Jakarta (VNA) – Credit ratings agency Fitch Ratings (Fitch) has forecast that Indonesia’s economic growth will contract by 2 percent in 2020, largely attributable to the impact of the COVID-19 pandemic. According to Fitch, the country’s economy will witness a rebound to 6.6 percent growth in 2021, partly driven by a low-base effect, and expects growth momentum to continue at 5.5 percent in 2022, supported in part by the government’s renewed focus on infrastructure development. The Indonesia government has responded swiftly to the crisis with a broad range of relief measures to support households and companies, including small- and medium-sized enterprises, it said. Accordingly, total coronavirus-related government support amounted to 695 trillion Rp (47.93 billion USD), or 4.4 percent of GDP, and included direct cash transfers, provision of basic foods, guarantees and tax incentives. Fitch believed the Indonesian government is likely to resume adhering … [Read more...] about Indonesian economy to contract 2pct in 2020: Fitch Ratings
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DEUTZ AG: Significant decline in business performance in the first half of 2020 due to the coronavirus crisis
About DEUTZ AGDEUTZ AG, a publicly traded company headquartered in Cologne, Germany, is one of the world's leading manufacturers of innovative drive systems. Its core competencies are the development, production, distribution, and servicing of diesel, gas, and electric drive systems for professional applications. It offers a broad range of engines delivering up to 620 kW that are used in construction equipment, agricultural machinery, material handling equipment, stationary equipment, commercial vehicles, rail vehicles, and other applications. DEUTZ has around 4,900 employees worldwide and over 800 sales and service partners in more than 130 countries. It generated revenue of €1,840.8 million in 2019. … [Read more...] about DEUTZ AG: Significant decline in business performance in the first half of 2020 due to the coronavirus crisis
Vietjet to carry stranded passengers from Da Nang to Hanoi, HCM City
Vietjet is a fully-fledged member of International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate. As Vietnam’s largest private carrier, the airline was awarded the highest ranking for safety with 7 stars in 2018 and 2019 by the world’s only safety and product rating website airlineratings.com and listed as one of the world's 50 best airlines for healthy financing and operations by Airfinance Journal in 2018 and 2019. The airline has also been named as Best Low-Cost Carrier by renowned organizations such as Skytrax, CAPA, Airline Ratings, and many others. … [Read more...] about Vietjet to carry stranded passengers from Da Nang to Hanoi, HCM City
Vietnam expects imminent new wave of foreign investment
Don Lam, co-founder and CEO of investment fund VinaCapital, said the COVID-19 crisis exposed serious weaknesses in many supply chains around the world, and the WTO predicts that the pandemic to cause a 30 per cent fall in global FDI flows. The world has in fact been slowly de-globalising since the financial crisis of 2008, he said. … [Read more...] about Vietnam expects imminent new wave of foreign investment
Energy Efficiency Working Group’s proposal tops TUEWAS innovation fund competition
GIZ internal sector network TUEWAS (Transport, Environment, Energy and Water in Asia) called for proposals in May 2020 for innovative and feasible ideas from its Working Groups. Amidst intense competition, the project concept of Digital Small Energy Efficiency Working Group (SEEG) was adjudged the joint best with another idea that falls within the transport and environment Working Group and was rewarded with €25,000. … [Read more...] about Energy Efficiency Working Group’s proposal tops TUEWAS innovation fund competition
