Airline industry forecast

Vietnam achieved decent growth in the first quarter despite global geopolitical instability. The socioeconomic statistics report for the first quarter of 2022 of the General Statistics Office published on March 29 stated that GDP in the first quarter was estimated to increase by 5.03 per cent over the same period last year. A day before the report, Fitch Ratings forecast that Vietnam’s growth would recover to 6.1 per cent in 2022 and 6.3 per cent in 2023 thanks to increased domestic consumption, exports, and investment inflows. For the nation’s economic progress, the Power Development Plan VIII (PDP8) is the basis to guarantee the stability of Vietnam’s power source system. According to the Ministry of Industry and Trade (MoIT), by the end of 2021, the total installed capacity of renewable energy sources reach around 20,670MW, accounting for 27 per cent of the total installed capacity of the whole system (76,620MW). Finding the spark to ignite energy goals, illustration … [Read more...] about Finding the spark to ignite energy goals

"Even in the very tough environment we are seeing, our employees have maintained a high quality and reliable service for our customers and this is helping us deliver stellar performance year after year," said Jens Lottner, CEO of Techcombank. Last year, the bank continued to reduce costs while focusing on building deposits in its current accounts and savings accounts (CASA), which Lottner described as a "stable and cheap" source of funding. Techcombank’s CASA ratio, which reflects the percentage of the bank’s total deposits that are CASA, jumped from 46.1 percent in 2020 to 50.5 percent last year, on its way to the bank’s target of 55 percent by 2025. Techcombank’s net interest margin (NIM), a measure of the difference between the interest received by the bank and the amount paid out to lenders, also increased 69 basis points to 5.6 percent during the year. "Together, these improving metrics, along with our effective cost management, translated into an excellent profit before tax … [Read more...] about Techcombank eyes seat at top Southeast Asian banking table

Jakarta (VNA) - Indonesia's trade surplus hit a record high in April, surpassing its peak in last October amid soaring global commodity prices that boosted exports. The National Statistics Agency (BPS) announced on May 17 that Indonesia had registered a surplus for the 24th consecutive month in April, which had more than tripled to 7.56 billion USD year on year and increased 66 percent month on month. Economists forecast that Indonesia will benefit from rising in global commodity prices due to the impacts of the Russia-Ukraine conflict as revenues from the exports of crude palm oil (CPO), coal, and metal ores are higher than the increase in imports. According to BPS, Indonesia ’s exports reached 27.32 billion USD in April, up 47.76 percent year on year. The mining industry had the strongest export growth, almost doubling year on year to 6.41 billion USD.  Meanwhile imports rose 21 percent to 19 billion USD. China remained Indonesia's top export destination, … [Read more...] about Indonesia enjoys largest trade surplus in history in April