Vietnam 

Sales of auto down despite of strong discounts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

      An assembly line at Hyundai Thành Công Automobile Factory in northern Ninh Bình Province. — VNA/VNS Photo Thống Nhất     HÀ NỘI — Despite huge reductions in the price of motor vehicles, car dealerships say sales have been unexpectedly slow in recent weeks. Cut price deals, in some cases reductions of tens of millions of đồng during recent holidays, failed to attract the expected amount of buyers. Nissen Vietnam slashed prices by up to VNĐ70 million for buyers of Sunny, Navara, X-Trail and SUV Terra vehicles.…

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Vietnam 

Steel companies post disappointing results in Q1 despite strong market growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Pomina steel products. Pomina reported loss of VNĐ82 billion in the first quarter while it posted more than VNĐ226 billion in the same period of last year. — Photo thepmiennam.net.vn HÀ NỘI – Listed steel companies have reported disappointing business results in the first quarter despite strong growth in the domestic market, which they have attributed to the high cost of capital. According to the Việt Nam Steel Association (VSA), domestic steelmakers produced 5.07 million tonnes in the first four months, registering growth of 37 per cent year-on-year.…

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Home 

Stocks Blog: Tencent, Alibaba report strong earnings, while Trump turns up heat on Huawei

Good day traders — Lots of overnight news for our markets to digest.  Strong earnings from Tencent (700 HK) and Alibaba (BABA US) last night, though a mix in reaction in US markets afterwards. Alibaba closed up 1.6 per cent, while Tencent ADRs (traded under TCEHY) ended down 1.2 per cent. Meanwhile, US President Donald Trump took aim at the battle over the future of 5G, issuing an executive order that means Huawei can’t do business with American companies without special permission.  So,… Source link

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Vietnam 

VN’s private sector: Growing but not strong – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Analyst’s Pick VN’s private economic sector: becoming big but not strong Võ Trí Thành* The Vietnam Private Sector Economic Forum 2019 – an important channel for Government agencies and ministries to identify bottlenecks restricting the development of the private sector and listen to recommendations from the business community – finished last week. But how to make Vietnamese private enterprises grow strongly and sustainably remains an issue that cannot be addressed by just a two-day forum.  Since Resolution No 10 of the Party’s Central Committee on developing the private economy into an important driving force…

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China 

China economy off to strong start in 2019 as stimulus steps offset trade war impact

China’s economy is off to a robust start this year, defying fears of a sharp slowdown, with Beijing’s pro-growth efforts successfully offsetting the effects of the trade war with the United States.China’s gross domestic product (GDP) expanded 6.4 per cent in the first quarter compared a year earlier, the National Bureau of Statistics reported on Wednesday, beating analysts’ expectations of 6.3 per cent growth and remaining at the top end of Beijing’s target growth range of 6.0 to 6.5 per cent… Source link

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Global 

China economy grows faster than expected in first quarter on strong industrial production

China’s economy grew 6.4 per cent in the first quarter compared to a year earlier, the joint-slowest growth rate since quarterly growth records began to be published 27 years ago, according to official figures released on Wednesday, but beating analysts’ expectations.This beat the median forecast of a Bloomberg survey of economists, which predicted gross domestic product (GDP) growth would slow to 6.3 per cent for the quarter.However, it falls within the government’s growth target range of… Source link

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Global 

China’s economy dug out by strong excavator and crane sales, as stimulus kicks in

Sales of excavation equipment in China are booming, suggesting that Beijing’s stimulus package is starting to filter into the economy.The country’s 25 leading excavator makers sold 44,278 units in March, the highest monthly sales on record, according to data from the China Construction Machinery Association (CCMA). This was a 15.7 per cent increase on March 2018 and followed 68.7 per cent growth in February.Excavator sales are widely viewed as a “barometer” of the country’s infrastructure… Source link

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Home 

Uber CEO acknowledges self-inflicted wounds as company reveals strong growth, huge losses ahead of listing

Uber is providing a look into its business in the lead-up to its hotly anticipated debut on the stock market, revealing strong growth but an ongoing struggle to overcome huge losses and repair its reputation.Documents released overnight on Thursday offered the most detailed view of the world’s largest ride-hailing service yet. The massive filing shows Uber has been generating the robust revenue growth that entices investors, but also racked up about US$8 billion in losses over its 10 years in… Source link

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Vietnam 

SMEs’ online trading activities to see strong development – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Online import and export activities of small- and medium-sized enterprises (SMEs) are expected to develop further in the future. – Photo congthuong.vn HÀ NỘI – Online import and export activities of small- and medium-sized enterprises (SMEs) are expected to develop further due to the low number of them currently embracing e-commerce, according to experts. The Việt Nam e-business index report showed that 32 per cent of Việt Nam’s SMEs have established businesses with foreign partners through online channels. Joining B2B (Business to Business) e-commerce…

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Home 

Wary of a strong yuan, China has reason to rue yen and euro weakness

The renminbi might be in for a further period of broad strength but that will be driven as much by the unattractiveness of other currencies as by any inherent allure. Other currencies – though perhaps not the US dollar – just don’t look that appealing.Given Washington’s preoccupation with the US dollar/yuan exchange rate, realpolitik may dictate that a settlement of the US-China trade war will incorporate some subsequent renminbi appreciation versus the greenback. But if that was accompanied by… Source link

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