Vietnam Business News

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• Gold rose by VND0.3 million to VND44.6 million a tael this morning
• Gold sharply seesaws along with global price
• Gold holds gains; heads for worst month since Oct ’08
• Vietnam paves way for Malaysian investors
• Luxury homes left empty, low-income families left in the cold
• Vietnam central bank sells usd150 million to stabilize exchange rate
• Banks play down gov’t credit growth, money supply targets
• Sep 30: Vietnam dollar exchange rate stands at vnd20,628 for over 1 month
• Vietnam central bank quotes dollar at vnd20,628, unchanged from thursday
• Vietnam sells only 42.5% g.b on sept 99, yields up on lower demand

Gold rose by VND0.3 million to VND44.6 million a tael this morning Posted: 30 Sep 2011 01:02 AM PDT Vietnam gold rose by VND0.3 million to VND44.6 million a tael this morning after the world gold prices edged up, local gold premium fell to VND3.5 million/tael while dollar prices were stable. As of 8:40 Hanoi time, Sacombank-SBJ gold was listed at VND43.86 million/tael -VND44.44 million/tael for bid and ask, respectively. SJC gold and Rong [...]

Gold sharply seesaws along with global price Posted: 30 Sep 2011 12:00 AM PDT A slump of 2.4 per cent in global price in the trading session last night in New York sent the price of gold in Vietnam down VND1 million a tael (1.2 ounces) over the previous day on September 29, however, the metal recovered VND600,000 per tael later before going south again. Sacombank Jewelry Company bought [...]

Gold holds gains; heads for worst month since Oct ’08 Posted: 29 Sep 2011 11:40 PM PDT (Reuters) – Gold jumped more than 1 percent on Friday after Germany’s approval for expanding theeuro zone bailout fund offered temporary relief to investors, but the precious metal was heading for its worst monthly decline in three years. With the euro debt crisis unlikely to be resolved any time soon, investors have shifted their attention [...]

Vietnam paves way for Malaysian investors Posted: 29 Sep 2011 11:08 PM PDT The Vietnamese Government will create all favourable conditions for Malaysian businesses to invest and do business in Vietnam. State President Truong Tan Sang made this affirmation while attending a Vietnam-Malaysia business forum in Kuala Lumpur on September 29 as part of his three-day official visit to Malaysia. The Vietnamese State leader expressed his wish that [...]

Luxury homes left empty, low-income families left in the cold Posted: 29 Sep 2011 11:07 PM PDT In Vietnam’s urban areas there are many large, empty luxury homes, while low-income earners are in need of accommodation. This was one of the problems addressed at a conference to seek the opinions of ministries and agencies concerning land use, through the year 2015 and planning through 2020. Dang Hung Vo, the former Deputy Minister [...]

Vietnam central bank sells usd150 million to stabilize exchange rate Posted: 29 Sep 2011 11:07 PM PDT The State Bank of Vietnam (SBV) sold out 150 million dollars (VND3,000 billion) last week to stabilize the USD/VND exchange rate. The central bank, in a meeting with commercial banks on Sept. 7, said it would try to keep the exchange rate steady within 1% fluctuating band to the end of this year, and that [...]

Banks play down gov’t credit growth, money supply targets Posted: 29 Sep 2011 11:06 PM PDT Several banks have played down the significance of the Government's recent resolution to reduce credit growth and money supply targets, saying the move would not affect their operation simply because they do not have funds to boost lending. The Government in the September meeting required the total money supply and credit growths to be kept [...]

Sep 30: Vietnam dollar exchange rate stands at vnd20,628 for over 1 month Posted: 29 Sep 2011 11:06 PM PDT Vietnam’s central bank set the U.S. dollar’s exchange rate at VND20,628 on Friday, unchanged for 32 straight working days, longest string since it was introduced this year. Commercial banks are allowed to apply effective exchange rate +-1% from the official exchange rate set by the central bank, accordingly, the ceiling price for a dollar today [...]

Vietnam central bank quotes dollar at vnd20,628, unchanged from thursday Posted: 29 Sep 2011 11:05 PM PDT Vietnam’s central bank set the U.S. dollar’s exchange rate at VND20,628 Friday, unchanged from Thursday. Hanoi-based currency dealers said free-market rates rose slightly, following a recent rebound in global gold prices. “The local prices of gold and dollars have been moving in line with global prices,” said a dealer with a gold shop in Hang [...]

Vietnam sells only 42.5% g.b on sept 99, yields up on lower demand Posted: 29 Sep 2011 11:05 PM PDT Vietnam sold VND850 billion out of VND2 trillion government bond offers on September 29, the Hanoi Stock Exchange said on its website. Bidders bought VND350.1 billion out of VND1 trillion worth of 3 year bonds offered at a yield of 12.1% p.a., rising 0.05% from previous auction. Bidders also bought VND0.5 trillion worth of 5 [...]

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