Vietnam Business News

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• VN Index loses threshold of 450pts
• 1.2m tones of clinker to be exported to Bangladesh
• Vnsteel Thang Long’s operation starts
• Air Mekong to sell fares online from Thursday
• Dai-ichi Life Vietnam soars growth in Jan-Aug
• Interbank interest rates rise slightly, forex market more positive: SBV
• Spanish enterprise keen to invest in HCM City
• EU sees Vietnam as a market economy by 2018
• Central bank warned of illegal ATM fees, issuers to be punished
• Cement plant breaks ground in Hau Giang

VN Index loses threshold of 450pts Posted: 24 Sep 2010 09:04 PM PDT The last session of the week ended in the context when the Vietnamese stock market continued to slump slightly. The VN Index lost the threshold of 450 points. After the first trading session, the VN Index dropped 1.64 points or 0.36 percent to 449.13 points. There were over 700,000 shares changing hands worth 20 billion dong. During [...]

1.2m tones of clinker to be exported to Bangladesh Posted: 24 Sep 2010 09:03 PM PDT Hoang Manh Truong, chair of Hoang Phat The Vissai Group yesterday signed the cooperation contract with Hong Kong-based PeakWark Holdings Co for exporting clinker to Bangladesh. According to the signed contract, Hoang Phat The Vissai Ninh Binh Group will export 1.2 million tones of clinker per year to Bangladesh. The total contract value was estimated at [...]

Vnsteel Thang Long’s operation starts Posted: 24 Sep 2010 09:02 PM PDT Vnsteel Thang Long Joint Stock Company, a unit of Vietnam Steel Cooperation (Vnsteel) officially started operation on September 23 with total chartered capital of 450 billion dong. Vnsteel Thang Long will supply products manufactured by the most modern production lines in Vietnam and other regional countries. The new steel firm and two other member companies of Vnsteel: [...]

Air Mekong to sell fares online from Thursday Posted: 24 Sep 2010 09:00 PM PDT Vietnam’s private airline Air Mekong has loaded airfares on its website on Thursday for its domestic flights departing from October, with a one-way fare starting from 400,000 dong (US$20.5). Truong Thanh Vu, director of commercial service at Air Mekong, told the Daily on the phone on Wednesday after the airline held a press conference in Hanoi [...]

Dai-ichi Life Vietnam soars growth in Jan-Aug Posted: 24 Sep 2010 08:58 PM PDT Dai-ichi Life Insurance Company of Vietnam, Ltd said that it soared a new growth of 43.9 percent compared to last year’s same period, a sharply increase over average growth in the market of 33 percent. The other growths in revenue, profit, fiscal security ability surpassed year target. With $72 million of chartered capital, the firm now has [...]

Interbank interest rates rise slightly, forex market more positive: SBV Posted: 24 Sep 2010 08:57 PM PDT Total trading value on Vietnam’s interbank market in the week from September 10th to 16th was estimated at approximately 82.975 trillion dong and $1.962 billion, an average of 16.951 trillion dong and $392 million per day, according to State Bank of Vietnam (SBV)’s report on its website today. The dong transactions were mainly incurred in short-term [...]

Spanish enterprise keen to invest in HCM City Posted: 24 Sep 2010 08:55 PM PDT Leaders of Spain's Group Maritime TCB visited Ho Chi Minh City on September 24-25 to promote the container port construction project in the city, and seek cooperative venture opportunities in infrastructure development and the maritime industry. At a meeting with deputy chairman of the municipal People's Committee Nguyen Trung Tin, CEO of TCB Xavier Soucheiron expressed [...]

EU sees Vietnam as a market economy by 2018 Posted: 24 Sep 2010 08:54 PM PDT A senior EU trade official says that Vietnam will meet all the five criteria for the world's largest trading bloc to recognise the country as having a market economy by 2018. Stefan Depypere, Director of Trade Defence under the European Commission Directorate-General for Trade, stated this at a press briefing in Hanoi on September 24 at [...]

Central bank warned of illegal ATM fees, issuers to be punished Posted: 24 Sep 2010 08:48 PM PDT Bank card issuers will be punished for collecting fees for inter-network ATM internal-network transactions that have not been approved by the State Bank of Viet Nam, said Ho Huu Hanh, a representative of the State Bank’s HCM City branch. Funds collected through these illegal fees would also be appropriated to the State budget, Hanh warned. The central [...]

Cement plant breaks ground in Hau Giang Posted: 24 Sep 2010 08:47 PM PDT Construction work on the Can Tho-Hau Giang Cement Plant started on Thursday in Phu Huu A Industrial Park in the southern province of Hau Giang. The project has a total investment capital of VND320 billion (US$16.41 million). The factory has a planned production capacity of 700,000 tonnes of cement per year, with production aimed at meeting [...]

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