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Foreign investment into Vietnam up 7 pct in first quarter
News from Reuters:
HANOI, March 24 | Sun Mar 24, 2013 10:53am EDT
HANOI, March 24 (Reuters) – Foreign direct investment inflows into Vietnam reached $ 2.7 billion in the first quarter of this year, up 7.1 percent from the same period in 2012, a government agency said.
New investment pledges in the January-March period also rose 2.2 percent from a year ago to $ 2.93 billion, the Planning and Investment Ministry said in a report.
Manufacturing industries have attracted most of the new pledges, followed by the real estate sector and the retail and wholesale sector, the report said.
Foreign direct investment, a key source of foreign exchange for Vietnam along with overseas remittances, has fallen since peaking at more than $ 60 billion in 2008, after which the economy started to slow as the government battled high inflation.
(Reporting by Hanoi Newsroom. Editing by Jane Merriman)
…………… continues on Reuters
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Blockbuster UK sold to investment firm, half its stores to close
News from The Verge:
Three months after Blockbuster announced it had gone into administration, the British equivalent of filing Chapter 11 bankrupcy, the company has found a buyer. Reuters reports that Gordon Brothers Europe has purchased 264 Blockbuster stores for an undisclosed sum, and intends to keep them open — it says the acquisition will keep 2,000 of the company’s 4,000 jobs intact, and the 264 stores figure is likewise half of Blockbuster’s roster of 528 locations in the UK.
Blockbuster’s financial woes have been well-documented in both the US and UK, but Gordon Brothers says it had identified “a profitable core portfolio of stores,” and intended to keep existing stores running normally. It’s a lifeline for Blockbuster, certainly, but its new owner acknowledged Blockbuster’s ongoing challeng…………… continues on The Verge
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