Eurozone q1 growth

Six services fields in HCMC register lower Q1 growth By Le Anh Shipping containers are handled at the SP-ITC International Container Terminal in HCMC’s District 9 – PHOTO: LE ANH HCMC – HCMC posted solid economic growth in the first quarter of this year but six out of nine key fields in the services sector witnessed lower growth than a year earlier. This was revealed at a city government meeting held earlier today, April 4, to discuss the city's socioeconomic performance. The city reported a gross regional domestic product growth rate of 7.64% in the three-month period to reach roughly VND324.5 trillion (US$13.9 billion). Among the various sectors, services accounted for 63.1%, growing 7.7% from a year earlier. Some services fields, such as trade, finance, banking and insurance, transport and warehousing, tourism, real estate and healthcare, recorded higher year-on-year growth, ranging from 6.6% to 9.1%, but these rates were still lower than in the first quarter … [Read more...] about Six services fields in HCMC register lower Q1 growth

National Assembly deputies visit the Presidential Palace in Ha Noi. — VNA/VNS Photo Nguyen Dan HA NOI — National Assembly Chairman Nguyen Phu Trong said yesterday that in the first quarter of this year, Viet Nam's economic growth rate hit 5.83 per cent, double that of the same quarter in 2009. Trong said that by mid-April of 2010, total budget collection amounted to 29.2 per cent of that forecast, describing this as a promising sign for the country's economic recovery. He was speaking at the seventh session of the 12th National Assembly which opened here yesterday morning. Among participants were Party General Secretary Nong Duc Manh, Prime Minister Nguyen Tan Dung, National Assembly Chairman Nguyen Phu Trong, President of the Viet Nam Fatherland Front Huynh Dam and many senior Party and Government officials. Trong said that social security for citizens could continue to be ensured and that this had considerably contributed to stabilising living conditions. He said these … [Read more...] about Many challenges ahead, despite Q1 growth of 5.83%: NA leader

AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content. Apple earned $111.4 billion in revenue in the first quarter of 2021, blasting past the $100 billion barrier for the first time on double-digit growth across all product categories. Announced before the company's usual conference call with analysts, Apple's revenue of $111.4 billion for the quarter ending December 2020 represents growth of 21% on the $91.8 billion seen one year prior , itself a record-setting set of results. Earnings per share is set at $1.68, comparatively higher than the $4.99 seen in Q1 2020 before the four-way stock split . The gross margin of $44.3 billion is up from Q1 2020's $35.2 billion, while operating expenses are up/down year-on-year to $10.8 billion from $9.6 billion. Net profit is $28.8 billion, an improvement from $22.2 billion one … [Read more...] about Apple’s $111.4B Q1 shatters quarterly record with massive growth across all categories

FMCG growth in value hits highest peak in Q1 By Thanh Thom Customers inspect goods at a supermarket in HCMC on March 28, 2019 – PHOTO: THANH HOA HCMC – The growth in value of the Vietnamese fast-moving consumer goods sector (FMCG) in the first quarter of 2019 rose to a four-year high thanks largely to the shopping spree during the Lunar New Year holiday, or Tet, according to Kantar Worldpanel. The market research firm said in its latest FMCG monitor report that despite the Lunar New Year season in February, Vietnam’s consumer price index was kept under control during the quarter, recording the lowest rate in three years. The domestic demand of consumer goods continued to thrive, posting robust growth of 13%. In the long term, the local FMCG market shows a continued slowdown in four key urban cities, namely the capital city of Hanoi, the central coastal city of Danang, HCMC and the Mekong Delta city of Can Tho, while seeing an impressive performance in rural areas. … [Read more...] about FMCG growth in value hits highest peak in Q1

Q1 target appears difficult to achieve The Saigon Times Daily Employees are at work at a garment company in Vietnam. The GDP growth rate in quarter one may reach an estimated 6.58%, lower than the low growth scenario of 6.76% - PHOTO: THANH HOA HCMC – The gross domestic product (GDP) growth rate in the first quarter of this year is lower than the low growth scenario of 6.76%, Sai Gon Gai Phong news site reported, citing the Ministry of Planning and Investment. Given the figures seen in the first two months of 2019, the GDP growth rate in quarter one may reach an estimated 6.58%. To obtain an economic growth rate of 6.6%-6.8%, as indicated by the first plan established in late November 2018, the Ministry of Planning and Investment has proposed that ministries, departments and authorities of provinces and cities nationwide must intensify their efforts, take advantage of all opportunities for domestic and foreign investments, and focus on measures to shore up … [Read more...] about Q1 target appears difficult to achieve

