U.S. venture capital firms lining up for a slice of the burgeoning digital currency market are grappling with a novel challenge - some of the hottest tech startups that sell the coins just don't need their money. FILE PHOTO: Bitcoin (virtual currency) coins are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. Only a few years ago, digital currency entrepreneurs, like other Silicon Valley peers, had to line up to pitch their ideas to venture capitalists, who controlled their destiny as virtually the only source of funding. So-called initial coin offerings (ICOs), where new tech companies using blockchain technology can raise millions quickly by creating and selling digital "tokens," with no regulatory oversight, have turned traditional relationships upside down. Blockchain, a public online ledger of … [Read more...] about U.S. venture capital’s digital coin quandary: cash-rich startups
How to raise venture capital
VietNamNet Bridge – The State Bank of Viet Nam has said no to the Viet Nam Gold Trading Association (VGTA)’s proposal to mobilise privately owned gold. The VGTA estimates it at no less than 500 tonnes, equivalent to $20 billion at current prices (VND34.2 million per tael). — Photo vneconomy.vn An anonymous SBV official told Saigon Times Daily that it would be very risky in terms of the price movements it might cause, claiming there has been no precedent by any government in the world in this regard. One of the VGTA’s most important suggestions was that the central bank and Ministry of Finance should soon set up a national transaction floor for physical gold. Since the Government issued Decree 24 on management of gold trading in 2012, which enables the central bank to directly intervene in the local gold market, the market has become very stable while the number of gold traders decreased sharply from 12,000 units then to 38 now. Under the decree, … [Read more...] about How to mobilise public gold?
Credit-Thirsty SMEs Seeking Ways To Survive By Phi Tuan Small- and medium-sized enterprises (SMEs) are regarded as the backbone of the economy, accounting for 97% of the 470,000 registered businesses. Over the years, they have played an increasingly significant role in the economy, contributing to the GDP and generating employment. Vietnam’s SMEs are presently very much in need of capital to expand their operations and profits. However, they are facing tremendous difficulties in gaining sufficient access to finance, the most important obstacle to their growth. Vu Cong Hoa, head of Phuong Nam Packaging and Mechanical Engineering Cooperative in HCM City, is struggling to find funds to continue the project that is two-thirds complete. His business, which is conducting a study on creating a waste processing line to turn garbage into organic fertilizers, has not generated any revenue since the beginning of the year. Up to now, 70% of the work done has resulted in various types of … [Read more...] about Credit-Thirsty SMEs Seeking Ways To Survive
SAN FRANCISCO (Reuters) - Facebook Inc aims to raise about US$10.6 billion in Silicon Valley's largest IPO, dwarfing the coming-out parties of tech companies like Google Inc and granting the world's largest social network a market value close to Amazon.com's. Photo: Reuters The eight-year-old social network that began as Mark Zuckerberg's Harvard dorm room project indicated an initial public offering price range of between $28 and $35 a share on Thursday, which would value the company at $77 billion to $96 billion. The valuation reflects the company's growth and bullish expectations about its money-making potential as a hub for everything from advertising to commerce. "We certainly haven't ever seen a tech IPO on this grandiose a scale," said Lise Buyer, a principal with the IPO advisory firm Class V Group. Buyer, who worked on Google's 2004 IPO, said the question about a company "that's already this big and that is raising this much money is how many of the glory days of … [Read more...] about Facebook plans to raise $10.6 billion in mega IPO
Also in 2010, many important events were held to strengthen the traditional friendship between Vietnam and Russia. Russian Ambassador to Vietnam, Andrei Grigorievich Kovtun, granted a VOV reporter an interview about the relationship in 2010 and its direction for 2011. VOV: What are the most important achievements in the development of Vietnam-Russia relationship? Mr Andrei G. Kovtun: Russia and Vietnam have been connected together by a multifaceted cooperation and traditional relations in politics, economy, culture, and education. 2010 marked a significant development in the Russia-Vietnam strategic partnership with various celebrations and events. The two countries celebrated the 60th anniversary of diplomatic ties, the 65thanniversary of Russia’s Victory, the 65th anniversary of Vietnam’s National Day, and the 35th anniversary of Vietnam’s Liberation Day. Effective political dialogues at different levels laid a firm foundation for the development of the cooperation … [Read more...] about Vietnam-Russia relationship expected to grow and flourish
