By Minh Son  May 21, 2019 | 12:50 pm GMT+7 Ninety percent of suspected money laundering transactions in Vietnam are related to the banking system. Photo by VnExpress/Anh Tu Ninety percent of suspected money laundering transactions in Vietnam are linked to the banking system, a new report says. The anti-money laundering department under the State Bank of Vietnam says that the laundering that is happening in the banking sector could be related to embezzlement by high-profile people, gambling and tax evasion. A central bank report says that criminals often use bank accounts of different people to receive illegal money and to conceal the origins of illegal incomes. There is also a high risk of money laundering happening in the real estate and unofficial remittance channels, the report says. Criminals often ask family members to acquire and transfer properties to launder money. These transactions could be made with cash or direct banking transfers without going … [Read more...] about Banks used to launder black money
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Mondelez Kinh Do strengthens business to total snacking company in VietnamBy Van Nam Stephane Gripon, Managing Director of Mondelez Kinh Do Viet Nam Mondelez Kinh Do has now completed the integration of Kinh Do and Mondelēz International. The confectionery products of this enterprise are offering delicious moments of joy combining delicious taste with world-class standards to gradually win the heart of consumers, not only in Vietnam but also across Asia. As a dynamic market in Asia, Vietnam is experiencing a period of good growth. The snack food industry, in particular, is said to have great potential for growth in the future as more and more young people with delicate tastes are looking for high-quality products and more convenience. In July 2015, Mondelēz International joined forces with the confectionery business of Kinh Do by buying 80% of it. In 2016, Mondelez Kinh Do Vietnam became 100% fully owned by Mondelēz International. Now, three years after the … [Read more...] about Mondelez Kinh Do strengthens business to total snacking company in Vietnam
Kyoei Steel is working hard to buy Vietnam Italy Steel (VIS) shares while VIS is operating at a loss, raising the question - what does the Japanese steel producer expect to gain from a loss-making firm? What does Kyoei hope to gain from loss-marking Vietnam Italy Steel? Most recently, Kyoei registered to purchase an additional two million shares of VIS. The transactions are expected to be carried out between July 19 and August 16, 2018. Once successful, Kyoei will increase its ownership in VIS to 70.42 per cent from the existing 67.7 per cent. In early July, Kyoei completed the purchase of another two million VIS shares via the put-through method to increase its stake in VIS to the current 67.7 per cent. Kyoei became the strategic partner of VIS in late 2017 after buying more than 14.7 million shares, or 20 per cent ownership, from previous shareholder of VIS – Thai Hung Company. In May 2018, the Japanese firm purchased another 33.2 million VIS shares from Thai … [Read more...] about What does Kyoei hope to gain from loss marking Vietnam Italy Steel?
Smart homes and smart cities do not need to be costlyBy Ngoc Tran Tan Kee Hau, Executive Director of Antik Technology – PHOTO: NGOC TRAN The Saigon Times had an interview with Tan Kee Hau, Executive Director of Antik Technology, a Slovak high tech company, on smart homes and smart cities. He was recently in HCMC for a new tech exhibition. The Saigon Times: What do you mean by smart homes? - Tan Kee Hau: In a smart home, today, you are able to control many home appliances using connected technology. Actually, you can also control them using TV to control. So, while you are sitting on the sofa watching TV, you can control your home appliances. If I am away from home, can I control those appliances via a smartphone? - It is possible. But you need the internet. Your smartphone needs to be connected to the internet. And you can control everything, even if you are 1,000, 10,000 kilometers away from home. Please give details. What are we controlling with your system? … [Read more...] about Smart homes and smart cities do not need to be costly
Do paper paintings to go on display in Hanoi One of Nguyen Huy An’s do paper paintings that will be exhibited at “Calculus Exercise #6/5” - PHOTO: COURTESY OF MANZI ART SPACE “Calculus Exercise #6/5” – an exhibition of paintings on do paper by contemporary artist Nguyen Huy An – will be opened at Manzi Art Space in Hanoi this Saturday. This is his second exhibition since “78 Rhythms” at Galerie Quynh in HCMC four years ago. Known for his quiet, powerful paintings, installations and performance pieces, Huy An’s practice is inclined towards a minimal way of expression by using dark materials sourced from everyday life in association with memories and personal experiences. In this exhibition, Huy An shows small, simple, serene and poetic paintings on do paper (a kind of paper made from the bark of the Rhamnoneuron balansae traditionally produced in many villages in Vietnam) portraying iconic rural sceneries alongside a … [Read more...] about Do paper paintings to go on display in Hanoi