Central bank

The Vietnamese economy in the third quarter of 2021 has been severely affected by COVID-19, with all facets of the economy and enterprises left in the lurch. In this context, many commercial banks have taken the initiative in reducing cost and profit targets while increasing packages of preferential loans to give more support to people and enterprises. BAC A BANK always accompanies enterprises and individuals with preferential loans In addition to its fight against the pandemic and ensuring its staff and customers at transaction spots and keeping smooth operations to serve the economy’s demands, BAC A BANK has earmarked many types of attractive incentives for individual customers within September 7 to December 31, 2021, with the loans disbursed before January 31, 2022 at all branch systems of BAC A BANK nationwide. The preferential loans are aimed to help the customers to purchase real estate and automobiles, build and/or repair houses, supplement loans, and invest … [Read more...] about BAC A BANK offers preferential loans for individuals hit by COVID-19

About 67 per cent of surveyed banks believe they will lose market share within two years if they fail to digitally transform, according to a new... Some 58 per cent of global respondents predict that they will completely cease to exist in the next five to ten years unless they change their business models. — Photo bnews.vn About 67 per cent of surveyed banks believe they will lose market share within two years if they fail to digitally transform, according to a new report from cloud banking platform Mambu and The Financial Times Focus (FT Focus). The ‘Evolve or be extinct’ report was conducted by FT Focus and surveyed over 500 senior banking executives globally to gain insights into their perception of the banking industry, now and in the future. The results illustrate the urgent need for banks to modernise their offerings, with 58 per cent of global respondents predicting they will completely cease to exist in the next five to ten years unless they change … [Read more...] about VIETNAM BUSINESS NEWS SEPTEMBER 19

Illustrative image (Photo: VNA) Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate on September 20 at 23,132 VND/USD, up 13 VND from the last working day of previous week (September 17). With the current trading band of +/- 3 percent, the ceiling rate applicable to commercial banks during the day is 23,825 VND/USD and the floor rate 22,438 VND/USD. The opening hour at commercial banks stayed stable. At 8:25 am, Vietcombank listed the buying rate at 22,640 VND/USD  and the selling rate at 22,870 VND/USD, unchanged from September 17. BIDV also kept both rates unchanged at 22,670 VND/USD (buying) and  22,870 VND/USD (selling). Similarly Vietinbank maintained both rates at the same level as on September 17 at 22,650 VND/USD  (buying) and 22,870 VND/USD (selling). The reference exchange rate fluctuated variably during the week from September 13-17, ending up 6 VND from the rate on the beginning of the week./. VNA … [Read more...] about Reference exchange rate up 13 VND at week’s beginning

A directive to this effect issued Monday night by municipal People's Committee Chairman Chu Ngoc Anh would allow businesses, offices and corporations to resume on-site operations at 50 percent capacity – half the workforce working onsite and the other half remotely. Malls, fashion shops, cosmetic stores, barbershops, repair shops for vehicles and electrical appliances, stores that sell books, office and studying tools, business activities on e-commerce platforms and online delivery can resume, starting 6 a.m. Tuesday. Other establishments that will reopen include markets, supermarkets, convenience stores, pharmacies, clinics, rehab facilities and other essential businesses like banks and postal services. The decision does not apply to organizations belonging to the central government, armed forces, coronavirus fighting units, diplomatic entities and international organizations. However, conferences and gatherings with more than 20 people in the same room are banned, except for … [Read more...] about Hanoi allows barbershops, malls, on-site workers

Vietnam was elected twice as a non-permanent member of the UN Security Council. Vietnam has undergone a journey of 44 years since its admission to the United Nations with so many changes to become a global reliable and responsible member. A UN General Council meeting on Sept 20, 1977, adopts the admission of Vietnam. Photo: VNA On Sept 20, 1977, Vietnam became the 149th member of the world’s largest international organization with some main bodies namely the General Assembly, the Security Council, the Economic and Social Council, the Trusteeship Council, the International Court of Justice, and the Secretariat. In 2019, for the second time in history, Vietnam became a non-permanent member of the United Nations Security Council (UNSC) for the 2020-2021 term by a near-unanimous vote (192 out of 193 member states). Its first time took place in 2008-2009. “The UNSC stint will spotlight Hanoi’s approach to the world,” Dr. Prashanth Parameswaran wrote for The … [Read more...] about Vietnam’s admission to UN: 44-year journey of a reliable global member

Many activities will be organized nationwide to entertain children on the occasion of the traditional Full-moon Festival. Although Vietnam is still in the severe fourth wave of the Covid-19, children throughout the country the still have opportunity to experience the fascinating once-a-year festival and learn about Vietnamese traditional culture. The online display is entitled “Mid-Autumn Festival Reunion” at the website of Thang Long Imperial Citadel. Photo: Lai Tan This year’s full moon season is very special for Vietnamese children as most activities to celebrate the Mid-Autumn Festival are held online. As part of the online art program series entitled “Sharing love to overcome the pandemic” organized by the Department of Performing Arts, a special night for children called “Mid-Autumn Festival for Children” will be held at 8pm on September 21 at three points of Vietnam Puppet Theater, Vietnam Circus Federation and Thang Long Puppet Theater. The … [Read more...] about Various activities to celebrate traditional Mid-Autumn Festival