Corrections offer buying opportunity The market witnessed strong corrections on both exchanges last week because of heavy profit taking. However, analysts suggest that this is an opportunity for investors to buy shares while awaiting third-quarter business results. The benchmark VN-Index lost a cumulative 3.05 per cent during the week, closing Friday's session at 613.29 points. The slump of blue chips were the main drag as many of these shares lost value, especially on Friday, because of the portfolio restructuring of exchange-trade funds (ETF). Stocks removed or scaled down from ETF portfolios sold strongly, such as Development Investment Construction Co (DIG), Vietcombank (VCB) and Phu My Fertiliser (DPM), as well as Bao Viet Holdings (BVH) and VinGroup (VIC). The VN30, which tracks the top 30 shares by market value and liquidity, declined by 2.28 per cent to end the week at 654.54 points. Foreign investors also concluded the week as net sellers on the southern bourses and unloaded … [Read more...] about BUSINESS IN BRIEF 22/9
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Editor's note: Dr. Terry F. Buss is a fellow of the U.S. National Academy of Public Administration. He wrote this article exclusively for Tuoi Tre News to discuss the official race to the White House between the Republican and Democrat candidates. Editor's note: Dr. Terry F. Buss is a fellow of the U.S. National Academy of Public Administration. He wrote this article exclusively for Tuoi Tre News to discuss the official race to the White House between the Republican and Democrat candidates. The Republican and Democrat conventions set the stage for the Trump/Clinton 2016 presidential campaign. Candidates are the most flawed, disliked, and mistrusted. The election comes at a time of great stress economically, socially, culturally and globally, when presidential leadership is critical. Both parties are fragmented and dysfunctional, the political system is in gridlock, and there appears no possibility of consensus or even compromise. Who will win? The outsider versus establishment … [Read more...] about Who will win in Trump – Clinton face off?
The United States will deploy dozens of special operations troops to northern Syria from next month to advise opposition forces in their fight against Islamic State, a major policy shift for President Barack Obama and a step he has long resisted to avoid getting dragged into another war in the Middle East. The planned deployment, along with the U.S. decision this week to include Iran in diplomatic efforts to end the conflict, represents the biggest change in the United States' Syria policy since it began a bombing campaign against Islamic State targets there in September 2014. Announcing the measure on Friday, the White House said the troops would be on a mission to "train, advise and assist" and would number fewer than 50. Spokesman Josh Earnest declined to give details about their exact role. The decision by Obama, deeply averse to committing troops to unpopular wars in the Middle East, would mark the first sustained U.S. troop presence in Syria and raise the risk of American … [Read more...] about In policy shift, Obama to send U.S. special forces to Syria
On April 1, the city of Tikrit was liberated from the extremist group Islamic State. The Shi'ite-led central government and allied militias, after a month-long battle, had expelled the barbarous Sunni radicals. Then, some of the liberators took revenge. Near the charred, bullet-scarred government headquarters, two federal policemen flanked a suspected Islamic State fighter. Urged on by a furious mob, the two officers took out knives and repeatedly stabbed the man in the neck and slit his throat. The killing was witnessed by two Reuters correspondents. The incident is now under investigation, interior ministry spokesman Brigadier General Saad Maan told Reuters. Since its recapture two days ago, the Sunni city of Tikrit has been the scene of violence and looting. In addition to the killing of the extremist combatant, Reuters correspondents also saw a convoy of Shi'ite paramilitary fighters – the government's partners in liberating the city – drag a corpse through the streets … [Read more...] about After Iraqi forces take Tikrit, a wave of looting and lynching
Banks fear having no borrowers, despite cut rates Despite the recent cut imposed on lending interest rates, many banks still worry that there will not be many borrowers. With credit accounting for a large proportion of their total revenue, many banks are on the verge of having lower annual profits than last year, Saigon Tiep Thi newspaper reported. Vietcombank and Agribank are offering the lowest lending interest rate of only 14.5 percent a year, for borrowers operating in the agriculture and rural, and export sectors. The two major banks have set a new trend for other commercial banks such as ACB, VIB, and HDBank to cut their rates. However, despite the reduced interest rates, many bank executives still hold a negative outlook on the market. For instance, Nguyen Phuoc thanh, CEO of Vietcombank, said this year his bank set a credit growth target of only 15 percent, while the figure assigned by the State Bank of Vietnam is 17 percent. The main reason is that local … [Read more...] about BUSINESS IN BRIEF 29/2