Pakistan atomic bomb range

Vietnamese lender VPBank on March 27 signed an agreement to sell its 15% stake to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) through a private placement. At the signing ceremony between VPBank and SMBC (Photo: VNA) With this deal, SMBC, a subsidiary of Sumitomo Mitsui Financial Group, Inc (SMFG), has officially become a foreign strategic investor of the Vietnamese bank. The investment from SMBC will help VPBank raise 35.9 trillion VND (approximately 1.5 billion USD) of Tier 1 capital (equal to 30,160 VND per share), increasing its equity to approximately 140 trillion VND from 103.5 trillion VND. Following the investment, VPBank will become Vietnam’s second largest bank in terms of equity, which allows it to serve a wide range of customer needs in various segments, including retail banking, corporate banking and SMEs. The robust capital stance will also back VPBank in serving large-scale enterprises, particularly the FDI and multi-national companies … [Read more...] about VPBank sells 15% stake to Japan’s SMBC for 1.5 bln USD

Illustrative image (Photo: vov.vn) Hanoi (VNA) - The export value of Vietnamese tea to China in the first two months of this year quadrupled from the same period last year, according to the General Department of Vietnam Customs . China imported 426 tonnes of tea from Vietnam in the two months, representing rises of 121% in volume and 411.2% in value. The average tea export price in February alone surged by over 10% to more than 1,641 USD per tonne. China’s reopening of its border after the COVID-19 pandemic is the main factor behind the strong growth of tea exports to this huge market, reported the Ministry of Industry and Trade. Tea exports to Pakistan also enjoyed an upward trend, reaching 5,300 tonnes worth 9.4 million USD, up 5.8% in volume year on year. Although Taiwan (China) is Vietnam’s second largest tea consumer, tea exports to this market declined slightly over the two-month period. Statistics show Vietnam shipped 1,500 tonnes worth 2.4 million USD to … [Read more...] about Tea export value to China skyrockets

Logo of Vietcombank on its trading office in Tran Hung Dao Street, Ha Noi. The bank shares soared 2.25 per cent on Monday, led the market's bullish sentiment. — VNS Photo Ly Ly Cao Benchmark indices opened the week on a positive note, buoyed by the improvement of risk appetite. The VN-Index on the southern bourse Ho Chi Minh Stock Exchange (HoSE) ended Monday at 1,052.25 points, a gain of 5.46 points, or 0.52 per cent. It logged a long rising streak of five days with the market's breadth inclining to the uptrend. Meanwhile, liquidity increased slightly, of which over VND9.7 trillion (US$413.2 million) worth, equivalent to nearly 557 million shares, was traded on HoSE. The VN30-Index also advanced 5.03 points, or 0.48 per cent, to close the trading day at 1,056.45 points. Twenty of the 30 biggest stocks in market capitalisation of the VN30 basket jumped, of which one hit the ceiling price. Eight stocks declined while two stayed flat. On the Ha Noi Stock Exchange (HNX), the … [Read more...] about VN-Index extends its long winning streak

The investment from SMBC will help the bank raise almost VND36 trillion, or approximately $1.52 billion, of Tier 1 capital, increasing its owner equity from $4.5 billion to approximately $6.1 billion This comes as part of capital raising plans that VPBank has been implementing over the last year to strengthen its long-term finances and support its ambitious growth strategy over the next five years. Ngo Chi Dung, chairman of the Board of Directors of VPBank (right) and Masahiro Yoshimura, CEO, Chief Investment Officer, SMBC Bank Following this latest investment from SMBC, VPBank now becomes Vietnam’s second-largest bank in terms of owner equity, which allows it to serve a wide range of customer needs in various segments, including retail banking, corporate banking and small- and medium-sized enterprises. The robust capital stance will also help VPBank to serve large-scale enterprises, particularly multinational companies and foreign firms that are already … [Read more...] about VPBank announces SMBC as foreign strategic investor

Cambodian Prime Minister Samdech Techo Hun Sen (R) and his Malaysian counterpart Anwar bin Ibrahim (Photo: VNA) Phnom Penh (VNA) – Cambodia n Prime Minister Samdech Techo Hun Sen and his Malaysian counterpart Anwar bin Ibrahim held talks in Phnom Penh on March 27, during which they agreed to foster the bilateral cooperation across spheres, from trade and investment to education, tourism, energy and people-to-people exchange. Speaking at a joint press conference, Hun Sen said they discussed cooperation in various areas and encouraged both sides to continue exchanging high-level visits more often and at all levels to build closer friendship, to further increase mutual trust and to expand the broader scope of bilateral cooperation. The Cambodian PM said he proposed increasing the purchase of goods to meet each other’s demand, and encouraged Malaysian investors and companies to operate in Cambodia. According to the Cambodian leader, the trade volume between the two … [Read more...] about Cambodia, Malaysia foster cooperation in various fields