Vietnam Business News

---

• Jan 21: Vietnam gold plunges VND300,000 to VND35.28Mln/tael
• VietBank raises Dollar deposit interest rates to 6.2%
• Jan 21: Vietnam stocks rise full week but fail to test 520
• Foreign banks on scale in Vietnam
• Vietnam bonds fall on speculation inflation may fall this month
• Banks ordered to suspend service of converting into $2 banknote
• Vietnamese inflation may accelerate to 15pct, Credit Suisse says
• Vietnam’s cement demand estimated at 56-57m tons in 2011
• Vietnam coffee exporters told to stop underselling
• Vietnamese developer plans to buy US properties

Jan 21: Vietnam gold plunges VND300,000 to VND35.28Mln/tael Posted: 20 Jan 2011 10:39 PM PST Local gold prices on January 21 morning fell for the second straight day to VND35.28million/tael, down VND300,000 from yesterday as global gold prices shed to its weakest since Nov. 19. At 8:39 a.m., Sacombank-SBJ in Ho Chi Minh was listed at VND35.18million/tael and VND35.28million/tael for bid and ask, respectively. Bid and ask of Thang Long gold bullion, [...]

VietBank raises Dollar deposit interest rates to 6.2% Posted: 20 Jan 2011 10:39 PM PST Vietnam Joint Stock Commercial Bank (VietBank) has raised dollar deposit interest rates up to 6.2% p.a., applicable from January 19, the local newswire Sai Gon Tiep Thi reported. The lender offers an interest rate of 6% p.a. for any one-month deposits of at least $200, and 6.2% p.a. for any deposits of at least $25,000 for [...]

Jan 21: Vietnam stocks rise full week but fail to test 520 Posted: 20 Jan 2011 10:38 PM PST Vietnamese stocks extended their gaining streak to eight days in the row but the benchmark failed to test 520 threshold though rising momentum sustained with support from heavy-weighed blue chips. The benchmark VN Index gained 7.52 points or 1.46% to 519.5. Volume rose 14% to 46.99 million shares traded for VND 1.272 trillion compared with 41.2 [...]

Foreign banks on scale in Vietnam Posted: 20 Jan 2011 06:57 PM PST After four years of Vietnam's WTO entry, foreign investors marked a spread enter in Vietnamese market, and since Jan 1, they have more operation rights, the Saigon Tiep Thi Magazine reported. The face showed that banking service products had been more diversified. Before 2007, the terms such as internet banking, home banking, SMS banking, mobile banking, [...]

Vietnam bonds fall on speculation inflation may fall this month Posted: 20 Jan 2011 06:56 PM PST Vietnam's benchmark five-year bonds gained, with the yield dropping the most in a week on speculation inflation this month would be lower than anticipated. The dong was steady. "The consumer price index is expected to fall to 1.6 percent this month from 1.98 percent in December," said Luu Hai Yen, an analyst at Thang Long Securities [...]

Banks ordered to suspend service of converting into $2 banknote Posted: 20 Jan 2011 06:55 PM PST The State Bank of Vietnam, the country's central bank has ordered some banks to suspend the service of converting into $2 banknote for lucky money in Lunar New Year, the Dau Tu newspaper reported. Usually, at year end, the market is busy with service of converting small changes for lucky money in Lunar New Year. This [...]

Vietnamese inflation may accelerate to 15pct, Credit Suisse says Posted: 20 Jan 2011 06:55 PM PST Vietnamese inflation may accelerate to as much as 15 percent, the highest level in two years, before slowing by the end of 2011, Credit Suisse Group AG said. Consumer-price growth may peak at 13 percent to 15 percent within “about three months,” Robert Prior-Wandesforde, the head of India and Southeast Asia economics at Credit Suisse, said [...]

Vietnam’s cement demand estimated at 56-57m tons in 2011 Posted: 20 Jan 2011 06:54 PM PST Vietnam Cement Association estimates that the country's cement demand will continue rising 9-10% in 2011 against 2010 to 56-57 million tons. This year, Vietnam’s cement industry will see extra 10 new plants put into operation with an estimated rise of 9 million tons in production, bringing total capacity to more than 60 million tons for domestic [...]

Vietnam coffee exporters told to stop underselling Posted: 20 Jan 2011 06:53 PM PST Coffee production in Vietnam may fall 10 percent this year to under one million tons, the Vietnam Coffee and Cocoa Association said, warning exporters against undercutting each other. Luong Van Tu, chairman of the association, said many local companies have been offering very low prices, hurting not only themselves but farmers and the whole coffee industry. He [...]

Vietnamese developer plans to buy US properties Posted: 20 Jan 2011 06:53 PM PST Local real estate and investment firm Tanimex said it will establish a joint venture with two other Vietnamese companies to do business in the US, mainly in the real estate sector. The joint venture, expected to be set up in California, will focus on real estate trading, said Tran Quang Truong, deputy general director of Tanimex. As [...]

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