Bank

A report from the Saigon Securities Incorporated (SSI) released in late June cited the General Statistics Office (GSO) as saying that credit growth has seen improvement since the second half of May. Similarly, TP Bank’s credit grew by nearly 11 percent in the first four months of the year, while the limit is just 11.5 percent for the whole year 2020. … [Read more...] about Liquidity abundant, banks given larger room for credit

Hanoi (VNA) – The Association of Southeast Asian Nations (ASEAN) is emerging and playing a central role in the region, thus looking to converge Mekong sub-regional cooperation with its development goals, according to Deputy Minister of Foreign Affairs Nguyen Quoc Dung, head of the SOM ASEAN Vietnam. The ASEAN Forum on sub-regional development held in Hanoi on July 14 was the first activity of the bloc to discuss measures to create harmony and connect the Mekong sub-regional cooperation programmes with ASEAN and other sub-regions, thus contributing to the common goal of narrowing development gaps in ASEAN and building a strong ASEAN Community, he said. Raising some solutions to promote coordination and connectivity among economic corridors of ASEAN’s sub-regions, Dung said the involved parties should work together to devise policies and mechanisms to address border gate issues. ASEAN has reached agreements on border crossing among member countries, but each needs to … [Read more...] about ASEAN looks to boost sub-regional development

In a document sent to Eximbank's Board of Management and State Bank of Vietnam Governor Le Minh Hung, Mitsui Banking Corporation (SMBC) explaining that its requirement is based on a recent announcement by Eximbank that it could not held meetings due to a lack of shareholder participation. … [Read more...] about Foreign shareholder Mitsui asks Eximbank for extraordinary general meeting

Hanoi (VNA) - The PetroVietnam Gas Corporation (PV Gas), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam), has been named among the top 50 best performing listed companies in Vietnam in 2019 (Top 50) by the “Nhip Cau Dau Tu” (Investment Bridge) magazine and the Thien Viet Securities JSC. The rankings were developed based on international standards used by famous global publications and with consultancy from economists and business experts from the Harvard Business School in the US. PV GAS posted dual growth, in revenue and profit. Its return on equity (ROE) ratio and earnings per share (EPS) ratio grew every year during the 2017-2019 period. It also saw effective business operations, contributing significantly to protecting the environment and the country’s energy development. Collectively, the Top 50 businesses generated more than 60.5 billion USD in revenue (up 17 percent) and 7.1 billion USD in net profit (up 30 percent) in fields such as services, … [Read more...] about PV GAS ranked among Vietnam’s 50 best performing listed companies

The inability to change crews is impacting the welfare of sailors, which could lead to an increase in human error on board vessels. Disruption of essential maintenance and servicing heightens the risk of machinery damage, which is already one of the major causes of insurance claims. Reduced or delayed statutory surveys and port inspections could lead to unsafe practices or defective equipment being undetected. Cargo damage and delay are likely as supply chains come under strain. The ability to respond quickly to an emergency could also be compromised with consequences for major incidents which are dependent on external support. The growing number of cruise ships and oil tankers in lay-up around the world pose significant financial exposures, with many of them anchored in typhoon-exposed areas in Asia or hurricane-exposed areas in North America. "Ship-owners also face additional cost pressures from a downturn in the economy and trade," says Captain Rahul Khanna, Global Head of Marine … [Read more...] about Allianz: Asian waters account for most shipping losses even as global numbers hit record low