The newly-launched Vietnam Stock Exchange is expected to streamline the national equities market, but there remains a possible risk of more red tape for investors and listed firms. Despite the introduction of the Vietnam Stock Exchange, the Hanoi and Ho Chi Minh City exchanges will continue to run separately, Photo: Le Toan Prime Minister Nguyen Xuan Phuc recently approved the plan to set up the Vietnam Stock Exchange (VSE), a state-owned entity that regulates the existing Hanoi Stock Exchange (HNX) and the Ho Chi Minh City Stock Exchange (HSX). The new VSE, scheduled to be launched in Hanoi in 2020, will have VND3 trillion ($130 million) in capital, whilst the two stock bourses it controls will continue to run independently from one another. The VSE will be wholly-owned by the Ministry of Finance until its scheduled equitisation in 2023. According to the plan, it will take over the supervision of the HNX and HSX, as well as launch new regulations for market activities. The … [Read more...] about Could new bourse end city rivalry?
Bombay stock exchange and national stock exchange
MUMBAI -- India’s government fully endorses a dramatic move by domestic exchanges to cut off data to global bourses, sources familiar with the matter said, seeing it as vital to lure foreign investments into the country from Singapore and other financial centers. It was only after receiving the endorsement that India’s three private stock exchanges - National Stock Exchange, BSE Ltd and MSEI Ltd - proceeded with the joint announcement on Feb. 10 to stop providing data to foreign rivals, said two senior officials at the bourses. The sources declined to be identified because they were commenting on internal deliberations. A senior finance ministry official said New Delhi had held “wide consultations” on whether to support the exchanges’ actions, and concluded it was needed to allow a new international finance center being set up in India “to compete with Singapore and Dubai.” “We have to balance the needs for domestic interests and our … [Read more...] about Indian exchanges cut ties to foreign bourses after government nod: sources
Indian Railways plans to rack up debt to help fund an unprecedented modernization plan. Some 2.5 trillion rupees ($37 billion) of debt is required in the five years through 2020, according to Railway Minister Suresh Prabhu. That’s more than triple the 692 billion rupees of outstanding Indian Railway Finance Corp. bonds. The network is also exploring non-fare revenue streams from advertising and land holdings, Prabhu said. "Very soon we’d go out to the market to open up advertising and branding on most of our trains and stations," Prabhu said in e-mailed replies to questions. "Indian Railways has various land banks which we are looking to monetize through long-term leases and other commercial development." The world’s fourth-largest railroad aims to pour 8.6 trillion rupees into new tracks, faster trains and station redevelopment to drag a network with roots in British colonial rule into the 21st century. Indian Railways carries about as many passengers daily as … [Read more...] about Asia’s oldest railway plans more debt than GDP of some nations