Vietnam 

State capital divestment faces pressure – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    A production line of the Sài Gòn Beer, Alcohol and Beverage Corporation ( Sabeco). State divestment of Sabeco helped the State collect about US$5 billion. — Photo sabeco.com.vn   HÀ NỘI — Capital divestment from State-owned enterprises had slowed and was still facing difficulties, said Đặng Quyết Tiến, director of Corporate Finance Department under the Ministry of Finance.   The process needed to be sped up and avoid corruption that led to loss of state capital, he said. According to the target set by Prime Minister Nguyễn Xuân Phúc,…

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Hong Kong-listed developer Beijing Capital Land fast tracks projects to stay competitive, reports 70pc sales increase

Hong Kong-listed Chinese state-owned developer Beijing Capital Land has reported a 70.6 per cent surge in cumulative contracted sales to 18.8 billion yuan (US$2.7 billion) for the first four months of 2019, on the back of a switch to a strategy of fast turnovers.Ongoing cooling measures put in place by the Chinese government have pushed the company to reduce its average project cycle by 58 days to boost sales. Beijing Capital now tries to obtain project presale permits within nine months, as… Source link

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Vietnam 

Trường Thành Furniture to acquire ceramics firm to raise capital – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HÀ NỘI — Trường Thành Furniture Corporation (HoSE: TTF) would acquire Thiên Thanh Sanitaryware JSC on Tuesday to avoid the risk of cumulative losses outpacing charter capital, cafef.vn reported. After the merger, Trường Thành Furniture will take over the business activities of Thiên Thanh Sanitaryware JSC. The acquisition was approved at the former’s extraordinary shareholder meeting in late October 2018. At another extraordinary shareholder meeting the following month, shareholders in Trường Thành approved a plan to issue 96.6 million shares to swap for Thiên Thanh shares at a rate of 8.21 to 1.…

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Hong Kong’s dollar weakens below low end of trading band as capital flight from China’s stocks gathers pace in escalating trade war

The Hong Kong dollar briefly touched the lower limit of its trading band in late New York trading on Friday, as capital from a withdrawal of exchange traded funds (ETFs) and from China’s stock market was converted back into hard currency.The local currency touched 7.85000 per US dollar in New York, the weak end of a HK$7.7500 – HK$7.8500 trading band against the US dollar, which was introduced in 2005. It is not clear if it was traded at that level.Under the Linked Exchange Rate System, the… Source link

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Where has all the money gone? US-China trade war triggers capital flight from emerging Asian markets

Trade war fears have triggered abrupt capital flows around the globe, as funds flee equities to seek shelter in lower risk assets and less trade dependent regions.Data from Jefferies and the Institute of International Finance showed that emerging markets saw the largest capital outflow in eight months, while inflows into bond funds grew at their fastest pace in 17 years. Global equities ETF (exchange-traded funds) meanwhile posted a combined outflow of US$22.6 billion over the past two weeks,… Source link

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Vietnam 

Vietnamese banks see improved capital adequacy ratios – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vietcombank is one of the few banks to have met Basel II standards before the central bank’s 2020 deadline. — VNA/VNS Photo HÀ NỘI – The capital adequacy ratio (CAR) of Việt Nam’s credit institutions has improved thanks to their increased equity.  The latest report from the State Bank of Việt Nam (SBV) released last week showed the CAR of credit institutions had inched up to 11.80 per cent at the end of February from 11.57 per cent in the first month of 2019. Previously, the CAR dropped from 12.14 per…

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Donald Trump’s crackdown on Chinese investment in US sparks huge shift into venture capital

Chinese investors, finding the US business environment uninviting, are turning to venture capital to skirt heightened scrutiny, while some have pivoted to other parts of the world altogether.Chinese foreign direct investment (FDI) into the US plummeted for the second straight year in 2018, tumbling 83 per cent to US$5 billion, according to a Wednesday report by the National Committee on US China Relations.A year earlier, FDI amounted to US$29 billion, down from the peak of US$46 billion… Source link

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Vietnam 

Capital city to host 26th Vietnam Medi-Pharm expo – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Visitors at the Vietnam Medi-Pharm 2018 in Hà Nội. Photo vnmedia.vn   HÀ NỘI — The Việt Nam International Medical and Pharmaceutical Exhibition (Vietnam Medi-Pharm 2019) will return to the capital city on Wednesday.     The four-day expo event would draw the participation of 450 companies from Belgium, China, the Czech Republic, Germany, Japan, South Korea and the US, its organisers said at a press conference last week.  On display at 550 booths would be pharmaceutical products, food supplements, pharmaceutical processing, manufacturing and packaging equipment, lab equipment, and healthcare services. Various events would be…

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Vietnam 

Capital city strives for 900 firms in supporting industries by 2020 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Workers inspect parts at a factory in Hà Nội. Photo hapi.gov.vn   HÀ NỘI — The capital city has set a goal of having about 900 firms in supporting industries by late 2020, according to the municipal Department of Industry and Trade.   Of them, some 400 would be eligible to have production systems and their products in line with international standards, as well as have sufficient supply capacities in global production networks from multinational corporations in Việt Nam, the department said. Top priority should be given to fostering trade…

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