11 may panchang 2022

Illustrative image (Photo: nation thailand .com) Bangkok (VNA) - Thailand's domestic car and motorcycle sales may suffer the brunt if Thai financial institutions are affected by the risk of bank failures in the US and Europe, according to the Federation of Thai Industries (FTI). The concern was raised after US and European banking executives and regulators stepped in to save California-based Silicon Valley Bank, New York-based Signature Bank and 167-year-old Credit Suisse in Switzerland from potential crisis. Surapong Paisitpatanapong, FTI Vice Chairman, said that if the financial turbulence cannot be contained, the global financial system will be affected, which may eventually have a negative impact on Thai banks and non-banks that grant loans to car and motorcycle buyers. The FTI is closely monitoring whether global financial institutions will face an impact, he said. The FTI’s Automotive Industry Club predicted that if the Thai auto industry is not … [Read more...] about Thailand’s car, motorcycle sales may be affected by bank failure risk

Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Commercial banks that underwrite and sell corporate bonds have to buy them back if investors so demand, the central bank has said. It followed a meeting with voters (members of the public) the State Bank of Vietnam (SBV) held in Ho Chi Minh City amid the ongoing bond market troubles. Besides asking for underwriting banks to take responsibility for redeeming bonds, the voters also urged the SBV to tighten inspection of credit institutions to ensure they comply with regulations while investing in bonds. The SBV recently raided 11 banks and fined a number of them for violating regulations related to bond purchases. Under current regulations, banks must have an internal credit rating system and can only buy bonds if their bad debts ratio is below 3%. For bonds sold in the domestic market, when issuers cannot pay in full and on time the bond principal and interest, they must negotiate with bondholders for extending the term … [Read more...] about Banks underwriting bonds should buy back bonds: Central bank

The agreement surpasses the VND20 trillion ($850 million) acquisition of a 15% stake in BIDV from KEB Hana Bank (South Korea) in 2019, setting a new record in the banking industry. VPBank announced that it has completed the sale of a 15% equity interest to Sumitomo Mitsui Banking Corp. of Japan, a member of Sumitomo Mitsui Financial Group, in a transaction valued at $1.5 billion. CEO of SMBC Masahiro Yoshimura and Chairman of the Board of Directors at VPBank Nguyen Chi Dung at the signing ceremony today. Photo: VPBank SMBC Group's latest deal with VPBank makes the former a new strategic investor in the latter. The agreement sets a new banking industry record, with a deal value of VND35.9 trillion ($1.5 billion), surpassing the VND20 trillion ($850 million) acquisition of a 15% stake in BIDV from South Korea's KEB Hana Bank in 2019. The investment is expected to increase VPBank's total capital from VND103.5 trillion ($4.4 billion) to around VND140 trillion … [Read more...] about Japan’s SMBC acquires 15% stake in VPBank for US$1.5 billion

The CFA is part of the UK Government's efforts to help Vietnam meet the commitments made by Prime Minister Pham Minh Chinh at COP26 in Glasgow in 2021. Nine low carbon projects from across Vietnam have been announced to be part of the first cohort of the Climate Finance Accelerator (CFA) Vietnam. The selected projects come from diverse sectors including renewable energy, resource and energy efficiency, electromobility, AFOLUs (agriculture, forestry and other land uses), decarbonised construction, circular economy and waste management, and have the potential to benefit communities across Vietnam. Deep C Green is one of the first nine low-carbon projects in Vietnam to join the CFA. Photo: Deepc.vn Projects will receive tailored one-on-one and group support to improve project readiness and chances of attracting investment from Vietnamese and international investors. This will include advice on technical aspects, financial models, and pitch materials, as well as … [Read more...] about UK-funded CFA to support nine low-carbon projects in Vietnam

The cooperation aims to celebrate the 50th anniversary of the diplomatic relationship between Vietnam and Australia. The Australian Trade and Investment Commission (Austrade) is collaborating with businesses and government in Hanoi, Hue, and Danang to deliver the "Vietnam- Australia: Unlocking Opportunities in Education and Agrifood" roadshow series starting on March 27 in Hanoi with the participation of over 400 Australian and Vietnamese businesses, organizations, associations and institutions. The program aims to celebrate the 50th anniversary of the diplomatic relationship between Vietnam and Australia. Australian food and beverage showcase during the seminar took place on March 27 in Hanoi. Photo: Australian Embassy Vietnam At the kick-off event in Hanoi, Andrew Goledzinowski - Australia’s Ambassador to Vietnam shared that the program will deepen engagement and expand opportunities for Australian and Vietnamese partners in the agrifood and education … [Read more...] about Vietnam and Australia boost cooperation in education, agrifood

