http://www.intellasia.net/news/english/ Asia's best news source Fri, 12 Mar 2010 11:38:28 +0800 en-us http://www.intellasia.net/news/articles/finance/111289150.shtml Finance Both enterprises and banks need not only a fully negotiation based lending rate mechanism (meaning that negotiated interest rates should be applied on all short, medium and long term) but also a fairly low interest rate band of 12-13 percent pa to develop production and ensure the economic growth of 6.5 percent this year. Both demands are controlled by State Bank of Vietnam (SBV). Fri, 12 Mar 2010 11:36:42 +0800 http://www.intellasia.net/news/articles/finance/111289150.shtml http://www.intellasia.net/news/articles/finance/111289149.shtml Finance Following the success of 2009, life insurance companies in Jan-February continued reporting good business results. Fri, 12 Mar 2010 11:35:19 +0800 http://www.intellasia.net/news/articles/finance/111289149.shtml http://www.intellasia.net/news/articles/finance/111289148.shtml Finance Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) has recently officially launched online financial services via the VCB-iB@nking online banking channel. Fri, 12 Mar 2010 11:33:43 +0800 http://www.intellasia.net/news/articles/finance/111289148.shtml http://www.intellasia.net/news/articles/finance/111289147.shtml Finance Smartlink Card Service Joint Stock Co and BanknetVN recently adopted four new member banks including Southern Commercial Joint Stock Bank (Southern Bank), Tien Phong Commercial Joint Stock Bank (TienPhongBank), Viet A Commercial Joint Stock Bank (VietABank) and Global Petro Commercial Joint Stock Bank (GP.Bank). Fri, 12 Mar 2010 11:32:45 +0800 http://www.intellasia.net/news/articles/finance/111289147.shtml http://www.intellasia.net/news/articles/finance/111289146.shtml Finance Korea Life Vietnam Insurance Co has announced that after investing and officially starting operation in Vietnam market, the next destination of Korea Life Insurance will be China. Fri, 12 Mar 2010 11:31:38 +0800 http://www.intellasia.net/news/articles/finance/111289146.shtml http://www.intellasia.net/news/articles/finance/111289145.shtml Finance State Bank of Vietnam (SBV) issued Decision No 449/QD-NHNN on March 10 giving approval to Global Petroleum Commercial Joint Stock Bank (GP Bank) to establish the loans management one-member Co Ltd. Fri, 12 Mar 2010 11:30:25 +0800 http://www.intellasia.net/news/articles/finance/111289145.shtml http://www.intellasia.net/news/articles/finance/111289126.shtml Finance The world's leading finance rating organisation A.M. Best yesterday announced that PetroVietnam Insurance Joint Stock Corp (HNX listed PVI) was assigned a finance rating B+ with a firm financial safety and capacity. Fri, 12 Mar 2010 11:04:48 +0800 http://www.intellasia.net/news/articles/finance/111289126.shtml http://www.intellasia.net/news/articles/finance/111289041.shtml Finance A road and bridge builder based in Ho Chi Minh City could become the first Vietnamese company to issue overseas bonds as it plans to raise $700 million to fund several projects, a state-run newspaper said on Thursday. The Ho Chi Minh City government has sought Finance Ministry guidance on procedures for BOT Phu My Bridge Joint Stock Co to issue bonds overseas, Tuoi Tre newspaper reported. Fri, 12 Mar 2010 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111289041.shtml http://www.intellasia.net/news/articles/finance/111289037.shtml Finance The US dollar buying price at banks continued rising and reached 19,090 dong/US dollar, lower 10 dong/US dollar than the selling price. Thu, 11 Mar 2010 13:56:28 +0800 http://www.intellasia.net/news/articles/finance/111289037.shtml http://www.intellasia.net/news/articles/finance/111289034.shtml Finance At Eximbank, up to 14 gold deposit terms from three to 60 months carry an interest rate of 0.5 percent pa. Particularly the terms of 1-2 months, the gold deposit rate will be lower, 0.2 and 0.35 percent/year correspondingly. Thu, 11 Mar 2010 13:52:20 +0800 http://www.intellasia.net/news/articles/finance/111289034.shtml http://www.intellasia.net/news/articles/finance/111289033.shtml Finance At the official inaugurating ceremony of Lien Viet Commercial Joint Stock Bank (LienVietBank)'s An Giang Branch (Lien Viet An Giang) on March 6, Nguyen Duc Huong, deputy chair of LienVietBank's director board said that after starting operation, Lien Viet An Giang will play an important role in carrying out the "investment and development of agricultural and rural credit in Mekong Delta" project during 2010-2013. Thu, 11 Mar 2010 13:51:13 +0800 http://www.intellasia.net/news/articles/finance/111289033.shtml http://www.intellasia.net/news/articles/finance/111289032.shtml Finance Hanoi Building Commercial Joint Stock Bank (Habubank)'s shareholders' meeting recently