Internal financial reporting standards

The Office for National Statistics said on Friday that sales volumes in May fell by 0.5% on the month, a slightly smaller decline than the 0.7% drop expected by economists polled by Reuters. But the ONS also slashed its estimate for month-on-month sales volumes growth in April to 0.4% from an originally reported 1.4% after an annual review of its seasonal adjustments process. May's fall was driven by weaker food sales, Heather Bovill, ONS deputy director for surveys and economic indicators, said. "Feedback from supermarkets suggested customers were spending less on their food shop, because of the rising cost of living," she said. Earlier on Friday, Britain's longest-running gauge of consumer confidence, the GfK survey, fell to its lowest since records began in 1974. "The consumer mood is currently darker than in the early stages of the COVID pandemic, the result of the 2016 Brexit referendum and even the shock of the 2008 global financial crisis, and now there's talk of a … [Read more...] about Britons, shaken by cost-of-living squeeze, cut back on shopping

Agricultural circular model gains traction - illustration photo Nghiem Xuan Thanh, Secretary of Hau Giang Party Committee, last week worked with a joint venture between THD Vietnam Project Development JSC and THD Vietnam Agricultural Mechanised Construction JSC to discuss plans to develop an agricultural complex under the circular economic model worth around $1.74 billion. The complex combines two components – the first is a $943.5 million project based on the agriculture-industry-energy (AGINE) model, with the main focus on high-tech organic agriculture in rice cultivation, linking the agricultural processing industry to food products and the production and use of renewable energy. The second model, known as GreenDevi, has an investment capital sum of $782.6 million and represents green development characteristics in agricultural production, including livestock cultivation, circular production and processing without environmental waste, and maximum use of renewable energy to … [Read more...] about Agricultural circular model gains traction

Roads, airports, and seaports are being looked at by overseas companies in terms of investment feasibility, Photo: Shutterstock On June 16, Hoang Gia Khanh, deputy general director of state-owned railway giant Vietnam Railways (VNR), received a delegation of Austrian businesses at its headquarters who introduced new products and technology solutions aiming to seek opportunities in the local industry. The commercial counsellor of the Austrian Embassy in Hanoi said that businesses expect to intensify cooperation with VNR, specifically those in funding and upgrading projects, as well as machinery upgrading and maintenance. He added that besides official development assistance, the Austrian government also has other financial tools that can help VNR access financial resources and technologies. According to Khanh, investment demand for the industry’s infrastructure development is huge and he highly appreciates the products and technology of groups like Plasser & Theurer and … [Read more...] about Reopening increases foreign interest in transport upgrade