Malaysia’s economy grew by 4.5 percent in the first quarter of 2019. (Photo: nst.com.my) Kuala Lumpur (VNA) - Malaysia’s economy grew by 4.5 percent in the first quarter of 2019. According to Bank Negara Malaysia (BNM), the supply side, major sectors continued to expand, with the exception of mining, due to the decline in oil and natural gas production arising from unplanned closure of production facilities. On a quarter-on-quarter seasonally-adjusted basis, the central bank said the economy grew by 1.1 percent. BNM said the Malaysian economy is expected to remain on a steady growth path, with private sector demand anticipated to remain the anchor of growth, amid lower public sector spending. Overall, the central bank said the baseline projection is for the Malaysian economy to grow between 4.3 and 4.8 percent for the year. In late March, the central bank downgraded its forecast for the country’s economic growth this year to 4.3-4.8 percent, from earlier … [Read more...] about Malaysia’s economy grows 4.5 percent in Q1
Steady growth path
US President Donald Trump pardons the turkey "Peas" during the annual ceremony at the White House, ahead of the Thanksgiving holiday. (Photo: AFP/Jim Watson) But analysts cautioned the tepid uplift in New York on Wednesday should not be interpreted as a sign of the start of a recovery from the recent carnage on global stock markets. Investor sentiment remains fragile following the volatility that has swept markets since October, while the OECD has warned that the world economy has peaked and faces a slowdown as it confronts the Trump administration's trade war and tighter monetary conditions. The dollar slipped against the euro, the pound and the yen amid reports the Federal Reserve may pause future interest-rate hikes. Crude prices resumed their downward trajectory Thursday, after a brief recovery on Wednesday. The commodity has fallen by almost 30 per cent from four-year highs touched at the start of October. Oil analysts attribute the pullback to high supply as well as a … [Read more...] about Asian markets steady as US takes a break
Mai Linh launches cooperative to attract idle cars Mai Linh Group on November 15 will officially introduce and start the operation of Hoa Binh Xanh Taxi Cooperative in HCMC, which will call for the participation of owners of idle cars. According to the group’s press release, the cooperative is expected to offer more choices to the group’s customers. Early joiners of Hoa Binh Xanh Cooperative will be exempt from the management fee until December 31. They will also receive a uniform, free training courses and practicing certificates. After that, they will have to pay the management fee of only 13.9% of revenues for the duration of their contracts. Hoa Binh Xanh Cooperative will share Mai Linh’s taxi booking app and use call center 1055. The cooperative’s taxicabs will not be forced to have bright colors or be repainted in green, the traditional color of Mai Linh. However, they will have a lightbox highlighting the word “Taxi,” the Hoa Binh Xanh logo … [Read more...] about BUSINESS NEWS IN BRIEF 15/11
VietNamNet Bridge - Vietnam’s software firms are developing steadily with stable revenue growth rate of 50 percent per annum. Vietnam's software industry is developing rapidly One of the most important goals set in the Party Politburo’s Directive No 58 released in 2000 was developing IT, especially software, into an important key industry Vietnam’s software firms only began learning ‘how to walk’ two decades ago, when China and India had already become the world’s software export centers. However, they just needed a short time to be added to the list of leading software exporters. In 2000, FPT took the first steps to export software. But in 2014-2017, the largest Vietnamese IT group was recognized by IAOP (International Association of Outsourcing Professionals) as one of top 100 outsourcing service providers – The Global Outsourcing 100. Gartner, when assessing the IT outsourcing services provided by the countries in Asia Pacific, … [Read more...] about What’s status of Vietnam’s software industry after two decades of development?
Last month Halcom Việt Nam announced a list of investors who it said are set to buy its shares this year. — Photo halcom.vn Last month Halcom Việt Nam announced a list of investors who it said are set to buy its shares this year. The 16 investors will buy a total of 24.5 million shares at a price of VNĐ10,000 each, acquiring between 50,000 and 10 million shares each. The plan had been approved at an extraordinary shareholders meeting last December. Of the VNĐ245 billion to be raised, about VNĐ100 billion will be used by the Phong Điện Miền Trung Joint Stock Company to build the Phương Mai Wind Power Plant in Bình Định Province, and VNĐ125 billion will be used to upgrade Provincial Road 123. The remainder will supplement the company’s working capital. Many other companies too have opted to go down the equity path to raise funds rather than borrow from banks. Intriguingly, many of them … [Read more...] about Companies ‘strategic’ share sales raise eyebrows