NEW YORK/LONDON -- Global mergers and acquisitions (M&A) activity shrank to its lowest level in more than a decade in the first quarter of 2023, as rising interest rates, high inflation and fears of a recession soured the appetite of companies for dealmaking. M&A volumes during the first quarter slumped 48% to $575.1 billion as of March 30, compared to $1.1 trillion during the same period last year, according to data from Dealogic. A banking crisis that started in the United States this month with Silicon Valley Bank and spread to Europe with the Swiss government-orchestrated sale of Credit Suisse Group AG (CSGN.S) to UBS Group AG (UBSG.S) roiled markets and stopped many deals in their tracks, investment bankers and lawyers said. "The first quarter had extraordinary levels of volatility and uncertainty - more than expected going into the year. And that has the impact of postponing some announcements," said Anu Aiyengar, global head of M&A at JPMorgan Chase & … [Read more...] about Global dealmaking sinks to lowest level in over a decade
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Vietnam emphasises global multilateral approaches to solving climate change issues
A meeting session of UN General Assembly. (Photo: VNA) New York (VNA) – A global problem, climate change requires a global approach based on multilateral cooperation and institutions, particularly the respect for international law and the UN Charter, Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN), has said. Vietnam’s engagement in UN resolution that urges the International Court of Justice (ICJ) to outline nations' legal obligations related to curbing climate change disasters and their impacts on vulnerable communities proves the country’s point of view, the ambassador said in a recent interview to the Vietnam News Agency right after the resolution was adopted on March 29. The resolution, co-sponsored by 132 countries, calls on the ICJ to lay out nations' obligations for protecting Earth's climate, and the legal consequences they face if they don't. The court's opinion would be non-binding. Giang described the adoption of … [Read more...] about Vietnam emphasises global multilateral approaches to solving climate change issues
Viet Nam remains favoured destination for global investors
Speakers at the Vietnam Innovation Forum titled “Sailing the digital sea” in HCM City on Thursday. — Photo Courtesy of NIC Investors hold an optimistic view of the country’s start-up eco-system, according to the 2023 Viet Nam Innovation and Tech Investment Report. Released by the Viet Nam National Innovation Centre (NIC) and Do Ventures at the Vietnam Innovation Forum titled “Sailing the digital sea” in HCM City on Thursday, it was the third annual report. It said: “Despite the turbulent global investment climate, Viet Nam remains a favoured destination for investors due to its sturdy economic growth and skilled young workforce.” The most common advice given to start-ups was to focus on the fundamental aspects of business, utilise capital wisely with a strategic approach and adjust to changes in the economic climate. The country's venture capital developments began to reflect global economic distress. So, despite a strong economic rebound, there was a 56 per cent decline … [Read more...] about Viet Nam remains favoured destination for global investors