Illustrative image (Photo: plo.vn) Hanoi (VNS/VNA) - Experts have forecast minimal pressure on exchange rates in 2019, with little chance of significant volatility. According to a recent report by SSI Securities Corporation, the continued devaluation of Chinese yuan could pressure the Vietnamese dong. However, after overcoming the most difficult period – beginning of the US-China trade war, market members and management agencies are now prepared. The company predicted the volatility of the US dollar against the Vietnamese dong would be the same as 2018 with little chance for sudden volatility. The Vietnamese dong lost about 2.3 percent against the US dollar in 2018, much lower than the losses of euro, sterling and yuan which were respectively at 4.5 percent, 5.7 percent and 5.4 percent. According to MB Securities Joint Stock Corporation, the forex market would still be under pressure from US Federal Reserve’s plan to raise rates but the pressure … [Read more...] about No huge pressure on exchange in 2019: experts
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BUSINESS NEWS IN BRIEF 26/1
Rice exports set to pick up in Q1 2019 Rice exports are predicted to thrive during the first quarter of 2019 as regular importers are giving positive signs, according to a Ministry of Agriculture and Rural Development source. Rice exports to regular importers such as the Philippines and Indonesia will soar in the first quarter of 2019 as both have recently been hit by natural disasters. The Agro Processing and Market Development Authority made the prediction at a press conference on January 22. The conference briefed expectations of farm produce exports during 2019, reported the news outlet Vietnam Economic Times. The authority stated rice exports to regular importers such as the Philippines and Indonesia will soar in the first quarter of 2019 as both have recently been hit by natural disasters. As many as 166 Filipino companies have made plans to import 1 million tons of rice, of which many have been ordered from Vietnam. This move came after the Philippines lifted its import … [Read more...] about BUSINESS NEWS IN BRIEF 26/1
BUSINESS NEWS IN BRIEF 6/9
SSI upgrades stock board and order services for Web Trading SSI Web Trading, an online trading service from Saigon Securities, has upgraded its online stock board and updated two more conditional orders for derivative trading. The two new orders, namely OCO and Bull & Bear, are the two most useful orders in derivative trading. With this upgrade, all market data displayed on the board and order screen will be updated consecutively and immediately, helping investors track stock prices and follow transactions quickly and accurately. In June, SSI also upgraded its Web Trading by adding four more types of conditional orders. The continuous upgrades to the platform demonstrates SSI’s efforts in providing diversified, efficient trading tools for profit maximisation and risk prevention for clients when practicing derivative trading. With two new conditional orders, OCO and Bull & Bear, SSI has six types of conditional orders, including Up, Down, Trance Up, … [Read more...] about BUSINESS NEWS IN BRIEF 6/9
BUSINESS NEWS IN BRIEF 1/9
Vinatex completes 65% of yearly revenue target Viet Nam National Textile and Garment Group (Vinatex) has completed 65 per cent of the yearly target set for total revenues with its eight-month result (excluding VAT) reaching over VND31.45 trillion (US$1.34 billion). This figure also represented a rise of 7 per cent against the same period last year, the textile group reported in a filing to the Ministry of Planning and Investment. In August alone, it earned VND4.48 trillion in revenue, down 5 per cent year-on-year, of which turnover of the parent company and subsidiaries with its holdings of over 50 per cent capital reached almost VND1.74 trillion. Revenues from other affiliate companies in which the group holds less than 50 per cent capital reached a combined VND2.74 trillion. Vinatex attributed the growth in total revenues to increases in sales of fibre products (96,051 tonnes, up 9.5 per cent year-on-year), fabric of all kinds (100.7 million m3, up 18.6 per cent) … [Read more...] about BUSINESS NEWS IN BRIEF 1/9
BUSINESS NEWS IN BRIEF 28/8
Conference seeks ways for investment promotion in Quang Binh An investment promotion conference in the central province of Quang Binh was convened on August 28, focusing on presentations of the province’s potential and investment opportunities. Present at the conference were Prime Minister Nguyen Xuan Phuc and more than 800 delegates from among the leaders of ministries and departments, along with representatives of embassies, Lao provinces, commercial banks, associations, international organizations and businesses. Participating domestic and foreign organizations and businesses, through the conference, discussed investment and trade opportunities with local authorities. The event is expected to serve as a platform for the handing over of investment registration certificates and cooperation deals to 66 projects with a combined registered capital of US$7.34 billion. Earlier, the provincial People’s Committee held a series of sideline activities, including investment … [Read more...] about BUSINESS NEWS IN BRIEF 28/8