Credit growth rate

Also according to the World Bank’s report, although the Vietnamese economy suffered from COVID-19 in the first half of 2020, prospects remain positive for both the short and medium term. If the world situation gradually improves, economic activity should rebound in the second semester of 2020 such that the economy will grow by around 2.8 percent for the entire year, and by 6.8 percent in 2021. With less favourable external conditions, the economy will expand by only 1.5% in 2020 and 4.5% in 2021. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES AUGUST 5

Jakarta (VNA) – Indonesia recorded 160,280 foreign tourist arrivals in June, down 2.06 percent from the previous month and representing a drop of 88.82 percent as compared to the same month last year, according to the Central Statistics Agency (BPS). The COVID-19 pandemic has had a tremendous impact on the local tourism sector, BPS chief Suhariyanto said during a virtual press conference on August 3. The number of foreign tourists arriving in Indonesia totalled 3.09 million in the first half of this year, a 59.96 percent decrease from 7.72 million registered in the corresponding period last year, he said. With most domestic and international travel having ceased, the occupancy rate of star hotels across the island country remained low at 19.7 percent in June, a drop of 32.57 percentage points from a year earlier and 5.25 percentage points from May. The pandemic has wiped out around 85 trillion rupiah (5.87 billion USD) of Indonesia’s tourism revenue this year. The hotel … [Read more...] about Foreign tourist arrivals to Indonesia plunge in June

The industry should make changes to its planning as it is enjoying fresh, lucrative development opportunities stemming from the country’s joining of bilateral and multilateral free trade agreements, she said. Vitas Chairman Vu Duc Giang said the country is having an advantageous productive working-age population, which would greatly support the textile and garment industry’s expansion so the Government should devise a strategy towards making the industry keep up with the country’s integration pace. To help its members optimise opportunities from free trade agreements, Vitas has suggested that the Government should fine-tune the textile and garment industry development strategy that was approved by the Prime Minister in decision No. 36/2008/QĐ-TTg dated March 30, 2008 and the Ministry of Industry and Trade in decision No. 3218/QĐ-BCT dated April 11, 2014. It has proposed the Government to envisage a development strategy by 2040 so the textile and garment … [Read more...] about Textile & garment sector needs new development strategy

Viettel’s Global revenue rose 9.7 per cent to VND8.6 trillion in the period thanks to growth in its three markets of Southern Africa, Latin America and Southeast Asia despite the impact of the COVID-19 pandemic. Its gross profit increased by nearly 19 per cent to VND3.3 trillion. … [Read more...] about Viettel Global posts US$50.7 million before-tax profit

Four alleged members of the Shiite Muslim movement Hezbollah are on trial in absentia at the court in the Netherlands over the huge Beirut bombing that killed Sunni billionaire Hariri and 21 other people. … [Read more...] about Two huge Beirut explosions kill 73, injure thousands