It was business as usual Wednesday with many gold sellers near the Ben Thanh Market in HCMC’s District 1 offering currency exchange services. One gold shop, which was selling a dollar for VND23,490, and buying it for VND23,440, said better prices would be offered for large transactions. The seller said that customers are either taken inside the shop to receive money away from the public eye; or they could ask for the cash to be delivered at a place of their choice. Shops on Ha Trung Street, a popular currency exchange destination in Hanoi, were also offering the same service. An economist in HCMC who asked not be named said that this buying and selling of foreign currency has been happening for a long time although it was illegal, strictly speaking. It was difficult for authorities to manage it, he felt. Where there is demand, there will be supply, the economist said, adding that the number of authorized money exchange points in the country was low. Most banks are located in the … [Read more...] about Illegal money exchange a normal practice in Vietnam
Money
EU should set up anti-money laundering body, publish fines
EU should set up anti-money laundering body, publish fines - expertsThe Saigon Times Daily<table align="left" cellpadding="0" cellspacing="0" class="sgtoimageleft" style="margin-bottom:8px" width="100%"> <tbody> <tr> <td align="center"> <img alt="" class="sgtoimageleft" rel="POPUP,650,433" src="/Uploads/Articles/63644/f5e91_eu.jpg" style="WIDTH: 650px" /></td> </tr> <tr> <td class="sgtoimageleft"> European Union flags are seen outside the EU Commission headquarters in Brussels, prior to a meeting between Britain's Secretary of State for Exiting the EU Dominic Raab and EU's chief Brexit negotiator Michel Barnier, Belgium October 14, 2018 – PHOTO: REUTERS</td> </tr> </tbody> </table> <p align="left" class="SGTOSummary"> BRUSSELS (REUTERS) - The European Union should set up a new agency to counter money laundering after a series of high-profile cases at banks bared weaknesses in the … [Read more...] about EU should set up anti-money laundering body, publish fines
Charity-run to raise money for needy people
The information was announced at a press conference held by the British Business Group Vietnam (BBGV) on October 18 in Hanoi. The event aims to promote sportsmanship among people, motivate the community to exercise and raise money for charity in Vietnam in various fields such as education, health, disaster prevention with the hope of creating a better life for the Vietnamese people. Christopher Jeffery, Vice Chairman of the British Business Group Vietnam "The event is held to support charitable organizations throughout Vietnam in implementing projects to raise people's intellectual standards, improve working capacity and enhance community cohesion. We hope that this year's event will see the participation of nearly 7,000 people, raising VND 700 million (USD 29,981) for projects and programs to create positive and sustainable changes in the lives of needy people in Vietnam,” said Christopher Jeffery, Vice Chairman of the British Business Group Vietnam. … [Read more...] about Charity-run to raise money for needy people
Art exhibition raises money for poor women
Bright: Diva by Trần Vũ Hoàng. Viet Nam News Teachers Nguyễn Thị Thúy Hường and her friend Trần Vũ Hoàng both have a passion for the arts. In honour of this year’s Vietnamese Women’s Day, the artists will be auctioning off some of their works to help women undergoing hemodialysis. Hà Nguyễn reports. “Em… particularly women and girls who are unlucky or facing difficulties in life, were the main source of inspiration for our paintings,” said Nguyễn Thị Thúy Hường, who is a teacher at a primary school in Hà Nội. Hường and her friend Trần Vũ Hoàng, who is deputy head of the Hà Nội College of Art, said although their regular jobs were at school, they were interested in fine arts, respecting beauty and values of human culture. An exhibition entitled ‘Em…’ displaying more than 60 works by … [Read more...] about Art exhibition raises money for poor women
Drawing investors’ money and intellectual capital
Experts said that drawing investment from private investors in the period is not only drawing their money, but also their intellectual capital and knowledge management. Join us to explore the issue. This Foreign Direct Investment enterprise has invested in agriculture and food processing in Vietnam for years. Initially, it set to use domestic materials for its production, but failed to do so. This year, it needs 18,000 tonnes of potatoes for production, however, local farmers are able to supply only 40 percent of the demand, leaving the rest of 60 percent for Chinese suppliers. This company wants to work with research institutes to create new varieties of good-quality potatoes that can meet all of its raw material needs. That fact shows if businesses team up with research institutes right from the creation of varieties, they could gain immense outcomes. A coffee cooperation program between businesses, scientists from the Western Highlands Agro-Forestry Scientific and Technical … [Read more...] about Drawing investors’ money and intellectual capital