It was sponsored by the Spanish Foreign Trade Institute, the Economic and Trade Division of the Spanish Embassy in Vietnam and the Trade and Investment Promotion Centre, Ho Chi Minh City to create more opportunities and partnerships for financial, industrial and technology businesses of the two countries. The event was also aimed to increase bilateral cooperation in joint ventures and investment in new areas, technology transfer, franchising and outsourcing. On November 23 and 24, some 200 business meetings and several seminars were held between businesses of the two countries. Though fewer than in the last forum, the 30 Spanish companies participating this time are big companies of famous brands such as Mondragon, Adolfo Dominguez, Befesa, Logisfashion, Lealelo,Millard Filters, Iberica and Sampol. Each of these companies had turnover of over US$5 billion in 2009 and seeks business opportunities in Vietnam setting up companies or manufacturing in the Vietnamese market. They are ready … [Read more...] about Spanish Investors Shifting to Vietnam
The Vietnamese industry will need some 900,000 billion (US$56.25 billion) for development in the 2006-2010 period, accounting 42 per cent of the total social demand and increasing 83 per cent compared with the 2001-2005 period, according to the Ministry of Industry. This is a huge capital volume and it accounts for 23.2 per cent of the aggregate social investment capital. The question is how to seek sufficient investment capital for the industry? To seek the capital, according to Industry Minister Hoang Trung Hai, the industry is speeding up the creation of a good investment environment as well as the introduction of suitable policies to lure capital from both domestic sources and foreign countries. Domestic sources: Hai said the biggest difficulty is that the State Budget is able to meet utmost 7 per cent of the demand. Ten years ago, enterprises principally relied on State Budget to increase investment capital and ignored to widen capital mobilisation channels. However, from … [Read more...] about Vietnam Seeking Measures to Raise Capital for Industrial Sector
The Vietnamese real estate market is critically short of capital and seeking out new capital sources is the most important solution. Capital solution now completely depends on the perception of authorities as feasible sources of capital will make consumers and investors continue believing in benefits they will obtain from the real estate market. BACKGROUND To curb rising inflation, which tended to continue escalating in Vietnam, the credit crunch policy was officially adopted in February 2011 and the real estate market was a target. According to official data released by the General Statistics Office (GSO), changes in consumer prices, housing and construction material prices, gold prices and US dollar prices are represented in the following table. The breakdown of price fluctuations in December 2010, January 2011 and February 2011 in comparison with those in November 2010 Time Consumer price Housing and construction material price Gold price US dollar price Dec 2010 … [Read more...] about How to Channel Capital into Real Estate Market?
The State Bank of Viet Nam has said no to the Viet Nam Gold Trading Association (VGTA)'s proposal to mobilise privately owned gold.An anonymous SBV official told Saigon Times Daily that it would be very risky in terms of the price movements it might cause, claiming there has been no precedent by any government in the world in this regard.One of the VGTA's most important suggestions was that the central bank and Ministry of Finance should soon set up a national transaction floor for physical gold.Since the Government issued Decree 24 on management of gold trading in 2012, which enables the central bank to directly intervene in the local gold market, the market has become very stable while the number of gold traders decreased sharply from 12,000 units then to 38 now.Under the decree, bullion trading is only permitted by gold firms and credit institutions licensed by the central bank.To be licensed, however, a firm must have chartered capital of at least VND100 billion (US$4.8 million), … [Read more...] about How to mobilise public gold for development?
HA NOI (VNS) - Masan Group (MSN) will spend about VND3-3.5 trillion (US$142-166 million) on fixed assets this year. This money will not include funds for potential merger and acquisition (M&A) deals. This decision was approved at a shareholders' meeting on Friday in HCM City. MSN chairman Nguyen Dang Quang said M&A was the engine for the group's growth. It had raised $1.5 billion long-term capital from partners, including International Finance Corporation, KKR, JPMorgan and TPG to fund its business and investments. "The group's core of success is how to allocate capital, not in raising capital," said Quang. Of the amount, Masan spent $964 million on business, $174 million in M&A and about $350 million stored in cash. Quang listed the four outstanding achievements of the group last year. Masan Consumer (MSF) acquired Vinh Hao Mineral Water; KKR continued to pour another $200 million into MSF, raising its total investment to $359 million; TPG Capital invested $50 million … [Read more...] about Masan plans to invest in fixed assets