Vietnam Business News

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• Indeco Tower project gets approval from local authority
• Vietnam’s per capita national income fall
• Air Mekong finally flies to Da Nang, Da Lat
• Foreigners suffer double losses on stock and dong devaluation
• Banks concerned about bad debt in gold
• Thai PTT in talks with Petrovietnam on new refinery
• Thai, Vietnamese nuclear plans face delays, Wood Mackenzie says
• Viet Han introduces large ecological city in Northern Vietnam
• Overnight interest rates plunge to 10.36%
• Insiders boost buying shares

Indeco Tower project gets approval from local authority Posted: 18 Nov 2010 08:06 PM PST Hanoi People’s Committee has lately approved Indeco Construction and Infrastructure Development Joint Stock Co to become the main investor of Indeco Tower project in Dich Vong Hau Ward, Cau Giay Dist, Hanoi. The local authority has lately issued Decision No 9254/UBND-GT approving for Indeco Tower project to be sited in Cau Giay Dist. The project was [...]

Vietnam’s per capita national income fall Posted: 18 Nov 2010 08:04 PM PST The general Statistical Office of Vietnam’s data showed that while per capita gross domestic product (GDP) at current prices in 2009 increased 1.14 percent versus 2008, the per capita gross national product (GNP) in current prices fell 1.2 percent. Looking back at the over past 10 years’ data, from 2000-2009, GDP in current prices in 2009 [...]

Air Mekong finally flies to Da Nang, Da Lat Posted: 18 Nov 2010 08:03 PM PST The start-up Vietnam Aviation Joint-Stock Co (Air Mekong) finally commenced services to Da Nang and Da Lat on Tuesday, more than two weeks later than its original schedule as approved by the Civil Aviation Administration of Vietnam. The aviation authority told with the Daily on the phone on Tuesday that Air Mekong got approval to conduct [...]

Foreigners suffer double losses on stock and dong devaluation Posted: 18 Nov 2010 07:59 PM PST At a time when dong is losing its value strongly, the country is finding it difficult to attract strong inflows of foreign indirect investment, which may increase the risk of deficit in balance of international payments On November 17’s session, the stock market continued to decline sharply as prices of many stocks fell free. On currency [...]

Banks concerned about bad debt in gold Posted: 18 Nov 2010 07:58 PM PST Gold prices have eased off their record highs in recent days, but banks that have given out gold loans worry about huge bad debt if the yellow metal rallies again. Gold on Monday dipped to 35 million dong per tael from the peak of 38.2 million dong a week ago. A tael is a local gold [...]

Thai PTT in talks with Petrovietnam on new refinery Posted: 18 Nov 2010 07:49 PM PST Thailand’s largest energy company, PTT Pcl, said on Thursday it was in talks with state-owned Petrovietnam to build an oil refinery in Vietnam as part of PTT’s overseas expansion. Thailand’s largest energy company, PTT Pcl, said on Thursday it was in talks with state-owned Petrovietnam to build an oil refinery in Vietnam as part of PTT’s [...]

Thai, Vietnamese nuclear plans face delays, Wood Mackenzie says Posted: 18 Nov 2010 07:48 PM PST Southeast Asia's first nuclear power plants, planned in Vietnam and Thailand by 2020, may be delayed by at least eight years because of a shortage of skilled workers and cheaper coal production, according to Wood Mackenzie Ltd. Southeast Asia's first nuclear power plants, planned in Vietnam and Thailand by 2020, may be delayed by at least [...]

Viet Han introduces large ecological city in Northern Vietnam Posted: 18 Nov 2010 07:45 PM PST The curtain will be dropped on the 2,069 hectare Dream City in Phu Tho province's Tam Nong district on November 19. Developers Viet Han Trading, Advertising, Construction, Real Estate Limited Company confirmed that the $305 million first phase of the project including a 36-hole golf-course will be kicked-off in early 2011. Dream City is considered as a [...]

Overnight interest rates plunge to 10.36% Posted: 18 Nov 2010 07:44 PM PST Overnight interest rates on November 15 and 16 plunged to 11.68% p.a. and 10.36% p.a., respectively, while interest rates for other terms slightly declined, the state-run online newspaper VnEconomy reported November 19. Overnight interest rates on November 15 and 16 plunged to 11.68% p.a. and 10.36% p.a., respectively, while interest rates for other terms slightly declined, [...]

Insiders boost buying shares Posted: 18 Nov 2010 07:42 PM PST Local stock market insiders have been taking the advantage of market tumbling to raise their stakes in the companies, local media reported citing some market gurus. Nguyen Duy Hung, chairman of Sai Gon Securities Inc. announced to buy 1 million shares of the company from November 18, 2010 to January 17, 2011. After the deal, Hung is [...]

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