Equity market news

Asian markets wobbled Tuesday after a two-day rally as profit-takers stepped in and traders weighed the chances of the Federal Reserve skipping an interest rate hike this month. The tepid performance came after a global advance stumbled in New York and Europe on Monday, with a below-par read on US services sector activity hinting at weakness in a key area of the economy. Analysts also warned that with the US borrowing ceiling now lifted, the Treasury is expected to unleash a flood of debt onto the market as it looks to restock its coffers, sucking cash from the financial system and putting pressure on liquidity. Sylvia Jablonski, at Defiance ETF, told Bloomberg Television that such a move that soaks up money "is something that will probably keep us in a range-bound mode until we see where it all lands, including the Fed’s final decision on rates". Traders have been broadly upbeat after a "Goldilocks" jobs report Friday that was neither too good nor too bad suggested the economy … [Read more...] about Asian markets struggle to kick on after rally, with eyes on Fed

Recently, Mixue, a Chinese chain of fresh ice cream and tea stores focusing on the low-end market and Generation Z, announced it had reached 1,000 stores through franchising after nearly five years of operation in Vietnam – a scale that no F&B brand had ever reached. Despite the global economic slowdown, top-of-mind F&B brands expanded their chains after the Covid-19 pandemic. As of February, Highland Coffee had around 600 stores, an increase of 63.5% compared to March 2021. Trung Nguyen E-Coffee nearly doubled its stores from 308 in March 2021 to 620 in February 2023. Phuc Long, after receiving the capital from Masan Group, expanded rapidly to more than 900 stores, including 132 flagship stores and more than 770 kiosks at WinMart/WinMart , compared to just 80 stores in March 2021. According to a report about the F&B market by iPOS.vn, the F&B market saw a considerable recovery after the COVID-19 pandemic to reach a revenue of VND610 trillion in 2022, up … [Read more...] about F&B more robust with boom in low-end market

About 90-95 per cent of Cambodia's pepper output has been exported to Viet Nam. — Photo nld.com.vn Viet Nam's pepper exports are not challenged by Cambodia being issued a licence to export its pepper to China directly, according to experts. The Viet Nam Trade Office in Cambodia quoted Khmer Times sources saying that Cambodian pepper would be available in China directly after the General Administration of Customs of China (GACC) approved Cambodia’s export proposal. Accordingly, the GACC approved seven packaging factories and 28 growing facilities for pepper exports in Cambodia. Le Viet Anh, head of the Viet Nam Pepper Association's office, Cambodia exporting pepper directly to China was not a challenge for Viet Nam's pepper exports immediately because the pepper volume exported from Cambodia to China was not much. “About 90-95 per cent of Cambodia's pepper output have been exported to Viet Nam, then processors in Viet Nam have re-exported the volume to other countries, … [Read more...] about Viet Nam does not face challenge from Cambodia pepper exports to China: experts

In India, the world's third-largest aviation market, Prime Minister Narendra Modi's government recently decided not to allow lessors and vulture funds to withdraw aircraft, request de-registration and force the export of aircraft. According to Cirium, a data and advanced analytics solutions provider for the aviation industry, India is one of the world's top large aircraft leasing markets. Up to 75 per cent of aircraft were delivered to India in the form of sales and lease back contracts between 2018 and 2022, much higher than the world average of 35 per cent. The move by the Indian government comes after Go First Airlines filed for bankruptcy protection, shutting down on May 3. Lessors had requested to deregister and withdraw 54 aircraft from Go First Airlines. Three businesses that lease aircraft to SpiceJet, another Indian airline, also submitted an application to the Civil Aviation Authority of India in early May, requesting the de-registration of four SpiceJet aircraft. The … [Read more...] about Indian government protects aircraft fleets from unscrupulous lessors

Illustrative photo (Photo: Breeding Magazine) Hanoi (VNA) – Vietnam spent 2.04 billion USD to import animal feed and raw material s for the production of this kind of commodity in the first five months of this year, according to the Ministry of Agriculture and Rural Development (MARD). The figure marks a year-on-year decrease of 2%. Animal feed and raw materials from Argentina to Vietnam accounted for 25.8% of the total market shares, followed by India (18.3%) and the US (15.2%). Compared to the same period last year, the imports from the three countries increased by 3.9%, 130%, and 28.3%, respectively. MARD recommends that to reduce reliance on imported animal feed, farmers in localities should make use of available domestic raw materials, produce animal feed by themselves to reduce cost, and find sources of raw materials for animal feed production. Ministries and agencies were asked to tighten control over the import of meat and by-products, support importers … [Read more...] about Vietnam spends over 2 billion USD on animal feed, material imports in 5 months

