January 18, 2012
Many lenders in Vietnam are trying to attract individual clients Many banks in Vietnam are targeting retail savings as large but short-term deposits from corporate clients prove to be a volatile funding source. Bankers said while term deposits from individual customers are usually small, they make up a stable source of capital for banks. On [...]
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January 11, 2012
The Vietnamese Ministry of Education and Training has hauled up four educational institutions, including a Singaporean one, and fined some of them for illicitly offering degree and higher-level courses though they are not licensed to do so. Raffles in Vietnam, a member of the Singaporean-owned Education Corporation, is permitted by the Ho Chi Minh [...]
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September 20, 2011
Employees at Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, attend to customers in Hanoi. Several commercial banks announced lending interest rate cuts, but companies complain they are being denied access to the lower rates. Major lenders like VietinBank and Vietcombank have lowered dong lending rates for loans to businesses and manufacturers to [...]
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August 16, 2011
One-hundred Yuan notes are seen in this picture illustration in Beijing March 22, 2011. China’s long-term plan to cut reliance on investment as a growth engine is clashing with its short-term need for protection against a worsening global outlook. Beijing has made it clear that consumption, not investment, must eventually do more of the work [...]
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Posted in International | Comments Off
August 15, 2011
A photo from news website VnExpress showing a stock investor reacting to a decline in stock prices It’s wrong for the stock market to depend on short-term funds from banks and measures will be taken to help it attract capital on its own, State Bank of Vietnam Governor Nguyen Van Binh said. The banking sector [...]
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July 25, 2011
A street sign is seen in front of the New York Stock Exchange. The White House and top lawmakers scrambled on Monday to reach a deal to save the world’s richest country from a disastrous default on its debt, amid fears that inaction could affect markets around the globe. With global financial markets on edge, [...]
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Posted in International | Comments Off
July 2, 2011
Re: “Some good news, finally” (Thanh Nien Weekly Issue No.90 June 17-24) Circular 74, which will allow day trading and shares on margin, is not good news, as your headline loudly proclaims. It portends a disaster that will result from adopting the worst elements of casino capitalism. It also smacks of a failure to [...]
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Posted in Life in Vietnam | Comments Off
June 1, 2011
Economist argues that Vietnam should pursue a slow, holistic approach to solving its economic woes A branch of SeABank in Ho Chi Minh City now offers 14 percent per year on dong deposits. A university professor said a “war” between banks directly led to high interest rates. Interest rates on dong deposits at some [...]
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December 8, 2010
Vietnam will focus on fighting inflation in 2011 as the prices of some goods in the country aren’t yet under control and growth has created risks to macroeconomic stability, the government said. Inflation accelerated to 11.09 percent in November, the fastest pace since March 2009. Economic growth for 2010 may reach 6.7 percent and [...]
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November 13, 2010
Vietnam’s property market will experience rising demand next year from economic growth, urbanization and companies’ expansion, according to CB Richard Ellis Group Inc. An oversupply in major metropolitan areas from “rapid” development will be “just a short-term issue,” Richard Leech, Hanoi-based executive director at the local unit of the world’s biggest real-estate services firm, [...]
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