Business

BEIJING (Reuters) - China will revise its 2018 gross domestic product (GDP) estimate in the next few days to reflect an increase in the number of businesses and assets recorded in the last census, officials said. FILE PHOTO: A worker pulls a cart at a construction site near new apartment high-rise buildings in the Shekou area of Shenzhen, Guangdong Province, China, December 13, 2018. REUTERS/Thomas Peter/File Photo China’s fourth National Economic Census, released on Wednesday, included “richer” data points that showed more business entities and a bigger total asset base in 2018 than assumed under earlier GDP estimates, Li Xiaochao, deputy head of the statistics bureau, told Reuters. While the revisions typically have no immediate bearing on policy, some analysts see other implications for longer-term economic targets if past estimates are revised higher. Li said the details of the revision would be made public “in a few days” but declined to … [Read more...] about China to revise 2018 GDP to reflect asset, business growth

Moody's Investors Service on Wednesday said it has assigned a 'Baa1' rating to the proposed senior unsecured notes to be issued by Oil and Natural Gas Corp under its USD 2 billion medium-term note program. The outlook on the rating is negative, Moody's said in a statement."The notes' rating is in line with ONGC's Baa1 issuer rating, which is in turn primarily driven by its standalone credit profile as captured by the company's baa1 Baseline Credit Assessment (BCA)," says Vikas Halan, a Moody's Senior Vice President.The rating reflects ONGC's position as the largest integrated oil and gas company in India with significant reserves, production and crude distillation capacity as also its substantial operating cash flow generation capacity.Close It also factors the firm's solid credit metrics that have improved but remain constrained by volatile — although range-bound — oil prices and high shareholder returns. related news SpiceJet, Gulf Air sign MoU to explore … [Read more...] about Moody’s assigns Baa1 rating to ONGC’s proposed senior unsecured notes

Technology giant IBM on Wednesday launched 'Cloud Pak for Security', featuring innovations to connect with any security tool, cloud or on-premise system, without moving data from its original source.The platform includes open-source technology for hunting threats, automation capabilities to help speed response to cyberattacks, and the ability to run in any environment, the company said in a statement.It is the first platform to leverage new open-source technology pioneered by IBM, which can search and translate security data from a variety of sources, bringing together critical security insights from across a company's multicloud IT environment, the company claimed.Close The platform is extensible, so that additional tools and applications can be added over time, the statement said. related news SpiceJet, Gulf Air sign MoU to explore codeshare and coordinated engineering services BS VI emission norms to create headwinds for CV sector: India Ratings Shree Cements share price … [Read more...] about IBM launches open tech to speed response to cyber threats across clouds

Philippe Le Houérou - Chief Executive Officer of IFC speaks at the event (Source: VNA) HCM City (VNA) - The set of Principles of Best Corporate Governance for all public companies in Vietnam was publicised by the State Securities Commission of Vietnam (SSC) at the Ho Chi Minh Stock Exchange (HOSE) on August 13. The principles aim to promote the capital market and the sustainable development of the economy. The rules, which were developed with support from the International Finance Organisation (IFC) and the Swiss State Secretariat for Economic Affairs (SECO), make recommendations on best corporate governance practices for all Vietnamese public companies. The set of 10 principles, with detailed recommendations on best principles, centre on addressing priority issues in corporate governance practices. Notably, six out of them focus on operational functions of boards of directors – something many local firms need to improve. The remaining four … [Read more...] about Principles of best corporate governance makes debut

The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) will increase its charter capital to nearly 34.97 trillion VND. (Photo: vietnamfinance.com) Hanoi (VNA) - The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) will increase its charter capital to nearly 34.97 trillion VND (1.53 billion USD). The plan was approved by the bank’s shareholders at an extra meeting on June 14. Techcombank’s charter capital currently stands at nearly 11.66 trillion VND, and the increase of over 23.31 trillion VND corresponds to over 2.33 billion shares expected to be issued with a par value of 10,000 VND per share. The total number of Techcombank shares after raising capital will be about 3.5 billion shares. As a result of the increase, shareholders will receive more shares at a ratio of 1:2 for each share, with each shareholder receiving two new shares. The charter capital increase procedure will be completed in July in accordance with the law. The issuance … [Read more...] about Techcombank to increase charter capital to 1.53 billion USD