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Image : Asian shares mostly lower amid Brexit worries, Takata falls

Asian shares mostly lower amid Brexit worries, Takata falls

person Orange Themes access_time Jan 16,2017

Yahoo News TOKYO (AP) — Asian shares were mostly lower Monday morning amid worries about Britain's exit from the European Union, and Takata stock dropped in Tokyo after the air bag maker agreed to a guilty plea in the U.S. over massive recalls.

Image : China's Sinochem boss dismisses 'crazy' Trump polices

China's Sinochem boss dismisses 'crazy' Trump polices

person Orange Themes access_time Nov 19,2016

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Image : Fake US election news outshone real on Facebook: report

Fake US election news outshone real on Facebook: report

person Orange Themes access_time Nov 17,2016

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Japanese, Vietnamese cooperation in finance, banking a successful marriage

access_time Mar 06,2017 chat_bubble_outline 45 views
Japanese enterprises in banking and finance are now the biggest foreign shareholders in Vietnamese banks, financial and financial leasing companies, and their Vietnamese partners highly regard their expertise and support.

Japanese M&A on the rise

Japanese, Vietnamese cooperation in finance, banking a successful marriage

Recently, Sumitomo Mitsui Trust Bank (SMTB)—the largest trust bank in Japan with total assets of $585.4 billion—has bought 49 per cent of BIDV Financial Leasing Company and renamed it BIDV-SuMi TRUST Leasing Limited Company. The joint venture took place as an expansion of their strategic cooperation since 2013.
According to a VIR source, another investor from Japan is negotiating to buy 49 per cent of VPBank Finance Company Limited (FE Credit). These two examples evidence Japanese investors’ attention on the Vietnamese financial market and Vietnamese banks’ interest in cooperating with them. 
Previously, Military Bank (MB) transferred 49 per cent of Mcredit Consumer Finance Company’s shares to Shinsei Bank and HDBank transferred 49 per cent of HDFinance’s shares to Credit Saison Co., Ltd. Le Huu Duc, chairman of MB’s board of directors, said the reason for the cooperation was that Japanese investors “have the advantage of modern technology and experience in consumer finance.”
Because of the interest from Japanese investors and their strong finances, there are more cooperation deals in the making. 

Currently, numerous banks and financial companies in Vietnam, including giants like BIDV and soon maybe Agribank, are calling for investment from strategic foreign investors.

Increasing cooperation with Japanese investors

Besides transferring shares, a range of big Vietnamese banks also cooperate with Japanese banks to look for business opportunities as Japanese FDI is increasing.
At the end of February 2017, BIDV signed a memorandum of understanding (MoU) on serving Japanese customers in Vietnam with Fukuoka Bank, the 16th biggest bank in Japan. 

Similarly, VietinBank and Vietcombank also signed dozens of MoUs with Japanese partners. In particular, Vietcombank signed with approximately 60 Japanese banks.
Following the trend, other commercial banks also seek Japanese partners and have even established a new service called Japan Desk to support clients form Japan. 

Besides VietinBank, Vietcombank, and BIDV, Sacombank, HDBank, TPBank, and others offer this service.
“There are more and more Japanese firms entering the Vietnamese market. The two countries have similar cultures and retail banking strategies, so the cooperation can promote both parties’ strengths and often results in high efficiency,” said a leader of Sacombank.
Japanese clients require perfect and diversified services, while capital and the range of services in Vietnam is limited. 

One can expect an increasing trend of teaming up among Japanese and Vietnamese banks in the coming time. This will be beneficial for all parties.


Sudan seizes print-runs of four newspapers amid protests

KHARTOUM (Reuters) - Sudanese authorities seized the print-runs of four daily newspapers on Tuesday, staff said, a move one editor called a crackdown on coverage of anti-austerity protests.Officers moved in to stop the distribution of Al-Tayar, Aljareeda, Al Ayam and Al-Youm Al-tali newspapers, workers told Reuters."The likely reason is the newspaper's coverage of the calls for civil disobedience," Al-Tayar's editor-in-chief, Osman Mirghani, said.Protests erupted earlier this month after Sudan… chat_bubble_outline Read More...

Modi, Putin sign defence deals ahead of BRICS

Benaulim (India) (AFP) - Indian Prime Minister Narendra Modi and Russian President Vladimir Putin signed multi-billion dollar energy and defence pacts on Saturday following talks aimed at reinvigorating ties between the traditional allies.Modi hailed Putin as an "old friend" after their meeting in the Indian state of Goa, where leaders of the other BRICS emerging nations were also gathering for a summit."Your leadership has provided stability and substance to our strategic partnership," Modi… chat_bubble_outline Read More...

Buffalo Tours unveils Master Class range to travellers

Buffalo Tours has announced the launch of its exciting product range, Master Class. This line of tours is unique in connecting travellers with special life - learning opportunities in Asia, and is perfect for groups, FIT or events. Each Master Class experience offers access to exclusive locations and meets some of Asia’s most inspiring people. Through interaction with a local “master” rather than a tour guide, travellers will explore and learn Asian cuisine, history, arts and culture in a way… chat_bubble_outline Read More...

VND1.23 quadrillion supplied for economy in 2016

Total capital for the economy in 2016 was some VND1.23 quadrillion, almost meeting the capital demands of the economy, the National Financial Supervisory Committee estimated. The total capital is equal to 181.2 per cent of the country’s gross domestic product (GDP).Of the total, 68.1 per cent came from the banking system, while the rest was from the securities and bond markets.The committee attributed the good capital source to the abundant liquidity at commercial banks, which helped increase… chat_bubble_outline Read More...

India's Olympic body seeks to clarify contentious awards

NEW DELHI (AP) — Already threatened with being suspended and stripped of its government funding, the Indian Olympic Association has sought to clarify its position regarding plans to appoint two tainted former officials as honorary life-time presidents.A spokesman said IOA president N. Ramachandran wrote a letter to the sports minister on Monday to explain.India's sports ministry had earlier said government recognition of the IOA would be revoked unless the honorary positions for Suresh Kalmadi… chat_bubble_outline Read More...

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