The Vietnamese broke all three of his own youth world records when he finished 24kg clear of his nearest rival in the men’s 55kg category on March 26. K'Duong, who celebrated his 16th birthday three weeks ago, was the only current world record holder among the men’s entries in Durres. He has made only 11 attempts in his international weightlifting career and he has already set six world records. In the snatch event, he missed his first attempt at 107kg because of a press-out, but successfully managed it the second time to secure the first gold. He then went up 7kg to better his world best by 1kg at the Ramazan Njala Sport Complex. In the clean and jerk, his first attempt of 132kg gave him a sweep of gold. He then jumped 12kg, and just failed with the jerk. However, he came back to make the lift with his final attempt and scored his second record, also 1kg better than the previous one. In total, his combined weight of 258kg brought him the third gold and third record. Last … [Read more...] about Vietnamese lifter K’Duong triumphs at World Youth Weightlifting Championships

In his remarks, Chairman of the People’s Committee Phan Van Mai highlighted the increasingly close ties between the two countries, saying over the past 50 years, the bilateral relationship has grown actively across spheres, both bilaterally and multilaterally. The good traditional friendship has also been consolidated and enhanced, the official added. Notably, during the COVID-19 pandemic, Vietnam presented Italy with more than 300,000 masks, while Italy donated 2.8 million doses of vaccines to the Southeast Asian nation. This vividly demonstrates the intensive and effective strategic partnership and friendship between the two countries, he said. Ho Chi Minh City, for its part, has actively worked to promote cooperation with Italy, Mai noted, adding that the relations between Ho Chi Minh City and Italy have reaped achievements in trade, investment, education and training, culture, and tourism. According to the official, the two-way trade reached 591 million USD last year. For … [Read more...] about 50th anniversary of Vietnam-Italy diplomatic ties celebrated in Ho Chi Minh City

He attributed the obstacles to global fluctuations over armed conflicts, climate change, tightening food safety requirements by importing countries, and high inflation in the US. Data from the Vietnam Directorate of Fisheries under the Ministry of Agriculture and Rural Development (MARD) showed the total brackish water shrimp farming area was 747,000 hectares last year, with total output exceeding 1 million tons, up 8.5% year-on-year. Currently, the country houses 2,294 hectares of shrimp breeding area, which turned out 159.5 billion shrimplets in 2022, an annual increase of 10%. This year, Vietnam aims to expand its shrimp farming area to 750,000 hectares for more than 1 million tonnes in output and 4.3 billion USD in export revenue. Trinh Trung Phi, a technical director at the Vietnamese shrimp company Viet Uc, highlighted the importance of sustainable technological solutions in the growth of the sector. MARD Deputy Minister Phung Duc Tien said that in order to reach the … [Read more...] about Significant efforts needed to realize 4.3-billion-USD shrimp exports

The campaign, taking place from March 24-26, mobilizes 20 vessels and 100 people who gather and bring the styrofoam buoys out of the area for treatment. The styrofoam buoys, which have different sizes, were left by the illegal fish farms that were forced to be removed from the site. They have seriously affected the movements of vessels and the environment around the popular tourist site. A large number of styrofoam buoys, along with other types of waste, have been cleared from the bay on May 24 and 25. Located in the northeast of Vietnam, the bay has attracted visitors from far and wide as it is home to over 1,600 limestone towers and islets covered in tropical trees. Most of the islands are uninhabited and unaffected by humans. It was named one of the most beautiful places in the world to add to any traveller’s bucket list in 2022, according to Canadian travel publication The Travel. Source: VNA … [Read more...] about Floating styrofoam buoys in Ha Long bay collected

It is now nearly impossible to buy a new apartment at the VND 2 billion mark. According to a report in 2022 from Rever, a Southeast Asia technology firm in real estate brokerage, for VND1.5-1.8 billion, one can buy a 30-55 square meter apartment built 6-10 years ago in Thu Duc City, on the secondary market. The average income of workers in Ho Chi Minh City (HCMC) this year is about VND148 million a year, according to property listing platform Batdongsan.com.vn. By that calculation, it will take up to 24 years to save, with no spending on anything, just to buy an apartment. The type of apartment used in this survey costs VND3.5 billion per unit. The data also shows that Vietnam ranks first in Southeast Asia in terms of the gap between house prices and average worker incomes. From 2018 to 2021, the ratio of the difference between real estate prices and the average income of Vietnamese has continuously increased, surpassing even Singapore. On the other hand, Indonesia, Malaysia and … [Read more...] about A laborer needs to save for 25 years to buy an apartment