The nation's unemployment rate bolted to a 14-year high of 6.5% in October as another 240,000 jobs were cut, the government said today. It was stark proof the economy is almost certainly in a recession.

Companies across the nation are scrambling to find ways to reduce costs as the economy continues in its free-fall, and some see job outsourcing as one way to balance their bottom lines.

Weekly wages in the distribution and business services sectors of the economy rose by 3.4pc in June last, the latest data from the CSO reveals. Average weekly earnings in the distribution sector were E745.43 in June 2008, compared with a June 2007 level o

Vietnam wants to consult the International Financial Company (IFC)’s about restructuring credit institutions, developing banking services and payment system and improving legal documents, said a senior official of the State Bank of Vietnam (SBV).

One man's trash is another man's treasure. But even in these economic times, scrap metals and other recyclables are showing that even these materials aren't recession proof.