Saturday, August 6, 2011

Vietnam Business News

Vietnam Business News

Gold prices set fresh record: VND41.55 mln

Posted: 06 Aug 2011 01:35 AM PDT

Domestic gold price as of 4:30 pm set a fresh all-time record at VND41.55 million a tael after its world counterpart skyrocketed to $1,667 an ounce. It has marked a continuous upward trend for 2 consecutive days even when its international peer remained stable for a while. The price surged VND300,000 a tael to VND41.4 [...]


Vietnam’s gold prices skyrocket along with global trend

Posted: 06 Aug 2011 01:33 AM PDT

Vietnam’s average gold prices closed at 41.44 million Vietnamese dong (VND) (2,014 U.S. dollars) a tael, equivalent to 1.2 ounce on Friday, posting the ever highest record and an increase of 50,000 VND (2.43 U.S. dollars) a tael against the previous trading session. In the capital city Hanoi, the Bao tin Minh Chau gold trading [...]


Gold not to retreat below vnd40 mil per tael, say experts

Posted: 05 Aug 2011 05:00 PM PDT

Domestic gold prices remain on a rising trend on Thursday, following a gaining streak in world prices. The increase shows no sign of retreating as investors do not cash in on the current move of the precious metal, financial experts say. At local gold shops, the precious metal traded at a fresh record high of [...]


Vegetable shortage raises prices in Hanoi

Posted: 05 Aug 2011 09:57 AM PDT

Bad weather conditions coupled with heavy infestation of pests in vegetables has caused prices to rise as well as create a supply deficit in markets in Hanoi, as per the Department of Industry and Trade. The recent two very severe storms in the Northern Provinces caused heavy flooding in many parts, especially in the fertile [...]


Price subsidies help increase dairy profits

Posted: 05 Aug 2011 09:56 AM PDT

Two Vietnamese dairy companies, Vinamilk and Nutifood have reported an increase in their turnover by 30 percent during the last two months, under the Government price subsidized program. Nguyen Dang Thao, director of Co-op Mart supermarket on Cong Quynh Street in District 1 stated that the two companies showed marginally high profits whilst foreign brands [...]


Australia places priority on economic ties with Vietnam

Posted: 05 Aug 2011 09:56 AM PDT

Australia's Trade Minister Craig Emerson has named Vietnam among several Asian countries as his priority in fostering economic relations. The Australian Broadcasting Corporation (ABC) on August 4 cited the minister as saying that he would be putting most of his efforts into developing relations with China, India, Indonesia, the Republic of Korea, Japan, Vietnam and [...]


Jan-Jul seafood exports up almost 25%, exceed $3 bln

Posted: 05 Aug 2011 09:55 AM PDT

Vietnam posted its January-July export revenue from aqua-products at US$3.1 billion, rising by 24.8 percent over the same period last year, according to VASEP — the country’s Association of Seafood Exporters and Producers. A VASEP update report said July's aqua-product export revenue was about US$500 million. The report said shipments to large markets have increased [...]


Foreign investors more cautious about property market

Posted: 05 Aug 2011 09:52 AM PDT

Experts at real estate consulting companies are of the opinion that foreign companies are taking more careful steps towards Vietnam's real estate market Experts at real estate consulting companies are of the opinion that foreign companies are taking more careful steps towards Vietnam's real estate market due to its current limbo, though some of them [...]


Discount rates may force funds to divest

Posted: 05 Aug 2011 09:51 AM PDT

Viet Nam’s stock market was attractive for investment in terms of valuation, but high discount rates at many investment funds hindered these funds from raising capital overseas, said Dragon Capital’s General Director Dominic Scriven. Discount rates (the different percentage between market price and net asset value per fund certificate) of four listed fund certificates, including [...]


SSC proposes to delay soes’ capital withdrawal plans

Posted: 05 Aug 2011 09:51 AM PDT

The State Securities Commission (SSC) and the National Finance Supervision Council have proposed to delay the plans by state owned enterprises (SOEs) to withdraw capital from enterprises, The State Securities Commission (SSC) and the National Finance Supervision Council have proposed to delay the plans by state owned enterprises (SOEs) to withdraw capital from enterprises, stressing [...]


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