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Vietnam quarterly growth hits 2-year high on exports, investment
Published
3 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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New Year: Yahaya Bello Receives Governor Ododo’s Parents
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29 mins agoon
January 3, 2025By
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Former Governor of Kogi State, Yahaya Bello, on Thursday, received the parents of his successor, Governor Ahmed Usman Ododo, at his residence in Okene.
The visit of the Governor’s parents, Alhaji Ahmed Sani and Hajia Habibat Ahmed Sani, further demonstrated the enduring bond between the two families and their continued commitment to the progress of Kogi State.
In his remarks while hosting the couple, former governor Bello expressed his gratitude for their steadfast prayers and unwavering support.
He commended their immense contribution to the upbringing and moral foundation of their children, which he noted had shaped Governor Ododo into a disciplined and compassionate leader.
Bello extolled Mr. and Mrs. Ahmed Sani for their exemplary parenting, emphasizing that their teachings and values were evident in the character and leadership of their son.
He noted that identifying Ododo as his successor was not by chance but a deliberate decision, adding that he had recognized him as a compassionate leader who prioritizes the well-being of the people.
He said he was confident Ododo would build on the achievements of his administration for the overall benefit of the state.
“Your son is a worthy successor. His compassion for the plight of our people and his commitment to the state’s development have stood out. I have no doubt that his tenure will strengthen the foundation we’ve built and propel Kogi State to greater heights,” the former governor said.
In response, Alhaji Ahmed Sani expressed profound gratitude to the former governor for the trust and confidence he placed in Governor Ododo, describing it as a rare and commendable gesture.
Alhaji Sani also acknowledged the legal and political battles Yahaya Bello had faced, referring to them as divine tests that all great leaders must endure.
He expressed the confidence that these challenges were stepping stones to greater opportunities and elevation in Bello’s political career.
The elated parents of Governor Ododo offered prayers for Yahaya Bello, asking for continued divine protection, guidance, and blessings in his future endeavours.
They emphasised their belief that Bello had yet to fulfill the full extent of his God-ordained destiny.
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Vikings who invaded Britain were actually returning to their homeland
Published
7 hours agoon
January 2, 2025By
Ekwutos BlogRevelatory new DNA analysis has suggested that people with Nordic heritage could be found in Britain centuries before the Vikings first arrived.
According to this new analysis, the Nordic presence in the UK even pre-dates the arrival of the Anglo-Saxons on these shores, with the first Scandinavian settlers in the UK thought to have fought as gladiators.
The findings stem from the discovery of remains in York, which upon further research was found to have lived at some stage between the second and fourth centuries AD.
An individual was found buried in a cemetery on Driffield Terrace in York and it is thought they were either a ‘gladiator or soldier’.
The Vikings first arrived in Britain in 793 AD, while the Anglo-Saxons’ first noted presence was in 449 AD, therefore suggesting that Nordic genes were the earliest to appear in Britain.
Researchers from the Frances Crick Institute in London used high-tech DNA analysis to help identify three separate waves of migration in Europe roughly two millennia ago.
The first wave saw people migrate from parts of Northern Germany and Scandinavia southwards into central Europe over the first 500 years AD.
Britain was not the only area with a significant Scandinavian DNA found during this period though, with Germany, Italy, Poland and Slovakia all offering up similar results.
It is this Nordic influence which saw the evolution of the modern English and German languages.
Inverse migration also occurred according to the new research, with some Europeans moving northwards into Scandinavia. This is known due to the analysis of teeth fragments found in Sweden.
During what remains the most familiar wave of migration, the Viking hordes settled across Europe, with many battles breaking out particularly in England.
This led to famous battles such as the Battle of Stamford Bridge and the Lindisfarne Priory raids.
In order to collate the data, researchers used a process called Twigstats, which can recreate ancestry by looking at how many genetic mutations are shared between individuals.
‘It allows us to see what we couldn’t before, in this case migrations all across Europe originating in the north of Europe in the Iron Age, and then back into Scandinavia before the Viking Age,’ said Leo Speidel, lead author of the study, who now works at Riken, a scientific institute in Japan.
‘Our new method can be applied to other populations across the world and hopefully reveal more missing pieces of the puzzle.’
Peter Heather, a professor of medieval history at King’s College London, a co-author of the study, said: ‘Historical sources indicate that migration played some role in the massive restructuring of the human landscape of western Eurasia in the second half of the first millennium AD which first created the outlines of a politically and culturally recognisable Europe.
‘But the nature, scale and even the trajectories of the movements have always been hotly disputed. Twigstats opens up the exciting possibility of finally resolving these crucial questions.’
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Comedian Deeone Clears the Air on Verydarkman’s NGO Account Controversy
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Nigerian comedian Deeone has weighed in on the recent controversy surrounding social media critic Martins Otse, aka Verydarkman, and his NGO account. Verydarkman had claimed that his account was hacked, resulting in the theft of N180 million, sparking widespread outrage on social media.
However, singer Dammy Krane later revealed that the incident was merely a prank. Deeone has now investigated the matter and asserts that there is no evidence to support the claim that funds are missing from Verydarkman’s NGO account.
Deeone expressed concern about Verydarkman’s sudden change in behavior, urging fans to check in on him.
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