Vietnam Business News

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• Vietnam’s dong gains on pledge bank-safety ratios to be raised
• Rebound surprises analysts
• Help to set up SME brokerage services
• Demand for air cargo likely to grow 30%
• VN’s third private air carrier set for take-off
• LG Viet Nam Co likely to earn $250m
• Vinalines issues $52m in bonds
• New decree hopes to protect holders of convertible bonds
• Timber-product exporters sign $3b deals
• Furniture makers pins high hope on US market

Vietnam’s dong gains on pledge bank-safety ratios to be raised Posted: 16 Aug 2010 09:24 PM PDT Vietnam’s currency gained the most in more than a week after the central bank said that bank-safety ratios will be raised next year. Benchmark two-year bonds fell. Safety ratios will be lifted gradually to a “higher” point from January 1, central bank Governor Nguyen Van Giau said Friday. Capital adequacy is one of the safety ratios, [...]

Rebound surprises analysts Posted: 16 Aug 2010 08:29 PM PDT Stocks rebounded on both national stock exchanges yesterday as investors began hunting shares at bargain prices following last week’s slump. On the HCM City Stock Exchange, the VN-Index rose 2.66 per cent to close at 464.76. Ninety-four per cent of codes posted gains on the day, with 120 codes closing at their ceiling prices. Blue chips led [...]

Help to set up SME brokerage services Posted: 16 Aug 2010 08:28 PM PDT The International Finance Corporation (IFC) will make a US$5 million loan to Thien Viet Securities Co under a deal signed here yesterday. The three-year loan, which can be repaid in shares, will help Thien Viet develop investment banking services for small- and medium-sized enterprises (SMEs) seeking to access financing through the capital markets. SMEs represent a domestic [...]

Demand for air cargo likely to grow 30% Posted: 16 Aug 2010 08:28 PM PDT Demand for air cargo is expected to jump in the last months of this year, creating potential for local and international freight airlines, said industrial analysts. “Demand will likely grow by 30 per cent in the second half of this year in comparison with the same period last year due to high demand from Asia, the [...]

VN’s third private air carrier set for take-off Posted: 16 Aug 2010 08:27 PM PDT Air Mekong, Viet Nam’s third private air carrier, is scheduled to launch its first flights on October 10. “The Civil Aviation Administration of Viet Nam (CAAV) will finish its checks and appraisal to enable Air Mekong’s operation next month,” the company stated in a press release. “Air Mekong is scheduled to begin selling tickets from mid-September and [...]

LG Viet Nam Co likely to earn $250m Posted: 16 Aug 2010 08:26 PM PDT LG Electronics Viet Nam Co Ltd is expecting to earn revenue of US$250 million this year, an increase of 22.5 per cent over 2009. The wholly invested South Korean company has been operating in Viet Nam for 15 years. It had an initial investment capital of $20.2 million. The firm sells a wide-range of electronic goods, including [...]

Vinalines issues $52m in bonds Posted: 16 Aug 2010 08:26 PM PDT Viet Nam National Shipping Lines (Vinalines), the largest State-owned shipping and port operator in the country, yesterday finalised issuing VND1 trillion (US$52.08 million) worth of bonds. The senior unsecured bonds will have a maturity of three years. They will carry an annual coupon rate of 14.5 per cent in the first year and an average 12-month [...]

New decree hopes to protect holders of convertible bonds Posted: 16 Aug 2010 08:25 PM PDT A new Government decree requires the sellers of convertible bonds to clarify all risks for potential buyers, as well as propose a risk-provision plan to protect the interests of existing bond holders whenever additional shares or bonds are issued. Government Decree 84/2010/ND-CP, issued pursuant to the Law on Securities, is intended to help bond buyers calculate [...]

Timber-product exporters sign $3b deals Posted: 16 Aug 2010 08:25 PM PDT Timber product exporters had signed export contracts totalling US$3 billion until the year end, $400 million higher than last year, said general director of the Viet Nam Timber and Forest Product Association Nguyen Ton Quyen. Quyen attributed the increase to a rebound in the export market and new markets, including East European countries. Wood producers said they [...]

Furniture makers pins high hope on US market Posted: 16 Aug 2010 08:23 PM PDT Despite the downbeat global outlook, and despite the possible double-dip recession stateside, Vietnamese furniture makers still increasingly rely on the US market to buoy up their sales. And efforts to further penetrate the US are paying off. Demand for bedroom, dinning room and living room furniture from the market with a population of over 300 million [...]

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