Profit and loss write off on credit report

A train of Viet Nam Railways. — Photo courtesy of VNR The railway sector is striving to escape losses and divest capital in many companies in 2023, the Committee for Management of State Capital at Enterprises said about the Project on Restructuring Viet Nam Railways (VNR) from 2021 to 2025. The project has identified and evaluated the achievements and limitations on the basis of a comprehensive assessment. The restructuring of VNR in 2016-2020 includes the production and business performance, the level of safety, security and defence, development and investment, science and technology and digital transformation. It also sets out goals and plans for the restructuring of the corporation in 2021-2025, aiming at innovation, improved corporate governance, effective exploitation of resources, and enhanced labour productivity. Additionally, VNR tries to achieve and exceed the targets assigned by competent authorities, fulfil the obligation to pay the State budget, ensure enough … [Read more...] about Railway sector sets plans to avoid losses this year

Silicon Valley Bank. According to VinaCapital, the SVB collapse by itself will end up being neutral for Viet Nam’s stock market and economy. — Photo courtesy of Reuters The Silicon Valley Bank (SVB) collapse by itself will end up being neutral for Viet Nam’s stock market and economy, Michael Kokalari, chief economist at investment fund VinaCapital, has said in a report. “Furthermore, we see no substantial risk that the dynamics which negatively impacted SVB and certain other regional US banks could significantly impact the profitability and/or solvency of banks in Viet Nam.” It was widely reported that latent losses on SVB’s securities portfolio coupled with a drop in deposits at the bank were the main factors that led to its rapid insolvency, it said. Vietnamese banks also held Government bonds on their balance sheets, and the prices of 10-year Vietnam Government bonds (VGBs) had dropped by around 15 per cent since mid-2021 and yields surged. However, VGB holdings only … [Read more...] about Silicon Valley Bank collapse not to impact VN: VinaCapital

Thai officials searching for a radioactive cylinder missing from a power station said Monday that they had found traces of the dangerous material in a nearby steel foundry. The 25-kilo (55-pound) steel tube containing highly radioactive caesium-137 was reported missing from the coal-fired power plant in Prachinburi province, east of Bangkok, earlier this month. Officials said traces of caesium had been found at a foundry around 10 kilometres (six miles) away, though they were not sure whether the cylinder was intact. "We are not sure if the cylinder has already melted, but we found caesium at this steel melting plant," said Prachinburi governor Ronnarong Nakornjinda. He said that if it had been melted, the radioactive material would have been contained within a "closed" area, and that there was no sign of contamination nearby. A search was launched after staff at the power station reported the loss of the steel tube, roughly 30 centimetres (12 inches) long and 13 centimetres … [Read more...] about Traces of missing Thai radioactive matter located in foundry

Climate change is an urgent problem for humanity in the 21 st century, and its importance was reinforced by the presence of 197 heads of state at the Climate Change Conference in Glasgow in 2021 (COP26). Vietnam has made strong commitments and issued its National Strategy on Climate Change for the period to 2050. Time for business action According to the World Bank, Vietnam is one of the most vulnerable countries to climate change. In 2020 alone, Vietnam has suffered a loss of $10 billion, equivalent to 3.2 per cent of GDP. Without a green transformation strategy, it is estimated that the nation could be losing 12-14 per cent of GDP every year by 2050. Green transformation describes the process of applying advanced processes and technologies to reshape business operations, ensuring economic growth, environmental sustainability, and social development. From an enterprise perspective, a common management solution is through a set of environmental, social and governance … [Read more...] about Net-Zero: Challenges and opportunities for Vietnamese businesses

Xi will be the first national leader to shake Putin's hand since the International Criminal Court (ICC) issued an arrest warrant for him on Friday over the deportation of Ukrainian children to Russia since its invasion. Russia is presenting Xi's trip, his first since securing an unprecedented third term this month, as evidence that it has a powerful friend prepared to stand with it against a hostile West that it accuses of trying to isolate and defeat Moscow. "We can feel the geopolitical landscape in the outside world undergoing drastic changes," Putin said in an article in China's People's Daily published on the Kremlin website, adding that he had high hopes for the visit from his "good old friend." For Xi, the visit is a diplomatic tightrope. China has released a 12-point proposal to solve the Ukraine crisis, but at the same time strengthened ties with Moscow. China has repeatedly dismissed Western accusations that it is planning to arm Russia but says it wants a closer … [Read more...] about China’s Xi arrives in Russia to meet Putin over Ukraine war