Economy and commerce
Trade
Vietnam sees trade deficit of 19.3 bln USD with China in 7 months: customs
Vietnam saw a trade deficit of over three billion U.S. dollars with China in July, bringing the figure in the first seven months of 2015 to hit some 19.3 billion U.S. dollars, said Vietnam Customs on 17 August. Keep reading ...
Myanmar halts rice exports as floods hit crop
Myanmar halted rice shipments after floods over the past month inundated farmland, raising the specter of supply disruptions in the sixth-biggest exporter. The Myanmar Rice Federation voluntarily suspended exports to prevent an increase in prices after more than 200,000 acres (about 81,000 hectares) of paddy fields ...
Laos, Thailand seek cooperation on SEZs
Laos and Thailand are seeking bilateral cooperation at special and specific economic zones along the border of the two countries. Laos’ National Committee for Special Economic Zones and Thailand’s Policy Committee on Special Economic Zone Development are preparing to sign a memorandum of understanding to inaugurate ...
Vietnam index drops to below 600 points amid devaluation fear
The Vietnam Stock Index or VN-Index slumped for four straight days amid currency devaluation fear, closing at 589.03 points on 14 August. According to stock experts, the decisions of China’s central bank to devalue the Chinese yuan and the decision of Vietnam’s central bank to widen the exchange ...
Global markets: South-east Asia's currencies are plunging like its 1998
Four years ago, a dollar fetched just over 8,500 Indonesian rupiah, and just under three Malaysian ringgit. Today a dollar is worth nearly 14,000 rupiah and almost four ringgit. Both currencies hit 17-year lows this summer, and kept falling (see chart). In Asia the rupiah and ...
Organising Vietnamese - Japanese second high-level dialogue on agriculture
The Ministry of Agriculture and Rural Development in coordination with Japanese Ministry of Agriculture, Forestry and Fisheries held the second high-level dialogue on agricultural development cooperation in Hanoi on 12 August. At the dialogue, Minister of Agriculture and Rural Development Cao Duc Phat called on the ...
Customs red tape costs Vietnamese traders $10 billion a year: expert
Vietnam can help traders save US$10 billion every year by simplifying its customs procedures, which are now very time-consuming and complicated, an expert from a think tank has said. Nguyen Dinh Cung, head of the Central Institute for Economic Management, told an online conference on Tuesday that customs ...
China's currency devaluation could spark 'tidal wave of deflation'
China’s devaluation of the yuan has sent shockwaves through global markets. Edwards, of the bank Société Générale, argues that as well as creating a challenge for China’s Asian rivals, by making its exports more competitive, a cheaper yuan will send “a tidal wave of deflation” breaking ...
Malaysia to open trade and industry office in Vietnam
The Malaysian Ministry of International Trade and Industry will open a representative office in Hanoi latter this year to embrace economic links with Vietnam. Minister Mustapa Mohamed made the announcement to reporters after his attendance at a dialogue with members of the ASEAN Business Club. Keep reading ...
Yuan devaluation seen reigniting currency wars in Asia
A measure of the region’s 10 most-traded currencies excluding the yen is set to decline for a third year, its longest losing streak since 1997, amid signs the US will raise interest rates for the first time in a decade. The People’s Bank of China’s cut ...
