The water supply market is beset with many groups of interests, according to Luu Binh Nhuong, a National Assembly Deputy. WHA Utilities and Power PLC (WHAUP) has announced the completion of a transaction in which it acquired 34 percent of shares of the Song Duong Surface Water Company. The deal is worth 2.762 billion baht, or VND2.080 trillion. Song Duong Water Plant 2011 was the time when Vietnam witnessed a movement of investment in the water supply sector. A lot of foreign investment funds also jumped into the market. Also in the province, the holding company of WHAUP has another investment project – WHA Industrial Zone 1, capitalized at VND22 trillion ($1 billion), covering an area of 3,200 hectares. Mai Lan Hanoi's water plant releases raw sewage after water crisis The Da River water plant was found to have flushed thousands of cubic metres of raw wastewater used to cleanse their tanks to the environment, days after it was involved in a polluted water … [Read more...] about Should foreign companies be allowed to join Vietnam’s water supply market?
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A Bao Minh Insurance office. Insurers, banks and securities firms were the major cause of the market decline on Friday morning. — Photo baodautu.vn Vietnamese shares slid on Friday morning, dragged by financial-banking companies. The benchmark VN-Index on the Ho Chi Minh Stock Exchange fell 0.48 per cent to close at 983.14 points. The southern market index had lost more than 2 per cent in the previous two days. More than 103 million shares were traded on the southern bourse, worth VND2.13 trillion (US$91.6 million). Financial-banking stocks weighed on the market in the morning session. Those companies included banks, securities firms and insurers. The three sector indices were down between 0.4 per cent and 1 per cent, data on vietstock.vn showed. Among decliners were Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID), SSI Securities (SSI) and Bao Minh Insurance (BMI). Other under-performing sectors included agriculture, mining and energy, construction and … [Read more...] about VN stocks fall further, financial-insurance firms extend losses
Growth in the stock market will be underpinned by steadily improving macroeconomic indicators this year and the next, allowing the VN-Index to hit 1,085 points by the end of 2020, VietinBank Securities said in its market prospects report released Thursday. Public debt this year is expected to fall slightly from 58.4 percent of GDP last year to 58.3 percent this year, and another 0.5 percentage points in 2020. Inflation is likely to remain at 3.5 percent in 2019, the same level as the prior two years, and could fall to 3.2 percent in 2020, the report said. However, average earnings per share (P/E) for stocks on the Ho Chi Minh Stock Exchange (HoSE), which the VN-Index represents, is expected to grow much more slowly by year-end compared to last year. The current P/E on HoSE is 16.7 percent. This figure by 2019-end is projected to grow around 10.5 percent compared to the beginning of the year, down from 26.5 percent in 2018, according to VietinBank Securities. According to VietinBank … [Read more...] about VN-Index predicted to rise 14.6 pct this year
Financial Markets Central bank to tighten control over property loans The Saigon Times Daily Friday, Nov 22, 2019,14:29 (GMT+7) Central bank to tighten control over property loansThe Saigon Times Daily File photo of residential blocks. The central bank in Vietnam has issued a road map to tighten control over property loans – PHOTO: VNA HCMC - The State Bank of Vietnam (SBV) has issued a three-year road map, starting from 2020, to restrict commercial banks from using short-term capital to offer mid- and long-term loans to homebuyers, to ensure greater control over real estate credit. SBV has released Circular 22/2019 regulating safety proportions in banking activities at local commercial banks and foreign bank branches, including a road map for the 2020-2022 period. Between January 1, 2020, and September 30, 2020, commercial banks can use short-term funds to finance mid- and long-term loans at a maximum ratio of … [Read more...] about Central bank to tighten control over property loans
Mai Thuy Linh, 32, has received several spam messages and at least two spam calls each day over the past week, which makes her very annoyed. How digitalization transforms Vietnam? Local cybercrime threats on the rise Chip cards may minimise bank card crime in Vietnam MIC urges on customer information protection Illustrative image — Photo cafef.vn The spam messages and calls are about different things, from real estate and insurance packages to gymnastics memberships and hotels. “The thing I worry about the most is how they get my number,” Linh said. Linh is not alone. Many have experienced their private information being leaked, with more of our lives migrating online. Statistics from the Ministry of Information and Communications show that the ministry received 21,888 complaints from mobile subscribers about spam messages and calls in the first six months of this year. The number is about 48.7 per cent lower than the same period last year. Reasons and risks … [Read more...] about Personal data leaks carry high risks