Vietnam wins four gold medals in Singapore Athletics OpenVietnam won four gold medals at the ongoing 80th Singapore Open Track and Field Championship. Pham Thi Hue (L) and Pham Thi Hong Le celebrate with the national flag after winning the women’s 5,000m event of the Singapore Open Track and Field Championship (Photo: zing.vn)Pham Thi Hue and Nguyen Van Lai won two gold medals in the women’s and men’s 5000m, respectively. The 5,000m race also had a silver medal winner in the women’s category in Pham Thi Hong Le, who finished after Hue with a time of 17:39.84. Earlier, Vietnam dominated the 3,000m steeplechase events on April 11. Two-time Southeast Asian Games winner Nguyen Thi Oanh topped the women’s pool with a time of 10:42.53.-VNA

World music with The TransplantedManzi Art Space will host a world music night featuring Di Thuc or The Transplanted – a fusion group bringing together six musicians from Morocco, Viet Nam, France and Australia. The Transplanted is a fusion/world music group bringing together six musicians from Morocco, Viet Nam, France and Australia. Working together in Morocco and in Viet Nam over the past year, the group has prepared a unique repertoire for several shows Viet Nam this April, drawing on traditional music from Morocco, France and Viet Nam, as well as original compositions combining these and other world music influences. Their performance at Manzi will start at 8pm Friday. Due to limited seating capacity, please email manzihanoi@gmail.com to reserve seats.

How can Chinese capital be used in the most effective way? If counting $120 million worth of Chinese capital contribution into Vietnamese enterprises, the total newly registered capital from China was $338 million in the month. Some experts pointed out that though Chinese investment capital does not bring benefits in terms of the environment and technology, Vietnam cannot refuse the important capital source. The best way to deal with Chinese capital is to take full advantage of the capital for development and minimize the negative effects. Finland receives a large amount of capital from Russia, but it uses the capital selectively, focusing on technology and economic development.

Vietnam Expo 2018 kicks off in HanoiAn international trade fair opened in Hanoi on April 11, drawing the participation of 450 businesses from 24 countries and territories. Vietnam Expo 2018 aims to enhance regional and global economic links. Russia attends the event as the guest of honour, with a hope that the expo will create an effective trade promotion chance for both sides. Many promotion activities will also take place on the sidelines of the four-day expo such as an export promotion forum, specialised workshops, and visits to industrial parks. First held in 1991, Vietnam Expo has become one of the biggest and most important trade promotion activities of the industry and trade sector.

Ministry to auction Vietnam Airlines’ share purchase rightsThe Ministry of Transport will auction 371.5 million share purchase rights, equivalent to 57.9 million additional shares, in Vietnam Airlines’ upcoming share issuance. Vietnam Airlines staff at the check-in counters in Noi Bai International Airport. The starting price for each Vietnam Airlines stock is VND6,026. Vietnam Airlines also announced the issuance of shares to the public with a registered 191,191,377 shares for existing shareholders, at VND10,000 per share. In January 2017, Vietnam Airlines started listing and trading on UPCoM with the stock code HVN.

Vietnam in top ten countries for visitors to SingaporeVietnam was first listed among the top ten countries with the highest number of visitors travelling to Singapore last year, after more than a decade of being placed in 13th position. Vietnamese tourists in Singapore. The numerous options for shopping are the main attraction for Vietnamese tourists in Singapore. China topped the list with 3 million visitors, followed by Indonesia, India, Malaysia, Australia, Japan, the Republic of Korea, the US, Vietnam, and Thailand. Singapore welcomed 17.4 million international visitors last year, with an estimated turnover of US$20 billion.

