Russian economy forecast

The Standard Chartered Bank reports that the increase in the basic interest rate is a good signal for the VND, but there are still some negative movements in the monetary flow. The balance of payment in the short term may continue to put pressure on the exchange rate between the VND and USD as the foreign direct investment (FDI) inflows are on the decline. Moreover, overseas remittance cannot help settle the country’s trade deficit. … [Read more...] about Increase basic interest rate – a good therapy for national economy

For Vinatex, in the second quarter, the group would continue to produce face masks and medical protective clothes to meet the high demand for these products in many foreign markets while ensuring stable operations to catch up with the customers’ demands once the market showed signs of recovery. … [Read more...] about Garment exports forecast to plummet due to lack of orders

According to the Vietnam National Textile and Garment Group (Vinatex), the domestic textile and garment industry could lose up to 50 percent of orders in May. Meanwhile, the recovery of supply amid falling demand might lead to a 20 percent reduction in prices worldwide, it said. … [Read more...] about VN garment exports forecast to plummet due to lack of orders

In addition, the Government cautiously recommended the NA consider and adopt the guideline on several specific mechanisms and policies to revive the economy in the new situation. Accordingly, the Government asked for the NA’s permission to proactively adjust the 2020 public investment plans among ministries, sectors and localities within the expenditure estimate on development investment; convert the investment mode for important transport projects from that of a public-private partnership to the use of the state budget; exempt and reduce a number of tax obligations concerning the areas and subjects suffering heavy losses due to COVID-19; postpone the increase of basic salary for civil servants, public employees and the armed forces and pensions from July 1, 2020; and consider launching new economic stimulus packages if the pandemic continues to be prolonged on a global scale. … [Read more...] about BUSINESS NEWS HEADLINES MAY 30

According to chairman Ngô Chí Dũng, the bank has begun preliminary talks to sell up to 49 per cent in its consumer finance arm, FE Credit. The money from the deal will be spent on its retail and SME divisions. … [Read more...] about VPBank confident of beating 2020 profit target