Sterling surges to five-week high against dollar and euro after MPs defeat Government over no-deal China and US agree to continue negotiations next month, sending stock markets up German factory data shows continued slowdown Chancellor declares the ‘end of austerity’ with £13.8bn cash bonanza Double shock of global recession and no-deal Brexit may be more than Europe can withstand 5:08PM Markets wrap: Pound bursts above $1.23 in biggest two-day surge in 10 months The series of stinging defeats for Boris Johnson in Parliament sparked the strongest surge in the pound in 10 months as speculators dumped their huge bets against the battered currency. Sterling jumped to a five-week high versus the dollar and euro after MPs moved to block a no-deal Brexit and rejected the prime minister’s initial call for a snap election. The currency has now enjoyed its biggest two-day gain versus the dollar since last November, bursting … [Read more...] about Pound enjoys biggest two-day gain in 10 months: as it happened
Metro rail under which ministry
La Ngoc Khue, former Deputy Minister of Transport, said that a slower train is a far better option for the country at present, instead of the superfast train that comes with a very heavy budget burden. Khue said that a train speed of 350 kilometers per hour as proposed by the Ministry of Transport (MoT) is redundant. "As the TEDI-TRICC-TEDISOUTH consultancy consortium has estimated, actual demand in 2050 would only meet 40 percent of its capacity of 364,000 people a day. This means 60 percent of seats will not be occupied, while no cargo will be transported, a huge waste of capacity," he told VnExpress. Railways should have the capacity to transport cargo, he said. The World Bank has noted that Vietnam’s logistics cost accounts for 21 percent of its GDP, twice that of Thailand. The main reason is that Vietnam is far too dependent on roads while existing railway routes carry a small fraction of the total volume, Khue noted. "Both China and Japan own the … [Read more...] about A 350 kph train is fast, but where will it get Vietnam?
The South Korean multinational conglomerate expressed its investment interest to the Ministry of Transport in a meeting this week. For Vietnam’s North-South high-speed rail project, Hyundai can provide comprehensive solutions from planning, finance, construction, operation and maintenance, as well as technology transfer and training support, said the group's vice president Chung Jin-hae. He also noted that to obtain capital for public-private-partnership (PPP) investments, government guarantees and minimum revenue guarantee policies (wherein government grants to a private partner a minimum level of revenues for a concession period) are important. "The government should also play a proactive role in site clearance as well as maintaining investor-friendly policies." Deputy Minister of Transport Le Dinh Tho informed the Hyundai executive that Vietnam is mobilizing many domestic and foreign resources to invest in the country’s transport infrastructure through many investment … [Read more...] about Hyundai Group wants to invest in Vietnam’s high-speed rail
Int’l packaging, label, printing tech exhibition opens in Hanoi At the opening ceremony The Vietnam International Packaging, Label, Thermal Transfer, Printing Technology Equipment and Supplies Exhibition 2019 (VPSE 2019) kicked off in Hanoi on March 20. The annual event was initiated by Dong Nam Advertising and Commercial Promotion JSC and held in conjunction with the Vietnam International Advertising Equipment and Technology Exhibition (VIETAD 2019). It offers a good opportunity for domestic and foreign organisations and enterprises to seek partners, transfer technologies, and develop business, contributing to increasing the quality and competitiveness of products, according to Vice Chairman of the Vietnam Advertising Association Nghiem Truong Son. The VPSE 2019 features nearly 500 pavilions displaying a wide range of products in these fields. The event will run until March 23 and is expected to attract over 10,000 visitors. Golf legend, NutiFood ink deal to popularise … [Read more...] about BUSINESS NEWS IN BRIEF 21/3
New firm number down, registered capital up in two months The numbers of newly businesses declined in both February and the first two months of 2019, but their average registered capital increased The numbers of newly founded businesses declined in both February and the first two months of 2019, but the average registered capital per firm increased, according to the General Statistics Office (GSO). In February, 5,900 new companies were set up with total registered capital of 96.3 trillion VND (4.13 billion USD), the GSO said, attributing the month-on-month decrease of 41.5 percent in number of firms partly to the week-long Lunar New Year holiday in February. However, the registered capital of each firm rose 8.8 percent on average to 16.3 billion VND. Almost 15,980 new businesses were founded in the first two months with combined capital of 247.4 trillion VND. The respective figures dropped 14.6 percent and rose 25.4 percent from a year earlier. Including the 531.2 trillion VND … [Read more...] about BUSINESS IN BRIEF 2/3