Advertisements Gold prices rose on Monday as worries over a surge in COVID-19 infections globally dented optimism about a swift economic rebound, driving investors towards the safe-haven metal. Spot gold was up 0.2% at $1,773.41 per ounce by 0506 GMT. Prices were $5.65 shy of a near eight-year high of $1,779.06, hit last week. U.S.Continue reading “Gold rises during Covid-19 epidemic”
Category Archives: Finance
Economy in Vietnam still grows despite pandemic
Advertisements Vietnam’s economy unexpectedly grew in the second quarter, though at the slowest pace in at least a decade, as exports slumped because of the coronavirus pandemic. Gross domestic product rose 0.36% from a year earlier, compared with a revised 3.68% in the first quarter, the General Statistics Office said Monday in Hanoi. The medianContinue reading “Economy in Vietnam still grows despite pandemic”
Manulife is emerging as the leading bidder for Aviva Vietnam Insurer Unit
Advertisements Manulife Financial Corp. is emerging as the leading bidder for Aviva Plc’s Vietnamese unit as it eyes further expansion in southeast Asia, according to people familiar with the matter. The Canadian insurer is weighing a deal that would include a so-called bancassurance agreement with Aviva’s local partner Vietnam Joint Stock Commercial Bank for IndustryContinue reading “Manulife is emerging as the leading bidder for Aviva Vietnam Insurer Unit”
Vietnam’s e-commerce growth rate exceeds 32 percent last year
Advertisements The Vietnam e-Commerce and Digital Economy Agency under the Ministry of Industry and Trade on June 25 said that the country’s e-commerce growth rate exceeded 32 percent last year. The scale of retail e-commerce of consumer goods and services was at US$11.5 billion last year. The Vietnam E-commerce Association forecasted that the growth rateContinue reading “Vietnam’s e-commerce growth rate exceeds 32 percent last year”
I bet you haven’t heard of this. What is a SPAC in the investment world?
Advertisements Special-purpose acquisition companies, or SPACs, are having a big moment recently. Led by some of 2020’s buzziest new stocks, a stampede of SPAC initial public offerings has hit the U.S. market over the past six weeks. You may have heard of them referred to as “blank check” companies, SPAC’s raise money from investors inContinue reading “I bet you haven’t heard of this. What is a SPAC in the investment world?”
World Bank and the Australia support Vietnam US$3.4 million in the Covid-19 fight
Advertisements The World Bank Group and the Australian government have committed a further AUD5 million (US$3.4 million) to supporting Vietnam’s economic recovery and protecting the most vulnerable from the negative impacts of the COVID-19 pandemic, the bank said in a press release on Wednesday. The fund, provided by the Australian government and administered by theContinue reading “World Bank and the Australia support Vietnam US$3.4 million in the Covid-19 fight”
HDBank joints hands with ADB to boost trade in Vietnam
Advertisements Vietnam’s HDBank has signed a credit agreement with the Asian Development Bank’s (ADB) Trade Finance Program (TFP) to support Vietnamese trade. Backed by ADB’s AAA credit rating, the TFP will provide trade loans to HDBank, which it will on-lend to its customers to support their import and export activities. The Global Trade Review reported.Continue reading “HDBank joints hands with ADB to boost trade in Vietnam”
Cryptocurrency investment is not legally recognized in Vietnam
Advertisements A former top police official asked local residents to stay clear of persons calling for investments in cryptocurrencies to avoid being cheated, as drives to mobilize capital for the crypto business are unlawful in Vietnam. Besides breaking Vietnamese laws, investors in cryptocurrencies could also face risks. Cryptocurrencies or virtual money and payments made usingContinue reading “Cryptocurrency investment is not legally recognized in Vietnam”
Vietnam’s Techcombank set a pre-tax profit target of US$559.3 million in 2020
Advertisements The Vietnam’s Techcombank (TCB) has set a pre-tax profit target of VND13 trillion (US$559.3 million) in 2020, increasing slightly one per cent from last year. This target was approved at its annual general meeting of shareholders (AGM) held in Hanoi on Saturday. Answering shareholders’ question about the bank’s modest profit growth goal, Ho HungContinue reading “Vietnam’s Techcombank set a pre-tax profit target of US$559.3 million in 2020”
One in two in Vietnam to make regular e-payments by 2022
Advertisements According to analysts of Robocash Group, 55% of the population in Vietnam will make five and more e-payments weekly during 2021 in contrast to 23% in 2019. At the same time, the share of unsecured consumer loans issued online will approach 70%. Social distancing has caused a shift in consumption patterns and accelerated theContinue reading “One in two in Vietnam to make regular e-payments by 2022”
Executive interview with Bryan Carroll: What makes a digital banking superstar?
Advertisements There are phenomenal companies that have achieved outstanding results in the banking and Fintech industry. Some of them are very well known, but most are not. What makes a digital banking superstar? Working with hundreds of financial professionals in Vietnam and worldwide, we have extracted some recent trends in banking that characterize the approachContinue reading “Executive interview with Bryan Carroll: What makes a digital banking superstar?”
Import tariffs on European cars could be cut
Advertisements Import tariffs on European cars could fall by up to 15.6 percentage points in 2022 under the ratified E.U.-Vietnam trade pact. Sedans with 2,500 c.c. engines or less will have tariffs cut from the current 70.9 percent to 56.7 percent by 2022, according to a Finance Ministry release. For sedans with engines more powerfulContinue reading “Import tariffs on European cars could be cut”
Vietjet Air to set up e-payment firm
Advertisements The Board of directors of Vietjet Air has approved plan to set up an e-wallet service in which it holds 51 percent stake, statement said. The new Vietjet subsidiary is scheduled to have a charter capital of VND50 billion ($2.17 million). Owners of the remaining 49 percent stake have not been disclosed. The carrier’sContinue reading “Vietjet Air to set up e-payment firm”
Will digital financial services support Southeast Asian countries during recession?
Advertisements The advanced digital infrastructure has become one of the supporting factors for developing countries in Southeast Asia amid the current recession. Analysts of Robocash Group say that the region has approached this downturn in better shape. According to their estimates, Indonesia and the Philippines can achieve 2.2-2.8% of the GDP growth this year, VietnamContinue reading “Will digital financial services support Southeast Asian countries during recession?”
Foreign Investors Return to Vietnam Stocks on Lockdown Success
Advertisements Global fund managers are starting to return to Vietnam’s stocks as the Southeast Asian nation emerges relatively little scathed from the coronavirus pandemic. Firms including Ashmore Group Plc and Coeli Asset Management SA have increased holdings in the $174 billion market since March, while foreign investors have been net buyers so far this monthContinue reading “Foreign Investors Return to Vietnam Stocks on Lockdown Success”