Asian markets staged a much-needed rally Wednesday (Oct 17) as investors tracked Wall Street's best performance in more than six months thanks to a healthy round of earnings reports. Asian traders are taking their lead from a strong performance on Wall Street that came after healthy earnings reports. (Photo: AFP/Daniel Roland) Bargain-buyers took advantage of the strong readings from some of the world's top firms to step back into the mix, with a dip in US Treasury yields and a US announcement of trade talks with Japan, the EU and Britain helping sentiment. The news helped distract from long-running worries about the trade war between China and the United States that shows no sign of abating. Investors are now awaiting the release later in the day of minutes from the Federal Reserve's most recent policy meeting, hoping for some insight into its plans for interest rates in light of fresh strong data on the US economy. All three main indexes in New York piled on more than 2 per … [Read more...] about Asian markets stage rally after strong Wall Street lead
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European stock markets advance as rate tensions ease
Logo of the London Stock Exchange European equity markets benefited from an apparent fading of tensions between Italy and the EU over Rome's spending, and there were also glimmers of hope that Brexit talks could see some progress. "European equities are mostly higher in afternoon action, with earnings season ramping up in the US and results mostly better than forecasted, while Italian budget and UK Brexit concerns appear to be easing," analysts at the Charles Schwab brokerage said in a note. 'NOT PARTICULARLY COMFORTABLE' London stocks, however, underperformed their eurozone peers as a weak oil price dragged down shares in energy majors. Stock markets have been rocked in recent days by fears over spiking oil prices, rising US long-term interest rates and an attack by President Donald Trump on the US central bank and its policies. While none of the dangers have disappeared, investors were grateful for the reprieve from ongoing tension. "Investors may not be feeling particularly … [Read more...] about European stock markets advance as rate tensions ease
Competitive electricity market to officially function next year
Mr. Nguyen Anh Tuan, head of the Electricity Regulatory Authority of Vietnam (ERAV) under the Ministry of Industry and Trade said, the program was approved by the Prime Minister and started pilot operation on July 1, 2012. As of September this year, the country has had 87 power plants attending competitive electricity wholesale network with the total capacity reaching 22,946MW, up 2.8 times compared to that six years ago when there was only 31 plants. Currently, the program has only been applied in wholesale channel. Products of power plants that offer prices lower than other suppliers will be bought first to meet production and trading demand. Despite creating a mechanism for electricity producers to compete equally, the program has more benefited hydropower plants than thermal power plants according to some experts. Thermal power plants have paid high input cost which continuously fluctuates so they must offer prices according to material prices, they say. Mr. Phung Van Sinh, … [Read more...] about Competitive electricity market to officially function next year
Vietnam to open public procurement market for foreign investors
The Hanoitimes - The signing of the EU-Vietnam Free Trade Agreement (EVFTA) will create a big step in Vietnam’s government procurement field as foreign investors will be allowed to take part in the market for the first time. Government procurement is about how public authorities spend public money when buying goods, works or services. This can range from buying IT equipment or providing water, gas and electricity, to building a hospital or a road. Healthcare takes up 67 percent of Vietnam’s total public procurement market value Currently, foreign firms are not permitted to engage in bidding activities for government-funded projects as Vietnam has not agreed to make its government procurement subject to the Government Procurement Agreement of the World Trade Organization. However, the country is taking this step for the first time with the EVFTA, which is due to be ratified next year. Under the deal, European companies will be able to bid for public … [Read more...] about Vietnam to open public procurement market for foreign investors
City Party Committee plans for market-oriented economy
Speakers at the 18th HCM City Party Committee conference, which closed yesterday in HCM City. VNA/VNS Photo Tiến LựcViet Nam News HCM CITY — HCM City has set out a plan to use the Party’s assets more effectively based on market economy principles, according to the secretary of HCM City Party Committee. Speaking at the 18th HCM City Party Committee conference which closed yesterday, Nguyễn Thiện Nhân said: “It’s vital to ensure that the city’s Party’s assets are used effectively on the basis of a market economy”. In the coming time, the city Party Committee Office will not be in charge of doing business but will transfer responsibility to appropriate companies under the city’s Party, according to Nhân. For example, the city Party Committee has been involved in business activities such as leasing out land and property to generate revenue, but it will no longer take part in such activities. He also … [Read more...] about City Party Committee plans for market-oriented economy