Wednesday, February 16, 2011

Vietnam Business News

Vietnam Business News

Feb 16: Vietnam gold, Dollar extend rally, trading active

Posted: 15 Feb 2011 11:56 PM PST

Local gold prices on February 16 continued to surge as global prices extended gains for a second day in a row last night in the New York, local dollar inched up to VND21,850 this morning. As of 14:00 Hanoi time, Sacombank-SBJ gold as listed at VND36.58 million/tael and VND36.64 million/tael for bid and ask, respectively. Bid [...]


Vietnam Dong gains as reference rate down to VND20,698

Posted: 15 Feb 2011 11:55 PM PST

Vietnam's dong on February 16 gained as the State Bank of Vietnam (SBV) strengthened its reference rate's midpoint to VND20,698 from VND20,703 yesterday, the central bank's data showed. Given the latest midpoint rate, the dollar prices could move between 20,491 and 20,905 in interbank transactions, within the central bank-imposed daily trading band of +/-1%. Dollar prices were [...]


Feb 16: VN Index falls on local selling

Posted: 15 Feb 2011 11:54 PM PST

Feb 16: VN Index falls on local sellingVietnam stocks turned tail to post loss as local investors continued to sell on fears of high inflation and blue chips failed to gather steam. The benchmark VN Index lost 4.76 points or 0.91% to close at 513.11. Volume was down to 30 million shares traded for VND748.54 billion [...]


Feb 16: VN Index falls on local selling

Posted: 15 Feb 2011 11:53 PM PST

Vietnam stocks turned tail to post loss as local investors continued to sell on fears of high inflation and blue chips failed to gather steam. The benchmark VN Index lost 4.76 points or 0.91% to close at 513.11. Volume was down to 30 million shares traded for VND748.54 billion compared with 34.4 million shares yesterday. It is [...]


Vietnam state budget deficit estimated at 4% year-plan by mid-Oct

Posted: 15 Feb 2011 11:51 PM PST

Vietnam's state budget deficit is estimated to account for 4% of the plan for the year by mid-Jan Vietnam's state budget deficit is estimated to account for 4% of the plan for the year by mid-Jan, the General Statistics Office of Vietnam(GSO) said. The biggest sources of the state budget revenue came from domestic taxes with 4.4% [...]


Inflation and exchange rates: two hot issues in 2011

Posted: 15 Feb 2011 11:50 PM PST

Exchange rates and inflation will continue to be two burning issues for Vietnamese macroeconomics in 2011, the local newswire Sai Gon Tiep Thi reported February 16, citing senior officials in a recent meeting. "The problem of exchange rates will put pressures on other balances and on inflation", said Vu Viet Ngoan, Vice Chairman of the National [...]


Vietnam, Egypt trade declines

Posted: 15 Feb 2011 11:48 PM PST

The political crisis in Egypt has affected its economy and trade exchanges with other countries, including Vietnam. Excerpts from VOV interview with Vietnam’s commercial counsellor to Egypt Phan Quang Minh. VOV: Could you tell us about the impact of crisis on the trade exchanges between Vietnam and Egypt? Phan Minh Quang: The crisis in Egypt has strongly [...]


Labour shortages after Tet: a serious problem

Posted: 15 Feb 2011 11:47 PM PST

Labour shortages after the Lunar New Year holiday remain a serious problem that Vietnamese businesses have faced for many years. Severe labour shortage in the industrial and processing zones of Ho Chi Minh City are estimated at 30-35 percent, while each business in Binh Duong and Dong Nai lacks 200-400 workers. According to the Vietnam Textile and [...]


SOEs have too many owners: experts

Posted: 15 Feb 2011 11:46 PM PST

"It is good news that Vietnam's national economy is recovering after a downturn, but I don't think that the recent achievements are because we have successfully fixed the problems of the economy", noted former Minister of Planning and Investment Tran Xuan Gia. In a recent interview with Thoi Bao Kinh Te Vietnam, he said: "The biggest problems [...]


Market prices fluctuate on dong depreciation

Posted: 15 Feb 2011 11:45 PM PST

The domestic market has noted sharp changes after the central bank adjusted up the inter-bank rate by 9.3% and narrowed the trading band for the dong to 1% from 3% previously, reporting many commodity prices up strongly while others remained unchanged. Cooking gas jumped in prices right after the adjustment became effective Friday. Cooking gas prices [...]


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