European central bank

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

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

VPBank provides QR codes for its services. — VNA/VNS Photo Tran Viet For Viet Nam to fully tap into the digital future, experts say institutions and policies must be reformed to reflect Government commitments. Phung Anh Tuan, executive vice chairman and secretary general at Viet Nam Association of Financial Investors (VAFI), passed the remarks at the Fintech Revolution Summit in Ha Noi on Monday. The summit is taking place on Monday and Tuesday in Ha Noi and is attended by BFSI experts, fintech leaders, ministry and central bank authorities, investors and corporates across Viet Nam. The Vietnamese Government is advocating the development of a digital economy and promoting industrial revolution 4.0, said Tuan. Many directives have been on promoting non-cash and electronic payments, including Resolution 02, dated January 1, 2019, and Decision 1813, dated October 28, 2021. The policy and law-making process should reflect the Government's commitments, noted Tuan. The VAFI … [Read more...] about Experts call for institutional and policy reforms to unlock Viet Nam’s digital future

At the event, experts and delegates proposed ideas for enterprises to carry out their social responsibility for environmental protection, and underlined the benefits that it brings. Nguyen Dinh Phuc, Vice Chairman of the municipal Union of Science and Technology Associations, said more enterprises are willing to use their corporate social responsibility (CSR) fund to finance environmental projects carried out by social organizations. However, the coordination between the two sides still faces certain issues, he said, adding that events like this program will help the sides find shared values and enhance their cooperation in the future. The activity was part of a project on pooling financial resources for sustainable biodiversity conservation and environmental protection in Da Nang city, or known as Vietnam Wildlife Conservation Fund project, which is funded by the European Union Delegation to Vietnam. The project aims to establish a fund for the conservation of wild flora and … [Read more...] about Enterprises’ social responsibility in biodiversity conservation highlighted

The Vietnamese rice industry is set to benefit from the high demand and prices this year, with lower input costs leading to expanded profit margins for rice businesses. A rice field in Vi Thuy district in the Mekong Delta province of Hau Giang. Vietnam will benefit from the upward trend in rice prices due to limited supply. (Photo: VNA) According to an expert from Vietnam Securities Company Limited Bank for Foreign Trade (VCBS), the country's rice industry enjoys favourable factors, such as weather and geographical advantage. The prolonged drought in China has caused a decrease in the country's output for the 2021-2022 crop, leading to an anticipated six million tonne increase in rice imports for the 2022-23 crop. Meanwhile, inventories in the Philippines have declined due to typhoons and high fertiliser costs, leading to increased rice imports. The cultivated area in India has also dropped due to drought, making the decrease in supply - the main factor for … [Read more...] about 2023 set to be favourable for Vietnamese rice enterprises

International tourists can have a better travel experience in the beautiful Asian country with warnings and advice from a British expat in Hanoi. Do not wear swimsuits in the city, be respectful around shrines and do not get upset if someone is late for an appointment... are some tips for international travelers visiting Vietnam for the first time. Foreign travelers may find various interesting things in Hanoi. Photo: Ka Long Having lived in Vietnam since 2010, Ian Paynton, founder of the Hanoi-based content agency We Create Content, has shared what he's learned about Hanoi with The Insider. There's so much to explore in Vietnam, from cities and villages to mountains, beaches, and grottos, according to www.insider.com . The country is also one of the most affordable places in Southeast Asia to visit. In 2019, the number of tourist arrivals in the country was around 18 million. In addition, more and more expats from around the world are choosing Vietnam … [Read more...] about Seven things international visitors to Vietnam should keep in mind