GLOBAL GROWTH FORECASTS The 3.3 percent projection for 2019 is 0.3 percentage point below the 2018 figure, followed by an expected return to 3.6 percent in 2020. Growth rate projections for advanced economies are 1.8 percent for 2019 and 1.7 percent for 2020, both below the 2 percent-plus rates recorded in the previous two years, according to the WEO report. For emerging market and developing economies, the IMF predicted a growth rate down to 4.4 percent for 2019, 0.1 percentage point lower than in 2018, and that expansion will rebound to a rate of 4.8 percent in 2020, leveling the 2017 outcome. IMF chief economist Gita Gopinath wrote in a blog post that the projected slowdown in 2019 is "broad-based." "It reflects negative revisions for several major economies including the euro area, Latin America, the United States, the United Kingdom, Canada, and Australia," Gopinath said. The loss of growth momentum, said Gopinath, dates back to the second half of 2018, when the world economy was … [Read more...] about Spotlight: IMF lowers global growth forecast for 2019, warns of downside risks – Xinhua
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BUSINESS NEWS IN BRIEF 24/3
Microsoft and SAP promote co-operation Microsoft Viet Nam and SAP announced their partnership. Microsoft Viet Nam and SAP – one of the global leaders in enterprise software – on Friday announced a strategic partnership. This mutual collaboration aims to propel Viet Nam’s Industry 4.0 by providing integrated offerings from both companies for enterprise customers in Viet Nam to be able to drive more business innovation in the cloud. This collaboration will also help accelerate SAP and Microsoft’s cloud business growth in Viet Nam. As leaders in enterprise software, SAP and Microsoft are aligning closely to provide companies in Viet Nam with the safe and trusted path to digital transformation. SAP and Microsoft are moving ahead in bringing SAP’s various software and services to Azure. The two tech giants will also co-engineer, go to market together with premier solutions and provide joint support services to move forward to the best cloud … [Read more...] about BUSINESS NEWS IN BRIEF 24/3
BUSINESS NEWS IN BRIEF 22/2
Can Tho in dire need of international shipping routes A vessel heads for Tan Cang-Cai Cui Port in Can Tho City Although the Government has allowed Can Tho City to expand its logistics center to 242 hectares from the current 75 hectares, the center cannot develop without international shipping routes allowing the city to directly ship goods abroad, said Nguyen Minh Toai, director of the municipal Department of Industry and Trade. At a seminar on development of Can Tho City’s logistics network by 2020, with a vision to 2030, in the city today, February 20, Toai said that Can Tho needs to launch shipping routes through Quan Chanh Bo Canal and Dinh An Estuary to develop a modern logistics center in the city. It costs US$10 to transport each container of goods from Can Tho to Cat Lai Port in HCMC or to Cai Mep-Thi Vai Port in Ba Ria-Vung Tau Province, he said, and the cost is even higher if shipping containers are carried further away. If goods are directly shipped from the … [Read more...] about BUSINESS NEWS IN BRIEF 22/2
The Government’s regular meeting-October 2018
THE GOVERNMENT SOCIALIST REPUBLIC OF VIET NAMIndependence - Freedom - Happiness No. 140/NQ-CP Ha Noi, November 09, 2018 RESOLUTION THE GOVERNMENT’S REGULAR MEETING – OCTOBER 2018 THE GOVERNMENT Pursuant to the Law on Organization of the Government dated June 19, 2015; Pursuant to the Government’s Decree No. 138/2016/ND-CP dated October 01, 2016 promulgating the working regulation of the Government; Based on the discussion of the Cabinet members and the conclusion of the Prime Minister at the Government’s regular meeting in October 2018, held on November 03, 2018, DECIDES 1. Regarding the draft Ordinance amending and supplementing the Ordinances related to planning The Ministry of Planning and Investment was assigned to assume the prime responsibility for, and coordinate with the concerned ministries and agencies in collecting comments from the Government members, finalizing the proposal for the draft Ordinance and reporting to the Prime Minister … [Read more...] about The Government’s regular meeting-October 2018
IMF’s Lagarde warns against trade, currency wars, urges fix to global rules
IMF's Lagarde warns against trade, currency wars, urges fix to global rulesThe Saigon Times Daily Christine Lagarde, International Monetary Fund (IMF) Managing Director, attends a news conference in Tokyo, Japan October 4, 2018 – PHOTO: REUTERS NUSA DUA (REUTERS) - International Monetary Fund Managing Director Christine Lagarde on Thursday warned countries against engaging in trade and currency wars that hurt global growth and imperil "innocent bystanders." Formally launching the IMF and World Bank annual meetings on the Indonesian resort island of Bali, Lagarde urged countries to "de-escalate" trade conflicts and fix global trading rules instead of abandoning them. The United States and China have slapped tit-for-tat tariffs on hundreds of billions of dollars of each other's goods over the past few months, rattling financial markets as investors worry that the escalating trade conflict could knock global trade and investment. The tariffs stem from the Trump … [Read more...] about IMF’s Lagarde warns against trade, currency wars, urges fix to global rules