Business

Go-Viet drivers strike over new bonus policy in Ho Chi Minh City

Go-Viet drivers strike over new bonus policy in Ho Chi Minh City

Go-Viet drivers in Ho Chi Minh City went on strike on Thursday to show their dissatisfaction with the new bonus regulation applied by the ride-hailing service from midnight the same day.

Firms have high hopes on EVFTA

Vietnamese businesses are having high hopes for bigger market shares in the European Union (EU) thanks to the bilateral free trade agreement (EVFTA) signed recently.

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Vietnam faces power shortage due to sluggish projects

As many as 47 electricity projects are behind schedule which will lead to serious power shortage in the 2021-2025 period according to the Ministry of Industry and Trade.

 >>  Chinese electricity import increase proposed
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Banks raise interest rates to serve capital demand by year’s end

About half of commercial banks, mainly small and medium ones, are listing deposit interest rates at a relatively high level of over 8% per year in a bid to raise capital to meet Basel II standards.

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PM Phuc: Japan one of Vietnam’s leading economic partners

Japan is one of Vietnam’s leading economic partners, Prime Minister Nguyen Xuan Phuc has affirmed this at a reception in Hanoi on July 18 for Yanai Tadashi, Chairman and CEO of the Japanese group Fast Retailing.

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Former BIDV chairman Tran Bac Ha dies in prison

Former Chairman of the Board of Directors of the Bank for Investment and Development of Vietnam, Tran Bac Ha, who was detained last year for being suspected to be involved in banking operation violations, died on Thursday.

 >>  Former BIDV Chairman Tran Bac Ha arrested
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Chinese electricity import increase proposed

The Ministry of Industry and Trade has proposed an increase in Chinese electricity imports to ease the domestic power shortage.

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Asia and Pacific growth steady amid global trade tensions: ADB

Developing Asia will maintain strong but moderating growth over 2019 and 2020, as supportive domestic demand counteracts an environment of global trade tensions, according to a new Asian Development Bank report released today.

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Foreign financial institutions were eyeing up poorly-performing Vietnamese banks after being given the green light to acquire stakes in local institutions in a move to speed up the restructuring of the country’s banking industry, according to banking expert Nguyen

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Vietnam had 12,327 people with USD3 million to below USD30 million in net assets by the end of 2018, up 23% over the past five years and the figure is projected to reach 15,776 people by 2023.

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Many banks have seen their service earnings accelerate, buoyed by increasing investment for the business segment and rising market demands.

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Vietnam has set a target to restrain inflation at below 4% in 2019, however, there may be challenges.

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Vietnam’s public debt in 2018 was estimated to account for less than 61% of national GDP, according to an official from the Ministry of Finance.

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Local banks have increasingly sought cross-border borrowings in recent years after being pressured to raise capital for lending.

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