January 9, 2012
Ho Chi Minh City police have arrested one Vietnamese and three Malaysian men for allegedly using fake ATM cards to withdraw money from local banks. They are believed to be members of a transnational crime ring. The first arrest, of Co Kim Thach, a 39-year-old resident of District 5, was made on December 30, [...]
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December 17, 2011
Vietnam Tin Nghia, Ficombank and Saigon Commercial Bank will be merged into a new lender. Around 90 percent of shareholders at three local banks, Vietnam Tin Nghia, Ficombank and Saigon Commercial Bank, have voted in favor of the merger of the three. They also reached an agreement Thursday that the new bank formed by the merger [...]
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December 14, 2011
Vietnam's inflation is expected to slow to about 9 percent in 2012 and is under control, Prime Minister Nguyen Tan Dung told the Consultative Group. Vietnam may undermine progress toward economic stability if it loosens monetary policy now, the International Monetary Fund and World Bank said as the nation struggles with the fastest inflation in [...]
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December 9, 2011
A branch of First Commercial Joint-Stock Bank in Hanoi. The bank and two other Vietnamese banks plan to merge to bolster their liquidity. Three Vietnamese banks plan to merge to bolster their liquidity and cut costs as a single entity, the country’s central bank said. First Commercial Joint-Stock Bank, Tin Nghia Commercial Joint-Stock Bank and [...]
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November 26, 2011
An employee at Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, counts dong bank notes in Hanoi. Vietnam’s central bank unveiled plans to create a three-tiered financial industry dominated by 15 lenders as part of efforts to allay concerns over the nation’s banking system. The country aims to have 15 “big” banks by [...]
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November 23, 2011
Film on gay men shows director approaching realism with confidence Hotboy noi loan va cau chuyen ve thang Cuoi, co gai diem va con vit (Lost Paradise), which is playing in theaters now, is Vu Ngoc Dang’s latest effort to make a serious movie that sells. The movie has taken part in several international [...]
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November 22, 2011
Vietnam’s lawmakers said Friday they did not agree that the heavier cash fines proposed by a draft law will be able to deter administrative violations. Ngo Van Minh, a lawmaker from the central province of Quang Nam, said while people keep complaining that current fines aren’t heavy enough to deter violations, they have ignored another [...]
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November 13, 2011
Wiping out small banks should not be the goal of banking reform A customer exits a branch of Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, in Hanoi. Bad debts at local banks are rising, raising concerns about the safety of the whole banking system. With bad debt exposure rising among local [...]
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October 26, 2011
Passengers board a Boeing 787 Dreamliner operated by All Nippon Airways at Narita Airport, Japan prior to its flight to Hong Kong. Boeing’s new 787 Dreamliner made its first commercial flight on Wednesday, giving a handful of deep-pocketed passengers the chance to fly into history on what is touted as an aviation breakthrough. Carrying 252 [...]
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October 17, 2011
An employee at Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, counts dong bank notes in Hanoi. Bank depositors are shifting their funds to other investment channels after the central bank ordered commercial banks to comply with a 14 percent ceiling on dong deposit interest rates. Several banks have said their deposits are [...]
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