Fed raises rates

Hanoi (VNA) - The State Bank of Vietnam has approved the Asia Commercial Bank (ACB)’s plan to raise its charter capital from 16.6 trillion VND (721 million USD) to 21.6 trillion VND (938.3 million USD). The plan will be implemented via dividend payment in shares to shareholders. ACB plans to issue 498.8 million shares to pay the dividend, equivalent to a total value of 4.98 trillion VND. The payment ratio is 30 percent, meaning every shareholder will receive three new shares for every 10 they hold. The expected issuance time is the fourth quarter of this year. Previously, ACB planned to pay a 2019 dividend in shares and cash. However, due to the COVID-19 pandemic, the State Bank of Vietnam required banks to use resources to reduce interest rates, support businesses and not pay dividends in cash. ACB also plans to pay the 2020 dividend at a rate of not less than 20 percent. In the first six months of this year, ACB recorded a consolidated pre-tax profit of 3.8 trillion … [Read more...] about Central bank approves ACB’s plan to raise charter capital

In the editorial write up accompanying the recognition, Euromoney observed: “Citi is a big financial institution present in virtually every large Asian economy. You don’t get to be this size and to last this long without an innate ability to react smartly and nimbly to systemic threats. Under chief executive Peter Babej, Citi Asia Pacific was quick to react to the coronavirus crisis.” … [Read more...] about Citi Asia Pacific recognized for Excellence in Leadership during COVID-19

Hanoi (VNA) – For the remaining time of the 2020 dry season, saltwater intrusion in the Mekong Delta is predicted to continue and increase amid tidal surges as the rainy season in the southern region comes late, widespread heat waves have begun to occur, and the Mekong River’s flows to the biggest rice production hub of Vietnam continue to fall. Serious saltwater intrusion According to the National Centre for Hydro-Meteorological Forecasting, there have been almost no rains in the Mekong Delta since early February while heat waves with temperatures of over 35 degrees Celsius have been recorded in some areas, leading to stronger tidal surges and saline encroachment into local river mouths. At present, water levels on the mainstream Mekong River are 0.1 – 0.8 metre lower than the average and the same period of 2016, when historic drought and saltwater intrusion were reported. Seawater encroachment in this region rebounded on February 19 and 20. Besides, the water … [Read more...] about Saltwater intrusion in Mekong Delta projected to increase

The Khmer Times quoted the MoEYS spokesman Ros Soveachea said the ministry and the Ministry of Health agreed that if students, their parents, or staff members of 20 education institutions in the first phase of school re-opening returned from an oversea trip before early June, or have not travelled outside of Cambodia, they do not need to undergo COVID-19 tests. … [Read more...] about Latest Coronavirus News in Vietnam & Southeast Asia August 6