Top brokerage firm Saigon Securities Inc (SSI) saw its pretax profit in the first half of the year fall by 45 percent year-on-year to VND479 billion ($20.56 million). The firm’s revenues dropped 20 percent to VND1.43 trillion ($61.38 million), in which revenue from brokerage services alone fell by 59 percent. Ho Chi Minh City Securities Corporation (HSC) reported a H1 pretax profit of VND238 billion ($10.22 million), a 60 percent drop. With revenues from brokerage services falling by half, HSC posted a total revenue of VND753 billion ($32.33 million), dropping 49 percent. Other leading brokerages like Viet Capital Securities (VCSC) and VNDirect (VND) also reported their revenues falling by 35 and 46 percent year-on-year respectively, mainly because of lower revenue from brokerage services. The firms attributed the decline to declining trading value in the second quarter. Average daily trading value in the last three months fell by 40 percent year-on-year to VND4.3 trillion … [Read more...] about Leading brokerage firms see H1 profits drop
Viet Nam News HÀ NỘI — The increase of foreign direct investment (FDI) in the first two months of the year has contributed to a better performance of listed industrial park developers. According to the General Statistics Department, FDI flowing into projects in Việt Nam picked up 9.8 per cent year on year to a three-year high of US$2.58 billion in January and February. In the same period, foreign investors poured $8.47 billion into Việt Nam in various channels, including FDI projects. Foreign investment reached $35.46 billion in 2018, 2 per cent lower than 2017 figure. That included $19.1 billion worth of FDI projects. Impressive numbers from the government statistics agency indicated how attractive Việt Nam is to foreign investors. According to Vietinbank Securities JSC, as the US central bank Federal Reserve’s signal slower interest rate increases this year, and better trade talks between the US and China have made foreign investors look … [Read more...] about Industrial realty firms boosted by FDI increase
By Keiko Morris WSJ Konrad Putzier WSJ Thu., Feb. 21, 2019 There may be nobody who lost more from Amazon.com Inc.’s pull out of Queens than the real-estate investors at Savanna. The New York-based property firm was one of the biggest beneficiaries of Amazon’s decision to locate a new headquarters in Long Island City. The retailer agreed to rent about one million square feet in Savanna’s green glass office tower near the East River. Savanna moved quickly to capitalize. It approached lenders to borrow $750 million against the value of the 53-story tower, which Savanna believed would more than double in worth after landing its famous new tenant, according to people familiar with the matter. It launched talks with investors to sell stakes for most of the building, some of these people said. Now that Amazon has pulled out of Queens after facing local opposition, Savanna’s most attractive property flipped overnight to one of its biggest … [Read more...] about New York Property Firm Hit the Jackpot. Then Amazon Pulled Out
MUMBAI (Reuters) - Indian steel firms are putting pressure on the nation’s government to impose higher duties on imports as trade disputes and a global economic slowdown divert surplus Asian steel stocks to India, industry executives and government sources said. FILE PHOTO: A worker observes an electric furnace inside a steel factory on the outskirts of Jammu February 12, 2018. REUTERS/Mukesh Gupta/File photo Local Indian producers are suffering from the double whammy of a rise in cheap imports and low domestic steel prices, which threatens to wipeout the healthy profits made in the past couple of years. The steel companies have approached the federal ministry multiple times over the past few months, alleging China, Japan, South Korea and Vietnam are dumping various grades of low-cost steel into the Indian market and stealing market share as a result, three government sources said. India’s top four steelmakers - JSW Steel Ltd, Tata Steel Ltd, state-owned Steel … [Read more...] about Exclusive: Indian steel firms seek higher duties on steel imports…
Dayana Yochim, NerdWallet Published 1:10 pm CST, Tuesday, January 15, 2019 This article was first published on NerdWallet.com. Your bank account balances are insured by the FDIC. Assets in your brokerage are also protected, but by a different entity — the nonprofit Securities Investor Protection Corporation, or SIPC. In the unlikely event your broker or robo-advisor financially fails — and also fails to move your money to another protected firm — and investors’ assets are missing or at risk, the SIPC will step in to make you whole by providing up to $500,000 in coverage. Here are the basics of brokerage account insurance, including what it does and doesn’t cover. SIPC insurance rules SIPC coverage provides … Up to $500,000 in total coverage per customer for lost or missing assets of cash and/or securities from a customer’s accounts held at the institution. Up to $250,000 of that total can be applied to protect cash within a … [Read more...] about Is My Brokerage Account Insured?