When yields increase bond prices

Brent crude futures fell 27 cents, or 0.3%, to $97.88 a barrel by 0034 GMT after settling 1.5% lower on Friday. U.S. West Texas Intermediate crude was at $91.87 a barrel, down 22 cents, or 0.2%, following a 2.4% drop in the previous session. Saudi Aramco stands ready to raise crude oil output to its maximum capacity of 12 million barrels per day (bpd) if requested to do so by the Saudi Arabian government, Chief Executive Amin Nasser told reporters on Sunday. "We are confident of our ability to ramp up to 12 million bpd any time there is a need or a call from the government or from the ministry of energy to increase our production," Nasser said. He added that China's easing of Covid-19 restrictions and a pickup in the aviation industry could add to demand. Investors are looking ahead to China economic data later on Monday for demand cues at the world's top crude oil importer. Oil prices rebounded more than 3% last week after a damaged oil pipeline component disrupted output at … [Read more...] about Oil prices ease as Aramco says ready to boost crude output

More trains will be available during the National Day holiday to serve rising travel demand. (Photo: VNA) Hanoi (VNA) – Vietnam Railways (VNR) is planning adding many trains to popular tourist destinations to serve high travel demand during the National Day holiday, which will last from September 1 to 4. The corporation said apart from the regular daily train schedule , it will operate additional ones on routes such as Hanoi - Ho Chi Minh City, HCM City - Quy Nhon, HCM City - Nha Trang, HCM City - Phan Thiet, Hanoi - Vinh, Hanoi - Dong Hoi, Hanoi - Hai Phong, and Hanoi - Lao Cai. During the holiday, VNR will still apply discounts of 5 - 7% on the return legs for round-trip tickets and reduce ticket prices for social policy beneficiaries, including Heroic Vietnamese Mothers, war invalids, the elderly, students, and trade unions’ members, it noted./. VNA … [Read more...] about Trains to increase during National Day holiday

VABA asks relevant authorities to study and adjust the domestic ceiling price bracket for airlines to promote the recovery of the industry. — Photo a family.vn The president of the Viet Nam Aviation Business Association (VABA) has proposed to adjust the ceiling fare for domestic airlines to promote the industry's recovery. At a national conference between the Prime Minister and businesses last week, VABA's chairman Pham Viet Dung said: "Viet Nam's aviation market is growing rapidly on the recovery trend but not evenly in all segments." The domestic market has fully recovered compared to before the pandemic. In contrast, the international market has recovered very slowly, said Dung, mentioning domestic passenger transport increased by 12 per cent compared to 2019, global freight increased, but household goods decreased. However, revenue was disproportionate due to increased fuel prices and some input prices, airlines still suffered losses, and liquidity did not improve much, … [Read more...] about VABA proposal raising domestic airfare ceiling

Economists and analysts said they believe Chinese authorities are keen to support the sluggish economy by allowing a widening policy divergence with other major economies that are raising interest rates aggressively. The People's Bank of China (PBOC) said it was lowering the rate on 400 billion yuan ($59.33 billion) of one-year medium-term lending facility (MLF) loans to some financial institutions by 10 basis points (bps) to 2.75%, from 2.85%. In a poll of 32 market watchers last week, all respondents had forecast the MLF rate would be left unchanged and 29 had predicted there would be a partial rollover. "The rate cut surprises us," said Xing Zhaopeng, senior China strategist at ANZ. "It should be a response to the weak credit data on Friday. The government remains cautious about growth and will not let go." New bank lending in China tumbled more than expected in July while broad credit growth slowed, as fresh Covid flare-ups, worries about jobs and a deepening property … [Read more...] about China unexpectedly cuts 2 key rates, withdraws cash from banking system

Product quarantine Nguyen Thi Thu Huong, Deputy Director of the Ministry of Agriculture and Rural Development’s (MARD) Plant Protection Department said China’s General Administration of Customs (GACC) had approved imports of Vietnamese passion fruit through seven border crossings in China’s Guangxi Province, including Huu Nghi Quan, Po Chai, Pingxiang Railway Station, Pingxiang, Dongxing, Long Bang, and Shuikou. A series of activities have been planned to promote the speedy export of passion fruit to China The two sides will assess the results of the pilot project and decide whether to sign an official protocol on plant quarantine for Vietnamese passion fruit imported into China, contributing to the development of trade between the two countries. About 6,000 hectares of passion fruit are being grown in Vietnam’s 46 cities and provinces, providing an annual output of more than 111,000 tonnes, with an average yield of 22.67 tonnes per hectare. The cultivation area … [Read more...] about Vietnam pilots passion fruit exports to China

Under a planned new regulation, the Health Ministry of Indonesia is looking to control the promotion and packaging of e-cigarettes, which have remained unregulated since their legalisation in 2018. The ministry is also seeking to increase the size of graphic health warnings on tobacco packaging from 40% to 90%, ban the advertising, sponsorship and promotion of tobacco products, and prohibit the sale of single cigarettes. The number of underage smokers continues to increase each year, especially since the legalisation of e-cigarettes, Imran Agus Nurali, the ministry’s director of health promotion and community empowerment, told a webinar on August 11. He stressed the need for stronger measures to reduce tobacco consumption to protect future generations from the impact of smoking. Banning the advertising, sponsorship and promotion of tobacco products is also crucial as according to the 2019 Global Youth Tobacco Survey, around 65% of Indonesia’s children are exposed to tobacco ads … [Read more...] about Indonesia plans to tighten rules to curb underage smoking