Tag: vietnam

After a four-year absence, Vietnam has priced a 10-year issue that fared well on its first day of trading compared with the early January issues from Indonesia and the Philippines. Cikarang Listrindo prices its high-yield bond at the end of an eventful week in the debt markets. Deals for Exim Bank of India and Vietnam are both expected to price in the ... HSBC spends $102 million to boost its stake in Vietnam’s largest insurance and financial services group to 18%. Respondents to a poll on our website believe China will provide the biggest returns among Asia’s major stockmarkets in 2010. The central bank raises interest rates to 8% and devalues its currency – moves needed to keep inflation in check and growth on target. On the back of a strong rally in its share price, property developer Vincom issues bonds that are convertible into equity at a 5% premium. HSBC Insurance plans to increase its shareholding in Bao Viet Holdings, Vietnam's largest insurance and financial services group, to 18%. Citi adds retail banking to its Vietnam franchise, allowing it to capture remittance flows and the growing private wealth business. The bank will target individuals and companies doing cross-border business in the Indochina region. Given that exports are sure to slow, so will foreign direct investment, and increasingly it looks like there will be a rise in non-performing loans. Hong Leong bank of Malaysia gets approval for a 100% foreign-owned commercial bank in Vietnam. RHB Capital's investment in Vietnam Securities Corporation receives approval. Citi discusses the outlook for microfinance at a conference in Hanoi. Vietnam's State Bank approves HSBC's application to become a wholly foreign-owned bank. The bank hires a new country executive in Vietnam and more analysts in Hong Kong. Indochina Capital promotes two senior staff, while VinaCapital woos a new director of treasury and fixed income. The government raises the price of gasoline by 31%, spooking the stockmarket and prompting economists to say inflation remains a problem. The bank hires Nguyen Hoang Son as head of trading for fixed income, currencies and commodities in Vietnam. The Australian lender will open four new retail outlets and has been granted in-principle approval to incorporate locally. The stockmarket is down and ratings agency Fitch has cut the country's sovereign rating from stable to negative – are we through with the bad news yet?