Videos of Week
Exchange Links with us
Latest Comments
Who's Online
We have 157 guests onlineAdvertisement
Right Menu
Link Exchange
Home 
Finance
Finance
Finance
Interest rate hikes are Asia 'vote of confidence'
Recent moves by Asian central banks to raise interest rates are a strong vote of confidence that the region will weather risks stemming from the European debt crisis, analysts say.
Since June 24, the central banks of Taiwan, India, Malaysia and South Korea have lifted interest rates by between 12.5 and 25 basis points, citing the need to tame inflation as their economies rebound from the global d...
Asia-Pacific to promote low-carbon economic growth
Government officials and policymakers from Asia and the Pacific have concluded a United Nations-organized meeting by adopting a course of action for environmentally sustainable economic growth, ahead of a key ministerial conference to be held in September in Kazakhstan. At the two-day regional preparatory meeting in Muju, Republic of Korea, participants underlined that a number of countries in t...
Vietnam says recent dong weakening is 'unreasonable'
The Vietnamese dong’s slide in the last two weeks was "unreasonable" and driven by sentiment rather than supply or demand, the central bank said. The so-called black-market exchange rate for the currency reached 19,140 per dollar on July 2 from 18,890 on June 23, the State Bank of Vietnam said, without giving a current level. The dong traded at 19,180 in the black market, according to an informa...
Vietnam short on dollars, and confidence
The Ha Tam jewellery shop here sells foreign currency the way a filling station sells gasoline. So it was only seconds after pulling in on his motorbike that Quan Phan had swapped a fistful of dong for a neat stack of $100 bills - United States $100 bills, to be precise. "Vietnamese people always want to have dollars," Phan, an engineer, explained before rejoining a rush-hour swarm of motorbike ...
Banks rush to open savings funds
Commercial banks over the past two months have been in a race to open savings funds to attract more depositors now that the central bank has introduced a policy restricting banks from opening new branches and offices. Such savings funds, which are not allowed to give loans, are seen as the fastest way for banks to widen their networks. Such affiliates still are allowed to mobilise funds, issue a...
IMF warns of 'downside risks' in Asia
Asia is expected to grow by higher-than-expected rates but "downside risks" have intensified in the region following financial turmoil in the eurozone area, the IMF warned Thursday. The Chinese economy should expand by 10.5 percent following strong rebound in exports and resilient domestic demand, the fund said, revising its April forecast of 10.0 percent. India's growth this year was revised ...
Asia-Pacific corporate bond risk declines to lowest in more than two weeks
The cost of protecting Asia-Pacific bonds from default fell to the lowest in more than two weeks, according to traders of credit-default swaps. The Markit iTraxx Asia index of swaps on 50 investment- grade borrowers outside Japan dropped 4 basis points to 127 basis points as of 8:09 a.m. in Hong Kong, according to Credit Agricole CIB. That's the lowest since June 22, according to CMA DataVision ...
Bank of East Asia to issue US dollar subordinated notes - source
Bank of East Asia Ltd (0023.HK) plans to issue 10-year US dollar-denominated subordinated notes to supplement its capital, a person familiar with the deal said Friday. The fixed-rate notes will mature in 2020, and the bond-issue expected to be of "benchmark" size, the person said. The blue-chip lender hopes to price the bonds later Friday, the person added. The planned bonds are rated BBB-pl...
IMF praises Asia's steps to cool real estate
Concerns of overheated real estate markets in Asia are diminishing, though regional authorities need to be on guard against destabilising developments, the International Monetary Fund said Wednesday. The Washington-based group said market-cooling measures implemented by emerging market economies in the region appeared to be effective in capping growth in prices. "Prudential measures appear to ...
DaiABank lowers deposit rates to 11.2pct per year
Great Asia (Dai A) Commercial Joint Stock Bank (DaiABank) has adjusted the interest rates in dong.
In details, the deposit rates has been lowered by 0.35-0.5 percent per year for terms of 1-13 months, for deposit terms of 12-13 months the rates were lowered from 11.7 percent per year to 11.2 percent per year.
As for deposit terms of over 18 months, the interest rates for savings with post-paid i...
Banks slash deposit rates on SBV's strict warnings
State Bank of Vietnam's (SBV) strict warning to commercial banks has started to yield results. A series of commercial banks, especially joint stock ones have cut deposit interest rates to the expected level of 11-11.2 percent per year.
On July 8, some commercial banks in HCM City set a deposit interest rate reduction for the dong under the direction of Vietnam's central bank.
Vietnam's Export-Imp...
TienPhongBank bags award
Tien Phong Commercial Joint Stock Bank (TienPhongBank) has been officially granted the Excellent International Payment Bank Award 2009 by the US-based Wells Fargo Bank yesterday July 8, 2010.
The annual award is granted to the banks transferring money in line with SWIFT standards. The award is based on the Straight Through Processing (STP) rate assigned for accuracy in electronic transfers.
The ...
Eximbank and Smartlink cooperates to offer online payment services
In order to provide better more services to the domestic card owners, from July 8 onwards, Vietnam Export Import Commercial Joint Stock Bank (Eximbank) has set up cooperation relationship with Smartlink Card Services Joint Stock Co to apply online payment services for shopping purposes by using the Eximbank's domestic cards.
In details, the customers who own the lender's domestic cards can make o...
Vietinbank introduces new ATM system
Vietnam Bank for Industry and Trade (Vietinbank) announced to launch and put into use the new technologies for card management system with larger designed capacity, quicker transactions of cash withdrawal and higher security level as well as many additional utilities, starting from July 15, 2010.
The new utilities of the lender's ATM system include: the monitor that will show the maximum amount t...
Habubank to issue long-term valuable papers in 2010
The State Bank of Vietnam (SBV) has allowed Hanoi Building Commercial Joint Stock Bank (Habubank) to issue long-term valuable papers in 2010 with total value of two trillion dong. These valuable papers will have terms of two to three years.
The issuance time is expected to be in July and August 2010 under the forms of bonds or long-term certificates of savings.
This event is considered a part of...
More Articles...
Page 1 of 266
HCM Index
HNX Index
Currency
