Economy

Emirates will scale up its flagship A380 operations to 42 cities with over 400 weekly departures with 85 Emirates A380s planned for active service by year end. — Photo courtesy of Emirates Emirates has announced plans to debut its newly retrofitted A380s featuring its latest Premium Economy cabins on routes to New York JFK, San Francisco, Melbourne, Auckland and Singapore from December. The airline will also add more Premium Economy seats on services to London Heathrow and Sydney as its newly enhanced aircraft sporting refreshed cabins roll into scheduled service. The airline aims to offer customers more opportunities to experience its highly acclaimed Premium Economy product. Its latest deployment plans will also see 85 A380s back in the sky by December, well-timed to serve the year-end travel demand. By year-end, the airline will serve close to a third of its network with its flagship A380s as it opens to more destinations like Houston, Bengaluru, Perth, Auckland, Hong Kong … [Read more...] about Emirates expand Premium Economy to five more cities with retrofitted A380s

Kuala Lumpur – Malaysian Minister of International Trade and Industry Mohamed Azmin Ali has called on ASEAN member states to promote digital economy and green technology to generate real and direct benefits to micro-, small- and medium-sized enterprises (MSMEs) and people. The 54th ASEAN Economic Ministers’ Meeting (AEM-54) in Siem Reap, Cambodia, on September 14. (Source: VNA) He made the remark while addressing the 54th ASEAN Economic Ministers’ Meeting (AEM-54) and related meetings in Siem Reap, Cambodia, on September 14. He applauded the progress of the initiatives under the ASEAN Comprehensive Recovery Framework (ACRF) and expressed his country’s support for the recommendation to explore the expansion of the ACRF scope “as the lessons learnt during its implementation will significantly aid in the formulation of a resilient ASEAN Post-2025 Vision agenda.” The official stressed the importance of capacity building for MSMEs, as well as initiatives that would bring … [Read more...] about Malaysia calls for promoted digital economy, green technology in ASEAN

The better-than-expected figures show the world's second-largest economy is gaining some steam, after narrowly escaping a contraction in the June quarter and lifting recovery prospects slightly for the rest of the year. Industrial output grew 4.2% in August from a year earlier, the fastest pace since March, according to the National Bureau of Statistics (NBS). That beat a 3.8% increase expected by analysts in a Reuters poll and July's 3.8% expansion. Retail sales rose 5.4% from a year ago, the fastest pace in six months and also beating forecasts for 3.5% growth and the 2.7% gain in July. "This is due to a lower base for comparison – the Delta wave was weighing on economic activity in August 2021," said Julian Evans-Pritchard, a China economist at Capital Economics. Although the upbeat data lifts some of the gloom hanging over the sluggish recovery, which had been clouded by weak trade data and slow credit growth, Evans-Pritchard does not expect the strength to sustain into … [Read more...] about China’s economy perks up but property crisis worsens

Coordinating Minister for Economic Affairs Airlangga Hartarto (Source: ANTARA) Jakarta (VNA) – Digital economy offers new opportunities for Indonesia’s economic growth , according to the country's Coordinating Minister for Economic Affairs Airlangga Hartarto. The country’s digital economy totalled 70 billion USD in value last year, which is poised to reach 146 billion USD by 2025. With digitalisation, more and more business actors in Indonesia are adopting digital technology to innovate and develop their startup companies across the country, and several unicorns have been listed on national and global exchanges, said Minister Hartarto in an event on September 19. The Indonesian government has also been developing the National Digital Economy Framework to encourage collaboration and foster synergy among all relevant stakeholders and ensure the priority of Indonesia's digital economy foundation. It has continued to focus on developing infrastructure facilities, in … [Read more...] about Digital economy offers new opportunities for Indonesia’s economic growth

Prime Minister Pham Minh Chinh addresses the forum (Photo: VNA) The leader underlined the significance of digital transformation as a compulsory task in the national development. Meanwhile, the collective economy is an obvious trend during international economic integration, which is suitable to the socialist-oriented economy, he said. Resolution No.20-NQ/TW released at the fifth session of the 13th Party Central Committee clarified that the collective economy is an important economic sector that needs to be reinforced and developed and, together with the State-owned sector, to become a firm foundation for the national economy, he noted. The Government leader said that over the years, the collective economic sector has seen strong growth in all aspects, including scale, structure, connectivity, and efficiency. Participants at the forum (Photo: VNA) However, it has yet to meet all development targets and requirements, he said, pointing out various difficulties facing … [Read more...] about PM chairs forum on digital transformation role in collective economy,cooperative

