HÀ NỘI — Young Vietnamese filmmakers will have the chance to compete in the final round of a filmmaking contest in Japan. They are the winners of the Kid Witness News (KWN) filmmaking contest launched by Panasonic Vietnam. The contest was held for secondary and high school students in Hà Nội. Winning filmmakers in the 13-18 year old category. — Photo organisation board “Each film tells me a different story and shows the student’s deep care about the earth, environment, family, friends and various matters they observe,” said Kazuhiro Matsushita, General Director of Panasonic Vietnam. “Their views are clear, and the way of expressing is unique. By learning to make films, they can better understand what is happening in daily life and express their opinions about those matters.” A film entitled Con Nhà Người Ta (Other Families’ Kids) earned first prize in the 10-12 … [Read more...] about Filmmaking contest names winners
English news
FLC Faros chairman to slash stake by 12.3%
FLC Faros Construction Corp's chairman plans to cut his ownership in the enterprise by 12.34 per cent to 55 per cent by October 4, 2019. — Photo flcfaros.vn HÀ NỘI — FLC Faros Construction Corporation (FLC Faros)’s chairman wants to offload his 12.34 per cent stake in the company. Billionaire Trịnh Văn Quyết, also known as the chairman of the property developer FLC Group, plans to sell 70 million shares at FLC Faros. If the deal is done, he will cut his ownership in the building contractor from 67.34 per cent of charter capital to 55 per cent. His holding will fall from more than 382.2 million shares to more than 312.2 million shares after the deal. The shares will be sold through put-through transactions, which is an optional contract reached between the shareholder and the buyers and shares are sold at an agreed-upon price regardless of the share price. Trading takes place between September 5 and October 4, 2019. FLC … [Read more...] about FLC Faros chairman to slash stake by 12.3%
Vietnam warned its woodworks may be taxed by the US
Vietnam’s woodwork industry runs the risk of being watched by the US government for taxation as its export turnover has soared, especially in the context of the sharp rise in Chinese investment. Reports show that Chinese investors have poured big capital into woodwork projects in Vietnam. Vietnam exported $3.6 billion worth of wooden products in 2018, an increase of 30 percent over 2017. In the first four months of 2019, the export turnover hit $1.4 billion, or 1.4 times higher than the same period last year. If the Q1’s export expansion can be maintained, Vietnam would become the seventh largest woodwork supplier in the US in 2019 instead of the 12th, Phuc predicted. Kim Chi Woodwork exports soar, but it’s not all good news Woodwork exports increased sharply in Q1, partially thanks to higher demand from the US. However, experts say this may not be good news for the industry. Surge in woodwork exports Stateside raises concerns Although … [Read more...] about Vietnam warned its woodworks may be taxed by the US
VN central bank to keep monetary policy on hold through 2019
The State Bank of Vietnam (SBV) will hold its benchmark refinancing and discount rates at 6.25% and 4.25%, respectively, in addition to maintaining its 14% credit growth target for the remainder of 2019, experts forecast. Headquarters of the State Bank of Viet Nam in Ha Noi. The SBV will maintain its 14 per cent credit growth target for the remainder of 2019. — Photo SBV “We expect the SBV to keep its monetary policy on hold for the remainder of 2019. Monetary policy transmission in Viet Nam remains weak and this informs our view for the SBV to continue to manage financial risks through non-interest rate measures such as loan directives and macro-prudential measures,” analysts from Fitch Solutions told Viet Nam News. On the one hand, the analysts said, Viet Nam’s five-year government bond yield stands at 3.85 per cent, below the SBV’s discount rate of 4.25 per cent, and this continues to suggest that monetary policy transmission is still … [Read more...] about VN central bank to keep monetary policy on hold through 2019
Banks report high profits, but decide not to pay dividends
Banks, which all reported big profits for 2018, are using the money to improve their financial capability. Twenty-one out of 25 commercial banks which have publicized their 2018 finance reports reported positive profit growth, of which 16 banks reported profit of VND1 trillion and more. With great advantages in assets and operation scale, Vietcombank stands firmly in the No 1 position with the pre-tax profit of VND18.269 trillion in 2018, a sharp increase of 61 percent compared with 2017. The No 2 position belongs to a private bank. Techcombank reported profit of VND10.661 trillion, up by 32.7 percent over the year before. This is the first time a private bank has made such a high profit. In Vietnam, private banks are smaller and less prestigious than state-owned banks. All the ‘big four’ banks in Vietnam are state owned, namely BIDV, Vietcombank, Agribank and VietinBank. The third position belongs to BIDV and the fourth to VP Bank, a private bank, with profits … [Read more...] about Banks report high profits, but decide not to pay dividends
