Currently, the country still has about 650,000 tonnes of sugar on inventory, the industry's highest so far, resulting in 17 out of 36 sugar production factories losing money. The Vietnamese sugar industry holds nearly 40,000 tonnes of excess sugar At Son La Sugar JSC, the overstocked sugar volume is nearly 40,000 tonnes with a value equivalent to VND500 billion ($21.74 million). Tuy Hoa Sugar JSC so far still has about 15,000 tonnes, equivalent to more than VND170 billion ($7.39 million). This was brought about by the low price of sugar and weakening demand, leading to high inventories. With these difficulties, the area of sugarcane plantation has been significantly reduced, causing a reduction in Vietnam's sugarcane production. After the 23.47 US cent a pound peak in early October 2016, the price of sugar has fallen due to an oversupply. From the beginning of 2019, the price has increased by 5.7 per cent, showing signs of recovery. However, domestic enterprises have yet to … [Read more...] about Vietnamese sugar industry is suffering from inventory losses
New york tunnel run
Asian markets mixed after US rally, Brexit back to haunt pound
Theresa May will attempt to push her Brexit deal through parliament again next month and has told her Conservative party she will step down if it fails. (Photo: AFP/Ben Stansall) The Brexit saga also moved back into view, with the pound at three-month lows on renewed concerns Britain will leave the EU with no deal as Prime Minister Theresa May tries to push her divorce deal through again. And oil prices sank as trade worries overshadowed tensions in the Middle East where the US and Iran are growing increasingly hostile. New York's three main indexes rose for a third successive day on the back of better-than-expected housing construction data and a dip in US jobless claims, while solid earnings from Walmart and tech firms Cisco Systems and Nvidia reinforced optimism. The figures boosted sentiment after almost two weeks of volatility sparked by Donald Trump's threat, and implementation, of higher tariffs on Chinese imports. The move threw a spanner in the works for high-level China-US … [Read more...] about Asian markets mixed after US rally, Brexit back to haunt pound
Digging deep: Singapore plans an underground future
But that may soon change, as the city-state prepares to unveil an Underground Master Plan in 2019. With some 5.6 million people in an area three-fifths the size of New York City - and with the population estimated to grow to 6.9 million by 2030 - the island nation is fast running out of space. Singapore has been reclaiming land for decades, but that is increasingly unsustainable due to rising sea levels and other impacts of climate change. So the city is going underground. Singapore has already moved some infrastructure and utilities below ground, including train lines, retail, pedestrian walkways, a five-lane highway and air-conditioning cooling pipes. It also stores fuel and ammunition underground. Now, the city wants to go further. "Given Singapore's limited land, we need to make better use of our surface land and systematically consider how to tap our underground space for future needs," said Ler Seng Ann, a group director at the Urban Redevelopment Authority (URA). "Currently, our … [Read more...] about Digging deep: Singapore plans an underground future
BUSINESS NEWS IN BRIEF 21/12
Vietnam, New Zealand networking event discusses CPTPP The Vietnam Trade Office partnered with the Wellington Chamber of Commerce and the ASEAN-New Zealand Business Council to run the Vietnam-New Zealand Free Trade Breakfast last week, discussing various trade issues. The event gathered representatives from enterprises in Wellington and Auckland doing business in or have business transactions with Vietnam together with local trade promotion agencies. It provided an opportunity to network and hear directly from key figures in Vietnam and New Zealand to gain a better understanding of the benefits of the two countries’ trade relations, particularly as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is about to enter into force. Speaking at the event, Vietnamese Ambassador to New Zealand Ta Van Thong gave the attendees an overview of Vietnam’s economy, its CPTPP commitments relating to the domestic business environment, and support … [Read more...] about BUSINESS NEWS IN BRIEF 21/12
District 1 property market on the up
Many customers visit the show house of Novaland’s The Grand Manhattan in HCM City’s District 1 during its launch. VNS PhotoViet Nam News HCM CITY — HCM City’s District 1 has been a magnet for property developers in recent years thanks to its constantly improving infrastructure. Being in the heart of the city, the district is home to government offices, local and foreign companies and shopping centres. The property market in the district, especially the condo segment, always runs hot and prices never come down. In the last 10 years a number of infrastructure works have been completed, including the 12-lane Võ Văn Kiệt Boulevard connecting districts 6 and 8 and provinces to the city’s west, Nguyễn Hữu Cảnh Street connecting the eastern region and the Thủ Thiêm tunnel connecting districts 2 and 9. The district also got a walking street during this period while the first metro route has been under construction … [Read more...] about District 1 property market on the up