Dialogue held to remove difficulties for scientistsDeputy Prime Minister Vu Duc Dam chaired a dialogue meeting with scientists from the Vietnam Academy of Science and Technology (VAST) and the Vietnam Academy of Social Sciences (VASS) in Hanoi, on April 11, with the aim of removing difficulties encountered in the process of registration, research, and acceptance of scientific research topics, projects, and programmes. Deputy PM Vu Duc Dam speaking at the dialogue. During the dialogue, the scientists frankly and openly discussed the difficulties faced in implementing scientific research topics, projects, and programmes. Prof. Dr. Bui Minh Tri from the VASS suggested that the State issues specific policies for remote and isolated areas in order to thoroughly handle hindrances for scientists. At the meeting, Minister of Science and Technology Chu Ngoc Anh frankly answered the queries and problems that were raised by the scientists.

Japanese retailers rush to open more shops in VietnamVietNamNet Bridge - Japanese retailers are pursuing their business strategy to open more convenience stores, malls and mini-marts within the next few years. Japanese retailers rush to open more shops in VietnamThe groundbreaking ceremony for Aeon Mall Ha Dong shopping mall project was held several days ago. Japanese retailers are pursuing their business strategy to open more convenience stores, malls and mini-marts within the next few years. As of the end of 2017, Vietnam had 800 supermarkets, 150 shopping malls, 9,000 traditional markets and 2.2 million retail shops. 7-Eleven plans to open 100 shops in the next three years and 1,000 shops in 10 years.

Third Vietnam-Sri Lanka political consultation held in ColomboThe third Vietnam-Sri Lanka political consultation took place in Colombo on April 11, during which the two sides agreed to roll out measures to elevate the Vietnam-Sri Lanka partnership. Delegates at the eventDeputy Foreign Minister Dang Dinh Quy and his Sri Lankan counterpart Sumith Nakandala co-chaired the event. Vietnam and Sri Lanka agreed to continue working closely together and supporting each other at regional and international forums. Sri Lanka recognised Vietnam’s proposal to support Vietnam’s bid to become a non-permanent member of the UN Security Council in the 2020-2021 tenure. The two sides will coordinate to organise a visit of the Sri Lankan Foreign Minister to Vietnam in the near future.

Banks fulfill 25-30 percent of profit goalMany banks were estimated to meet 25-30 percent of their annual profit targets by the end of March, although the first quarter is usually the most sluggish for banks. According to Luu Trung Thai, General Director of Military Bank, the turnover of his bank in the first quarter is estimated at 3.5-3.6 trillion VND (154.2-158.6 million USD), while the minimum pre-tax profit is at some 1.6 trillion VND, up 44 percent year-on-year.With the rise, Thai believed that it is feasible for his bank to meet the 6.8 trillion VND profit target set for this year, up 47 percent against last year.VIB Chairman Dang Khac Vy said his bank’s cost-income ratio reached 52 percent and pre-tax profit exceeded 500 billion VND in the first quarter, three times higher than the same period last year.By the end of the first quarter, VIB met 25 percent of its total pre-tax profit target of 2 trillion VND set for 2018.With a monthly profit of some 350 billion VND, HDBank estimated its profit to reach nearly 1.05 trillion VND in the first quarter, three times higher than the same period in 2017. With a profit target of 3.9 trillion VND for 2018, the bank has already met 28 percent of the annual plan.Orient Commercial Joint Stock Bank’s profit by the end of March also tripled that of the same period last year to reach more than 600 billion VND. The bank plans to earn a profit of 2 trillion VND this year.LienVietPostBank achieved 28 percent of the annual profit target as it posted a pre-tax profit of more than 500 billion VND by the end of the first quarter.Experts attributed the positive business performance of banks to the credit growth right at the beginning of the year. According to the National Financial Supervisory Commission, outstanding loans in the banking system, as of March-end, were estimated to have risen by 3.5 percent against December last year, of which loans in Vietnamese dong increased by 3.3 percent and accounted for 91.9 percent of total outstanding loans.Besides the high credit growth, another factor that has helped the banks prosper in the first quarter is the positive bad debt settlement as banks have not had to spend as much on risk provisioning as in previous years.Assessing the factors affecting the banking sector in 2018, analysts of Saigon Securities Incorporation (SSI) said credit would continue to be improved, in which the opportunity of consumer credit to prosper was highly valued.According to SSI, the average cost of capital in 2018 will be reduced because of the Government’s support policies and significant improvement in the balance of payments in 2017 and 2018.Specifically, the refinancing, rediscount, overnight and OMO (open market operations) interest rates were cut by 0.25 percentage points per year over the past year.The sale of stake in State-owned enterprises in 2018 will continue to attract a large amount of foreign capital, leading to the need to pump a large amount of local currency into the system, SSI said.Considering the above factors, SSI predicts that profits in 14 listed banks will surge at an average of 32.9 percent in 2018.-VNA

