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
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Vietnam and Laos’ national banks to boost cooperation
PANO - The State Bank of Vietnam and the Bank of the Lao People's Democratic Republic (Lao PDR) held a bilateral meeting to promote cooperation on October 28th in Phu Quoc island district of Kien Giang province. It is the fifth event which is annually co-held by the two countries' national banks. At the event, the two sides exchanged information related to the development of macro economy, the management of monetary policies and the two sides' banking systems. They also evaluated their cooperation over the past year and set up new cooperation programs in the time to come. Both sides agreed that the two countries' macroscopic economies achieved positive results despite the unstable global economy. The economy of Laos is expected to achieve a GDP growth rate of 6.4 percent in 2015 while keeping the inflation rate at 4 or 5 percent. Addressing the meeting, Governor of the Bank of the Lao PDR Somphao Phaysith praised Vietnam's achievements in socio-economic development and stressed the … [Read more...] about Vietnam and Laos’ national banks to boost cooperation
Korean Language Lab and Textbooks Presented to the Hanoi National University
(CPV) - South Korea's Kookmin Bank and the Korea Foundation will present a laboratory to the College of Foreign Languages under the Hanoi National University as well as a set of textbooks in the Korean language to the College of Social Sciences and Humanities under the Hanoi National University on October 9th. The Korean language laboratory, equipped with modern equipment such as radios and videos, will help students to study Korean language more effectively. The sets of Korean language textbooks were compiled by leading experts in education and are based on the specific features of Vietnam at present. Each set consists of a textbook, an exercise book and three CD disks. They will help to overcome problems in Korean language learning which happened over the past year. After this primary set of textbooks are completed, the intermediate and advanced sets of the textbooks will then be published. At this time, Korean language learning in Vietnam will then be built on a basic, solid … [Read more...] about Korean Language Lab and Textbooks Presented to the Hanoi National University
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
The Asian Development Bank lends 24.8 million USD for further support to poverty reduction in Vietnam
(MPI Portal) - The Asian Development Bank (ADB) and the Government of Vietnam signed a loan agreement worth 24.8 million USD to support necessary policy reforms to promote uniform growth of the country and ensure the further reduction results for Vietnam on 17th January in Hanoi. Governor of Vietnam State Bank Nguyen Van Binh, representing for the Government of Vietnam and ADB National Director in Vietnam Tomoyuki Kimura signed this Agreement. The loan under the ADB program provides co-funding capital with Poverty Reduction Support Credits funded by some development partners. Poverty Reduction Support Credits assist the Government of Vietnam to implement a series of policy reforms in enterprise development, social concord, resource management and governance to ensure the successful implementation of 10-year socio-economic Development Strategy from 2011 to 2020 and socio-economic Development Plan from 2011 to 2015. Speaking at the signing ceremony, Mr. Tomoyuki Kimura said, the … [Read more...] about The Asian Development Bank lends 24.8 million USD for further support to poverty reduction in Vietnam