US$2.34 billion) and integrated profit of VNĐ10.1 trillion in the first quarter of this year, representing 107 per cent and 116 per cent year-on-year increases respectively. The group said the boom of 4G and increasing use of mobile data contributed to the success. Statistics from the Ministry of Information and Communications showed Viettel signed up about 1 million new 4G subscribers a month…

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Vietnam 

Top 10 Sao Khuê awards winners post US$111 million revenue – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The total revenue of top 10 firms receiving Sao Khuê Awards this year reached VNĐ2.6 trillion (US$111 million). — Photo hanoimoi.vn HÀ NỘI — The total revenue of top 10 firms receiving Sao Khuê Awards this year reached VNĐ2.6 trillion (US$111 million). The information was announced at the award ceremony organised by the Việt Nam Software and IT Services Association (VINASA) held in Hà Nội on Sunday. The awards received 134 nominations from 96 enterprises, representing 35 per cent year-on-year increase with 30 from businesses using new technology. After the…

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