With more than a billion subscribers, India is one of the biggest mobile markets - what went wrong? One of India's biggest telecoms firms, Vodafone India, has posted record second quarter losses of 510bn rupees ($7bn; £5.4bn) further exacerbating fears about the state of the industry. Economist Vivek Kaul explains further. What has caused these losses in such a big market? With more than a billion mobile subscribers, India is one of the world's biggest telecoms markets. But there are two reasons for this bloodbath. The first is that for many years while the prices of telephone calls fell, data prices continued to remain high. However, with the entry of Reliance Jio three years ago, this entirely changed. The company slashed data prices and, in the process, managed to change what was essentially a voice market into a data market. This resulted in India ending up with the cheapest mobile data in the world. But this put massive pressure on the players already in the market. … [Read more...] about How did Vodafone lose $7bn in India in just one quarter?
Exchange rate management in india
The State management efficiency in granting certificates of origin for enterprises needs to be improved to reduce trade frauds. Customs officials check the origin of goods. The State should improve the management efficiency in granting certificate of origin for enterprises. — Photo baophapluat.vn According to Minister and Chairman of the Government Office Mai Tien Dung, it should continue to create favourable conditions for enterprises in the production and export of goods in accordance with international commitments in free trade agreements. Deputy Minister of Industry and Trade Tran Quoc Khanh said to deal with fraud, the State should promote and improve awareness of enterprise' regulations related to certificates of origin (C/O). Speaking during a meeting at the Vietnam Chamber of Commerce and Industry (VCCI) late last week, Khanh said joining the free trade agreements will help reduce cases of origin fraud. This often occurs for goods exported to markets applying … [Read more...] about Better management on C/O needed to avoid trade frauds in Vietnam
The consumer price index (CPI) between January and May increases by 2.74 percent from the same period last year. (Photo: VNA) Hanoi (VNA) – The consumer price index (CPI) between January and May increased by 2.74 percent from the same period last year – the slowest five-month pace over the last three years, according to the General Statistics Office (GSO). The GSO said on May 29 that the CPI in May grew by 0.49 percent from April, 1.5 percent from December 2018, and 2.88 percent from the same period last year. Compared to the previous month, nine of the 11 groups of main consumer goods and services recorded price hikes in May, including transport (up 2.64 percent); housing fees and construction materials (1.28 percent); beverage and cigarette (0.18 percent); and garments, headwear, and footwear (0.12 percent). Price declines were reported in medicines and healthcare services (down 0.06 percent), and postal and telecom services (0.05 percent). Explaining the CPI … [Read more...] about Five-month CPI rises 2.74 percent year-on-year
At the launching ceremony (Photo: VNA) Ha Giang (VNA) – More than 10,000 residents in the Dong Van Karst Plateau in the northern mountainous province of Ha Giang will no longer have to worry about water shortage for their daily life thanks to the launch of a pumping station on November 16. The Seo Ho water pumping station in Dong Van district’s Thai Phin Tung commune was built under the KaWaTech Solution collaborative project funded by the German Federal Ministry of Education and Research (BMBF). Construction of the pumping station started in February 2014 with a total investment of 110 billion VND (over 4.75 million USD at current exchange rate), to which Ha Giang provided 70 billion VND. It is the main part of the KaWaTech Solution project, in which German and Vietnamese partners from universities, research institutes, and government agencies worked together towards developing and testing innovative solutions for sustainable water supply for the karst plateau, … [Read more...] about German-funded project brings water to residents in Dong Van Karst Plateau
Illustrative image (Source: VNA) Hanoi (VNA) – The stock market’s growth in the first quarter of 2019 was fairly positive with 15 out of the 18 sectors gaining higher scores and a strong flow of money poured into the market through exchange traded funds. The statement was revealed by Dao Tuan Trung, head of the research centre at Vietinbank Securities, at a conference assessing the development prospects of Vietnam’s economy and stock market in 2019. He forecast that the profit growth of businesses listed on the Ho Chi Minh Stock Exchange (HOSE) will reach 7.51 percent this year. At the end of 2019, the VN-Index is projected to stand between 920 and 950 based on the anticipation of interest rate, profit and price-to-earnings ratio. According to Nguyen Duc Thanh, Director of the Institute for Economic and Policy Research (VEPR), Vietnam’s economy expanded by 6.79 percent in the first three months of this year. However, it depended heavily on … [Read more...] about Stock market sees positive growth in Q1