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Tag Archive for ‘Australia’

Vietnamese consumers more cautious in Q3 2012

Vietnam’s consumer confidence index dipped 8 points to 87 in this year’s third quarter with nine out of ten (91%) Vietnamese changing their spending habits to save more, shows a survey from Nielsen. Consumers’ cautious sentiment increases as 73% of Vietnamese stated this is not a good time to buy things they want and need, […]

Clinton in Australia for security talks

PERTH, Australia – US Secretary of State Hillary Clinton arrived in Australia on Tuesday for annual security and strategic talks, on what is expected to be her final visit to the country in her current role. Clinton will be joined by Defence Secretary Leon Panetta for the talks with counterparts Bob Carr and Stephen Smith on Wednesday expected to focus on regional security and greater US use of Australian facilities. It comes after the arrival of US Marine and Air Force units to northern Australia, seen as evidence of an American “re-balance” towards…

Vinacomin’s coal sales below target below target

HA NOI (VNS)— Vinacomin Group, the State-owned mining giant, expects to sell 8 million tonnes of coal in the final two months the year, with the group’s member companies expected to co-ordinate production and shipping in order to reach the goal. However, total coal consumption this year was predicted to reach only 39 million tonnes, well below the 45.5 million tonnes targeted earlier in the year, the group admitted. According to Ministry of Industry and Trade figures, Vinacomin sold 30.7 million tonnes of coal in the first 10 months this year, 10.6 million tonnes of which was…

Vietnam make leap in FIFA World Football rankings

HA NOI – Viet Nam have jumped two places to 138th in the latest FIFA World Football rankings on the back of strong recent performances. The team are the highest placed from the Southeast Asian region, followed by the Philippines who rose four places to rank 143rd in the world. Thailand dropped seven steps to rank 146th in the world and third in the region. It is the first time in history that the Philippines has overtaken Thailand in the FIFA rankings. Notably, Myanmar leapt 28 places to rank fourth in the region and…

Vietnam Luring Tech Companies Narrows Trade Gap: Southeast Asia

Vietnam’s cost advantage has drawn investments from U.S. and South Korean technology companies, whose exports have overtaken garments and provided a bright spot for a government struggling to revive economic growth. Intel Corp. (INTC), Samsung Electronics Co. (005930) and Jabil Circuit Inc. (JBL) are among a growing roster of companies setting up or expanding in Vietnam, spurring exports amid a global slowdown that has damped demand for goods from other Asian nations. Shipments of mobile phones and other electronics from Vietnam surged 91 percent in the first 10 months of the year to $16 billion, making them the biggest source…

Vietnam: Investment flows from downunder set to spike

Investment inflows from Australia to Vietnam will increase in the short term as Australian companies are interested in expanding investments throughout Asia, including Vietnam. Ivan Colhoun, head of ANZ’s Australian Economics and Property Research, puts VIR’s Ngoc Linh in the picture. Australian investment into Vietnam remains at a low level in comparison with other countries like Japan or the United States, but it seems that Australian companies are expanding overseas investment. So how can Australian investment be increased in Vietnam? I think the potential is very good. Currently, Asia is growing very fast against the rest of the world economy…

S&P loses landmark Australian derivatives case

Standard & Poor’s lost a landmark case in Australia over top-flight ratings given to financial products that collapsed in the build-up to the 2008 global economic crisis. The Federal Court of Australia on Monday ruled that S&P’s AAA rating of constant proportion debt obligation notes created by banking giant ABN AMRO and sold to the councils of 13 Australian towns, had been “misleading and deceptive”. It is the first…

ASEM business forum opens

VIENTIANE (VNS)— The 13th Asia Europe Business Forum has begun in Laos, with participants agreeing that stable political, social and environmental environment is needed to facilitate smooth trade and investment, and the best way to achieve this is by embracing the multilateral trade regime. The outcomes of the three-day forum, which is being held in the capital Vientiane, will be submitted to the heads of states and governments at the 9th Asia-Europe Meeting (ASEM) summit which convenes today. Both Asia and Europe are experiencing problems that are affecting business confidence and…

Vietnam actively participates in TPP negotiations

(VOV) -The Trans-Pacific Strategic Economic Partnership (TPP) provides Vietnam with a good opportunity to boost its exports to potential markets and attract more foreign investors to the country. * TPP will help raise Vietnam’s global status The statement was made by Trade Counselor Hoang Tuan Viet at a recent seminar on TPP negotiations in Mexico. […]

Vietnam attends Mexico seminar on TTP negotiations

The Commercial Counselor at Vietnam’s Embassy in Mexico, Hoang Tuan Viet, has underlined the opportunities and challenges that Vietnam will face when it enters the Trans-Pacific Partnership (TPP) Agreement. Addressing a seminar on the TPP negotiations and the prospects awaiting member countries in Mexico City on October 31, Viet said that the TPP will offer opportunities for Vietnam to access the greater international market and increase its exports while attracting more foreign investment, which will help it raise its position in the regional and international arena. However, numerous challenges await the country in the future, including pressure to open up…