Mobile technologies in Vietnam are getting a boost with the creation of a new research laboratory, dubbed mLab East Asia, in Ho Chi Minh City that is backed by the global technology giant Nokia and the World Bank. The government of Finland, the home of Nokia, is also backing mLab, a name that signifies tands for “mobile applications laboratory.” Represents of Finland, Nokia and the World Bank’s Information for Development programme (infoDev) launched the effort last week in a collaboration with a Saigon Hi-Tech Park (SHTP) consortium that includes National University Ho Chi Minh City, FPT University and Elcom Ltd. At the opening ceremony, Finland’s ambassador to Vietnam Kimmo Lahdevirta touted mLab East Asia as “a regional hub for building and promoting development of innovative mobile application solutions in the East Asia region. “By providing technical and financial grant support to Vietnam in the innovation and new technology sector,” … [Read more...] about mLab East Asia to stiffen mobile technologies
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Vietnamese banks eye East Asian partners
VietNamNet Bridge – Of the foreign financial groups expressing their wish to become shareholders of Vietnamese banks, the Japanese have proven to be the best candidates. Previously, Vietnamese banks were inclined to seek strategic shareholders among investors from the US and Europe, who had experience, modern technology and powerful financial capability. However, analysts say, Vietnamese bankers have changed their minds. Since 2008, when the global financial crisis broke out, Europe and the US have become less attractive. Financial groups in those countries have had to focus on overcoming the crisis, rather than considering outside investment. In addition, the general director of a HCM City-based commercial bank believes that the US and European financial groups are not the most suitable partners for Vietnam in terms of business culture. He said this was why more and more Vietnamese bankers are eyeing partners from East Asia, especially Japan. Dau tu chung khoan has quoted its … [Read more...] about Vietnamese banks eye East Asian partners
Hong Kong leader agrees student dialog as sit-in goes on
Hong Kong pro-democracy protesters strengthened barricades around the government’s main office building, digging in ahead of talks pledged by top official Leung Chun-ying aimed at defusing a week-long standoff. The government was forced to close the offices in the Admiralty district after student-led protesters blocked key entrance points. Heavy rain contributed to dwindling numbers of demonstrators at two secondary sites of the occupation. The protests spurred by China’s decision last month that candidates for a 2017 leadership election must be vetted by a committee pose one of the biggest challenges Chinese President Xi Jinping has faced since taking over the Communist Party two years ago, as he seeks to stamp out corruption and dissent at home. Demonstrators see the protests as a last chance to secure democracy for Hong Kong and force China to respect the “One Country, Two Systems” pledge it made when it took control of Hong Kong in 1997 after 156 years of … [Read more...] about Hong Kong leader agrees student dialog as sit-in goes on
There they go again: Asia central bank policies spur bubbles
Recent years have seen reams of research on the role of central banks in inflating asset-price bubbles. The latest developments in Asia suggest that more may be coming. With interest-rate cuts in New Zealand and South Korea, and the potential for more easing in Australia and China, policy makers are fanning the risk of bubbles a decade after their U.S. counterparts oversaw a record mortgage boom. The central bank of New Zealand Thursday lowered interest rates even in the face of a booming property market in the nation’s largest city. South Korea followed suit, potentially encouraging gains in household debt levels that are already at a record. The Reserve Bank of Australia governor Wednesday said he may lower rates again, even as he wrung his hands over what he dubbed as “crazy” Sydney house prices. Then there’s China, ground zero for the mother of all stock-market surges. The market capitalization of Chinese shares has climbed $6.5 trillion in the past year as … [Read more...] about There they go again: Asia central bank policies spur bubbles
Air Asia to establish joint venture airline in Vietnam
AirAsia Bhd through its fully owned subsidiary, AA International Ltd, is set to establish a joint venture airline in Vietnam, the Malaysian news agency Bernama reported on February 10. … [Read more...] about Air Asia to establish joint venture airline in Vietnam