The Vietnamese economy is expected to grow at around 6.7 percent this year, the fastest rate in Southeast Asia, according to the Institute of Chartered Accountants in England and Wales’ recent Economic Insight: South East Asia report. According to the report, Southeast Asian economies except Vietnam have seen exports drop in the second quarter of this year compared to the same period last year while Vietnam’s exports grew albeit slower than in 2018. Its economy grew at 6.8 percent year-on-year in the first quarter driven by strong manufacturing, steady services and higher agricultural output. However, its economic momentum is expected to trend lower due to reduced Chinese demand for goods and rising trade protectionism. While the escalating US-China trade war could benefit Vietnam in the short term due to trade diversion, Vietnam still heavily relies on China, with its exports to that country accounting for around 10 per cent of GDP in 2017. Foreign direct investment (FDI) … [Read more...] about Vietnam economy to grow at 6.7%: Report
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The Straits Times Asia Report magazine: Download June issue here
We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused. Until we resolve the issues, subscribers need not log in to access ST Digital articles. But a log-in is still required for our PDFs. … [Read more...] about The Straits Times Asia Report magazine: Download June issue here
ST Asia Report magazine wins top prizes at Global Media Awards
SINGAPORE - The Straits Times Asia Report, a magazine of the best analyses and features on the region, bagged two top awards at the prestigious International News Media Association (Inma) Global Media Awards held on Friday (May 17) in New York City. Singapore Press Holdings (SPH), which publishes ST, also clinched two other prizes for print advertising and corporate innovation. SPH was named Best in Asia/ Pacific, Regional/ Local Brands for the bi-monthly ST Asia Report magazine, which contains original and curated content on happenings in the region. Past editions have shed light on the Trump-Kim Summit, the start of Japan's Reiwa Era and last month's Indonesia elections, among other topics. The magazine, which will be produced monthly from June, also won SPH the top spot for Best News Print Product. Mr Warren Fernandez, Straits Times editor and editor-in-chief of Singapore Press Holdings' English/ Malay/Tamil Media Group said: "We are continuing to invest heavily in our network of … [Read more...] about ST Asia Report magazine wins top prizes at Global Media Awards
Third man jailed for under-reporting Scoot baggage weight for bribes
Three men have been jailed for accepting bribes after a report by The New Paper last year. The report, published on July 13, said budget airline Scoot was investigating claims that a baggage-touting syndicate was operating at Changi Airport. Checks by TNP then found that passengers with excess baggage were being offered lower rates by touts, and this led to investigations by Scoot and Sats. Yesterday, Indian national Patel Hiteshkumar Chandubhai, 37, was jailed for eight weeks for accepting at least $800 in bribes. He was ordered to pay a penalty of $800. He is the third man to be jailed in the past week for accepting bribes to under-report the weight of passenger bags at Changi Airport. Patel worked as a customer service associate for logistics service provider UBTS between January 2015 and November 2016. His responsibilities included assisting passengers at boarding gates and check-in counters for Tigerair flights. He took the money from Indian national Gopal Krishna Raju, 37, whose … [Read more...] about Third man jailed for under-reporting Scoot baggage weight for bribes
Asian manufacturing sector still weak: report
Seasonal factors in the first quarter led to noisy activity data, including PMI numbers. Despite the improvement in PMI data, the region’s industrial production data continued to be weak. In addition, formal statistical tests suggest that PMI changes are not good predictors of changes in industrial production. Two factors indicate that manufacturing still faces challenges. First, the electronics sector, which is influential in industrial production in many countries in Asia, is still weak. A build-up of inventories over the past year has led to oversupply on the market. Second, retail sales activity in the US and Europe has been moderate. The two regions are large consumers of Asian products. Economic activity across the region is mixed. In Australia, residential construction is slowing due to weakness in the housing market. Household wealth effects are reducing private consumption. Business confidence remains resilient for now, signalling steady capital … [Read more...] about Asian manufacturing sector still weak: report