Investors are growing nervous about the global outlook as China's economy stutters, while other issues continue to hurt confidence including the US government shutdown at Brexit. (Photo: AFP/Johannes Eisele) The mood remains cautious, with the rally that has characterised the start of the year stuttering owing to a slowing Chinese economy, a softer global outlook and other issues including Brexit and the US government shutdown, which shows no sign of ending soon. US investors turned sellers on Tuesday after the Financial Times and CNBC said Washington had rejected Beijing's offer of preparatory discussions ahead of the next round of high-level negotiations. And while the White House denied the reports, observers said they highlighted the fragility of the talks. They also came a day after Bloomberg News said the two sides were struggling to reach agreement on the crucial matter of intellectual property, a key source of US anger. Hopes that China and the US were on the right track … [Read more...] about Asian markets swing as dealers battle uncertainty
Top headline news this week
BUSINESS NEWS IN BRIEF 31/8
Mitsubishi plans to make electric cars in Viet Nam Japan’s Mitsubishi Corporation plans to invest in an electric automobile manufacturing factory in Viet Nam, said Executive Vice President Hiroshi Sakuma during a meeting with Vietnamese Deputy Prime Minister Vuong Dinh Hue in Ha Noi on Wednesday. At the meeting, Sakuma said his firm was evaluating the feasibility of the project and look forward to new regulations on environmental protection taxes to promote investment in the country. Hue said Viet Nam’s National Assembly would soon discuss and pass the Law on Environmental Protection Tax. There would be incentives commensurate with environmentally friendly products. The Mitsubishi Corporation is currently investing in two BOT (Build-Operate-Transfer) projects in Viet Nam, namely the Vung Ang 2 Thermal Power Plant (1,200 MW) and Vinh Tan 3 (1,980 MW) Power Plant. The corporation and Viet Nam’s Ministry of Industry and Trade signed an investment … [Read more...] about BUSINESS NEWS IN BRIEF 31/8
BUSINESS NEWS IN BRIEF 16/8
Vietnam firms join Tamil Nadu food expo in India Seven Vietnamese enterprises are showcasing their products at Vibrant Tamil Nadu - Global Expo & Summit 2018 in the Indian state of Tamil Nadu, which runs from August 12-15. The food and beverage expo also features nearly 200 Indian firms and representatives from 29 other nations. Several workshops on food, processed food and beverages and measures to boost the sector’s development have been held at the event, along with meetings between participating firms and state authorities. The Vietnamese enterprises discussed the possibility of signing some memoranda of understanding on cooperation in food production and processing and on investment in industrial zones with Indian partners. Bui Trung Thuong, Chief of the Vietnam Trade Office in India, briefed Indian partners on Vietnam-India economic and trade ties, the prospects of the Vietnamese food sector and opportunities for the two countries’ businesses. India ranks 27th … [Read more...] about BUSINESS NEWS IN BRIEF 16/8
A cash cow over-milked
A cash cow over-milked Son Nguyen Wastefulness in many circumstances is unfathomable, especially when it comes to using other people’s money. This proves right to numerous public investment projects, and a typical case study has surfaced this week when the State Audit of Vietnam delivered a report appraising public investment projects at the ongoing National Assembly sitting in Hanoi. In the report delivered on Monday, Ho Duc Phoc, head of the agency, cannoned lawmakers’ attention to a project to refurbish the Sao Khe River landscape in Ninh Binh Province, whose investment has jumped from a mere VND72 billion to roughly VND2,600 billion now. Such a weird phenomenon takes headlines far and wide. The project was first approved in 2001. After several rounds of adjustments and revisions, according to the news site Dan Tri, its initial cost has multiplied by 36 times, which is unimaginable by any standard. According to the news site, whatever reason may be used as an excuse, … [Read more...] about A cash cow over-milked
Social News 4/4 (Hourly Updated)
New hospital building delayed due to slow compensation for residents A design of the new facility for HCM City Hospital for Traumatology and Orthopaedics. Source http://www.medinet.hochiminhcity.gov.vn Slow compensation for residents affected by the construction project has delayed construction on a new facility for HCM City Hospital for Traumatology and Orthopaedics for six years. The project to build the new facility was approved by the Prime Minister in 2010. In 2011, investors designed to build a 5,000-square metre facility, which was later expanded to more than 7,000 square metres. HCM City People’s Committee has instructed the authorities of Bình Chánh District, where the new facility will be located, and investors to speed up the construction many times, but the project still has not yet been started. In 2016, for instance, the committee required that the project begin in December of that year and would be expected to be completed this year. According to the … [Read more...] about Social News 4/4 (Hourly Updated)