Vietcombank headquarters (Photo: Vietcombank) Hanoi (VNA) – The New York State Department of Financial Services has granted operating license to the Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to open a representative office in New York. Accordingly, the office will be based at One Rockefeller Plaza in Manhattan centre. It is due to be open in the third quarter this year Earlier in October 2018, the bank obtained the US Federal Reserve’s approval to open the office. Last year, the lender took the lead nationwide with a net profit of over 18.2 trillion VND (791 million USD), up 61.1 percent from 2017. Targets in total asset and equity grew strongly while credit quality was under control. As of May, Vietcombank still topped others in profit term with upwards 9 trillion VND. Chairman of Vietcombank’s Board of Directors Nghiem Xuan Thanh said the bank strives to earn 21 trillion VND in profit this year and is likely to hit 1 billion USD by … [Read more...] about Bank officially licensed to open office in New York
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Vietcombank’s application to establish a New York office approved
Viet Nam News HÀ NỘI — The US Federal Reserve Board announced on its website early this week that it had approved the application by Joint Stock Commercial Bank for Foreign Trade of Việt Nam (Vietcombank) to establish an office in New York City. According to the Federal Reserve Board’s order, the representative office would act as a liaison with Vietcombank’s clients and prospective clients in the US. The office would also engage in other representational activities such as providing analysis of the banking sector and financial services market, acting as a liaison with banks in the US and participating in business conferences. Vietcombank wrote on its website that this strategic step made it the first joint stock commercial bank of Việt Nam approved to open a representative office in the US – the country with the most transparent legal framework and rigorous supervision in the world. Vietcombank’s target is to become one of the … [Read more...] about Vietcombank’s application to establish a New York office approved
Singapore Airlines launches world’s longest flight to New York
Hanoi (VNA) – Singapore Airlines launched the world's longest commercial flight to New York on October 11 night with its Airbus A350-900 ULR taking off from the Changi International Airport. A spokeswoman for Singapore Airlines said that Flight SQ22 departed at approximately 11:35pm with 150 passengers and 17 crew aboard. It is scheduled to land at the Newark airport after a 16,700-km journey in at least 18 hours and 25 minutes. The long-range Airbus A350-900ULR is configured to carry up to 161 passengers - 67 in business class and 94 in premium economy, with no regular economy seats available. For the flight crew - which also includes two first officers and a 13-strong cabin contingent - the workload will be broken up, the airline said, with each pilot having a minimum eight hours' rest during the flight. Singapore Airlines once again set a record in terms of the longest flight in the world. The airline originally flew the route for nine years using the gas-guzzling, … [Read more...] about Singapore Airlines launches world’s longest flight to New York
New York Times says Trump helped parents shield millions from taxes
The Times investigation, which the White House said was "misleading," showed Trump received the equivalent today of at least $413 million from his father's real estate business. The Times, citing a "vast trove" of confidential tax returns and financial records, reported that much of that fortune came to Trump because he helped his parents evade taxes, setting up a fake corporation with his siblings to disguise millions of dollars in gifts from their parents. Trump promoted himself during his presidential campaign as a self-made real estate mogul who started out with only a "very small" loan from his businessman father, Fred Trump. Reuters has not been able to verify the report. White House spokeswoman Sarah Sanders called the story "misleading" and said in a statement "many decades ago the IRS reviewed and signed off on these transactions." Trump's lawyer Charles Harder told the Times: "President Trump had virtually no involvement whatsoever with these matters." "The affairs were … [Read more...] about New York Times says Trump helped parents shield millions from taxes
New York Times, New Yorker win Pulitzer for #MeToo watershed
The New York Times and The New Yorker won the Pulitzer Prize for public service on Monday for explosive reporting that brought down Harvey Weinstein and spawned a cultural watershed on the issue of sexual harassment. The prestigious prize was awarded to the Times team led by Jodi Kantor and Megan Twohey and New Yorker contributor Ronan Farrow, for reports that disgraced the Hollywood mogul and sparked an avalanche of accusations against other powerful men. Since the Times and New Yorker articles last October, more than 100 women have publicly accused the producer of misconduct ranging from sexual harassment to rape, sparking the #MeToo movement that has seen a string of influential men lose their jobs and reputation. Weinstein's marriage has ended, he has been under police investigation in London, Los Angeles and New York, hit by a litany of civil lawsuits and his former production company has been forced to file for bankruptcy. Farrow, 30, is the son of actress Mia Farrow and film … [Read more...] about New York Times, New Yorker win Pulitzer for #MeToo watershed