Weaker dollar higher oil price

  The association said shrimp output of major global producers was predicted to reach 3.5 million tonnes in 2018, marking the highest output over the past decade. The increase in world shrimp production was due to the growth in major suppliers such as India, Ecuador, China, Vietnam and Indonesia. In that situation, importers would create pressure to reduce prices, leading to declines on the global and domestic market, it said. Truong Dinh Hoe, VASEP’s general secretary, said the global shrimp supply had risen sharply in the first few months of this year, while shrimp inventories in the US and among local businesses remained high. VASEP reported that the US had a high inventory after US shrimp imports increased by 10 per cent in 2017 and 15 per cent in February this year. The drop in prices hit not only Vietnam but also other shrimp suppliers such as Ecuador, Thailand and Indonesia, causing problems for many farmers, Hòe said. Nguyen Thi Hai, a shrimp trader in Binh … [Read more...] about Farmers should reduce areas farming shrimp

Tra fish exports to Russia slump Export revenue of tra fish to the Russian market in the first 10 months of this year fell 31 percent compared to last year to 12.5 million USD, reported the Vietnam Association of Seafood Exporters and Producers (VASEP). According to the association, the sharp drop followed last year’s declining trend, and was likely to continue for the rest of 2019. VASEP said that in the last two years, Russia’s tra fish consumption has been modest, with unstable import prices. Meanwhile, the European country’s imports of frozen tra fish fillets have increased slightly by 3 percent, but that of frozen whole fish have fallen 29 percent./. Conference on boosting exports to China They were speaking at a recent conference on agricultural, forestry and seafood exports to China in Mong Cai City in the northern province of Quang Ninh. The conference was organised by the Ministry of Agriculture and Rural Development in collaboration with the People's … [Read more...] about BUSINESS NEWS HEADLINES DECEMBER 6

During the first 11 months of the year, Vietnam's exports stood at an estimated US$241.2 billion, up 7.8 per cent on year. Of the figure, export turnover within the domestic sector enjoyed an 18.1 per cent surge to US$74.72 billion, while exports in the FDI sector, including crude oil, were at US$166.7 billion, an increase of 3.8 per cent. According to the Import-Export Department under the Ministry of International Trade (MoIT), a number of favourable factors such as the comprehensive international integration have served to support the Vietnam’s exports in the future as the country has become a signatory of 13 FTAs with a further three FTAs in the negotiation process. Furthermore, domestic goods for exports will become more competitive with other providers due to the removal of tariff barriers. Despite this, several factors look poised to hinder export growth, including a global economic slowdown. The Organisation for Economic Cooperation and Development cut its prediction … [Read more...] about Exports to endure sluggish growth in remaining months

Famous names in the market include Keppel Land and CapitaLand, with the first high-end real estate projects in the country such as The Estella and The Vista. The total supply of high-end apartments in Ho Chi Minh City as at the end of 2007, at approximately 1,700 units, of which about 1,000 units were from FDI projects, was a very small proportion compared to the city's population of 6.85 million at that time. “Since the market share of FDI projects is not high, the average price of high-end primary stocks in 2007 was at US$2,800 per sq m (at an exchange rate of VND16,112), representing an increase of 86 percent compared with sales launches in the previous year,” according to Khanh Nguyen, Associate Director, Capital Markets of Vietnam, at JLL.  “This created a supply-demand imbalance that pushed prices beyond the affordability of homebuyers with real demand. There has been a long queue of buyers trying to compete for the very limited availability of these … [Read more...] about High-end residential the top choice of foreign investors

SINGAPORE - Media OutReach - 6 December 2019 - Aon plc (NYSE:AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, launches Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during October 2019. The report reveals that Typhoon Hagibis made landfall in Japan's Iza Peninsula on October 12 before later sweeping through the greater Tokyo metro region. At least 95 people were killed, and more than 93,250 structures damaged or destroyed. Total economic losses were expected to exceed USD10 billion, with insured losses minimally in the billions (USD). In the United States, extreme wildfire conditions marked by the seasonal return of Diablo and Santa Ana winds led to numerous fire ignitions across California from October 10-17. At least three people were killed and nearly a dozen others were injured. The most destructive fires included the Saddle … [Read more...] about Japan to suffer minimum $10bn economic loss from Typhoon Hagibis, according to Aon catastrophe report