Banks have to mobilise long-term capital at high costs by issuing certificates of deposit (CD) in Vietnamese dong with high interest rates to lure depositors, causing concerns about a domino effect on lending rates. At Southeast Asia Bank (SeABank), when customers apply for a 24-month CD valued at a minimum of VND100 million (US$4,290), they can enjoy a fixed interest rate of 8.4 per cent per year, while a 36-month CD can bring them a fixed interest rate of 8.6 per cent. State-owned Bank for Investment and Development of Vietnam (BIDV) has also introduced high interest rates for long-term CD. Specifically, an interest rate of 7.6 per cent is applied for an 18-month CD valued at a minimum of VND10 million for individual customers and VND50 million for corporate customers. One leader of a bank, who declined to be named, said banks had to issue CD at high interest rates as they faced difficulties in luring long-term capital. The rate of CD is currently some 1 per cent higher than normal … [Read more...] about Banks struggle to lure long-term capital
El paso international airport long term parking
Viet Nam News TEL PASO — President Donald Trump takes his politically explosive push for walling off the Mexican border to the frontier city of El Paso on Monday, four days before a deadline for Congress to meet his demands. Trump’s campaign-style rally in El Paso will give the president the kind of populist platform he will seek to build on ahead of his 2020 reelection bid. "Will be heading to El Paso very soon. Big speech on Border Security and much else tonight. Tremendous crowd! See you later!" he tweeted. According to Trump, illegal immigrants pose a national security risk to the United States and can only be stopped by dramatic extensions of current barriers. It’s an argument he backs up with lurid warnings about rapists and people traffickers extending far into the American heartland -- a message that critics describe as xenophobic and based on heavily manipulated data. Trump chose El Paso as a historic … [Read more...] about Trump to make ’big’ border speech in El Paso
A Vietnam Airlines Airbus A321 carrying Vietnam’s Prime Minister Nguyen Xuan Phuc and government officials made the first touchdown at the Van Don International Airport near the world-famous Ha Long Bay on Sunday morning, marking the opening of the first private airport in Vietnam. Construction of the airport, 50 kilometers away from Ha Long Bay in the northern province of Quang Ninh, began in 2015. The 325-hectare (803 acres) airport, owned by real estate giant Sun Group, costs VND7.7 trillion ($330 million) and can handle 2.5 million passengers a year equivalent to 1,250 passengers per hour. Its parking bay will have place for at least four aircraft by 2020 and seven by 2030. It is expected to focus on services to Northeast Asian destinations like South Korea, Japan, Taiwan, and mainland China and Southeast Asian ones like Thailand, Malaysia, Singapore, and Cambodia. Domestically, flights will mostly be to and from the southern and central regions. The airport now has four … [Read more...] about New Vietnam international airport welcomes first passenger flight
The Airports Corporation of Vietnam (ACV) is focusing on accelerating investment in key projects at Cat Bi International Airport (Hai Phong) with a total investment capital of about VND4 trillion (US$170.1 million). ACV to pour VND4 trillion into upgrading Cat Bi International Airport These projects include passenger terminal T2, a parking lot in front of the new terminal and a cargo terminal, as well as a number of projects to renovate and expand existing aircraft parking areas. For the T2 construction project, ACV has completed the selection of consultancy contractors for the feasibility study (FS). The winning contractors are preparing architectural plans for the passenger terminal, the FS and basic designs. The terminal will have a capacity of five million passengers per year and be able to expand to 10 million passengers per year. The auxiliary works for the terminal include the synchronous infrastructure system and traffic system to connect with terminal T1. Total … [Read more...] about ACV to pour VND4 trillion into upgrading Cat Bi International Airport
Airports Corporation of Vietnam (ACV) was proposed to do the key civil aviation project components to improve Tan Son Nhat International Airport to 50 million passengers in 2022. The MoT proposed assigning ACV to carry out key tasks at the Tan Son Nhat International Airport project In the document sent to the prime minister on capital mobilisation and the schedule of developing Tan Son Nhat International Airport project, the Ministry of Transport (MoT) said that if the project called for private investment, it would take nearly two years to carry out the procurement procedures to select investors. Accordingly, it is very difficult to improve the capacity of the airport to 50 million passengers by 2022, as the airport is already overloaded. Therefore, the ministry proposed to assign ACV to develop Terminal 3 first in 2018-2020 with the annual capacity of 20 million passengers on the area handed over by the Ministry of Defence. ACV will also develop two components, which, … [Read more...] about ACV to play key role in Tan Son Nhat International Airport expansion?