Deutsche Bank appoints new chief country officer for Vietnam Deutsche Bank has just announced the appointment of Hans-Dieter Holtzmann (49) as chief country officer and head of Global Transaction Banking (GTB) in Vietnam, effective from August 16, 2018. In his capacity as chief country officer, Holtzmann will report to Werner Steinmueller, member of the Management Board and APAC Head of Deutsche Bank, and in his GTB capacity, to Kaushik Shaparia, head of Global Subsidiary Coverage, GTB Foreign Exchange and Corporate Cash Management for Asia. Announcing the appointment, Steinmueller said, “We are pleased to have a colleague of Hans-Dieter’s caliber in this role. As one of our key markets in Southeast Asia, our Vietnamese franchise has shown profitable growth and we are excited about the country’s outlook. This is why last year we significantly increased our capital base in this market, providing the bank with more resources to support our clients’ … [Read more...] about BUSINESS NEWS IN BRIEF 20/8
Central bank of india net banking
BUSINESS NEWS IN BRIEF 18/8
Danang aims to attract Russian touristsThe central coastal city of Danang is striving to lure more Russian and European tourists in a bid to diversify international visitors, but it is facing some difficulties with weather conditions and air routes, which should be addressed to meet the target.The leader of the Danang government, who is on a visit to Europe, is working with Russian travel firm ANEX Tour in Moscow City to discuss a plan on tourism promotion. The tour is scheduled to conclude on August 21.Tourism experts noted that it is necessary to increase the number of Russian and European visitors to Danang City to diversify tourist sources, adding that certain factors, such as weather, may affect these efforts.Russian tourists tend to travel to Danang City between October and February to avoid freezing weather in their country, but unfortunately, this is also the storm season in the city.According to Nguyen Duc Quynh, deputy general director of Furama Resort Danang, many tour … [Read more...] about BUSINESS NEWS IN BRIEF 18/8
BUSINESS NEWS IN BRIEF 8/8
VIB buys back all bad debt from VAMC Vietnam International Bank (VIB) announced last week that it has repurchased more than VND1.46 trillion (US$64.2 million) worth of debt from the Viet Nam Asset Management Company (VAMC). With this move, VIB was recognised by the State Bank of Viet Nam and VAMC as one of four banks which required all bad debts that they sold to VAMC. Three others are Vietcombank, Techcombank and MBBank. Earlier in July, VIB released its financial report in the first half of 2018 with a profit of over VND1.15 trillion ($51 million), triple that of the same period last year, or equivalent to 57 per cent of the yearly target. During the period, the banks’ net revenue reached VND2.7 trillion, up 56 per cent year-on-year, while its lending saw a yearly rise of 9 per cent to VND91.7 trillion. From January to July, VIB’s Capital Adequacy Ratio (CAR) was maintained at 12.5 per cent while the cost-income ratio (CIR) stood at 49 per cent, … [Read more...] about BUSINESS NEWS IN BRIEF 8/8
BUSINESS NEWS IN BRIEF 5/8
VNR to keep divesting its subsidiaries Vietnam Railway Corporation (VNR) wants to continue the divestment of its subsidiaries, aiming to improve competitiveness and attract investors to enhance efficiency after three years on a downward spiral. A report on the results of the first six months of 2018 from VNR shows that all of its business indicators are on the rise, with revenue amounting to some VND4,000 billion, up 17.8% year-on-year, and with profit reaching VND106 billion. According to the report, the growth in revenue results from a series of renovation solutions for railway services, including replacing new cars, flexibly increasing and decreasing ticket prices depending on the market demand and linking to the tourism sector to attract passengers in groups. As railway transport models are still facing challenges, VNR has been forced to continue rearranging and restructuring its mechanisms and activities to sustain its operations and develop further. Besides this, the corporation … [Read more...] about BUSINESS NEWS IN BRIEF 5/8
Malaysia’s FDI flows drop to 10.09 billion USD in 2017
Malaysia’s FDI flows drop to 10.09 billion USD in 2017 (Illustrative image. Source: internet) Hanoi (VNA) – The flows of foreign direct investment (FDI) in Malaysia fell 12.77 percent year-on-year to 41 billion ringgit (10.09 billion USD) in 2017, after reaching a new high of 47 billion ringgit in the previous year, the Department of Statistics of Malaysia reported. The FDI flows last year was mainly channeled in services sector (48.2 percent), particularly in real estate, financial and insurance or takaful (Islamic insurance); information and communication activities. The mining and quarrying industry (31.2 percent) was the second contributor, followed by the manufacturing sector (15.7 percent). Asia was the main driver for Malaysia's FDI, accounting for 63.5 percent of the total, followed by Europe and Africa. Within Asia, China's Hong Kong remained as the prominent investor with 7.5 billion ringgit, while China (6.9 billion ringgit) overtook Singapore as the second … [Read more...] about Malaysia’s FDI flows drop to 10.09 billion USD in 2017