Vietnam Business News

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• Bauxite mining projects: continue or stop?
• Oct 27: Vietnam gold hovers at VND32.9Mln, Dollar up to VND20,190
• Aquino impressed by Vietnam stride in rice production
• Jan-Oct: HCMC total deposits hit VND750.7Tln, Up 27.9% y-o-y
• Overseas remittance flows to black market again
• Tae Kwang group kicks off $75Mln Nike factory in Vietnam
• Domestic pangasious prices hit all-time high at VND19,000/Kg
• Banks’ profit in 2010 – the picture still unclear
• What do VIPs use super cars for?
• Vietcombank affiliate to handle AIA portfolios

Bauxite mining projects: continue or stop? Posted: 27 Oct 2010 12:27 AM PDT The bauxite mining projects in Vietnam raise controversy again after the red mud spill in Hungary. VietNamNet summarises the opinions of experts and officials. Duong Viet Hoa, Deputy General Director of the Vietnam National Coal and Mineral Group (Vinacomin): it is unnecessary to stop bauxite mining projects Hoa said that the incident in Hungary is the first [...]

Oct 27: Vietnam gold hovers at VND32.9Mln, Dollar up to VND20,190 Posted: 27 Oct 2010 12:25 AM PDT Local gold prices on October 27 hovered at VND32.9million/tael and VND32.95million/tael eyeing world gold prices' new momentum. Meanwhile, dollar prices hit the fresh all-time high of VND20,190 in the free market. Local gold prices on October 27 hovered at VND32.9million/tael and VND32.95million/tael eyeing world gold prices' new momentum. Meanwhile, dollar prices hit the fresh all-time high [...]

Aquino impressed by Vietnam stride in rice production Posted: 26 Oct 2010 09:48 PM PDT President Aquino said Tuesday the Philippines has much to learn from Vietnam when it comes to rice production, which the Vietnamese have mastered from techniques learned from the International Rice Research Institute in the Philippines. Aquino said he intends to exchange knowledge and experiences with Vietnam to help the Philippines solve its own woes. "More importantly, on [...]

Jan-Oct: HCMC total deposits hit VND750.7Tln, Up 27.9% y-o-y Posted: 26 Oct 2010 09:45 PM PDT Du Quang Nam, Director General of HCMC General Statistics Office Department said total deposits at banks in the city were estimated at VND750.7trillion in the first ten months of the year, up 5.4% on month and 27.9% on year. Du Quang Nam, Director General of HCMC General Statistics Office Department said total deposits at banks [...]

Overseas remittance flows to black market again Posted: 26 Oct 2010 09:44 PM PDT Local lenders said that overseas remittance is flowing to the black market again due to its higher dollar prices than at local lenders. Inward overseas remittance via Sacomrex, the overseas remittance service company under Sacombank hit nearly $1billion in the first nine months of the year, up 40% on year, said Le Nguyen Thanh Trung, Sacomrex's [...]

Tae Kwang group kicks off $75Mln Nike factory in Vietnam Posted: 26 Oct 2010 09:43 PM PDT Tae Kwang, the Korean Group, launched its third Nike shoes factory worth $75 million at the MocBai Border Economic Zone located in Tay Ninh province on Ocotber 25, the online newspaper Tuoitre reported on October 26. The factory has a average capacity of 10 million pairs of shoes per year and an average export turnover of [...]

Domestic pangasious prices hit all-time high at VND19,000/Kg Posted: 26 Oct 2010 09:42 PM PDT The prices of pangasious hit all-time high at VND19,000/kg in the Mekong River Delta, the online newspaper Tuoitre reported on October 26,citing the Vietnam Association Seafood Exporters and Producers(VASEP). Although the Tra fish price surged to the highest level in all times, the number of fishers seems to drop due to higher prices of castle food [...]

Banks’ profit in 2010 – the picture still unclear Posted: 26 Oct 2010 09:38 PM PDT The end of year is approaching, but some banks will only be able to tell whether they fulfilled their yearly business plans on the last days of 2010. An Binh Bank (ABBank) provides updates on its businesses results every month. The reason for this regularity seems to be the bank's overall smooth operation. In the first nine [...]

What do VIPs use super cars for? Posted: 26 Oct 2010 09:38 PM PDT Super cars by well known brands have appeared in Vietnam, from Lamborghini, Rolls Royce to Bentley, Porche and Audi. However, it may be a surprise to manufacturers and many other people that Vietnamese businessmen do not want others to know about their cars, which they buy not for use, but for their collections. Nguyen Quoc Cuong, [...]

Vietcombank affiliate to handle AIA portfolios Posted: 26 Oct 2010 09:37 PM PDT The Vietcombank Fund Management Co will manage three portfolios of life-insurance firm AIA Vietnam under an investment management agreement signed yesterday. According to the insurer’s CEO Jamie Rains, the three portfolios are worth US$150 million. The Conservative Portfolio aims to generate stable interest income and preserve capital mainly through investment in Vietnamese Government and corporate bonds. The Balanced [...]

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