Proliferation of new banks raises eyebrows (10-01-2008) Ocean Bank staff assist customers. The State Bank has tentatively approved the creation of five more commercial banks. — VNA/VNS Photo Tran Viet HA NOI — The State Bank of Viet Nam has annouced plans to grant licences to five new commercial banks this year, increasing the total number of newly-established banks in the past year to nine, an alarming trend, say some analysts, in a market already filled with 60 banking and financial institutions. "The central bank plans to submit documents to the Prime Minister to seek direction about the process of granting licences to new banks in the future," State Bank governor Nguyen Van Giau said at a press conference in Ha Noi on Tuesday. "Establishing more banks is an objective trend, but we need to consider the real demand." The newly licensed banks include the Energy Commercial Bank, Asia Foreign Trade Commercial Bank, Bao Tin Commercial Bank, and Indochina Commercial … [Read more...] about Proliferation of new banks raises eyebrows
Battle of new market
Fierce battle in the market segment for cheap smartphones
VietNamNet Bridge – Oppo and Samsung are dominating the cheap smartphone segment (priced less than VND4 million or $180), which previously belonged to Nokia and other big names. While the high-end segment is a race between Samsung and Apple, the low price segment is becoming increasingly more intense. For products under VND4 million ($180), smartphones are increasingly abundant, gradually replacing basic cell phones, with the appearance of new names, threatening the balance for years. IDC report shows that in the second quarter of 2015, 51% of phones sold in Vietnam are smartphones, equivalent to about 3.3 million units worth $607 million. According to statistics of FPT Shop, one of the biggest cell phone distributors in Vietnam, last year the proportion of basic phones and smartphones sold at its chain stores was 4: 6. Up to 7 out of 10 phones of the best-selling models are those priced VND3 - VND6 million ($140-$280). In just over two years, a series of brands entered this … [Read more...] about Fierce battle in the market segment for cheap smartphones
Nigeria opens long-awaited battle of ideas against Boko Haram
In classrooms facing a sandy courtyard in the northern Nigerian city of Kaduna, Maska Road Islamic School teaches a creed that condemns the violent ideology of groups like Boko Haram. Not everyone has got its message. Umar Farouk Abdulmutallab, known as the "Pants Bomber", spent his youth in this school - and ended up trying unsuccessfully to blow up a U.S. airliner on Christmas Day 2009 with explosives hidden in his underwear. But the school is steadfast in preaching tolerance to its pupils, and the government is about to adopt this message in a new strategy for containing Boko Haram, which has killed thousands in a five-year campaign for an Islamic state. "We teach them that what they (Boko Haram) are doing is a total misunderstanding of the Islamic religion, that Prophet Mohammed was compassionate, he even lived together with the non-Muslims in Medina," said headmaster Sulaiman Saiki. "We teach them tolerance," he told Reuters as girls in the next room softly recited Koranic verses … [Read more...] about Nigeria opens long-awaited battle of ideas against Boko Haram
Brocade industry in need of new approach
Last week, Viet Nam News asked its readers to share their thoughts about brocade products in Viet Nam and the best ways to preserve and develop the craft with the tourism industry. Here are some responses: John MacDonald, Australian, Ha Noi Next week: For expat parents who first arrive in Viet Nam, one of their biggest concerns has to do with finding the right schools/kindergarten/pre-schools for their children. The task can be difficult, considering the number of international schools popping up in Ha Noi and HCM City in recent years. Since July 2010, international schools in Viet Nam have been regulated by both the Education Law and Investment Law, meaning international schools have to meet requirements under the Education Law before being granted licences for operation. Other than that, little has been done to regulate the quality of international schools. Some have been opened merely for profit. As the new school year is approaching, we want to know whether you have had … [Read more...] about Brocade industry in need of new approach
Coca-Pepsi: the decisive battle on Vietnamese market continues
VietNamNet Bridge – Pepsi once witnessed the prosperous development in Vietnam with the advantage of the pioneer on the market. However, this does not mean that it has successfully dislodged Coca from its position in Vietnam.The pioneer In early 1990s, when Vietnam began its market, there was nearly no famous soft drink brand except Tribeco and some small brands which had been existing prior to 1975. It was really the ideal time for Pepsi to conquer the Vietnamese market and immediately dominated the market, from the south to the north. At that time, all Vietnamese small soft drink brands quickly disappeared from the market just after Pepsi carried out sale-off campaigns. With the too low prices, plus the fame of “the leading soft drink manufacturer in the world,” Pepsi defeated all Vietnamese rivals just after a short time. Tribeco, a joint venture between a Vietnamese company and a German partner, had to stop making soft drink and has shifted to make soyabean … [Read more...] about Coca-Pepsi: the decisive battle on Vietnamese market continues