Central budget reserves

Hanoi (VNA) - Indonesia’s central bank said signs of inflation accelerating might be seen in the fourth quarter but the bank would not immediately raise interest rates in response, Governor Perry Warjiyo said on January 25. Warjiyo told a briefing of senior editors the exit policy from monetary stimulus would probably start with Bank Indonesia mopping up excess liquidity, while interest rates would stay low until policymakers deemed there was a risk of high inflation. BI cut interest rates a total of 125 basis points and pumped more than 50 billion USD of liquidity into the financial system last year to help the economy weather the impact of the coronavirus pandemic. This year, BI has bought 25.9 trillion rupiah (1.85 billion USD) of bonds, Warjiyo said./. … [Read more...] about Indonesian central bank: signs of inflation pressure may be seen in Q4

Along with beautiful beaches like Sam Son, Hai Tien, Hai Hoa, Tien Trang and Dong – Nghi Son, and Hon Me Islet, Thanh Hoa has been known for the Pu Luong and Pu Nhi-Xuan Lien nature reserves, Cam Luong Fish Stream, Ma Hao Falls, Voi (Elephant) Falls and May (Cloud) Falls.  … [Read more...] about Thanh Hoa: a promising investment destination

Hanoi (VNA) - Despite the impact of COVID-19, the Hoa Phat Group still recorded a surge in both revenue and profit in 2020, the inter-sectoral conglomerate has said. It earned almost 91.28 trillion VND (3.9 billion USD) in revenue and posted 13.5 trillion VND in after-tax profit last year, up 41 percent and 80 percent, respectively, against 2019. In the fourth quarter alone, its revenue rose 43 percent year-on-year to nearly 26.17 trillion VND, while after-tax profit surged 142 percent to 4.67 trillion VND - a quarterly record. Steel manufacturing was a growth driver, the group said, adding that crude steel output doubled the 2019 figure, to 5.8 million tonnes, including 5.1 million tonnes of steel billet and finished construction steel and nearly 700,000 tonnes of hot rolled steel. In particular, 3.4 million tonnes of finished construction steel were produced, up 22.5 percent against 2019. Hoa Phat’s steel market share in Vietnam currently stands at 32.5 percent. The group … [Read more...] about Hoa Phat Group posts 80 pct. growth in after-tax profit

Thanh Hoa (VNA) - New documents that help in understanding the architecture of the Ho Dynasty Citadel in the north-central province of Thanh Hoa were unearthed during a recent excavation, Director of the Ho Citadel Heritage Conservation Centre Nguyen Ba Linh announced on January 25. For the main palace and the eastern part of the citadel in different historical periods, the artifacts will serve study purposes and restoration projects at the relic site, affirming its major and exceptional value. The large-scale excavation was carried out in two digs located in the central part of the citadel, spanning 8,000 sq m. Four traces of architecture from the Ho Dynasty (1400-1407) were discovered, along with two others dating back to the Le Dynasty spanning the period from the 15th century to the 17th century. Bricks decorated with flower patterns produced in the Ly Dynasty (1009-1226) and the Tran Dynasty (1226-1400) were also discovered, as were some created in the citadel and bearing … [Read more...] about New artifacts unearthed at Ho Dynasty Citadel

To improve the fund’s effectiveness, UNDP Resident Representative in Vietnam Caitlin Wiesen stressed the need to have a better understanding of the financial ecosystem for SMEs in Vietnam and a strategic role for a new lending channel to boost existing domestic funding. … [Read more...] about Gov’t urged to develop legal framework for direct lending for SME development