Vietnam Business News

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• Kim Long Securities exit plan serves notice to stock market: experts
• DongA Bank plans to list on stock exchange in late 2011
• Vietnam PM confirms intention to end unofficial gold trade
• Interbank average forex rate climbs to 20,673 dong/US dollar on Mar 19

Kim Long Securities exit plan serves notice to stock market: experts Posted: 19 Mar 2011 06:29 AM PDT A plan by Kim Long Securities to exit the brokerage business is sending a message to other firms: Don't stick to the market if your securities services are making losses. Established in 2006 with a registered capital of 18 billion dong (US$863,000), the Hanoi-based company soon became popular among stock market players. Its capital was [...]

DongA Bank plans to list on stock exchange in late 2011 Posted: 19 Mar 2011 06:28 AM PDT East Asia Commercial JS Bank (DongA Bank ‐ EAB) has lately approved the plan of officially listing shares on the stock exchange by the end of this year, after the bank raises its chartered capital from 4.5 trillion dong to 6 trillion dong. The decision was given after the shareholders meeting held recently. The bank [...]

Vietnam PM confirms intention to end unofficial gold trade Posted: 19 Mar 2011 06:27 AM PDT The Vietnamese Prime Minister Nguyen Tan Dung reaffirmed that the government will seek to eliminate the unofficial trade of gold bullion and tighten controls over foreign currency transactions. Illegal US dollar trading activities will be punished strictly, he said at a government meeting on Tuesday (March 15). The government's measures unveiled last month to tackle [...]

Interbank average forex rate climbs to 20,673 dong/US dollar on Mar 19 Posted: 19 Mar 2011 06:27 AM PDT The State Bank of Vietnam (SBV) has announced to adjust the interbank average forex rate whereby the dong/US dollar FX rate today (March 19) will increase 10 dong from yesterday (March 18) to 20,673 dong. With the interbank average forex rate of 20,673 dong/US dollar, the ceiling FX rate at commercial banks today (March 19) [...]

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