Vietnam Business News

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• Vietnam plans to auction vnd2-4 tln government bonds/session in q3/2011
• Vietnam gold prices hit vnd40.9mln/tael, dollar stable
• Vung Tau maritime port authorities denounced of hampering enterprises
• Open policies required to control gold fluctuation, says expert
• Thai rice dealers warn against gov’t price hike
• Vietnam’s PV Oil sells first ‘white rhino’ crude cargo to vitol
• Hydropower plants’ dams will turn Mekong Delta into desert
• Vietnam’s bonds advance as interbank rates fall; dong weakens
• Banks’ business ethics eroding
• Vinashin subsidiary hands over 6,500 DWT cargo ship

Vietnam plans to auction vnd2-4 tln government bonds/session in q3/2011 Posted: 03 Aug 2011 01:04 AM PDT The Hanoi Stock Exchange announced the timetable of issuing treasury bonds in the third quarter as follows: 1. Government bond auction organized by the State Bank of Vietnam: auctions will be held on Monday of the first and the third weeks each month with VND1 trillion – VND2 trillion bonds offered in each session. 2. [...]

Vietnam gold prices hit vnd40.9mln/tael, dollar stable Posted: 03 Aug 2011 01:04 AM PDT Vietnam gold prices soared VND0.8 million to VND40.9 million a tael, highest of all time, following suit global market trend while dollar prices were firm for 22 consecutive days. As of 10:40 Hanoi time, Sacombank-SJC gold as listed at VND40.85million/tael and VND40.95million/tael for bid and ask, respectively. Bid and ask of Thang Long gold bullion, [...]

Vung Tau maritime port authorities denounced of hampering enterprises Posted: 03 Aug 2011 01:03 AM PDT Some enterprises, which provide ship towing services in Vung Tau City, complain that they are "more dead than alive" because of the difficulties the Vung Tau port authorities put for them. While other enterprises have to struggle to exist, Bien Xanh Transport Company and the Vung Tau Towing Company (VTT) have been developing well. According [...]

Open policies required to control gold fluctuation, says expert Posted: 02 Aug 2011 11:24 PM PDT Open and market-oriented policies will put gold under control, says director Tran Trong Quoc Khanh of a gold shop of the Asia Commercial Bank. "Vietnam's gold follows the global move. Yet there is still a gap between them as the domestic and international markets are not connected with each others," Khanh says in an interview [...]

Thai rice dealers warn against gov’t price hike Posted: 02 Aug 2011 09:09 PM PDT Thai rice exporters are looking for alternative sources of supply in Viet Nam and Cambodia in case the new government makes prices too high for export. The Thai Rice Exporters Association (TREA) has been crying foul about the newly-elected Pheu Thai’s announced policy to allow farmers to mortgage their entire harvest for 15,000 baht (US$500) [...]

Vietnam’s PV Oil sells first ‘white rhino’ crude cargo to vitol Posted: 02 Aug 2011 09:04 PM PDT PV Oil Co., Vietnam's state-owned oil marketing company, sold a cargo of its Te Giac Trang crude to Vitol Group for September loading, said two traders who participate in the market. This is the first sale of the grade. Details of the sale are as follows: ———————————————————– Crude: Te Giac Trang or White Rhino (Vietnam) [...]

Hydropower plants’ dams will turn Mekong Delta into desert Posted: 02 Aug 2011 08:56 PM PDT Mekong River Delta may turn into a desert sea if 12 dams for hydropower plants are built on the river upstream, according to Nguyen Huu Thien, MA, an independent researcher about the possible impacts on the ecosystem of Mekong Delta. Rivers would die, sea would swallow Mekong River Delta The Mekong Delta, with the length [...]

Vietnam’s bonds advance as interbank rates fall; dong weakens Posted: 02 Aug 2011 08:55 PM PDT Vietnam's government bonds rose after the benchmark money-market rate fell to the lowest level in almost a month, signaling banks may have more cash to invest in debt. The dong dropped. The overnight interbank deposit rate declined five basis points, or 0.05 percentage point, to 11.95 percent, the lowest since July 6, according to data [...]

Banks’ business ethics eroding Posted: 02 Aug 2011 08:52 PM PDT A lot of banks reported fat profits for the first six months of the year, while enterprises have to struggle hard to survive the current difficulties. Doubts have been raised about the banks' business ethics and the fairness of the management policies. According to the State Bank of Vietnam, the total outstanding loans of the [...]

Vinashin subsidiary hands over 6,500 DWT cargo ship Posted: 02 Aug 2011 08:51 PM PDT The Bach Dang Shipbuilding Industry Corp on August 1 handed over a cargo ship to its client, the Northern Shipping Joint Stock Company (Nosco). The 6,500 DWT ship is one of the twenty ships that the company is building for Nosco's parent company, the Vietnam National Shipping Lines. The 102.79m long and 17m wide ship [...]

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