HNX, Moscow Exchange sign MoU on cooperationThe Hanoi Stock Exchange and the Moscow Exchange (MOEX) signed a Memorandum of Understanding (MoU) on cooperation within the framework of the 22nd Capital Market Development Forum in Moscow on April 10. He said the MoU will open up new opportunities for Russian investors and offer Vietnam an insight into the Russian securities market and bourse model. Deputy Chairwoman of the HNX Board of Management Nguyen Thi Hoang Lan lauded MOEX as not only a large-scale securities bourse but also a hub of great ideas to run Russia’s securities market and economy. She said through the MoU, Vietnam will learn about MOX’s experience in developing investment funds, stocks and debts, transaction and monitoring system and corporate governance. Following the signing ceremony, both sides held a working session to discuss experience in operating stock, bond, derivatives and goods markets.-VNA

Vietnamese wins gold medal in junior world taekwondoVietNamNet Bridge – Ho Thi Kim Ngan won a gold medal on Wednesday (Ha Noi time) at the World Taekwondo Junior Championship in Tunisia. Ho Thi Kim Ngan of Vietnam (second, left) poses with other athletes after winning a gold medal of the women’s U49kg title at the World Taekwondo Junior Championships in Tunisia. Two years ago, Ngân won a gold in the U44kg discipline. Prior to Ngan, Pham Ngoc Cham (women’s U46kg) and Pham Dang Quang (men’s U63kg) both lost at the world event. The world tournament, which will wrap up on Friday, has welcomed more than 1,500 visitors from over 156 countries.

High-speed composite ferries to undergo inspection after accidentVietNamNet Bridge – All high-speed composite ferries operating on the Bach Dang – Can Gio - Vung Tau route will undergo inspection and vessel verification following a ferry accident on April 8, according to the owner of the Greenlines ferry service. A Greenlines DP C3 ferry sank near the Tac Suat Wharf in HCM City’s Can Gio District early Sunday morning. All high-speed ferry services were suspended after the ferry accident. The Greenlines’ high-speed ferries DP C4 and DP C5 have also suspended service. All of the high-speed ferries are new vessels that are periodically maintained, he said.

PM orders tighter control of Bitcoin, cryptocurrencyPrime Minister Nguyen Xuan Phuc has required the State Bank of Vietnam (SVB), financial institutions, and other organisations providing payment brokerage services to intensify inspections and promptly report suspicious cryptocurrency transactions. The State Bank of Vietnam (SVB), financial institutions, and other organisations providing payment brokerage services ​must intensify inspections and promptly report suspicious cryptocurrency transactions. The Ministry of Industry and Trade must channel efforts into addressing illegal activities relating to the illegal use of Bitcoin to make payment on e-commerce websites or applications. The Ministry of Justice is responsible for completing a legal framework on the management and settlement of cryptocurrency or crypto assets. Cryptocurrency is considered an illegal non-cash payment method in Vietnam.

South Korean couple found dead in Hanoi apartmentHanoi police is investigating into the death of a South Korean couple at the Keangnam Hanoi Landmark Tower on April 11. The Keangnam Hanoi Landmark TowerAccording to the Tu Liem District's Police Department, they were informed about the death of a South Korean man and woman at room A1702 on the 17th floor of the building at 8 am. The man was found dead on the bed and the woman was dead hanging in the wardrobe. Keangnam Hanoi Landmark Tower which was invested by South Korea's Keangnam Enterprise was put into used in 2011. The 72-floor building was recognised as the highest building in Vietnam and 17th tallest in the world.