Latest blog articles
First finance leasing joint venture licensed
The State Bank of Viet Nam has licensed for BIDV-SuMi TRUST Leasing Company, the first finance leasing joint venture between a local bank and a foreign financial institution in the country.
The State Bank of Việt Nam has licensed for BIDV-SuMi TRUST Leasing Company, the first finance leasing joint venture between a local bank and a foreign financial institution in the country.
This was stated by SBV on its website on Monday.
BIDV-SuMi TRUST Leasing Company has charter capital of VND895.6 billion (US$39.28 million). It will provide all products and services of a finance leasing company according to the current legal regulations.
BIDV-SuMi TRUST Leasing Company is the conversion of BIDV Financial Leasing Co (BLC) into a joint venture.
BLC was wholly owned by BIDV with charter capital of VND447.8 billion, and headquartered in HCM City.
The capital of the joint venture has been doubled to VND895.6 billion and the headquarters are in Ha Noi. BIDV holds 50 per cent stake, Sumitomo Mitsui 49 per cent and Sun Group 1 per cent.
BIDV said it has been in a strategic partnership with Sumitomo Mitsui since 2013.
The two sides reached an agreement on co-operation in finance leasing in April 2016, under which BIDV would sell 49 per cent of its finance leasing arm to the Japanese partner.
With the joint venture, BIDV would be able to roll out financial packages that meet diverse needs of customers for credit, insurance, finance leasing and securities.
Sumitomo Mitsui is Japan’s largest trust bank with total assets of nearly 59.5 trillion yen ($585.4 billion) and equity of some 2.02 trillion yen ($19.9 billion) up till September 30, 2016.
Pentagon says US airstrikes target al-Qaida in Afghanistan
WASHINGTON (AP) — The Defense Department says airstrikes in Afghanistan targeted two al-Qaida leaders, including one described by a Pentagon official as the group's top leader in the northeastern part of the country.Pentagon press secretary Peter Cook has issued a written statement saying U.S. officials are still working to determine whether the men targeted were killed.He has identified the two as Faruq al-Qatani and Bilal al-Utabi. He says they were targeted in strikes conducted Sunday.Cook… chat_bubble_outline Read More...
In the battle for Hollywood endorsements - and cash - Clinton rules
Read on the original site chat_bubble_outline Read More...
Enterprises honoured with “Vietnam Value 2016” title
Businesses urged to actively join global supply chains Addressing the event, Politburo member and Deputy Prime Minister Truong Hoa Binh affirmed that the significant achievements attained by “Vietnam Value” companies would provide a crucial foundation for the country’s economic development in years to come. He urged the honourees to pursue the values of quality, innovation, creativity and pioneering position so as to be worthy of the “Vietnam Value” title awarded by the State and Government, as… chat_bubble_outline Read More...
Romanian, German defense firms to produce military vehicles
BUCHAREST, Romania (AP) — German defense company Rheinmetall and Romania's Uzina Automecanica Moreni have signed an agreement to produce eight-wheeled armored military vehicles in Romania.The Romanian Military Vehicles Systems S.A. joint venture, launched Thursday, is split 50-50 between the two companies and will produce vehicles for Romania's Army.Romanian officials said it was important that a company with Rheinmetall's experience help upgrade Romania's defense hardware and create… chat_bubble_outline Read More...
Quang Nam fishing villages strive for ecotourism
Artists and local children painted a boatLocal authorities in Quang Nam Province's Tam Thanh Commune are cooperating with artists from Singapore in an ecotourism project which aims to introduce local life and culture to visitors.Many artists and local people have been joining in the project which includes painting work on some 60 round basket boats.According to local authorities, the boats were gathered by local fishermen who can also join in the painting featuring natural landscapes and daily… chat_bubble_outline Read More...