Vietnam Business News

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• Banks launch promotional programs to avoid rule on ceiling deposit rate
• Vietnam sees 2011 trade gap at $14 bln-$14.5 bln
• Vietnam: rate cut rattles investors
• Vietnam money-high dong interest rates expected to ease slightly
• Deposit interest rates break cap to 16%
• State treasury sells vnd 21 tn government bonds in june
• Stock market exit door is hard to find
• Local businesses favor virtual offices amid economic turmoil
• High-end apartments to shrink in size
• Markets wait for policy signal

Banks launch promotional programs to avoid rule on ceiling deposit rate Posted: 04 Jul 2011 08:51 PM PDT Along with "underground" interest rates and investment mandate for customers, some banks are willing to consult and offer better methods to help depositors get more interests. A staff in transaction department of a Hanoi-based bank said that his bank was launching promotional programs for customers who deposit money overnight. Accordingly, the progressive interest rate for [...]

Vietnam sees 2011 trade gap at $14 bln-$14.5 bln Posted: 04 Jul 2011 08:49 PM PDT Vietnam’s trade deficit this year will widen to between $14 billion and $14.5 billion, up more than 10 percent from 2010, despite stronger-than-expected growth in export revenues, the government said. Exports would jump 17-18.4 % from last year to between $84.5 billion and $85.5 billion, following strong growth in the first half of the year, [...]

Vietnam: rate cut rattles investors Posted: 04 Jul 2011 08:48 PM PDT Vietnam's central bank has cut interest rates for the first time this cycle, sparking fears among investors that the government may renege on its recent pledge to favour the fight against inflation over growth. A rapid expansion in credit, much of it bound for inefficient state-owned companies, has destabilised Vietnam's rapidly growing economy in recent [...]

Vietnam money-high dong interest rates expected to ease slightly Posted: 04 Jul 2011 08:47 PM PDT Vietnamese banks’ high dong interest rates are expected to cool slightly due to improved liquidity as the central bank cut one of its key rates to tackle distorted rate-levels, bankers said on Monday. On Monday, the central bank lowered the cost of funds for banks via open market operations, cutting the reverse repo rate to [...]

Deposit interest rates break cap to 16% Posted: 04 Jul 2011 08:47 PM PDT Deposit interest rates at a local commercial bank breached the cap to 16% p.a., the local newswire Gafin cited a report on VTV1 channel yesterday without naming this lender. The cap break may attribute to the fact that the banks have faced dollar shortage on lending up to 140-150% of total dollar deposits, the local [...]

State treasury sells vnd 21 tn government bonds in june Posted: 04 Jul 2011 08:46 PM PDT State Treasury raised VND 21.05 trillion from selling Government bonds in June, making up 50% of Government bond proceeds in the first six months of the year and exceeding those in Q1/2011 (VND 16 trillion), the local newswire Gafin.vn reported. State Treasury raised VND 21.05 trillion from selling Government bonds in June, making up 50% [...]

Stock market exit door is hard to find Posted: 04 Jul 2011 08:46 PM PDT Big investors are facing big hurdles to divest investments amid the declining local market. A foreign investment fund, which focuses on small listed companies, in February had exited just four out of 10 investments Big investors are facing big hurdles to divest investments amid the declining local market. A foreign investment fund, which focuses on [...]

Local businesses favor virtual offices amid economic turmoil Posted: 04 Jul 2011 08:45 PM PDT Economic slowdown combined with Ho Chi Minh City's skyrocketing office rents have forced many businesses to opt for virtual offices. Nguyen Huu Huan, director of a HCMC-based building material supplier, told Dau Tu Tai Chinh Newspaper that he had rented a virtual office since his business started to slow down in the last couple months. [...]

High-end apartments to shrink in size Posted: 04 Jul 2011 08:45 PM PDT Looking at the current market trend, high-end apartment projects are facing more challenges in finding buyers given local property market difficulties as well as prices of high-end apartments going beyond many buyers' budgets. Developers in the segment, though, are not getting too downhearted and have created different ways to get their sales moving in a [...]

Markets wait for policy signal Posted: 04 Jul 2011 08:41 PM PDT The trend on the nation’s stock markets this week will greatly depend on signals sent by Government and central bank policies, rather than the second-quarter earnings reports of listed companies, market insiders say. Late last week, the Government adjusted its inflation forecast for the year to 17-18 per cent – the second time it has [...]

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