Fruit, vegetable exports to China lose growth momentum in Q1 By Trung Chanh A customer inspects vegetables at a supermarket. Vietnam’s exports of fruits and vegetables to China dropped in the first quarter of 2019 after years of strong growth – PHOTO: TRUNG CHANH CAN THO – Vietnam’s turnover from fruit and vegetable exports to the Chinese market reportedly lost its growth momentum in the first quarter of this year, falling for the first time after many years of continuous growth. Vietnam exported over US$680 million worth of fruit and vegetables to China in the first quarter of the year, down over 6% year-on-year. Data from the General Department of Vietnam Customs shows that Vietnam’s total export revenue for produce in the given period reached almost US$950 million, dropping by 2.2% against the figure seen in 2018. The fall was attributed to China’s more stringent requirements on unofficial fruit and vegetable imports, including cross-border trade activities. … [Read more...] about Fruit, vegetable exports to China lose growth momentum in Q1

Morgan Stanley has raised its AAPL price target to $164 on blockbuster Apple December quarter results, and said that products like the iPhone could see continued strength in the second quarter. In a note to investors seen by AppleInsider , Morgan Stanley analyst Katy Huberty said that some of the highlights of Apple's Q1 2021 earnings report were "faster iPhone share gains, installed base growth, and services monetization." Those factors, along with a refreshed product lineup and a continued remote education and learning environment, hint at strong double-digit growth over the next several quarters, Huberty said. Other key metrics support an overall faster growth outlook in the long term. They include an acceleration in Apple's installed base growth — from 7% to 10% — and services monetization, as well as a recovery in China. The analyst adds that Apple's gross margin of 39.8% was 160 basis points higher than she modeled. Guidance suggesting upcoming March … [Read more...] about Morgan Stanley raises AAPL to $164 on Q1 2021 results, says Q2 outlook is strong

Vietnam’s economy expands 6.79% in Q1 By Thanh Thom An assembly line of Samsung Electronics Vietnam in the northern province of Bac Ninh. The main driver of the Vietnamese economy in the first quarter of this year is the processing and manufacturing sector – PHOTO: VNA HCMC – Vietnam’s gross domestic product (GDP) in the first quarter of this year rose 6.79% from a year earlier, which was lower than the impressive 7.38% expansion in the first quarter of 2018, the General Statistics Office (GSO) stated in its latest report on the country's socioeconomic performance. The GDP during the quarter was still higher than the growth recorded in the same period from 2009 to 2017 and is very close to the Government’s target of 6.93%. Agriculture, forestry and fisheries sector grew 2.68%, while industry and construction rose 8.63% and services gained 6.5%. They contributed 4.9%, 51.2% and 43.9%, respectively, to the overall growth. According to the GSO, the main driver of … [Read more...] about Vietnam’s economy expands 6.79% in Q1

Vietnam’s non-cash payment market booms in Q1 By Thuy Dung The press briefing announcing the Vietnam Banking 2019 forum in Hanoi today, May 20 - PHOTO: THUY DUNG HANOI – Online and mobile payments have kept booming, with year-on-year growth in the first quarter of 2019 reaching 70% and 97.7%, respectively. The figures suggest that mobile transaction has turned more popular in Vietnam, in tandem with the Government’s push for the development of non-cash payment methods, according to the Payment Department under the State Bank of Vietnam. According to a plan on non-cash payment in Vietnam in the 2016-2020 period approved by the Prime Minister, by the end of 2020, the ratio of cash transactions should be reduced to below 10%. Early this year, the Government issued a resolution supporting a project exploring depositing cash into electronic wallets without via a bank payment account and piloting new payment modes in the banking sector. Commenting on the plan, Nghiem … [Read more...] about Vietnam’s non-cash payment market booms in Q1

Multiple banks post strong earnings in Q1 The Saigon Times Daily A bank teller counts Vietnamese banknotes. Many banks report strong profits in the first quarter of this year - PHOTO: THANH HOA HCMC – Many banks in the country reported strong profits in the first quarter of 2019, with one of them earning VND5.9 trillion, according to the Nguoi Lao Dong news website. At the 2019 annual general meeting on April 23, Tran Minh Binh, general director of Vietnam Bank for Industry and Trade (VietinBank), said that the lender had earned some VND3.1 trillion in profit in the first three months of this year, up over 4% year-on-year, despite a drop in outstanding loans. Explaining the profit growth, Binh said that VietinBank had restructured its customer base with a focus on highly profitable segments. In addition, its earnings from non-credit activities had surged strongly. VietinBank’s shareholders at the meeting approved a plan to distribute over VND5.1 trillion worth … [Read more...] about Multiple banks post strong earnings in Q1