Vietinbank

The shared POS system will help local authorities cut down cash in circulation and transaction costs, combat tax losses and speed up payment transactions in a safe and efficient manner, helping the government’s efforts to transform Vietnam into a cashless society, he added. … [Read more...] about South Korean firm to invest $700 mln towards cashless payment in Vietnam

A recent report from market researcher StoxPlus stated that without support from the government, it would be difficult for state-owned banks to meet the capital compliance deadline of Basel II. StoxPlus noted that these banks have been trying to issue bonds to ramp up their Tier 2 capital, but this method has suffered a number of setbacks because it cannot be higher than Tier 1, which represents shareholder equity. … [Read more...] about Calls for FOL to be relaxed

Selling force appeared right at the beginning of the trading session and maintained until the end of the session. Pillar stocks that were hit strongly included Vinhomes (VHM) (-2.6 per cent), Bank for Investment and Development (BID) (-3.7 per cent), PetroVietnam Gas JSC (GAS) (-3.7 per cent), Vinamilk (VNM) (-2.8 per cent), Vietcombank (VCB) (-1.4 per cent), Vingroup (VIC) (-1 per cent), Vietinbank (CTG) (-1.1 per cent), Vietjet (VJC) (-1.6 per cent), Sabeco (SAB) (-0.6 per cent) and Vincom Retail (VRE) (- 0.7 per cent). … [Read more...] about Shares slide amid weak investor sentiment

“Leveraging IFC’s global experience in responding to several economic crises in the past, the decision to increase trade limits is an effort to ensure continued trade flows during this challenging phase. The expanded trade finance line will help mitigate trade finance risks, thus softening the impact of COVID-19 on the Vietnamese economy and the private sector,” said Mehmet Mumcuoglu, IFC Financial Institutions Group Manager for East Asia and the Pacific. … [Read more...] about BUSINESS NEWS HEADLINES FEB. 27