Vietnam 

Banks allowed to expand network size in New Year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Customers make transactions at a LienVietPostBank office in Hà Nội. – Photo LienVietPostBank Viet Nam News Bắc Á Bank has been given permission to open seven transaction offices and four branches in Thái Nguyên, Bắc Giang, Hà Nam, Lâm Đồng, Lạng Sơn, Hà Giang, Long An and Bình Định. In the last quarter of 2018, the bank also gained approval to open five branches and 30 transaction offices across the country. On February 14, SBV Governor Lê Minh Hưng also permitted LienVietPostBank to open five transaction offices…

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Vietnam 

Pepper output to reach 200,000 tonnes this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A farmer in the southern Đồng Nai Province harvests pepper. — VNA/VNS Photo Viet Nam News HÀ NỘI — Việt Nam’s pepper output this year would reach around 200,000 tonnes, according to the International Pepper Community (IPC). Output of black pepper was forecast at 175,000 tonnes, while the remainder would be white pepper. The IPC also predicted the pepper output of the world’s biggest exporters such as Việt Nam, Brazil, Indonesia and India in 2019 would be lower than last year. The Import-Export Department under the…

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China new home sales decline by 56 per cent during Lunar New Year holiday

New homes sales declined by 56 per cent year on year in 17 major mainland China cities, including Shanghai and Nanjing, during the Lunar New Year holiday, in a sign that does not bode well for a sector already weighed down by a bearish outlook and concerns about a slowing economy. According to a research note released on Tuesday by investment bank China International Capital Corporation, Beijing’s easing stance on the overall economy boosted market sentiment in the beginning of 2019, but sales data from sample cities and developers shows…

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Middle-aged Chinese tourists lead use of mobile payments abroad during Lunar New Year holiday

Middle-aged Chinese travellers were the country’s biggest spenders abroad during the recent Lunar New Year holiday, as these older tourists led the use of mobile payments to go shopping overseas, according to an Alipay study. That finding, drawn from the more than 40 markets where Alipay is accepted, covered two groups who used the popular mobile payments platform: those born in the period 1960 to 1969 and 1970 to 1979. They were “the main driving force in outbound tourism and overseas consumption”, according to the report from Alipay, a unit…

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China’s Lunar New Year spending growth slows to decade low despite record US$148.96 billion sales

Sales growth in China during the seven-day Lunar New Year Holiday slowed to the lowest rate in a decade this month, questioning if the government can unleash the country’s domestic growth potential to counter the slowdown in the economy. National retail and catering revenue rose 8.5 per cent during the holiday to 1.005 trillion yuan (US$148.96 billion), the Ministry of Commerce said on Sunday. But even though the overall sales figure reached a record high, the growth rate fell from the 10.2 per cent witnessed last year to the lowest…

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Increase in Lunar New Year tourism, revenue fails to boost stocks on first trading day in mainland China

A 7.6 per cent year-on-year increase in domestic tourism during the Lunar New Year holiday failed to boost stocks on the first day of trading in the Year of the Pig in mainland China. The benchmark Shanghai Composite Index opened flat on Monday, while the Shenzhen Component Index opened higher, as the US-China trade talks continued to weigh on the market. On Sunday, the official Xinhua news agency reported strong growth in domestic and international travel and spending over the week-long holiday, with border crossings in and out of China…

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Vietnam 

Việt Nam to see $2.4b in tra fish exports this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — The Việt Nam Association of Seafood Exporters and Producers (VASEP) has predicted the export value of tra fish will reach US$2.4 billion this year, up from $2.3 billion last year. According to economic experts, this number is feasible because the US-China trade is impacting many economies, including Việt Nam, but has had a positive impact on some export products. The tra fish industry is poised to benefit from increasing Chinese demand for seafood products. When the Việt Nam-European Union (EU) free…

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Shares in telecoms giant China Tower rise as IPO lock-up period ends. But will it be the exception or the rule this year?

The lock-up period for shares held by cornerstone investors in China Tower, the world’s largest telecoms tower operator, expired on Friday. The Beijing-based company listed in Hong Kong for HK$54.3 billion (US$6.9 billion) in August, making it the city’s largest initial public offering in 2018. Its 10 cornerstone investors, which include Hillhouse Capital, Och-Ziff Capital Management Group and Alibaba Group Holding, which owns the South China Morning Post, bought a combined US$1.4 billion worth of shares during its flotation, according to Bloomberg. Xiaomi stock suffers two-day plunge as chairman Lei…

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It’s party time as the Year of the Pig is welcomed in at the Hong Kong stock exchange

The Year of the Pig got off to a boisterous start at the Hong Kong stock exchange, as colourful lion dancers chased away evil spirits and the God of Wealth – wearing a pig mask – hopped about on the stage in rhythm with cheerful claps and banging drums and cymbals. “Such loud claps show everyone will be lucky and prosperous,” an entertainer told the cheerful crowd in Cantonese. The festivities on Friday marked the first day of trading in Hong Kong’s market in the Chinese New Year. The previous…

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Vietnam 

Many businesses reopen on 2nd day of Lunar New Year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM City — Many trade centres, supermarkets and traditional markets in HCM City reopened on Wednesday, the second day of the Lunar New Year.   The Saigon Coop and Saigon Trading Corporation (SATRA) retail network, which covers StraMart, Strafood and CelltreMall, were among businesses to open their chains soonest during the holiday.   From now until Saturday, the Co.opmart supermarket system will open from 8am to 12pm and return to normal operating hours on Sunday. CoopXtra will present lucky money to customers who spend…

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