Word: thuy
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We’ve all heard of Valentino, Ralph Lauren and Tommy Hilfiger, but less recognizable are names like Jen Kao, Mary Ping and Thuy. “Project East,” a fashion show organized by Timothy M. Parent ’09 and Kristin S. Kim ’09, will showcase Asian designers and aims to raise awareness of the thriving Asian fashion design scene.The idea for “Project East,” which hits the runway tomorrow, was formulated in the summer of 2006 while Parent and Kim were in Korea...
...DEAL, RIGHT? Actually, Vietnam Television was so incensed that it dropped the entire series within days, and star Hoang Thuy Linh tearfully apologized to her fans. Naturally, the Web clip continues to circulate...
...HSBC, one of the world's largest banks, and ANZ (Australia and New Zealand Banking Group); both are planning to open 10 new branches each within three years so they can expand services such as credit cards, home mortgages and personal loans. "Definitely, the growth will be high," says Thuy Dam, ANZ's general manager for Vietnam...
...While foreign banks gear up and local private banks seek partners, Vietnam's state-run banks are also adapting. Four are set to be partially privatized this year and will list on the stock exchange, beginning with Vietcombank in a few months, according to Le Duc Thuy, governor of the State Bank of Vietnam, the country's central bank. State-owned players are getting additional help from the government: in April, Hanoi plans to raise charter-capital requirements for banks from $5 million to $70 million. The move is being made to ensure banks are financially sound, but in effect...
...biggest banks may need the help. Some observers estimate they may be saddled with a total of up to $7 billion in bad debts. But Thuy says state-owned banks are in better financial shape than is commonly believed. Nonperforming loans have been cut from 20% to as low as 3%, he says. Industry experts say the real number is probably three times that, but admit Vietnam has made progress in reducing bad loans. "It's not a China-like situation," says Alain Cany, chief executive for HSBC in Vietnam. (Up to 50% of the loan portfolios of China...