Vietnam 

Grab cars must have roof signs: draft – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Cars which provided passenger transportation services via ride-hailing platforms like Grab will have to have roof signs showing that they were “contract vehicles”.  – Photo baogiaothong.vn   HÀ NỘI — Cars which provide passenger transportation services via ride-hailing platforms like Grab will have to have roof signs showing that they were “contract vehicles”. This was a highlight in the latest version of the draft decree on automobile transportation businesses, replacing Decree 86/2014/NĐ-CP, which the Ministry of Transport recently submitted to the Government. The ministry said that it wanted to create a…

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China data expected to show signs of economic stabilisation

While data due Wednesday is set to show the world’s number two economy slowed in the first quarter to an annual pace of 6.3 per cent, monthly readings of retail sales, investment and industrial output will be scrutinised for signs of renewed health.Analysts from banks including HSBC Holdings and Goldman Sachs are among those expressing increasing confidence in the Chinese outlook. Corporate tax cuts, an upswing in manufacturing and expected progress on a US trade deal are among the factors… Source link

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Vietnam 

Unprofitable State projects show signs of recovery – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Ministry of Industry and Trade (MoIT) has reported some positive signs in the handling of 12 major State-owned projects that have long reported losses, as some have managed to resume operations after suspensions or even record profits. The information was released at a working session chaired by Deputy Prime Minister Vương Đình Huệ with representatives of the ministry and the projects’ investors in Hà Nội on Wednesday. A report from the ministry showed that two of the projects managed to recover…

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Through Brexit and signs of China’s slowdown, investors have kept their cool – but it can’t last

During the introductory statement for his last press conference in January, European Central Bank President Mario Draghi’s most picked-up sound bite was that “the risks surrounding the euro-area growth outlook have moved to the downside on account of the persistence of uncertainties”. Indeed, what he stated about the euro zone can be repeated for the world at large. The International Monetary Fund sang from the same hymn sheet when updating its World Economic Outlook in January, citing “high… Source link

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Singapore 

Singtel signs deal to expand mobile wallet alliance to Japan, Singapore News

SINGAPORE – Singapore Telecommunications Ltd said on Monday it has signed a partnership to enable the use of its cross-border mobile wallet platform in Japan, as the telecom operator moves ahead with its digital payments expansion. The partnership with NETSTARS, a Tokyo-based mobile payment technology company, will allow travellers to use their home mobile wallets on Singtel’s VIA network to pay digitally at stores in Japan – a popular destination for Southeast Asians. Singtel, Southeast Asia’s largest telecom operator, is keen to expand beyond its traditional carrier services into areas…

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Morgan Stanley says Chinese stocks are showing no signs of overheating that could result in repeat of 2015 sell-off

Chinese stocks’ world-beating rally has still some way to go and a repeat of the 2015 meltdown that wiped out US$5 trillion in market capitalisation is highly unlikely, according to Morgan Stanley research released on Wednesday.Analysts at the US investment bank, led by Laura Wang, based the argument on a newly introduced aggregate gauge of nine metrics for the Chinese market, including trading values, new account openings and the number of stocks hitting daily limits.Measured on a 0-100 scale,… Source link

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Vietnam 

Vinaconex signs MoU with Singaporean firm – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The signing ceremony between representatives of Vinaconex and Singapore’s CPG International on Tuesday in Hà Nội. – VNA/VNS Photo Thu Hằng Viet Nam News HÀ NỘI — Việt Nam Construction and Import-Export Joint Stock Corporation (Vinaconex) on Tuesday signed a memorandum of understanding to develop new projects with CPG International, a member of Singapore’s CPG Corporation. CPG Group becomes the first foreign partner with which Vinaconex has signed a co-operation since the Vietnamese construction firm was privatised in 2016. At the signing ceremony, Vinaconex and CPG International…

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China’s stocks take just 32 days to enter bull market as Morgan Stanley and Goldman Sachs see no signs to sell

It took just 32 trading days for China stocks – the world’s worst performers last year – to gallop into bull territory. Global investment banks say this bull still has room to run.After struggling with a 25 per cent dive in 2018, the benchmark Shanghai Composite Index has surprised global investors with a dramatic comeback.Its 20 per cent rise through Monday from a January low ushered in the technical entry of the bull market.The rally is exhibiting some signs akin to a major crash in 2015,… Source link

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Vietnam 

Sacombank signs up PwC to create asset-liability management framework – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

PwC Vietnam and Sacombank sign an agreement in HCM City on Tuesday. — Photo courtesy of Sacombank Viet Nam News HCM CITY — Sacombank has hired PwC Vietnam to help upgrade its asset-liability management framework. This is expected to help the bank manage liquidity risk and interest rate risk by identifying risk thresholds scientifically, clearly and optimally, build a liquidity risk management framework to maintain adequate liquidity ensuring the bank operates safely and continuously in all possible situations and developing models to improve the quality of asset-liability management.…

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The SFC throws in the towel on Central rents, signs on for new office space at One Island East

The Securities and Futures Commission (SFC) plans to move out of its Central office to save on rental costs as it forecasts a deficit of HK$230 million (US$29.3 million) for the year ahead. The city’s securities regulator has taken out an eight-year lease in Swire Properties’ One Island East in Quarry Bay. The move, set to take place under a lease beginning in January 2020, would likely reduce office rental costs for the regulator by about half, according to an agenda published online by the Legislative Council on Tuesday. The…

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