Advertisements Vietnam’s stocks rallied the most in seven weeks on Friday, helping the benchmark gauge erase its year-to-date losses. The VN Index rallied 1.2% to close at 961.26, with shares in real estate developer Vingroup JSC, the country’s biggest company by market value, climbing 3.9%. The measure has rallied more than 12% over the pastContinue reading “Vietnam’s stocks reaching 10-month highs, is it time to sell?”
Category Archives: Finance
Gov’t direct debt nears allowable ceiling: NA
Advertisements The Government’s direct debt payment obligations may reach the permissible ceiling of 25% of the 2020 State budget collections and are expected to stand at over 25% of the State budget collections in 2021, it was announced at the 10th sitting of the 14th National Assembly (NA) on October 20. At the sitting, NguyenContinue reading “Gov’t direct debt nears allowable ceiling: NA”
Grab Vietnam and Shinhan Financial partner on digital finance services
Advertisements Shinhan Financial Group said on Oct. 22 that it had signed a memorandum of understanding with the Vietnamese subsidiary of Singapore-based ride-hailing giant Grab to jointly develop new digital financial services. Under the agreement, Shinhan’s startup accelerator unit, Shinhan Future’s Lab Vietnam, and Grab will join hands to nurture budding local enterprises developing newContinue reading “Grab Vietnam and Shinhan Financial partner on digital finance services”
MSB offers a truly digital onboarding experience for its customers with e-KYC
Advertisements Vietnam Maritime Commercial Joint Stock Bank (MSB) has become one of the first banks in Vietnam to offer a truly digital onboarding experience for all customers who are looking to open a bank account, eliminating the need for a physical branch visit fill in paper documents as part of its push towards an electronicContinue reading “MSB offers a truly digital onboarding experience for its customers with e-KYC”
E-commerce market reported a 30% year-on-year decline in revenue
Advertisements During the first four months of 2020, 57% of firms operating in the e-commerce market reported a 30% year-on-year decline in revenue. In case the Covid-19 pandemic continues to pose major risks to the economy in the final quarter of 2020, Vietnam’s e-commerce market could be severely impacted, seeing a revenue loss of US$2.6Continue reading “E-commerce market reported a 30% year-on-year decline in revenue”
Canada stops imposing anti-subsidy duties on Vietnam’s corrosion-resistant steel sheets
Advertisements Canada has decided to stop imposing anti-subsidy duties on corrosion-resistant steel products imported from Vietnam, as well as reducing anti-dumping duties for many enterprises in the Southeast Asian country. Canada officially concluded that the Vietnamese government had not subsidized galvanized steel sheets, also known as corrosion-resistant steel, for local steel producers and exporters, Vietnam’s MinistryContinue reading “Canada stops imposing anti-subsidy duties on Vietnam’s corrosion-resistant steel sheets”
Vietnam is among rare economies to have maintained positive growth in 2020
Advertisements The World Economic Outlook update in October conducted by the International Monetary Fund (IMF) showed that Vietnam and China are among the rare economies in the world to have maintained positive growth in 2020 amid the COVID-19 pandemic. According to IMF, Vietnam’s GDP is forecast to expand 1.6% in 2020 and make a breakthroughContinue reading “Vietnam is among rare economies to have maintained positive growth in 2020”
Ho Chi Minh City merits the role as Vietnam’s leading economic engine
Advertisements Despite the significant impacts of the coronavirus pandemic, Ho Chi Minh City has sustained stable growth, meriting the role as Vietnam’s leading economic engine. In order to maintain such a position, the city’s government and people have been working hard with various measures to make city grow faster and more sustainably. Maintaining growth qualityContinue reading “Ho Chi Minh City merits the role as Vietnam’s leading economic engine”
Executive interview: MSB is one of the pioneering banks in applying advanced risk management standards
Advertisements With the State Bank of Vietnam’s approval to comply with Circular 41, MSB also announced that it has completed the last pillar of Basel II – Internal Capital Adequacy Assessment Process (ICAAP), the bank will move towards higher international risk management standards such as Basel III. Vietnam’s banking sector has been taking radical stepsContinue reading “Executive interview: MSB is one of the pioneering banks in applying advanced risk management standards”
Affordable home shortage plagues Vietnam: government report
Advertisements The housing market has an oversupply of mid- and high-priced units but a shortage in the affordable segment despite large demand. Demand for houses and apartments in the former category, priced at VND25 million ($1,078) per square meter onwards, only accounts for 20-30 percent while the remaining 70-80 percent of the demand is forContinue reading “Affordable home shortage plagues Vietnam: government report”
Saigon Commercial Bank names foreigner new CEO
Advertisements Saigon Commercial Bank (SCB) has announced the decision on appointing Jeremy Chen as its new acting CEO. This appointment is amid the drastic implementation of the “Transformation and sustainable development strategy in phase 2020-2030” at SCB with strategic consultations from McKinsey & Company. Jeremy Chen is believed to deliver rightful directions to SCB forContinue reading “Saigon Commercial Bank names foreigner new CEO”
VIB posts strong performance in first 9 months of 2020
Advertisements Vietnam International Bank (VIB) has just posted its third quarter 2020 financial report, core business segments recorded a breakthrough. The bank continues to invest in technology, branch networks and people, up more than1,500 staffs in the first 9 months of the year. High business growth, strong balance sheet According to the report, in theContinue reading “VIB posts strong performance in first 9 months of 2020”
Banks cut deposit interest rates from October
Advertisements Many banks have cut deposit interest rates after the State Bank of Việt Nam (SBV) lowered the ceiling levels of interest rates from October 1. At Kienlongbank, rates are now only 3.55 per cent per year on one-month deposits, 3.75 per cent on two-month terms and 3.95 per cent on three- to five-month deposits,Continue reading “Banks cut deposit interest rates from October”
VN-Index reaches to eight-month peak
Advertisements The VN-Index rose 0.44 percent to 919.72 points Wednesday, with non-blue chips outgaining large-caps to take the market to an eight-month high. The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, more stocks fall at 217, compared to 187 that rose. However, with 16 mostly non-blue chip stocks hitting theirContinue reading “VN-Index reaches to eight-month peak”
E-wallets loss as customers switch brands frequently
Advertisements People are installing up to 10 e-wallets on their smartphones, but are only using them during sale promotion programs. Hoang Anh Tung in Hanoi installed an e-wallet app on his smartphone as it promised to give VND100,000 for the first payment with the wallet. After Tung paid the electricity bill with the e-wallet andContinue reading “E-wallets loss as customers switch brands frequently”