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Days after billionaire businessman, Femi Otedola, bought about a five per cent stake in Transnational Corporation Plc earlier in the year, the chairman of the group, Tony Elumelu, stated that it was a boost to have an active local investor community.
Vietnam, now classified as a “frontier market” by both the U.S.’s Morgan Stanley Capital International (MSCI) and the UK’s FTSE Russell, needs to meet the higher standards of these organizations to get its status elevated to an “emerging market”, writes Can Van Luc, chief economist at Hanoi-based BIDV bank.
By Kazeem Akintunde On May 29, when President Bola Ahmed Tinubu was sworn in as the 16th President of the Federal Republic of Nigeria, the dollar at the black market exchanged at the rate of N758/$1. But at the Investors and Exporters (I&E) window of the foreign exchange market, it was sold at N464/67/$1. Mr.
Mr. President was not happy with the dual exchange rate of the dollar as operated by the previous administration.
Vietnam’s stock market has not been upgraded from Frontier to Secondary Emerging in the FTSE Russel global classification. - VnExpress International