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Vietnam quarterly growth hits 2-year high on exports, investment

Published
6 months agoon
By
Ekwutos BlogDespite the devastation from Typhoon Yagi, Vietnam’s economy posted even better economic growth in the third quarter
Vietnam reported its strongest economic growth in two years in the quarter to the end of September, as strong exports and industrial production and rising foreign investment offset the effects last month of Asia’s strongest typhoon so far this year.
Gross domestic product grew 7.4 per cent year-on-year in the third quarter, surpassing the second quarter’s revised 7.09 per cent expansion, the government’s General Statistics Office said in a report.
Vietnam is a regional manufacturing hub for multinational corporations including Samsung Electronics and Apple suppliers Foxconn and Luxshare, and has drawn a steady influx of foreign investment.
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“The world economy is stabilising as global trade in goods improves, inflationary pressures ease, financial conditions continue to loosen and labour supply increases,” the statistics office said.
Data for September showed that exports rose 10.7 per cent from a year earlier while industrial production was up 10.8 per cent, it said.
Foreign investment inflows in the first nine months of this year rose 8.9 per cent from a year earlier to US$17.3 billion.
Northern Vietnam has been reeling from the impact a month ago of Typhoon Yagi, which killed more than 300 people, disrupted power supplies and halted industrial production. Authorities estimated property damage at US$3.3 billion.
S&P Global’s purchasing managers index (PMI) for Vietnam manufacturing fell to 47.3 in September from 52.4 in August, the biggest decline in the indicator of the sector’s health since November last year.
“The storm brought an end to a period of strong growth in the sector,” said Andrew Harker, director at S&P Global Market Intelligence. “Heavy rain and flooding caused temporary business closures and delays to both supply chains and production lines.”
Vietnam is targeting GDP growth of 6 per cent to 6.5 per cent this year and aims to keep inflation below 4.5 per cent.
Consumer prices in September rose 2.63% from a year earlier, the statistics office said in its Sunday report. Retail sales rose 7.6%.
For the first nine months of this year, exports rose 15.4 per cent from a year earlier to US$299.63 billion while imports were up 17.3 per cent at US$278.84 billion, for a trade surplus of US$20.79 billion, the office said.
The International Monetary Fund late last month forecast Vietnam’s GDP growth at 6.1 per cent this year, while the Asian Development Bank put it at 6 per cent.
This year’s growth is “supported by continued strong external demand, resilient foreign direct investment, and accommodative policies”, the IMF said in a report.
Both the IMF and the ADB, however, warned that geopolitical tensions and uncertainties could hurt external demand, Vietnam’s key growth driver.
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This article originally appeared on the South China Morning Post (www.scmp.com), the leading news media reporting on China and Asia.
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Afghan’s claim he is 140 years old is investigated by the Taliban

Published
3 days agoon
April 4, 2025By
Ekwutos Blog
The Taliban is investigating an Afghan man’s claim that he is 140 years old – which would make him the oldest person ever to have lived.
Aqel Nazir, who lives in the country’s eastern Khost province, says he was born in the 1880s.
He claims to remember celebrating the end of the Third Anglo-Afghan War in 1919 alongside King Amanullah Khan, the Afghan leader who launched a campaign against the British, while in his thirties.
Nazir, who lives in the picturesque hills in Khost, said: ‘I was in the palace with King Amanullah Khan.
‘I was over 30 at the time and I remember saying that the British had fled and knelt down.
‘Everyone was happy and thanked King Amanullah Khan for chasing the British away.
‘Many leaders accompanied us to the Arg [presidential palace], but now all of them have passed away.’
The great-great grandfather does not have any documents to support his claim, but his family are also on board with gaining official recognition of his status.

Aqel Nazir, who lives in the country’s eastern Khost province, says he was born in the 1880s

The ruling Taliban administration has dispatched a a special civil registration team to assess his true age
Khyal Wazir, his 50-year-old grandson, said: ‘He is my grandfather, and I have my grandchildren as well.’
Another grandson, Abdul Hakim Sabari, said: ‘We request the government confirm our grandfather’s age using an ID or any other scientific method or documents, to prove he is 140 years old.’
In an attempt to solve the mystery, the ruling Taliban administration has dispatched a a special civil registration team to assess his true age.
Mustaghfar Gurbaz, a Taliban spokesman for the province, said: ‘If confirmed by documents or assessments, we will work to register him as the oldest person in the world.’
If verified, he would comfortably take the title of the oldest person to have ever lived.
That record is held by Jeanne Calment, who was born in 1875 and passed away in 1997, 122 years later.
The world’s current verified oldest living person is Inah Canabarro Lucas, a Brazilian nun who turned 116 last June.
Another Brazilian woman, Deolira Gliceria Pedro da Silva, is hoping to have her own claim to be 120 years of age verified by Guinness World Records.
But experts have already cast doubt on Nazir’s claims.

