Vietnam Business News

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• Analysts keep their faith in the long-term gold bull run
• Motorcycle industry earns robust growth
• Agricultural insurance a priority
• Sep 28: Vietnam gold losses vnd45mln/tael threshold amid global volatility
• Trade deficit swells to us$7.7 billion in jan-sept
• Pricing debate looks for answers
• Land deal searches to halt money laundering
• Investment to savings ratio major cause of inflation
• Sep 28: Vietnam central bank holds dollar exchange rate at vnd20,628
• Techcombank: ldr at 44%, bad debts at 2.6% in 9m/2011

Analysts keep their faith in the long-term gold bull run Posted: 28 Sep 2011 12:00 AM PDT (Reuters) – It’s hard to be upbeat about gold these days, but technical analysts are keeping their faith in the long-term bull run — just barely. As the precious metal fell by a record over $120 an ounce on Friday and Monday, peak to trough, gold selling snowballed as several important technical support levels were [...]

Motorcycle industry earns robust growth Posted: 27 Sep 2011 11:48 PM PDT The local motorbike market this year has seen a boom for manufacturers and retailers despite the current economic uncertainty. In the first eight months of the year, Honda Vietnam sold around 1.32 million units, up 20% year-on-year, according to general director Koji Onishi of the leading motorcycle maker in the domestic market. However, it wasn't [...]

Agricultural insurance a priority Posted: 27 Sep 2011 11:48 PM PDT Profit would be a secondary consideration in providing wide-scale insurance for agriculture, said Viet Nam Association of Insurers president Trinh Quang Tuyen. The main consideration was the wellbeing of the farmers , he said. Insurance companies Bao Viet and Bao Minh were assigned by the Ministry of Finance to pilot an agricultural insurance programme in [...]

Sep 28: Vietnam gold losses vnd45mln/tael threshold amid global volatility Posted: 27 Sep 2011 11:46 PM PDT Vietnam gold fell VND1 million to VND45.6 million a tael at the open as investors took profit, narrowing local gold premium to VND3.5 million/tael, dollar prices were stable. As of 8:30 Hanoi time, Sacombank-SBJ gold was listed at VND43.81 million/tael -VND44.79 million/tael for bid and ask, respectively. SJC in Hanoi was trading at VND44.1 million/tael [...]

Trade deficit swells to us$7.7 billion in jan-sept Posted: 27 Sep 2011 11:46 PM PDT The country's export revenue reached US$8.3 billion while import turnover soared to US$9.3 billion in September, resulting in a trade deficit of US$1 billion this month and a total deficit of US$7.7 billion in January-September, gold trade excluded. As reported by General Statistics Office, imports eased 3.6% month-on-month to US$9.3 billion in September, but it [...]

Pricing debate looks for answers Posted: 27 Sep 2011 11:46 PM PDT The never ending property pricing debate continues to rumble on with buyers suffering the consequences. So, what is an "origin price" and a reasonable price for an apartment unit? Jeremy King, managing director of Knight Frank Vietnam, said the "origin price" was the price at which the apartments were put onto the market for the [...]

Land deal searches to halt money laundering Posted: 27 Sep 2011 11:45 PM PDT The incidence of money laundering through land transactions needed to be made more public, said Pham Sy Liem, vice president of the Viet Nam Construction Association. Liem suggested agencies launch a website to connect all real estate companies and trading floors, with daily transactions made public and available on the net. Liem made his comments [...]

Investment to savings ratio major cause of inflation Posted: 27 Sep 2011 11:44 PM PDT Vietnam’s investment to savings ratio is among the main causes for the country’s inflation, said Minister, Chairman of the Office of the Government, Vu Duc Dam. At the press conference for Government's regular meeting on September 26, Dam said the Government had assigned the Ministry of Planning and Investment, the Ministry of Finance and the [...]

Sep 28: Vietnam central bank holds dollar exchange rate at vnd20,628 Posted: 27 Sep 2011 11:44 PM PDT Vietnam’s central bank set the U.S. dollar’s exchange rate at VND20,628 on Wednesday, unchanged for 30 straight working days. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, hence, the ceiling price for a dollar today was VND20,824. Commercial banks also kept their dollar [...]

Techcombank: ldr at 44%, bad debts at 2.6% in 9m/2011 Posted: 27 Sep 2011 11:43 PM PDT Techcombank, 20% held by HSBC, said its loan to deposit ratio was 44% and bad debts at 2.6% in the first nine months of this year. The Vietnam Technological and Commercial Joint Stock Bank (Techcombank)'s loan to deposit ratio was 44% and bad debts at 2.6% in the first nine months of this year compared [...]

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