M&A in banking sector perking up for 2017

M&A in banking sector perking up for 2017The year has only begun, but signs are pointed to an exciting time ahead for the banking sector with vigorous mergers and acquisitions (M&As) activities. As approved by the State Bank of Vietnam (SBV), on January 12, Vinaconex-Viettel Finance JSC has been merged into Saigon-Hanoi Commercial Joint Stock Bank (SHB). Not stopping there, Nguyen Van Le, general director of SHB, said the consumer finance company will soon merge with a foreign company. With the government’s initiative to restructure the banking system, more banks are expected to join the M&A wave. Earlier, the Asian Development Bank (ADB) announced a plan to cooperate with a Vietnamese company to buy one of the VND0 banks.

January 18, 2017 11:30 UTC

Derivatives hold incentive and risk

Derivatives hold incentive and riskWith Vietnam set to open its first derivatives market, experts are warning of the preparations needed to minimise potential investor risks. Institutional investors within Vietnam and international investors have already expressed interest in and enquired about the derivatives market, Giang said. Thailand has recorded a 70 per cent growth in its derivatives market after just 10 years of operation. “There should be lots of buyers and sellers and the derivatives market must be kept busy at all times. He noted that, in 1996, China had to close its derivatives market after a five-year trial run due to scandals regarding price manipulation and market bubbles.

January 18, 2017 11:09 UTC

Vietnam posts trade surplus of US$2.32 billion in 2016

Vietnam posts trade surplus of US$2.32 billion in 2016Vietnam enjoyed a trade surplus of US$2.32 billion last year, according to the General Department of Customs (GDC), slightly lower than the initial estimate of US$2.68 billion made by the General Statistics Office. The GDC announced on January 17 that exports reached US$176.5 billion last year, up 8.9% from 2015 while imports rose 5.2% to US$174.19 billion. Over the past year, the GDC collaborated with other agencies to uncover more than 15,400 cases of smuggling and trade fraud, confiscating goods worth VND416 billion (US$18.3 million). In 2017, the GDC has been assigned by the National Assembly to collect VND285 billion (US$12.54 billion) in budget revenues. In order to meet the target, the department will focus on removing difficulties for enterprises, maximising the facilitation of export and import activities, stepping up efforts to crack down on trafficking, and modernising its systems.

January 18, 2017 10:49 UTC

Agriculture need more investments and technology, say experts

Agriculture need more investments and technology, say expertsIt is essential to lower input costs and improve quality to enhance competitiveness of agricultural products and efficiency of investments in this sector, experts have said. Experts said the ceiling for agricultural land holding should be gradually abolished to encourage investment in farming production. The ceiling makes agricultural production scattered and it is difficult to apply science and technology when that happens, which in turn keeps prices high and discourages long-term investments. “To encourage investments in agricultural production, there must be more favourable policies to create impetus for businesses and farmers,” Tuan said. It is critical to apply technologies in farming production as that’s the solution for sustainable development, he said.

January 18, 2017 10:49 UTC

Hanoi, HCM City world's most dynamic cities

Hanoi, HCM City world's most dynamic citiesHCM City and Ha Noi, two major cities of Viet Nam, are listed among the top 10 most dynamic cities, according to the JLL’s fourth annual City Momentum Index (CMI). HCM City ranks second while Ha Noi is in eighth place. HCM City ranks second while Ha Noi is in eighth place. The overriding factors that characterise the world’s most dynamic cities are technology and innovation — and cities that best absorb, adapt and leverage these drivers come out on top. Although the most dynamic cities are spread across the world, more than half of the top 30 in the 2017 ranking are in Asia-Pacific.

January 18, 2017 10:44 UTC

US ambassador celebrates Kitchen Gods’ Day in Hanoi

US ambassador celebrates Kitchen Gods’ Day in HanoiThe US ambassador to Vietnam, Ted Osius, released carp fish at West Lake in Hanoi and visited a flower market on Wednesday. The release of carp fish is a ritual to celebrate the Kitchen Gods’ Day which is on the 23rd day of the last lunar month in Vietnam. On this day, families across Vietnam bid farewell to the Gods of the Kitchen, thanking them for watching over their house for another year. The Kitchen Gods begin their trip to visit the Jade Emperor. “I follow Vietnamese people to bid farewell to the Kitchen Gods who are believed to bring luck and protect the family," he said.

January 18, 2017 10:44 UTC

Motorcycle legend to visit Vietnam for Yamaha event

Y-rider is the biggest festival of Yamaha bikers in Vietnam, an event where people come to discus and exchange their experiences as well as watch motor performances. Four of his titles he gained when he wore Yamaha jersey. Vinales, 21, is best known for winning the 2013 Moto3 World Championship. In 2015, he won the best rookie award in the MotoGP class. He joined the Yamaha team at the end of last year’s season.

January 18, 2017 10:19 UTC

Sandra, Bad Boys Blue coming to Hanoi

Sandra, Bad Boys Blue coming to HanoiLegendary mixed artists Sandra and Bad Boys Blue will headline a live concert featuring their hits from the 70-s-90-s this coming March 11 at 8pm at the Hanoi National Convention Centre. About Bad Boys BlueThe history of Bad Boys Blue started in Cologne (Germany) back in 1984, when the founders of Coconut Records – Tony Hendrik and his wife, Karin van Haaren (vel Karin Hartmann), decided to create a new music project. Following a long history of singles and albums including You's re a Woman, Pretty Young Girl, I Wanna Hear Your Heartbeat, and Come Back and Stay, the group released their latest hit You're A Woman 2015 in early June 2015 as part of their 30th anniversary album titled 30. About SandraSandra Ann Lauer is a German pop singer, who enjoyed a mainstream popularity in the 1980s and early 1990s with a string of European hit singles like Everlasting Love, Hiroshima, In The Heat of The Night, Little Girl, Midnight Man and Heaven Can Wait have won high acclaim. mixed artists sandra, bad boys blue coming to hanoi hinh 1 With sales in excess of 30 million records worldwide, Sandra has firmly established her position as one of the most successful German disco/pop female vocalists of all times.