The world’s current verified oldest living person is Inah Canabarro Lucas

The Brazilian nun turned 116 last June
Valery Novoselov, a geriatrician at Moscow State University, told Russian outlet AIF: ‘There are no reliably registered men on the planet older than 114 to 115 years [of age].
‘In the Caucasus in the 60s, they also recorded “long-livers” – shepherds who allegedly lived to 168 years.
‘These are so-called games with age. There are no documents, no reliable data – which means this is an unrealistic picture.’
In 2015, a man claiming to be 100 years old applied for asylum in Germany after an extraordinary eight-month journey from Afghanistan.
Like Nazir, Abdul Qadir Azizi did not have any identity papers, but his family claimed his year of birth was 1905.
Azizi, who is deaf and blind, spent one month travelling across two continents from his home in the Afghan town of Baghlan to reach Germany.
His family fled after three of Azizi’s sons were killed by the Taliban.
The plight of the elderly in Afghanistan has worsened since the Taliban takeover.
In 2024, they effectively abolished the pension system, leaving many older Afghans struggling to meet basic needs.
Previously, anyone over the age of 65 received a monthly payment of around $100 from the state.
Columns
Tourists lament cancellation of 2025 Eid-el-Fitr Durbar in Kano

Published
3 days agoon
April 4, 2025By
Ekwutos Blog
Several tourists have expressed disappointment over the abrupt cancellation of the 2025 Eid-el-Fitr Durbar, a popular traditional horse-riding festival, in Kano State.
More than 160 tourists had traveled to Kano to witness the annual Sallah Durbar, which is renowned for its grandeur and cultural significance. The cancellation, announced shortly before the event, left many visitors disheartened.
Speaking at a press briefing in Kano, Mr. Virgil Taylor, a tourist from the United States who spent a year planning his trip, described the experience as disheartening. He arrived in Nigeria on March 28, 2025, only to learn of the Durbar’s cancellation.
“Kano Durbar, as I understood from my research, was the biggest Durbar to visit. I only learned that the Durbar was canceled when I arrived in Kano. I was terribly disappointed because I had made significant financial commitments to the trip, arranging everything in advance,” Taylor said.
The first-time visitor to Nigeria noted that the Durbar represented a unique and historic opportunity for him, one he had long anticipated. Despite the setback, he appreciated the efforts of the Executive Secretary of the Kano State History and Culture Bureau, Mr. Ahmad Yusuf, and Governor Abba Kabir Yusuf, for providing alternative experiences for tourists.
Taylor, however, urged the Federal Government to minimize the issuance of security threats that could deter investors and tourists from visiting Nigeria. “Despite the financial cost, I consider my visit a blessing and would consider returning, hoping not to be disappointed again,” he added.
Similarly, Lekan Yusha’u, a UK-based Nigerian and polo agent, expressed frustration over the cancellation. He noted that his visit, along with the invitation extended to his friends, was largely inspired by UNESCO’s recognition of the Durbar as part of its heritage program.
“They have never ridden a horse in such a long procession. My goal, along with a couple of friends, was to ensure that within the next year, we put the Kano Durbar procession in the Guinness World Records. Kano Durbar has the largest gathering of horses in the world, with over 4,000 horses participating in a single procession,” Yusha’u said.
He revealed that he had spent over £6,000 on his flight alone, excluding other expenses, and had met over 160 foreign tourists who had come for the same event.
Yusha’u urged the Kano State Government to capitalize on the event’s global appeal, emphasizing that the Kano Durbar is unique to northern Nigeria.
“Both the state and federal government should not disappoint us again by canceling the Kano Durbar,” he said.
The annual Durbar festival in Kano is a cultural showcase that attracts visitors from around the world, featuring colorful horse parades, traditional dances, and displays of local heritage.
Columns
I got married to man who wasn’t financially sound – Michelle Obama admits

Published
4 days agoon
April 3, 2025By
Ekwutos Blog
Former U.S. First Lady Michelle Obama has admitted that Barack Obama was “not financially sound” when she met him.
The couple met in 1988 when Barack took a job at a law firm in Chicago where Michelle was already working.
Speaking on the podcast she hosts with her brother, Craig, Michelle spent much of their most recent episode discussing the importance of having a partner with financial stability.
Talking with British author Jay Shetty, Craig put the question directly to his famous sister.
He asked, “Would you be attracted to a guy who’s not financially sound when you meet him?”
Michelle immediately responded, “Uh, I married one.”
Craig then laughed and admitted to his sister that he’d set her up.
“Don’t you like that alley-oop I just threw you? In basketball, you just point—you don’t even have to say it,” he said.

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