Samson: Vietnam's Central bank injects US$792 million to support market
January, 04/2018 - 17:00
The central bank made a net cash injection of VNĐ18 trillion (US$792 million) into the economy in the past week
HÀ NỘI — State Bank of Việt Nam (SBV) made a net cash injection of VNĐ18 trillion (US$792 million) into the economy in the past week.
According to Bảo Việt Securities Co (BVSC), SBV pumped VNĐ2.26 trillion through the open-market operations channel while issuing bills worth VNĐ15.91 trillion to support liquidity of the banking system.
The past week also saw the inter-bank rates increase by 0.2 percentage points to 0.35 percentage points for all terms, pushing the overnight rate to 1.01 per cent, the one-week rate to 1.23 per cent and the two-week rate to 1.49 per cent, according to reports from Saigon Securities Incorporate (SSI).
Samson: Vietnam : HBC wins contract for oil refinery project in Kuwait
December, 26/2017 - 17:54
HCM CITY – Hòa Bình Construction Corporation (HBC) won a contract to produce reinforced concrete for a refinery project in Kuwait, the corporation said on Monday.
Hòa Bình Construction Corporation (HBC) signed a cooperation agreement with United Gulf Construction Company (UGCC) -- the second-largest construction company in Kuwait – to implement a reinforced concrete package as part of the Kuwait Government’s Al Zour Refinery Project, with a bid worth US$20 million.
The Al Zour Refinery is the largest refinery project in Kuwait with total investment of $30 billion.
Don961: Vietnam Forex Reserves Soar to $48b
Sunday, December 24, 2017
Vietnam’s foreign currency reserves hit approximately $48 billion thanks to the country’s stable macroeconomic conditions and strong influx of exports, foreign direct investments and remittances, according to State Bank of Vietnam Governor Le Minh Hung, VNA reported.
It meant that the SBV has brought in another $3 billion worth of hard currencies over the past month. Previously, Hung told National Assembly deputies on November 16 during a plenary session that the bank had increased its buffer fund by $7 billion in 11 months to bring the sum to a record high of $45 billion.
The rise was reported in the context of the foreign exchange rate in the domestic market being relatively stable.
A few years ago, the exchange rate usually fluctuated widely towards the year-end due to seasonal factors. In particular, the USD/VND rate has undergone little change, although the US Federal Reserve raised its benchmark interest rates by 0.25 percentage points for the third time, effective December 14. https://goo.gl/8JjTwR
Samson: IFC is a sister organisation of the World Bank and a member of the World Bank Group.
IFC launches RPT governance course for Vietnam banks
December, 13/2017 - 14:00
Experts discuss the importance of related party transactions governance in commercial banks
HÀ NỘI — The International Finance Corporation (IFC) and the Netherlands Development Finance Company (FMO) on December 13 launched an online course on Related Party Transactions Governance for Vietnamese commercial banks.
Related party transactions (RPTs) are viewed as situations, which are open to a possible conflict of interest and can harm individual institutions and stakeholders, that should be subject to rigorous review.
Samson: Vietnam : First bank completes adoption of Basel 2
December, 07/2017 - 16:00
OCB is the first bank in Việt Nam completing the adoption of Basel 2
HÀ NỘI — Orient Commercial Joint Stock Bank (OCB) on Wednesday announced the completion of its Basel 2 project, two years after implementation.
It becomes the first bank in Việt Nam to complete the adoption of Basel 2 – the second of Basel Accords – with three pillars, namely minimum capital requirements, supervisory review and market discipline.
Nguyễn Đình Tùng, OCB’s general director, said the Basel 2 project completion would create an important foundation for maintaining a high growth rate, while still ensuring quality and trust among investors and partners of OCB.
USD/VND Exchange Rate Reaches Record High
The State Bank of Viet Nam (SBV) today again raised the exchange rate by 13 Vietnamese dong, taking it to a record high of VND22,131 per US dollar.
With the allowable trade, the dollar at +/-3 per cent on either side of the reference rate, commercial banks revised their offering prices upwards.
Vietcombank today also increased the rate by 100 dong as against yesterday, listing the rate at VND22,690 and VND22,790 for selling and buying, respectively. BIDV and VietinBank also listed the same rate.
Vietnam World's Fifth Happiest Country, For Now
Brett Davis , CONTRIBUTOR
Vietnam has been ranked the fifth happiest country in the world in a study by the UK think tank the New Economics Foundation.
The Happy Planet Index report measured elements that contribute towards a happy life in 140 countries and looked at factors such as life expectancy, wellbeing, inequality and ecological footprint.
The list was topped by Costa Rica, followed by Mexico, Columbia and Vanuatu, making Vietnam the happiest country in Asia. Calculate your own Happy Planet Index
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