Income

Vietcombank's charter capital rises to 37.1 trillion VND after selling shares to GIC and Mizuho. (Photo: VNA) Hanoi (VNA) – The charter capital of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has risen by 3 percent to 37.1 trillion VND (1.6 billion USD) after its recent sale of more shares to two strategic investors - the Singaporean investment fund GIC Private Limited (GIC) and Japan’s Mizuho Bank. Mizuho Bank had completed the purchase of more than 16.6 million shares to increase its holding to 15 percent. Meanwhile, GIC owned 2.55 percent of Vietcombank’s shares after buying over 94.4 million shares. The bank completed the first share sale to foreign investors after receiving approval from the State Bank of Vietnam (SBV) on December 27, 2018. Despite the central bank’s tightened monetary policy, Vietcombank reported good business performance last year thanks to improved bad debt resolution and rising income from … [Read more...] about Selling shares to foreign investors, VCB’s charter capital up

Many banks have reported good business performance in the first nine months of 2018 (Photo: VIB) Hanoi (VNS/VNA) – Many banks have reported good business performance in the first nine months of the year thanks to decreasing provision costs and rising income from services.Vietcombank’s impressive result was also thanks to a high growth in the bank’s two core business segments, of which net profit from credit rose by 26 percent to 2.04 trillion VND and net profit from services surged by 34 percent to 2.63 trillion VND.Military Bank also reported acceleration in performance in the first three quarters with an impressive pre-tax profit of 6 trillion VND, double the same period last year. The bank’s profit from services contributed 1.69 trillion VND.TPBank) also came out at 1.61 trillion VND, also doubling last year’s figure and achieving 75 percent of its 2018 target. VNA … [Read more...] about Banks post strong performances in first 9 months

  The fire at the Rạng Đông Light Source and Vacuum Flask JSC in Thanh Xuan caused a lot of harms to local residents. — Photo cafef HÀ NỘI — Rạng Đông Light Source and Vacuum Flask JSC (HoSE: RAL) asked its shareholders to select PVI Insurance Corporation and Vietnam International Adjuster (VIA) to evaluate the damage from the fire in August at the request of Hà Nội’s Police.  As per the request, shareholders have to register for the selection by December 3. The selection is expected to be completed on December 20. On August 28, RAL’s warehouse in Thanh Xuân district caught fire. The company estimated losses of VNĐ150 billion ($6.47 million) for lamps and light bulbs. The Vietnam News Agency reports that PVI is the fire insurer of the firm. The estimated compensation amount in the contract is about VNĐ150 billion. Residents at the 54 Hạ Đình Apartment Building … [Read more...] about RAL to select adjusting services for fire loss

Foreigners enjoy themselves at the monthly full moon party on Koh Phangan in Surat Thani, Thailand. (Photo: bangkokpost.com) Bangkok (VNA) – The Tourism Authority of Thailand (TAT) will use music and outdoor events to attract first-time visitors, millenials and female travellers from Japan, targeting 2 million arrivals from the East Asian country who will spend 85 billion THB (USD) by 2020. According to Saratwadee Asasupakit, director of the TAT’s Osaka office, the target group is females aged 20-34, a large market of 9.54 million people in Japan. LGTBT tourism is another major market in Japan, with some 11.2 million people reporting difficulties and objectives from conservative segments of society when they travel. “TAT will promote its ‘Go Thai, Be Free’ campaign among LGBT people for travel and to experience nightlife in a gay-friendly destination,” she said. Thailand was Japan’s fourth biggest outbound market last year, with 80 percent … [Read more...] about Thailand uses entertainment to woo more Japanese visitors

Bangkok (VNA) – Thailand’s Ministry of Tourism and Sports has decided to delay a plan to collect a tourism levy from foreign visitors which would further harm the already struggling tourism industry. In May, the ministry announced it was studying the idea of collecting a tourism levy from foreigners which will be used to rehabilitate natural tourist destinations. The tax amount would be minimal and not affect visitors, it said. But Permanent Tourism Secretary Chote Trachu said the levy could result in psychological deterrence among foreign tourists, bringing further obstable to the country’s key industry. The ministry will not impose a tourist levy this year as it could worsen Thai tourism, especially when the baht is so strong, he said. He was convinced that international tourist arrivals to Thailand during the last quarter of this year will accelerate to reach 40 – 41 million as projected thanks to extension of the waiver of the visa-on-arrival fee. … [Read more...] about Thailand delays collection of tourism levy from foreign visitors