Vietnam Business News

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• Dong and Dollar interest rates move inversely
• Air Mekong launching service in Vietnam with SkyWest CRJ 900s
• Vietnam power shortage may worsen In Q4 -reports
• Fitch Ratings: credit profile of Vietnam banks remain weak
• Heavy foreign investor buys boost stock market
• Conference explores role of innovation
• Banks ordered to report on loans in US dollars
• Poor fuel management costs millions
• Frozen loans to be thawed
• Land of the rising yen

Dong and Dollar interest rates move inversely Posted: 05 Oct 2010 10:29 PM PDT Dong deposit interest rates edged down while those of the dollar tend to rise at most local commercial banks, the local newswire Sai Gon Giai Phong reported October 6. Dong deposit interest rates edged down while those of the dollar tend to rise at most local commercial banks, the local newswire Sai Gon Giai Phong reported [...]

Air Mekong launching service in Vietnam with SkyWest CRJ 900s Posted: 05 Oct 2010 09:00 PM PDT Vietnam's Air Mekong, 30-percent owned by U.S. regional airline SkyWest, plans to launch domestic services on October 9 using four 86-seat Bombardier CRJ900s subleased from the St. George, Utah-based regional. ietnam's Air Mekong, 30-percent owned by U.S. regional airline SkyWest, plans to launch domestic services on October 9 using four 86-seat Bombardier CRJ900s subleased from the [...]

Vietnam power shortage may worsen In Q4 -reports Posted: 05 Oct 2010 09:00 PM PDT A power shortage in Vietnam could worsen in the remaining months of the year due to low water flows into hydro power plant reservoirs, state-run newspapers reported on Tuesday. A power shortage in Vietnam could worsen in the remaining months of the year due to low water flows into hydro power plant reservoirs, state-run newspapers reported [...]

Fitch Ratings: credit profile of Vietnam banks remain weak Posted: 05 Oct 2010 08:59 PM PDT In a recent press release, Fitch Ratings is concerned about the sustainability of Vietnam’s banking sector, particularly regarding banks' potentially vulnerable asset quality, limited capitalization and weakened liquidity position. In a recent press release, Fitch Ratings is concerned about the sustainability of the domestic banking sector, particularly regarding banks' potentially vulnerable asset quality, limited capitalization and [...]

Heavy foreign investor buys boost stock market Posted: 05 Oct 2010 08:41 PM PDT The VN-Index rose yesterday on heavy late buys of blue chips by foreign investors, finishing the session at 450.96 points, a gain of 1.15 per cent. Volume on the HCM City Stock Exchange fell by nearly 34 per cent, however, to 32.75 million shares, worth a combined VND835.2 billion (US$42.8 million). Advancers outnumbered decliners by 131-72, with [...]

Conference explores role of innovation Posted: 05 Oct 2010 08:41 PM PDT The fourth annual Technology Business Conference, which explores entrepreneurship and innovation, will be held for the first time in Viet Nam from October 13-14 in HCM City. The two-day conference will bring together high-level policymakers, domestic and foreign executives and investors to discuss issues vital for the country’s future, including the Government’s role in the growth [...]

Banks ordered to report on loans in US dollars Posted: 05 Oct 2010 08:40 PM PDT The State Bank of Viet Nam has ordered credit institutions to report by the end of next week on outstanding loans and investments involving US dollars. The central bank says the information will help it draft its monetary policy for the latter months of the year. This is the second time the central bank has asked for [...]

Poor fuel management costs millions Posted: 05 Oct 2010 08:39 PM PDT Poor fuel forecasting and lack of communication had caused Viet Nam to spend valuable foreign currency on importing petrol while domestic petrol was in oversupply, the Ministry of Industry and Trade said this week. It has also contributed to Viet Nam National Petroleum Corporation (Petrolimex) losing US$41 million in exchange rates so far this year. Deputy Minister [...]

Frozen loans to be thawed Posted: 05 Oct 2010 08:08 PM PDT Last week’s eagerly awaited adjustment of banking safety ratios is expected to create more room for local banks to provide loans. Many local firms have complained about the lack of access to capital The central bank’s Circular 19/2010/TT-NHNN was issued a week before its predecessor Circular 13 took effect with amendments mostly on loosening deposit calculation methods. Accordingly, [...]

Land of the rising yen Posted: 05 Oct 2010 09:08 AM PDT Vietnamese firms are enjoying great opportunity in Japan's software market. Thirty Japanese enterprises, including famous firms such as Toshiba and Itochu, last week attended the Vietnam-Japan festival information technology in Ho Chi Minh City for Vietnamese and Japanese software and information technology firms to review market and develop business opportunities. "At present, China occupies 84 per cent [...]

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