Workers sort ballpoint pens at a Thiên Long Production and Trading Co Ltd factory. — VNA/VNS Photo Danh Lam HÀ NỘI — A fifth of all Vietnamese enterprises do not have access to financial loans, according to the Việt Nam Chamber of Commerce and Industry (VCCI). Capital is a vital resource for a business to develop. Most local enterprises now have very high demand for capital funding in the short-, medium- and long-term, VCCI reported in a meeting on Friday. Credit lending granted by financial institutions is an important channel, VCCI said. To help local companies approach those sources, the Government, ministries, related agencies and lenders must work on a comprehensive joint policy. But due to the low quality of corporate governance and poor financial management, a large number of Vietnamese firms, mostly small- and medium-sized enterprises (SMEs), have not succeeded in winning loans from banks and financial … [Read more...] about Bank loans not accessible for 20% of VN firms
Non bank lenders business loans
JC Reindl Detroit Free Press Published 6:00 AM EDT Apr 10, 2019 Detroit-based Quicken Loans is enjoying strong profits and holds the title as the nation's No. 1 direct-to-consumer mortgage lender. It is one of the city's largest employers and the biggest revenue-generator in the business empire of Dan Gilbert, the central figure in downtown Detroit's recent and dramatic turnaround. Yet in the eyes of the Wall Street credit rating agencies, Quicken Loans is still viewed as a relatively risky business and its debt is rated as below investment grade, or what is commonly called "junk" in the financial world. It's considered too dangerous for some investors such as some pension funds. For the rating agencies, a fundamental issue is not how well Quicken is managed, but rather the nature of its business as a non-bank mortgage lender that is … [Read more...] about Dan Gilbert defends Quicken Loans over ‘junk’ bond rating
Susan Tompor Detroit Free Press Published 6:00 AM EST Jan 27, 2019 A "Saturday Night Live" sketch in January generated plenty of laughs with a fake game show called "Millennial Millions" where twenty-somethings compete for prizes, such as a chance to pay off their big student loans. But employers are increasingly recognizing that $35,000 or more in student loan debt is a serious matter that is stressing out many workers. "We're finding that more and more employees are entering the workforce with more college debt," said Maria Darbonne, manager of savings plans for Fiat Chrysler Automobiles. "We know it's overwhelming." So as we enter 2019, expect to hear more about financial wellness — including finding ways to help debt-burdened employees recover from an increasingly common financial headache. One of the latest moves: Auburn Hills-based FCA US began partnering this year with CommonBond for Business to offer a way for salaried … [Read more...] about FCA employees get chance to pay down student loans
Azerbaijani investors eye Vietnamese marketAzerbaijani investors with strong financial capacity and professional performance are keen on landing investments in Vietnam, has said Anar Imanov, Azerbaijani Ambassador to Vietnam.In his remarks at a recent workshop themed “Meet Azerbaijan” in Hanoi, the Azerbaijani Ambassador highlighted Azerbaijani enterprises' advantage of plentiful capital and practical experience in implementing projects in Europe, adding that many are seeking investment opportunities in Vietnam.As one of the world’s leading crucial oil and gas producers and suppliers, Azerbaijan also has great potential to boost its bilateral cooperation with Vietnam in three key fields, including tourism, logistics, and agriculture. The diplomat cited a FAM tour jointly held by the Azerbaijan Embassy in Vietnam and Qatar Airways last year as a big effort to bolster tourism cooperation between the two countries.The FAM tour provided many Vietnamese tourism … [Read more...] about BUSINESS NEWS IN BRIEF 15/1
A report from the Hồ Chí Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans. — Photo vietnambiz.vn A report from the Hồ Chí Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans. The report named lenders such as Agribank, Military Bank, Sacombank, VP Bank and ACB as adjusting their rates upwards in the last two months. According to experts from the Ministry of Planning and Investment’s National Centre for Socio-economic Information and Forecast, inflation and exchange rates remain under control but are under great pressure, and so prudent monetary policies are needed to curb inflation, especially demand-pull inflation. They have … [Read more...] about Tight monetary policy: where can businesses find funds?