Vietnam Business News
Vietnam Business News |
- ERGO Insurance becomes GIC’s strategic partner
- Vietnam ODA disbursement estimated to reach $125Mln in Jan-Feb
- Blue chips bolster markets
- Imports, exports both decline
- Vietnam to close bullion trading in free market
- Vietnam net FII soars to $1Bln in 2010
- Phu Yen province asks for suspending UAE’s super project
- Petrol hike sends stocks crashing
- PetroVietnam Securities gets Japanese partner
- Irish businesses seek opportunities in VN
| ERGO Insurance becomes GIC’s strategic partner Posted: 24 Feb 2011 11:07 PM PST Vietnam's Global Insurance Company or GIC early this week announced the execution of a strategic investment agreement with ERGO Insurance Group with the acquisition of 10 million shares or a 25 per cent of GIC's stake. In total, the proposed transaction would be valued at approximately VND380 billion ($18.3 million), not including knowhow transfer and [...]
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| Vietnam ODA disbursement estimated to reach $125Mln in Jan-Feb Posted: 24 Feb 2011 11:06 PM PST Vietnam is estimated to have disbursed $125 million funds provided in forms of the official development assistance (ODA Vietnam is estimated to have disbursed $125 million funds provided in forms of the official development assistance (ODA), including $98 million borrowing capital and $27 million non-refundable grants in the first two months of this year. The [...]
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| Posted: 24 Feb 2011 09:37 PM PST Stocks rose again this morning on both of Viet Nam’s markets, despite a slight decline in market liquidity. The VN-Index in HCM City ended the session at 466.96 points, a gain of 1.23 per cent. Gainers outnumbered losers by 189-89. Blue chips performed solidly, with nine of the 10 largest capitalised stocks gaining ground. Masan [...]
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| Posted: 24 Feb 2011 09:37 PM PST Viet Nam’s export turnover was estimated at US$5.25 billion in February, a decline of 26 per cent in comparison with the previous month’s figure, the General Statistics Office (GSO) announced yesterday. The country’s import turnover hit $6.2 billion in February, a decline of 22 per cent, earmarking the second consecutive month the trade deficit has [...]
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| Vietnam to close bullion trading in free market Posted: 24 Feb 2011 09:34 PM PST Vietnam will wipe off bullion gold trading activities as part of its package to stabilize the macro-economy and ensure social welfares, according to the Government's Resolution released on February 24. The Government has assigned the State Bank of Vietnam (SBV) to prepare documents for a Decree on gold trading regulation with the target of one [...]
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| Vietnam net FII soars to $1Bln in 2010 Posted: 24 Feb 2011 09:34 PM PST Net Foreign Indirect Investment (FII) in Vietnam sharply rose to $1 billion in 2010 after net-outflows of roughly $2 billion in 2008 and $230 million in 2009 Net Foreign Indirect Investment (FII) in Vietnam sharply rose to $1 billion in 2010 after net-outflows of roughly $2 billion in 2008 and $230 million in 2009, Tran [...]
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| Phu Yen province asks for suspending UAE’s super project Posted: 24 Feb 2011 09:29 PM PST The southcentral province of Phu Yen has officially submitted to the Party Politburo a proposal to suspend a US$250 billion project of Sama Dubai Group from the United Arabic Emirates (UAE). Pham Dinh Cu, Chairman of the provincial People's Committee, said on February 24 that this proposal was based on the fact that the group [...]
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| Petrol hike sends stocks crashing Posted: 24 Feb 2011 07:28 PM PST Petrol prices rising to record highs yesterday morning sent stocks into a nosedive on both national stock exchanges. The price of petrol set as of 10am yesterday was set at VND19,300 per litre – a whopping 18 per cent increase and the steepest one-day increase since 2008. “The hike in petrol prices was forseeable,” said [...]
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| PetroVietnam Securities gets Japanese partner Posted: 24 Feb 2011 07:28 PM PST Japan’s Nikko Cordial Securities Inc became a strategic partner of PetroVietnam Securities Co yesterday, by acquiring a 14.9 per cent stake from a local brokerage. The acquisition was worth about VND133.7 billion (US$6.2 million), raising PetroVietnam Securities’ charter capital from VND509.3 billion ($23.5 million) to VND598.4 billion ($27.2 million). Via the acquisition, the first investment [...]
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| Irish businesses seek opportunities in VN Posted: 24 Feb 2011 07:27 PM PST Representatives of Irish businesses yesterday expressed hopes of fostering co-operation with Vietnamese firms in the fields of construction, engineering and consulting, during a business conference held yesterday in Ha Noi. “We are seeking strong local producers to grow our presence in Viet Nam and throughout Southest Asia,” said David Tyndall, general manager of Kingspan SE [...]
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