Category: Vietnam

Singapore’s GIC Said to Hit Government Snag in Vietnam Deal

Singapore sovereign fund GIC Pte has hit a snag as it seeks government approval for its planned investment in Bank for Foreign Trade of Vietnam JSC, the nation’s biggest lender by market value, people with knowledge of the matter said. The deal, originally expected to be completed by the end of 2016, hasn’t yet been approved by Vietnamese authorities, according to the people.

Vietnam’s Premier to Raise Foreign-Investor Caps on Banks

Vietnam will increase the limits of foreign ownership in banks as early as this year to quicken the overhaul of the nation’s banking system and further lure overseas investments to boost economic growth, Prime Minister Nguyen Xuan Phuc said. “We will raise the ceiling and will also expand access to the securities market” for foreign investors, Phuc said in an interview with Bloomberg Television’s Haslinda Amin at the Government Office in Hanoi on Friday.

VietJet Forecasts 30% Profit Rise Ahead of February Listing

VietJet Aviation Joint Stock Co., the Vietnam carrier known for its bikini-clad flight attendants, expects profit to surge 30 percent this year on rising passengers as it prepares for its Ho Chi Minh City Stock Exchange listing debut in February. A total of 23 overseas investors bought 66.5 million shares — equivalent to about 14 percent of VietJet — during a pre-listing stake sale last month, billionaire founder Nguyen Thi Phuong Thao said.

Walgreens, Rite Aid shed 865 stores to close $9.4B deal

Walgreens and Rite Aid will sell 865 stores to rival retailer Fred’s for $950 million, possibly removing the final roadblock preventing the tie up between the nation’s largest and third-largest drugstore chains. Wall Street certainly saw it that way, sending shares of Rite Aid up nearly 6 percent before the opening bell Tuesday.