The Malaysian ringgit continued its uptrend to hit a 19 month high against the USD on January 8. (Photo: AFP/VNA) Kuala Lumpur (VNA) – The Malaysian ringgit continued its uptrend tohit a 19 month high against the USD on January 8.The currency is traded at 3.998 ringgits against the greenback. It was up 70basis points against January 5’s close of 3.995.It appreciated against a basket of other major currencies, including theSingapore dollar, the Japanese yen and euro but fell against the British pound.The ringgit continued to rise against Vietnamese dong when one ringgit can buynearly 5,700 VND.According to Bernama, the Malaysian National News Agency, the note is beingbuoyed by the country’s strong trade surplus and expectations of a hike in theOvernight Policy Rate (OPR) by Bank Negara Malaysia this year.By the end of 2017, the Malaysian economy experienced a growth of 5.8 percent.The World Bank and the International Monetary Fund forecast that the SoutheastAsian economy can grow at 5.2 percent this year.-VNA
The spending showed a year-on-year increase of 6.3percent, in which the retail sector accounted for 30.2 percent against30.7 percent in the previous year.Addressing an inauguralceremony of the Encrop Strand Mall in Kota Damansara, Selangor, on May28, the Deputy PM emphasised the important role of the retail sector,describing it as the second hard currency contributor to Malaysiantourism, behind the hotel and accommodation business sector.Malaysia’s tourism rose 8 percent to 65.4 billion ringgits (20.3 billion USD ) in revenue last year.KualaLumpur was rated by CNN’s tourism channel as the fourth most popularplace in the world for shopping in both 2012 and 2013,…... [read more]
Rice price hits new highBy Hong Van - The Saigon Times DailyHCMC – Local rice prices have hit new high these days, spurred by rising global demand as well as efforts by local food traders to improve their stock as ordered by the Government.Prices of unhusked rice in the country’s rice basket Mekong Delta range from VND3,800 to VND5,100 a kilo depending on types, resulting in rice prices to stay at between VND6,000 to VND11,000, which is the highest level Food traders said prices have skyrocketed in line with the increasing demand on the global market, coupled with efforts by…... [read more]
Corporate bond market hits record highHong Phuc and Ngoc Lan By Hong Phuc and Ngoc Lan - The Saigon Times Daily HCMC, HANOI – The local corporate bond market hit an all-time high in 2013 thanks to active bond issues by large enterprises. Statistics of the Daily and some credit institutions show that local enterprises issued over VND40 trillion worth of corporate bonds in 2013, four times higher than 2012’s figure. The figure did not include bond issues via private placement among businesses and banks as those issuances were not announced. Of the figure, Vietnam Infrastructure and Property Development Group…... [read more]
Vietnam’s export turnover is likely to hit 195 billion USD this year, up 10-11 percent compared with 2016 and 6-7 percent higher than the target set by the Prime Minister, according to the Ministry of Industry and Trade (MoIT)’s Export-Import Department. Workers process squid and octopus for export to Japan at the Quang Ninh Sea Product Import-Export Company in Ha Long city The department said the country’s export revenue in the first six months of this year stood at 97.78 billion USD, representing a year-on-year rise of 18.9 percent. The accumulated export-import turnover in the first half was close to…... [read more]
Vietnam’s exports likely to hit 210 billion USD this year (Photo VNA) Hanoi (VNA) – Vietnam’sexports are likely to hit 210 billion USD this year, up 18.9 percent, theMinistry of Industry and Trade (MoIT) forecast. Exports hit 19.4 billion USD inOctober, up 0.3 percent month-on-month, of which 5.2 billion USD was contributedby the domestic economic sector, up 2.4 percent while the remaining was fromthe foreign-invested sector, down 0.4 percent. Ten-month export revenue soared 20.7percent annually to 173.7 billion USD, surpassing the MoIT’s forecast andraising the trade surplus to 1.23 billion USD. A representative from the MoIT’sExport-Import Agency attributed the growth…... [read more]
