Vietnam Business News

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• Spot gold slipped on Thursday on dollar rally after Fed decision
• Gold price falls 400,000 dong to 46.8m dong/tael on Thursday
• Gold’s Price Surge Skews Inflation Numbers Across Asia
• Gold slides after Fed ‘twist’ disappoints
• Gold weakens on dollar rally after Federal Reserve decision
• Gold falls slightly to settle at $1,808; copper hits 2011 low
• Gold declines as dollar jumps on fed’s bond plan to bolster U.S. economy
• C.bank pumps 10tr dong on OMO on Sep 21
• Saigon Bank gets okay to hike chartered capital to 3.5tr dong
• Vietinbank’s gains profit before tax of 4.434tr dong in Jan-Aug

Spot gold slipped on Thursday on dollar rally after Fed decision Posted: 22 Sep 2011 02:00 AM PDT Spot gold slipped on Thursday under the weight of a rallying dollar, after falling more than 1% in the previous session when the US Federal Reserve announced its plan to load up long-term securities and offered a grim economic outlook. Warning of “significant” downside economic risks, the US central bank said it would launch a $400 [...]

Gold price falls 400,000 dong to 46.8m dong/tael on Thursday Posted: 22 Sep 2011 01:06 AM PDT The global gold price tumbled to $1,780 per ounce and the gap between the local and global gold price climbed to over two million dong per tael. At 8:20 am local time today September 22, the gold price in domestic market slipped 300,000-400,000 dong per tael from late yesterday afternoon to range between 46.8 million [...]

Gold’s Price Surge Skews Inflation Numbers Across Asia Posted: 22 Sep 2011 01:05 AM PDT (Bloomberg) — The surging price of gold is fueling inflation from India to Indonesia and forcing statisticians to decide whether jewelry made of the metal still belongs in consumer-price indexes. In South Korea, gold rings will be dropped from the inflation basket for the first time since 1975 as part of a scheduled reweighting in [...]

Gold slides after Fed ‘twist’ disappoints Posted: 22 Sep 2011 12:05 AM PDT Gold fell 1 per cent on Wednesday after the Federal Reserve opted, as widely expected, to tweak monetary policy to stir US growth, disappointing some investors who had hoped for stronger stimulus measures. A spike in the US dollar against a basket of currencies also pushed the precious metal below $1,800 an ounce, a level [...]

Gold weakens on dollar rally after Federal Reserve decision Posted: 21 Sep 2011 11:05 PM PDT Spot gold slipped on Thursday under the weight of a rallying dollar, after falling more than 1 per cent in the previous session when the US Federal Reserve announced its plan to load up long-term securities and offered a grim economic outlook. Warning of “significant” downside economic risks, the US central bank said it would launch a [...]

Gold falls slightly to settle at $1,808; copper hits 2011 low Posted: 21 Sep 2011 10:00 PM PDT Gold pared gains to settle $1 lower at $1808 Gold pared gains to settle $1 lower at $1808 after earlier posting gains after Moody’s cut the credit ratings of Bank of America and Well Fargo, saying it’s more likely now that during the financial crisis that the U.S. government will allow a large bank to [...]

Gold declines as dollar jumps on fed’s bond plan to bolster U.S. economy Posted: 21 Sep 2011 09:46 PM PDT Gold prices fell as the dollar's rally eroded demand for the metal as an alternative investment after the Federal Reserve said it will increase holdings of longer-maturity Treasuries in a bid to bolster the U.S. economy. Gold for immediate delivery fell $18.40, or 1 percent, to $1,785.23 an ounce at 4:04 p.m. New York time after dropping [...]

C.bank pumps 10tr dong on OMO on Sep 21 Posted: 21 Sep 2011 09:21 PM PDT The State Bank of Vietnam (SBV) on September 21 injected 10 trillion dong on open market operations (OMO) for 14-day term with the interest rate of 14% per annum (p.a.), according to the data compiled by Reuters and calculated by the local online newspaper NDHMoney. At the same time, the central bank also withdrew eight [...]

Saigon Bank gets okay to hike chartered capital to 3.5tr dong Posted: 21 Sep 2011 09:21 PM PDT The State Bank of Vietnam (SBV)’s governor, Nguyen Van Binh, on September 20 approved Saigon Bank for Industry and Trade (Saigon Bank) to scale up its chartered capital in 2011. Accordingly, the bank will increase its registered capital to 3.5 trillion dong within this year. Saigon Bank will have the responsibility for implementing the legal [...]

Vietinbank’s gains profit before tax of 4.434tr dong in Jan-Aug Posted: 21 Sep 2011 09:20 PM PDT Vietnam Commercial Joint Stock Bank of Industry and Trade (VietinBank-CTG) has recently released its updated report on performance for the first eight months of this year whereby the bank gained 87% of the year’s profit plan. Particularly, in Jan-Aug, thanks to improved gross profit margin and strong credit growth, VietinBank gained profit before tax of [...]

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