Samsung Electronics Co. built the world’s largest smartphone business by tapping China’s cheap and abundant workforce. Not for much longer: it’s shifting output to Vietnam to secure even lower wages and defend profit margins as growth in sales of high-end handsets slows.
The premium robusta coffee for delivery in January commands over the March futures climbed to a record, signaling tightening supplies as shipments fall from leading producer Vietnam and stockpiles dwindle. Cocoa dropped.
Demand for coffee from Indonesia, the third-biggest producer of the robusta variety, is subdued as lower prices in leading grower Vietnam attract more buyers, according to Volcafe, a unit of trader ED&F Man Holdings Ltd.
Most emerging-market stocks declined, with the benchmark index heading for the first weekly slide in a month, as Thai shares retreated amid political protests and investors weighed the outlook for U.S. stimulus. The baht fell.
Vietnam’s leaders are set to tighten their grip on the economy, affirming the central role of the ruling Communist Party and the dominance of state companies in a revised constitution to be approved this week.
VietJet Aviation Joint Stock Co., Vietnam’s only privately owned airline, aims to double its domestic market share to 50 percent in three years, tapping rising demand for flights in the country of 90 million people.
The rush of foreign investors into Vietnam’s most-favored companies has exhausted the government- limited supply of shares, freezing out some as inflation slows and the economy recovers from the weakest growth since 1999.
Ho Chi Minh City Housing Development Commercial Joint-Stock Bank is in talks with three Japanese finance firms to sell as much as a 30 percent stake, amid a wave of investments in Vietnam from Asia’s second-largest economy.