The central bank’s statistics showed loan payment deadlines were restructured for nearly 260,000 customers with outstanding loans worth nearly VND18 trillion (US$775.8 million). Interest rate cuts and exemptions were offered to more than 421,000 customers to the tune of VND1.3 quadrillion. Banks also provide new loans worth VND1.1 quadrillion to 240,000 customers at rates 0.5-2.5 percentage points lower than pre-pandemic. … [Read more...] about Stronger money policies might be considered to aid economic growth
The global green growth institute
A worker operates a yarn processing line at Best Pacific Vietnam Co. Ltd at the Vietnam-Singapore Industrial Park (VSIP) in the northern province of Hai Duong. (Source: VNA) Vietnam has now integrated more deeply into the global economy thanks to the strong development of its manufacturing sector, said economist Chidu Narayanan at Standard Chartered Bank. The country has one of the most open economies in Asia, with a trade-to-GDP ratio surging to 300 percent, so it heavily depends on global demand, he explained. … [Read more...] about Standard Chartered Bank: Vietnam’s 2020 economic growth to fall to 3.3 pct.
VIB reported high and quality retail growth. Lending to individuals and small businesses increased by 46 per cent to VND110 trillion ($4.78 billion) from the beginning of the year, making up 82 per cent of its total gross loans. With 24 per cent market share, VIB has been the No.1 bank in the market for automobile loans for three years in a row. … [Read more...] about VIB secures $70 million loan from international finance institutions
Hanoi (VNA) - The Philippine Institute of Volcanology and Seismology (Phivolcs) on July 6 raised the alert level for Bulusan volcano to 1, saying the volcano located in the southeast of Manila "is currently in an abnormal condition." In a bulletin, the institute said it recorded a total of 53 volcanic earthquakes since July 3, including 43 "low-frequency events that are associated with weak and shallow hydrothermal or magmatic gas activity within the edifice." The institute further said that ground deformation data from continuous global position system (GPS) measurements also indicate short-term inflation of the edifice since late February. Phivolcs advised the villagers to stay away from the 4-km radius permanent danger zone (PDZ). The institute also urged the civil aviation authorities to warn pilots to avoid flying close to the volcano's summit as ash from any sudden phreatic eruption can be hazardous to aircraft. Bulusan volcano, situated in the province of Sorsogon in … [Read more...] about Philippines raises alert level for Bulusan volcano
The company reported to the Stock Exchange of Thailand that it entered into a share purchase agreement with Dien Xanh Gia Lai Investment Energy Joint Stock Co (DGI), the developer and operator of the two onshore wind farm projects, each with a capacity of 50 megawatts. … [Read more...] about Thai firm buys two wind power farms in Vietnam