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Image : Philippine trade minister says Manila keeping economic ties with U.S.

Philippine trade minister says Manila keeping economic ties with U.S.

person Orange Themes access_time Oct 21,2016

The Philippines will maintain its trade and economic ties with the United States, Trade Minister Ramon Lopez said on Friday, a day after President Rodrigo Duterte announced his separation from Washington. In terms of economic, we are not stopping

Image : Japan withholds annual dues to UNESCO

Japan withholds annual dues to UNESCO

person Orange Themes access_time Oct 15,2016

TOKYO (AP) — Japan has withheld its annual UNESCO dues, saying it wants to make sure the U.N. body properly functions to foster trust among member nations.

Image : Texas officials refute 'vote-flipping' after Trump tweet

Texas officials refute 'vote-flipping' after Trump tweet

person Orange Themes access_time Oct 28,2016

AUSTIN, Texas (AP) — In his latest attempt to cast doubt on the election process, GOP presidential candidate Donald Trump raised suspicions Thursday about the voting machines in reliably Republican Texas despite producing no evidence of an actual

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Vietnam's central bank imposes more control on property loans

access_time May 30,2016 chat_bubble_outline 134 views
The Vietnamese central bank has adjusted restrictions on property loans to keep the real estate market from overheating.

The State Bank of Vietnam (SBV) said in its circular released on Friday that it will raise the risk weight of property loans at commercial banks to 200 percent from 150 percent. The new restriction will take effect on January 1, 2017.

In addition, the central bank has also set new restrictions on how banks use their funds. Accordingly, banks will be allowed to use no more than 60 percent of their short-term funds for medium- to long-term purposes including mortgages until the end of this year.

The ratio will then be adjusted to 50 percent in 2017 and 40 percent by 2018.

The central bank at first planned to hike up the risk weight of loans to property sector to 250 percent instead of 200 percent. Also in early draft, the rule that requires banks to use no more than 40 percent of their short-term funds to make medium and long-term loans was intended to take effect immediately, not until 2018.

The new rule is expected to prevent a property bubble by causing banks to curb real estate loans.

The property market gained steam last year as economic growth resulted in rising incomes and after the government allowed foreign buyers to own property for up to 100 years last July.

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Steve Johnson beats Stephane Robert in ASB Classic 1st round

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