Vietnam Business News
Vietnam Business News |
- Nation’s trade deficit roars back in August
- Bank may allow more gold imports
- Inflation eases on slowed demand
- Labour rules challenge small firms
- Low productivity holds back local companies
- Ha Noi authorities punish 75,000 cases of trade fraud
- Viet Nam Finance 2011 to be held in September
- Most shoppers ignore ‘tired, old’ promotions
- Vietnam central bank weakens dong by vnd10 to lowest level in 12 weeks
- Vietnam central bank buys $6bln since April
Nation’s trade deficit roars back in August Posted: 24 Aug 2011 12:11 AM PDT The General Statistics Office has estimated that the country had a trade deficit of US$800 million in August after gaining a trade surplus last month for the first time since 2009. According to the office’s preliminary statistics, export turnover in August decreased 10.9 per cent over the previous month to $8.3 billion. In contrast, imports [...] |
Bank may allow more gold imports Posted: 24 Aug 2011 12:10 AM PDT Nguyen Van Binh, governor of the State Bank of Viet Nam, announced yesterday that he would allow more bullion imports if necessary to stabilise the overheated domestic gold market and to keep prices stable. “Measures will be applied to control the distance between domestic and global prices, somewhere under VND400,000 (US$19.21) per tael,” Binh said, [...] |
Inflation eases on slowed demand Posted: 24 Aug 2011 12:10 AM PDT Lower market demand coupled with increased production of essential commodities has caused a drop in prices on food and foodstuff. The price reduction contributed to a lower consumer price index (CPI) in August, which hit only 0.68 per cent, according to a report in Tuoi Tre (The youth) newspaper. The city statistics office said the [...] |
Labour rules challenge small firms Posted: 24 Aug 2011 12:10 AM PDT Most Vietnamese enterprises are small- and medium-sized and do not have sufficient capacity to comply with the strict requirements of corporate social responsibility, according to Patrick J Gilabert, country representative of the UN’s Industrial Development Organisation (UNIDO). Speaking at a forum on labour relations yesterday in HCM City, Gilabert said that small- and medium-sized enterprises [...] |
Low productivity holds back local companies Posted: 24 Aug 2011 12:09 AM PDT A lack of ownership capital, low productivity and bad loan management have been blamed for Vietnamese businesses’ poor performance, according to a new credit index report. The 2011 report was compiled by the Credit Rating of Vietnam Joint Stock Company (CRV) in co-operation with the Presidential Office and the Viet Nam Chamber of Commerce and [...] |
Ha Noi authorities punish 75,000 cases of trade fraud Posted: 24 Aug 2011 12:09 AM PDT Ha Noi had punished nearly 75,000 cases of fraudulent trading over the past ten years, according to statistics released by city authorities at a conference on Tuesday. City inspectors uncovered more than 16,000 cases of banned goods, nearly 10,000 cases of fake and substandard goods, more than 30,000 cases of tax evasion and more than [...] |
Viet Nam Finance 2011 to be held in September Posted: 24 Aug 2011 12:08 AM PDT The 2011 Viet Nam Finance Conference and Exhibition themed “Restructure national finance: policy challenges, and linking and integrating tendency” would be kicked off in Ha Noi on September 28, organisers said at a press conference today. The eighth Viet Nam Finance, previously named Viet Nam ICT in Finance, will be co-organised by the Ministry of [...] |
Most shoppers ignore ‘tired, old’ promotions Posted: 24 Aug 2011 12:06 AM PDT 'Promotions’ have become increasingly irrelevant to a modernising and dynamic shopping environment, according to a G2/Grey Group 2011 Eye on Asia Retail study. Accordingly, 62 per cent of Asian shoppers rarely base their decisions on promotions while 40 per cent of the remaining 38 per cent shop entirely based on their own whims. “Traditional in-store [...] |
Vietnam central bank weakens dong by vnd10 to lowest level in 12 weeks Posted: 24 Aug 2011 12:03 AM PDT Vietnam’s central bank weakened the dong by further VND10 to VND20,628 a dollar mid-point rate on August 24, the lowest level since June 7 after keeping it unchanged for 12 days. The move following an downward adjustment of VND10 on August 10, extending the dong fall of 0.97% so far in August. Commercial banks are [...] |
Vietnam central bank buys $6bln since April Posted: 24 Aug 2011 12:02 AM PDT The governor of the State Bank of Vietnam, the country's central bank, said yesterday (August 23) that the SBV has bought $6 billion since April to increase the country's forex reserve. Governor Nguyen Van Binh said the national forex reserve has increased significantly and the central bank is now in the position to intervene and [...] |
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