approved a plan to list shares on Hochiminh Stock Exchange (STC) in Q3 or Q4, 2010 and issue 1.05 trillion dong of convertible bonds. Thu, 11 Mar 2010 13:39:53 +0800 http://www.intellasia.net/news/articles/finance/111289032.shtml http://www.intellasia.net/news/articles/finance/111289031.shtml Finance Vietnamese bank Orient Commercial Joint Stock Bank or OCB, and Diebold Group, one of the world's biggest ATM providers, yesterday officially signed a memorandum of understanding on cooperation. Thu, 11 Mar 2010 13:34:37 +0800 http://www.intellasia.net/news/articles/finance/111289031.shtml http://www.intellasia.net/news/articles/finance/111289022.shtml Finance During the first two months of this year, Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank (STB) reached 300 billion dong in pre-tax profit excluding combined profit from member companies, a year-on-year rise of 35 percent. Thu, 11 Mar 2010 11:25:04 +0800 http://www.intellasia.net/news/articles/finance/111289022.shtml http://www.intellasia.net/news/articles/finance/111289000.shtml Finance PetroVietnam Insurance Joint Stock Corp (coded PVI)'director board on February 26 approved 2009 business results and business target in 2010. Thu, 11 Mar 2010 09:49:17 +0800 http://www.intellasia.net/news/articles/finance/111289000.shtml http://www.intellasia.net/news/articles/finance/111288925.shtml Finance The Ministry of Finance is determined to comprehensively restructure the financial market this year to address its shortcomings and ensure sustainable development, officials said. Thu, 11 Mar 2010 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111288925.shtml http://www.intellasia.net/news/articles/finance/111288926.shtml Finance The State Bank of Vietnam has ordered branches nationwide to inspect lending and deposit activities at commercial banks to make sure they abide by interest rate regulations. Thu, 11 Mar 2010 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111288926.shtml http://www.intellasia.net/news/articles/finance/111288917.shtml Finance Hanoi Stock Exchange (HNX) on March 8 announced to pay the interest of CPD0911006 government bonds in foreign currency in 2010 issued by the State Treasury-Finance Ministry. Wed, 10 Mar 2010 12:38:28 +0800 http://www.intellasia.net/news/articles/finance/111288917.shtml http://www.intellasia.net/news/articles/finance/111288916.shtml Finance In order to support a part of investment capital for two cold-rolled steel sheet lines (total capacity of 400,000 tonnes/year) in the general project of Ton Hoa Sen Phu My mill, Hoa Sen Group has recently signed a credit contract worth nearly 450 billion dong with bank syndicate including Vietnam Commercial Joint Stock Bank for Foreign Trade (Vietcombank-VCB) and Vietnam Export Import Commercial Joint Stock Bank (Eximbank). Wed, 10 Mar 2010 12:37:33 +0800 http://www.intellasia.net/news/articles/finance/111288916.shtml http://www.intellasia.net/news/articles/finance/111288910.shtml Finance The dong/US dollar forex rate at commercial banks surged to 19,070 dong per US dollar on the first day of this week, making the US dollar price in the free market jump to 19,450 dong per US dollar. Wed, 10 Mar 2010 11:48:56 +0800 http://www.intellasia.net/news/articles/finance/111288910.shtml http://www.intellasia.net/news/articles/finance/111288909.shtml Finance HCM City Housing Development Commercial Joint Stock Bank (HDBank) and Vietnam Commercial Joint Stock Bank of Industry and Trade (VietinBank) recently signed a comprehensive cooperation agreement whereby VietinBank and HDBank will jointly carry out cooperation activities, cosponsoring project finance, transaction network connection and ATM system. Wed, 10 Mar 2010 11:47:59 +0800 http://www.intellasia.net/news/articles/finance/111288909.shtml http://www.intellasia.net/news/articles/finance/111288908.shtml Finance State Bank of Vietnam (SBV) has signed a document approving Vietnam Bank for Investment and Development (Bidv) to open the representative office in Burma’s Yangon. Wed, 10 Mar 2010 11:46:55 +0800 http://www.intellasia.net/news/articles/finance/111288908.shtml http://www.intellasia.net/news/articles/finance/111288907.shtml Finance Hanoi Building Commercial JS Bank or Habubank has organised successfully the 19th annual shareholder meeting and passed the plan of issuing total 1.050 trillion dong worth of convertible bonds. Wed, 10 Mar 2010 11:45:50 +0800 http://www.intellasia.net/news/articles/finance/111288907.shtml http://www.intellasia.net/news/articles/finance/111288806.shtml Finance Beleaguered US airlines are increasingly looking to Asia to bolster their fortunes. Wed, 10 Mar 2010 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111288806.shtml http://www.intellasia.net/news/articles/finance/111288807.shtml Finance Short-term money market rates