Advertisements Bitcoin Vietnam Co., Ltd., the oldest cryptocurrency exchange in the country, is having its domain name, bitcoin.vn, seized by the Vietnamese government. The Ministry of Information and Communications (MIC) has also decided to fine the company 40 million VND (approximately $1,758) for illegal social networking and setting up an illegal site. Bitcoin Vietnam HasContinue reading “Vietnam’s Biggest Bitcoin Exchange Has Its Domain Seized by Government”
Category Archives: Finance
FIEs rush to list shares on Vietnam’s stock market
Advertisements As Vietnam’s stock market has become increasingly attractive to foreign-invested enterprises (FIEs), many of them are planning IPOs (initial public offering) and listing shares on the Hanoi and HCM City exchanges. Jollibee Foods Corp from the Philippines is going ahead with an IPO for its Highlands Coffee chain by 2019. In 2017, Siam Brothers,Continue reading “FIEs rush to list shares on Vietnam’s stock market”
Vietnam TPBank issues ATM card through LiveBank
Advertisements Vietnam’s Tien Phong JSC Bank (TPBank, TPB.HSX)has updated a new function of issuing ATM cards to customers through LiveBank – the first auto banking system in Viet Nam. Nguyen Hung, TPBank’s CEO told the reporter of VNS that, customers just click on the machine to connect with bank staff and provide their ID cardContinue reading “Vietnam TPBank issues ATM card through LiveBank”
Shares rebound on blue-chips
Advertisements Shares rebounded yesterday as large-cap stocks returned to positive territory following the index’s two-day decline. The benchmark VN Index rose nearly 0.03 per cent to close at 1,026.80 points. It had fallen 0.25 per cent in the previous session. Vietnam News reported on Friday On the Hanoi Stock Exchange, the HNX Index increased byContinue reading “Shares rebound on blue-chips”
Penalties imposed on defendants involved in Trust Bank case
Advertisements The Ho Chi Minh City People’s Court on May 4 gave punishments from three-year suspended prison sentences to seven-year imprisonment to the defendants charged with “violating regulations on lending in activities of credit institutions” at Dai Tin Commercial Joint Stock Bank (Trust Bank), the predecessor of the Vietnam Construction Bank (VNCB). According to theContinue reading “Penalties imposed on defendants involved in Trust Bank case”
Vietnam welcomes Chinese investment capital, but remains wary about risks
Advertisements Chinese FDI (foreign direct investment) flow to Vietnam has been increasing rapidly recently as Vietnam is one of the destinations included in China’s ‘One belt, one road’ strategy’. According to the Foreign Investment Agency (FIA), China registered 76 investment projects in Vietnam worth $205.7 million, ranked third among foreign investors in number of projectsContinue reading “Vietnam welcomes Chinese investment capital, but remains wary about risks”
Former Ocean Bank CEO borrows money to escape death penalty
Advertisements Former CEO of the Ocean Bank, Nguyen Xuan Son, has been given a death sentence for embezzlement, abuse of power and violating state economic management regulations in one of the country’s largest corruption cases The family of Nguyen Xuan Son, the former CEO of the Ocean Bank, is borrowing money to repay the appropriatedContinue reading “Former Ocean Bank CEO borrows money to escape death penalty”
Commonwealth Bank Lost Data From 20 Million Customer Accounts
Advertisements Australia’s largest bank has admitted it lost the financial statements of 20 million accounts. The Commonwealth Bank insists that customer security has not been compromised as the statements did to contain customer passwords or pin numbers. The statements did include customer names, addresses, account numbers and transaction history. The data was held on aContinue reading “Commonwealth Bank Lost Data From 20 Million Customer Accounts”
Techcombank starts trading on Vietnam, HCMC stock exchange from June 4
Advertisements Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is poised to commence trading on the Ho Chi Minh City Stock Exchange (HoSE) on June 4 following its nearly $1-billion IPO, the bank announced on April 27. The bank said, it successfully sold more than 164 million shares, equivalent to 14 per cent of itsContinue reading “Techcombank starts trading on Vietnam, HCMC stock exchange from June 4”
More companies lift foreign ownership limit to 100%
Advertisements Three companies have opened up the foreign ownership limit to 100%, the State Securities Commission announced. They include Vietnam-Italy Steel JSC (VIS), Petrovietnam Fertilizer & Chemicals Corp (DPM) and confectionery Kido Group (KDC). This decision was approved in the three companies’ annual shareholders meetings this year. These companies are among the leading ones inContinue reading “More companies lift foreign ownership limit to 100%”
VN-Index losses over 21 points after holidays
Advertisements Vietnam’s benchmark VN-Index fell 21.18 points to close at 1,029.08 points on May 2 when the stock market reopened following the National Reunification Day and the International Labour Day. More than 183 million shares were traded on the Ho Chi Minh Stock Exchange at total value of over 5.7 trillion VND (250.8 million USD)Continue reading “VN-Index losses over 21 points after holidays”
Going Digital In Banking — DBS, Citi, BBVA, ING Lead The Way
Advertisements DBS, the Asian bank headquartered in Singapore, was the first to be named the world’s best digital bank by Euromoney in 2016. When just about every money center, regional, community bank and credit union promotes itself as a digital leader, Euromoney looked for more than talk. “Leaders in digital banking talk about the differenceContinue reading “Going Digital In Banking — DBS, Citi, BBVA, ING Lead The Way”
Real estate firms in a spin over condotel oversupply in Vietnam
Advertisements Only 19 percent of the new holiday homes on the market sold in the first quarter of this year. Real estate organizations in Vietnam are concerned that 2018 could be a difficult year for the local condotel market due to oversupply. About 23,000 condotels were built last year in Vietnam, according to the HoContinue reading “Real estate firms in a spin over condotel oversupply in Vietnam”
Singapore Just Edged Out Vietnam as Asia’s Top Stock Market
Advertisements 2018 Scorecard: Straits Times Index up 6.2%, VN Index up 4.6% Investors remain skeptical on whether the rally can continue There’s been lots of competition for the title of Asia’s best-performing stock market this year. Among the major equity indexes in the region, eight have climbed to records in the first four months alone.Continue reading “Singapore Just Edged Out Vietnam as Asia’s Top Stock Market”
Southeast Asian stocks slip ahead of Fed decision
Advertisements Southeast Asian stock markets were mostly lower on Wednesday ahead of the US Federal Reserve’s upcoming policy statement where investors await clues on the future pace of monetary tightening. The Reuters reports, Malaysian stocks snapped a three-session gaining streak to fall 1.3 per cent on broad-based losses. CIMB Group Holdings Bhd was the biggestContinue reading “Southeast Asian stocks slip ahead of Fed decision”