Vietnam 

Central bank stipulates special control for credit institutions – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The headquarters of the State Bank of Việt Nam in Hà Nội. Credit institutions which are given weak rankings for two consecutive years will be placed under the SBV’s special control. — Photo SBV HÀ NỘI — The State Bank of Việt Nam (SBV) has issued a circular regulating special control for credit institutions. Under Circular 11/2019/ TT-NHNN, which will take effect of October 1 this year, credit institutions (excluding policy banks) that fall into one of the following seven cases will be placed under the SBV’s special control. First are credit institutions facing a shortage…

Read More
Vietnam 

Banks required to tighten control over credit cards – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The central bank has asked commercial banks to review transactions and terminate contracts with customers suspected of using their credit cards for improper purposes. Photo baodauthau.vn HÀ NỘI The State Bank of Việt Nam (SBV) has directed commercial banks to tighten control over credit card payments to prevent the improper use of credit cards. Under the instruction, SBV has asked commercial banks to review transactions and terminate contracts with customers suspected of using their credit cards for improper purposes. Banks should review contracts with units accepting credit card payments…

Read More
Singapore 

Vegetation fire in Marina East ‘the size of two football fields’ brought under control, Singapore News

SINGAPORE – A large fire broke out near East Coast Park on Monday night (Aug 12), affecting an area the size of two football fields. The Singapore Civil Defence Force said it responded to a vegetation fire near Marina East Drive that was “approximately the size of two football fields” at about 8.50pm. About 50 firefighters and 12 emergency vehicles were deployed, SCDF said in a Facebook post. It surrounded the fire with seven water jets and brought it under control at 10.30pm. There are no reported injuries, said SCDF.…

Read More
Vietnam 

Foreign debts under Government’s control: Deputy PM – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Deputy Prime Minister Vương Đình Huệ speaks at the meeting. The country’s foreign debts reduced to 46 per cent of its gross domestic product (GDP) by the end of 2018 from 48.9 per cent a year earlier. VNA/VNS Photo HÀ NỘI – The Government’s foreign debts have been declining sharply and under the Government’s control, Deputy Prime Minister Vương Đình Huệ said while chairing a meeting with leaders of some ministries, sectors and the National Financial Supervisory Commission in Hà Nội last Friday. In 2018, the Government set a loan…

Read More
Vietnam 

Market Watch tightens control on moon cakes – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Market watch officers inspect a moon cake shop in Quy Nhơn City, Bình Định Province. — VNA/VNS Vũ Sinh HÀ NỘI — The Market Watch General Department will take samples of moon cakes sold to the public for tests to ensure the quality and safety of the products during the Mid-autumn Festival, which starts next month. The Ministry of Industry and Trade will assign relevant units to do the tests.  The department will also keep an eye on homemade moon cakes, which are sold online and via orders. The origin…

Read More
Money 

China’s control over its entire economy weakened as Baoshang Bank failure starts domino effect

The scene is just as you would expect in any bank on any normal workday, customers going about their business while staff and security guards share the occasional joke as warm July afternoon sunlight fills the lobby.Just over two months earlier, the scene inside the bank in the Inner Mongolian city of Baotou was completely different. On May 24, financial regulators unexpectedly took over Baoshang Bank, the first bank failure in China in more than 20 years. It set off a chain reaction that… Source link

Read More
Property 

London mayor seeks rent control powers, will clamp down on sky-high leases

Rent controls could be coming to London if the city’s mayor gets his way.Sadiq Khan wants to follow in the footsteps of Berlin and New York, in seeking to clamp down on inflation-busting rent increases, but lacks the power to impose the rules. Instead he is published a blueprint for how the government could hand down powers that would include giving renters open-ended tenancies and the ability to bring rents down.Cities around the world are grappling with an affordable housing crisis after a… Source link

Read More
Home 

Victory in bitter family feud for control of Great Eagle, one of Hong Kong’s richest property empires, is bitter sweet for chairman Lo Ka-shui as global recession looms

For Lo Ka-shui, his tentative victory in a high-profile family feud over a HK$24 billion (US$3 billion) property inheritance has proved to be something of a mixed blessing.Having seen off an attempt by his mother to win back control of Great Eagle Holdings, one of Hong Kong’s wealthiest property dynasties, he faces the daunting prospect of trying to keep the company’s international hotel empire growing.The protracted trade war between the world’s two largest economies has dampened sentiment… Source link

Read More
Vietnam 

Government asks for tight control over corporate bond issuance – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A corner of the Văn Phú Victoria real estate project, which is built by Văn Phú-Invest JSC. The company is among property developers that want to raise capital from bond issuance with annual yield rate of 12 per cent. — Photo ndh.vn HÀ NỘI — Deputy Prime Minister Vương Đình Huệ has asked for tight control of corporate bond issuance so the finance and equity sectors operate properly and safely. A number of companies, especially property developers, have offered corporate bonds with high volumes and yield rates (12-14 per…

Read More
China 

China’s government mulls special stake in wallstreetcn.com as it looks to control the flow of information on trade, economics

The Chinese government is trying to extend its oversight of sensitive subject matters to trade, economics and business – in addition to politics, religion and race – by muscling in on the ownership of private media organisations.The Cyberspace Administration of China (CAC), which regulates the country’s internet, smartphone applications and websites, is working on a plan to take a minority stake with super voting power in Shanghai Aniu Information Technology, the operator of the wallstreetcn… Source link

Read More