Vietnam Business News

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• Domestic coffee prices settle at VND43,200/Kg
• Former governor refutes buzz of gold, Dollar rocket
• Hanoi CPI jumps by 1.98% in Feb 2011: GSO
• Average overnight interest rate edges up to 10.39%
• Vietnam devaluation negative for banks -Moody’s
• Doggy Dong fears
• Doggy Dong fears
• Equity hunt on to help FDI aims
• Plastic reigns supreme in Vietnam
• US firms fined for exporting electronic waste to Vietnam

Domestic coffee prices settle at VND43,200/Kg Posted: 21 Feb 2011 01:25 AM PST The domestic coffee prices hit the highest level in 4 years of VND43,200/kg in Vietnam's Central Highland provinces, increasing VND1,500/kg from the last week The domestic coffee prices hit the highest level in 4 years of VND43,200/kg in Vietnam's Central Highland provinces, increasing VND1,500/kg from the last week, the online newspaper DVT reported on February 21,citing [...]

Former governor refutes buzz of gold, Dollar rocket Posted: 21 Feb 2011 01:24 AM PST Cao Sy Kiem, the central bank's Former Governor refuted the possibility in the market rumor that local gold prices could soar to VND40million/tael, and dollar prices up to VND25,000 , reasoning no surge in domestic demand of gold and dollars. The recent gold, dollar turbulences attributed to the market sentiment and rumors, Kiem cited economists, warning [...]

Hanoi CPI jumps by 1.98% in Feb 2011: GSO Posted: 21 Feb 2011 01:24 AM PST Hanoi consumer price index (CPI) is estimated to have increased by 1.98% on-month in the second month of 2011 driven by the peak consumption season on a long Tet holiday. Hanoi consumer price index (CPI) is estimated to have increased by 1.98% on-month in the second month of 2011 driven by the peak consumption season on [...]

Average overnight interest rate edges up to 10.39% Posted: 21 Feb 2011 01:23 AM PST The average overnight interest rate on February 18 edged up to 10.39% p.a. from 10.35% p.a. 2 days ago, according to the State Bank of Vietnam (SBV)'s data. Average inter-bank interest rates for two-week and 3-month terms also rose to 12.98% p.a. and 13.5% p.a., respectively, representing corresponding increases of 0.25% and 0.31%. However, average inter-bank interest [...]

Vietnam devaluation negative for banks -Moody’s Posted: 21 Feb 2011 01:23 AM PST Vietnam’s large currency devaluation this month will likely weaken asset quality at the country’s banks, while exacerbating liquidity management problems, Moody’s Investors Service said on Monday. A depreciating dong and heightened concerns about asset quality would delay banks’ plans to sell shares to foreign strategic investors, it said in a statement. The State Bank of Vietnam devalued [...]

Doggy Dong fears Posted: 21 Feb 2011 12:16 AM PST The recent depreciation of the Vietnamese dong is likely to hammer the high-end apartment market. Doan Chi Thanh, director of Ho Chi Minh City-based Hoang Anh property firm, said buyers of high-end apartments would be the first losers of the Vietnamese dong's recent depreciation of 9.3% against the US dollar. Although the State Bank forbids investors to [...]

Doggy Dong fears Posted: 21 Feb 2011 12:15 AM PST The recent depreciation of the Vietnamese dong is likely to hammer the high-end apartment market. Doan Chi Thanh, director of Ho Chi Minh City-based Hoang Anh property firm, said buyers of high-end apartments would be the first losers of the Vietnamese dong's recent depreciation of 9.3% against the US dollar. Although the State Bank forbids investors to [...]

Equity hunt on to help FDI aims Posted: 21 Feb 2011 12:15 AM PST Foreign bank branches are raising their equity to fund foreign direct investment projects in Vietnam. The central bank last week announced its approval of Huanan Commercial Bank, Deutsche Bank AG and Overseas Chinese Banking Corporation to raise their registered capital in the country. Of which, Huanan Commercial Bank branch in Ho Chi Minh City will increase its [...]

Plastic reigns supreme in Vietnam Posted: 21 Feb 2011 12:14 AM PST Total card transactions made tremendous growth in Vietnam in 2010 against five years ago when the first one was conducted. A recent report from research firm Euromonitor International on Vietnam Financial Cards and Payments in 2010 read that total card transactions value in the country was reportedly around VND435.3 trillion ($21 billion) by the end of [...]

US firms fined for exporting electronic waste to Vietnam Posted: 20 Feb 2011 10:42 PM PST The US Environmental Protection Agency (EPA) has ordered Metro Metals Corp. and Avista Recycling, Inc. to pay a US$31,600 penalty for their attempt to illegally export computer waste to Vietnam. EPA said the two companies violated federal hazardous waste laws and requested them to properly dispose of computer waste they planned to illegally export from Minnesota [...]

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