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Vietinbank becomes settlement unit in derivatives market
The Viet Nam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) has been made the exclusive financial institution to carry out settlements for derivatives trading transactions.
Clients complete their transactions at an office of Vietinbank.
At the co-operation agreement signing ceremony between the bank and Viet Nam Securities Depository on Monday, Vu Bang, chairman of the State Securities Commission, said selecting Vietinbank as the settlement unit for the derivatives market was the right move.
Vietinbank is a large financial institution in Viet Nam, known for a broad trading network, high ratio of financial security, positive creditability and high quality of IT human resources and facilities, Bang said.
Vietinbank’s subsidiaries such as Vietinbank Securities Company (VietinbankSc) and Vietinbank Fund Management Co Ltd will integrate deeper with the derivatives market as trading and clearing members, depending on the development progress of the market.
To further implement the strategic development plan for Viet Nam’s securities market in the 2011-20 period, the finance ministry asked the State Securities Commission, Viet Nam Securities Depository and Ha Noi Stock Exchange to develop and conduct the development plan for Viet Nam’s derivatives market.
The new market and products are expected to help Viet Nam’s securities market develop firmly, increase the scale and quality of the market, diversify products and services and gain access to international practices and standards.
EU enterprises optimistic about business prospects in Vietnam
EuroCham Communications and Marketing Manager Joaquim Torrinha said at a press meeting on February 21 that almost all European enterprises participating in the survey were satisfied with improvements to the investment environment in Vietnam. Approximately 56% of respondents answered that they will continue to use Vietnamese workers this year and will expand their scale, along with recruiting more workers. In addition, EU enterprises consider Vietnam the gateway through which to approach the… chat_bubble_outline Read More...
Expect the unexpected, say college disaster prep officials
When Jefferson Community College was making plans to build its first residence hall, there was one must-have for President Carole McCoy: generators for backup if the power went out.With her campus in Watertown, New York in the bulls-eye of more than 100 inches of snow each year, she knew students might get stuck. They wouldn't be cold and hungry."That was a non-negotiable," McCoy said.For college administrators, extreme weather is yet another hazard to prepare and practice for on a list that… chat_bubble_outline Read More...
Lisbon takes top title at World Travel Awards
Lisbon has been named Europe’s Leading Cruise Destination by the World Travel Awards. These accolades, announced at the Europe Gala Ceremony held in Sardinia, honour the quality of services and the facilities for cruise passengers available in the sunny Portuguese capital. Paula Oliveira, executive director of Turismo de Lisboa, said: “We are extremely proud to have received these two new awards for our city. “Not only do they recognise the diversity of the tourism facilities available for… chat_bubble_outline Read More...
Vietnam needs US$480 billion for economic restructuring
Vietnam needs a tremendous budget twice bigger than its annual gross domestic product (GDP) to restructure the economy in the next five years, said Minister of Planning and Investment Nguyen Chi Dung last week. Dung presented the 2016-2020 economic restructuring scheme to the second National Assembly (NA) sitting in Hanoi last week. He said to implement economic restructuring in the five-year period, the country needs over VND1,000 trillion, or some US$480 billion.The scheme stops short of… chat_bubble_outline Read More...
Focus of recount effort shifts to Michigan, Pennsylvania
Presidential candidate Jill Stein's fight to force ballot recounts in three states focuses Monday on Pennsylvania, where her Green Party is seeking an emergency federal court order for a statewide recount, and Michigan, where a federal judge has ordered a hand recount to begin by noon.The recount is underway in Wisconsin.President-elect Donald Trump narrowly defeated Democratic candidate Hillary Clinton in all three states. The recounts were not expected to change enough votes to overturn the… chat_bubble_outline Read More...