Vietnam car use soaring

ASIA at a GLANCE

Vietnam car use soaring

HANOI Car demand in Vietnam will reach 38 cars per 1,000 population in 2020 and 50 cars per 1,000 population by 2025, says a forecast by the Ministry of Industry and Trade. It said smaller cars would lead the market, helping to expand manufacturing and supporting industries and reduce the trade deficit.

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Balanced growth in focus

BEIJING China's top economic planning body is shifting its focus to ensuring balanced economic growth, according to a plan approved by the central government. The National Development and Reform Commission (NDRC) will have four vice-ministers, instead of 10 vice-ministers at present. It will also lose some of its responsibilities for energy, industry and price regulation.

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India inflation at 12.63%

NEW DELHI Rising prices of food items such as fruits, vegetables and milk pushed up India's annual inflation rate to 12.63% for the week ended Aug 9 from 12.44% a week earlier. The wholesale price-based index was 4.24% during the corresponding week last year.

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Changes at DBS

SINGAPORE DBS Group's chief financial officer, Jeanette Wong, will be replaced by Chng Sok Hui, head of group risk, in a management reshuffle announced by new chief executive Richard Stanley. Mrs Chng, 47, will take up her new post on Oct 1.

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Olympics help Japan trade

TOKYO A pre-Olympic boost in demand from China enabled Japan's exports to recover somewhat in July following their first fall in five years during the previous month. But surging import costs sent the trade surplus plunging by nearly 90% last month, and analysts forecast renewed deterioration in the trade balance in the coming months.

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Compiled from Vietnam News Agency, China Daily, Press Trust of India, Business Times (Singapore).