Vietnam Business News
Vietnam Business News |
- Transport plan for north gets the go-ahead
- High interest rate worrisome issue for the State Bank of Vietnam
- Vietnam’s stocks: cuchi commercial, Thien Nam trading import
- Steel ingot price increases
- Dealmaker Moelis to launch in Asia
- Vietnam banks cut gold deposits on falling demand
- VinaCapital Vietnam Opportunity Fund announces sale of its stake in Halico
- Over 80pct of ADB member countries subscribe to general capital increase
- Wood processing plants urged to join associations
- Adjusting exchange rate: the opportunity, the strand and the dog
| Transport plan for north gets the go-ahead Posted: 27 Jan 2011 10:53 PM PST Vietnam’s prime minister has approved a transport development plan for the northern economic region by 2020 with a view towards 2030. Under the decision, which will take effect from March. 10, the plan was drawn up to develop all the advantages the region has, as is located in the centre of the region and is a [...]
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| High interest rate worrisome issue for the State Bank of Vietnam Posted: 27 Jan 2011 10:46 PM PST Foreign exchange and gold markets are temporarily stable, but the excessively high interest rate is currently a worrisome issue for the State Bank of Vietnam (SBV) in the beginning of the year. Many firms expect that interest rates would fall by the end of the first quarter of 2011. However, it depends on the ability to [...]
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| Vietnam’s stocks: cuchi commercial, Thien Nam trading import Posted: 27 Jan 2011 10:44 PM PST Vietnam’s VN Index, the benchmark measure of the HCM City Stock Exchange, declined for a third day, retreating 0.1 percent to 501.25. Cuchi Commercial & Industrial Developing Investment Joint- Stock Co. (CCI VN), whose businesses include trading agricultural products, fuels, construction materials and properties, fell 3.4 percent to 20,000 dong. Net profit dropped to 1.9 billion [...]
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| Posted: 27 Jan 2011 10:43 PM PST Steel ingots’ price reached $670-690 per tonne, $40-50 per tonne higher than that quoted at the end of 2010. The price has spiralled $100 per tonne over that in November 2010. Steel scraps, used to produce steel ingots, also grew to $530-540 per tonne, up $30-40 per tonne compared to that in the fourth quarter of 2010, [...]
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| Dealmaker Moelis to launch in Asia Posted: 27 Jan 2011 10:41 PM PST Moelis & Co, an independent investment bank, said it acquired the Hong Kong-based Asia Pacific Advisers financial advisory firm in an effort to gain a foothold in Asia. Moelis said the purchase further strengthens its capabilities in the Asia Pacific region by adding an established team in Hong Kong to complement the firm’s growing business in [...]
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| Vietnam banks cut gold deposits on falling demand Posted: 27 Jan 2011 10:40 PM PST Vietnam’s commercial banks have reduced their gold deposits in response to a new rule that prohibits them from lending the metal to gold bar traders. Since the passage of the new regulation, many banks have decided to stop luring long-term gold deposits,VnExpress reported Sunday. Asia Commercial Bank, for instance, now offers interest rates of between 0.65-1.1 percent [...]
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| VinaCapital Vietnam Opportunity Fund announces sale of its stake in Halico Posted: 27 Jan 2011 10:40 PM PST VinaCapital Vietnam Opportunity Fund Ltd on Wednesday announces the sale of its equity stake in Hanoi Liquor Joint Stock Co. to Diageo plc. (DGE.L). Under the deal, Diageo will pay $51.6 million in cash for VinaCapital Vietnam Opportunity Fund’s 23.6 percent stake in Halico. Proceeds from the sale will be booked to the company’s NAV as calculated [...]
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| Over 80pct of ADB member countries subscribe to general capital increase Posted: 27 Jan 2011 10:39 PM PST More than 80% of the Asian Development Bank’s (ADB) 67 member countries have subscribed to ADB’s Fifth General Capital Increase, with others likely to follow suit ahead of a newly extended subscription deadline. ADB’s Board of Directors agreed Wednesday to extend the Fifth General Capital Increase (GCI V) share subscription deadline by six months to 30 [...]
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| Wood processing plants urged to join associations Posted: 27 Jan 2011 10:17 PM PST Joining associations will help wood processing plants effectively address current impediments derived from material and labour scarcity. Not the lack of export orders but continual rising input costs has proven a headache to local wooden product manufacturers, said Ho Chi Minh City Handicraft and Wood Industry Association (HAWA) chairman Nguyen Chien Thang. Thang said that profit margins [...]
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| Adjusting exchange rate: the opportunity, the strand and the dog Posted: 27 Jan 2011 10:15 PM PST "Vietnam will not adjust the dong/dollar exchange rate before Tet" was the message released by the Chair of the National Financial Supervision Council three months ago, in October 2010. For the last three months, the gap between the exchange rate quoted by commercial bank and the exchange rate on the black market has been 7-10 percent. [...]
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