Vietnam’s rice exporters continue to rely on the Chinese market. Experts warn Vietnam may fall into the Chinese ‘low-quality rice’ trap. According to the Vietnam Food Association (VFA), Vietnam had exported 2.1 million tons of rice by the end of May, earning $870 million, a decrease of 10 percent in export volume and 13 percent…
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While the cheaper Chinese currency will certainly make tour packages to Vietnam costlier for Chinese tourists, local travel agencies believe the impact of the weakened yuan will not be too serious. Some Vietnamese tour organizers have closed new contracts with Chinese partners with the new yuan-U.S. dollar exchange rate, as China cut the yuan rate…
Eurozone leaders have reached a “unanimous” agreement over a third Greek bailout after marathon talks. EU chairman Donald Tusk said leaders agreed “in principle” on negotiations for the bailout, “which in other words means continued support for Greece”. Greece will now have to pass reforms demanded by the eurozone by Wednesday.
Chan-hom, which struck the southcoast of Shanghai, is the most powerful storm seen by the country in decades according to weather experts. The deadly tornado has already claimed the lives of five people in the Philippines. And more than 20 people were injured in southern Japan before the storm hit China. The devastating cyclone dumped…
Malaysia Airlines is “technically bankrupt”, its chief executive has said, as he announced a restructuring programme and plans to cut about 6,000 jobs. The announcement follows the twin air disasters which forced its nationalisation last year. The airline said it had “offered jobs” to 14,000 of its 20,000 workforce. The move was expected and follows…