Backdoc » May 7th, 2015, 2:47 am IMO DO YOU WANNA DANCE ??
AS WE ENTER THE MONTH OF MAY I MUST ASK, MAY I HAVE THIS DANCE?
WHY YES OF COURSE!
WHY THANK YOU! YOUR WELCOME!
THIS ISN’T EXACTLY HOW IT MIGHT BE SAID, BUT SOMETHING SIMILAR POSSIBLY!
WE HEAR THE IMF CALL ON THE GULF STATES TO DIVERSIFY THEIR ECONOMIES. WHO HAVE WE BEEN TALKING ABOUT WITH UNTOLD VALUE IN THE GROUND TO DO JUST THAT? MMMM
WE HEAR THE WORLD BANK CALLING FOR IRAQ TO DIVERSIFY AND ACTIVATE THEIR PRIVATE SECTOR! MMMM
NEXT, WE HEAR THE COUNCIL OF MINISTERS SAYING THEY ARE SERIOUS ABOUT ACTIVATING THE PRIVATE SECTOR.
THEN WE HEAR OF A TWO DAY HOLIDAY THAT STRETCHES INTO A 7 DAY HOLIDAY. TO MAKE IT EVEN MORE INTERESTING THEY ARE RESTRICTING VEHICLE TRAFFIC TO PREVENT CAR BOMBS!
REALIZE THAT THE MUSLIM CALENDAR COMPLETELY SYNCS WITH THESE ACTIONS AS THE Z…….. MAN HAS EXPLAINED!
THEN WE SEE AN ANNOUNCEMENT RELEASED BY THE CBI THAT REASSURES ALL BANKS THAT ARE PROPERLY LICENSED WILL BE ABLE TO BROKER THE EXCHANGE OF FOREIGN CURRENCY!!
AHHHH BUT WHAT THEY DIDN’T HAVE TO SAY WAS ALL YOU MONEY EXCHANGERS ON ABOUT EVERY STREET CORNER WILL BE HAULED IN AND CHARGED WITH MONEY LAUNDERING CHARGES THANKS TO THOSE NEW LAWS!! THANKS TO PAPAJ FOR EXPLAINING THAT FOR US.
LIKE I SAID IN THE MATRIX, THIS WOULD HAPPEN! THE MONEY CHANGERS ARE ABOUT TO BE CRUSHED!
JAAFARI MAKES COMMENTS TO SUGGEST A PLAN IS NEEDED LIKE THE MARSHAL PLAN TO HELP REBUILD THE COUNTRY!
MMMM BIG DREAMS UNLESS SOMETHING IS EXPECTED SOON.
THEN TODAY WE SEE AN ARTICLE THAT ADMITS ACTION TAKEN BY THE CENTRAL BANK THAT WILL GRADUALLY RAISE THE VALUE OF THE DINAR ,WHICH TOP SHELF IS ALL ABOUT IT!!
MANY FOLKS MISUNDERSTOOD THIS ACTION SINCE IT WAS ACCOMPLISHED BEHIND THE CURTAIN!
WHEN OZ IS READY TO SHOW US THE RATE HE WILL, SLAP!
KEEP WATCHING TOPSHELFS’ WORK, AS THE CBI CONTINUES TO WORK HER NUMBERS INTO THE SPREAD SHEETS AS THEY PREPARE FOR THE LAUNCH!
AS WE ALL AWAIT THE LAUNCH OF AN INTERNATIONAL RATE FOR IRAQ WE LOOK UP TONIGHT AND SEE THAT THE U.S. PASSES A 3.8 TRILLION DOLLAR BUDGET!
NOW DOUBLE SLAP! SLAP!, WHERE DID THAT MONEY COME FROM!!
WELL, IF YOU PULL BACK OZ’S CURTAIN YOU MIGHT SEE IT PLAIN AS DAY!!
WELL, THANK YOU TOPSHELF, KEEP PEEKING BEHIND THE CURTAIN, I LIKE THAT 3.93 ZIP CODE MY FRIEND!
OHH, AND ONE MORE THING THE FINANCE COMMITTEE DENIES THE GOVT. FROM PUTTING THEIR HAND IN THE COOKIE JAR AND SPENDING THEIR RESERVES!
WITH THE FEDERAL COURT ACT READY TO WRAP UP, MAY I HAVE THIS DANCE? LOL
LOVE THAT SONG, "DANCE WITH ME I WANT TO BE YOUR PARTNER”!
