Vietnam Business News

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• Carrick Gold broad gold hits including 32m at 2.87g/t at Kurnalpi near Kalgoorlie
• Gold prices drop, transactions low
• Dong deposits at banks surge on gold sale
• Market remain lackluster, securities companies incur loss in masses
• Trade pacts assist firms in honing competitive edge
• Rumours suggest Sacombank may be takeover target
• Inflation soars in two largest cities
• Business confidence plummets in second quarter
• Investors want securities tax reduced
• Rice export contracts signed

Carrick Gold broad gold hits including 32m at 2.87g/t at Kurnalpi near Kalgoorlie Posted: 21 Jul 2011 01:08 AM PDT Carrick Gold’s (ASX: CRK) latest results from Kurnalpi provide the company with added confidence for the upcoming reserve estimates. The highlight was 14 metres at 4.85 grams per tonne (g/t) gold, which included the bonanza grade one metre intersection of above 30g/t gold. Kurnalpi is also providing Carrick with some much broader intersections, including 34 [...]

Gold prices drop, transactions low Posted: 21 Jul 2011 01:06 AM PDT World gold prices have decreased from a record high as the rates in Vietnam similarly on Wednesday morning dropped by VND190,000 to VND39.35 million per tael. At 1pm, the price nudged up to VND39.38 million. Transactions volumes are low as people are both reluctant to sell and buy. On Tuesday morning, domestic gold prices skyrocketed [...]

Dong deposits at banks surge on gold sale Posted: 21 Jul 2011 12:17 AM PDT Local commercial banks have recently attracted a huge amount of dong deposits as the public sold gold at all-time high prices and deposit the dong, the local newswire VnExpress reported. Local commercial banks have recently attracted a huge amount of dong deposits as the public sold gold at all-time high prices and deposit the dong, [...]

Market remain lackluster, securities companies incur loss in masses Posted: 21 Jul 2011 12:16 AM PDT A Ministry of Finance's report which has been released recently shows that most of the securities companies incurred loss in the first six months of the year, which is not a surprise to any one at all. The current economic difficulties have been badly affected all sectors and branches in the national economy, while securities [...]

Trade pacts assist firms in honing competitive edge Posted: 20 Jul 2011 09:08 PM PDT Viet Nam, having signed a series of Free Trade Agreements with Japan, China, the Republic of Korea, India, Australia and New Zealand to increase trade and investment opportunities, is negotiating FTAs with the EU. The Deputy Head of the Ministry of Industry and Trade’s Multilateral Trade Policy Department, Le Quang Lan, spoke to reporters in [...]

Rumours suggest Sacombank may be takeover target Posted: 20 Jul 2011 09:07 PM PDT Sacombank (STB), the fourth largest listed bank on the Vietnamese stock market, is rumoured to be the target of a takeover. Though its chairman Dang Van Thanh denied such a possibility, the recent movements around STB shares are drawing a lot of investor attention. Rumours started circulating around the end of June when more than [...]

Inflation soars in two largest cities Posted: 20 Jul 2011 09:07 PM PDT Ha Noi’s consumer price index (CPI) rose 1.32 per cent in July compared with the previous month, the city’s General Statistics Office (GSO) announced yesterday. According to the GSO, July’s dramatic increase in CPI was caused by the soaring prices of foodstuff (3.74 per cent) and eating out (2.73 per cent). Also, a shortage of [...]

Business confidence plummets in second quarter Posted: 20 Jul 2011 09:06 PM PDT The business confidence index (BCI) in the second quarter reached just 88 points, down 21 points against the previous quarter. It represents the biggest drop since the index was first adopted in Viet Nam in 2008. WVB Viet Nam Financial Intelligence Services (WVB FISL) surveyed 127 businesses in 11 primary sectors and industries in Viet [...]

Investors want securities tax reduced Posted: 20 Jul 2011 09:06 PM PDT Dividend and securities transfer taxes should be removed to encourage investors and help the stock market develop, said Viet Nam Association of Financial Investors. Association general secretary Nguyen Hoang Hai said only 30 per cent of idle cash from citizens had flowed into the domestic banks and securities markets compared to 100 per cent in [...]

Rice export contracts signed Posted: 20 Jul 2011 09:06 PM PDT Vietnamese exporters have signed contracts to export about 1.3 million tonnes of rice in the third quarter, according to the Viet Nam Food Association. In the second half this year, the country expects to sell 3.1 – 3.2 million tonnes of rice, bringing the total figure for the whole year to 7.4 million tonnes of [...]

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