Sebastian Eckardt, lead economist of the World Bank in Vietnam, has recommended the State Bank of Vietnam (SBV) to remove the credit growth quota set for each year and let the market determine the credit demand in the economy on its own, as the capital adequacy ratio (CAR) is not deemed sufficient. He advocated the abrogation of administrative measures limiting banks’ credit growth and supported the idea of controlling such growth by a safety ratio instead. However, he also warned about the high credit-to-GDP ratio in Vietnam. According to the ‘Taking stock: An update on Vietnam’s recent economic developments’ report released by the World Bank in December 2018, although local monetary policies remain accommodative, credit conditions have been tightened. The SBV trimmed its credit growth target to 17 per cent in 2018 from the 18 per cent set in the previous year. The monetary authority has also reinstated its view on controlling lending to high-risk sectors, … [Read more...] about Is it time to wave good bye to the credit growth ceiling?
Why remove popcorn ceiling
The ceiling promotion rate of 20 per cent for pre-paid subscribers has cut telecom providers’ revenue. — Photo vtv.vn The Ministry of Information and Communications is considering a proposal from telecom providers to remove the ceiling promotion rate of 20 per cent for pre-paid subscribers. The ministry’s Department of Telecommunications said they were working with the Finance Ministry to consider the proposal of adjusting the rate from the current 20 per cent to 50 per cent. Previously, the ministry issued Circular 48/2017 which took effect on March 1, 2018 regulating mobile rates for mobile operators. Telecom providers in the country are only allowed to offer up to 20 per cent of a service’s value to pre-paid subscribers as a bonus during promotional campaigns. The maximum promotional value however has been set at 50 per cent for post-paid subscribers. The limit applies to different forms of promotion, including bonus credits, in-kind benefits, and other … [Read more...] about Ministry considers removing mobile phone promotion cap
IS has been forced out of most of its strongholds in Iraq and Syria, but it remains active online. (Photo: AFP/AHMAD AL-RUBAYE) If they do not, companies such as Facebook and Twitter will risk massive fines under the legislation mooted by European Commission President Jean-Claude Juncker. Having long left it to internet firms to voluntarily remove problematic content, the move marks a toughening in Brussels' approach. The internet has become a key tool for extremists carrying out attacks which have killed hundreds of people in European cities in recent years. "Europeans rightly expect their Union to keep them safe," Juncker told the European Parliament in his annual state of the union speech. "This is why the Commission is today proposing new rules to get terrorist content off the web within one hour - the critical window in which the greatest damage is done." The EU's executive arm said that in January alone, nearly 7,000 items of propaganda were disseminated online from the … [Read more...] about Social media should have 1 hour to remove terror propaganda: EU
Higher ceiling for foreign homeownership?By Le Anh Estate projects in districts 2 and 7 are favored by foreign homebuyers - PHOTO: THANH HOA The foreign ownership ceilings of some real estate projects in HCMC, especially those in districts 2 and 7, have been reached as the demand from foreign homebuyers is rising. In this context, should the foreign homeownership limit be raised? Nguyen Duc Tai, a real estate broker in District 2, just received another request a short while ago. Two South Korean customers contacted Tai asking him to search for an apartment in the district that they could own. Current regulations set the ceiling of foreign ownership in realty projects at 30% of the total number of houses or apartments. The problem was that limit in all the projects which meet the Korean house seekers’ requirements offered by Tai’s firms had been crossed. “I’ve tried to search for other projects but I’ve failed to find one that suits the need … [Read more...] about Higher ceiling for foreign homeownership?
Facebook said on Tuesday (Apr 24) it will give users the right to appeal decisions if the social network decides to remove photos, videos or written posts deemed to violate community standards. Facebook said it will give users the right to appeal decisions if the social network decides to remove photos, videos or written posts deemed to violate community standards AFP/Oli SCARFF Plans to roll out an appeals process globally in coming months came as Facebook provided a first-ever look at internal standards used to decide what posts go too far in terms of hateful or threating speech. "This is part of an effort to be more clear about where we draw the line on content," Facebook public policy manager in charge of content Siobhan Cummiskey told AFP. "And for the first time we're giving you the right to appeal our decisions on individual posts so you can ask for a second opinion when you think we've made a mistake." The move to involve Facebook users more on standards for … [Read more...] about Facebook unveils appeal process for when it removes posts