A mother who is suffering from cancer has ignored her health and worked hard in order to raise two children in Phu Yen Province. Nhung and her children Truong Thi Nhung and her family are living in a small house in My Thanh Village. Nhung is suffering from choriocarcinoma, fast-growing cancer that occurs in a woman's uterus. She has to several radiotherapy sessions but she can't stay at home to rest since Nhung and her husband still have to work to treat their eldest son who is deaf, mute and has congenital heart disease. "After Bao was born, I and my husband spend more time at the hospitals than at home," Nhung said. "After borrowing money to treat Bao, we do any work we can in order to earn money. We tried everything but his condition hasn't changed." Their second son was slower than other children and then in April, Nhung was diagnosed with choriocarcinoma while her husband was diagnosed with severe helicobacter pylori infection. Each month, Nhung has to go to HCM City four … [Read more...] about Terminally-ill mother desperate to raise small children
How startups raise money
Experts can see high risks in using money from the state budget to increase the charter capital of state-owned banks. The State Bank of Vietnam (SBV), in its additional report on monetary policy management in 2018 and the first months of 2019, has proposed to amend the current laws to allow use of state’s money to raise the charter capital of state-owned banks, except zero-dong banks. The State Bank of Vietnam's headquarter Zero-dong banks are weak banks which have been forced to transfer to SBV under the central bank’s restructuring plan. Analysts said that raising banks’ chartered capital with state’s money is the last resort and will be ineffective. Vietnam needs to restrict spending in the context of a scanty budget, while the country needs money for investment. Cao Sy Kiem, former SBV Governor, said state-owned banks are holding large market share and most of them make high profit, thus bringing benefits to the state budget. Therefore, the investment in … [Read more...] about Should the state spend money to raise capital in state-owned banks?
The Vietnam Bank Association (VBA) has repeated its call for the Government to approve charter capital hikes at four major State-owned commercial banks, noting that the delay could adversely affect money supply for the economy. VietinBank employees are at work. The bank is in desperate need of a charter capital hike The credit supply of the four State banks – the Bank for Investment and Development of Vietnam (BIDV), the Vietnam Bank for Industry and Trade (VietinBank), the Vietnam Bank for Agriculture and Rural Development (Agribank) and the Bank for Foreign Trade of Vietnam (Vietcombank) – may not grow, possibly leading to declines in gross domestic product growth and tax revenue for the State, according to the VBA. Also, the capital adequacy ratio (CAR), an international standard that measures a bank’s risk of insolvency from excessive losses, may be violated, which would adversely affect the banks’ operations, international credit ratings and … [Read more...] about Vietnam Bank Association calls for raising charter capital at four major State banks
YOLA has trained 50,000 students in Ho Chi Minh City and Hanoi. Photo courtesy of YOLA. The startup, using a mixture of designed curriculum and an online content platform, has trained more than 50,000 students at its 16 campuses in Ho Chi Minh City and Hanoi. "By partnering with Kaizen Private Equity, one of Asia’s most active education investors, YOLA gains a partner whose vision of educational and social impact is aligned with ours, and we are excited to work together to continue to deliver on our mission of educating 500,000 students," Pham Anh Khoa, co-founder and CEO of YOLA, said. YOLA was founded in 2009 by a group of Vietnamese students returning from abroad. In 2016 it received funding of $4.9 million from Vietnamese private equity firm Mekong Capital. This is Kaizen’s first deal in Vietnam. It has previously invested in major education and tech companies in South Asia and Southeast Asia, including India’s learning app Toppr and education financing firm … [Read more...] about Vietnam English teaching school gets $10 mln from foreign investor
Analysts from Saigon Securities Inc said the interest rates on the inter-bank market had remained steady for rather long but have been on an upward trend since October. – Photo vietcombank.com.vn The State Bank of Viet Nam (SBV) withdrew a total VND18.87 trillion (nearly US$829 million) from the market in the week of November 26-31. That was the first week SBV net-withdrew money from the market after it had net-pumped a total VND856.65 trillion the previous three weeks to support liquidity in the banking system. The liquidity in the banking system is clearly not as abundant as it was earlier. Interest rates on bank loans were also up significantly, especially for short-term loans. Analysts from Saigon Securities Inc said the interest rates on the inter-bank market had remained steady for rather long but have been on an upward trend since October. Interest rates for overnight ranged from 4.7 per cent to 4.9 per cent in November and reached the five-year high of 4.96 per cent. … [Read more...] about Central bank props up banking sector liquidity