China daily

US stocks rally again as China premier warns on Covid-hit economy, illustration photo source: freepik.com After a positive session in Europe, the S&P 500 finished Thursday's session up two percent, positioning the broad-based US index to potentially snap a seven-week losing streak depending on Friday's session. "The market was very oversold, and way overdue to bounce," Adam Sarhan of 50 Park Investment said shortly before the market closed. "And what's happening now, the market is bouncing pretty strong." Stock markets have taken a beating this year as central banks have begun to raise interest rates in order to curb the highest consumer price rises in decades. But US stocks pushed higher on Wednesday after investors took a positive view of the Federal Reserve minutes, which raised hopes that while the central bank would move aggressively to lift interest rates, it might be able to halt additional rate hikes as soon as this summer if inflation recedes. Wall Street kept … [Read more...] about US stocks rally again as China premier warns on Covid-hit economy

Vietnam’s skilled workforce, optimistic economic outlook, and competitive wage prices are among the factors drawing foreign investors’ attention to the country. An estimated 21% of Indian companies that have operations in Southeast Asia or expect to do so in the future show their plan to expand their businesses in Vietnam in the next two years. Whilst, 26% of Chinese corporates in Vietnam are looking to prioritize growth here over the next two years. Car production at Thanh Cong Hyundai Plant. Photo: Viet Dung These are some of the key findings from HSBC Navigator: SEA in Focus , which surveyed more than 1,500 companies from six of the largest economies in the world, including China, France, Germany, India, the UK, and the US – all of which have operations in Southeast Asia or have plans to do so in the future.  The survey gauges their sentiment on doing business in Southeast Asia, with a particular focus on trade, digitization, and sustainability. … [Read more...] about Companies from China and India temped to move to Vietnam

Garment production for export at Kim Dung Textile and Garment Company in District 12, Ho Chi Minh City. (Photo: SGGP) Dependence on imported raw materials Ms. Nguyen Thi Tuyet Mai, Deputy General Secretary of the Vietnam Textile and Apparel Association, said that the total number of enterprises participating in the textile and garment sector in Vietnam, including foreign and domestic enterprises, is more than 7,000. Of which, only 18 percent of them produce fabric materials, 12 percent produce yarn, 2 percent produce other materials, and the rest are garment enterprises. This fact has put the textile industry in front of the challenge of unstable growth due to its dependence on imported raw materials. Currently, each year, Vietnam imports 100 percent of cotton with an estimated value of US$3.2 billion and 60 percent of fabric with an estimated value of $14 billion. The US is the largest cotton and fabric import market of Vietnam, followed by China, Japan, South Korea, and … [Read more...] about Vietnamese textile-garment industry strong but not stable

That is the statement of Le Quoc Thinh, Director of Cuc Phuong Tourism Services Joint Stock Company (Vedana Resort) when introducing events aiming at promoting Cuc Phuong and Ninh Binh tourism after a long period of shutdown due to COVID-19. According to Chairman of Nho Quan district People’s Committee Hoang Khac Tiep, “Nho Quan is endowed with many historical relics and landmarks such as Van Trinh cave, Yen Quang lake, Dong Chuong lake, Cuc Phuong hot mineral water.” In particular, with the natural reserve area and new-stone-age cultural relics, Cuc Phuong National Park has received the title of Asia's leading national park for two consecutive years (2019, 2020) rated by World Travel Awards. It is worth mentioning that Nho Quan has nearly 30,000 ethnic people living in Muong villages. The strategy set by the district is to exploit existing indigenous cultural elements to combine with the trend of ecotourism, which is thriving in Ninh Binh province. Tourists have opportunities to … [Read more...] about Green Tourism – An ideal way to spread Muong ethnic culture

Vietnam’s biggest conglomerate Vingroup and largest private lender Techcombank have been given the green light to conduct a pre-feasibility study on the Gia Nghia - Chon Thanh expressway. The consortium will have to submit its report by Aug. 31, according to the Ministry of Transport (MoT). Once the report is appraised and approved, the MoT will start a bid to select investors for the expressway, with Vingroup-Techcombank able to participate in the process should they want to. The expressway will stretch 212 kilometers with four-six lanes and a maximum speed of 80-100 kph. It will connect Central Highland Dak Nong and southern Binh Phuoc provinces. Another consortium, led by Deo Ca Corporation, has proposed to invest in two expressway projects in the north, Dong Dang - Tra Linh and Huu Nghi - Lang Son. Workers construct the 98-kilometers Cam Lo - La Son expressway connecting central Quang Tri and Thua Thien Hue provinces, February 2021. Photo by VnExpress/Vo Thanh … [Read more...] about Private firms eager to invest in expressways