in Vietnam pushed higher on Monday as banks sought fresh funds to meet demand from the rice and coffee sectors in particular, bankers said. Wed, 10 Mar 2010 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111288807.shtml http://www.intellasia.net/news/articles/finance/111288808.shtml Finance The HCM City Stock Exchange-listed Eximbank Vietnam (EIB) officially joined the card alliance GlobePass yesterday, thanks to support from its strategic shareholder, the Sumitomo Mitsui Banking Corp. Wed, 10 Mar 2010 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111288808.shtml http://www.intellasia.net/news/articles/finance/111288809.shtml Finance Bank of East Asia's new payments system allows for greater integration and customisation for its corporate treasury clients. Wed, 10 Mar 2010 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111288809.shtml http://www.intellasia.net/news/articles/finance/111288799.shtml Finance State Bank of Vietnam (SBV) has approved commercial banks to apply negotiable interest rates on medium and long term loans; however the lending rate could not be lowered as commercial banks still have to raise deposits at high rates. Tue, 09 Mar 2010 13:57:04 +0800 http://www.intellasia.net/news/articles/finance/111288799.shtml http://www.intellasia.net/news/articles/finance/111288797.shtml Finance As the lending rate of dong is going up, many banks encouraged customers to borrow US dollar loans at lower rates. Some enterprises also opted for US dollar loans instead of dong loans. Tue, 09 Mar 2010 13:40:16 +0800 http://www.intellasia.net/news/articles/finance/111288797.shtml http://www.intellasia.net/news/articles/finance/111288795.shtml Finance Vietnam International Commercial Joint Stock Bank (VIB) has recently announced to apply the highest interest rate of 10.499 percent per year for Certificate of Deposits (C/Ds) at VIB with any deposits throughout the bank's network nationwide. Tue, 09 Mar 2010 13:37:56 +0800 http://www.intellasia.net/news/articles/finance/111288795.shtml http://www.intellasia.net/news/articles/finance/111288794.shtml Finance Asian Commercial Bank (ACB) announced that its domestic debit cards of 365 Styles have lately been accepted for transaction in ATM network of Smartlink card alliance nationwide. Previously, the bank's 365 Styles Card had been accepted in ATM network of Banknetvn. Tue, 09 Mar 2010 13:36:58 +0800 http://www.intellasia.net/news/articles/finance/111288794.shtml http://www.intellasia.net/news/articles/finance/111288793.shtml Finance Bank for Foreign Trade of Vietnam (Vietcombank) has announced changes in service charges for customers using Vietcombank Connect24 Visa and Vietcombank MTV Mastercard. Tue, 09 Mar 2010 13:36:00 +0800 http://www.intellasia.net/news/articles/finance/111288793.shtml http://www.intellasia.net/news/articles/finance/111288792.shtml Finance Global Petroleum Commercial Joint Stock Bank (GP Bank) has introduced the new products of multifunctional cards for customers called "the Truc". Tue, 09 Mar 2010 13:34:42 +0800 http://www.intellasia.net/news/articles/finance/111288792.shtml http://www.intellasia.net/news/articles/finance/111288778.shtml Finance Increasing chartered capital in accordance with the roadmap to meet the State Bank of Vietnam (SBV)'s regulation is causing heavy pressure on commercial joint stock bank system. Tue, 09 Mar 2010 09:55:02 +0800 http://www.intellasia.net/news/articles/finance/111288778.shtml http://www.intellasia.net/news/articles/finance/111288777.shtml Finance The world's opening gold price on the second trading week of March stood at $1,135.30 per ounce, nearly unchanged compared with the closing price of previous week. Also, the domestic price also stood still. Tue, 09 Mar 2010 09:50:33 +0800 http://www.intellasia.net/news/articles/finance/111288777.shtml http://www.intellasia.net/news/articles/finance/111288706.shtml Finance Asia's insurance industry is set to boom thanks to rising incomes, a growing middle class and ageing populations, explaining the allure behind Prudential's costly bid for AIA, analysts said. Tue, 09 Mar 2010 07:12:00 +0800 http://www.intellasia.net/news/articles/finance/111288706.shtml http://www.intellasia.net/news/articles/finance/111288705.shtml Finance Singapore's largest bank, the DBS, has got a licence from the Governor of State Bank of Vietnam to open its branch in HCM City, Vietnamese news agency, VNA, reported yesterday. Tue, 09 Mar 2010 07:03:00 +0800 http://www.intellasia.net/news/articles/finance/111288705.shtml http://www.intellasia.net/news/articles/finance/111288707.shtml Finance HSBC Vietnam has cooperated with AsiaMilesTM to launch the HSBC Mileage Programme that enables all HSBC credit card holders to redeem Rewards points for Asia Miles, one of Asia's leading travel reward programmes. Tue, 