January 18, 2017 10:05 UTC

Intel invests into building local IoT base

Intel invests into building local IoT baseWhile Intel is cutting jobs globally, Intel Products Vietnam (IPV) has plans to increase investment in 2017. Sherry Boger, general director of Intel Products Vietnam (IPV), said that the company’s achievements over the past 10 years have inspired IPV to continue investment and expansion in the future. Intel Vietnam used to produce chips in a Class 100 clean room, but they will switch to the Class 10,000 clean room to produce smaller IoT products. As a pioneer of IoT, Intel is expected to attract more IoT suppliers to Vietnam in the future. Intel Vietnam has had many initiatives to train the local workforce to meet American standards.

January 18, 2017 09:45 UTC

Lunar NY festival organised at ancient communal house

Lunar NY festival organised at ancient communal houseVietNamNet Bridge – Various traditional customs of the Vietnamese Lunar New Year will be featured this Sunday, January 22, at So Village’s communal house on the western outskirts of Ha Noi. Traditional square cakes will be made at Tet Viet event. — Photo Courtesy of Dinh Lang Viet groupThe event is an annual gathering hosted by the Dinh Lang Viet (Vietnamese Communal House) Group, a Ha Noi-based community of people keen on preserving ancient values of communal houses. The event will include a ceremony to erect cay neu, a tall bamboo tree in the communal house’s yard. A traditional worship ceremony will be held, along with events featuring the art of drawing calligraphy and folk singing.

January 18, 2017 09:39 UTC

Art imitates life? Kim Kardashian films cameo for jewel heist movie

Art imitates life? Kim Kardashian films cameo for jewel heist movieFour months after being robbed at gunpoint in Paris, Kim Kardashian is filming a cameo for the upcoming female heist caper "Ocean's Eight." Kim Kardashian arrives at the 2016 MTV Video Music Awards in New York, U.S., August 28, 2016. In October, Kardashian was tied up and robbed of some $10 million of jewelry in Paris while attending fashion week. "Ocean's Eight" is a female-driven spinoff of the "Ocean's Eleven" crime caper trilogy starring George Clooney and Brad Pitt in the early 2000's.

January 18, 2017 08:05 UTC

Japan's Irisawa new women’s volleyball coach

Japan's Irisawa new women’s volleyball coachVietNamNet Bridge – The national women’s volleyball team will have Japanese head coach Hidehiro Irisawa, who is expected to push Viet Nam to a higher level. Japanese Hidehiro Irisawa will become head coach of Viet Nam women’s volleyball team. He worked with the national team last June and came back last month to watch the national championship in Ha Tinh Province. He took charge of the Kenyan women’s team in 2009 and helped them to win berths at the World Championship in the same year and the World Cup one year later. Before arriving in Viet Nam, Irisawa coached the men’s team of Nihon University.

January 18, 2017 08:05 UTC

Facebook's Zuckerberg questioned at trial over virtual-reality technology

Facebook's Zuckerberg questioned at trial over virtual-reality technologyFacebook Inc chief executive Mark Zuckerberg took the witness stand in Dallas federal court on Tuesday and denied an allegation by a rival company that the virtual-reality technology of Facebook's Oculus unit was stolen. ZeniMax said that Oculus unlawfully used its intellectual property to develop the virtual-reality system that includes the Rift headset. Zuckerberg said the Oculus deal was done over a weekend in 2014, which Sammi said did not show sufficient due diligence. "It's pretty common when you announce a big deal that people just come out of the woodwork and claim they own some part of the deal," Zuckerberg said. He told jurors how he used virtual reality to capture his daughter's first steps, so her grandparents could experience it later.

January 18, 2017 08:05 UTC

Vietnam partakes in Raisina Dialogue in India

Vietnam partakes in Raisina Dialogue in IndiaVietnam is participating in the second Raisina Dialogue - a geopolitical conference, in India from January 17-19. Indian Prime Minister Narendra Modi (C) at the eventSenior Lieutenant General Pham Ngoc Minh, Deputy Chief of the General Staff of the Vietnam People’s Army, led a delegation to the event. Respecting freedom of navigation and adhering to international norms is essential for peace and growth in the Indo-Pacific region, he said. He highlighted collaboration with Southeast Asia as a focus in the Act East Policy of India. Themed “The New Normal Multilateralism with Multipolarity”, the second Raisina Dialogue attracted more than 250 delegates from 65 countries.

January 18, 2017 05:05 UTC

VN's top marksman Hoang Xuan Vinh receives Cup of Victory as best athlete

VN's top marksman Hoang Xuan Vinh receives Cup of Victory as best athleteVietNamNet Bridge – Marksman Hoang Xuan Vinh won the Cup of Victory as the best male athlete of 2016 in a Gala awarding ceremony held yesterday in Ha Noi. Marksman Hoang Xuan Vinh speaks to audiences after receiving his Cup of Victory yesterday in Ha Noi. Vinh made history at the Rio Olympic Games as the first Vietnamese athlete to ever win a gold medal. The most favoured athlete trophy went to gymnast Pham Phuoc Hung. The Best Sport Image winner was awarded VND10 million, while the rest got VND30 million each.

January 18, 2017 04:50 UTC

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