Asian markets track Wall St higher, tech fuels Hong Kong rally- illustration photo source: freepik.com The positive mood put the region on course to end the week on a healthy note, and came after Federal Reserve minutes indicated the US central bank could take a breather in hiking interest rates if inflation shows signs of easing later in the year. Still, confidence on trading floors remains at a premium owing to a range of crises including soaring prices, tighter monetary policy, China's Covid-19 lockdowns and the war in Ukraine. Investors were in a buying mood Friday as Hong Kong jumped more than two percent, with market heavyweight Alibaba piling on more than 11 percent and search engine Baidu advancing 15 percent. The two firms posted better-than-expected sales growth in the January-March quarter, soothing fears about the impact of Covid and inflation on their bottom lines. Hong Kong's tech index jumped nearly three percent, with other giants also enjoying buying … [Read more...] about Asian markets track Wall St higher, tech fuels Hong Kong rally

A health worker is processing COVID-19 test sample. VNA/VNS Photo HÀ NỘI — Việt Nam registered 1,239 new COVID-19 infections, all domestically transmitted, and no deaths on Friday. The Ministry of Health also announced that 9,365 COVID-19 patients were given the all-clear, bringing the number of recoveries to 9,431,450. Hà Nội still had the most daily infections with 297. This is the first time in six months the capital city has recorded less than 300 new cases in one day. The other localities reporting new transmissions were Vĩnh Phúc (86), Phú Thọ (63), Hải Dương (59), Nghệ An (56), Yên Bái (55), Quảng Ninh (51), Tuyên Quang (43), Nam Định (37), Đà Nẵng (35), Lào Cai (32), Thái Bình (30), Hồ Chí Minh City (30), Thái Nguyên (30), Sơn La (29), Điện Biên (26), Bắc Kạn (25), Lâm Đồng (23), Hà Nam (21), Hà Giang (19), Hà Tĩnh (18), Quảng Bình (18), Hải Phòng (17), Hòa Bình (15), Bình Phước (12), Hưng Yên (12), Ninh Bình (11), Thanh Hóa (11), Bắc Giang (11), Quảng Trị (10), … [Read more...] about Việt Nam logs 1,239 new COVID-19 cases, no deaths on Friday

Airlines in Vietnam are increasing the number of flights to serve high demand during the coming summer holiday. Vietnam Airlines Group, which operates Vietnam Airlines, Pacific Airlines, and VASCO has said they will conduct some 36,000 flights with more than 7.1 million seats, including 32,400 flights and 6.3 million seats on domestic routes between June 1 and August 15. The figure showed an increase of 10 percent compared to the same period in 2019 before the Covid-19 pandemic. Vietnam Airlines Group will operate approximately 430 domestic flights daily during the peak summer days. Some of the busiest flight routes include Hanoi-Danang/HCM City and HCM City-Danang with nearly 160 flights daily between these three cities. There will also be hundreds of flights conducted to other popular tourist destinations including Phu Quoc, Cam Ranh, Dalat, Hue, Quy Nhon, Dong Hoi, Tuy Hoa, and Con Dao. Meanwhile, Vietnam Airlines Group is planning to operate over 3,600 international … [Read more...] about Vietnamese airlines to serve high summer demand

Hanoi, (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency on May 27. – Deputies to the 15th National Assembly (NA) on May 27 discussed a report on the draft Law on Implementation of Democracy at Grassroots Level in their ongoing third session. According to Minister of Home Affairs Pham Thi Thanh Tra, the bill comprises seven chapters and 74 articles, adding many new contents to existing regulations in the field, including those on the implementation of democracy in agencies. Read full story – Upholding Vietnam’s peace-loving tradition and implementing the Party and State’s policy, over the past years, the Vietnam People’s Army (VPA) has sent officers and soldiers to participate in the United Nations (UN)’ peacekeeping missions, which has been supported by local people and appreciated by the UN and the international community. The spirit of dedication and responsibility of Vietnamese soldiers has helped spread the image of the … [Read more...] about ☕ Afternoon briefing on May 27

Hanoi, (VNA) - The following is a list of selected news summaries last night by the Vietnam News Agency. – Senior Party officials of Vietnam and Cuba have agreed that amid the COVID-19 pandemic, regular meetings and exchanges between the two Parties and countries vividly demonstrate their special friendship. Vo Van Thuong, Politburo member and permanent member of the Secretariat of the Communist Party of Vietnam (CPV) Central Committee held online talks with Roberto Morales Ojeda, Politburo member and permanent member of the Secretariat of the Communist Party of Cuba (PCC) Central Committee on May 26. Read full story - Asia needs to play a greater role in maintaining and fostering a peaceful and stable environment conducive to development and prosperity in the region and beyond, on the shared basis of cooperation, understanding, trust and responsibility, Standing Deputy Prime Minister Pham Binh Minh has said. Minh made the suggestion while delivering his remarks at the 27th … [Read more...] about ☀ Morning digest on May 27