Banking and finance

Renewable energy in Viet Nam is expected to grow at 23 per cent annually during 2020-30.- VNA/VNS PhotoDDai Hai Power Investment and Development SJC to fund its VND1 trillion Srepok Solar 1, which has a designed output of 50MW. Vietcombank has recently approved a VND785 billion (US$33.55 million) loan for the BP Solar 1 project, which has total investment capital of VND1.2 trillion with designed output of 46MW in the south central coast province of Ninh Thuan. The bank last month also signed a contract with the Dai Hai Power Investment and Development SJC to fund its VND1 trillion Srepok Solar 1, which has a designed output of 50MW. Another bank – HDBank – has so far also planned to set aside up to VND7 trillion for the construction of green energy projects from now to 2020. Under HDBank’s plans, it will lend to projects which were approved by the Government and reach their commercial operation date before June 30, 2019. To qualify for the bank’s loans, … [Read more...] about Banks race to fund green energy projects

HCMC Vietnam’s so-called coffee king appeals divorce case The Saigon Times Daily Thursday,  Apr 11, 2019,13:18 (GMT+7) Vietnam’s so-called coffee king appeals divorce caseThe Saigon Times Daily Dang Le Nguyen Vu and Le Hoang Diep Thao are seen in this combination photo – PHOTO: VIETNAM FINANCE HCMC – Dang Le Nguyen Vu, 48, founding chairman and general director of Vietnamese coffee giant Trung Nguyen Group, and his ex-wife Le Hoang Diep Thao, 46, have appealed their high-profile divorce case. The HCMC People’s Court told the local media on Wednesday that Thao is seeking to overturn the entire verdict as she wants to be reunited with Vu, often referred to as the coffee king. She also disagrees with the court’s decision to split the couple’s shared assets in Trung Nguyen 60:40 in Vu’s favor and give him the rights to manage the group. Meanwhile, Vu appealed against the … [Read more...] about Vietnam’s so-called coffee king appeals divorce case

Thai Minister of Finance Uttama Savanayana (Source: Bangkok Post) Bangkok (VNA) - The Thai cabinet has approved an additional stimulus package valued at 5.8 billion baht (191 million USD) with a hope of boosting the economy to close to the country’s target of 3 percent. The package announced includes a 2 billion baht consumption promotion programme, reduction of real estate transfer fees worth 2.6 billion baht and low-interest loans from the Government Housing Bank, valued at 1.2 billion baht, said Finance Minister Uttama Savanayana. The additional package comes months after the government rolled out a 316 billion baht stimulus programme. Thailand's economy had its weakest annual growth rate in four years, expanding 2.3 percent in the second quarter, as exports have declined amid rising trade tensions and a strong baht./. VNA … [Read more...] about Thailand takes additional economic stimulus package