Vietnam Business News

---

• Vietnam gold eases to VND32.6Mln, Dollars stable
• Oct 12: Vietnam stocks fall as investors cash out
• VMC becomes main contractor of Splendora project
• FDI helping to water down sparks from trade deficit
• Big investment funds not yet eying Vietnam stock market
• Steel projects set to get new lease on life
• Domestic car market shows recovery
• Bank shares under pressure of capital mobilisation
• Exchange rate policy is not simply to devaluate the currency
• TienPhongBank offers lending at zeropct

Vietnam gold eases to VND32.6Mln, Dollars stable Posted: 12 Oct 2010 12:52 AM PDT Local gold prices on October 12 corrected to VND32.5million/tael-VND32.6million/tael on lower global gold prices, while dollar prices held at both official and unofficial market. Local gold prices on October 12 corrected to VND32.5million/tael-VND32.6million/tael on lower global gold prices, while dollar prices held at both official and unofficial market. Ho Chi Minh's SJC bullion at 10:34 a.m. was [...]

Oct 12: Vietnam stocks fall as investors cash out Posted: 12 Oct 2010 12:51 AM PDT Vietnamese stocks ended with losses as local investors cashed out on lack of supportive news, draining liquidity and share dilution concerns. The benchmark VN Index lost 5 points or 1.08% to 454.32. Volume improved to 28.58 million shares traded for VND686.05 billion compared to 23.7 million shares traded for VND638.52 billion on Monday. Trading volume rose but [...]

VMC becomes main contractor of Splendora project Posted: 11 Oct 2010 10:34 PM PDT Vimeco Joint Stock Co (HNX-listed VMC) announced to become the main contractor for constructing infrastructure facilities of North An Khanh Urban Area (Splendora) with total contract value of over 563.8 billion dong. The Splendora new urban project will be built in an area of 50 hectares including those items of villas, semi-detached houses, apartment buildings, multifunctional [...]

FDI helping to water down sparks from trade deficit Posted: 11 Oct 2010 10:27 PM PDT Rising foreign direct investment disbursement is relieving stubborn trade deficit concerns despite possible currency depreciations. Joy at the trade deficit having come under control was short-lived, with September’s shortfall again exceeding the $1 billion mark. On aggregate, the trade deficit in 2010’s first nine months reached $8.65 billion, up 19.4 percent year-on-year. In August, the figure [...]

Big investment funds not yet eying Vietnam stock market Posted: 11 Oct 2010 10:25 PM PDT The world’s big investment funds seem not to be eying Vietnam’s stock market because of worries about macro economy risks including risks on policy. Many opinions show that Vietnam is an attractive emerging market. However, up to 90 percent foreign investors are not interested in Vietnam’s stock market while those who are interested in Vietnamese stock [...]

Steel projects set to get new lease on life Posted: 11 Oct 2010 10:24 PM PDT Five blacklisted steel companies in Ba Ria-Vung Tau province are proposed to move forward with their steel projects. Authorities are determined to stop a potential steel glut Ba Ria-Vung Tau Industrial Zones Authority said that withdrawing the company licences would simply cause investment difficulties. The authorities filed the proposal two weeks after the provincial People’s Committee leaders agreed [...]

Domestic car market shows recovery Posted: 11 Oct 2010 10:24 PM PDT After two months of decline, car market gained a recovery in September thanks to two new car models of Mercedes – Benz Vietnam. According to Vietnam Automobile Manufacturers Association (VAMA), total domestic car sales of 17 its member firms reached 9,141 units, a slight rise of 470 ones against a month earlier. Toyota came first with 2,629 [...]

Bank shares under pressure of capital mobilisation Posted: 11 Oct 2010 10:20 PM PDT Currently, bank shares have not attracted the existing shareholders. Additionally, state shareholders have been gradually withdrawing from the bank. During the recent two months, banks announced a series of plans to issue shares to raise chartered capital. For example, Maritime Bank is preparing to issue 200 million shares to hike chartered capital from three trillion dong [...]

Exchange rate policy is not simply to devaluate the currency Posted: 11 Oct 2010 10:20 PM PDT Planning and implementing exchange rate policy is not simply to devaluate the currency to obtain the target of boosting exports, especially when Vietnam’s economy has many peculiarities. Five factors affecting the exchange rate policy decisions Five economic and financial characteristics needs to be highlighted for consideration in policy decisions on exchange rates. Firstly, Vietnam’s economy is in developing [...]

TienPhongBank offers lending at zeropct Posted: 11 Oct 2010 10:18 PM PDT Tien Phong Commercial Joint Stock Bank (TienPhongBank) on October 11 officially inaugurated and put into operation its Thang Long branch at No 129-131 Hoang Quoc Viet Str, Hanoi’s Cau Giay Dist, bringing the bank’s network to two sites in Hanoi and 26 units nationwide. On this occasion, the bank’s Thang Long branch will apply the lending [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610