Vietnam Business News

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• Gold reaches VND38.3 million in Vietnam
• Plan to shut old factories making building-materials
• Agricultural insurance to take root
• Asian community projects go online
• Regulators vow sufficient electrical supply
• Weak apartment market in vietnam
• Vietnam retail property still strong amid downturn
• July 12: vietnam stocks close mixed as hnx rises on late trading
• Some investors make hay while sun hides
• Market forecast to move in narrow range this week

Gold reaches VND38.3 million in Vietnam Posted: 12 Jul 2011 07:02 PM PDT The price of gold in Vietnam surged to nearly VND38.3 million a tael (1.2 ounces) on July 12 as concerns that Italy will be the next country to face sovereign-debt crisis boosted global price to climb for seven consecutive trading sessions to the highest level in two months. Sacombank Jewelry Company purchased gold at VND38.16 [...]

Plan to shut old factories making building-materials Posted: 12 Jul 2011 07:01 PM PDT Ho Chi Minh City ‘s Department of Construction has targeted eliminating ineffective building-materials production establishments by 2020. This is one of the main objectives of the city’s VND1.67 trillion building-materials development plan for the 2011-20 period. To realise this goal, the city will close all establishments that produce clay bricks and roofing tiles with rudimentary [...]

Agricultural insurance to take root Posted: 12 Jul 2011 07:01 PM PDT Agricultural insurance has triggered a great deal of concern among insurers and the beneficiaries though its trial application now underway in 21 provinces and municipalities. Bao Minh Insurance Joint Stock Corporation's professional services director Nguyen Van Minh sheds some light on the pilot programme. Agricultural insurance was formerly handled by scores of insurers but all [...]

Asian community projects go online Posted: 12 Jul 2011 07:00 PM PDT An online resource centre has been launched in Vietnamese and English to provide information on the progress of community-based projects. Thirty agencies and organisations from 20 countries are contributing to the website. Major topics of interest are education and development, child health, domestic violence, hunger eradication, poverty reduction, HIV/AIDS, traffic congestion and global warming. The [...]

Regulators vow sufficient electrical supply Posted: 12 Jul 2011 06:59 PM PDT The total output of electricity for the rest of the year is scheduled to be 3 – 10 per cent higher than expected, meeting the country’s power demand, according to the Electricity Regulatory Authority of Vietnam (ERAV). Electricity of Vietnam (EVN) said many hydropower plants began operating during the first half of this year, including [...]

Weak apartment market in vietnam Posted: 12 Jul 2011 06:58 PM PDT Foreign real estate services providers in Vietnam agreed that the market of apartment for sale in Ho Chi Minh City continues to experience difficulty because of weak demand in the second quarter. Demand is currently being restricted by the availability of mortgages, especially from Vietnamese lenders. This underlying demand is expected to be unleashed as [...]

Vietnam retail property still strong amid downturn Posted: 12 Jul 2011 06:58 PM PDT The retail property market, unlike other asset classes, has managed to buck the downward trend, according to global property consultant Knight Frank. The performance of the retail market in Hanoi is generally stable thanks to a strong demand, the firm said on Thursday. The firm found that occupancy of retail space in Hanoi’s central business [...]

July 12: vietnam stocks close mixed as hnx rises on late trading Posted: 12 Jul 2011 06:57 PM PDT Vietnam's stocks split today when VN Index closed deep down in the negative ground on risk aversion but HNX resurfaced on late trading, driven by speculative shares. The benchmark VN Index lost 7.84 points or 1.84% to 417.25. Volume rose 50% to 32.2 million shares worth VND644.4 billion, including 14.14 million shares worth VND333.97 billion [...]

Some investors make hay while sun hides Posted: 12 Jul 2011 06:56 PM PDT Few foreign investors are buying stakes in Vietnamese enterprises' at high prices amid the local stock market falls. At the end of May, the local market was surprised by the deal Streetcar Investment Holding purchasing five million Halico shares at VND213,600 per share, more than double the market price of some VND100,000 and more than [...]

Market forecast to move in narrow range this week Posted: 12 Jul 2011 06:56 PM PDT Securities brokers predicted the market would seesaw in a narrow range again or slightly decline as they have yet to see signs of short-term recovery and investor sentiment remains dampened. With three rising and two falling sessions, the VN-Index ended last week at 430.32, up 5.03 points, or 1.18%, from the week earlier. Liquidity dropped [...]

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