Investors are looking ahead to a possible meeting between Donald Trump and Xi Jinping at the G20 next month. (Photo: AFP/Fred Dufour) After more than doubling tariffs on US$200 billion of Chinese goods last week - sparking retaliation from Beijing - the US president has threatened to hit a further US$300 billion with more levies if he does not get his way in high-stakes talks. However, in a series of tweets Tuesday, Trump gave markets some hope that a deal between the economic titans will eventually be struck. "When the time is right we will make a deal with China", he wrote, adding that his "respect and friendship with President Xi (Jinping) is unlimited". He went on to say: "We can make a deal with China tomorrow, before their companies start leaving so as not to lose USA business" and said it would be "game over" if the Federal Reserve "matched" Chinese support measures. The remarks, while again accusing China of backsliding in the trade talks, provided some optimism, while weak … [Read more...] about Asian markets tick up after Trump tweets but uncertainty remains
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BUSINESS IN BRIEF 15/4
Saigon Co.op to open 50 more convenience stores Saigon Co.op, the country’s leading retailer, will open an extra 50 Cheers in convenience stores in HCMC in partnership with NTUC FairPrice of Singapore this year, said Nguyen Thanh Nhan, general director of Saigon Co.op. At a 2017 review meeting of Saigon Co.op last week, Nhan said Cheers stores would sell household and consumer goods and operate 24/7. In HCMC, there are already two Cheers stores. Besides Cheers, Nhan said this year Saigon Co.op would open 19 more Co.opmart supermarkets, two more Co.opXtra stores, 150 more Co.opSmile shops and at least one more Co.opmart hypermarket in a high-end residential area. To maintain its position as Vietnam’s leading retailer, Saigon Co.op must focus on expanding the retail network, diversifying products and developing logistics, said Nhan. Saigon Co.op is expected to achieve a 10% increase in total revenue. A report released at the meeting showed that in 2017 Saigon Co.op made some … [Read more...] about BUSINESS IN BRIEF 15/4