Vietnam Business News

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• TNK-BP cleared to buy BP’s assets in Vietnam
• Vietnam urged to probe ’$4.3 Bln’ shipbuilding scandal
• Vietnam inflation trend at ’warning level’ -Planner
• Vietnam food, drinks stocks may beat index amid inflation, ThangLong says
• Vietnam: no need for another devaluation, says ADB
• Vietcombank struggles to meet minimum CAR requirement
• ADB helps improve farm produce safety in Hanoi
• Deputies worry about the quality of growth development
• Vinacomin to ensure coal for power plants
• Sugar mills set output targets

TNK-BP cleared to buy BP’s assets in Vietnam Posted: 01 Nov 2010 08:36 PM PDT Russia’s energy minister signed a memorandum with Vietnam’s government allowing Russian oil company TNK-BP (TNBPI.RTS: Quote) to acquire BP’s (BP.L: Quote) Vietnamese gas assets, a source close to TNK-BP told Reuters on Monday. Russia’s energy minister signed a memorandum with Vietnam’s government allowing Russian oil company TNK-BP (TNBPI.RTS: Quote) to acquire BP’s (BP.L: Quote) Vietnamese gas [...]

Vietnam urged to probe ’$4.3 Bln’ shipbuilding scandal Posted: 01 Nov 2010 08:35 PM PDT Vietnamese lawmakers on Monday demanded answers in the case of state-run shipbuilding group Vinashin, which has been driven to the brink of bankruptcy ahead of a key Communist Party Congress. Vietnamese lawmakers on Monday demanded answers in the case of state-run shipbuilding group Vinashin, which has been driven to the brink of bankruptcy ahead of a [...]

Vietnam inflation trend at ’warning level’ -Planner Posted: 01 Nov 2010 08:35 PM PDT Vietnam’s inflation trend has reached a “warning level” and will rise sharply in the coming months unless the authorities adopt strong measures, a state-run newspaper on Monday quoted a deputy planning minister as saying. Vietnam’s inflation trend has reached a “warning level” and will rise sharply in the coming months unless the authorities adopt strong measures, [...]

Vietnam food, drinks stocks may beat index amid inflation, ThangLong says Posted: 01 Nov 2010 08:34 PM PDT Vietnam's food and beverage stocks will probably outperform the benchmark index as consumers maintain essential spending even while inflation accelerates, the country's biggest brokerage said. Vietnam's food and beverage stocks will probably outperform the benchmark index as consumers maintain essential spending even while inflation accelerates, the country's biggest brokerage said. "People can cut back on luxury goods, [...]

Vietnam: no need for another devaluation, says ADB Posted: 01 Nov 2010 08:32 PM PDT Vietnam's authorities have already devalued the country's currency twice this year, and they're now scrambling to avoid doing so a third time – tinkering with gold regulations, and trying to control inflation in order to prop up the dong Vietnam's authorities have already devalued the country's currency twice this year, and they're now scrambling to avoid [...]

Vietcombank struggles to meet minimum CAR requirement Posted: 01 Nov 2010 08:31 PM PDT Vietcombank has struggled to meet the requirement of a minimum 9% Capital Adequacy Ratio (CAR) in line with the effective Circular 13 from October 1 this year, the state-run online newspaper VnEconomy reported November 2. Vietcombank has struggled to meet the requirement of a minimum 9% Capital Adequacy Ratio (CAR) in line with the effective Circular [...]

ADB helps improve farm produce safety in Hanoi Posted: 01 Nov 2010 08:29 PM PDT The Asia Development Bank (ADB) will help Hanoi to carry out a project on improving farm produce safety and developing the biogas sector in Hanoi from now to 2015. The project, Quality and Safety Enhancement of Agricultural Products and Biogas Development Project (QSEAP) with a capital of over US$6 million, will get a loan of more [...]

Deputies worry about the quality of growth development Posted: 01 Nov 2010 08:27 PM PDT National Assembly (NA) deputies yesterday applauded achievements in socio-economic development last year as reported by the Government, but expressed their worry about the quality of growth. Deputies agreed with the Government’s report on the implementation of the socio-economic development plan for 2010 and its plan for socio-economic development for 2011. However, they said the growth rate was [...]

Vinacomin to ensure coal for power plants Posted: 01 Nov 2010 08:26 PM PDT The Ministry of Industry and Trade has instructed the Viet Nam National Coal and Mineral Industrial Group (Vinacomin) to promote its activities that it has undertaken to ensure power plants have an adequate amount of coal to run their facilities. Vinacomin should set up a team to work with the steering committee on importing coal for [...]

Sugar mills set output targets Posted: 01 Nov 2010 08:26 PM PDT Sugar mills in the country will produce between 900,000 and a million tonnes of sugar in the 2010-11 season, according to the Viet Nam Sugar and Sugarcane Association. This marks an increase of 10-15 per cent over the last season, the association said. Trinh Minh Chau, deputy chairman of the association, said eight of 10 sugar mills [...]

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