Which bank provides the highest interest rates

The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs after the recent collapse of two U.S. banks. Fed Chair Jerome Powell sought to reassure investors about the soundness of the banking system, saying that the management of Silicon Valley Bank "failed badly," but that the bank's collapse did not indicate wider weaknesses in the banking system. "These are not weaknesses that are running broadly through the banking system," he said, adding that the takeover of Credit Suisse seemed to have been a positive outcome. The Federal Open Market Committee policy statement also said the U.S. banking system is "sound and resilient." Even so, Wall Street ended sharply lower after Powell told a news conference that officials were still intent on fighting inflation while also eying the extent to which recent bank failures had cooled demand and slowed lending. The … [Read more...] about U.S. Fed delivers small rate hike amid global banking turmoil

Le Huu Minh (L), deputy managing director of Volkswagen Vietnam, and Trinh Bang Vu, head of the retail lending division at Shinhan Bank Vietnam, at the signing ceremony for the preferential lending programme for buyers of Volkswagen cars on March 23. — Photo courtesy of the bank Shinhan Bank Vietnam Limited has partnered with Trend Motor Vietnam Co., Ltd to launch a preferential loan programme exclusively for people buying Volkswagen cars that provides financing of up to 80 per cent of the value of a new vehicle. Customers who borrow to buy the German carmaker’s Touareg, Teramont, Tiguan, T-Cross, and Polo models get the loan interest-free for the first six months and at a fixed rate of 10.9 per cent a year for the remaining 54 months. They can opt for terms in line with their financial ability, with maximum financing of 80 per cent of the price and loan tenure of up to eight years. The programme will be in effect at all dealers across the country until June 30, 2023. … [Read more...] about Shinhan Bank Vietnam offers special programme for Volkswagen buyers

High pedestal to reach for 2023’s growth ambitions Vietnam’s economic growth is projected to ease to 6.3 per cent in 2023 from a robust 8.02 per cent last year, as services growth moderates and higher prices and interest rates weigh on households and investors, according to the World Bank’s latest Taking Stock report released last week. Growth is expected to pick up to 6.5 per cent in 2024 as the economies of Vietnam’s main export markets gain strength, the report said. The outlook for Vietnam reflects heightened uncertainty in the global economy. Downside risks include weaker-than-expected growth in Vietnam’s major export markets, which include the United States, China, and the Eurozone, tightening financial conditions, higher domestic inflation, weaknesses in the balance sheets of corporate, banking and household sectors, and financial sector vulnerabilities. The Vietnamese government has set a target that GDP will increase 5.6 per cent in Q1, 6.7 per cent in Q2, 6.5 per … [Read more...] about High pedestal to reach for 2023’s growth ambitions

Solar panels at Tetra Pak's packaging material factory in Bình Dương Province. — Photo courtesy of the company Tetra Pak has completed the installation of solar panels for its packaging material factory in Binh Duong Province after six months of construction. Covering close to 5,900 sqm2, the solar panels can generate approximately 1.9 thousand MWh of renewable energy each year, helping to reduce over 700 tonnes of CO2 emissions. This effort represents Tetra Pak's pledge to reduce greenhouse gas emissions across its business operations. “Tetra Pak is committed to reducing greenhouse gas emissions across the company’s operations to net zero by 2030. The installation of solar panels on the factory roof is part of our journey to realizing this goal,” said Eliseo Barcas, Managing Director of Tetra Pak Vietnam. “This further affirms Tetra Pak’s commitment in sustainable development and in supporting food and beverage manufacturers in increasing their sustainability by using our … [Read more...] about Tetra Pak Binh Duong’s new solar panels cut down 700 tonnes of CO2 emissions yearly

Over the past 35 years of development, the Vietnam Bank for Agriculture and Rural Development, better known as Agribank, always proves its position and role as a leading commercial bank in Vietnam. It has pioneered monetary policies, contributing to stabilizing the macro-economy, curbing inflation and supporting the country’s economic growth. The bank has cemented its key role in developing the agriculture sector and rural areas and offering credit and services to serve the country’s socio-economic development. Agribank was proud to receive the Vietnam National Brand award for the third consecutive year in 2022 and was among the top 10 Vietnamese strong banking and financial brands the same year. The lender has obtained impressive achievements in digital and green transformation and made substantial contributions to community development. Despite the negative impact of the COVID-19 pandemic, Agribank, with its initiative and flexibility, has employed multiple … [Read more...] about Vietnam’s Agribank wins many local prestigious prizes

