VietNamNet Bridge – In Southeast Asia, Vietnam is becoming an attractive tourist destination as shown by impressive hotel occupancy rates, which reached 75% this June in Hanoi, the highest in the last five years, reported CBRE. According to CBRE report on the hotel market of Vietnam in the second quarter of 2016, foreign arrivals to Vietnam grew by 21% in the first half. By the end of June, the hotel occupancy rates in HCM City and Hanoi were impressive, with 65%-75%, respectively. The rate for Hanoi reached a five-year record, competing with Bangkok for the top position in the region. CBRE said that in the future, the hotel and resort market of Vietnam can grow thanks to the growing interest in the world, and policies to encourage tourism development of local authorities and the ease of the visa policy. The visa-free policies also contribute to an increase of international tourists to Vietnam to 13.5% year on year. The internationally known hotel management units as Accor, … [Read more...] about Hanoi hotel occupancy rate hits 5-year high
Highest 5 year jumbo cd rates
VietNamNet Bridge - The difficulties Vietnam has to face in the next five years will increase as ODA loans will be cut by 50 percent, while new loans will bear an interest rate of 3 percent. The new government has made the first decision in its tenure – setting up economic goals for the next five-year development period to 2020. The state budget deficit and the inflation rate, the two important indexes, have been set up at below 4 percent. The National Assembly’s resolution pointed out that the interest rate policy must be regulated in a flexible way in accordance with the performance of inflation. Which macroeconomic tools will the government use to drive the national economy to be sure it can go on the normal track in the next five years? The difficulties Vietnam has to face in the next five years will increase as ODA loans will be cut by 50 percent, while new loans will bear an interest rate of 3 percent. The budget deficit and inflation rates are variables which … [Read more...] about Are the next 5-year economic goals attainable?
According to the United Nations, more than 1 thousand people in Iraq died violently in July, the highest monthly total in Iraq in the last 5 years. According to the United Nations Assistance Mission in Iraq (UNAMI), in Baghdad, where most of the violence occurred, the death toll hit 957. Gyorgy Busztin, UN Deputy Special Representative for Iraq, called on Iraq's politicians to act quickly to end the bloodshed. Escalating tensions between Sunnis and Shiites began in December, 2012, when Muslim Sunnis started protesting the Shiite-led government. … [Read more...] about Iraq: Violent deaths in July highest in 5 years
Vietnam's bonds rose, driving the three-year yield to the lowest level in almost five years, on speculation the central bank will reduce interest rates as inflation slows. The dong was steady. Some Vietnamese banks have cut local-currency deposit rates to as low as 7.5 percent, Tuoi Tre newspaper reported yesterday. The central bank in December lowered the cap on dong deposit rates to 8 percent from 9 percent. Consumer prices in Ho Chi Minh City dropped 0.29 percent this month from February, and declined 0.21 percent in Hanoi, online newswire CafeF reported March 20. "Easing inflation will give room for the central bank to lower interest rates further, so investors are buying bonds in anticipation of rate cuts," said Hoang Thanh Tam, head of the fixed-income department at Vietnam Maritime Commercial Joint- Stock Bank in Hanoi. The three-year yield fell 13 basis points, or 0.13 percentage point, to 8.23 percent, the lowest since March 31, 2008, according to a daily fixing from … [Read more...] about Vietnam yield falls to 5-year low on rate outlook
The interbank overnight interest rate has tumbled to 2.5 percent a year, the lowest rate since the figure was set for the first time 5 years ago. The rate was first set on July 23, 2007, falling 0.5 percent from the previous rate of 3 percent, according to the State Bank of Vietnam (SBV). The new rate, dropping from the previous rate of 3-3.6 percent, is the lowest since 2005, according to Reuters data. On the interbank market, the interbank interest rate for a one-week term has also fallen to 3.5-4 percent a year, down sharply from 4-4.5 percent a year. The interest rate for a 1-month term has also dropped from 6-7 percent to 6-6.5 percent a year. On the open market operations (OMO), interest rates of treasury bills (T-bills) have also declined to 5.8-10.23 percent a year. However, many commercial banks continue to buy T-bills at a daily volume of some VND3 trillion. The total amount of money commercial banks have spent on T-bills since March 15 is more than VND80 … [Read more...] about Interbank overnight rate dips to 2.5pct, 5-year low