Vietnam Business News

---

• Hanoi-Vung Tau brewery officially inaugurated
• Total means of payment up over 25pct in 2010
• Reduce interest rates to curb inflation: Dr Nghia
• Vietinbank introduces VietinBank Capital Co
• Vietnam not ready for T+2 rule, 40% foreign bank room
• MoIT grants 140,000 tons of sugar quota to 7 July 2011
• Western Bank to raise US dollar deposit rate to 5.3pct/year
• Banks continue to breach deposit-rate cap
• Jan 12: Vietnam gold edges up to VND35.89Mln/tael
• Maritime Bank posts VND1.518Tln pretax profits in 2010, blowing year-target

Hanoi-Vung Tau brewery officially inaugurated Posted: 12 Jan 2011 12:52 AM PST Hanoi-Vung Tau Beer Joint Stock Co yesterday officially opened and put into operation the Hanoi-Vung Tau brewery in My Xuan A industrial zone, Ba Ria-Vung Tau province. The construction project has total investment capital of $42 million. The brewery was built in an area of over 8.2 hectares, providing products of Hanoi Beer and Carlsberg Beer [...]

Total means of payment up over 25pct in 2010 Posted: 12 Jan 2011 12:48 AM PST Till the end of December 2010, the total means of payment was estimated to increase 1.87 percent from the previous month and 25.3 percent year-on-year. Of which, cash circulation outside the banking system increased 2.14 percent and 15.01 percent respectively, the State Bank of Vietnam (SBV) reported. The country’s credit growth was 29.81 percent. Also according to [...]

Reduce interest rates to curb inflation: Dr Nghia Posted: 12 Jan 2011 12:48 AM PST Many people believe that Vietnam should devalue its local currency, but according to Dr Le Xuan Nghia, deputy Chair of National Financial Supervisory Commission, it is not a good direction as the dong currently has depreciated much. According to Dr Nghia, in the first quarter 2011, if knowing how to undertake synchronous solutions, deposit rates will [...]

Vietinbank introduces VietinBank Capital Co Posted: 12 Jan 2011 12:47 AM PST Vietnam Commercial Joint Stock Bank of Industry and Trade (Vietinbank) has lately introduced to public the Vietinbank Fund Management one-member Co Ltd with chartered capital of 50 billion dong. The new company expected to increase its chartered capital to 500 billion dong in the future. Nguyen Anh Tuan was assigned as the company’s director. Compared to that [...]

Vietnam not ready for T+2 rule, 40% foreign bank room Posted: 11 Jan 2011 10:31 PM PST The State Securities Commission of Vietnam (SSC) has not yet ready to cut stock trading rule of T+4 (4 days delayed) to T+2 although it has been preparing for it for long The State Securities Commission of Vietnam (SSC) has not yet ready to cut stock trading rule of T+4 (4 days delayed) to T+2 although [...]

MoIT grants 140,000 tons of sugar quota to 7 July 2011 Posted: 11 Jan 2011 10:30 PM PST The Ministry of Industry and Trade (MoIT) has granted a quota of 140,000 tons of refined and crude sugar to 24 local sugar importers until 7 July 2011 The Ministry of Industry and Trade (MoIT) has granted a quota of 140,000 tons of refined and crude sugar to 24 local sugar importers until 7 July 2011, [...]

Western Bank to raise US dollar deposit rate to 5.3pct/year Posted: 11 Jan 2011 09:50 PM PST Western Commercial JS Bank or Western Bank said it officially launched the service of account transfer via Internet Banking from January 1. With this, customers can easily transfer payment deposit accounts to any other accounts inside and outside the bank’s system. The lender provides the online transfer line of 200 million dong per day to individual customers [...]

Banks continue to breach deposit-rate cap Posted: 11 Jan 2011 09:50 PM PST Many banks continue to exceed the deposit interest-rate cap of 14 percent cap they agreed with the State Bank of Vietnam last month by surreptitiously offering gifts and even fines to depositors. Some banks enter into a contract with depositors that allows them to make late disbursements, thus adding 1-2 percent interest as a “fine,” the [...]

Jan 12: Vietnam gold edges up to VND35.89Mln/tael Posted: 11 Jan 2011 08:21 PM PST Local gold prices on January 12 morning rose for a second day to VND35.89million/tael , up over VND110,000 from yesterday close as the global gold prices increased further to settle above $1,384. Bid and ask of Thang Long gold bullion, a product of Bao Tin Minh Chau were listed at VND35.79million/tael and VND35.89million/tael for bid and [...]

Maritime Bank posts VND1.518Tln pretax profits in 2010, blowing year-target Posted: 11 Jan 2011 08:21 PM PST Maritime joint stock commercial bank has posted a pretax profit of VND1.518trillion after setting aside loan-loss provisions in 2010, meeting 126.5% of the year-target and up 151% from 2009, the state-run online newspaper VnEconomy reported. As of December 31 last year, the lender had a total asset of VND116trillion, meeting 126% of its target and up [...]

You are subscribed to email updates from Vietnam Business News To stop receiving these emails, you may unsubscribe now.	Email delivery powered by Google
Google Inc., 20 West Kinzie, Chicago IL USA 60610