Latest news with #StateTreasury
Business Recorder
09-07-2025
- Business
- Business Recorder
Vietnam raises $42.5mn in govt bond auction, lowest since March 26
HANOI: Vietnam's State Treasury raised 1.11 trillion dong ($42.5 million) in a weekly government bond auction on Wednesday, the lowest volume since March 26 and down from the $91.7 million raised last week. The uptake was also lower, with 11% of the bonds on offer sold, compared with 24% at last week's auction, according to a Hanoi Stock Exchange filing. The auction took total government bond sales so far this year to 193 trillion dong ($7.38 billion), according to exchange data. Vietnam uses the proceeds from bond sales mainly to fund its public investments, one of the key drivers of economic growth. It aims to raise 500 trillion dong this year. At Wednesday's auction, the treasury sold 611 billion dong out of 6 trillion dong of the 10-year bonds on offer, at a coupon of 3.21%. It also sold 500 billion dong out of 2 trillion dong of the 15-year bonds on offer, at a coupon of 3.35%. It failed to offload any of the 1 trillion dong of 5-year bonds or the 1 trillion dong of 30-year bonds. On the corporate side, Vietnamese companies have raised 258.7 trillion dong via bonds this year up to July 4, according to bond market association data. The value of corporate bonds maturing in the remainder of 2025 is 128 trillion dong, 54.2% of which are in the real estate sector and 25.9% in the banking sector, the data showed.
African Manager
01-07-2025
- Business
- African Manager
Inactive bank accounts: Funds to be transferred to public Treasury
Starting July 1, 2025, funds held in inactive bank accounts will be transferred to the State Treasury, in accordance with a provision included in the 2025 Finance Law. In this context, banking law expert Mohamed Nekhili explained on Express FM that Article 39 of the 2025 Finance Law stipulates that banks must transfer to the State Treasury all bank accounts that have been inactive for over 15 years, without exception. He clarified that any client whose account has had no financial activity for 15 years or more will see their funds transferred to the public treasury as of July 1, after all affected clients were notified before April 30, and their names published in the Official Gazette of the Republic of Tunisia (JORT). Clients were given the opportunity to visit their bank until June 30 to carry out at least one transaction to keep the account active. 'The account holder can simply deposit 10 dinars to preserve their funds,' he said. He added that if the client does not regularize their situation, the banks will proceed to transfer the account balance to the State Treasury.
Business Recorder
25-06-2025
- Business
- Business Recorder
Vietnam raises $532 million in government bond auction, highest since March 19
HANOI: Vietnam's State Treasury raised 13.9 trillion dong ($532 million) in a weekly government bond auction on Wednesday, the highest volume since March 19 and up from the $385 million raised last week. The uptake was lower, with 80% of the bonds on offer sold, compared with 84% at last week's auction, according to a Hanoi Stock Exchange filing. The auction took total government bond sales so far this year to 189.4 trillion dong ($7.25 billion), according to exchange data. Vietnam raises $322 million in government bond auction Vietnam uses the proceeds from bond sales mainly to fund its public investments, one of the key drivers of economic growth. It aims to raise 500 trillion dong this year. At Wednesday's auction, the treasury sold 3.8 trillion dong out of 4 trillion dong of the 5-year bonds on offer, at a coupon of 2.59%. It also sold 10.04 trillion dong out of 11 trillion dong of the 10-year bonds on offer, at a coupon of 3.18%. The coupons for the bonds were the highest this year. It failed to offload any of the 2 trillion dong of 15-year bonds, while managing to sell only 73 billion dong out of the 500 billion dong of 30-year bonds on offer at a coupon of 3.4%. On the corporate side, Vietnamese companies have raised 172 trillion dong via bonds this year up to June 20, according to bond market association data. The value of corporate bonds maturing in the remainder of 2025 is 143.3 trillion dong, 51.5% of which are in the real estate sector and 28.0% in the banking sector.
