Business

Foreign debt levels pose risks

Vietnam should reduce the level of debt it owes to foreign lenders and increase domestic debt in order to avoid foreign exchange rate-related risks, said the vice chairman of the National Financial Supervisory Committee, Le Xuan Nghia.
Business

Bank ties in with Citi

Citibank announced on July 12 that it had signed a memorandum of understanding with Vietnam Development Bank (VDB) to cement a long-term partnership in areas of funds raising, international banking, treasury services, cash management and training.
Society

Ben Tre builds widest road

The Mekong Delta province of Ben Tre on Monday began construction of the province's widest road, which links Giao Long Port with Ben Tre City.
Business

G-20 financial leaders hail VN’s contributions

Finance ministers and central bank governors from the Group of 20 advanced and major developing economies applauded contributions by Vietnam, in its capacity as ASEAN representative, to the success of their meeting in the Republic of Korea (RoK) on June 4-5.
Business

VietinBank to manage capital from Gov't bonds

Vietnam Commercial Bank for Industry and Trade (VietinBank) will be managing the capital raised from the Government's bond issue in February, according to a deal signed by the bank and the Ministry of Finance this week.
ASEAN+3 to set up Macro-Economic Research Office World

ASEAN+3 to set up Macro-Economic Research Office

The ASEAN+3 Macro-Economic Research Office (AMRO) will be set up within this month under the agreement reached among ASEAN+3 Finance Ministers in support to the Chiang Mai Initiative Multilateralisation (CMIM).
Business

Vietcombank readies bond issue totalling 265 mln USD

Vietcombank will issue bonds totalling 5 trillion VND (264.55 million USD) to generate capital for business development, improve infrastructure and ensure a capital adequacy ratio of at least 10 percent of total capital, under a plan approved this week by the State Bank of Vietnam.
Society

French musicians hold concert for AO victims

Several French musicians and singers will team up with a number of Vietnamese colleagues and child victims of Agent Orange/ dioxin to take part in a concert in Hanoi on May 7, to raise money to support children affected by the chemical.
Business

Barclays expert raises Vietnam outlook

An economist with Barclays Capital disagrees with Fitch’s recent decision to give Vietnam a BB-rating and place the country’s economy on a negative watch.
Business

Techcombank to raise charter capital

Techcombank will offer about additional 149 million shares to existing shareholders in June at a ratio of 27.6 percent, and an additional 4 million shares will be offered to staff, at a price of 10,000 VND per share.
World

ADB to contribute to ASEAN+3 Credit Guarantee Facility

The Asian Development Bank (ADB) and ASEAN nations, along with China, Japan, and the Republic of Korea, are moving to establish a jointly owned credit guarantee facility, which is aimed at promoting financial stability and boosting long-term investment in the region.
Business

Vietinbank to issue bonds this year

Vietinbank has been permitted under the State Bank's decision No.956/QD-NHNN to issue long-term bonds in 2010 with a total value of 800 million USD this week.
ASEAN determined to overcome economic crisis World

ASEAN determined to overcome economic crisis

ASEAN Economic Community (AEC) Council adopted a draft declaration on economic recovery and sustainable development initiated by Vietnam at its third meeting in Hanoi on April 7.