Vietnam is said to have been avoiding the usual recessionary trends across the Asian markets and is showing better-than-average growth. (Photo: VNA) New Delhi (VNA) – An Indian expert has highly valued Vietnam’s post-pandemic recovery in an article recently published on Moderndiplomacy.eu. In the writing, titled “Vietnam’s macroeconomic policy and post COVID recovery”, Prof. Pankaj Jha, Director of the Centre for Security studies at India’s Jindal School of International Affairs, cited the latest IMF reports as saying that Vietnam's real gross domestic product ( GDP ) in 2023 is estimated at 6.2%, and this clearly indicates Vietnam has been avoiding the usual recessionary trends across the Asian markets and is showing better-than-average growth. He noted with an inflation rate of less than 4%, it clearly shows that Vietnam is likely to emerge as a promising economy in Asia. If one looks into the core fundamentals of Vietnam following the COVID-19 pandemic, it … [Read more...] about Vietnam showing better-than-average growth: Indian expert

The energy transition in Vietnam is tied to the rapid growth of the economy, urbanisation, and industrialisation. We have seen the strong aspiration of the government to speed up the energy transition while meeting the requirements of economic development and the goal of becoming a high-income country by 2045. Energy transition is more seen as a potential engine for employment, and this trend will likely grow, helping to build support for renewables. John Rockhold, head of the Power and Energy Working Group under the Vietnam Business Forum Fossil energy sources are gradually being replaced by green and clean energy sources, reducing greenhouse gas emissions and combating climate change, while Vietnam is one of the first countries to renew its nationally determined contribution to the United Nations Framework Convention on Climate Change in 2020. The roadmap for the country’s transition process towards green and sustainable development will not only need to ensure … [Read more...] about Displaying readiness for the energy transition in Vietnam

Gold ring price went up 0.09% VND55.95 million. A tael equals 37.5 grams or 1.2 ounces. Globally gold prices slipped on Friday as the dollar edged higher, while investors assessed the U.S. central bank’s hints at a potential pause in its rate-hike trajectory, Reuters reported. Spot gold was down 0.4% at $1,986.40 per ounce after two sessions of sharp gains. U.S. gold futures also fell 0.4% to $1,988.90. Non-yielding bullion, which becomes more attractive in a low-interest-rate environment, gained 2% after the Federal Reserve signalled it might pause further rate increases after the recent collapse of two U.S. banks, and pointed to just one more rate hike this year. "However, the Fed also mentioned it would not look to cut interest rates this year," said Brian Lan, managing director at Singapore-based dealer GoldSilver Central. Lan noted some profit-taking at play, and added, "gold prices would look to consolidate, unless there’s any big news." … [Read more...] about Gold posts marginal gain

Some branches are taking care of the registration fee for car buyers, but sales are still not being boosted, photo Le Toan In a document sent to the prime minister last week, the Vietnam Automobile Manufacturers Association (VAMA) along with other associations asked the government to extend the payment of special consumption tax and reduce the registration fee of domestically manufactured and assembled cars by a half this year, in order to stimulate demand. A VAMA representative said that the domestic car sales market is in a gloomy situation, and has been struggling like many other industries since 2020. “In order to stimulate market demand, we need strong enough policies like extending the payment of excise tax in 2023 and taking 50 per cent off the registration fee. These should be applied as soon as possible,” emphasised the representative. To combat the effects of the pandemic, the government chopped the registration fee in half for domestically manufactured and assembled … [Read more...] about Auto makers project bumpy years ahead

A group of solar power ventures that did not make the 2021 feed-in tariff deadline remain idle and developers want fresh solutions Nearly 40 renewable power investors last week asked the prime minister to consider addressing pricing-related inadequacies in renewables development. The joint letter said that the impact of the pandemic and expiry of the country’s previous feed-in tariffs (FiTs) has resulted in 84 renewable power projects, with total capacity of some 4,600MW, falling behind schedule and failing to achieve commercial operation. Among these, 28 wind farms and six solar farms with the combined capacity of more than 2,000MW, which have cost an estimated $3.6 billion are eligible to connect to the national power grid, are still waiting for a suitable pricing mechanism. Six solar power ventures have been waiting for such a mechanism for over two years. The developers last week expressed concerns that they may go bankrupt as the government’s latest pricing band fix are … [Read more...] about Pricing structure not enough to clinch nation’s energy goals