Finextra
09-06-2025
- Business
- Finextra
The huge-savings curse. Part II (e-invoicing): By Bo Harald
Like in e- and mobile banking the e-invoicing as an interconnecting-customers service was not started off as a good-for-society at large program – but for customer convenience. I still remember how customers complained that we had outsourced the keying in on ever-growing lengths of reference numbers and other payment data from branch and back-office staff to them. And then we charged a monthly fee for e-banking from the outset in the 80s (lifesaver for e-banking upgrade investments). The cost savings from not having to use time on travels to branches or mail invoices was not in the calculations. Direct debit never became – despite much pushing – a popular alternative. So – after some pondering in the mid-90s (sorry about the bragging) – we introduced e-invoicing where the payment proposal could be approved with one click in home- and SME-banking. It was also possible to make a standing order – that routine invoices where paid automatically – and also set €-limits for automated bill payments. Fine – but a huge eye-opener arrived when the State Treasury presented a calculation that cost savings for incoming invoices. Paper or PDF was estimated to cost 30€ (costs much higher in eg Electrolux and Nokia) and eInvoice 11€ giving a saving potential of150m€/year. The Municipal Association arrived at the same 150m€/year. On European level 21,6 bn€ tax payer's money could be saved. And this was only for purchase invoices -and in the pre-automation stage. The next target was to get down to an estimated 1€/invoice with full automation. Then the Finnish Federation of Industries came up with their own estimate for purchase invoices – 2,8 bn€/year… So a total 3bn equalling 220 EU-billions… Add to that time saved at home, CO2 effects, lower fraud rates, less grey economy effects and so many opportunities to automate all sorts of processes with rich structured data. Made us feel really important and the EU commission invited me to become chairman for the EU Expert Group and eInvoicing. The first reactions here as well – it cannot be true! As if the savings would not be big enough… Slowish uptake during the first 5 years - even if banks had ready simple e-banking-integrated solutions for sending and receiving e-invoices (also as files). How could this be? Of course, a saving near 1% of turnover is small in a small enterprise. And accounting firms did not – oddly enough – start to promote e-invoicing properly. And the cost of old manual paper and PDF-practises was not shown – while e-invoicing operators naturally had to charge for their services. Invoice receivers should have used their rights and upfront have set deadlines for or at least charge for incoming papers and pictures. What did we learn? That these kinds of productivity leaps cannot wait for slowly fading change resistance. If enterprise organisations cannot drive the change with information about the big picture and demanding more and better digital – then it is up to the politicians. Even if some loud voters will not like it.
Business Recorder
23-04-2025
- Business
- Business Recorder
Vietnam raises $322 million in government bond auction
HANOI: Vietnam's State Treasury raised 8.36 trillion dong ($322 million) in a government bond auction on Wednesday, down from $446 million raised last week. The uptake was also lower, with 66.8% of the bonds on offer sold according to a Hanoi Stock Exchange filing, compared with 82.7% at last week's auction. The auction took total government bond sales so far this year to 130.8 trillion dong, according to exchange data. Vietnam uses proceeds from bond sales mainly to fund its public investments, among the key drivers of its economic growth. At Wednesday's auction, the treasury sold all of the 2 trillion dong of 5-year bonds and all of the 1 trillion dong of 15-year bonds offered, with coupons of 2.26% and 3.10%, respectively. Vietnam raises $323mn in govt bond auction, filing shows It also sold 5.3 trillion dong out of 9 trillion dong of 10-year bonds at a coupon of 3.03%, and just 52 billion dong out of 500 billion dong of 30-year bonds at a coupon of 3.28%. On the corporate side, Vietnamese companies have raised 41.6 trillion dong via bonds in the year to April 18, according to bond market association data. The value of corporate bonds maturing in the remainder of 2025 is 166 trillion dong, 53.5% of which are in the real estate sector and 24.2% for the banking sector, the data showed.
