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Image : Cummins back, Cartwright included in Australia's ODI squad

Cummins back, Cartwright included in Australia's ODI squad

person Orange Themes access_time Nov 23,2016

ADELAIDE, Australia (AP) — Paceman Pat Cummins is set to return and Zimbabwe-born allrounder Hilton Cartwright has been called into Australia's squad for three limited-overs internationals against New Zealand next month.

Image : French PM says 'possible' Le Pen could win in 2017

French PM says 'possible' Le Pen could win in 2017

person Orange Themes access_time Nov 17,2016

French Prime Minister Manuel Valls said on Thursday that far-right leader Marine Le Pen had a chance of winning next year's presidential election, boosted by the momentum of Donald Trump's shock win in the United States. "It's possible," Valls said

Image : AP Interview: Kaine already reaching out to GOP

AP Interview: Kaine already reaching out to GOP

person Orange Themes access_time Oct 23,2016

BOSTON (AP) — Tim Kaine is sounding a hopeful note that a Democratic White House could work with Republicans to bridge deep divides laid bare by this bitter presidential campaign.

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How should weak banks be restructured?

access_time Apr 19,2017 chat_bubble_outline 36 views
While the State Bank (SBV) has legalized the use of state money to support the restructuring of weak banks, it has not specified where the government will get the money to pump into the banks.

How should weak banks be restructured?

SBV is consulting with ministries and agencies on a draft law to support the reshuffling of credit institutions and settling bad debts. 
Phan Minh Ngoc, an economist, in an article published in a local newspaper, said that the provisions in the draft laws have legalized the use of the state budget for settling bad debts.
Article No 31 of the draft law says that weak banks taken over compulsorily may receive refinancing from the government to increase their charter capital, or may receive preferential loans at the interest rate of zero percent.
Nguyen Tri Hieu, a finance and banking expert, emphasized that after being taken over by SBV at zero dong, the banks must have their charter capital supplemented. 

Article No 31 of the draft law says that weak banks taken over compulsorily may receive refinancing from the government to increase their charter capital, or may receive preferential loans at the interest rate of zero percent.

In the case of the three banks which SBV bought at zero dong (Ocean Bank, CB Bank and GP Bank), their stockholder equity might have become ‘minus’’. 
Meanwhile, under the Law on Credit Institutions, one bank must have charter capital of VND3 trillion at minimum. So if the banks have ‘minus’ chartered capital, SBV, as the holding company and the only investor, will have to pour more capital into the banks to ensure the minimum charter capital.
However, Hieu commented, no one knows how much capital the three banks have. SBV assigned VietinBank and Vietcombank – the two commercial banks in which the state holds controlling stakes – to support the operation of three zero dong banks. 
However, VietinBank and Vietcombank can only help the three zero-dong banks by lending money, which the zero-dong banks use to pay to depositors or to relend to others.
Hieu believes that it would be better to skip the purchase of weak banks at zero dong.
After putting weak banks under special control, SBV’s inspectors will find out if the banks can recover. If ‘yes’, SBV will go directly to the final step – forcing the weak banks  to merge with other banks, or selling the weak banks to investors. If no one wants to take over the weak banks, they must go bankrupt. 
The central bank purchased weak banks two years ago at zero dong, avoiding a possible collapse of the banking system. However, Hieu doesn’t think the measure should be applied in the future. 


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Strong 5.6 magnitude earthquake rattles parts of Colombia

BOGOTA, Colombia (AP) — A shallow, 5.6-magnitude earthquake rattled residents of Colombia's largest city on Monday, leading office workers to evacuate buildings and forcing the city's airport to temporarily close.The earthquake struck shortly after 8 a.m. local time and was centered in the department of Huila, about 185 miles (300 kilometers) southwest of the capital. It had a depth of 23 miles (37 kilometers), according to the U.S. Geological Survey.There are no immediate reports of damage.It… chat_bubble_outline Read More...

Far-right protesters march in Berlin, demand that Merkel go

BERLIN (AP) — Hundreds of far-right protesters have marched through Berlin calling for Chancellor Angela Merkel to be removed from office.Police accompanied the protest through the German capital's former Jewish district, at one point forcibly removing a blockade staged by far-left counter-demonstrators.The protest began at the city's main train station, where speakers criticized the government's decision to allow large numbers of migrants into Germany. A crowd of up to 500 people chanted… chat_bubble_outline Read More...

Cummins set for latest comeback for Australia vs New Zealand

SYDNEY (AP) — The Chappell-Hadlee series is set for a fast start, with the expected return of Pat Cummins for Australia and a possible New Zealand debut for Lockie Ferguson keeping an emphasis on pace.Cummins has struggled with chronic back problems since bursting onto the international scene at 18 against South Africa in 2011, and hasn't played international cricket for 15 months.His latest return for Australia has generated plenty of interest in this three-match series, although he's unlikely… chat_bubble_outline Read More...

Commuters queue in the rain for a copy of The New Paper, relaunched as a freesheet

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Liberia asks UN to extend mission for another year

Monrovia (AFP) - Liberia's government has asked the United Nations to extend its peacekeeping mission in the west African country for another year, until the next president takes office."Liberia's Permanent Representative to the United Nations, Lewis Brown, on behalf of his Government, is proposing one year for the extension of the United Nation's Mission in Liberia (UNMIL)," the president's office said in a press release sent to AFP on Thursday.Liberians will be going to the polls next year to… chat_bubble_outline Read More...

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