Economic news before the transaction (April 5): HSBC lowered its GDP growth forecast to 6.6%, CII sets a plan for a sudden increase in profit

Today’s economic and financial news has outstanding news such as: HSBC lowered its forecast of Vietnam’s economic growth to 6.6%, predicted that GDP will increase by 8.5% by 2022; Gold prices were mixed at the beginning of the new week.

Economic news before the transaction (April 5): HSBC lowered its GDP growth forecast to 6.6%, CII sets a plan for a sudden increase in profit

Investing in infrastructure: China is far ahead, the US is only in its early stages

On March 31, President Joe Biden announced a $ 2,000 billion infrastructure investment proposal, not long after passing the $ 1,900 billion COVID-19 bailout package.

While Washington has only just begun to talk about a $ 2 trillion investment package, Beijing and its private companies have poured trillions of dollars a year into new infrastructure, from traffic to communication network, from water supply projects to production facilities.

The US could add 19 million more jobs over the next decade with the infrastructure plan

Speaking at the White House on April 2, Mr. Biden said that if the plan for infrastructure modernization passes, the economy could “add” 19 million more jobs, “good jobs , technical jobs and well-paid jobs.

The comment above is the first comment made by the White House to forecast the employment impact of the US $ 2,250 billion “American Job Plan”, published on March 31.

Trade disruption between the UK and the EU after Brexit persists

According to the Survation survey conducted by London First / EY in February 2012 and announced on April 3, many businesses expect this situation to last for a while.

A London-Brussels trade agreement, which went into effect on January 1, 2021, means businesses have to deal with the bureaucracy and new rules.

Economic news before the transaction (April 5): HSBC lowered its GDP growth forecast to 6.6%, CII sets a plan for a sudden increase in profit

HSBC lowered its forecast of Vietnam’s economic growth to 6.6%, and predicted that GDP 2022 would increase by 8.5%

According to a report released by HSBC, this bank forecasts that Vietnam’s GDP in 2021 will grow by 6.6%, a decrease of 0.4% compared to the previous report.

HSBC experts said that Vietnam had to experience the third outbreak in February 2021, everything was quickly put under control within a month. HSBC said that thanks to that, Vietnam’s economy will start in 2021 on a solid foundation.

PV GAS is expected to gain more than VND 2,200 billion in profit in the first quarter

With oil and LPG prices fluctuating and increasing compared to the plan, PV GAS has exceeded financial targets.

In which, total revenue reached 17,845 billion VND, equal to 102% of the quarter plan. Profit before tax reached 2,806 billion VND; Profit after tax increased by 6% to VND 2,234 billion and exceeded 27% of the quarter’s plan.

Regarding construction investment, the disbursement value of PV GAS reached 1,713 billion VND, equivalent to the plan set out.

It is estimated that Vietnam Airlines has a heavier loss than before in the first quarter of 2021

According to the Vietnam Aviation Administration, our country’s airlines operated a total of 38,588 flights in the first two months of 2021, a decrease of nearly 37% over the same period last year. Particularly, Vietnam Airlines decreased by nearly 41%, to 12,945 flights.

HSC estimates that Vietnam Airlines will have a net loss of VND 4,250 billion in Q1 / 2021, significantly higher than a loss of VND 2,589 billion in the first quarter of 2020 (when the peak season of Tet is not affected by disease) and 11 times higher , 4 times of quarter IV / 2020 (when applying other depreciation methods).

CII targets a sudden increase in profit, and is researching BOT projects of more than 40,000 billion dong

Specifically, this year, CII set a business plan with revenue of 6,700 billion dong, parent company’s after-tax profit target to reach 615 billion dong, up 24 percent and 142 percent, respectively, compared to 2019 results.

Regarding the capital mobilization plan, CII plans to issue 1,600 billion dong of bonds attached with warrants and mostly invest in existing projects such as Trung Luong – My Thuan Expressway, Son Tinh Residential project, … .CII determines this is a big project and an important source of income for the company in the coming time.

Economic news before the transaction (April 5): HSBC lowered its GDP growth forecast to 6.6%, CII sets a plan for a sudden increase in profit

Gold price today April 5: Mixed movements at the beginning of the new week

In the morning session on April 5, the spot gold price dropped 0.06% to 1,729.1 USD / ounce at 6:40 am (Vietnam time), according to kitco. While the price of gold delivered in June increased by 0.05% to 1,729.2 USD / ounce.

Gold prices fluctuated in opposite directions in the morning session on Monday (April 5) when the USD rebounded. A strong dollar makes gold more expensive for buyers of other currencies.

Which bank shares will be added to the VN Diamond basket?

Based on the data as of March 29, VNDirect forecasts 4 new banking stocks (ACB, VIB, MSB and EIB) and TCM will be included in the VNDiamond index, while KDH will be taken out of the VNDiamond basket. The number of constituent shares in this index will increase to 17 during the period of May 2021 – 11/2021.

Source: vietnambiz.vn – Translated by fintel.vn

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