Laos, China sign currency settlement agreement World

Laos, China sign currency settlement agreement

Laos and China have agreed to facilitate the direct exchange of the Lao kip (LAK) and the Chinese yuan (CNY) instead of having to making conversions through other currencies previously.
Banks report higher profits Business

Banks report higher profits

Banks are reporting better profits for the third quarter this year, with Vietcombank leading the way despite the predicted slowdown in credit growth.
ASEAN local currency transactions promoted World

ASEAN local currency transactions promoted

The Philippines has agreed to join the local currency settlement (LCS) framework which Indonesia, Thailand and Malaysia have operated over the past two years, in an effort to expand intra-ASEAN trade and investment as well as strengthen the regional economic integration.
Draft simplifies SOE stake bidding for foreigners Business

Draft simplifies SOE stake bidding for foreigners

The State Bank of Vietnam has drafted a regulation which would create favourable conditions for foreign investors to join in the process of State-owned enterprises’ (SOEs) privatisation and capital divestment.
SMEs upbeat on export prospects Business

SMEs upbeat on export prospects

Up to 57 percent of surveyed small- and medium-sized enterprises (SMEs) in Vietnam believe they will continue to enjoy growing export, according to a research recently conducted by market research company Harris Interactive on behalf of FedEx Express.
Five Colombian men imprisoned for property theft Society

Five Colombian men imprisoned for property theft

The Hanoi People’s Court on April 18 sentenced five Colombian nationals to between seven and 13 years imprisonment on charges of “property theft” in accordance with Article 138 of the Penal Code.