HANOI (Reuters) – Asian trade officials will try to tighten the ties that bind their economies when they meet in Indonesia this week in the face of falling demand and quickly fading confidence in developed world economies, exacerbated by the U.S. downgrade.
Officials from the 10 members of the Association of South East Asian Nations (ASEAN) are expected to try to advance plans to form an ASEAN Economic Community by 2015, and for further integration beyond that date, at the meeting on the tropical island of Sulawesi.
HANOI (Reuters) – Anti-China demonstrators staged another in a series of weekly marches in central Hanoi on Sunday, testing authorities’ tolerance of protests on an emotive issue in Vietnamese society.
Up to 200 people singing patriotic songs, carrying banners and flags and chanting slogans drew stares from bemused tourists and honks of approval from motorists as they filed around Hoan Kiem Lake.
HANOI (Reuters) – Vietnam’s parliament approved a new cabinet on Wednesday that is likely to enhance the prime minister’s power and may streamline policy-making during a rough patch for the economy but points largely to continuity in the coming five years.
Analysts see all four deputy prime ministers as supporters of Prime Minister Nguyen Tan Dung, bolstering his control over the $100 billion (61 billion pounds) economy, which is struggling with high inflation, trade and budget deficits and a volatile currency.
HANOI, June 27 (Reuters) – As Vietnam fights to beat back
raging inflation, many of its small and mid-sized businesses –
disadvantaged even in good times — are struggling to survive
Just ask Ngo Thi Bau, general director of Nguyen Tam Foci
Garment Co Ltd, which a Vietnamese consumer magazine for years
dubbed one of Vietnam’s 100 strongest brands.
This year, plunging revenue has led Bau to lay off 60
percent of her Ho Chi Minh City-based firm’s 400 workers. Her
business has been battered by sharply higher consumer prices and
the sky-high interest rates — up to 20 percent — that
borrowers now face.
“It’s impossible to make a profit in manufacturing,” said
HANOI, June 19 (Reuters) – Several dozen Vietnamese
protested in front of the Chinese embassy and marched through
Hanoi for the third Sunday running after Beijing sent one of its
biggest maritime patrol ships into the disputed waters of the
South China Sea.
The demonstration comes amid the biggest flare-up in tension
in years over competing sovereignty claims in the sea, home to
key shipping lanes and fisheries and potentially large deposits
of oil and gas.
HANOI, June 14 (Reuters) – The Asian Development Bank sees a
bit of room left for policy rate hikes in Vietnam, but expects
monthly inflation to start to come down this month and
double-digit annual inflation to begin to ease in August.
Vietnam has been grappling with some of the highest
inflation in the world. It has ratcheted up key interest rates
since late last year and pledged a raft of other measures,
including lower credit and money supply growth and fiscal
HANOI, June 13 (Reuters) – Vietnam’s navy was due to hold
live-fire drills off the central coast on Monday but a senior
naval source sought to downplay the exercises to avoid
exacerbating escalating tensions with China over territorial
disputes in the South China Sea.
China and Vietnam have hurled accusations at each other for
weeks over what each sees as intrusions into its territorial
waters by the other in a swath of ocean crossed by key shipping
lanes and thought to hold large deposits of oil and gas.
HANOI (Reuters) – Vietnamese authorities tolerated a second day of anti-China protests in the capital on Sunday as more than 100 people demonstrated against what they see as bullying behavior by Beijing in an escalating dispute over maritime territory.
In a park in front of the Chinese Embassy the demonstrators waved flags, sang patriotic songs and chanted “Down with China!” and “The Spratlys and Paracels belong to Vietnam,” referring to archipelagos in the South China Sea.
HANOI (Reuters) – Vietnam said on Saturday live-fire naval drills scheduled for Monday were “routine” and said it would welcome efforts by the international community, including the United States, to help resolve disputes in the South China Sea.
Tensions in the region have risen in the past two weeks, with China and Vietnam trading accusations of violating sovereignty in the Sea, home to important shipping lanes and potentially large oil and gas reserves.
HA TINH, Vietnam, June 9 (Reuters) – Vietnam must raise
interest rates further if high inflation persists, a central
bank official said on Thursday, as the International Monetary
Fund urged Hanoi to take a tougher stance against soaring
Confidence in the government’s policies was “fragile”, the
IMF said, and it was essential that the government send “a
strong signal” that it will remain committed to macro-economy
stabilising measures beyond 2011.