09 Mar 2010 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111288707.shtml http://www.intellasia.net/news/articles/finance/111288699.shtml Finance Gia Dinh Commercial Joint Stock Bank or GiaDinh Bank (GDB) last Friday reported that last year it gained total profit of 302 billion dong, a year-on-year growth of 32 percent. Mon, 08 Mar 2010 11:39:41 +0800 http://www.intellasia.net/news/articles/finance/111288699.shtml http://www.intellasia.net/news/articles/finance/111288698.shtml Finance Smartlink Card Service Joint Stock Co on March 5 announced finishing the linking and putting into operation ATM system with three new bank members namely Asia Commercial Joint Stock Bank (ACB), Bao Viet Commercial Joint Stock Bank (BaoVietBank) and Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank-STB). Mon, 08 Mar 2010 11:38:40 +0800 http://www.intellasia.net/news/articles/finance/111288698.shtml http://www.intellasia.net/news/articles/finance/111288697.shtml Finance Saigon Commercial Joint Stock Bank (SCB) on March 6 released business plan in 2010 with 59.9 trillion dong of total assets, up 10 percent against 2009's figure, 53.7 trillion dong of total deposits, up 9.8 percent year-on-year, 31.302 trillion dong of total outstanding loans, 7.7 trillion dong of liquidity reserve, over 3.6 trillion dong of average chartered capital, 8 percent dividend and bad debt at below 2 percent. Mon, 08 Mar 2010 11:37:11 +0800 http://www.intellasia.net/news/articles/finance/111288697.shtml http://www.intellasia.net/news/articles/finance/111288696.shtml Finance From March 8 to April 8, Vietnam Commercial Joint Stock Bank for Industry and Trade (Vietinbank) will launch special customer care programme for women when issuing and using Pinkcard debit card on the occasion of women's day March 8. Mon, 08 Mar 2010 11:36:19 +0800 http://www.intellasia.net/news/articles/finance/111288696.shtml http://www.intellasia.net/news/articles/finance/111288695.shtml Finance On March 9, HCM City Housing Development Commercial Joint Stock Bank (HDBank) will sign a comprehensive cooperation agreement with WonderBuy-electronic product and computer supermarket system. Mon, 08 Mar 2010 11:35:08 +0800 http://www.intellasia.net/news/articles/finance/111288695.shtml http://www.intellasia.net/news/articles/finance/111288678.shtml Finance Although being allowed to apply negotiated lending rate for medium and long term loans, according to banks, applying high lending rate in the current context will be hard to attract customers. Mon, 08 Mar 2010 11:15:11 +0800 http://www.intellasia.net/news/articles/finance/111288678.shtml http://www.intellasia.net/news/articles/finance/111288604.shtml Finance Asia will be a growing force in the world economy, YW Junardy, president of the Asia Marketing Federation, said yesterday at a seminar on "The Marketing Landscapes of the Emerging Markets". Mon, 08 Mar 2010 07:12:00 +0800 http://www.intellasia.net/news/articles/finance/111288604.shtml http://www.intellasia.net/news/articles/finance/111288605.shtml Finance Poland is targeting investors in Asia with its first sale of bonds in US dollars since July to help plug its budget deficit, deputy Finance minister Dominik Radziwill said. Mon, 08 Mar 2010 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111288605.shtml http://www.intellasia.net/news/articles/finance/111288603.shtml Finance Along with expanding the network of ATMs in central HCM City, wholly foreign invested banks like ANZ and HSBC are gradually surpassing local lenders in terms of profit growth. Sat, 06 Mar 2010 10:14:28 +0800 http://www.intellasia.net/news/articles/finance/111288603.shtml http://www.intellasia.net/news/articles/finance/111288529.shtml Finance Japan and the Association of Southeast Asian Nations have compiled a report outlining $170 billion in infrastructure and resource development projects aimed at spurring economic growth and integration in East Asia. Sat, 06 Mar 2010 07:12:00 +0800 http://www.intellasia.net/news/articles/finance/111288529.shtml http://www.intellasia.net/news/articles/finance/111288528.shtml Finance Asian central banks may be among the first in the world to raise interest rates as regional economic growth rapidly outpaces that in the West and fuels inflationary pressures, according to Reuters. Sat, 06 Mar 2010 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111288528.shtml http://www.intellasia.net/news/articles/finance/111288530.shtml Finance Three key items will shape the Southeast Asia (SEA) region, including Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam, telecommunications industry in 2010, according to IDC's Southeast Asia Telecommunication 2010 Top 10 Predictions: The Year for the Upswing report. Sat, 06 Mar 2010 07:00:00 +0800 http://www.intellasia.net/news/articles/finance/111288530.shtml