Thua Thien - Hue grants investment licences to nine projects in the first five months of 2023. (Photo: VNA) Hanoi (VNS/VNA) - Since the beginning of the year, nine new projects have been granted investment licences by central Thua Thien - Hue province with a total investment of more than 2 trillion VND (85 million USD), according to a report by the provincial Department of Planning and Investment. Of the total investment, five are FDI projects with registered capital of 28.5 million USD. The growth rate of the province’s GRDP in the first quarter is estimated at 6.61%, higher than the national average of 3.32%, and is expected to increase from 7.5% to 8.5% in the second quarter, a representative of the department said at the recent regular meeting. Import and export turnover in May rose month-on-month but decreased over last year. Many industrial production sectors, such as textiles, garments, cement, wood chips, and power generation, have slowed down. Especially, … [Read more...] about Thua Thien – Hue grants investment licences to nine projects

The Biochemistry and Hematology Laboratory at Song Thuong General Hospital is equipped with modern facility (Photo: VNA) Bac Giang (VNA) – Positive results have been recorded in preventive medicine work in the northern province of Bac Giang after two years of implementing Directive No 05-CT/TU dated May 5, 2021 of the Standing Board of the Provincial Party Committee on improving the capacity of the work to meet the requirements of the new situation. The outcome is attributed to a sharp increase in investment in preventive medicine . non-communicable diseases receiving treatment have been on the rise. health stations . Bac Giang continues to pay attention to improving the capacity of preventive medicine work in the locality. It will focus on developing a preventive health system that is capable of forecasting and controlling infectious, non-communicable and occupational diseases as well as food-borne maladies. The number of residents that have been … [Read more...] about Bac Giang focuses on developing preventive medicine system

Practical experience has shown that the relationship between the press and companies is one of accompanying each other and co-developing. At the "Media and Enterprises - Companions for Sustainability" forum hosted by The Economic and Urban Newspaper today [June 5], experts shared their views on the relationship between enterprises and the press. Deputy Director of the Press Department of the Ministry of Information and Communications Dang Khac Loi: Press contributes to a favorable business environment Deputy Director of the Press Department under the Ministry of Information and Communications Dang Khac Loi. Photo: Thanh Tra Newspaper In the process of national development, entrepreneurs and enterprises are an important part of the great bloc of national unity and play a vital role in the country's construction and economic progress. To realize the socio-economic development goals, it is imperative to continue fostering a favorable business … [Read more...] about Strong ties between businesses and press in a difficult time: Experts

The figure marks a year-on-year decrease of 2%. Animal feed and raw materials from Argentina to Vietnam accounted for 25.8% of the total market shares, followed by India (18.3%) and the U.S. (15.2%). Compared to the same period last year, the imports from the three countries increased by 3.9%, 130%, and 28.3%, respectively. MARD recommends that to reduce reliance on imported animal feed, farmers in localities should make use of available domestic raw materials, produce animal feed by themselves to reduce cost, and find sources of raw materials for animal feed production. Ministries and agencies were asked to tighten control over the import of meat and by-products, support importers to reduce the costs of products, as well as create favorable conditions for the development of material zones for animal feed production. … [Read more...] about Vietnam spends over $2B on animal feed, material imports in 5 months

The stock market has witnessed a dearth of foreign-invested enterprises (FIEs) going public in the past six years. In fact, the latest to be listed in this country was Siam Brothers Vietnam in 2017, marking the end of a decade-long dry spell for FIE listings. Some renowned companies may be more keen to list elsewhere, photo Le Toan While a wave of FIEs debuted on the market during 2003-2008 following the introduction of rules on transforming a number of FIEs to operate in the form of joint-stock company, their numbers have dwindled over the years, with some even being delisted. At present, only nine FIEs remain listed, with three others trading on the Unlisted Public Company Market (UPCoM). Aside from Siam Brothers Vietnam, the remaining entities include Everpia, Mirae, Tung Kuang Industrial, Taicera (TCR), Taya Vietnam Electric Wire and Cable, The Royal International Corporation (RIC), Interfood (IFS), Chang Yih Ceramic. While this group of companies generally … [Read more...] about FIEs remain reluctant to take on stock listing