Prime Minister Pham Minh Chinh addresses the forum (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh on September 23 chaired a forum on collective economy and cooperatives, which focuses on the role of digital transformation in the development of the sector. The leader underlined the significance of digital transformation as a compulsory task in the national development. Meanwhile, the collective economy is an obvious trend during international economic integration, which is suitable to the socialist-oriented economy, he said. Resolution No.20-NQ/TW released at the fifth session of the 13th Party Central Committee clarified that the collective economy is an important economic sector that needs to be reinforced and developed and, together with the State-owned sector, to become a firm foundation for the national economy, he noted. The Government leader said that over the years, the collective economic sector has seen strong growth in all aspects, including … [Read more...] about PM chairs forum on digital transformation role in collective economy, cooperatives

Minister of Planning and Investment Nguyen Chi Dung addresses the national conference reviewing the 20-year implementation of Resolution No. 13/NQ-TW on the collective economy. (Photo: VietnamPlus) Hanoi (VNA) – Some lessons could be learnt from the implementation of the Party Central Committee’s resolution on the collective economy and from the development of this sector over the last 20 years. The consensus in thought and theory is an important prerequisite for the consensus in action, thus creating conditions for resources to be focused on developing the collective economy. Ministry of Planning and Investment Nguyen Chi Dung made the remark while addressing a national conference on February 15 that reviewed the 20-year implementation of Resolution No. 13/NQ-TW on the collective economy, issued at the fifth plenum of the 9th-tenure Party Central Committee on March 18, 2002, and the 10-year enforcement of the Law on Cooperatives. Potential yet to be fully tapped Minister … [Read more...] about Collective economy’s contribution to national economy remains modest: minister

“An open Vietnamese economy is one of the fastest-growing economies on earth,” he said. In the early 1990s, nearly half of Vietnam survived on just a few dollars a day, and one in four did not have any electricity, he said, adding that it has already increased more than 30 times over, and the Vietnamese students rank among the best students in the world. “That is very impressive,” he commented. He also complimented the Central city of Da Nang, saying that the port city is bustling with ships from around the world. “Engineering marvels, like the Dragon Bridge, welcome millions who come to visit Da Nang’s stunning beaches, shining lights, and ancient charms,” he said. In his speech, President Trump said the US will deal on a basis of mutual respect and mutual benefit. “We will compete on a fair and equal basis. We are not going to let the United States be taken advantage of anymore,” he said. “We will respect your independence and your sovereignty. We want you to be strong, … [Read more...] about US President hails Vietnam as fastest growing economy

A Petrolimex gas station prepares for the listing of new petrol prices.Economist Can Van Luc said CPI is highly sensitive to fuel prices (photo: VNA) Hanoi (VNS/VNA) – Vietnam’s economy has a positive outlook for 2022 despite the emergence of Omicron sub-variants, global geopolitical tensions and mounting input costs , according to Nguyen Quoc Viet, deputy head of the Vietnam Institute for Economic and Policy Research. He was speaking at the workshop "Inflation in 2022: Impacts and policy recommendations" held on September 16. Viet said inflationary pressures have begun to build up but the situation is under control so far. Eight-month Consumer Price Index (CPI) rose by just 2.58% year-on-year, well under the target of 4%. GDP growth hit 7.7% in Q2, the highest quarterly growth in ten years. Eight-month Index of Industrial Production was 15.7% higher than the same period in 2021. Exports fared quite well amid the global trade downturn with an eight-month revenue of … [Read more...] about Bright outlook for economy despite challenges

During the conference jointly held by the Vietnamese Trade Office in Brazil and the Sao Paulo Trade Association,  Vietnamese and Brazilian firms examined ways of ramping up trade promotion and boost co-operation in the fields of farm produce processing, textile & garment leather and footwear making, electronics manufacturing, as well as building materials production. Addressing the event, Vietnamese Ambassador Pham Thi Kim Hoa expressed hope discussions would help accelerate bilateral economic ties, promote trade exchanges, and expand import and export activities between the two countries. Most notably, representatives of various Vietnamese localities introduced their potential and strengths to Brazilian enterprises, affirming they are keen to support co-operation projects with their Brazilian partners. Vu Ba Phu, director of the Vietnam Trade Promotion Agency, spoke highly of the trade turnover between the two countries amid the continued global economic downturn due to … [Read more...] about Vietnam, Brazil seek new business co-operation opportunities