HCMC Securities Corporation (HSC) reported VNĐ325 billion (US$14 million) in pre-tax profit in the first quarter of this year, a year-on-year increase of 250 per cent. Sài Gòn Securities Joint Stock Company (SSI) reported VNĐ492.2 billion in pre-tax profit, up 46 per cent. Analysts pointed to the stock market’s tremendous performance in terms of both liquidity and prices since late last year for this. By early April the benchmark VN-Index was up at a record high of 1,204.33 points. The second reason was the launch of derivative products in the third quarter of last year. Derivatives enabled investors to hedge their portfolios, and securities companies laughed all the way to the bank. Since its launch last August the volume on the derivatives market rose almost 10 times to 563,500 contracts worth VNĐ61.9 trillion last April. Although the market has tanked since early April the country’s three bourses saw trading worth VNĐ270 trillion in … [Read more...] about Proprietary trading benefits securities companies
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The Chinese policy to limit South Korean businesses may be the main reason behind Korea-based CJ Group’s heavy expansion in Vietnam. Entering a co-operation with local restaurant chain Golden Gate is the latest step in this expansion. CJ Group has repeatedly expanded its business in Vietnam over the past few year. Photo: brandsvietnam.vn On June 20 CJ Group via CJ Fressway officially announced the plan to co-operate with domestic restaurant chain Golden Gate Trade & Service JSC to expand the scale of its food business in Vietnam. Expanding the business in Vietnam Over the past few years, CJ Group has many times raised its ownership in local food firms. For instance, the Korean firms raised its ownership rate in Cau Tre from 51.6 to 71.4 per cent and its subsidiary CJ Cheiljedand Corporation last year bought 64.9 per cent of Minh Dat Food's capital. In 2016, the Korean firm also bought 4.18 per cent of Vissan JSC’s stocks. Last year, its food distribution … [Read more...] about Chinese sanctions may be pushing CJ Group’s expansion in Vietnam
The conference aimed to creat a chance to update Vietnamese businesses on the economic and foreign trade situation of Cuba in its renovation period and to seek new partnerships. VCCI Vice Director Doan Duy Khuong said that Vietnam and Cuba are enjoying growing traditional trade ties, with many economic and trade deals, including the agreement on trade exchange and other economic cooperation in 1996; the agreement on investment encouragement and protection in 1995; the deal on tourism cooperation in 1999; the agreement on cooperation in quarantine and plant protection in 1999; the agreement on avoidance of double taxation and prevention of fiscal evasion for income taxes in 2002. However, the result has yet to match their economic potential, he said, noting that last year, two-way trade reached only 235 million USD. Vietnam exported foodstuffs, footwear, ceramics, construction material, coal, apparel and chemicals, while importing a number of new medicines and functional foods from … [Read more...] about Vietnam businesses updated on Cuban economic and foreign trade situation – News – Investment
Angela Gittens, director general of the global airport trade group, said she did not want external checkpoints, which are being debated as a way to deter attacks on airports, to become part of a proposed global security standard for public areas because the additional lineup could create a new target. The U.N.'s International Civil Aviation Organisation (ICAO) last week discussed creating a new standard that could push countries to come up with security rules for public sections of airports. Security in these so-called landside areas is run by a patchwork of local and state authorities, depending on the country. "Most airports were not built to have people congregate at doors," Gittens said in her first interview on the proposed standard. "And every time you stop people, you're interfering with what airports were supposed to be doing. You're trapping people in a line where if something did happen these people would not be able to scatter." Montreal-based ICAO sets standards that its … [Read more...] about Global airport trade group opposes new checkpoints after attacks
U.S. President Donald Trump's decision to back out of the Trans-Pacific Partnership (TPP) trade deal, a $62 billion market for U.S. farmers, provides a fresh threat to a slumping agricultural economy that has grown increasingly dependent on exports. Agricultural groups expressed disappointment over the move and urged the new administration to find alternative ways to boost product shipments to Vietnam and other Asian countries. Trump announced the cancellation on Monday, quickly fulfilling a campaign promise. Trump won nearly two-thirds of the rural vote in November, with big agricultural states including Iowa, Nebraska, Ohio and Indiana all lining up for the Republican. The TPP, which was never approved by Congress, was a 12-nation trade pact which the Obama administration framed as way for the U.S. to establish economic leadership in the region. But Trump, who wants to boost manufacturing, claimed the deal hurt the U.S. job market. "The TPP held great promise for us, and has … [Read more...] about Trump’s trade deal withdrawal: Will it hurt US farm products in Vietnam?