Vietnam Business News

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• Gold worse performer in September
• Gold investment to rise to record 1000 tons in 2011: GFMS
• Pakistan gold prices follow declining trend
• EVNTelecom asks for government’s approval to sell 12pct stake for VTC
• Vietnam’s import spending on oil and gas in Aug at over $820m
• Vietnam’s Real Estate Market to Be Rescued?
• Overnight interest rate falls up to 2.5pct, net withdrawal at over 3tr dong on OMO
• OceanBank offers preferential interest rate
• Vietnam Insurance Market: Keeping Double-digit Growth
• Milk prices unexpectedly shoot up

Gold worse performer in September Posted: 17 Sep 2011 06:24 PM PDT After a feverish investor interest propelled Gold prices into peaks of $1900 in August, gold prices have fallen in September and the metal is the worst performing asset when compared to S&P 500. At COMEX, gold prices have fallen to $1772 on September 15 after opening the month at $1821, a decline of over 2.60% for [...]

Gold investment to rise to record 1000 tons in 2011: GFMS Posted: 17 Sep 2011 06:00 PM PDT (Commodity Online): Gold could rally to $2000 by 2011-end, according to Thomson Reuters GFMS Survey 2011 Update. Investment in all forms combined in the second half of 2011 is forecast to reach a record of 1000 tonnes, which equates to a value figure of over $60 bn( $1815 per ounce). This compares to the Update's figure [...]

Pakistan gold prices follow declining trend Posted: 17 Sep 2011 05:23 PM PDT Gold rates in Pakistan dropped on Thursday in major bullion markets of the country as the metal continued its downward trend in the international markets. Gold prices in Karachi went down by Rs 400 per tola and recorded at Rs. 60,400 per tola (11.66 grams). The price of 10 grams gold was also declined by [...]

EVNTelecom asks for government’s approval to sell 12pct stake for VTC Posted: 17 Sep 2011 04:31 AM PDT EVN Telecom, a subsidiary of state-owned Electricity of Vietnam (EVN), is submitting to the government a plan to sell its stake to Vietnam Multimedia Corp or Vietnam Television Corp (VTC), the local newswire Bao Dau Tu (Investment) reported. Initial information said that EVNTelecom will sell 12% stake to VTC. VTC plans to spend an amount [...]

Vietnam’s import spending on oil and gas in Aug at over $820m Posted: 17 Sep 2011 04:31 AM PDT In the second half of August (from August 15 to 31), Vietnam imported over 536,000 tons of oil and gas worth over $500 million, bringing the total figures in August to 867,000 tons valued at $824 million, the General Department of Vietnam Customs reported on Friday. Thus, the country’s oil and gas import in August [...]

Vietnam’s Real Estate Market to Be Rescued? Posted: 17 Sep 2011 04:31 AM PDT Under the growing pressure of changing standpoints and monetary policy application methods about the Vietnamese real estate market from the Ministry of Construction, the State Bank of Vietnam (SBV) will carry out a review on this market and base on new developments to provide credits to some market segments. After the reassessment is completed, the [...]

Overnight interest rate falls up to 2.5pct, net withdrawal at over 3tr dong on OMO Posted: 17 Sep 2011 04:30 AM PDT In the week between September 12 and 16, the State Bank of Vietnam (SBV) posted net withdrawal of over three trillion dong on open market operations (OMO) while the overnight interest rate decreased 2.5%. According to the data compiled by Reuters and calculated by the local online newspaper NDHMoney, in five sessions from September 12 [...]

OceanBank offers preferential interest rate Posted: 17 Sep 2011 04:30 AM PDT Ocean Commercial Joint Stock Bank (OceanBank) has recently announced that from September 13, 2011 it officially launched a preferential lending program for production and business sectors. The program is designed for enterprises in sectors of agriculture production, export and other business sectors. Accordingly, the bank’s the most preferential lending interest rate of 16% per year [...]

Vietnam Insurance Market: Keeping Double-digit Growth Posted: 17 Sep 2011 04:30 AM PDT Despite economic and financial difficulties this year, Vietnamese insurance market still had a high growth rate. Premiums totalled 17.362 trillion dong (US$842 million) in the first half of 2011, up 22 percent year on year. Insurers indemnified 5.892 trillion dong for insurance compensation coverage to the insured in the period. The Vietnamese insurance market is [...]

Milk prices unexpectedly shoot up Posted: 17 Sep 2011 04:29 AM PDT While the prices of raw material milk imports are falling, some diary producers have shocked consumers with their unexpected price hike of up to 15 percent. Huong, an owner of a milk store in District 5, Ho Chi Minh City, said early this week many distributors have increased their prices by up to 40,000 dong [...]

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