VietNamNet Bridge - Thai conglomerates, including TCC Holding and Central Group, are running a race to buy Big C supermarkets in Vietnam and Thailand from French Casino Guichard-Perrachon SA, according to the Ministry of Industry and Trade’s Commercial Division in Thailand. TCC Holding and Central Group belong to Thai billionaires Charoen Sirivadhanabhakdi and the Chirathivat family, respectively. The two have shown strong determination to acquire the Big C chain. The source said on Bizlive that both the Thai conglomerates have been seeking consultancy from banks in anticipation of the necessity for financial support. Some days ago, TCC Holding reached an agreement on buying 59 percent of Casino’s stakes in Big C Thailand in a deal worth $3.5 billion. As for Big C Vietnam, analysts say it may be worth up to $800 million. Japan’s Aeon Group has also expressed its intention to buy Big C Vietnam. Thai conglomerates, including TCC Holding and Central Group, … [Read more...] about Thai giants vie for Big C in Vietnam and Thailand
Think big quotes
Tom Hanks has a knack for playing the roles that define American generations. In "Saving Private Ryan," he embodied the courage of the men who landed on the Normandy beaches under heavy fire. In "Apollo 13," he conveyed calm and ingenuity under intense pressure: "Houston, we have a problem." And Forrest Gump revealed much about America before, during and after the Vietnam War. If Hanks turns his attention to our most recent decade, which character should he choose? My suggestion is Assistant Attorney General Lanny Breuer, the head of the criminal division at the Justice Department and the man responsible for determining whether anyone should be prosecuted for the financial crisis of 2008. In an on-camera interview, which aired recently, Breuer stated plainly that some financial institutions are too large and too complex to be held accountable before the law. Bipartisan pressure is now being applied on the Justice Department to reveal exactly how this determination was made. … [Read more...] about Who decided US megabanks are too big to jail?
The information that VietinBank, one of the biggest commercial banks in Vietnam which has been equitized, is planning to issue international bonds and has surprised financial analysts, because it is not the ideal time to do that now. On March 19, VietinBank began a series of roadshows in foreign countries to prepare for the bond issuance in the international market. The events have caught the special attention from both the Vietnamese and international communities. The Financial Times has commented that the success of VietinBank in the issuance could show how the international community thinks about the Vietnamese national economy. The bank plans to issue 500 million dollars worth of international bonds with the consultancy of two big banks Barclays and HSBC. The roadshows to introduce about the issuance would take place in Singapore, Hong Kong, London, Boston, New York, Los Angeles and San Francisco. The article “Vietnam: Anyone for state-owned debt?” published on the … [Read more...] about VietinBank issues international bonds amid big challenges
The enterprises operating in the tourism sector have proposed government agencies to allow them to quote the prices of products and services in popular foreign currencies such as Euro or US dollars, instead of Vietnam dong, in order to make it easier to understand for foreign travelers. Under the current regulations, Vietnam dong is the only currency which can be used in the transactions in the Vietnamese territory, while the prices of services and products also must be quoted in Vietnam dong. The State Bank of Vietnam has recently decided to impose a find of 500 million dong on Thong Nhat Metropole Hotel for its behavior of posting prices in foreign currencies. The government has issued the Decree No 95 stipulating the fines on the violations of the regulations in the monetary and banking sector, which took effect on October 20, 2011. The decree says that the fine on the price posting in foreign currencies would be 300-500 million dong, which is much higher than the … [Read more...] about Travel firms, hotels want to quote prices in foreign currencies