Vietnam Business News

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• Coffee advances most in six weeks on concern about Vietnamese stockpiles
• Vietnam kitchenware exports ‘will rise 10%’
• New company to sell nuclear power plants to Vietnam will be launched on October 22
• Vietnam interbank trading falls, O/N rates edge up
• Bank of Nova Scotia to purchase 15% stake in VietinBank to share in growth
• HCM-based SBV to fine banks violating Dollar sales rule
• Vietnam gold plunges VND500,000 to VND32.9Mln, Dollar hits VND20,050
• Unusual cash stocks pressuring Vietnam’s Dong: World Bank
• Vietnamese cultural festival held in Russia
• Robust economic recovery in East Asia, says WB

Coffee advances most in six weeks on concern about Vietnamese stockpiles Posted: 19 Oct 2010 10:00 PM PDT Robusta coffee rose the most in almost six weeks in London on concern about stockpiles in Vietnam and production in Colombia. White sugar climbed. Robusta coffee rose the most in almost six weeks in London on concern about stockpiles in Vietnam and production in Colombia. White sugar climbed. The volume of unsold coffee in Vietnam, the world's [...]

Vietnam kitchenware exports ‘will rise 10%’ Posted: 19 Oct 2010 09:59 PM PDT Vietnam is expecting kitchenware exports to rise significantly this year as suppliers focus more on eco-friendly materials and pegging prices. Vietnam is expecting kitchenware exports to rise significantly this year as suppliers focus more on eco-friendly materials and pegging prices. The Vietnam Sourcing Report: Kitchenware, from Global Sources, which profiles 33 Vietnamese exporting manufacturers, says that almost [...]

New company to sell nuclear power plants to Vietnam will be launched on October 22 Posted: 19 Oct 2010 09:58 PM PDT Thirteen Japanese companies will launch the International Nuclear Energy Development of Japan Co., Ltd. (JINED) on October 22 to develop proposals for Vietnam and other countries planning new nuclear power plant deployments. Thirteen Japanese companies including the nine electric utilities as well as Toshiba, Hitachi, Mitsubishi Heavy Industries and the Innovation Network Corporation of Japan will [...]

Vietnam interbank trading falls, O/N rates edge up Posted: 19 Oct 2010 09:56 PM PDT Total trading value of dong and dollar on the interbank market in the week ending October 14 declined to VND121.784trillion and $2.137billion, representing respective slides of VND49.481trillion and $1.380billion off the all-time high last week. Total trading value of dong and dollar on the interbank market in the week ending October 14 declined to VND121.784trillion and [...]

Bank of Nova Scotia to purchase 15% stake in VietinBank to share in growth Posted: 19 Oct 2010 09:55 PM PDT Bank of Nova Scotia, Canada's third- largest bank, plans to buy a 15% stake in Vietnam Joint- Stock Commercial Bank for Industry & Trade, said Pham Huy Hung, chairman of the Southeast Asian lender. Bank of Nova Scotia, Canada's third- largest bank, plans to buy a 15% stake in Vietnam Joint- Stock Commercial Bank for Industry [...]

HCM-based SBV to fine banks violating Dollar sales rule Posted: 19 Oct 2010 09:54 PM PDT Ho Chi Minh-based State Bank of Vietnam (SBV)'s branch started reviewing commercial banks in the city to penalize cases that banks sell dollar prices beyond the cap of VND19,500 by charging add-on fees. Ho Chi Minh-based State Bank of Vietnam (SBV)'s branch started reviewing commercial banks in the city to penalize cases that banks sell dollar [...]

Vietnam gold plunges VND500,000 to VND32.9Mln, Dollar hits VND20,050 Posted: 19 Oct 2010 09:53 PM PDT Local gold prices on October 20 morning slid VND500,000 off the all-time high to VND32.8million-VND32.9million, while dollar prices extended its rising momentum to VND20,050 in the free market. Local gold prices on October 20 morning slid VND500,000 off the all-time high to VND32.8million-VND32.9million, while dollar prices extended its rising momentum to VND20,050 in the free market. At [...]

Unusual cash stocks pressuring Vietnam’s Dong: World Bank Posted: 19 Oct 2010 09:52 PM PDT An unusually large amount of money held outside Vietnam’s official foreign exchange reserves is continuing to pressure the dong while most other regional currencies strengthen, the World Bank said Tuesday. An unusually large amount of money held outside Vietnam’s official foreign exchange reserves is continuing to pressure the dong while most other regional currencies strengthen, the [...]

Vietnamese cultural festival held in Russia Posted: 19 Oct 2010 09:50 PM PDT A Vietnamese cultural festival has opened in the Russian city of Tula to mark the 60th anniversary of Vietnamese-Russian diplomatic relations and the 1,000th anniversary of Thang Long-Hanoi. The event was organised by Vietnamese students at the International faculty from Tula State. L.N Tolstoy Pedagogical University. According to the Voice of Russia, the festival presented Vietnam as [...]

Robust economic recovery in East Asia, says WB Posted: 19 Oct 2010 09:49 PM PDT The economic recovery in Vietnam in particular and in East Asia and the Pacific in general is robust, said the World Bank in its latest East Asia and Pacific Economic Update. The WB Update was announced at a press briefing in Hanoi on October 19. According to the Update, Vietnam's economy has recovered strongly with a GDP [...]

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