From the end of September 2015, the social policy bank (SPB), Phu Yen province, has implemented giving loans to new households to get rid of poverty under the Decision 28/2015/QĐ-TTg of the Government. This is the great preferential credit program with great meaning, timely meeting the capital demands among poor households, helping them get rid of poverty in a sustainable way. Looking at the current immense new home of Mr. Vo Huu Khoi in Phong Nien hamlet, Hoa Thang commune (Phu Hoa district), hardly does anyone believe that less than 3 years ago, his entire family lived in a temporary degrading house which made everybody feel worried at the arrival of rain and strong winds.When the family was approved for a loan amount of 15 million dongs, Mr. Khoi bought one make cow to raise and sell meat. After selling the cow and paying off the debt to the bank, he asked for another loan to raise cows. Besides making loans for poor households, Mr. Khoi's family also made loans of supporting … [Read more...] about Adding strength to the new households to get rid of poverty
Mortgage how to get approved
The first Chinese interest-rate cut in more than two years is a stark recognition that the world's second-biggest economy is in trouble. After years of piling ever more public debt onto the national balance sheet, it makes sense to have the People's Bank of China take the lead in propping up gross domestic product. Yet while today's benchmark rate cut should help stabilize growth, the move also adds to worries about looser credit that could pose risks to the global economy. Case in point: mortgages. Earlier this year, Chinese officials took several stealthy steps aimed at stabilizing the property sector and bolstering GDP growth. The China Banking Regulatory Commission loosened lending policies. Even before cutting the one-year lending rate to 5.6 percent and the one-year deposit rate to 2.75 percent today, the central bank had cut payment ratios and mortgage rates, while prodding loan officers to ease up on their reluctance to approve borrowers without local household registrations. … [Read more...] about Is China building a mortgage bomb?
Hoi An International Food Festival opens The Hoi An International Food Festival "Taste the World", the first of its kind, opened at An Hoi sculpture garden on March 14, attracting 12 chefs from 12 countries worldwide. During the week-long event, the chefs will demonstrate their cooking skills at 12 local restaurants, namely Cargo club, Morning Glory, Inflame club, Mango I, Mango II, Rice Drum, Seafood Garden, Vinh Hung, Seedlings, Mangorooms, Tam Tam and Hai café. The participating restaurants will be decorated and themed to the countries of the visiting chefs, who will prepare traditional dishes from their respective countries. The festival, a new tourism product of Hoi An in 2016, is expected to bring the local cuisine to countries and territories worldwide, thereby popularising the city, its land and people. The ancient city of Hoi An in the central province of Quang Nam was a renowned international trade port in the 17th century where ships from Japan, China, and European … [Read more...] about Social News 16/3
President Barack Obama charted a dramatic new course for the nation Thursday with a bold but contentious budget proposing higher taxes for the wealthy and the first steps toward guaranteed health care for all — accompanied by an astonishing $1.75 trillion federal deficit that would be nearly four times the highest in history. Denouncing what he called the "dishonest accounting" of recent federal budgets, Obama unveiled his own $3.6 trillion blueprint for next year, a bold proposal that would transfer wealth from rich taxpayers to the middle class and the poor. Congressional approval without major change is anything but sure. The plan is filled with political land mines including an initiative to combat global warming that would hit consumers with considerably higher utility bills. Other proposals would take on entrenched interests such as big farming, insurance companies and drug makers. Obama blamed the expected federal deficit explosion on a "deep and destructive" recession … [Read more...] about Obama budget: Mammoth deficits but headed lower
FRANKFURT, Dec 9, 2010 (AFP) - The eurozone economy is "fraught with risks" as governments scramble to balance budgets and compete with banks for trillions of euros in financing, the European Central Bank said Thursday. "The overall economic and financial situation is still fraught with risks for financial stability," the ECB said in its twice yearly Financial Stability Review. The central bank study found the most important source of concern stemmed "from the interplay between sovereign debt problems and vulnerabilities in segments of the euro area banking sector." Countries like Greece, Ireland and Portugal are struggling with debts for which bond markets demand higher rates of interest to finance, and some banks that also need financing are being squeezed aside by the sovereigns. "This means that there are strains going forward in the funding and the liquidity of banks," ECB Vice President Vitor Constancio told a press briefing that coincided with the publication's release. One … [Read more...] about Eurozone capitals and banks will compete for funds: ECB