Rescuers search for the victims at the site of the accident ((Photo: AFP) Jakarta (VNA) – Indonesian police on January 15 initially affirmed that the collapse ofthe Jakarta stock market building was not the result of an explosion.At least 75 people were injured when a mezzanine floor of the Indonesia StockExchange in Jakarta collapsed earlier the same day.Indonesian authorities have sped up investigation to find out reasons behindthe collapse. National policespokesman Inspector General Setyo Wasisto disclosed that police investigatorswould investigate blueprint of the building after the incident. Every building hasits own blueprint, so there must be information stipulating how long a buildingwill remain strong, he said at the police headquarters.The spokesmanensured that the cause of the incident is not an explosion.Images aired on television and circulated on social media showed a concrete andmetal structure that had collapsed around a Starbucks cafe near the entrance tothe lobby of the building.All victims weretaken to local hospital, and investigations are underway, police said.The high-rise building, constructed in the late 1990s, is part of a two-towercomplex also housing offices of the World Bank and the International FinanceCorporation. It was the target of a car bombing by Islamist militants inSeptember 2000.-VNA
The Vietnam Association of Financial Investors (VAFI) has sent a document giving input and comments on the draft guide for the organisation and activities of fund management companies, stock investment funds and securities companies’ to the Ministry of Finance, the Governmental Office and the State Securities Commission. The main content of the document airs concerns about the Vietnamese stock market. Some articles in the draftThe State Securities Commission recently stated that with the existing mechanism, it was difficult to get information about foreign investors so it was necessary to develop a new mechanism to control foreign indirect investment (FII)…... [read more]
Vietnam's securities markets, small and weak as they are, have played little to no role in helping local companies raise money, leading to the heavy reliance on bank loans, experts say. Professor Nguyen Van Thuan of the Ho Chi Minh City Open University's Finance and Banking Department said the corporate bond market has not fully developed yet, and has very few rules to protect investors. As a result, many people are still cautious about investing in bonds. Trinh Hoai Giang, vice chairman of the Vietnam Bond Market Association, agreed that the legal environment for corporate bonds is still incomplete. There…... [read more]
VIR put together a brief recap of the ten most noteworthy “ups-and-downs” of the Vietnamese stock market over the course of 2017, from the launching of a brand new market to unprecedented criminal prosecutions and billion-dollar state divestitures. 1. Government kick-started the derivatives market On August 10, at Hanoi Stock Exchange (HNX), the Ministry of Finance (MoF) launched the opening of the derivatives market, indicating the first of many steps to promote the structural development of the Vietnamese securities market. Consequently, Vietnam was the fifth nation within the ASEAN to acknowledge the derivatives market, alongside Singapore, Malaysia, Indonesia, and Thailand. The country was the…... [read more]
Two people were killed and six others injured when a two-storey old house suddenly collapsed at12.45am on September 22 at 107 Tran Hung Dao street in Hanoi. According to the People's Committee of Hoan Kiem District, the building was built in 1905 and now is used as an office of the Vietnam Railways Administration Hundreds of military officers were mobilised to search and rescue the victims An ambulance took the victims to hospital Deputy Minister of Construction Le Quang Hung inspected the collapse site Colonel Nguyen Van Quyen from Hanoi's Police said that the 110-year-old building collapsed due to its…... [read more]
Frankfurt's DAX 30 index and the Paris CAC 40 both shed 0.7 per cent as the euro gained against the dollar.Leading indices in the single-currency area had risen by around 1.5 per cent on Monday as US President Donald Trump's tax-cutting plans moved a step closer.On Tuesday in Germany, Europe's top economy, the Ifo economic institute revealed that its business climate index hit 117.2 points in December, slightly below November's historic 117.5.It comes as Germany remains mired in a political stalemate, with Chancellor Angela Merkel still trying to form a new government after coalition talks collapsed last month.Outside the eurozone,…... [read more]
