Vietnam Business News

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• Vietnam dong under devaluation cycle
• Asia-Pacific’s investment banking revenues boom
• LienVietBank ties partnership with insurance firm
• Dec 8: Vietnam stocks plunge on profit taking efforts
• Vietnam needs a sustainable growth plan
• Vietnam’s foreign reserves at ‘low’ level, IMF says
• Techcombank leads deposit interest to 17.6%
• Domestic gas prices fall VND8,000/cylinder
• Wholesale sugar prices decline
• Oil refinery sells big this year

Vietnam dong under devaluation cycle Posted: 08 Dec 2010 12:28 AM PST Talking to a press conference at the Business Forum held in Hanoi on December 2, Adam Sitkoff, Executive director of American Chamber of Commerce in Vietnam (Amcham) expressed the Vietnamese government should focus more on a better macroeconomic stabilisation, the newspaper Dien Dan Doanh Nghiep reported on Monday. Sitkoff said that there are two themes being [...]

Asia-Pacific’s investment banking revenues boom Posted: 08 Dec 2010 12:26 AM PST Asia-Pacific’s investment banks have posted record revenues in 2010, skyrocketing about 33 percent over last year, industry data showed, as the region benefits from soaring investor interest. The sector’s revenue excluding Japan has reached an all-time high of $9.17 billion so far this year, overtaking the previous peak of $9.09 billion in 2007, industry data providers [...]

LienVietBank ties partnership with insurance firm Posted: 08 Dec 2010 12:21 AM PST Lien Viet Commercial Joint Stock Bank (LienVietBank) on December 7 inked partnership with Post and Telecommunication Insurance Joint Stock Corp (PTI) in Bancassurance research and development, the state-run online newspaper VnEconomy reported. Lien Viet Commercial Joint Stock Bank (LienVietBank) on December 7 inked partnership with Post and Telecommunication Insurance Joint Stock Corp (PTI) in Bancassurance research [...]

Dec 8: Vietnam stocks plunge on profit taking efforts Posted: 08 Dec 2010 12:20 AM PST Vietnamese stocks plunged today as local investors sold off across the board to take profit and minimize risks after a recent strong rally, liquidity remained high. The benchmark VN Index gave up 7.93 points or 1.72% to 452.83. Volume eased to 72.5 million shares traded for VND1.607 trillion compared with 85.025 million shares traded for VND1.984 [...]

Vietnam needs a sustainable growth plan Posted: 07 Dec 2010 09:47 PM PST An economic model based on low labour costs and intensive capital investment might have been enough to help Vietnam lift its textile and garment exports by 19.7% in Jan-Sep but will not be sustainable if the country is to maintain growth in long term An economic model based on low labour costs and intensive capital investment [...]

Vietnam’s foreign reserves at ‘low’ level, IMF says Posted: 07 Dec 2010 09:45 PM PST Vietnam's foreign reserves were at a "low" level at the end of September, covering 1.8 months of imports, amid an erosion of market confidence in government economic policy, the International Monetary Fund said. Vietnam's foreign reserves were at a "low" level at the end of September, covering 1.8 months of imports, amid an erosion of market [...]

Techcombank leads deposit interest to 17.6% Posted: 07 Dec 2010 09:45 PM PST Techcombank has become the local best place for deposit destination after raising interest rates to 17% p.a. plus 0.6% bonus for depositors from December 8, local newswire VnExpress reported. The interest rate of 17% per annum is applied for deposits from VND100 million or higher for 1 month term, effective only on three days December 8, [...]

Domestic gas prices fall VND8,000/cylinder Posted: 07 Dec 2010 09:43 PM PST The retail prices of domestic gas have decreased by VND8,000 per 12 kilo cylinder and VND30,000 per 45 kilo cylinder this morning, the online newspaper SGGP reported on December 8, citing local gas traders. Petrovietnam Gas(PVGas), the biggest gas trader in Vietnam, currently cut prices of 12 kilo cylinder to between VND327,000-VND336,000 per cylinder. This is the [...]

Wholesale sugar prices decline Posted: 07 Dec 2010 09:43 PM PST The wholesale price of sugar in HCM City reduced by VND1,000 per kilo to VND19,500 per kilo, thanks to an increase in supply. According to the Viet Nam Sugar Association, 30 sugar factories nationwide started production following the sugar cane harvest. The factories are expected to provide 200,000 tonnes of sugar in January. In November, sugar factories [...]

Oil refinery sells big this year Posted: 07 Dec 2010 09:39 PM PST The country's first oil refinery plant, Dung Quat, has so far this year produced over 3.18 million tonnes of products and sold close to 3.1 million tonnes on the market. In November the plant continued to run at full capacity and turn out high-quality products, according to the Binh Son Refinery and Petrochemical Co., Ltd, which [...]

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