However, the money market has unexpectedly reversed with liquidity considerably improved. The interest rate performance in the interbank market last week was different from the weeks before when it decreased sharply from 4.7%-4.9% to 3.9%-4.1% for overnight loans (O/N). In OMO (Open Market Operations), no commercial bank registered to borrow capital from the State Bank on May 19, which was the first time since the beginning of the year. The average balance in OMO, which was always over VND35 trillion, has dropped to VND4 trillion. A BVSC report shows that the banking system’s liquidity has returned to a surplus state. Where’s the cash flow coming from? In theory, the sudden reverse in the two markets would occurs only if the State Bank (SBV) pumps capital into the market, and the quickest way for SBV to support liquidity is pumping capital through OMO. However, the scenario did not occur as the outstanding balance of the banks on OMO is on the decrease and is nearing zero … [Read more...] about Money market changes course unexpectedly
Uncategorized
PM Phuc’s US visit grabs international attention
Bloomberg.com on May 30 said that Vietnam and the US have found common ground over security matters in recent years. It wrote Vietnam wants to further integrate with global markets and enhance trade ties with the US. On his first year in office, US President Donald Trump will attend the Asia Pacific Economic cooperation summit in Vietnam, which shows the US’s will to promote ties with the country. The same day, Asia Sentinel posted an article by former American diplomat David Brown, saying that Washington and Hanoi had forged a strategic entente during the Obama years. Though President Trump has ripped up the Trans-Pacific Partnership, the two countries might agree to explore a bilateral trade pact that would entail many TPP-like reforms. Bilateral talks will be at the top of Prime Minister Nguyen Xuan Phuc’s agenda during his visit toWashington, Brown said. Dr. Jonathan D. London, Lecturer of Global Political Economy – Asia at Leiden University in the … [Read more...] about PM Phuc’s US visit grabs international attention
Government leader’s activities in US
During the trip, PM Phuc is scheduled to meet with President Trump, US cabinet secretaries, and Senators. He will attend a conference with local businessmen, deliver a speech at the Global Heritage Fund, and meet representatives of the Vietnamese community in the US. In New York, PM Phuc will meet UN Secretary-General Antonio Guterres and attend a ceremony marking Vietnam’s 40th year as a UN member. Vietnam joined the UN in 1977. He met on Monday with Robert H. McCooey Jr., Senior Vice President of NASDAQ's Listing Services unit. Phuc expressed his hope that the NASDAQ will continue expanding cooperation with and support for Vietnamese businesses that are listed on NASDAQ. Mr. McCooey said he hopes to have the Vietnamese government’s support. At meetings the same day with Vietnam’s permanent delegation to the UN and Vietnamese entrepreneurs and intellectuals, the government leader praised the expatriate community’s contributions to the US economy and to … [Read more...] about Government leader’s activities in US
Global Passport Summer 2017
"Where do I begin? What should I do? " - maybe you have experienced those thoughts! Don't give up just yet, because GLOBAL PASSPORT SUMMER 2017 - AIESEC in the National Economics University (NEU) is back, just for YOU! ► About GLOBAL PASSPORT This exciting project - a part of the Social Wave Campaign will create a multi-cultural environment for young people to develop their skills and gain fresh experiences. At the same time, youngsters can also make an extraordinary impact on society, for under-privileged children as an example. ⏺HIT THIS LINK TO APPLY NOW: bit.ly/SocialWave_summer2017_af ⏺Information Booklet: bit.ly/GlobalPassport_summer2017_booklet ⏺ Even link: bit.ly/GlobalPassport_summer2017_event ► Why can't you miss exciting opportunity? Through the project, you will gain the opportunities to: ★ Enhance your English Skills ★ Fortify social skills - which are undoubtedly important ★ Explore your inner potential ★ Make friends with people from all walks of life ★ Create changes … [Read more...] about Global Passport Summer 2017
PM meets Vietnamese delegation to UN, Vietnamese businesses
During the meeting, Ambassador Nguyen Phuong Nga, Head of Vietnam’s Permanent Mission to the UN, reported the delegation’s performance since it was established in 1977 in conjunction with Vietnam starting its UN membership. The delegation has followed the UN agenda for sustainable development and completed Vietnam’s duties as an active member of the UN, Nga said. She added that the delegation also work to support Vietnamese expatriates in New York and boost trade and cultural exchange between Vietnam and the US. The PM said the work has contributed significantly to the implementation of Vietnam’s foreign policy of multilateraliation and diversification of foreign relations, and proactive and active integration into the world. He urged the delegation to sustain its positive operation and further promote Vietnam’s image to international friends. The same day, the PM received a number of Vietnamese entrepreneurs and intellectuals in the US, who expressed … [Read more...] about PM meets Vietnamese delegation to UN, Vietnamese businesses