The Hanoitimes - The National German Sustainability Award is organized by the Federal Ministry for Economic Cooperation and Development of the European country Hoi An city in Vietnam's Quang Nam province and the German city of Wernigerode won the prize at the 2019 National German Sustainability Award. Hoi An won the prize at the 2019 National German Sustainability Award. Photo: Hanoimoi.com.vn The two cities overcame 30 others worldwide to win the awards which are presented to cities, companies and individuals to promote the idea of a sustainable society. This is the first time the prize is presented for sister cities project between German localities and foreign partners. Accordingly, Hoi An and Wernigerode received a sum of US$34,093 to fund local environment projects. In 2013, the cities of Hoi An and Wernigerode signed an agreement in Berlin, Germany, constituting a sisterhood relationship. On that occasion, a lantern festival was held in Wernigerode, showcasing … [Read more...] about Hoi An wins prize at the 2019 National German Sustainability Award
The northumberland national bank
Qatar National Bank joins Vietnam market
VietNamNet Bridge - Qatar National Bank recently opened its representative office in Ho Chi Minh City, with the desire to promote development of trade between Qatar and Vietnam. The representative office of the Qatar National Bank (QNB) will take on the role of expanding intermediary services in the areas of investment and trade with Middle East companies intending to do business in Vietnam. It will also keep in touch with Vietnamese companies that are planning expansion in the Middle East market. QNB was established in 1964 as the first national commercial bank in Qatar, with 50 percent of capital contributed by the Qatar National Investment Fund and the second half from the private sector. With a market share of approximately 45% in the financial and banking sector, QNB is considered the largest bank in Qatar and also the leading financial institution in the Middle East and North Africa, with presence in 26 countries. Last year the bank’s net profit reached $2.9 … [Read more...] about Qatar National Bank joins Vietnam market
Swiss National Bank chairman resigns
The Swiss National Bank announced that the Chairman, Philipp Hildebrand, "is resigning from his office as Chairman of the Governing Board of the Swiss National Bank" with immediate effect among allegations his wife made currency deals. Theresignationtook"immediateeffect", theSNBsaid. Hildebrand's resignation came as a surprise given that last Thursday the chairman ofSNB said hewould not resign and that he had committed no legal error. Speaking to the press in Bern after the decision was made, Hildebrand disclosed relevant personal emails sent during the period in which his wife made the widely disputed private financial transaction. "I have come to the conclusion that it is not possible to provide conclusive and final evidence that my wife did indeed initiate the foreign exchange transaction on the 15th August without my knowledge," the Swiss central banker admitted.But he still insisted that he had no knowledge of his wife's transaction on that day. The Swiss central banker said he … [Read more...] about Swiss National Bank chairman resigns
Vietnam’s “chaebols”: Tran family and the Asia Commercial Bank
VietNamNet Bridge – The family of Tran Mong Hung has driven the Asia Commercial JS Bank (ACB) through difficulties and the family is now ACB’s largest shareholder. Related news Vietnam’s "chaebols": The female general of Nam Cuong Group Vietnamese "chaebols": Tu Huong ‘Empire' and Nam A Bank Vietnam’s "chaebols": The rich and mysterious family of Vingroup Vietnam’s chaebols: The power of femininity at Quoc Cuong Gia Lai Vietnam’s "chaebols": King of 'Acquisition' Tram Be Great power ACB officially came into operation in June 1993. It used to be one of the biggest commercial banks in Vietnam before 2012, with Tran Mong Hung as the co-founder and the Chair in the early period. In 2012, after a series of high-ranking officials of ACB were arrested, Hung's family came back to power in this bank. In September 2012, Hung’s son - Tran Hung Huy – became ACB’s Chair. Since then the bank has tried to stand up again after … [Read more...] about Vietnam’s “chaebols”: Tran family and the Asia Commercial Bank
To ease the reliance on banks, businesses issue corporate bonds
VietNamNet Bridge – Since it's very difficult to access bank loans at this moment, a lot of businesses issue corporate bonds at high interest rates, or issue convertible shares to restructure their debts or develop their projects. Though it's is a difficult task to issue corporate bonds in Vietnam due to the lack of the transparency of businesses – issuers. However, enterprises still rush to issue bonds to call for more capital, because they have no other choice. … [Read more...] about To ease the reliance on banks, businesses issue corporate bonds