Vietnam 

Ministries, gov’t agencies fail to disclose spending details – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The ceremony introducing the MOBI 2018 Report on Tuesday, – Photo saigondautu.com.vn HÀ NỘI – Twenty of total 37 ministries and central government agencies receiving funding from the State budget disclosed no information about expenses in 2018, a report revealed on Tuesday. The report was named MOBI 2018 and developed by the Centre for Development and Integration (CDI) and the BTAP Coalition, which promotes transparency, accountability and citizen participation in state budget management, with support of the non-governmental organisation Oxfam. The ministries and central agencies studied by the report did…

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Vietnam 

VN enterprises need support from State management agencies: VCCI – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Frog meat is processed for export at Tan Thanh Loi Company Limited in Long An province. State management agencies need more practical solutions to help enterprises in dealing with difficulties. — VNA/VNS Photo Danh Lam HÀ NỘI — The increasing number of businesses becoming operational again since the beginning of this year indicates positive economic development prospects, said Vũ Tiến Lộc, chairman of the Việt Nam Chamber of Commerce and Industry (VCCI). However, Lộc said, there are still many firms facing difficulties and obstacles due to institutions and overlapping legal…

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Singapore 

Auditor-General finds lapses in procurement, contracts and IT controls in public agencies, Singapore News

SINGAPORE – Weaknesses in IT controls, as well as irregularities in procurement and contract management were among the key financial lapses in several ministries and government agencies flagged by the Auditor-General’s Office (AGO) in its latest annual report. The report was made public on Tuesday (July 16), after the AGO’s audit of government accounts for the 2018/2019 financial year. The report covers the financial statements of all 16 ministries and eight organs of state, as well as nine statutory boards, four government funds, four government-owned companies and three other accounts.…

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Home 

It’s time for China to allow foreign credit rating agencies into its US$13 trillion bond market, say experts

International rating agencies must be allowed to operate in China if foreign money is to flow freely into its bond market, said industry experts.China’s US$13 trillion bond market, the world’s third largest, is gradually opening up to foreign players as it starts to join global bond benchmarks.The next key step must be for all global rating agencies to be granted access to the Chinese market, so overseas investors can understand and compare the ratings with those at home, said Nick Gendron,… Source link

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Vietnam 

Gov’t agencies blamed for lack of corporate transparency – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The slow listing of post-equitisation firms, including State-owned enterprises (SOEs), may make Vietnamese firms less attractive regarding a lack of corporate transparency and government agencies managing those firms must be blamed for the problem.— Photo vov.vn HÀ NỘI — The slow listing of post-equitisation firms, including State-owned enterprises (SOEs), may make Vietnamese firms less attractive regarding a lack of corporate transparency and government agencies managing those firms must be blamed for the problem. According to the State…

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Home 

Chinese tech under the microscope: US agencies step up reviews of research activity on American campuses

Huawei Technologies, China’s largest smartphone maker, broke into the American consciousness this month when its chief financial officer Meng Wanzhou was detained in Vancouver, British Columbia, on a warrant from the US, which seeks to extradite her on charges she committed fraud and violated sanctions against doing business with Iran. But while her bail hearing made headlines over several days, US agencies had been stepping up reviews of Huawei’s activities on several fronts well before then, especially in efforts to track and monitor China’s participation in advanced research conducted at…

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China 

Will licence to operate for US rating agencies equate quick entry into China’s bond market? Far from it

Foreign rating agencies might soon be granted their first licences to operate in China, but their access to rate domestic bonds and traditional products that account for most of the market in the short term could be limited by regulatory constraints and their know-how of the mainland landscape, said Chinese executives in the industry. The warning comes amid rising expectations that China, under mounting US pressure, would accelerate its pace of opening up the financial services sector after the trade truce between the two countries was struck at the weekend.…

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Home 

Trade war likely to be ‘prolonged’, denting confidence, rating agencies say

Credit rating agencies are becoming increasingly concerned about the potential impact of the escalating trade war between the United States and China as it looks to be more protracted and deeper than some had hoped. In a new report on Friday, Moody’s Investors Service said that it now believes the economic tensions between the world’s two largest economies is likely be prolonged and will have “unintended consequences” for a number of American companies, including sellers of furniture, home goods and electronics. “Industries that use more expensive imported or domestically produced…

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