Intellectual property

The 1% increase of over VND100 trillion ($4.1 billion) should be implemented in December and January, according to the association. HoREA chairman Le Hoang Chau told VnExpress that the quota increase would be necessary to help pump capital into the real estate market and other key sectors. With Tet -- the lunar new year festival and Vietnam’s largest holiday -- approaching at the end of January, an urgent decision is needed to help bolster sales, he added. Chau said that property developers, homebuyers and investors are in trouble because they don’t have enough access to credit . Many companies do not have enough cash to maintain operations and without timely action the market could plumet into crisis, he said. He warned that the consequences of such a crisis could lead to a full-blown economic recession. The capital booster will help homebuyers purchase property at reasonable interest rates, he added. … [Read more...] about Real estate association wants $4B credit quota hike

On November 22, Hanoi-headquartered commercial lender Techcombank applied a new deposit interest rate chart, with the new rate inching up 30 basis points per year for six-month terms and beyond compared to the previous chart. The ceiling deposit rate is pegged at 9.3 per cent annually and catered to new VIP depositors. Deposit rate hikes are expected to continue early next year amid liquidity constraints VPBank has also joined the rate hike race with 30 basis points addition on average. The bank’s ceiling raising rate now reaches 9.3 per cent yearly for an 18-month term and beyond and from 9.1 per cent for a 12-month term. For its prime savings package, the highest deposit interest rate reaches 11.1 per cent annually for the first month of a 36-month term and 9.25 per cent yearly for successive months. A rate of around 9 per cent is currently common across banks. GP Bank has capped its ceiling deposit rate at 9.6 per cent, per year for 13 months and beyond, and … [Read more...] about Deposit rate hikes still lingering

An overview of the conference (Photo: VNA) Prague (VNA) – A conference was held in the Czech Republic on December 1 to highlight President Ho Chi Minh’s sentiments towards overseas Vietnamese and intellectuals. Attending the online event from Hanoi, Prof. Dr. Hoang Chi Bao, a senior expert from the Ho Chi Minh National Academy of Politics, told stories about the late leader's life and revolutionary career, and his attention and sentiments for the Vietnamese community abroad. Stories on President Ho Chi Minh and famous figures reflected the leader’s respect to talents and the way he utilised their contributions to the national revolution. Bao expressed his hope that officials and staff of Vietnamese representative offices in the Czech Republic will continue to study and follow the ideology, moral example and lifestyle of Uncle Ho , including the Ho Chi Minh diplomacy art. Dr. Nguyen Duy Nhien, Chairman of the Vietnamese Association in the Czech … [Read more...] about President Ho Chi Minh’s sentiments towards OVs spotlighted at Czech conference

Participants at the workshop (Photo: VNA) HCM City (VNA) – A workshop discussing issues related to mutual legal assistance (MLA) in criminal matters was held by the Supreme People's Procuracy and the Japan International Cooperation Agency (JICA) in HCM City on December 2. Participants heard that a number of new requirements for the judicial sector in recent years include electronic data collection , recovery of property acquired from illegitimate sources, and sending witnesses abroad to provide mutual legal assistance. mutual legal assistance of the Supreme People's Procuracy, said Vietnam has sent more than 1,200 requests for MLA in criminal matters , and received nearly 280 requests of this kind from abroad over the last two years. VNA … [Read more...] about Vietnam learns from Japan’s experience in mutual legal assistance

Natural and man-made catastrophes have caused $268 billion of economic losses so far in 2022, chiefly driven by Hurricane Ian and other extreme weather disasters, reinsurance giant Swiss Re estimated Thursday. Insured losses covered $122 billion -- less than half -- of the total economic losses to date this year, said the Zurich-based group, which acts as an insurer for insurers. "Hurricane Ian and other extreme weather events such as the winter storms in Europe, flooding in Australia and South Africa as well as hailstorms in France and in the United States resulted in an estimated $115 billion of natural catastrophe insured losses this year to date," Swiss Re said in a statement. There were $7 billion of insured losses from man-made disasters. It is the second consecutive year in which total insured losses from natural catastrophes topped $100 billion, with the figure hitting $121 billion last year. "Urban development, wealth accumulation in disaster-prone areas, inflation … [Read more...] about Disasters cost $268 billion in 2022: Swiss Re

Green color covers the market on December 2. On the Ho Chi Minh Stock Exchange, the VN-Index gained 4.22 percent, to close Friday at 1,080.01 points. It had lost 1.16 percent, to close Thursday at 1,036.28 points. Liquidity declined compared to the previous session with more than 1 billion shares worth VND17.9 trillion (US$734.6 million) traded in the southern market. The market breadth was positive with gainers outnumbering losers by 361-92. Another 59 closed flat. In the near future, the market will need more time to absorb the supply and find a new equilibrium. It is expected that VN-Index will be actively supported when it returns to the range of 1,000 -1,020 points and recovers. Investors need to slow down and observe the cash flow's support signal, said Viet Dragon Securities Co. Blue chips led the market uptrend. All 30 out of the top 30 shares by market value and liquidity on the HoSE gained value. The VN-30 Index, tracking the 30 biggest stocks on HoSE, rose … [Read more...] about Shares soar on the rise of pillar stocks

Masterise Homes officially announced the grand opening of The Global City Sales Gallery at the end of last month, marking the presence of Vietnam’s largest sales gallery and lifestyle hub with a scale of 10,000 m2.. Visualizing the future of The Global City, the Sales Gallery is a convergence of unparalleled design and cutting-edge technology produced by global award-winning architectural design studio Foster + Partners. Located in An Phu Ward, Thu Duc City, Ho Chi Minh City, The Global City Sales Gallery overlooks and is adjacent to a canal and Southeast Asia’s largest Fountain Festival. The exterior architecture bears the image of majestic wings with the aspiration to reach new heights and the commitment to sustainable development. The sales gallery is also Vietnam's first building with the largest surrounding water-covered surface landscape. The sales gallery is also Vietnam's first building with the largest surrounding water-covered surface landscape. … [Read more...] about Masterise Homes launches The Global City Sales gallery — Vietnam’s largest lifestyle hub