CAN STOCKS KEEP MOMENTUMS?
The Vietnamese stock market strongly advanced and become one of the best performers in the world in August when the VN-Index added 10.4%. According to Viet Dragon Securities Corporation (VDSC), August momentum and expected fresh foreign cash flows can help the gauge surpass the 900-point threshold achieved in June and possibly reach 920 points in September 2020.
FINANCIAL INCLUSION STEERING COMMITTEE SET UP
According to the World Bank, financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs - transactions, payments, savings, credit and insurance - delivered in a responsible and sustainable way.
INTERNATIONAL CARD ORGANISATIONS CONTINUALLY URGED TO CUT FEES
The Viet Nam Banks Association is urging international credit and debit card companies to reduce a number of fees, as the country continues to battle the COVID-19 pandemic.
BANKS CONTINUE DEPOSIT RATE CUTS
A report from SSI Securities Corporation showed that last week, four major commercial banks with State holdings lowered their deposit rates by 30-40 basis points for tenors from six to less than 12 months, and kept the rates of long-term savings unchanged. Some other commercial banks reduced the rates of all tenors by some 20 basis points.
MINISTRY TO HALT MARKET TRADING IN EMERGENCY CASES
In a written response to the Viet Nam Financial Advisory Association, the Ministry of Finance said amid the prolonged COVID-19 pandemic and rising tensions between the world’s largest economies, global stock markets were becoming more vulnerable and sensitive to bad news.
CENTRAL BANK TO ADJUST MONETARY POLICIES TO WEATHER PANDEMIC
Under a recent directive, SBV Governor Lê Minh Hưng said the COVID-19 outbreak would continue to be unpredictable, which could push the global economy into a deeper recession and have a heavy impact on the Vietnamese economy due to its deep economic integration.
BANKS CUT HOME LOAN INTEREST RATES
Interest rates of home loans at commercial banks have tended to reduce significantly since the second half of July due to low capital demand from business and production.
ENTERPRISES ENTITLED TO 30% CORPORATE INCOME TAX CUT
The 30% CIT reduction is applied to all incomes that meet tax cut conditions specified in the resolution, not excluding incomes ineligible for incentives under the Law on Corporate Income Tax such as income from real estate transfer, capital transfer, mining income and income from services subject to special consumption tax.
