Vietnam plus

Many banks set high profit targets this year. (Photo: Vietnam Plus) Hanoi (VNA) - Many banks have set high profit ambitions for this year due to rising credit demand and the grand march of continued economic recovery. Vietnam’s gross domestic product (GDP) in the first quarter of this year increased 5.03% year-on-year, higher than the 4.72 percent growth rate in the same period last year. As of March 21, credit growth had risen by more than 4%, 2.7 times higher than at the same time last year. In the recently published 2021 annual report, the management board of the Military Commercial Joint Stock Bank (MB) said that in 2022, the bank aims to increase total assets by 15% compared to the previous year and charter capital by 19.4%. Notably, it targets 20.3 trillion VND (869 million USD) in pre-tax profit this year, up 23% year-on-year. At the recent meeting of shareholders, the Vietnam International Commercial Joint Stock Bank (VIB) approved a plan with an expected profit … [Read more...] about Banks to book impressive profits for 2022 as economy recovers

Thai Finance Minister Arkhom Termpittayapaisith (Photo: The Nation) Bangkok (VNA) - The Ministry of Finance will hold talks with the Bank of Thailand to discuss and delve into the factors behind the weakening baht, Minister of Finance Arkhom Termpittayapaisith has said. Arkhom said the depreciating currency has added to inflationary pressures thus necessitating an examination into whether the declining value of the baht is linked to the country's economic fundamentals or external factors including the fast-strengthening greenback, the Bangkok Post reported. The Bank of Thailand is in charge of monetary policy and there is not much the ministry can do to intervene, so the planned talk will be a joint analysis to see whether the baht is depreciating too fast and how its decline in value is affecting the economy, businesses and consumers, he added. He said the government has introduced a raft of measures to alleviate the impact of high energy prices to help businesses … [Read more...] about Thailand worries about weakening baht

Nguyen Thai Hiep, who acted suspiciously while carrying the suitcase on Chu Van An Street in Binh Thanh District on Friday, was stopped by police. When inspecting his suitcase, authorities found 42 new iPhone 14s with original labels in foreign languages and no sub-labels in Vietnamese. He also failed to show the necessary papers to prove their origin. Authorities suspect him of smuggling the iPhones 14s, which were seized to aid the investigation. Earlier, many Vietnamese flocked to Singapore and Thailand, queuing in front of Apple Stores to buy the new iPhones. In Vietnam, iPhone 14 and iPhone 14 Plus can be ordered via some Apple's official distribution channels at the price of VND24.99 million ($1,054) and VND27.99 million, respectively, for the 128GB version. … [Read more...] about Saigon man suspected of smuggling 42 iPhones 14