Vietnam Business News

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• Vietnam Electricity to adjust pricing monthly
• Gold recedes from VND47 million
• Foreign investors eye property market
• Hoa Binh house joins hands with Rescon
• Vietnam’s banking outlook to stay negative, Moody’s says
• Vietnam bonds advance on plan to ease lending curbs; dong gains
• Coffee rises on Brazil, Vietnam stockpiles; sugar, cocoa gain
• Vietnam assigns government team to solve Tata plant deadlock
• Vietnam coffee said to be trading at a discount before record production

Vietnam Electricity to adjust pricing monthly Posted: 01 Sep 2011 02:40 AM PDT Vietnam Electricity plans to now base its monthly pricing by adjusting to the fluctuating costs of such factors as the US dollar exchange rate, changing fuel prices and also the power output level from its plant. Before the 20th of each month, Vietnam Electricity (EVN) will calculate the average power price as against its current [...]

Gold recedes from VND47 million Posted: 01 Sep 2011 02:39 AM PDT The price of gold in Vietnam lost by VND200,000 a tael (1.2 ounces) over the previous day on September 1 as global price retreated due to a rally in global stock market. Sacombank Jewelry Company bought the metal at VND46.44 million and sold at VND46.74 million as of 10:35 am local time. Saigon Jewelry Company, [...]

Foreign investors eye property market Posted: 01 Sep 2011 02:38 AM PDT Many foreign investors study opportunities of investing in real estate, and some buy into property projects developed by local companies. More local property developers dispose of their projects when they lack capital and can hardly sell products due to the market depression since 2008. Marc Townsend, chief executive officer of CB Richard Ellis (Vietnam), said [...]

Hoa Binh house joins hands with Rescon Posted: 01 Sep 2011 02:37 AM PDT Hoa Binh House Joint Stock Company (Hoa Binh House) on Tuesday joined hands with Saigon-Rescon Construction Consultant and Real Estate Business Joint Stock Company to open the first real estate trading floor of the two companies in the city. Hoa Binh–Resco trading floor, located at 254Bis on Nguyen Dinh Chieu Street in District 3, is [...]

Vietnam’s banking outlook to stay negative, Moody’s says Posted: 01 Sep 2011 02:36 AM PDT Vietnam's banking system outlook over the next 12 to 18 months remains negative, in line with the country's sovereign debt, Moody's Investors Service said, citing concerns about falling profits and poor asset quality. Domestic economic imbalances pose a risk to banks' asset quality and make funding more difficult, Moody's said in a report today. The [...]

Vietnam bonds advance on plan to ease lending curbs; dong gains Posted: 01 Sep 2011 02:36 AM PDT Vietnam's five-year bonds gained after the central bank said it would abolish a cap on bank lending. The dong rose. The State Bank of Vietnam will scrap a regulation that prevents commercial banks from lending more than 80 percent of their deposits from tomorrow, it said in a statement on its website late yesterday. The [...]

Coffee rises on Brazil, Vietnam stockpiles; sugar, cocoa gain Posted: 01 Sep 2011 02:35 AM PDT Coffee futures rose to the highest in more than three months in New York on signs of limited global supplies. Sugar and cocoa also climbed. World coffee exports fell to 7.35 million bags in July from 8.2 million bags a year earlier, the International Coffee Organization said today. Vietnam, the world's largest grower of the [...]

Vietnam assigns government team to solve Tata plant deadlock Posted: 01 Sep 2011 02:34 AM PDT Vietnam set up a group of central and provincial officials to help resolve land clearance and compensation issues that have delayed the construction of Tata Steel Ltd. (TATA)'s $5 billion project in the country. The group aims to work with officials at Tata Steel, India's largest producer of the alloy, to come up with a [...]

Vietnam coffee said to be trading at a discount before record production Posted: 01 Sep 2011 02:34 AM PDT Buyers are demanding a discount for Vietnam's coffee crop starting in October on speculation of record output, according to three people involved in the trade. The beans are trading at $70 to $90 a metric ton below the price on the NYSE Liffe exchange in London, according to the people, who declined to be identified [...]

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