3 months usd libor

Jakarta (VNA) – The Indonesian Finance Ministry announced on July 3 that the country has raised 100 billion JPY (930 million USD) from the issuance of five-tranche Samurai bonds to offset the national budget deficit and fund the response to the COVID-19 pandemic. In its statement, the ministry said this is the first issuance of the sovereign Japanese yen in 2020 and the first issuance from an Asian country since the pandemic hit. The money raised will be used to finance the budget deficit, as well as fund COVID-19 relief and recovery efforts, it noted. The Indonesian government faces the daunting task of funding the budget deficit of 6.34 percent of gross domestic product this year, with 695.2 trillion Rp (49 billion USD) set aside to bolster its economy and strengthen its health care system. The government is planning to offer 900.4 trillion Rp worth of bonds in the second half of the year to fund the country’s response to the pandemic. It had raised 630.5 trillion … [Read more...] about Indonesia raises 930 mln USD in Samurai bonds to fund pandemic response

Jakarta (VNA) – Indonesia is preparing to offer 900.4 trillion Rp (62.35 billion USD) worth of sovereign debt papers (SBN) in the second half of the year as debt financing swells significantly to fund the country’s coronavirus response, Jakarta Post reported. The Indonesian government had raised 630.5 trillion Rp worth of SBN as of June this year, including 2.5 billion USD from a three-tranche global sukuk (sharia-compliant bond) last month, according to the coountry's Finance Ministry’s financing strategy and portfolio director, Riko Amir. President Joko Widodo signed in June Perpres No. 72/2020, a presidential regulation that regulates an increase in state spending and a widening state budget deficit amid Indonesia’s fight against the coronavirus pandemic. The Indonesian government now officially states that the 2020 state budget deficit is expected to reach 1.03 quadrillion Rp or 6.34 percent of gross domestic product (GDP). A previous presidential … [Read more...] about Indonesia to offer 62.3 billion USD in bonds in H2 to finance coronavirus fight

Hanoi (VNA) – The Vietnam Oil and Gas Group (PetroVietnam) has reported oil equivalent output of 8.99 million tonnes in the first five months of 2020, 4.4 percent higher than its target. In May, crude oil output reached 0.96 million tonnes, 2.1 percent higher than the monthly plan while gas production fulfilled the monthly goal at 0.84 billion cu.m. The firm generated 2.05 billion kWh of electricity and produced 149,800 tonnes of nitrogenous fertiliser, surpassing the monthly targets by 4.7 percent and 4.2 percent, respectively. Its production of oil and petroleum exceeded 1.01 million tonnes during the month, only equivalent to 91.5 percent of the monthly goal, largely because the Nghi Son Oil Refinery were cutting capacity for maintenance and the PetroVietnam Oil Corporation (PV Oil) reduced production of petroleum as demand dropped. The company has made drastic efforts to cut nearly 8.7 trillion VND in costs during the first five months of the year to deal with declining … [Read more...] about PetroVietnam’s oil equivalent output totals 8.99 million tonnes in five months

Based on its current business operations and financial position and a possible V-shaped recovery in global markets in the second half of 2020, MSR targets net sales of VND8-9 trillion ($343.6-386.5 million) and net attributable profits of VND200 -500 billion ($8.58-$21.45 million), representing a minimum increase of 70 per cent in sales and a reduction of 57 per cent or increase of 42 per cent in profits. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES JULY 5

Hanoi (VNA) - Vietnam exported goods with an estimated value of 99.36 billion USD in the first five months of 2020, a year-on-year decline of 1.7 percent. Export turnover of domestic businesses maintained double-digit growth, however, of 10.4 percent, reaching 33.3 billion USD. The outcome is considered a highlight of goods exports since early in the year, especially given that the export turnover of the FDI sector fell 6.9 percent year-on-year due to the impact of COVID-19, according to trade experts. The US remained Vietnam’s largest market in the first five months, with turnover of 24.6 billion USD, up 8.2 percent, followed by China, the EU, ASEAN, Japan, and the Republic of Korea. From January to May, Vietnam posted a trade surplus of nearly 1.9 billion USD - a much better result than the trade deficit of 256 million USD in the same period last year. The figure is encouraging amid the pandemic, which has seen restrictions placed on a number of trade activities at border … [Read more...] about Vietnam striving to boost export growth over remainder of 2020