Ecommerce 

Alibaba posts 42 per cent gain in quarterly revenue, defying slowdown in China

Alibaba Group Holding beat estimates to report a 42 per cent revenue increase in the quarter ended June 30 amid signs of strain in China’s economy from the protracted trade war with the US. New York-listed Alibaba on Thursday posted better-than-expected revenue of 114.9 billion yuan (US$16.7 billion) in its fiscal first quarter, up from 80.9 billion yuan a year ago. Net income jumped 145 per cent to 21.3 billion yuan in the same quarter. “Alibaba had a great quarter, expanding our user base… Source link

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Vietnam 

Rubber group sees both revenue and profit rise – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Currently GVR is managing 407,800 hectares of rubber area. The company has 106 subsidiaries and 20 joint venture companies with a total investment value of more than VNĐ37.2 trillion. — Photo cafef.vn HÀ NỘI — The Việt Nam Rubber Industry Group JSC (GVR) reported revenue and post-tax profit of VNĐ7.6 trillion (US$325 million) and VNĐ1 trillion in the first half of this year, up 8.5 per cent and 15.7 per cent year-on-year, respectively. The figures represent 31.4 per cent of the revenue target and 25.5 per cent of the…

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Home 

Huawei first-half revenue surges 23 per cent as China telecoms giant fights off US tech ban impact

Huawei Technologies, the world’s largest telecommunications equipment vendor, said its revenue expanded by 23.2 per cent year-on-year in the first half of 2019, as the company battles the effects of being added to a US trade blacklist since mid-May.The Shenzhen company generated revenue of 401.3 billion yuan (US$58.3 billion) in the first six months of the year, up from 325.7 billion yuan during the same period in 2018, thanks to a sharp jump in smartphone shipments and robust demand for its 5G… Source link

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Vietnam 

Hải Phòng port posts strong revenue growth in first half of 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Hải Phòng Port JSC gained total revenue of VNĐ852 billion (US$36.3 million) in the first half of this year. Photo thanhtra.com.vn HẢI PHÒNG — Hải Phòng Port Joint Stock Company recorded impressive growth in both revenue and cargo output via its seaports in Hải Phòng during the first six months of this year, according to the company. The company, a member of the Việt Nam National Shipping Lines (Vinalines), received total cargo volume of more than 13 million tonnes and gained total revenue of VNĐ852 billion (US$36.3 million) in the…

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Vietnam 

East Rift Valley enters Singapore, Malaysia; New South New Direction of Revenue – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

TAIWAN – Media OutReach – 19 July 2019 – The East Rift Valley National Scenic Area Administration (ERV Administration for short) will lead operators to attend the 2019 International Tourism Fair (MITM Travel Fair 2019) in Johor, Malaysia, from July 19 to 21 to promote Huatung tourism. Johor Bahru Sutera Mall MITM Travel Fair 2019   Kuo Chenling, director of ERV Administration, said that according to the Tourism Bureau, the number of New South’s inbound visitors in 2018 reached 2.28 million, accounting for about 23% of the overall market. In terms of consumption,…

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Vietnam 

Construction firm Coteccons prepares for revenue and profit to fall – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  CTD share closed Thursday down 1.33 per cent to end at VNĐ111,000 per share. — Photo cafef.vn HÀ NỘI — The construction conglomerate Coteccons Construction Joint Stock Company (Coteccons) expects its year revenue to fall 5 per cent year-on-year to VNĐ27 trillion (US$1.2 billion) this year. The company expects profit to decrease by 14 per cent against 2018, at VNĐ1.3 trillion. In the second quarter of 2019, Coteccons’s net revenue hit VNĐ5.8 trillion, down 30 per cent over the same period last year. Cost of goods sold accounted for nearly…

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Vietnam 

Vietnam Airlines Group makes $2.24 billion in revenue – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vietnam Airlines’ Boeing 787-9 Dreamliner. Vietnam Airlines says its consolidated pre-tax profit was estimated at VNĐ1.65 trillion in the first half of this year, up 30 per cent compared to the plan. — Photo Vietnam Airlines HÀ NỘI — Vietnam Airlines Group, listed with code HVN, earned nearly VNĐ52 trillion (US$2.24 billion) in consolidated revenue in the first half of this year, marking a year-on-year increase of 5.5 per cent. The information was released on Tuesday showing that its consolidated pre-tax profit was estimated at VNĐ1.65 trillion, up 30 per cent compared…

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Vietnam 

Budget revenue rises 13 per cent in first half of year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Deputy Prime Minister Vương Đình Huệ  addresses a conference yesterday in Hà Nội, reviewing the performance of the financial sector in the first six months of this year and setting tasks for the second half. — Photo Ministry of Finance   HÀ NỘI — Viet Nam is well on the way to hitting one of its key economic targets for the year. State budget revenue in the first six months of this year hit nearly VNĐ745.4 trillion (US$31.9 billion), up 13.2 per cent over the same period last year…

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Home 

Huawei increased first-half revenue despite US trade ban, chairman says

Huawei Technologies, the world’s largest telecommunications equipment supplier, increased revenue in the first half of this year, despite a US government-imposed trade ban and continued scrutiny overseas about the security of its 5G network products.“Huawei’s entire businesses ran smoothly [since that ban],” said rotating chairman Liang Hua, who declined to provide specific figures, at a press conference in Shenzhen on Friday.The privately held company, which is expected to announce its… Source link

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Vietnam 

Lychee revenue in Bắc Giang reaches 60-year high of US$262.6 million – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Farmers in the northern province of Bắc Giang had a bumper crop with revenue of US$262.6 million. — Photo phapluatplus.vn BẮC GIANG — Farmers in the northern province of Bắc Giang earned revenue of VNĐ6.1 trillion (US$262.6 million) from lychee this year, surpassing records in the past 60 years in terms of value. The total revenue from lychee was VNĐ5 trillion in 2016, VNĐ5.3 trillion in 2017 and VNĐ5.8 trillion in 2018. Farmers in the province have not had to bring their lychee to the market. Traders came to…

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