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’Citi marks a first for US retail banking as it opens in Vietnam
Citigroup today becomes the first US financial institution to open a retail operation in Vietnam in the latest sign of western companies targeting consumers in the fast-growing Asian economy. The US bank will open a branch in Ho Chi Minh City to provide deposit services to individuals and remittance services for the Vietnamese diaspora,
Investors pull out of emerging markets
Is anywhere a safe haven these days? Even emerging markets – the ones that have supposedly decoupled from the global financial meltdown, etc – seem to be falling out of favour.
The latest data from EPFR show that investors pulled $4.3bn out of emerging market equity funds this week including the “previously bomb-proof”
Qatar & Vietnam ditch the dollar
Announcements on Thursday from the Qatari and Vietnamese governments that they are rapidly divesting in dollar denominated securities will not come as good news to the US government. Overseas investors hold half of America’s $4,400bn of marketable government debt,
Morgan Stanley unveils Vietnam venture
Morgan Stanley has stolen a march on its rivals by forming a securities joint venture with Vietnam’s leading state investment agency as part of its emerging markets growth strategy, reports the FT.
In the first partnership of its kind in the communist-ruled country,
Vietnam dairy is first to try overseas listing
Vietnam’s biggest dairy products company is set to become the first company from the country to list overseas by floating 5 per cent of its shares on the Singapore stock exchange by the end of the year.
Stock market mania grips Vietnam’s middle classes
“In Vietnam, the stock market is changing day by day,” Nguyen Dung, a manager at a foreign-run hotel and part-time MBA student who had never owned shares until recently, told the FT. “If anyone has the correct information,