Word: deposit
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Dates: during 2000-2009
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...Multinational bankers are upbeat about their prospects because there is plenty of low-hanging fruit in this woefully underdeveloped market. Vietnam, which is modernizing parts of its communist economy through China-style free-market reforms, has no credit bureau and only a rudimentary system of deposit insurance. Consumer lending is nearly nonexistent. Banking has been dominated by five state-owned institutions-including the largest, the Agriculture and Rural Development Bank (Agribank)-which traditionally focused on financing large, government-owned factories and other enterprises. The country's burgeoning private businesses were virtually ignored. Because of these factors, "You have a pent...
...Indeed, deposits are currently growing at rates unheard of in more mature economies. Out of a total of 7 million bank accounts held by Vietnamese, 6 million were opened in just the past two years. Up to now, the biggest beneficiaries have been Vietnam's 34 small private banks such as Sacombank that, unlike the state-owned banks, are relatively unburdened by government directives aimed at managing the economy. Catering to individual depositors and small-business borrowers, private lenders have powered much of the industry's recent growth. Among their target customers are people like Nguyen Thi Tuyet. Four years...
...Governments and law enforcement agencies don't view the snakehead's activities so favorably. Illegal immigrants have little recourse should the snakehead make off with their deposit, and are vulnerable to Dickensian conditions in the places where they must work long hours to pay off their debt. Knowing the snakehead or his family personally diminishes such risks, and most Fujianese migrants are only one degree removed from the person they will pay to get them abroad. "This isn't like cocaine, where there's one boss in Colombia who directs the whole business," says Frank Pieke, the director...
...want, and scientists know precisely where they are. The natural gas that heats homes, fires stoves and runs factories is found in deep, saline-rich limestone and sandstone cavities, where spongelike pores store gas and help keep it from leaking away. When the energy industry pumps a deposit clean, the chambers stand empty. Not only are the shape and capacity of the cavities mapped, but also in many cases equipment is still on hand that could easily be repurposed from extraction to injection...
...membership fee of $100,000, and for $24,000 in dues each year, they stay in any combination of more than 2,500 luxury homes for up to 60 days. With Exclusive Resorts, unlike the time-share model, if they decide to cancel their membership, 80% of their initial deposit is returned. Since the Mitchells travel most of the year, their per-day costs are often less than for a stay in a hotel...