Raising interest rates

Hanoi (VNA) - The State Bank of Vietnam has approved the Asia Commercial Bank (ACB)’s plan to raise its charter capital from 16.6 trillion VND (721 million USD) to 21.6 trillion VND (938.3 million USD). The plan will be implemented via dividend payment in shares to shareholders. ACB plans to issue 498.8 million shares to pay the dividend, equivalent to a total value of 4.98 trillion VND. The payment ratio is 30 percent, meaning every shareholder will receive three new shares for every 10 they hold. The expected issuance time is the fourth quarter of this year. Previously, ACB planned to pay a 2019 dividend in shares and cash. However, due to the COVID-19 pandemic, the State Bank of Vietnam required banks to use resources to reduce interest rates, support businesses and not pay dividends in cash. ACB also plans to pay the 2020 dividend at a rate of not less than 20 percent. In the first six months of this year, ACB recorded a consolidated pre-tax profit of 3.8 trillion … [Read more...] about Central bank approves ACB’s plan to raise charter capital

Support essential medical equipment for 40 commune health stations in 8 suburban districts selected around Hanoi (medical protective clothing, face masks, hand sanitizer…) and provide dry and instance foods for all infected areas. Print and distribute Covid 19 prevention guidelines document and communication poster so people can collect from commute information centers to help them raise awareness about public health care as well as develop voice program to broadcast in the daily voice system of community … [Read more...] about Citi Asia Pacific recognized for Excellence in Leadership during COVID-19

On January 22, Prime Minister Nguyen Xuan Phuc issued Directive 04/CT-TTg on the implementation of solutions to drought, water scarcity and saltwater intrusion. Deputy Prime Minister Trinh Dinh Dung recently also chaired a conference in Ben Tre province to seek ways to cope with drought and seawater invasion so as to ensure agricultural production and people’s lives in the region during the 2019 – 2020 dry season. The Ministry of Agriculture and Rural Development has coordinated with localities to speed up anti-saline encroachment projects. Some of them have been put into temporary operation, including the Au Ninh Quoi sluice, the Xuan Hoa pumping station, the Nam Mang Thit irrigation system, 18 salinity control sluices in the first phase of the Bac Ben Tre project, and the May Phop – Nga Hau canal dredging project. Those facilities have directly controlled saltwater intrusion for about 83,000ha of land and helped mitigate its impact on another 300,000ha. In the … [Read more...] about Saltwater intrusion in Mekong Delta projected to increase

The main group, made up of 25 Vietnamese nationals, were caught at 20:30 on August 4 at national border in Na Han village of Tan Thanh commune, in addition to another location at national border in Kho Da village of Tan My commune in Van Lang district. At the time of their arrest the party was in the process of attempting to illegally enter the country.  … [Read more...] about Latest Coronavirus News in Vietnam & Southeast Asia August 6