economic crisis

Update news economic crisis

Coronavirus: Worst economic crisis since 1930s depression, IMF says

Global economic growth will turn "sharply negative" this year due to the pandemic, the IMF warns.

Ten-year cycle of recessions does not always occur: economists

Not many economists believe in the theory that economic crisis happens once every 10 years. However, they are showing concerns about the internal problems of the economy.

Can Vietnam escape the '10-year crisis cycle’?

‘High expectations’ and ‘excessive optimism’ were the phrases used by Huynh The Du, training director of the Fulbright Economics Teaching Programm (FETP), in describing the 10-year crisis cycle.

Biz conditions need to improve

 VietNamNet Bridge – Vu Tien Loc, president of the Viet Nam Chamber of Commerce and Industry (VCCI), talks with Nhan Dan Cuoi Tuan Newspaper about creating a good business environment in Viet Nam.

VN bad debt problem needs more clarity, multiple solutions

 VietNamNet Bridge – People don't have the responsibility to cover for bad debts created by enterprises, economist Nguyen Minh Phong spoke to the Khoa Hoc &Doi song (Science and Life) newspaper.

Recession 'led to 10,000 suicides'

 The economic crisis in Europe and North America led to more than 10,000 extra suicides, according to figures from UK researchers.

Italian new gov't wins vote of confidence in Senate

 The Italian new government won the vote of confidence in the Senate early Tuesday, after Prime Minister Matteo Renzi pledged to work for radical and immediate changes to revive the country's recession-gripped economy.

Vietnam advances on global ICT map

 VietNamNet Bridge – The latest White Book on Viet Nam's Information and Communications Technology (ICT) outlook shows that it has become brighter on the global ICT map, despite the domestic economic downturn.

People in rural areas become poorer

VietNamNet Bridge – The economic crisis have delivered a hard blow to people in rural areas, with many families sending relatives to urban areas to look for better income while those who stay back are also facing severe poverty,

Cyprus unveils roadmap to lift capital controls

 A roadmap was announced Thursday to lift capital controls in force since March but without a clear timeline for when they will be scrapped, as the EU state battles its economic crisis.

Corruption seen on the rise, global study finds

 More than half of respondents in a global corruption survey released Tuesday think that graft has worsened over the past two years, and a quarter reported having paid officials a bribe in the last 12 months.

WTO cuts 2013 global trade growth forecast to 3.3%

 The World Trade Organisation (WTO) on Wednesday cut its forecast for global trade growth in 2013 to 3.3 percent, from the previous prediction of 4.5 percent.

Economic crisis, crime dominate CARICOM meeting

 The global economic crisis and high crime rates afflicting most member states of the Caribbean Community (CARICOM) dominated the group's meeting Monday in Port-au-Prince, Haiti,

VNAT reports high growth, travel firms still suffer

The Vietnam National Administration of Tourism (VNAT) has been joyful with the record high number of 6.847 million foreign travelers in 2012, an increase of 13.86 percent over 2011

Interest rate down by one percent, but VND remains attractive

The decision by the State Bank of Vietnam to slash the ceiling deposit interest rate by one more percent is believed to make no upheaval to the monetary market. The local currency would still be attractive in the eyes of Vietnamese.

Porcelain manufacturers only get petty pieces of 5 trillion dong cake

The total revenue of the Vietnamese household use porcelain market is estimated at 5.6 trillion dong. Meanwhile, domestic manufacturing workshops can hold just 30 percent of the market share.

Newly born businesses can’t compensate for the losses left by dead businesses

While the Ministry of Planning and Investment (MPI) shows optimism when stating that there have been more newly set up businesses than dead enterprises, economists don’t.

Domestic travel firms as dizzy as a goose

Travel firms have complained that unreasonable tax policies, labor force shortage and social security problems have all put them in a stir and hindered their business.

The stories about Tet gifts to workers

In general, the Tet gift to workers at the end of the year is money. However, in the current economic difficulties, bricks, rice, garments and telephone cards all can be the “Tet bonuses.”

Big guys rush to withdraw capital from property projects

A lot of the big guys in the real estate sector have offered to sell stakes in real estate projects. It seems that they have run out of patience in the long spell of cold market.