Vietnam’s rice exports hit 5.2 million tonnes in ten months Vietnam shipped abroad 264,000 tonnes of rice in October this year for 136 million USD, pushing the total figures so far this year to 5.2 million tonnes worth 2.6 billion USD, up 1.7 and 14.1 percent year-on-year. China remained the leading importer of Vietnamese rice with a growth rate of 24 percent. Strong rises were also seen in many other markets, such as Indonesia, Iraq, the Philippines, and Malaysia. Average rice prices in the first nine months of 2018 reached 503 USD per tonne, up 13.7 percent year-on-year. The highest price was recorded for Jasmine rice with 575 USD per tonne, followed by Japonica with 526 USD per tonne. The export of medium- and high-quality rice increased, while that of low quality types reduced, now accounting for just 2 percent of the total export volume. [Video: Vietnamese rice now top quality on the international market] On October 18 this year, the Philippines closed its bidding and … [Read more...] about BUSINESS NEWS IN BRIEF 11/11
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Vietnam to host F1 race in 2020: official
The decision will make Vietnam the third Southeast Asian nation to welcome top-flight racing as the franchise seeks to move into new markets. The race will be hosted in the capital Hanoi, with the circuit set to be unveiled at a gala next week, the Hanoi People's Committee said Thursday in an invite to the event. "The city of Hanoi managed to conclude the cooperation to be entitled as the official host of a race of the FIA Formula 1 World Championship (from) April 2020," the letter read. Authorities said earlier this year they supported the idea of hosting a race, but would not dip into government coffers to pay for the event. Mai Tien Dung, head of the government office, said in August that he hoped costs could instead be covered by potentially "huge" advertising revenues. Officials had originally considered hosting the race around Hanoi's scenic Hoan Kiem Lake near the bustling Old Quarter, but decided instead on a route near the national stadium, where the roads are wider. Formula … [Read more...] about Vietnam to host F1 race in 2020: official
EU builds ties with Asia in face of US protectionism
EU's High representative for foreign affairs and security policy Federica Mogherini answers journalists' questions at the European Council in Brussels. (JOHN THYS/AFP) European leaders sought to build support from Asia on Thursday (Oct 18) in defence of free trade and the fight against climate change, to counter the growing protectionism of President Donald Trump's America. The 28 EU states were joined at a summit in Brussels by more than 20 Asian leaders including Chinese Premier Li Keqiang, Japan's Shinzo Abe and South Korean President Moon Jae-in. Russia's Prime Minister Dmitry Medvedev is also attending, despite tensions over Moscow's alleged cyber attacks on international institutions and European democracy. Amid bitter tariff disputes with Washington, the leaders are expected to use the two days of talks to give their backing to the global trading system based on the World Trade Organisation (WTO). "To those who prefer quick fixes without clear rules I say it's not worth it. A … [Read more...] about EU builds ties with Asia in face of US protectionism
BUSINESS NEWS IN BRIEF 20/8
Deutsche Bank appoints new chief country officer for Vietnam Deutsche Bank has just announced the appointment of Hans-Dieter Holtzmann (49) as chief country officer and head of Global Transaction Banking (GTB) in Vietnam, effective from August 16, 2018. In his capacity as chief country officer, Holtzmann will report to Werner Steinmueller, member of the Management Board and APAC Head of Deutsche Bank, and in his GTB capacity, to Kaushik Shaparia, head of Global Subsidiary Coverage, GTB Foreign Exchange and Corporate Cash Management for Asia. Announcing the appointment, Steinmueller said, “We are pleased to have a colleague of Hans-Dieter’s caliber in this role. As one of our key markets in Southeast Asia, our Vietnamese franchise has shown profitable growth and we are excited about the country’s outlook. This is why last year we significantly increased our capital base in this market, providing the bank with more resources to support our clients’ … [Read more...] about BUSINESS NEWS IN BRIEF 20/8