Vietnam will establish a working group that will aim to improve the country's sovereign credit rating, Finance Minister Vuong Dinh Hue said in a statement on Tuesday. Moody's Investors Service has a negative outlook on the country's B1 credit rating, four levels below investment grade. The New York-based company downgraded Vietnam's long-term foreign-currency rating in December 2010, as did Standard & Poor's. … [Read more...] about Vietnam sets up working group to help improve credit rating
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ADB helps boost credit for enterprises in Kyrgyz
(CPV) - ADB has approved a USD10 million loan to help Bai Tushum Bank (BTB) provide critically needed medium- and long-term funding to micro, small and medium-sized enterprises (MSMEs) in the Kyrgyz Republic. The loan assistance will be complemented by capacity development technical assistance for BTB to develop mobile banking products, and run financial literacy training in rural areas. The National Bank of the Kyrgyz Republic currently estimates the unbanked population in the country at 80%. The country’s low level of financial sector development limits MSMEs’ access to credit. "MSMEs are key contributors to poverty reduction by increasing individual incomes and creating employment," said Monisha Hermans, Investment Specialist with ADB’s Private Sector Operations Department. "The provision of medium and long-term financing is essential for MSMEs to expand and reach higher levels of productivity and competitiveness." The ADB loan and technical assistance will … [Read more...] about ADB helps boost credit for enterprises in Kyrgyz
Integrity and Ethics Help Build Practitioner Reputation and Prestige
The Institute of Chartered Accountants in England and Wales (ICAEW), the world's oldest body in accountancy and finance, presented the key findings of the Real Integrity Report on May 8 in Hanoi. The discussion was led by David Stevens, ICAEW’s expert on ethical codes and market as well as by Giles Cooper, Vice Chairman of AusCham Vietnam. Co-hosted by Eurocham, BBGV, VBF, Auscham and Cancham, this was part of ICAEW’s International Thought Leadership Road Show, reflecting their effort in the enhancement of transparency, integrity and ethics in business and within the accountancy profession. Integrity and moral values, while almost always expected, are rarely understood thoroughly by many organizations and their employees. These are codes of ethics that are consistently encouraged in thinking and behaviours, especially in finance and accounting. Evidence indicates that most business and professional crises and scandals stem from non-compliance with these ethical codes. … [Read more...] about Integrity and Ethics Help Build Practitioner Reputation and Prestige
Integrity and Ethics Help Build Practioner Reputation and Prestige
The Institute of Chartered Accountants in England and Wales (ICAEW), the world's oldest body in accountancy and finance, presented the key findings of the Real Integrity Report on May 8 in Hanoi. The discussion was led by David Stevens, ICAEW’s expert on ethical codes and market as well as by Giles Cooper, Vice Chairman of AusCham Vietnam. Co-hosted by Eurocham, BBGV, VBF, Auscham and Cancham, this was part of ICAEW’s International Thought Leadership Road Show, reflecting their effort in the enhancement of transparency, integrity and ethics in business and within the accountancy profession. Integrity and moral values, while almost always expected, are rarely understood thoroughly by many organizations and their employees. These are codes of ethics that are consistently encouraged in thinking and behaviours, especially in finance and accounting. Evidence indicates that most business and professional crises and scandals stem from non-compliance with these ethical codes. … [Read more...] about Integrity and Ethics Help Build Practioner Reputation and Prestige
Ethanol in crosshairs as deadline nears on tax credit
Ethanol, once seen as an answer to US energy problems, is seeing political support waning as a deadline nears for Congress to decide on extending tax subsidies for the widely used biofuel. US lawmakers have until December 31 to prolong the subsidy, which costs the US government an estimated six billion dollars a year, but the earlier broad support for the fuel from farmers and environmentalists appears to be wavering. Critics say ethanol, made mainly from corn in the United States, has diverted too much grain from food to fuel, and has done little to ease greenhouse gas emissions. Now, a coalition Tea Party activists and a range of environmental and community groups is urging lawmakers to scrap the subsidy. Letting the subsidies expire "will help control deficit spending without in any way hindering the development of advanced biofuels, which can help us meet our energy, environmental and food security needs in a fiscally responsible manner," said the coalition, which includes … [Read more...] about Ethanol in crosshairs as deadline nears on tax credit