Citibank launches credit card in Vietnam By Thuy Trieu - The Saigon Times Daily HCMC – Citibank Vietnam has launched its first card service on the local market through a travel credit card partnership with MasterCard. The Citibank PremierMiles card is mainly for people who usually travel abroad for business or leisure. Cardholders can earn one Premier Mile for every VND20,000 of spend and cash withdrawal, 1,000 bonus Premier Miles for card renewal, and 5,000 bonus marks for spending over VND500 million in one year. The card can be redeemed for free flight awards on about 50 airlines including Vietnam Airlines, Singapore Airlines, Cathay Pacific Airlines, and Delta Airlines. The Premier Miles earned by Citibank customers never expire. The card owners can benefit from many local and international incentives such as 80% off the second business class ticket on Malaysian Airlines from Saigon to Kuala Lumpur; stay one night, get one night free offers from Sofitel Plaza Hanoi, … [Read more...] about Citibank launches credit card in Vietnam
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WeChat helps Apple rack up bonus points in China
has a lot for which to thank people like Deng. A Beijing-based quality analyst, she gave only her surname as she's embarrassed by how much money she spends playing mobile games on WeChat, a hugely popular messaging app developed by Chinese internet giant Tencent Holdings Ltd. "The most expensive time was when I spent 68 yuan ($11.08) on a leopard on Tiantiankupao," said Deng, an avid iPhone user, referring to Tencent's hit game - called Timi Run Everyday in English - where characters run through obstacle courses. Having a leopard as a pet gives the characters extra power, helping players beat their friends. Deng and tens of millions like her have made China Apple's third-largest market for software sales, and a huge chunk of that comes through WeChat. Known locally as Weixin, WeChat had 438 million monthly active users globally, mostly in China, at the end of June, and has rapidly evolved from a messaging tool into a digital Swiss Army knife, allowing users to send messages, play … [Read more...] about WeChat helps Apple rack up bonus points in China
Citibank Vietnam launches travel credit card
Citibank N.A. Vietnam Friday announced the launch of the Citibank PremierMiles Credit Card targeted at elite and affluent consumers in the country, where the American bank has been present since 1993. "We think the card market here is just beginning. We see real opportunities to come in," Brett Krause, managing director, Citi country officer for Vietnam, said at a press conference in Ho Chi Minh City on Friday. The Citibank PremierMiles Credit Card leverages Citibank's partnerships with major airlines in the region to offer best in class features and benefits to customers in Vietnam, he added. Customers earn 1 Premier Mile for every VND20,000 (US$1) of spend and cash advances on the card, 1000 Bonus PremierMiles upon renewal and 5000 Bonus PremierMiles for spend over VND500 million (US$25,000) in one year. Premier Miles can be redeemed for free flight awards on most airlines flying out of Vietnam, including Vietnam Airlines, Singapore Airlines, Cathay Pacific Airways (and Asia Miles … [Read more...] about Citibank Vietnam launches travel credit card
Cbank groups 4 credit growth caps for 2012
The credit growth ceilings for 4 groups of banks in 2012 will range from 0 percent to 17 percent, according to a central bank’s recent allocation of credit growth targets for this year. The maximum credit growth rates of 17 percent, 15 percent, and 8 percent will be applied for 3 groups of banks, while those in the last group are not allowed to lend more in 2012, said the State Bank of Vietnam (SBV). The caps for the 4 groups of banks will be reviewed after 6 months for any changes following the situation. All the banks categorized under the 4 groups must set up detailed plans for their own target rates including forex fluctuation so that the central bank can monitor the whole banking system more closely, said the central bank. The target rates will include credit growth in lending, buying corporate bonds (excluding bonds issued by financial institutions) on both the primary and secondary markets, and entrusted capital sources from non-bank financial … [Read more...] about Cbank groups 4 credit growth caps for 2012
BUSINESS IN BRIEF 5/2
Gazprom to construct gas-to-power project in Quang Tri Russia’s Gazprom International hopes that in 2018, the central province of Quang Tri will continue to create favourable conditions for a gas-to-power project.This project, the company said, will contribute to the socio-economic development of the province.Kovtun Andray, head of Gazprom International’s representative office in Viet Nam, revealed this at a recent meeting with the provincial People’s Committee (PPC).He also expressed gratefulness to the province for supporting and creating favourable conditions for Gazprom International to carry out the project of exploiting and operating the gas-to-power plant in the southeast Quang Tri Economic Zone.Nguyen Quan Chinh, PPC’s vice-chairman, highly appreciated that Gazprom International had proceeded with the steps and determination to implement the gas-to-power project in Quang Tri. The provincial leader also urged Gazprom to continue to have … [Read more...] about BUSINESS IN BRIEF 5/2