Support from the State is urgently needed to help firms maintain operation and surmount challenges as the COVID-19 pandemic has dealt a heavy blow to most manufacturing and services businesses, according to head of the Prime Minister’s economic advisory group Nguyen Duc Kien.
The State Bank of Vietnam has asked banks to further reduce operating costs in the remaining months of the year in order to continue lowering interest rates to support COVID-19 affected firms and individuals.
Interest rates of home loans at commercial banks have tended to reduce significantly since the second half of July due to low capital demand from business and production.
The State Bank of Vietnam (SBV) has asked banks to further reduce operating costs in the remaining months of the year in order to continue lowering interest rates to support COVID-19 affected firms and individuals.
Indonesia’s foreign exchange (forex) reserves increased to 135.1 billion USD in July, the highest level ever, following the government’s move to issue global bonds, Bank Indonesia (BI) has announced.
The Indonesian Government is planning to expand its social aid programme and incentives for micro, small and medium enterprises (MSMEs) in an effort to boost consumer spending and revive the economy in the second half of this year.
The public debt of Laos may increase to as much as 65 to 68 percent of its gross domestic product (GDP) in 2020 following a sharp fall in national revenue collection alongside an increase in loans due to the COVID-19 pandemic, Vientiane Times reported.
The International Finance Corporation (IFC) – a member of the World Bank Group – will provide another 40 million USD for the Orient Commercial Bank (OCB) to help with the support of COVID-hit clients, especially small and medium enterprises (SMEs).
The socio-economic situation in the southernmost province of Ca Mau is recovering, with many major targets reached, according to the Chairman of the provincial People’s Committee Nguyen Tien Hai.
The Indonesian government is set to provide cash transfers and working capital loans for micro, small and medium enterprises (MSMEs) in its latest bid to boost economic growth amid the COVID-19 pandemic.
The HCM City Development Joint Stock Commercial Bank (HD Bank) reported impressive results on August 3 for the first half of 2020, with pre-tax profit growing 31.5 percent year-on-year to over 2.9 trillion VND (124.3 million USD).
The Philippines' outstanding debt soared past 9 trillion pesos (roughly 183.9 billion USD) as of the end of June as the government borrowed more to fight the COVID-19 pandemic, the Philippines Bureau of Treasury said.
The Government’s Decree 81, which comes into effect on September 1, will help raise the corporate bond market standards and remove low-quality issuers to better protect investors.
The steering committee for the restructuring of credit organisations held a meeting in Hanoi on July 27 under the chair of Prime Minister Nguyen Xuan Phuc.
Indonesia’s Financial Services Authority (FSA) has revised the country’s credit growth down to just 4 percent this year compared to 2019 - far from the initial 11 percent.
Some organisations have rushed to sell shares of Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) to retrieve bad debts, but it was not easy to find buyers agreeing with the offered price.
The Long Thanh International Airport needs employees who are not only professional and disciplined but also know foreign languages, leaders of training institutions have said.
Sacombank has released its consolidated financial statements for the second quarter, with pre-tax profit going up by more than 10 percent from the same period last year to 441 billion VND (19 million USD).
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