Vietnam Business News |
- Gold sharply retreated to below VND48 million a tael
- Cement industry loses loan guarantees
- Stocks rise in short trading week
- National road set for upgrade
- Gold unexpectedly jumps over VND48 million
- Industrial park moves offset FDI downturn
- Calm heads prevail as the forex market to remain cool
- Thais put power plans on the table
- Cautious rate rise on cards
- Holiday shoppers boost sales
| Gold sharply retreated to below VND48 million a tael Posted: 04 Sep 2011 11:37 PM PDT The price of gold in Vietnam sharply retreated to below VND48 million a tael (1.2 ounces) on September 5 as buying demand weakened although global price slightly changed in the trading session this morning. Sacombank Jewelry Company bought the metal at VND47.51million and sold at VND47.79 million at 10:15 am local time. Saigon Jewelry Company, [...]
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| Cement industry loses loan guarantees Posted: 04 Sep 2011 09:09 PM PDT The Government will stop guaranteeing overseas borrowings by cement enterprises following a report by the State Auditing Agency that four companies are likely to default on repayment and have sought support from the Ministry of Finance. The Government had guaranteed foreign loans worth US$1.36 billion for 16 State-owned cement companies out of whom Dong Banh, [...]
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| Stocks rise in short trading week Posted: 04 Sep 2011 09:08 PM PDT Indices closed up on both national stock exchanges while trading values and volumes improved. Worries about the US economy continue to drag on markets worldwide, with US President Barack Obama scheduled to announce a new jobs package this week even as US consumer confidence fell in August to 44.5, its lowest level since April 2009. [...]
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| Posted: 04 Sep 2011 09:07 PM PDT The HCM City People’s Committee yesterday signed a BOT (Build-Operate-Transfer) contract and handed over an investment certificate to IDICO Infrastructure Development Investment Joint-Stock Company (IDICO-IDI) to build three additional traffic works on National Road 1A from An Suong to An Lac. Under the contract, traffic circles will be built at the intersections of National Road [...]
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| Gold unexpectedly jumps over VND48 million Posted: 04 Sep 2011 09:07 PM PDT The price of gold in Vietnam sprang by VND1.5 million a tael (1.2 ounces) over the previous day on September 3 as global price jumped the second day on concerns that global economic growth is faltering. Saigon Jewelry Company, the biggest gold shop in Vietnam, bought gold at VND47.8 million and sold at VND48.1 million [...]
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| Industrial park moves offset FDI downturn Posted: 04 Sep 2011 09:06 PM PDT Rising industrial park foreign investment is turning the page on a positive chapter in Vietnam's sometimes hard luck investment story. Total foreign direct investment (FDI) commitments are declining in Vietnam, but new industrial park investment registration shows the country is still attractive to foreign manufacturers. Committed FDI into industrial parks nationwide from January to July [...]
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| Calm heads prevail as the forex market to remain cool Posted: 04 Sep 2011 09:06 PM PDT With its first move to regulate dollar denominated lending activities, the State Bank has sent a strong signal to keep the exchange rate stable till the year's end. Last week, the central bank decided to increase the reserve requirement ratio by 1 per cent to 8 per cent for foreign currency deposits less than 12 [...]
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| Thais put power plans on the table Posted: 04 Sep 2011 09:05 PM PDT A Thai state-owned group is seeking investment opportunities to plug gaps in three major power projects in Vietnam. In talks with Minister of Industry and Trade (MoIT) Vu Huy Hoang last week, EGAT International Company governor Sutat Patmasiriwat said the firm was interested in building the 1,200 megawatt coal-fired Nghi Son thermopower plant 2 at [...]
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| Posted: 04 Sep 2011 09:05 PM PDT Lending interest rates might fall to 17-19 per cent in September as the central bank wished, but the government late last week confirmed it would remain vigilant to screw down monetary policy. The announcement dispels doubts that the government will ease monetary policy which could blow up already high inflation rates. "The government determines to [...]
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| Posted: 04 Sep 2011 09:03 PM PDT The month of September, designated a special promotional sales period, has begun very well with customers flocking in the thousands to supermarkets, trade centres and fairs. The rush was particularly evident on National Day (September 2) as long queues of customers queued to buy promotional products at these events. On the morning of September 2, [...]
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