A Techcombank office in Hà Nội. Techcombank will issue 3.5 million shares to its employees under an employee stock ownership plan. Photo Techcombank HÀ NỘI — The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) plans to issue more than 3.5 million shares for its employees in the form of an employee stock ownership plan (ESOP) at the price of VNĐ10,000 per share. Techcombank said in a statement that of the total, 325,000 bonus shares will be set aside for the bank’s foreign employees while the remaining shares will be for Vietnamese workers. The issuance will take place this year after it is approved by the State Securities Commission. The bonus shares will be available for trading. At Techcombank’s annual general meeting in April, the bank’s shareholders approved a plan to issue 10 million shares under the ESOP programme at a price of VNĐ10,000 to increase its charter … [Read more...] about Techcombank to issue 3.5 million shares to employees
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Footballer Gerard Pique handed 2.1 million tax bill
Barcelona's Gerard Pique will be forced to pay €2.1 million (US$2.36 million) to Spain's tax authorities after his conviction for rights-image fraud was confirmed, a legal source told AFP on Wednesday (Jul 10). Gerard Pique joined Barcelona from Manchester United in 2008 (Photo: AFP/JOSE JORDAN) According to a May 13 decision the country's National Court rejected Pique's appeal against the 2016 sentence which required the former Spain international to pay €1.5 million in tax arrears and a €600,000 fine. The tribunal concluded Pique had faked the handover of his rights images to his Kerad Project company to pay less tax for 2008, 2009 and 2010. Pique, a World Cup and European Championships winner retains the right to appeal to Spain's supreme court. The verdict comes a month after his wife, Colombian musician Shakira, was questioned by a judge near the Catalan city over alleged evasion of €14.5 million in taxes. Her press team released a statement in … [Read more...] about Footballer Gerard Pique handed 2.1 million tax bill
Vietnam fintech startup raises $1 million from foreign venture capitalists
By Anh Tu  January 28, 2019 | 11:34 am GMT+7 Finhay has raised $1 million in seed funding from foreign venture capitalists. Photo by Shutterstock. Vietnamese fintech firm Finhay has raised $1 million in seed funding from Singapore’s Insignia Ventures Partners and other foreign investors. "Finhay will use the $1 million investment to expand its user base 10-fold to 100,000," said founder and director of Finhay Nghiem Xuan Huy. Finhay was established in 2017 with capital of $100,000 as a micro-investment platform targeted at millennials. It allows customers to invest as little as VND50,000 ($2.17) in mutual funds from Finhay’s investment portfolio. Huy said the business model is very popular abroad, citing examples such as U.S. micro-investing apps Acorns and Stash. The application automatically analyzes the user's risk appetite and suggests appropriate investment options and provides information to help improve users’ personal financial … [Read more...] about Vietnam fintech startup raises $1 million from foreign venture capitalists
Indonesia exports 284.1-million-USD defence industrial products
An aircraft of Dirgantara company (Photo: janes.com) Jakarta (VNA) – The Defence Ministry of Indonesia said the export of defence industrial products brought home 284.1 million USD from 2015 to 2018. Rear Admiral Agus Setyadi, head of the defence facilities, said Dirgantara Indonesia earned an export value of 161 million USD from the sale CN-235 and NC-212 aircraft. PAL raked in 86.9 million USD from exporting two units of Strategic Sealift Vessel to the Philippines. Meanwhile, Pindad sold armored vehicles, tanks, arms, and ammunition worth 32.6 million USD to countries in Southeast Asia and Africa, UAE, the Republic of Korea, Nigeria and East Timor. Lundin exported Sea Rider ships to Russia and Sweden for 3.6 million USD. Rear Admiral Agus Setyadi said defence industrial products are a pride of Indonesia, proving the country’s global competence. Indonesia becomes a competitor in the defence industry.-VNA … [Read more...] about Indonesia exports 284.1-million-USD defence industrial products
Viettel Global reports profits of 57.1 million USD in Q3
Myanmar is the Viettel Global’s largest foreign market (Photo: VNA) Hanoi (VNA) - Viettel Global Investment JSC, a subsidiary of Viettel Military Industry and Telecoms Group, reported revenue of 4,428 billion VND (188.6 million USD) and profit of 1,342 billion (57.1 million USD) in the third quarter of 2018, increases of 5 and 8 percent year-on-year. Besides traditional markets which brought high profits to Viettel Global, Viettel Burundi and Viettel Haiti achieved strong revenue growth of 14 percent and 26 percent, respectively. In Haiti, the allotment of the 1700 MHz frequency for its 4G network this year gave Viettel’s Natcom an important advantage and it signed up double the number of customers it did last year. Viettel Global’s sales and management costs have reduced by 4 percent and 12 percent this year after adopting a new business model. It has hired Viettel Telecoms to run its operations in foreign markets to take advantage of its resources and … [Read more...] about Viettel Global reports profits of 57.1 million USD in Q3