8@8, DOC IMO
Backdoc » May 7th, 2015, 1:15 am GREAT ARTICLE THUNDERHAWK!!!
GUYS, FOR THOSE WHO ARE INTERESTED IN THE DONG THIS IS A GOLDEN NUGGET! (See Article Below)
AS YOU READ THIS YOU BEGIN TO REALIZE THEY ARE TELLING US MORE THAN JUST A BANK MERGING WITH ANOTHER BANK!
THEY ARE TELLING US THAT THIS WILL BE THE LARGEST BANK IN VIETNAM AND WILL LEAD THE WAY IN CONSOLIDATION OF THEIR BANKING SYSTEM!
IT APPEARS THAT THIS STATE BANK ADMITTEDLY BOUGHT FOREIGN CURRENCY TO REDUCE SOME OF ITS DEBT TO HELP CONSOLIDATE IT TO A MORE MANAGEABLE LEVEL!!! MMMMM
VENTURE TO GUESS WHICH CURRENCIES THEY BOUGHT WHICH THEY WILL TAKE EFFECT IN THE NEAR TERM AS A DEAL??? MMMMM
REPAYMENT OF DEBT ??? MAYBE SOMEONE NEEDS PEPPER OR RICE? MMMMM
A DEAL THEY CALL "CLEVER" !!!
WELL, I THINK THERE ARE A FEW MORE PEOPLE WHO ARE CLEVER !!! WHAT SAY YOU??? DOC IMO
Thunderhawk: DOC your insight on this is spot on. You see with the eyes of a chess player. Love Ya bro - Blessings
I SAY NAM BURSTING AT THE SEAMS. KAAABLOWEEEE $$$$$$$$$$$$$$
ThunderHawk » May 7th, 2015, 12:07 am
VIETNAM: Vietcombank buys $1 billion in bonds
HA NOI (VNS) — Bank for Foreign Trade of Viet Nam (Vietcombank) has bought Government bonds worth US$1 billion from the Finance Ministry, Thoi bao Kinh te Sai Gon reported online.
The bonds have terms of five to 10 years and coupon interest rates hovering around 4.8 per cent per year, which is equivalent to the rates of bonds sold by the government in international markets late last year, and significantly higher than the rates of the US dollar currently deposited at Vietnamese banks.
This is the first time the government has issued bonds in foreign currencies separately for a bank and for such a huge value. According to a source of the online newspaper, there are several reasons why the issuance was not in dong.
Firstly, the government needed foreign currencies for its spending, and Vietcombank had the most abundant foreign currency reserve among local banks.
Secondly, taking advantage of a domestically available source of foreign currencies is better than seeking foreign loans, as it will help the country avoid "a shock" in exchange rates that can be possibly caused by the appreciation of the dong.
Thirdly, bonds in dong had remained unsalable for more than two years. During April, Government bonds worth VND8.5 trillion ($404.76 million) were sold through auctions in the primary market, for about half of the previous month's value.
Vietcombank Chairman Nghiem Xuan Thanh told a shareholders' meeting on April 24: "We recently completed an enormous transaction, whose value amounted to more than VND20 trillion (about $1 billion)." Refusing to reveal further details, he affirmed this was a long-term and secure investment with high profitability.
Le Hong Quang from the Vietcombank communications department told Biz Hub over the phone today that he was yet to confirm whether the VND20-trillion deal was the bond transaction that the bank had just finished.
Thoi bao Kinh te Sai Gon assessed that the transaction has been "a clever move" as it has helped consolidate the state budget balance, which was challenged by a contracting revenue, and at the same time also benefited the bank.
Meanwhile, Vietcombank will certainly be stricter in regulating its foreign currency reserve, a sizable portion of which had been mobilised in a short period of time for implementing the deal, they noted.
On April 24, Thanh said the bank was looking for a merger partner as part of the efforts to impulse the national banking reform process and for consolidating its own strength to become the leading bank in Viet Nam in the future.
This year, the bank targeted a pre-tax profit of VND5.90 trillion ($280.95 million), equivalent to last year's figure, and a dividend rate of 10 per cent. It also aimed to report a deposit growth of 12 per cent, lending a growth of 13 per cent and a bad debt ratio of below 2.5 per cent.
Its total asset value is expected to grow 11.5 per cent year-on-year to VND643 trillion ($30.62 billion) in 2015. — VNS