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Kang Min Ho, General Director of Lotte Mart Vietnam, and Shin Dong Min, CEO of Shinhan Bank in Viet Nam, at the signing ceremony in HCM City on November 21. — Photo courtesy of Shinhan Bank Shinhan Bank Vietnam Ltd. signed a deal with Lotte Vietnam Shopping Joint Stock Company (Lotte Mart) to launch a co-branded credit card in HCM City on Thursday. Shinhan - Lotte Mart card offers cardholders exclusive Lotte Mart privileges like unlimited points in their membership accounts at a rate of up to 2.5 per cent. Until April 30 next year credit cardholders can get 2.5 per cent cashback for payment at Lotte Mart stores and a 5 per cent discount on Speed L. The card uses contactless payment technology. Speaking at the launch, Kang Min Ho, general director of Lotte Mart Vietnam, said: “Our partnership with Shinhan Bank goes together with the goal of bringing convenient shopping experiences to customers at Lotte Mart.” Shin Dong Min, CEO of Shinhan Bank in Viet Nam, said: … [Read more...] about Shinhan Bank, Lotte Mart launch co-branded card

After raising deposit interest rates in the third quarter of 2019, some commercial banks continue to push up interest rates in the last quarter of the year in order to mobilize capital to meet the needs of enterprises in the peak business season. According to a macro report released by the BIDV Training and Research Institute, as of October 2019, deposit interest rates recorded the highest level of 10 percent a year (five-year certificates of deposit), much higher than earlier this year. Many commercial banks have listed new long-term interest rates of as much as eight percent per year for terms of over 12 months, even 9-10 percent per year on certificates of deposit. Nam A Bank has applied interest rates of 8.5 percent per year for terms of 18 months and 24 months. Eximbank has applied interest rates of 8.4 percent per year for deposits of more than VND100 billion, while customers with deposits of more than VND300 billion can enjoy interest rates of eight percent per year at … [Read more...] about Credit, deposit interest rates to expand toward year’s end

The Indonesian government strives to bring the country's economy to grow to 5.6 percent in 2020 (Photo by Indonesia's Coordinating Economic Ministry)   Jakarta (VNA) – The Indonesian government has set an economic growth target of 5.6 percent in 2020, up from the 5.3 percent targeted this year, said Coordinating Minister for the Economy Airlangga Hartarto. The figure is mainly supported by investment and exports, which are expected to increase by 7.0-7.4 percent and 5.5-7.0 percent, respectively. On the supply side, economic growth is expected to be supported by the industrial sector which will increase between 5.0-5.5 percent. The unemployment rate is expected to fall to 4.8-5.0 percent, accompanied by a reduction in the poverty rate of between 8.5 and 9.0 percent. In a speech at the 2019 US-Indonesia Investment Summit in Jakarta on November 21, Hartarto said the government has mapped out strategies and priorities to be made to face economic challenges in 2020, both … [Read more...] about Indonesia targets 5.6 percent economic growth in 2020

The A321neo will enable AirAsia to offer higher capacity in response to the strong demand across its network as well as to open up new routes with the highest levels of efficiency. AirAsia will initially operate the aircraft from its Kuala Lumpur hub to cities across Asia, with the first destinations including Kuching, Kota Kinabalu, Singapore, Bangkok, and Shenzhen. AirAsia’s A321neo features a single-class layout with 236 seats in the widest single-aisle cabin in the sky. AirAsia is Malaysia's low-cost airline, currently flying to 130 destinations across the Asia-Pacific, including Vietnam. The A321neo is a member of the best-selling A320 family, delivering 20 per cent reduced fuel burn as well as 50 per cent less noise compared to previous generation aircraft. The A320neo family incorporates the very latest technologies including new generation engines and Sharklets. At the end of October 2019, the A320neo family had received more than 7,000 firm orders from over 110 customers … [Read more...] about AirAsia takes delivery of its first A321neo

Vietnam Economy HSBC economists report on Vietnam’s prospects during 10-day visit By Thanh Thom Friday,  Nov 22, 2019,10:25 (GMT+7) HSBC economists report on Vietnam’s prospects during 10-day visitBy Thanh Thom A worker operates equipment at the Phu My 1 thermal power plant in the southern province of Ba Ria-Vung Tau. Vietnam’s manufacturing worker wages are among the lowest in Asia, but the growth rate is high – PHOTO: VNA HCMC – Limited land and labor resources, increasing wages and a lack of local suppliers in Vietnam could make the cost/benefit equation less attractive for foreign direct investment (FDI) firms in the foreseeable future, HSBC said in its latest Asia Frontier Insights report, pointing out various issues that need to be addressed to ensure continued growth. During their 10-day visit to Vietnam, HSBC economists found that rising land costs and the availability of appropriate … [Read more...] about HSBC economists report on Vietnam’s prospects during 10-day visit